2. The permeability sequence of the pulmonary epithelium for alkali metals was, Na+ > K+ > Rb+ > Li+ > Cs+ and that for halides I-Br-> C1-. Permeabilities to alkaline earths were lower than for the other ions, no definite sequence being established.3. There was an electrical potential difference of -1 to -10 mV (mean -4.3 mV) between lung liquid and plasma (lung liquid negative). Plasma/lung liquid chemical activity ratios were less than unity for the halides (Cl-, Br-, I-), and for K+ and Rb+, whereas the ratio of oneway fluxes (plasma --lung liquid)/(lung liquid -+ plasma) was in each case greater than unity. From the difference between the measured flux ratios and those predicted from the forces determining passive flux, it was concluded that the halides, K+ and Rb+ were actively transported from plasma to lung liquid, Cl-being quantitatively the most important. Na+ and Ca2+ appeared to move passively down a gradient of electrochemical potential.R. E. OLVER AND L. B. STRANG 4. When alveolar liquid [HCO ] was artificially raised, a net flux of HCO-from lung liquid against a gradient of electrochemical activity was observed, suggesting active transport of that ion out of lung liquid.5. The addition of KCN to lung liquid stopped the secretion of liquid and absorption took place.