"Wilson's Welded Steel" was a tradename used by Sears on several maker's guns - Crescent, Colton Fire Arms, Union Firearms c. 1900.
I did a composition analysis on a Crescent single with "Wilson's Welded Steel" and it was Non-standard Bessemer (high phosphorus) Low Alloy Low Carbon Steel AISI 1017. AISI 1020 was used by a lot of U.S. makers c. 1900.

The original chamber was 2 9/16" or 2 1/2".

NO, it does not sound safe to shoot, with any load.

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