SUMMARYFactor I of the anthrax toxin was isolated and showed one major component in the ultracentrifuge and on paper electrophoresis; it contained less than 5.5% of extraneous antigens detectable by serological precipitation in gels. The final preparation contained all the usual amino acids (N = 10*1%) and some carbohydrate (6 yo, calculated as glucose) and phosphorus (0.7 yo). The most striking aspects of its analysis were a high ash (10-13y0) and a light absorption a t 260 mp. The high ash was not due to one element but to a highly variable metal content (mainly Ca, Mg, Ni, Cu) indicating a powerful and indiscriminate chelating action of factor I. This chelating action might have been due to the chemical entity which absorbed light a t 260 mp and which was not RNA or DNA.The final preparation of factor I was not toxic when injected alone but when mixed with purified factor I1 it evoked oedema in the skin of a rabbit and killed mice. However, the concentration of this mixture which killed mice formed a much larger skin reaction in rabbits than a comparable dose (based on mouse LD50) of either crude toxin or a mixture of crude factors I and 11. An investigation of this fact led to the demonstration and partial purification of a third factor (111) of the anthrax toxin which: (1) was different serologically from factors I and 11; (2) was present in anthrax toxin produced in vivo; (3) was non-toxic when injected alone; (4) was lethal for mice when mixed with factor I1 but not with factor I ; ( 5 ) increased the lethality of mixtures of factors I and I1 for mice and decreased their capacity to produce oedema in the skin of rabbits. A mixture of factors I, I1 and I11 showed synergic action in toxicity tests in mice; the mixture killed guinea pigs which showed signs of oligaemic secondary shock (as did guinea pigs killed by anthrax infection).