The ``generalized Schwarzschild'' metric discovered by Newman, Unti, and Tamburino, which is stationary and spherically symmetric, is investigated. We find that the orbit of a point under the group of time translations is a circle, rather than a line as in the Schwarzschild case. The time-like hypersurfaces r = const which are left invariant by the group of motions are topologically three-spheres S3, in contrast to the topology S2 × R (or S2 × S1) for the r = const surfaces in the Schwarzschild case. In the Schwarzschild case, the intersection of a spacelike surface t = const and an r = const surface is a sphere S2. If σ is any spacelike hypersurface in the generalized metric, then its (two-dimensional) intersection with an r = const surface is not any closed two-dimensional manifold, that is, the generalized metric admits no reasonable spacelike surfaces. Thus, even though all curvature invariants vanish as r → ∞, in fact Rμναβ = O(1/r3) as in the Schwarzschild case, this metric is not asymptotically flat in the sense that coordinates can be introduced for which gμν − ημν = O(1/r). An apparent singularity in the metric at small values of r, which appears to be similar to the spurious Schwarzschild singularity at r = 2m, has not been studied. If this singularity should again be spurious, then the ``generalized Schwarzschild'' space would represent a terminal phase in the evolution of an entirely nonsingular cosmological model which, in other phases, contains closed spacelike hypersurfaces but no matter.