To take a guess, perhaps a Fred Adolph rifle made circa 1919 later barreled to Hornet (ammo introduced January 1931 by Winchester) by Sedgely (which first offered 1903 Hornets in late 1931). It would be interesting to know whether it is a repeater or single shot. I have never examined an early Sedgely Hornet but after the Winchester 54 came out in that calibre in early 1933 Sedgely used Winchester 54 Hornet magazine parts inside the 1903 magazine box.