Thanks for all the helpful input. I think I am about to get a handle on the situation. I have not been able to get a picture good enough to post of the charge holes but I will give you some more details.
I own six Smith and Wesson revolvers in three calibers but nothing older than a Terrier DOB '57. I had never seen a Hand Ejector other than in pictures until I bought this gun. It was sold to me as a Model 1903 2nd change chambered in .32 S&W Long. When I inspected the gun I looked in the charge holes (with out a bore light) and saw the first ring everything looked O.K..
When I got home and looked the gun up by the serial number (913XX) to my surprise it was a Model 1905 4th change chambered in .32 WCF. I know there is a roll mark on the barrel with 32 WCF but the guy said it was a .32 S&W Long and without my reading glasses I saw 32 and that was good enough at the time.
So, I cleaned it up and while inspecting everything with a good light to my surprise there were two sets of rings in each charge hole. My first thoughts were since it was sold as a .32 S&W Long the second ring must be from shooting .32 S&W Longs. I though the rings were basically cut into the metal by the shorter cartridge over time. Also, I thought there would be a crud build up from shooting the shorter cartridge. I did not know until reading the replies to my post that the .32-20 was a necked cartridge.
What I have learned is that both sets of rings should be there and that shooters have varying opinions on shooting .32 S&W Longs in a gun chambered for .32-20.
My LGS should have a box of .32-20's for me by the weekend and I will give the old gal a whirl. As for shooting .32 S&W Longs in the gun, I probably won't but I don't think it would hurt since that's what the previous owner shot.
Thanks to all who replied.