Great Expectations

Britain's Margaret, the world's most eligible princess, was giving her suitors--and the breathless watchers of royal romance--a breathless time. Just when London was momentarily expecting an announcement of her engagement to Walter Francis John ("Johnny") Montagu-Douglas-Scott, Earl of Dalkeith and heir to the Duke of Buccleuch, Margaret began to be squired about by young-man-about-town William ("Billy") Wallace, son of the late Captain Euan Wallace, M.P. and Minister of Transport in Neville Chamberlain's government.

As Margaret's escort at the Goodwood ball this year and companion during the Goodwood races, 26-year-old Billy Wallace could claim to be a close rival of Johnny's. Moreover, Billy represented the modern set, and was rated, according to one arbiter of London society, an "amusing, smart, gay companion with American connections" (after his father's death in 1941, his mother married American Journalist Herbert Agar). Gossips felt that Billy might appeal more to Margaret's volatile character than "quiet and friendly" Dalkeith, who is bored by nightclubs.

Londoners wondered how the royal family might take to Commoner Billy Wallace. Said one observer: "My dear, you can never rely on Margaret ... Oh, heavens, won't it be a relief when she makes up her mind!"

The week also brought news from Margaret's elder sister Elizabeth. Elderly, efficient Nurse Helen Rowe, who has probably attended more royal babies than any woman alive, moved into Clarence House Tuesday to be ready for the momentarily expected birth of Elizabeth's second child. Buckingham Palace put the date at between August 10 and 14.

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