Hi Rich,
Old Master's tung oil varnish contains up to 40% linseed oil and only 5% tung oil. I suspect it is essentially like mixing a little tung oil with Tru-Oil. Tru-Oil is linseed oil that was heat treated (polymerized) to speed drying and then mixed with solvents. I suspect it would be fine finish for a gun stock. I have used Sutherland-Welles polymerized tung oil in low and medium sheen for a very long time and it is my favorite finish because I can duplicate the appearance of almost any original finish by using it in different ways. Let me emphasize before somebody inevitably posts, "well I used tung oil and it took forever to dry", polymerized tung oil dries well in less than 24 hours and to the touch in 4-6. It is not the tung oil product those folks were complaining about. During my years living on Revillagigedo Island in SE Alaska, I could not easily get polymerized tung oil because of the solvents, which forced it to be shipped by barge rather than air and the hazmat cost was high. So I formulated a very, very good alternative. I could get raw tung oil easily because it did not contain any solvents and I could buy polyurethane varnish from the local hardware store. I added (by volume) 25% tung oil, 25% polyurethane, and 50% mineral spirits or turpentine. This was a very high quality finish and it stood up to the harsh conditions of >150" of rain a year and salt water spray from the guns being carried in boats. It just needs to be applied carefully to avoid a brittle or glossy sheen. You simply apply it with a brush or rag, let it sit for 10-15 minutes, and then wipe off all excess completely. Make sure to get into the corners. Here are guns finished with that formula. Notice some have a gloss and others are satin at best. All can be achieved.
A mix of Old Master's Tung Oil (not tung oil varnish) with polyurethane as I described might be a very good finish.
dave
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