"Carbolated" in the name refers to the addition of phenol (carbolic acid). It was also marketed as Vaseline brand First Aid Petroleum Jelly, occasionally with "Medicated" included in the name somewhere. Vaseline has discontinued this particular version of their product, but Vaseline Intensive Care lotion contains the related compound phenoxyethanol.
J.R. Watkins' Petro-Carbo Salve (available, among other places, at Walgreen's) is a similar product.
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