The "beeswax formula" is an old GI trick (back in the days when GIs had rifles with wooden stocks). They'd mix it with their issued Linseed or Tung oil. Together they make a great non-shiny military finish and the properties of each complement one another. The "beeswax formula" is still widely used by military collectors, service rifle shooters, and anyone who doesn't care for the dipped-in-plastic-look that most new rifles have.
Here's what I use: mix equal parts of beeswax, pure Tung oil, and odorless mineral sprits. I keep mine in an 8oz. glass baby food jar. Put the lid on a shake it up. If needed warm it up in a microwave for 10 seconds to help the wax melt. It will form a viscous fluid that looks like applesauce. I use my fingers to rub it into a stock, it turns to a liquid, penetrates the wood, let it sit overnight and wipe off any excess. Little goes a long way. I've detailed stripped, power cleaned, sanded, stained, and refinished six M1 Garands and I still have 1/3rd of my baby food jar full.
You've got the beeswax, I've been using the wax from a toilet bowl seal. 100% pure Tung oil is hard to find,
Brownells has it, the stuff at hardware stores will contain a long list of additives - personally I don't want anything that will add shine. The mineral spirits evaporate pretty quick but are an essential ingredient because it helps the oil and wax penetrate the wood. -- Kernel