Scrip

Definition and stakes

Joseph McKenna,  Midway Company v. Eaton (183 U.S. 602…

“ The consideration of the location of scrip under the act of 1854 came before this court again in Felix v. Patrick, 145 U.S. 317, 36 L. ed. 719, 12 Sup. Ct. Rep. 862. It is a good complement to the other cases. It recognized, as they did, the difference between the transfer of the scrip itself and its location by or in the name of the half-breed, as a means of conveying the land located upon. There are expressions in the opinion that seem to go further, but they must be considered in reference to the facts. ”
Source: Wikisource

Lena Jane Fry,  Other Worlds

“ Scrip was issued with the consent of the officers in charge and only issued to the amount of their security. The signature of the president, secretary and cashier was necessary to make it legal.
It was issued for the purpose of exchange among members. It paid for any kind of labor done for the society, the president having power to issue sufficient to satisfy the demand of its members.
One benefit of scrip is that it cannot be stolen nor can it be issued by any one except those appointed by the society and it must be for value received.
”
Source: Gutenberg

1911 Encyclopædia Britannica (1911)

“ In commercial usage, “ scrip ” is a document or certificate issued by a public company when instalments upon its shares are payable at different dates, or the whole amount to be paid has not been called up; Such a document entitles the person named to be treated as the allottee of the shares mentioned; it is transferable, and entitles the allottee on payment of all the calls to a share certificate. Scrip requires a penny stamp impressed upon it. The word is frequently loosely used for the share certificates or shares collectively. ”
Source: Wikisource

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