Must have been your granddads, I used to use it, solid brown wax, rub it on and let it dry, then rub like mad with a soft cloth and you get the fantastic results that you see on your car.
You will also find that it lasts quite a few washes, beads up when it rains, also builds up the shine level every time you use it.
Dont use it when its really sunny as it takes a lot of elbow grease to shift it and get a shine. Keep the lid on tight as the wax used to dry out.