Courtesy of Tom Archer
 
If a shooter has an L.C. Smith shotgun he/she wishes to shoot regularly, I would strongly encourage sending the shotgun to a gunsmith specializing in doubleguns and have the following work done:  Thoroughly degrease the stock and inspect it for any wood damage (cracks or crushing), repair and reinforce damaged wood surfaces, glass bed and coat all inletted areas with a modern epoxy compound designed for such repair, and reinforce critical areas with fiberglass gauze fabric. Degreasing will remove all original finish; so a new finish must then be applied, and often (for appearance purposes) one will wish to recut checkering.  Done properly, the reinforced stock is impervious to moisture and oil.  Provided that the tang and lock plate screws are kept properly tightened (not over-tight), the shooter should have no further stock problems.

After carefully checking the stock and finding no cracks or oil soaking, you might paint the head of the stock and lockplate inlets with Goat Tuff Glue Apply until the wood will absorb no more, allow to cure several hours, then reassemble.

Oil in the wood will prevent the glue from being absorbed however.
Please see
http://www.picturetrail.com/sfx/album/view/17090409
http://www.picturetrail.com/sfx/album/view/20576154

 L.C. Smith stock damage.