SCRIP, properly any written document; the word is a corruption of " script " (Lat. scribere, to write), possibly from an assimilation with " scrip," a pilgrim's bag or wallet, which is borrowed from the Scandinavian (cf. Nor. skreppa, knapsack), and is ulfimately cognate with " scrap," shred. 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 pennystamp impressed upon it. The word is frequently loosely used for the share certificates or shares collectively.
Note - this article incorporates content from Encyclopaedia Britannica, Eleventh Edition, (1910-1911)