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Gillespie Scalp Invigorator
This was the primary product of the Gillespie Manufacturing Co., of Boston, Mass. There's tons of info on this product in the pamphlet (view). In 1910 and 1920, articles were published reporting actual contents of various preparations. They said this preparation was about 20-24% alcohol, and contained glycerine, borax, and red pepper.

BOTTLE DESCRIPTIONS
1 Rectangular, 6 3/4", square top, no panels, BIM, clear, front: "GILLESPIE'S - SCALP - (tm) - INVIGORATOR - BOSTON, MASS. (horizontal)"
2 Square, 7", square top, no panels, BIM, clear, front: "THE GILLESPE - SCALP INVIGORATOR"
Gillespie's Bottle