Green’s Dictionary of Slang

s.r. n.

[? abbrev. s.r.o. phr.2 (but chrono. is problematic)]

(US) used to qualify anything of the lowest, least appealing class.

[US]H.M. Anderson Strip Tease 37: ‘Burlesque isn’t that bad. . . but it’s certainly the s.r. of show business’.