Re: 50’s Johnson gear lube substitute?

[captchuck]

So Dad always told me to use Lubriplate (from a tube) in all the non electric shift engines. It was/is a thick white grease. The reasoning was it lubricated the gears fine and would not mix with water should your seals leak. Thus at the end of the season just open the lower fill screw and let any water in the unit drain out. The lubriplate stays put in the lower unit. Have I been lucky in that I have not had any problems or have others used this same grease?