What does "putty" mean?

Putty: A kind of thick paste or cement compounded of whiting, or soft carbonate of lime, and linseed oil, when applied beaten or kneaded to the consistence of dough, -- used in fastening glass in sashes, stopping crevices, and for similar purposes. Putty powder, an oxide of tin, or of tin and lead in various proportions, much used in polishing glass, metal, precious stones, etc.