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 .