Here's what I know about it so far;
32-40 B&W  .321 groove dia.  14 very narrow lands, twist TBD
32" round barrel, 1.2" at breech, .92" at muzzle, fitted for a 3-pin false muzzle (missing), marked "Farrow Arms Co" on top. Bore is in remarkably excellent condition.
Farrow windage adjustable tang sight, Winchester windgage front sight on a 3/16" riser.
Hammer has no spur, only checkered lump on top.
No half cock, hammer rebounds slightly to allow firing pin to retract.
Hammer does not cock when action is closed. 
Rifle can only be fired using the double set triggers, which seem to work fine.
New Win. 32-40 brass chambers OK, but the rim cut in the barrel seems large, about .517". Brass I have is .490". Cartridges of the World says it should be .506". Not sure which is correct.
The forend is slotted for a palm rest (also missing) that appears to slide into the slot and snaps over a pin in a steel block that is dovetailed into the barrel.
There is also a small threaded hole in the bottom of the barrel about 5" back from the muzzle. Not sure what it is for.
The barrel can be unscrewed from the receiver by tapping out a tapered pin through the receiver.
That's about all I know so far.
A very interesting and well made rifle.

Steve 

Just out of General interest I came across a book by Milton Farrow yesterday.

How I Became A Crack Shot, With Hints For Beginners FARROW W.Milton £60.00   
1882. 1st Edn. Newport, Rhode Island. 204 pages. illus, 12 mo., original brown cloth gilt, head and foot of spine & corners worn, contents a little browned, vg-. 

£60.00 is about US $90.00 and there would be postage from England as well to add.  I don't know it it is scarce or rare in the USA, but it is certainly very uncommon here in England. This is the first time I have seen it listed anywhere. See:-

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Put Farrows name in the search box and click. There are some very interesting books on firearms, fishing and shooting on that site. All you need is money.  

Harry

Your Farrow looks like a superb example - certainly better condition than any of the ones I've owned over the past 40+ years!  Congratulations on a great find.   

I hope you can get it to shoot as well as it looks.  Be very careful with it on the range as both "Waterman" and I have experienced too many unexpected hammer falls.

I'd like to thank everyone for sharing what they know about these rare rifles. 
Upon further examination the barrel has gain-twist rifling, still not sure of the exact specs. The only number I can find on the rifle is 114 stamped in the buttplate.
I intend to shoot it some time in the future, but the Winchester 32-40 brass I have goes right past the extractor if I'm not careful due to the rim of the brass being .490 and the rim cut in the barrel being about .517.
Did early 32-40 brass have a larger rim than it does now?
Maybe I'll have to have RMC make some brass with a larger rim for it.
From what I have read so far the Farrow action is considered to be stronger than a Ballard so I assume it will be safe with mild cast bullet loads using smokeless powder. The only 32 caliber mould I have is the Ideal 319289 so that will be a place to start.
I am going to try to make a bullet seater and palm rest for it also based on the illustrations in the Farrow catalog.
Should be an interesting project, but I'm going to take it slow. I don't want to mess up such a beautiful piece of history.   


Steve   

Her is some Farrow lube,. Wonder how hot the handle gets before it melts?

In Grant's "Still More Single Shot Rifles" there are photos and descriptions of three Farrow rifles. One of them is very similiar to mine and is marked "Farrow Arms Co" on the top of the barrel, the only other marking being 117 under the buttplate. The same markings and three numbers from mine. So I think you are right about the serial number, Waterman.
Do you know what the highest known Farrow serial number is?
As far as the chambering goes I think you are right that a chamber casting would be a good idea. It would be easy to do since the barrel is removable.

Thanks for the input,

Steve   

If you have the money, there is a Farrow offered for sale on this site.   (You need to Login or Register to view media files and links);

Kurt

Most of the Farrow books you see are the Wolfe re-print edition. Have one and it's worth owning. Original would be worth a whole lot more. Beware fakes though the re-print would fool a lot of people.

Boats