Bill was actually closer than he might have realized when he said, "Belt-fed pistol."
This pistol was an attempt to make a multi-shot pistol that was easier to carry concealed, by getting rid of the cylinder. The odd shape of the hammer spur has been noted - it served a purpose, what was it? Figure out the pistol, you'll have that answer. You can work it backwards, too. Of course, now that you see the whole thing, several of you are probably having "Aha!" moments.
I was accused of cheating by a PBM player - he scoured the known pics of the Arsenal of Argghhh! and didn't find this. Let's address that - One: Not everything in the Arsenal is in the picture store. Two: Not every whatziss is an Arsenal artifact, though I usually wish it was!



@BillT, I really don't believe this was a sniper's weapon of choice. I figure this was a "belly gun" and do some intestinal surgery or aim lower and be a real pain in the ....uh yeah.
Truly.
Spiff
Found it.
Your whatziss is in better shape, judging from the pic...
From the shape of the hammer, am I to assume that this was some sort of volley gun that fired all barrels simultaneously?
Patented by August Schuler, the Reform pistol featured a vertical row of barrels that advanced upwards with each shot exposing the fired chamber. As the lower barrel fired, a gas hole between the barrels pressurized the empty barrel enough to eject the case rearward. An extended spur on the hammer prevented the spent case from hitting the firer in the face. The final case required manual extraction.
http://www.gunbroker.com/Auction/ViewItem.aspx?Item=161826825
Just wouldn't make much sense, IMHO, to have a blade sight for round one, but nothing for the following three. Also, staring at that photo above, I see no rear sights of any kind.
I will assume the picture is in line to fire the bottom cylinder. It looks like the bottom of the hammer spur would be in line with the 3rd barrel. And if one assumes the top of the barrel/cyl assy sits relatively flush with the rest of the pistol, that would also put that same spot pretty much in line with that front blade sight.
OK, yup, I'm still going with rear sights the reason for the hammer shape.
Well, darn it: I just realized, if this thing is a "traditional" double-action, if you do a manual cocking for a SA trigger, that totally negates it. The hammer will be back against the grip, leaving nothing to see through if it is a sight. Unless, it was a DA-only mechanism, which would allow you to sight, then give the long double-action pull.
Hmmm.. I see the auction Kirk linked ended Mar 28th... given a FexEx shipment, it could be same gun, but it looks a bit different. But it does look as if Our Host has done a bit of photoshop to blur out stampings on the cylinder and grips.
It is a Reform, made by Shuller of Suhl, and that hammer spur is, as Neffi first noted, for deflecting the casing that was ejected when the next barrel below it was fired.
Heh. .25ACP, little short barrels - I'm thinking sights were mostly for show, like on a snub-nose .38.