The "spontaneous deterioration" of streptolysin has been studied by the methods already used in investigations of the oxidation-reduction of blood pigments and of the lysins of other bacteria. From the results of this study, it may be concluded that the commonly observed "spontaneous deterioration" of streptolysin consists in the conversion of the originally active lysin to a hemolytically inactive oxidation product. This process is a reversible one, and the activity of the lysin is restored by reduction.

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