The original Silvertips were a softpoint bullet with a white metal (tin?)cap over the soft point. the idea of the cap was twofold. First, it reduced point deformation in the magazine. Second, it was intended to inhibit expansion until the bullet had penetrated a couple of inches. The Silvertip was touted as a serious big game bullet and in larger calibers, it was pretty good. In the 270, for instance, it was a bit destructive but very effective nonetheless.
Original packaging displayed a silvertip grizzly on the box and this is likely the origin of the name and had nothing whatsoever to do with the Lone Ranger.
The Silvertip was actually a pretty good bullet but was bit destructive in some offerings. I always found them to be accurate and in general, I liked them. I still have a couple of boxes of 30 caliber bullets and some 30/06 and 30/40 Krag factory ammo.
During the same time period or a little later, Remington offered the Bronze Point. This bullet used a bronze plug in the tip as Nosler and Hornady use polymer tips today. The bronze point was an explosive performer and it seemed like that bronze tip always found it's way into the middle of a steak. I've bitten into a few. GD