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Tom - there might be a third example of the odd forend out there. I was doing some more searching and found a web site called exordinanza.net that has pictures of another Toole rebuilt M12 trench gun. This one does not appear to be a conversion, but does have the same forend. It looks like this might be a legitimate piece worth buying. Does the pricing seem reasonable?
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TE would be Tooele Army Depot in Utah. They rebuilt a lot of shotguns after WWII. The park color on that shotgun looks like a Tooele. For $1200 it is a deal, I would buy it.
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Thanks again for the comments and opinions. Looks like a buy to me.