We have measured the cross section, the angular distribution, and the lambda polarization for the reaction *-p + AK'. A spark chamber spectrometer was used to collect 8400 AK' events at 14 beam momenta near EK threshold. Our data do not show the prominent cross section enhancement suggested by some previous experiments. However, detailed structure in the cross section and the angular distribution agrees well with a simple model which includes a cusp effect at EK threshold. NOTICE M AST ER This report was prepared as an account of work sponsored by the United States Government. Neither the United States nor the United States Atomic Energy Commission, nor any of their employees, nor any Of their contractors, subcontractors, or their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness. or usefulness of any information, apparatus, DISTRIBUTION OF THIS DOCUMENT IS UNLI • ED product or process disclosed, or represents that its use would not infringe privately owned rights. DISCLAIMER This report was prepared as an account of work sponsored by an agency of the United States Government.