The action was purchased the way you see it. However, a gunsmith/machinist carefully un-demilled it without affecting the engraving. The lever and breech block operate perfectly ... but it is missing the parts between the trigger and the internal hammer. I would like to identify the action to see another example.

Looks like something Bill Ruger saw and copied to make his #1.

I looked it up.  The 4 page article is in DeHaas' "A Potpourri of Single Shot Actions.  There were also some articles in the ASSRA journal in the late 1980's that were very critical also.   
Bruce

It looks high quality. Sort of resembles a Martin Hagn but the safety is different. Engraving looks well executed but like jhm mentioned, why demill it? How large is it, Rook size or larger?

I answered my own question ...

"In the 1980s and 1990s the Italian firm of Armi San Marco made a miniature Farquharson. It was available in both .22LR and .22 Hornet."

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Joe,
     The web link that you found is talking about the Fraser Highlander action that I mentioned earlier.  It was sold as a 2 piece unit where the rear tang portion slid vertically into the receiver, but looking at this action, it is extremely similar on all accounts except that.  I know that the action was redesigned initially after some issues.  Looking at all the pins and holes in your action, they align perfectly with the Fraser Highlander that DeHaas talks about.  There is also the possibility that the original owner didn't like the slide portion and welded it up, or this could have been an earlier version.  The owner welded up the front of the action, so the rear might have been done also.

Here is a picture out of the DeHaas book showing the HIghlander action.    
Bruce

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