Observations have been made upon the nature of early and late post-tetanic potentiation and upon post-tetanic block of presynaptic collaterals with particular reference to behavior in circumstances of varied duration and frequency of conditioning stimulation. Early potentiation is most conspicuous following brief tetani at high frequency, late potentiation following long tetani, much lower frequencies being all that are needed. The two phenomena thus are distinguishable and separate. Dorsal root electrotonus produced by stimulations of varying duration and frequency is described, and the similarity between behavior of the D.R.IV R. electronic potential and early potentiation demonstrated. It is shown how early potentiation and post-tetanic block are due to the same process (hyperpolarization) at different intensities. The view that the agency for potentiation is associated with augmented presynaptic action due to hyperpolarization is confirmed. A diagram is constructed to indicate the probable temporal courses of early and late potentiation.