The .38-55 and the .32-40 both were BALLARD cartridges which Winchester adopted (and renamed) because they both were popular Match cartridges with reputations for excellent accuracy. That was, however, back in the day of soft-lead bullets and Black powder. Both made the double transition to Smokeless powder and to jacketed bullets.
Alas! But many of the old rifles are a century old or coming up to it (last ones made in 1935) and a century of firing plus a century of cleaning plus often-loose original tolerances plus the rigidity of jacketed slugs, all has taken its toll. In many cases, this means that the old champs are not what once they were.
But they can be brought back. I am handloading the .32-40 for a couple of friends and they are very pleased with the results. Their rifles are in pretty good shape, so I can get away with using 4198; if they were any worse, then the really fast powders would come out.
You can duplicate pretty much ANY Black-powder loading with Smokeless SR-4759 by loading it at THIRTY-EIGHT PERCENT of the Black charge. For the 32-40 this means 17.6 grains of SR-4759, for the .38-55 it means 20.9 grains. You get the original Black-powder performance at the original Black-powder pressures. Going further, to a softer lead flat-base bullet, gives the powder something to work against: very often a soft-lead bullet will "bump up" when fired and deliver excellent accuracy.
Good luck and have fun!



























