Token?

clump63

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Probably not a token, but more likely a tool check or the like. Manufacturing companies often had a tool room where tools were checked out to workers for the day. Each worker had a spot on a board where these tags (which were numbered to correspond to a particular tool) were hung when the tool was taken. When the worker returned the tool, the tag was put back with the tool. At the end of the day, if there were any tags left on the board, the paymaster would be notified to subtract the value of the tool from the workers who had not returned the tool.

Numerous variations exist on the use of tags like this. For instance, if the business were a retail watch repair shop, a customer bringing in a watch to be fixed would receive a numbered tag and the watch would go into a pigeonhole with that number. When the watch was fixed, the customer would have to present the tag (claim check) to get his watch back.

A little research in the old city or business directories in the area where it was found might reveal the name of the company.

John in ID
 

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Heating and air company. :icon_study:
 

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