The availability of iron dextran for hemoglobin formation has been studied in six young, healthy male volunteers made anemic and iron depleted by repeated phlebotomy. A quantity of 1 850 mg iron dextran was infused calculated to restore not only the Hb deficit but also the iron stores. The rate of Hb production from iron dextran was highest during the first week following infusion and found to be of the same order as in a control group in six males receiving iron orally. However, from the second week on, there was a significantly slower Hb regeneration in the iron dextran group than in controls, indicating a restricted delivery of iron from the iron dextran complex to the erythroid marrow. Three to five months after infusion five of the subjects receiving iron dextran were subjected to a new series of phlebotomy in order to quantitate the availability of iron dextran stores for Hb synthesis. When approximately 70% of the calculated iron dextran store of 1 050 mg had been mobilized, an iron deficient erythropoiesis had developed. In this state characteristic residual iron deposits in bone marrow smears could be demonstrated in all subjects.