Agree with LP - - -
- - -and, expounding farther - - -
We can consider the .38/40--180--1160 fps load in much the same light as a 180 gr. .357 revolver load from a six-inch barrel. It has a little larger frontal area, though, and the carbine (or is it a rifle-length piece) does give you a superior launch vehicle.
It is a stunt, of course, but certainly do-able, given the proper circumstances. Couple of relevant questions - - -
Locale of the proposed black bear hunt? What size do the bears typically run? What time of year? Some places and some times of year, bear wallow in mud when convenient, to keep off the insects. Dried mud in bear fur can be very like armor plating, and penetration
might be a problem.
The more I think about it, the more I'd be inclined to use your .32 Win Special for bear, and hold the .38/40 for a white tail deer.
Best,
Johnny