Pre-1913 L.C. Smiths have the same thing. I have a 1895 Quality 2 with the same thing.

Also a 1902 Syracuse Arms 00 Grade

Guess it was common on the early guns, looks nice, but I quess it was another cost cutting step to leave it off later on.
The photo of the Syracuse doesn't show that well but it is there, not as pronounced as the L.C. or the Lefever.

Silvers, the 1895 L.C. has bushing with tiny screws holding the bushings in place.

David