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Philadelphia writer and producer Thom Bell and lyricist Linda Creed wrote this. This song is about giving everything up for love.
The Stylistics were formed in Philadelphia in 1968 by the members of 2 groups, The Percussions and The Monarchs. After local success with Sebring Records, they were signed by Avco, teamed initially with Thom Bell and later Van McCoy. During the early '70s, the band had 12 straight Top-10 hits, including "I'm Stone in Love With You," and also "You Are Everything," "Betcha by Golly, Wow," "Break Up to Make Up," and "You Make Me Feel Brand New." In the UK they were just as successful and they had a #1 hit in 1975 with "Can't Give You Anything (But My Love)." All of their hits were ballads featuring the soaring falsetto of Russell Thompkins jr.
In 1975, Johnny Mathis recorded this for his album I'm Coming Home, which was produced by Thom Bell. His version hit #10 in the UK. (thanks, Edward Pearce - Ashford, Kent, England, for all above)