Yes, you have a fake carbine, also sometimes known as a "Red Rider". Per the late, and greatly missed, dean of Krag collectors, Col. Bill Mook, "OALW" stands for "Ostborg Armory and Locomotive Works". The guy is/was also a model train buff. He made a LOT of fake carbines over the years. Some BIG names spent BIG money on them and got screwed in the process.