http://en.wikipedia.org/wiki/Micarta
micarta is a trade mark name for a plastic product produced by westinghouse. the old micarta was asbestos based and began as white and over time yellows. from what i've been told, it tends to provide a softer hit with quite sound properties.
Although the use of asbestos for commercial needs and production is still legal, Westinghouse stopped manufacturing the asbestose based product sometime in the 70s i think due to its safety hazards to thier employees, making it very hard to find. This type of ferrule was used on the early schon cues before Runde left the company.
There is still a product under the micarta name that is produced today. It is white in color and is noted for being alittle to brittle or somethign andcan tend to crack easily.