George it was me with the mistic. Its what we used to call the soluble oil / water mix years back when I was working in the tool room. Lathes and mills used milky stuff but grinders used a clear solution, either way it was all known as mistic. Using the term outside of a tool room or machine shop could cause puzzlement – think druids and shamans
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Another common term used for soluble oil / water mix is "suds" but unlike mistic "suds" is not used when referring to grinders which only use mistic 
Mike – I am swapping to soluble oil after two years of using "Neatcut" because I have relocated my workshop to new and bigger quarters which unlike my old workshop are double glazed, insulated and heated (and yes George, it is VERY cosy). Rust now is no longer a problem so using cutting oil to prevent it is no longer necessary. I prefer mistic anyway as it is less messy. I used to wear thin vinyl gloves when using cutting oil for health reasons but the oil would rot up to four pairs a day. I intend to continue wearing them but I don't think mistic will have the same effect. Bear in mind that I was using the oil pumped so there was a lot sloshing round.
I have just finished moving contents from the old workshop and lots of kit has had to be cleaned from oil and clinging swarf so I shall not regret its passing.
Whilst on the subject of mistic, in one place that I worked long ago the capstan section setter was a little old Geordie who loved his crusty cheese roll at morning tea break. When the hooter sounded tea break end he would remove his teeth and wash them under the mistic flow on one of the lathes then blow'em out with an air line – honestly, I'm not joking! Funny thing was he only ever did this on one particular blokes capstan.
One day we were having a laugh about it and I asked Geordie why he only ever used Rodneys machine to dunk his dentures. He gave me a pained look and replied "Hygiene of course" —— and he meant it !
Rik