This "Wonderful Liquid Magic" created by Carpenter Morton Company, was a liquid used to color straw hats, satin,  silk and cotton slippers, as well as basketry. On the box it states that Colorite is an entirely new discovery in colors applied to liquids. It is not a dye or paint. There is nothing made that resembles it, or that will produce equal or similar results. That is a big claim and you could buy a bottle for only 25 cents. This 4 1/2 bottle still contains about a quarter of the liquid.  There is no date, however by the picture on both the box and bottle, I would assume this dates back to the late 1800's or early 1900's. If you collect unusual items this would be a nice addition.  As you can see by the pictures it is pretty good condition considering its age, even comes with the brushes. There is no top on the box itself.