I think you have a black powder gun. A gun made in 1950 would certainly not have a latest patent date of 1895. It is my understanding that H&R guns for smokeless powder were marked "32 S&W Ctg" on the left side of the barrel. I have two such examples. Yours is not so marked. I would not fire it with smokeless ammo, although you have been able to get by with it because of the low pressure of factory loads.
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