Green’s Dictionary of Slang

spug v.

(US) to drink.

[US]T.A. Dorgan Silk Hat Harry’s Divorce Suit 12 Dec. [synd. cartoon strip] Showing route taken by the Hon. Judge Rumhauser who did his Xmas spugging early on the way home.
[US]H. Green Vaudevillians in Omaha Dly Bee (NE) 19 Dec. 9/5: I have to hurry home [...] to work on the Christmas tree. No spugging for me .