[NJARC] NJARC Digest, Vol 121, Issue 22

[kolson at rcn.com]

A friend used to coat the entire speaker cone with Neetsfoot oil to help renew dried out speaker cones.  Do this after any repair work, not before.  The glues won't stick to the cone once oil is applied. 

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This combination of natural and synthetic oils is used by saddlemakers and bootmakers to soften, preserve and waterproof. It lubricates the fibres which restores suppleness. 
Great For Use On Outdoor Leather Gear Such As Boots & Baseball Gloves. 
It Lubricates The Fibers Which Restores Suppleness. 

>From John Golumb "The Glove Doctor" site http://www.thesportsdoctor.com/LeatherCleanCondition.html 

Neatsfoot Oil: Does not get a recommendation from any reputable glove source that I know of. Some of its source ingredients are used in several other cleaners and conditioners but reportedly safely so. Most glove collectors have seen the results of neatsfoot applications especially if overly used. "Hard As a Rock". 
I've suspected that Glovolium TM, a product of Rawlings, once contained a possible bad neatsfoot makeup. It may not any more. Rawlings, it seems, used to spray their gloves a bit with Glovolium in the 1950s before putting the gloves 1into their glove boxes. The problem was evidently intensified when they added wax paper to the inside of the boxes. 
I've purchased Rawlings 1950s gloves where the apparent Gloveolium and the wax paper turned the gloves into crisp black "toast". I still have one of the Bob Skinner mitts to prove the point. 

Added by me (K3OX). I noticed the same thing. Neetsfoot oil is not good for leather in the long run, it tends to darken and dry it out, the patina of the glove can even turn shiny . And my advice is DO NOT PUT NEATSFOOT OIL (or any other oil) ON SPEAKER CONES. At least not if you like the speaker... 

Kevin