The Collaborative International Dictionary of English v.0.48:

Tolu \To*lu"\, n.
   A fragrant balsam said to have been first brought from
   Santiago de Tolu, in New Granada. See Balsam of Tolu, under
   Balsam.
   [1913 Webster]

   Tolu tree (Bot.), a large tree (Myroxylon toluiferum),
      the wood of which is red in the center, and has an
      aromatic rose odor. It affords the balsam called tolu.
      [1913 Webster]

WordNet (r) 3.0 (2006):

tolu tree
    n 1: medium-sized tropical American tree yielding tolu balsam
         and a fragrant hard wood used for high-grade furniture and
         cabinetwork [syn: tolu tree, tolu balsam tree,
         Myroxylon balsamum, Myroxylon toluiferum]