Found this on the web. it appears to describe the pipestem that you have.

http://dnr.alaska.gov/parks/oha/castlehill/pdfdocuments/chapter10.pdf

The description is near the bottom of the page under "clay pipes" heading.

--- On Wed, 6/10/09, Greenlee, Rachael <[log in to unmask]> wrote:

> From: Greenlee, Rachael <[log in to unmask]>
> Subject: Glasgow tobacco pipes?
> To: [log in to unmask]
> Date: Wednesday, June 10, 2009, 12:50 PM
> Greetings all,
> 
>             During survey in
> New Castle, IN, I came across a ball clay
> pipe stem with "Glasgow" on one side, and the other side is
> too worn for
> me to make out. The word Glasgow is in all capital letters,
> framed by a
> shape that looks like the outline of a tootsie roll, and
> the number 72
> is off to the right side (towards the bowl) in a different
> font.
> 
> I've looked at www.claypipes.com <http://www.claypipes.com/>  and
> http://www.dawnmist.demon.co.uk/pipdex.htm but have
> found no information
> about pipe manufacturers in Glasgow. I've also looked
> through Rapaport's
> Antique Pipes and searched the HISTARCH archives. Can
> anyone offer some
> information? I'm really just looking for a date range, but
> if I could
> match a maker's mark that would be excellent.
> 
> I should also mention, that I'm only 90% sure that it says
> Glasgow. I
> had to do a rubbing, and it looks like the most plausible
> word. The
> rubbing of the other side didn't reveal anything. It's too
> worn. 
> 
> Thank you in advance!
> 
> Rachael Greenlee
> 
> Archaeologist, Cultural Resources Section
> 
> Office of Environmental Services
> 
> Indiana Department of Transportation
> 
> 100 N. Senate Ave. Room N642
> 
> Indianapolis, IN 46204
> 
> 317-234-1900
> 
> [log in to unmask]
> 
>  
>