Hi Tim.
Given that you’re in Scituate, RI, I think this may be a token or tally from W. F. & F. C. Sayles who operated the Moshassuck Bleachery at what became Saylesville, about 50 miles from you. William F. Sayles bought a small print works plant in Lincoln, Rhode Island in 1847 and converted it into a bleachery in 1848. William was joined by his brother Frederick C. Sayles in 1863, the company then becoming W. F. and F. C. Sayles.
The brothers expanded operations, acquiring control of the Lorraine Manufacturing Company and Slater Cotton Company in Pawtucket, alongside other regional textile and dye works, ultimately becoming the largest cotton-textile bleachery and finishing operation in the world. The village location within Lincoln where the Sayles brothers bleachery operated was officially named Saylesville in 1881.
The W.F. & F.C.S partnership ended in May 1894 with the death of William. Then, in 1896, William’s son Frank A. Sayles formally bought out Frederick to reorganise the company as F. A. Sayles/Sayles Bleacheries until it was wound down in the early 20th Century.