Bob,
Yes, the gun is cocked but not loaded. The odd thing about it is the location. It's over 10 miles from the nearest small town. It's not the type of gun you would expect a cowboy to have? And it was a long way off the nearest road, where you might expect a bootlegger to be. (Kansas was dry, back then.)
From the same farm, my father-in-law gave me an old bottle with several .41 caliber shells in it, unfired, that he had found under the back seat of an old '30s model car that had sat on the edge of a field for many years. As I remember, they are 41 Long Colt? I'll have to dig them out and check. That too brings up visions of bootleggers! I wish he had found the gun that the .41s belonged to!
Dick