'halvy64': Welcome to the KCA Forum. Nice item to find during a house renovation! (There has to be an interesting story there).

Your 'new' rifle is indeed a U.S. model 1898 Krag rifle that has had its (originally 30") barrel and stock forearm shortened. The original front-sight base has been re-attached to the cut-down barrel. The Rifle rear-sight is the model 1896 sight. The changes to your rifle were probably done to make it more appropriate for Hunting. The stock has been sanded and thinned down. The brass wood screw in front of the 'circled P' (function proof mark) is probably a repair for a wrist crack.

Krag rifle, #267040, would have been assembled around May to July of 1900. In its current state, it is worth about $250-300. It would be a fun shooter and useful for Hunting (.30-40 Krag caliber). Hopefully the bore is in good condition. Remodeled Krags do not sell very well. Collectors want Krags to be as issued.