The transfer bar stays up until you release the trigger, sounds to me like the firing pin return spring is broken/gummed up. To check the firing pin, open the action and push the firing pin forward with a screwdriver tip so it projects out the front of the breech face, it should retract on it's own.
To check the function of the t-bar, cock the hammer, then hold the hammer and allow it to go forward gently as you pull the trigger all the way to the rear, the t-bar should come up and transfer hammer pressure to the firing pin and the pin will project out of the breech face. The t-bar or t-bar spring may be broken/bent/goobered.
Tim
