This was one of the products of the Goldman family of Toledo, and later Minneapolis and St. Paul. Benjamin T. Goldman registered the picture trademark shown for a "Hair Restorer" in 1906 (#50,573). He claimed that he or his predecessor had been selling the Tonic since 1901. In 1922, the word "Goldman's" was registered as a Trade Mark for Hair Dyes & Tonics (TM #155,696). They indicated at that time that their name had been used on hair preparations since 1870.
Fike said that a labeled variant of the bottle called the product "Gray's Hair Restorative." It's possible that Mary Goldman acquired the brand from Day Hoagland & Stiger sometime after 1866. Another possibility is that the other Gray's Hair Restorative had completely faded by then, and that she had another source. There was an Orrin Gray in Minneapolis in 1890 who claimed to be in the Patent Medicine business, but the directory didn't say what his product was. It's very possible that he invented the preparation for Mary Goldman originally. There were 3 different products, depending on the desired hair color. I've found ads for this product up until 1946.