I am no expert, but I had an almost identical crack on a 1921 Featherweight field grade 12. I had Bill Schwarz in Ellijay GA glue the crack and possibly glass bed (can't recall) for very little money. It almost seems like the pin is holding the crack open. Link to a pic of mine repaired below. As you can barely make out, crack ran from the side plate to the safety.

http://s1219.photobucket.com/user/danfandango/media/shotgun003-1.jpg.html?sort=3&o=137

Also, there is a really good DIY tutorial on crack repair on the LC Smith association page. Good luck.