EARNINGS: Be Sharp, Feel Sharp

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...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!