Two-color spatial carrier wave interferometry employing pulsed 532-and 671-nm lasers is used to measure the electron-density and heavy-particle-density profiles in the stagnation point of a stable, axially blown arc in argon for currents of 50 to 200 A and stagnation point pressures of 0.2 to 16 bar. This technique takes advantage of the fact that the free-electron contribution to the refractive index depends strongly on the wavelength, while that of the heavy particles does not. The high spatial resolution achieved allows the hot core of the arc to be readily distinguished from the surrounding boundary layer. A custom-built test device is used to ensure flow conditions that lead to a stable, axisymmetric arc; this permits the reconstruction of the density and temperature profiles using a single projection (interferometric image) of the refractive-index distribution through the arc (at two wavelengths). The arc radius determined from the heavy-particle density decreases with increasing stagnation pressure and increases with the current. These measurements are in good agreement with a simple axially blown arc model taking into account Ohmic heating, radiation losses, and enthalpy flow for core temperatures of approximately 16 500 K. The measured electron density at the center of the arc agrees well with a prediction based on local thermodynamic equilibrium.