Judging strictly from the picture you are right. If your gun is original otherwise, I would fix it. Does it letter with sling swivels? A wood craftsman can graft a piece of wood with matching grain and darken the wood to cover, it’s still there buy not obvious. Do not putty it! Is there a front swivel and is it original? T/R
The notch was not cut by Winchester. It is far too crude to be factory. I don’t remember swivel bases being rectangular? Someone with a lot of walnut could find a piece that might match. After installing the new piece sand the entire belly just enough to blend the new area with the rest of the stock. Experiment with stains until you get what you want. You can apply the new stain to the entire stock (over the existing finish) to help blend the whole piece.
Just don’t get your hopes up that it can be fixed and not be able to tell. Grafting in wood does show.
Bob
WACA Life Member--- NRA Life Member---- Cody Firearms member since 1991 Researching the Winchester 1873's
Email: [email protected]
November 7, 2015

Stock appears to have been refinished at some time, little to lose by grafting in a bit of similar walnut and blending in the finish. My shooting buddy has the patience of Job and his grafts are hard to spot unless he points them out. I believe he has an old walnut stock that his “patches” come from.
Mike
1873man said
Just don’t get your hopes up that it can be fixed and not be able to tell. Grafting in wood does show.Bob
Believe me it can get done. Ask Bert, he has seen a shotgun that I did. One side and the belly are perfect the other is pretty close. I hand select the wood to match the grain as best as possible. I also know how to add grain so the original part will blend with the new piece. Actually the staining and finish matching is the hardest. Even a somewhat bad patch will look better than it does now.
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