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Encyclopedia Britannica



SCRIP

This article appears in Volume V24, Page 483 of the Encyclopedia Britannica.

Encyclopedia Britannica - Main :: SAR-SCY
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 ultimately 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
penny
  stamp impressed upon it. The word is frequently loosely used for the
share
  certificates or shares collectively.


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