NATION

Karsten Mahlmann, chief executive and managing partner of Stotler & Co., has been reelected as chairman of the Chicago Board of Trade. Patrick H. Arbor, vice president and director of Shatkin Trading Co., was reelected vice chairman.

Also elected to three-year terms as directors of the exchange were:

- John F. Benjamin, senior vice president, Drexel Burnham Lambert Inc.

- David P. Brennan, independent trader.

- John W. Meriwether, managing director, Salomon Bros.

- Irwin N. Smith, independent trader.

- Carl M. Zapffe, sole proprietor of Triple Nickle Trading Co.