It has been regarded as axiomatic in present day theories of blood coagulation that the action of thrombin upon fibrinogen is a simple one, and that thrombin itself is a unit substance. Lyons (.1945a, b) and Laki and Mommaerts (1945) suggested a two-stage process in the clotting of fibrinogen. Lyons produced evidence that tibrinogen went thi-ough a well-defined intermediate stage which he called fibrinogen B, before it was finally converted to fibrin. Lyons eiul. (1948), (.1949) also showed that this intermediate stage, fibrinogen B, could be demonstrated in certain pathological plasmas. In healthy normal subjects the incidence of fibrinogen B is very low. One hundred and five football players were examined both before and after play. Of these two showed a positive fibrinogen B reaction before play and the same players and one other previously negative gave a positive reaction after play.Since the two forms of fibrinogen were so sharply defined, five possibilities were considered as to their significance in the thrombin fibrinogen reaction.1. That the formation of fibrinogen B is not connected with the action of thrombin.2. That the transformation of fibrinogen to fibrin by thrombin could be inhibited at the stage of fibrinogen B by an anti-thrombin.3. That the thrombin molecule contains two active groups. 4. That thrombin could be composed of at least two components, thrombin A and thrombin B.5. That thrombin A and thrombin B are by-products of the thrombin fibrinogen reaction.Examing these possibilities in the order cited: Number 1 was untenable, as a fibrinogen B is always formed as an intermediate stage in the normal conversion of fibrinogen to fibrin. Whenever the fibrinogen B test is performed after one half of the known clotting time has elapsed, a maximal amount of fibrinogen B is demonstrated. As no fibrinogen can be detected after the removal of the gel formed by the test, it appears that all the fibrinogen had been transformed to fibrinogen B.iWork done under a grant from the National Health and Medical Eesearch Council.