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There's more interesting mechanical features of the gun, the first is the big pivoting crank charging-handle, which you see on other guns like the Maxim machinegun (the big watercooled ones on tripods and vehicles), but then you have the top mounted magazines, which don't have conventional feed lips, rather there's a big and long leaf spring which holds the cartridges in place, which are then released to the feed when inserted, where there's a wedge which pivots out of the way to accept one cartridge at a time, then pivots back to push it into the feedway, also making sure the next one doesn't "cut in line."
As there's no feed lips to have to accommodate the exact shape of cartridges, .30-06 Springfield and 7.92mm Mauser (which have some rough dimensional similarities) fit and function with the same magazines, and the gun was available in a lot of different rifle cartridges, both rimmed and rimless ones, so you'll see some with very curvy magazines. Capacity varied from contract to contract, but there's ones between 25 and up to 40 round capacity.
The previous picture is a photo from an Anon on /k/, I'm unsure of if it's an actual full-auto one or a semi-auto only parts kit rebuild, but either way I'm sure it's one of the jewels of his collection, it's an incredibly cool gun. The fact that the Madsen machinegun is so unusual and unlike anything else successful, and yet functions so well and is actually so good at its role, while being the first of its kind, really makes the weapon a marvel of small arms engineering, and it has some very cool history to it as well.
