Turns out the finish is mostly shellac, it was all alligator skinned and after several applications of denatured alcohol this reduced this. The stock cleaned up so much it looked too light so I put several coats of alkanet root turpentine and linseed oil on it. Then I rubbed in several coats of a slacum mix of varnish, oil, shellac turpentine and wax. I think once I rub it down and wax it it will look pretty good. It will be ready for another 85 years of use.
Enjoy the old Iver Johnson. If not completely worn out, they are nice, easy-carrying shotguns.
