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Yep, it is a Colt Lightning rifle. They were chambered to shoot both 22 shorts and 22 longs but not long rifle. The magazine holds about 10 rds (maybe more) of long ammo. They have a quite short pump stroke that is quite fast to operate and are easy to shoot accurately.I got one several years ago and it has become one of my favorite 22 rimfire rifles! Here is a picture of my rifle along with an 1897 Marlin. The Lightning dates to 1901.

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The small brass square pushes out from left to right to provide access to the magazine tube.
 

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A member of our shooting club showed up with this rifle on Tuesday rimfire























Serial number indicates it may be a Lightning made in 1889 ?!

Looks like it went thru the British proofing system. A nice-looking rifle retaining much original blue, with some added grip checkering.
 
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I believe my was made in 1896. I shot and still shoot a bunch of 22 long CB cartridges out of it. I got mine cheap but the barrel was shot out. I had it relined with the proper twist for shorts/longs. It also likes the super colibri ammo as well. I have fired modern high speed shorts and longs in it with no issues but that is my gun. Oh, and nailed a pesky crow with mine as well.
 
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