When it comes to staining and stain color, there are as many opinion as there are taste in women. I've looked at 100's of boats over the last years, read up on every blog and forum post on the subject, and asked all of the most reputable restorers in the country. But what is comes down to, do what do you like. It's your boat. Get opinions from the hobby, make stain samples, put varnish on them, and choose the one you like the best.
Most prewar boats have a two-tone color scheme. Mahogany red/brown hull (to taste), and walnut/dark (to taste) covering boards and king planks.
1st. sealer coat.
10th. build coat varnish applied, and the colors get darker and deeper ask you build coats. Planning on applying 16 build coats, leave the boat alone for 2-3 months to dry out, finish with 4 more coats.