Green’s Dictionary of Slang

chalk, the n.

[? the use of chalk by a teacher]
(US)

1. the fashion.

[US]T. Haliburton Clockmaker III 203: I have had liberal offers from the sect here, for whatever is the go to Europe will soon be the chalk here.

2. the absolute truth.

[US]‘Jonathan Slick’ High Life in N.Y. II 202: I tell you what, it was the clear chalk, the ginuine thing.