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The filler I use is made from scraping a scrap piece of walnut with a new razor blade. Scrape the wood in one direction almost like your giving the wood block a shave. I used to use a scrap piece of walnut Garand stock that I cut up, but I prefer the color of this piece of walnut. You want the scrapings to be almost a dust consistency. Get a good quantity of wood collected.

Add some wood glue a drop or two at a time while mixing the wood and glue together with a nail or toothpick. Do not add too much glue. I use Gorilla wood glue.

When you have a thick glob of the wood and glue fill the holes leaving a bit above flush. Make sure you force it into the holes. It has to fill the holes completely.

Use the edge of a razor blade to push the glue into the fine cracks. Push the glue in pretty hard. It is a very thin crack so it is fairly hard to force the glue in, but it will go.

LATER....

After the glue has dried (I wait overnight) use the edge of a sharp razor blade and scrape the excess glue away carefully. Do not use sandpaper. Sandpaper will leave marks in the glue surface. It is easy to blend accurately around the repair area. Take your time and you will have something that looks like this. The 2 holes are almost invisible and the cracks on the sides are filled nicely.

At this point continue to apply the boiled linseed oil at the rate of 1 or 2 coats a day. Follow the linseed oil instructions. Remember that linseed oil dries inside the wood so all excess needs to be removed before it gets tacky on the surface. It will never dry properly if left on the surface of the wood. As you apply the coats you start to see much more pronounced grain and a deep rich finish. I will never apply less than 8 coats of BLO and usually apply 12 or more. You will be amazed how much better the stock looks after each coat.

The stock went from a rack grade mess to a pretty nice looking piece of wood after about 10 coats of oil. The cartouche was saved and you can barely tell it was masked off in the beginning. As the finish ages the stock will keep looking better and better.

I hope this helps save some of the diamonds in the rough out there from the scrap pile.