The case is just about the exact same as the .500 x 3.25" BPE (Black Powder Express).
In it's original BP loadings, the 500 BPE cartridge uses a lighter bullet (around 450gr) than the 50/140 to gain it's velocity,,that's where the 'Express' name comes from.
(the 500 BPE came in both a 3" and a 3.25" case version. Not really too awfull much difference in the two)
The 500 BPE was also loaded with 'Nitro for Black' loads (smokeless powder to mimic BP pressure and therefore point of impact/sight adj.)
Also judged to be safe in older guns.
Then loaded with higher pressure smokeless loads for more modern guns.
.510 bullet dia. & paper patched (.500 lead bullet P/P up to .510)
The 50/140 was a slightly larger bullet IIRC at .512. Usually the same idea of using a .500d bullet and p/p it up in dia. The 50/140 used a much heavier bullet though IIRC.
I would dig up some reloading info for the 500 x 3" or the .500 x 3 1/4 BPE case using modern smokeless powders and start there.
In a Ruger action you certainly have the safety margin not afforded in the older rifles that even these loads are worked up in generally.
I'd try over on the Nitro Express Board, they have a section devoted to reloading the big numbers
This should get you right to the reloading section:
Forums.NitroExpress.com
My own .500 x 3" BPE is a John Rigby Double Rifle made in the 1860's so when it does get shot,it's pampered with true BP loads.
They are easy to make up,,fill the case to the bottom of the bullet so it compresses the powder a bit when seated.
But they are a chore to clean out the mechanism of a cartridge arm, especially a nice new Ruger.
I'd look around for some smokeless loads for the .500 x 3 or 3 1/4 and start there.
Good Luck,,sounds like a fun project.