Chances are the action is full of years and years of dried up lube and probably fouling, grit, and gunk.
For some reason, many people seem to think that shotguns need NO cleaning, so they don't.
I'd guess the shell release (Winchester calls it a Cartridge cut off) is either stuck, broken, missing, bent, or otherwise fouled.
I'd start with a good cleaning and lubing. Be sure to get all the gunk out from around the shell release.
Here's a good exploded view:
www.again.net/~steve/ipb-winchester-12.htmlThe Model 12 doesn't have a disconnecter, so if you hold the trigger back and pump the gun, it will fire.
This looks "COOL" but it's HARD on the gun, and you can't hit anything.
In other words, it's a range stunt that isn't good for a fine old gun.
Some of these old Winchester Model 12's are worth a fair amount of cash. Get it fixed and don't abuse it.