Since there was NO Model of 1894, it is most likely a US Krag Model of 1892.
Below is a list of the US Krag Models......
U.S. Magazine Rifle, Model of 1892
U.S. Magazine Carbine, Model of 1892
U.S. Magazine Rifle, Model of 1896
U.S. Magazine Carbine, Model of 1896
U.S. Magazine Rifle, Model of 1898
U.S. Magazine Carbine, Model of 1898
U.S. Magazine Carbine, Model of 1899