The Collaborative International Dictionary of English v.0.48:

Candleberry tree \Can"dle*ber`ry tree\ (Bot.)
   A shrub (the Myrica cerifera, or wax-bearing myrtle),
   common in North America, the little nuts of which are covered
   with a greenish white wax, which was formerly, used for
   hardening candles; -- also called bayberry tree,
   bayberry, or candleberry.
   [1913 Webster]