All one has to know about the M38/M94/M96 action strength is look at Norma Factory loadings.
They do not load "mild" at all. I have chrony'd a few Norma factory Rounds, and their 139 grain SSPBT leaves
the muzzle of my 700 Classic 24" at 2800 fps [+-10]
However, it is always good to exercise caution with older firearms. I absolutely love the 6.5x55 chambering,
and mine get shot a fair amount. AAMOF, my 700 Classic is on it's third barrel, about 150 rounds in, lol.
With my 6.5's, I have shot and killed with one shot; WT, Blacktail and Mule deer, Black Bear, Moose, Elk and a Speed Goat.
Effective and mild-mannered, that is the "Swede", still plugging along after all these years.
Regards, Dave.