The program we now call Cub Scouts was originally called "Cubs, B.S.A." and was referred to as "Cubbing" in all materials. In 1945 "Cubbing" became "Cub Scouts." So the shirt above must have been made between 1930 and 1945. A wonderful and, if I may say so, very well-preserved piece of history!
Getting back on my agism soabox ... how much worse would it have been to tell, the kid "Thanks for the 4 months leading our troop as a Life Scout. To round out your requirements Eagle, simply complete the requisite training for ASM and serve the remaining two months of your tenure serving our troop or one near your college."?
Yes, it is an Eagle project. The requirement does not specify "while a Life Scout who has made rank by age 17.51..."
Personally, I would not want to go through the hassle of the project workbook just to do a service project. However, for a scout with aspirations to be an engineer, it might be a worthwhile exercise. My kids (all chemical engineers -- not a creative bone in the lot of them) spend a lot of time filling out specs and tracking sheets and chasing approvals.
The article seems to indicate that the scout did the math. But, anybody who gives $ to a scout because they think he'll get a medal out of it should be flogged. Either the project is worthy, and we should contribute to it, or it's just for bling, in which case we should give the kid a shovel and tell him to dig for silver.