The methods previously employed in the study of hemotoxins have been applied in the present investigation to the oxidation and reduction of the bacteriolytic substance of Pneumococcus. It is shown that the bacteriolytic agent, previously inactivated by oxidation, can be "reactivated" by treatment with bacterial reducing agents. Evidence is presented that this "reactivation" represents the reduction of inactive, reversible oxidation products to the original active substance.

The bacteriolytic agent is an integral constituent of the pneumococcus cell, which can be separated from the hemotoxin by absorption with red blood cells in the cold.

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