Red Stripe
The red stripe was put on a number of Remington made M1903 Springfields that was to be issued to the British Home Guard during WWII. This was a warning that the rifle was not chambered for .303. Check the new issue of ShotGun News they have a great article titled "The Guns of Dad's Army". I know this does not match what you said you have in a 1965 Nato chambering.
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