Looks like a miners tag or a livestock tag. I have found several similar ones from where they slaughtered livestock. In alot of mines they would use them to determine who was in or out of the mine, but I could be completely wrong too. Lol just giving my best guess. When I get some time I will dig out the livestock tags I have for comparison. Either way nice find and good luck on the next hunt!
I work for a power company and we use tags that look very similar. We stamp cable numbers on them in substations and refers to a print for easy identification.
another possible use: in the days of mules hauling carts to surface in mines...the miner's would hang their tag on the cars they loaded for ID & count at surface.
looked through index's of trantow's lumber, 2nd edition, & edkins coal scrip, 4th edition, books and found only these that match S.C. & L. Co.
1. spring creek lumber co. -- spring creek, wv (greenbrier county) but no "&"
2. stearns coal & lumber co. -- stearns, ky ( McCreary county) too far away where found