To answer your question, Yes it can. About 99.99% of all Trojans built were built with "modern" fluid steel. The rib stamping should include "Trojan Steel".
From a monetary standpoint it would be ridiculous to restock a Trojan, what would you be saving, very few Trojans are collector quality of any significant value. A restock is a $1500 - $2500 proposition.
If you want one, find a solid gun, perhaps have the stock bent for a better fit, remove the butt plate and add a rubber pad if you need a longer LOP, total spent a couple hundred to maybe three hundred spent. Learn how to keep the stock tight to the receiver, know which screws to keep an eye on and tighten when needed. Buy a good set of gun screwdrivers. Loose stocks are the greatest cause of stock cracking.
I have a 12ga Trojan from 1913 that remains as solid as when I bought it in 1984. It has been shot with thousands of trap loads and a lot of 1 1/4 lead and 1 1/4 and 1 3/8 ounce bismuth loads without problem.
Chamber length is probably 2 5/8". Measure the length of most fired 2 3/4 inch shells, you'll find they are shorter than 2 3/4". Testing has shown about a 300 psi increase if chambers are short which = no problem. However if it bothers you have the chambers and forcing cone leghtened, patterns could be improved and although it is a controversial among collectors lengthened chambers on a Trojan will not impact value very much.
They are very well built and strong guns, shoot it and have fun.
