The slotted hosel on this MacGregor mid-iron was patented on May 14, 1918 by George W. Mattern. Based on the same principles behind the "Maxwell" hosels, which were made with circular holes, these slots allowed the maker to add the removed hosel weight back to the blade (usually by making the sole thicker), and when force-fitting the wood shaft into the hosel, the shaft would expand into the holes and form a tight bond with the head.
The 38" shaft and leather wrapped grip are original, complete with a "Made by Crawford, McGregor, and Canby, Dayton, Ohio" stamp on the shaft.
The clubhead is stamped with MacGregor's signature "accurate" arrow, "Superior," and a rose, along with the slotted hosel 1918 patent date.