Emulsifiable resoles having dispersed inert salts

An improved stable aqueous solution of an emulsifiable resole wherein the solution has a pH in the range 6 to 8.5 and contains less than 2 percent of free phenol, less than 2 percent of free formaldehyde, said resole has a number average molecular weight of less than 300, a water tolerance between about 100 and 800 percent, a combined formaldehyde to phenol molar ratio in the range of 2.0:1 to 2.9:1, and contains sufficient methylolated 2,2'-and 2,4'-dihydroxydiphenylmethanes to inhibit crystallization of the resole solution, said resole being prepared with a catalyst comprising alkaline earth metal hydroxides selected from the group consisting of calcium, barium, strontium and mixtures thereof wherein said improvement comprises:

• said pH being adjusted with a compound selected from the group consisting of oxalic acid, ammonium oxalate and mixtures thereof providing a stable colloidal dispersion of insoluble oxalate salts of said alkaline earth metal ions in said solution, said resole and said salts being emulsifiable by about 1 to 12 percent by weight of an emulsifier based on the weight of said resole, said emulsifier being selected to provide a stable emulsion of the resole and salt when water in excess of the water tolerance is added to said solution.