Hey, Bill,
sorry to relate what happened... the fellow who make the Indokril (as i recall the spelling) died, the heirs didn't have any interest in continuing his company, so, like Earl said after we bought the remainder of the stock, the formula was allowed to lapse... no company makes a replacement..
In the pages of L&RP (great news about the stock still available... get it while you can!!) there is an account of using rubber sheets for modern car roof covering in restoration work, Lyn Moedinger does at Strasberg RR... and yes, canvas, tarred, was used in the early 20th century on trolleys in the MidWest. Worked for them , in that climate, and works on 0503... needing some new wood, but roof looked ok last summer, 2000.
If no satisfactory substitute available, why not use a slightly-thinned tar? We are all knowledgable, won't drink the stuff, and it would last, keeping a bit of flexibility for the movement of the wooden slats in the roof...
best wishes...see you there , working...
Darn! Isn't this the most fun you ever had and didn't get paid in money for it???
be well.