All Carcanos, including the Cooey conversions, are loaded with a Mannlicher Clip of a special size. UNLIKE the Austrian Mannlicher clips, the one for the Carcano is REVERSIBLE and may be oaded either-side-up.
The SLOT in the bottom of the Magazine is for an expended Clip to drop free of the Rifle. Being that Clips are scarce and expensive these days, you might wish to put a strip of masking tape across this Slot. THE CLIP DROPS FREE WHEN YOU CHAMBER YOUR FINAL ROUND, NOT when the Rifle is empty. To "Show Clear" you must open the action and eject the round in the Chamber, as with any other rifle. A artly, full Clip may be REMOVED from the Rifle by opening the Action, ejecting the round in the Chamber, pressing the Clip Release Button (inside the front of the Triggerguard) while pressing down on the top round in the Magazine; removing pressure allows the Clip with unused Rounds to eject vertically and slowly.
The Clip holds 6 rounds but the Bolt cannot be closed over a full Clip, so capacity of the rifle is actually 5+1: 5 in the Mag, 1 up the pipe.
JP (on this forum) says that he has some Carcano Clips for sale. His prices, from what I have seen, are pretty good. Send him a PM; he checks here daily.
There is actually very little difference between the 6.5x52 Carcano cartridge and the 6.5 Mannlicher-Schoenauer round....... just enough for trouble. EITHER ONE will fit the Carcano clips and feed with no problems.
BTW, ALWAYS load this rifle from the Clip. Tossing a round up the pipe and slamming the action shut can completely wreck an Extractor.... and usually does. There were 3 different types of Carcano extractor, so you can ee the possibilities for real problems! Incidentally, this ALSO goes for any Mauser variant, INCLUDING the '98.
The Carcano action is a modified Mauser type with a distinctive Carcano safety which removes all compression from the Mainspring and locks the Bolt. This peculiar safety also permits the operator to remove the entire firing assembly of the bolt in a single chunk. But the Carcano safety was designed for military purposes and it is NOT foolproof. With the Safety APPLIED, there is no compression on the Mainspring; the rifle will not fire if you pull the Trigger. It WILL, however, fire if you allow the firing-pin to run forward (by pressing the Trigger and pushing) and then strike a SUDDEN BLOW on the back of the Firing-Pin, so BEWARE!
You will hear TALES that the Carcano action is weak. There is NO substance to these tales; the action is, if anything, quite overengineered for its purposes. Friend ANDY (on this forum) did a spectacular series of TESTS on a Cooey Carcano, culminating in the near-destruction of the rifle. This test has its own thread; it is fascinating reading.
Hope this helps.