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This is Remington Rolling block No. 5 ethier a 1905 or 1910 version.
I bought it off a gunshow table. The seller did not know the cartridge identity or even the bore size.
It turned out to be 38 special chamber.

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For 357 magnum the max charge Alliant listed for 158 gr JHP was 6.7 gr Bullseye 33,100 psi

In this rifle I have shot 11 gr Bullseye with 38 special brass 1.55" OAL.
The brass does not fail, but the small rifle magnum primer does at that charge.

For reference, the max load for 357 maximum is 40 kpsi 10.5 gr Bullseye 1.99" OAL

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The man who makes no mistakes does not usually make anything.-- Edward John Phelps