unusual configuration- sorta half and half.
I can't say how, or if a change of rest would work out for that rifle, but just want to mention that almost all of my single shot, or other two-piece stocked rifles have responded very well to rests out on the barrel- often near the muzzle. All that I have owned lacked a barrel hanger, and that may change things. 
So, maybe give it a whirl and if it works replace or rework that forend and get the piece one style from end to end

I'd go with a Protektor #3
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....and one of these while you're at it.
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Thanks everyone.   

Joe I've had that rifle for maybe 9 or 10 years I think.  It's a 3 barrel set and I've mostly used the .22LR and 32-40 barrels with traditional stocks.  At the time I ordered it I was doing a lot of experimenting with 38-55 paper patched bullets and black powder.  CPA had just brought in a bunch of English Walnut and happened to have an RKS gain twist 38 cal barrel on hand so I ordered that with a benchrest forearm.  I shot with that barrel a couple of times and then put it away.  The other day I was thinking that it was a shame to have a fine Ron Smith barrel sitting around unused.  I plan on giving it a try with IMR-4227 and the Hoch 376310 bullet which some of my other 38-55's like a lot. 

Chris.