1. Two-year-old trout were grown in environments where the following factors were controlled: temperature, amount and intensity of illumination, rate of flow, composition and aeration of the water, quality and quantity of food and amount of living space.
2. The specific growth rate of an individual depended on its size relative to that of the others in the group. It is suggested that subgroups of four or five individuals existed within the size hierarchy and were reorganized at intervals of about 3 months.
3. There was an optimum degree of crowding for rapid growth, and overcrowding led to lower appetite and efficiency of utilization of food, while under-crowded trout ate and grew erratically.
4. In spite of constant environmental conditions, all the fish had an annual growth-rate cycle, with an autumn check, a spring maximum, rapid summer growth and another autumn check, which coincided with maturation of the gonads when they became 3 years old.
5. Individual specific growth rates fluctuated over periods of 4-6 weeks, and rapid growth in length alternated with rapid growth in weight. The specific rate of growth in length was directly proportional to the condition factor. The amount of food eaten, the efficiency of utilization of food and the specific rate of growth in weight varied with the condition factor and were maximal for a factor of about 1·10.
6. The growth-rate fluctuations were exaggerated and the efficiency was greater when the food supply was restricted. At the maintenance level the change in weight was directly proportional to the amount of food eaten. The maintenance requirement decreased, relatively, with increase in body weight.
7. The mean specific growth rate was higher with less than 12 hr. per diem of the standard illumination.