Bob writes: P&R stand for the Philadelphia and Reading Railway. I worked for them for six months in 1966 while going to college. Their last name was Reading Company. The token was probably a drinking cup dispenser token. The are similar ones for the PRR or Pennsylvania Railroad. I remember at 30th Street Station in Philadelphia you had to put in a penny (I think) to get a little paper cup to drink at the drinking fountain.
John writes: This is almost surely a token from the Philadelphia & Reading Railway in Pennsylvania. I can't remember the history of when it was merged or otherwise acquired, probably in the 50's or 60's. It had both freight and passenger operations, including commuter services out of Philadelphia, which still operate, at least to some degree, under the aegis of the Southeastern Pennsylvania Transportation (Transit?) Authority (SEPTA).
As far as the token is concerned, I have no idea how it was used, but it probably was not a fare token.
