It used to be fairly common to coat timber in barns with tar, bitumen or creosote as a preservative (whatever was the cheapest) - hence the black colour that some old beams have, which isn't age as some people suppose. Tar and bitumen clog up sandpaper double quick, creosote isn't quite as bad. Personally I wouldn't sand anything with a preservative on/in it, or burn it for that matter. On big refurbs the way old timber is normally "refinished" is to have is shot blasted with something like coarse ground cherry pits or walnut kernels (not sand or glass). As John says, though, the damaged parts need to be cut out and replaced first