Win 71 has provided a good history on this cartridge. Early velocity was listed as 1,481 f.p.s. and was later increased to 1,552 f.p.s.
I have fired many .22 W.C.F. equivalent smokeless loads in my .22 Hornet '43 Winchester along with over 300 black powder & substitute b.p. loads.
I get excellent accuracy with 45 gr. cast NEI or Lyman's 225438 and smokeless. After trying a number of loads and powders, the one that has given me the most consistant results is 3.3 grs. of 231 and a CCI 300 primer (small pistol).
I am still trying to find a black powder load that will shoot in to 1" consistantly @ 50 yards. Most of my b.p. groups are in the 1 1/2 - 2" range at that distance.
Surprisingly, I have also had good success with Lyman's 225462 bullet.
At 59 grains in Wheelweight + 2% tin, it shouldn't shoot that great in a 16" twist barrel but at 1,500 f.p.s. it does. The last group I fired with 3.8 grs. of 231 and this bullet @ 100 yards had 5 shots in 1".
Good luck,
w30wcf