This chip was posted awhile back and their was some differences of opinion on what the initials stood for. I pulled the card.

Wm Morrision
Saratoga Springs, NY.
1,000 yellow and 2,000 brown.
No other information on the card. No dates.
Not unusual for the Mason Co. They sometimes protected the illegal operators when requested to do so.

William "Scotchy" Morrison has been attributed as manager of Smiths Interlochen in Saratoga Springs.
TGT lists the club as 1940's - 50.
I am going with this ID unless someone proves otherwise.