Paltry pencil (4)
I believe the answer is:
stub
'paltry pencil' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for stub that I've seen before include "Truncated remnant" , "Fag-end of cigerette or cheque counterfoil" , "Bust (anag.)" , "Strike (a toe, say) against something hard" , "Counterfoil of cheque or butt of cigarette" .)