Thanks...I knew about the concentric rings..I figured the rifle was worth $175. What does the character mean that is over stamped..I saw it on a data sheet .Pretty much what you expect to see on a school rifle; mum canceled with concentric rings, Bun mark added, along with the two 'o's before the serial number.
The marking/disc on the butt stock is probably the school's rack number.
Thank you for that bit of info..this one appears to be a functional rifle and would be an improvement on the last ditch versions..the rear sight goes to 2400.It is believed that many school rifles were recalled and issued to regular troops; many have been found in the occupied islands, esp. the Philippines.