Carl Baird,
Schegelmilch was a name associated with several gun makers, in addition to Ernst and Theime/Scheglemilch there was Louis that was involved in the design of the Commision Model 1888 rifle for the Prussian army, in particular the bolt. While likely too young for involvement with your gun, the son of Alfred (Fred) Schegelmilch who worked for Heym and Walter Grass was studying to become a gunmaker in the 1980s, so the name continues in the business.
Mike