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"Honic's baldpate hair tonic never fails," says the ad from a 1918 issue of Cosmopolitan magazine. The copy continues: "Nourishes and strengthens the follicles and thus promotes the growth of the hair. Relieves the scalp of unhealthy accumulations and secretions. Gives a rich gloss, is highly perfumed and free from oil. Makes the hair light and fluffy."
In other words, it sounds like this is a bottle of shampoo. And a mighty expensive shampoo it was too at $1 a bottle in 1918 money.