The version history of this rifle is rather confusing. Greece was almost continuously in state of war between the years 48. The M-S rifle was the main small arm for the Greek military for some of the most active years of its modern history. Most of the Greek Gras were made by the Steyr factory and that might partly explain how Mannlicher advertised their new design. This contract was part of a major modernisation plan until then the Greeks were using single-shot, black powder rifles ( Gras rifle). The Mannlicher-Schönauer M1903 though fulfilled the specifications of the Greek Army and the first major contract was signed by the Greek Government in 1903. Most of the foreign Mannlicher clients opted instead for versions of the issue rifle of Austria-Hungary, the M1895. The unusual design and calibre, the high quality, high cost, and the fact that no major power adopted it, contributed to the results. The military M-S was not commercially successful, in the sense that it did not attract many contracts for export.
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However, the ballistics and penetration of the 6.5×52mm Carcano cartridge loaded with the 160 grain full metal jacketed 6.5mm bullet in the rifle allegedly used by Oswald are essentially identical to that of the big game hunters using the same bullet with the 6.5×54mm Mannlicher-Schoenauer. This rifle should not be confused with its more widely manufactured cousin, the Steyr-Mannlicher M1895, or with the so-called Mannlicher-Carcano, made infamous in the assassination of President John F. The 1903 M-S carbine's light recoil, familiar iron sights - similar to those of the Mannlicher M1895 graduated up to 2000m - and its quick-handling properties brought it wide-spread praise. The rifle was manufactured to high a standard and was made with tight tolerances, raising costs but improving reliability and durability. The rotary magazine contributed to the smooth feeding and high rate of fire without jamming. The 6.5×54mm MS cartridge had traits of a hunting round even though it had a projectile with a rounded point, it was ballistically efficient, improving accuracy at moderate ranges. The weight was around 3.75kg, while the magazine capacity was 5 rounds and was fed by a strip system. The Greek Army requested two main versions, one long rifle of 1230mm length and a carbine of 950mm length for use by cavalry and non-infantry troops. The characteristic that sets this design apart from others of the era though was the innovative Schönauer rotating spool magazine. The M-S may be identified by the split in the rear of the receiver which allows the bolt handle to pass through. At first sight many confuse it with a Mauser rifle, due to the similar bolt and handguards. Interestingly, while the more famous Mannlicher M1895 had a straight pull bolt, the bolt of the M-S has a rotating action, more reminiscent of the competing Mauser design. The rifle action was designed by Ferdinand Mannlicher and the rotary magazine by his protegee Otto Schönauer of the Österreichische Waffenfabriksgesellschaft (Austrian Arms-Manufacturing Company now Steyr Mannlicher). The M-S rifle was one of these novel designs. These were offered for the consideration of the Austro-Hungarian Army, for export to other Armies and for the civilian market. Following the introduction of smokeless powder in the Lebel rifle at the end of the century, the Steyr factory worked on new Mannlicher designs, using more effective modern cartridges. In the late 1800s, the classic Mannlicher designs for the Austro-Hungarian army were based on the en-bloc magazine, a straight-pull bolt mechanism designed for obsolete large calibre cartridges.