THE CHAMPION LIAR OF CHICAGO

I have the following token the purpose of which is puzzling to me.

19.6 mm Copper-Nickel O: COMPLIMENTS / .-OF-. / DEL. S. GRAVES / 56 S. CLARK ST / CHICAGO (within beaded circle) R: THE / CHAMPION LIAR / - OF - / CHICAGO (within beaded circle)

The earliest reference to this token I could find is in the Lyman H. Low Auction Catalog of April 13, 1906 (thanks to the Newman Numismatic Portal) which has the following description:

I assume the note in red indicates it was sold for 35 cents.

The latest reference is: Ore H. Vacketta "Trade Tokens of Illinois (1983) number chi-GA36. In this catalog it is stated that this token dates circa 1914.

On www.tokencatalog.com the id is TC-133496 (Richard Greever)

Chicago City Directory information:
1887 Chicago CD: Del S. Graves, saloon, 56 Clark
1888 Chicago CD: Del S. Graves, saloon, 56 Clark
1889 Chicago CD: Del S. Graves, saloon, 56 Clark
1890 Chicago CD: Del S. Graves, saloon, 56 Clark
1897 Chicago CD: Del S. Graves, saloon, 56 Clark
1899 Chicago CD: Del S. Graves, saloon, 13 N. Clark
1900 Chicago CD: Del S. Graves, saloons, 13 N. Clark and 1559 State
1900 Census: S. Del Graves, liquor dealer

What I would like to know is: What was the purpose of this token? Any information about this token will be appreciated

To read the complete Token Catalog entry, see:
Chicago, Illinois (Cook County), U.S.A. : TC-133496 (http://www.tokencatalog.com/token_record_forms.php?action=DisplayTokenRecord&td_id=133496&inventory_id=577391)

	NBS (coinbooks.org) Web