A truncated form of the Kirkwood-Salsburg equation for the hard-sphere gas is solved. An exact algebraic recurrence relation is obtained for the coefficients of an expansion of the twoparticle correlation function in powers of the activity, z, in the neighborhood of z =0. The methods of series analysis and Pade approxim~rits allow this solution to be extended to all z~[-1, 11. 6048l. An equation of state is obtained which reproduces the first three virial coefficients exactly and shows a phase transition at z =11. 6048, which appears to be weakly second order. It is demonstrated that~nor modifications of the integral equation could substantially alter the~r1~&ytiC StruCture Of the SOlutiOn.