The .358 Winchester was introduced in 1955 as a modern, short action replacement for the aging .348 Winchester, which was available only in the Model 71 lever action rifle. Although its case is smaller, ballistically the .358 Win. Is nearly identical to the larger .348. This miracle is achieved through higher pressure, up to 52,000 cup in the case of the .358 Win. The .358 case is simply a .308 Winchester case necked-up to accept standard .358" diameter bullets, and otherwise unchanged. The maximum overall cartridge length is 2.780" and it will function though all standard short action rifles. 

This text is based on information from “Cartridges of the World”, Hodgdon reloading manual, the cartridge designer and/or own resources.