When the Alcan Co of Alton IL was still supplying reloading components they listed their fiber wads as being "Ring Waxed". I believe they used a process where the wads were rolled through a shallow pan of melted wax, only applying it to the outer edges. This put the wax where it was needed but also kept down the weight of the wad by not totally saturating it.
A 50/50 mix of Beeswax & Mutton Tallow is reported to be an extremely good lubricant for anything Black Powder related; wads, patches or grooved bullets.
