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Yes. According to Taylor : Thanks to a modern hammer safety, not found on the original 1873 model, the Cattleman revolvers can be carried with all six chambers loaded when the hammer is in this first position. The second click frees the cylinder to rotate clockwise for loading. The third click is fully cocked. With the hammer in this position the revolver is ready to fire.

No Transfer bar. But my Taylors has 3 other safeties. There is the one that is a quarter click on the hammer, this is made to be where you have the hammer when you carry it. Then there is the inertia safety built into the hammer face. Then there is the cylinder pin on these. You push a button and slide the pin in and it goes through the frame and blocks the hammer from coming down all the way down on the cartridge.

No transfer bar on the Taylor's model,just the firing pin.