It appears to be inlays over a through-bolt installed because the stock head had split. We see a lot of these and probably the most noteworthy is KM's small bore AH with ivory diamonds, very similar to yours but considerably larger.
As for the butt treatment - a leather covered pad would be quite acceptable for a few hundred dollars or perhaps a simple Silvers type of orange non-adjustable recoil pad would be sufficient..
Plaisted is an old and interesting name in Southeastern Maine and I worked for twenty-nine years for a Mr. Stutz Plaisted.
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