Several discussions have mentioned the K-Hornet lately and I was finally reminded I have one that I never got around to finishing. I have had numerous K-Hornets through the years (beginning with a Low Wall in 1963 that cost me $45!) but all I still have is the one I just remembered. It is a military airman's survival rifle barreled action I picked up at a show in the early 70s. These used the magazines from some commercial Hornet (which one eludes me) but I know I have a couple somewhere. Anyway, also along the way I picked up a stock from a cute little Steyr-Mannlicher carbine whose original rifle had been dropped from a display rack which cracked the stock at the wrist. I repaired the stock and filled the magazine recess fairly neatly with a block of walnut. I think I hadn't decided back then whether I would make a single shot out of it or cut a recess for a magazine. I vaguely remember that I may have started to fit the action to the stock. I know that because of the way the survival rifle was made that the trigger was really a long way down from the action and that I would have had to cut it and hard solder the shortened halves back together. And, that is all I remember from over 50 years ago including in what dark corner of the gun room it may still live. Oh, I do have, I think, some of the boxes of the GI ammo that say "not to be used on enemy personnel" (was it soft point?). I just went searching online and think I found it - The 1949 H&R M4 (that's Harrington and Richardson for you youngsters). Now the write up on it said it had a 14 inch barrel but I'm sure mine had been rebarreled to a legal length. It's pretty obvious to me that I'm not ever going to finish it. I will launch a search and if I find it and anyone thinks someone might want it I'll list it here.

What you have is a H&R M-4 pilot survival rifle made after WWII. Some of these bring very high prices as military collectibles.  I suggest you consign this to an auction house specializing in U. S. Military weapons. 
YMMV

These rifles were put in mountain survival kits along with chopper mittens, muckluks, and a down sleeping bag. There was another firearm for these kits which was an over and under, 22 Hornet over 410. Cartridges were stored in the stock. It had a trigger that could be squeezed with mittens on. It folded to make it very compact. To the best of my knowledge, both of these guns were taken out of service by my time in service n 1971. I became acquainted with them in AF tech school.

Has it been rechambered? I do believe the "factory" versions were standard Hornet. Neat little rifle.

Yes, it had been rechambered (or if the barrel was replaced maybe that was that barrel's original chambering). But that is the nice thing about the K-Hornet - pop in a loaded Hornet, pull the trigger, and presto, a K-Hornet brass comes out.

Being rebarreled, and missing parts…
As a military collectible it has almost no value.  But they are cool rifles, and I wouldn’t mind having it.  It’d be a sweet shooter in 22K Hornet.