When it bought the Toni home permanent wave slightly more than two years ago, Gillette Safety Razor Co. paid plenty for its new investment. The total: $20 million to Toni's Yale-bred, back-slapping Owner Richard Neison Wishbone Harris (TIME, Jan. 19, 1948), of which $12 million was cash. (The rest was to be paid out of Toni profits.) But the deal certainly gave Gillette's profits a well-barbered look. Last week Gillette President J. P. (for Joseph Peter) Spang Jr. announced that in 26 months Gillette had earned $8 million after taxes on Toni. With Toni sales still rising, Gillette could...
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