the wife was a jeweler and this is what they used on gold and brass
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It just looks like oil seeping out from the screws. All those parts are oiled before assembly.
I have a couple brass Henry's and have used Brasso and also tooth past (there are many light abrasive pasts you can buy from a auto place for polishing and cut polishing paint), brass blems and scratched very easy and quickly but is easy to bring back, I acctualy used cold blue on my big boy becuse I hunt with it (wanted the steel version at the time but non to be had) its essy enought to buff out also if I every decide to go back to the brass look.
My 38-55 had the same oil weepage around the screws also, cleanded up very easy.
Nice rifle by the way, 38-55 is a great caliber and tack driver accurate! Ammo in Canada is their only draw back, limmited and expensive, I cast a 250gr bullet and hand load, can't justify the price of factory ammo and very weak loaded, at least the Winchester stuff, buffalo bore ammo different story but at $80 a box of 20, lol nope.
Have a can of this it seems to take care of most issues..Any idea what those blemishes are? Gun is BNIB. I found a Henry factory suggestion for polishing the brass from 2015 and they suggested Nevr-Dull but hesitate to use it until I do more research.
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hey bud, looks like staining from storage grease or factory preservative...gun sitting on side in box for so long and it permeates out ....