Abstract
The following changes have been demonstrated to take place in the blood of dogs during exercise. 1. An increase in the per cent of cells and hemoglobin in the blood of the jugular vein occurs early in the course of exercise. It probably results from a redistribution of red corpuscles, with an increase in their proportion in the peripheral blood. 2. As exercise is continued, there is a definite increase in plasma volume. 3. A coincident decrease both in the total cell volume and the pigment volume during prolonged exercise suggests that blood destruction then occurs.