The "Ionol"-CP is heated to 100'C. after which the wax and oleic acid are added and the mixture stirred until homogenous. The water phase containing the sodium hydroxide is heated to approximately 90'C. and is added slowly to the "Ionol"-CP phase, with stirring. A high-speed stirrer, such as an Eppenbach Homomixer, is required to obtain a fine particle size and stable emulsion. Caution must be taken to maintain the temperature of the mixture above 85'C. in the early stages of addition of water until inversion from a water-in-oil to an oil-in-water type has occurred. Alternatively, the "Ionol"-CP and water phases can be mixed together rapidly with an ordinary blade-type stirrer to form a coarse dispersion. This, in turn, can be refined in a colloid mill or a Gaulin Homomixer to form a stable emulsion. The equipment used must be preheated to prevent portions of the coarse emulsion from cooling below 85'C. before the refining operation.