Hello, guys.  I too have at one time or another thought about duplicating this formula.  Concerning Ozocerite wax...since it is natural occuring..though mineral...would it be considered an organic ingrediant?  Does anyone know any benifits to a lube from it's use..other than sounding quite cool to your buddies?   Good stuff.  Thanks!

.22-5-40,

From the AGI Dictonary Of Geological Terms:
ozocerite - One of the solid hydrocarbons. It is light colored, soft, and consists largely of paraffin hydrocarbons of high molecular weight.

But a word of caution might be advised here... don't let the greenie's find out you're messing around with organic substances like coal or the various forms of petroleum hydrocarbons that were created by natural geologic earth processes from plant-life deposited during the Carboniferous period of the Paleozoic Era. They'll likely hold protests on your front lawn and leave empty tofu containers and plastic water bottles scattered all over your yard for you to clean up after they depart.    

Hello, I have never had a problem with lube cracking..even on bullets lubed for years.  But when I use the synthetic Spermaceti wax I purchased from Charlie Dell..no matter how small the amount..added to pure beeswax, anhydrous lanolin, & castor oil..those bullets after sitting awhile...sparkle!  The do look pretty.   
   Just a thought on those Oleo wads.  I wonder if they were placing them in case mouth & breech-seating lubed bullets?   Back in the 1930's when high velocity jacketed varminting was getting started..Phill Sharp mentions the use of grease wads under the jacketed bullet to reduce erosion.  I even tried these using formula's in Sharp's book, in a .219 Donaldson Wasp.  Seemed to degrade accuracy.

I attended some of the ASSRA matches at the Michigan City "duck farm" range in the mid 70's as a non-shooting spectator member. Somewhere I have a few slides I took at a match in '75 or '76 I think

I have a very clear memory of watching the guys breech seat bullets---my first experience with that idea, watching them de-cap and re-cap cases, measure in the powder, and then press a small sheet of some sort of wax over the mouth of the case with their thumb in sort of a reverse cookie cutter manner; in just the same way that floral foam is currently used.
The wax sheets, perhaps 3 or 4 inches square as I recall were purchased and came in a box with paper separators. I have a less clear recollection they were sold, perhaps by a dentist who was a member.  Early Journals might have an ad for the,.
One of two guys had, what I now think of as a Pope/Darr/Dell lube pump that had a slotted insert that would extrude a ribbon of lube.  The ribbon was pressed into the case mouth in the same manner, not sure what the lube was  must have been a pretty tricky blend to be soft enough to extrude but firm enough and un-sticky enough to handle