The glue was powdered urea resin, and AFAIK it's still available
today, however the brand names escape me ATM. It used to be the glue
of choice of boatbuilders because it was considered waterproof.
According to one source located by google its no longer considered
that but still used extensively by boaters. It will not withstand
boiling water either, whatever that means. Dont know too many people
who boil their boats.

You are correct -- I am currently building a weekender sailboat, and we are
using the powered urea resin glue. It is considerably cheaper than epoxy,
which is the other construction choice, but very brittle. I think they use
it for veneering as well. That might be a good use for it -- quick drying
veneer if you don't have a veneer press? If your boat is falling apart
because you are sailing through boiling water, something very very bad has
happened.