'Roadking' - Welcome to the KCA Forum. It is neat that you 'inherited' your father-in-law's Krag. I hope you take up shooting it!
If you post some detailed pictures of the serial number, sights and muzzle crown, it is likely you will get more detailed observations.
A model 1896 Krag, in the low 40k range, was likely built around August - September, 1896, as an infantry rifle with a 30 inch long barrel. From what you have stated, someone restocked it for 'Hunting'. I don't believe you mentioned its present barrel length.
It sounds like, someone switched your 'windage-knob' around, so that they could adjust windage with their right thumb & forefinger.
This might seem convenient, but, it would cause the elevation and windage knobs to crowd and interfere with each other at low elevation.
Also, IMHO, a shooter rarely changes windage once it is adjusted for conditions, but, elevation is routinely changed for 200, 300, and 600 yard stages of a military match.
(Attached are photos of an 1898 rear-sight, the 1898 eye-piece, as altered for reuse, on the 1902 sight, and a straight 1902 sight). I hope this is helpful. I imagine, you will see why Springfield kept the knobs apart.
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