New to these rifles. Could someone indentify what I have?

[Orava]

You will likely spend near as much or more replacing the receiver than you would by purchasing another gun.

How old is your son? Under 12 years of age? A .30-'06 delivers quite a kick, and could be uncomfortable to anyone under 120 lbs, or so.

My son is going to be 14 soon. I'm not willing to take this risk with him, though I might try my luck with it at some point if I can't get my money back.

Thanks for taking the time, everyone, I now know what I have.

Darian

[rayg]

You might try to take it back to who you got it from and tell him that you found out that the rifle is unsafe/danagerous to shoot and he did not warn/tell you about that when you bought it, Ray

[Cosine26]

I do not believe that the CMP ever offered to replace LN/SHT receivers for free. When available, LN/SHT receiver equipped rifles were sold by the CMP, but with the admonishment that they were “Wall Hangers” and not to be fired.
Prior to WWII, if a rifle having a SHT/LN receiver were to be returned to the Springfield Armory to be rebarreled, the LN/SHT receiver would be replaced at no charge. After WWII the program changed. A stripped LN/SHT receiver could be traded for a HN receiver for ~$8.00. Prior approval was required and the serial number of the receiver to be turned in was required. When the supply of M1903 receivers was exhausted, the offer was changed -to a barreled 03A3 receiver. When these were exhausted the program expired.
Catastrophic failure of LN/SHT receivers have been documented by Hatcher and though various articles in the Dope Bag of the American Rifleman Magazine. I do not intend to enter the argument about firing the LN/SHT rifles. I would not allow my son to fire the rifle in the example nor would I fire it myself. It has been drilled and tapped for a scope. This would require annealing the receiver in some fashion. Since I do not know how this was done, I would be wary.
FWIW

[Rick the Librarian]

Not the CMP, but the DCM did at some point in time, I believe after WWII to perhaps, the mid-1960s. The CMP didn't come into existence until 1996.

[Orava]

Well, a funny thing happened today. I was thinking I'm screwed, since this was a cash sale and this guy probably thought I was a sucker and dumped it off on me. I went back today and told him that my concern, and he remembered me and gave me the money right back saying that he'd never heard of this but didn't want to sell something that could be dangerous. It truly restored my faith in humanity.

I was able to buy a new Remington 270 for the same money and my son and I had a lot of fun shooting it today.

I admit that it's kind of my fault for not researching it first, but I learned a valuable lesson.

Thanks for the help, everyone. I truly appreciate. I had never heard of an exploding receiver before...

[rayg]

Well done. I'm sure once you told him he realized the danger and also possibly liability. Ray

[browningautorifle]

The 270 will serve you well.

[supercub]

Good to see it all worked out. There are a lot of good people out there, you just don't know it till you deal with something like this.

[lkgmadmax]

Good information on the faulty 1903 receivers can be found here: Information On M1903 Receiver Failures

[Chuckindenver]

lots of wrong info on that site