The properties of the giant axon of the squid Loligo pealii were studied at different hydrostatic pressures from 14.7 to 16,000 psi. At 4000 psi the resting potential, the membrane resistance, membrane capacity, the conduction velocity, the amplitude of the action potential, and the maximal change in the membrane impedance during activity were only slightly affected. At the same pressure the duration of the falling phase of the action potential was increased by about 40 to 60 per cent and the duration of the rising phase by about 20 to 35 per cent. The duration of the membrane impedance change during activity was increased by 50 to 100 per cent at 4000 psi. At pressures even slightly above atmospheric the threshold membrane current was appreciably reduced. At about 3000 to 7000 psi the fiber fired spontaneously. At pressures considerably above 5000 psi the membrane resistance decreased to about one-half to one-third the original value. The narcotizing effect upon the nerve fiber of 3 to 7 per cent ethanol was partly or almost completely opposed by low temperatures or high pressures.

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