All of the advice here is good. I think it boils down to, if you feel good about it and want to keep it, keep it. If you have a bad feeling about it, send it back.

Every single surviving 1890's vintage Parker is a unique specimen. Many guns of this era have been lost, many have cut barrels or stocks, amateur pad installations etc etc. I feel a kind of magnetism towards a gun such as this. I feel for certain that this guns owner has passed and the family had no use for it and they simply turned it in for whatever value it could realize. I just don't get the feeling that this particular Parker Bros. double gun has been to a hundred gun shows and passed from one owner to another. It's an honest old gun that's had it's share of use but hasn't been unfairly disrespected other than the imperfect screw heads. The gun locks up tight and hopefully has many more years of service with proper feeding and care. I could just put it away and ponder it's repair down the road. I'm pretty sure they're not making any more like this one. I'm poor at making good decisions, even with help, Bruce

Don't second guess your gut instinct. If that is how you feel, keep it and make repairs along and along.

If you bought it not knowing it was cracked and especially if it was not advertised as so, send it back. If it cracked after firing it, then you own it.

I tried to send a PM last weekend but the second one would not go through. This GH looks tighter than the one I saw. Also you haven't mentioned any dents so that appears not to be an issue. The dents I saw were VERY visible. I don't remember any cracks but once I saw the depth of the dents I really lost interest fast especially after I couldn't get any help from the staff.

There is lots of good advice here. Mine would be to find another one.

It seems that just about every Parker I have ever bought from a distance has had issues that the seller conveniently neglected to mention. Pitting, corrosion through blueing, loose ribs, stock chips/scratches/dents-serious ones, dysfunctional innards, you name it. These from some of the biggest dealers in the country too, and of course I've generally paid a bit too much for the gun also. I can only conclude that I somehow project an image of being an easy mark and a patsy over the phone and even over email and they just stick it to me as best they can. I'd be PO'd enough at this gun to send it back immediately as a matter of principle. It wouldn't have made it more than 12" from the box before I'd be wrapping it back up for return. There's no excuse for that one. There are a lot of very nice G grades out there to be had for reasonable prices. BUT, if you're the kind that likes to take in crippled puppies to be healed, by all means keep it and fix it. It's not that much money as long as the bbls are sound and will be a nice gun when fixed up properly.

The Stock Doctor or Mark Larson will charge you a fortune to fix this gun. Their work is good but their charges are over the top. Their services are not for people wanting to have a $700 gun fixed. Send it back. It is a money pit. Who is this seller of guns with cracked stocks who doesn't come clean about it?

Update:
 

Negotiations were started today to resolve my dissatisfaction with the Parker Bros. GH that has a cracked tang that was not disclosed when describing the gun on the telephone. I called the business and talked with an associate and we discussed possible remedies that would be suitable. Aside from just returning the shotgun I suggested that I should be credited $275.00 for the repair cost. He told me his boss would be in touch with a decision. Guess what, I didn't get a return call today. In terms of immediate headache relief I'm going to print up a FedEx label and drop the package off in the morning. I appreciate everyone's help in this matter. Thank you all for being here to share my misery. Bruce

I just paid $1000 for a pretty rough GH with little finish, but some on the barrels. Nice bore, wood about like yours full and full. I have shot it and the guns shoots great and it hits.

I see GH's for $1000 on up and seldom do I see one that is anything very nice for under a grand. So, yeah you'll be into the gun for a bit more than it is worth...maybe but you'll have a nice gun. I see them going for $3K all of the time and many do not look much better than yours.

I don't fret too much about money when I buy a Parker. Sure you might pay too much, but you'll have a Parker and that is worth a premium. I would check the barrel thickness. You want a gun that you can shoot with confidence.

Some people buy Parkers for show. I buy mine for blow, so shootability is my first consideration.

They always told me, "You can't pay too much for a Parker,you can only buy it too soon!" :):)