Marked "J Randal, Sundridge Park" and made in the UK, this mashie has two deep slots on opposite sides of the hosel that spiral down the hosel.  The slots are open to the wood shaft which is visible therein.  The reason for the slots was to remove unneeded weight from the hosel and add it to the head, thereby locating more mass behind the ball without making the club any heavier than normal.  One problem with this concept was the fact that such dramatically large, open slots in the hosel allowed moisture to get inside the hosel and soften the wood, potentially causing it to rot.  Needless to say, this was not a popular club.