With the word 'member' stamped on the face, could indicate a trade union/association of some sort. Just a shot in the dark, but there was an organization known as the Gray Iron Founders Society out of Cleveland OH that dealt with foundry work and steel castings.
I believe Craig nailed this one. Further investigation finds that the Gray Iron Founders Society was organized in 1928, which falls right in line with this Scott issue. It appears to be an organization of engineers in the foundry industry.
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