1. Purified citrate-extracted ichthyocol obtained from carp swim bladders has been further characterized with respect to its content of certain amino acids and carbohydrate substances. 2. The degree of solubilization or dispersion of ichthyocol by solutions of certain salts maintained in the range of neutral pH and at a temperature of 0–2°C. has been determined. 3. While a number of salts of monovalent cations had no significant solubilizing effects on ichthyocol, ammonium chloride in a concentration of 1 M did cause solution of the protein. 4. Sodium thiosulfate in a range of concentrations caused the solubilization of ichthyocol but was most effective in an intermediate concentration of 0.25 M. 5. Several salts of divalent cations, in particular the chlorides of calcium, magnesium, and barium, and magnesium thiosulfate in concentrations ranging from 0.3 to 1 M caused the immediate and complete solubilization of the ichthyocol. 6. Solutions of ichthyocol in calcium chloride, magnesium chloride, and sodium thiosulfate buffered or adjusted to pH 7.0, were studied with respect to intrinsic viscosity of the protein, optical rotation, ultracentrifugal sedimentation, and reconstitution into fibers. It was found in each case that the original characteristics of the collagen, as determined previously in acid solution, were maintained when the protein was dissolved in salt solutions of neutral pH. No evidence of denaturation or gelatinization could be found when ichthyocol was solubilized under the stated conditions. 7. Collagen in neutral solution with sodium thiosulfate, calcium chloride, or magnesium chloride was not attacked by trypsin as determined viscometrically at 20.0°C., but was rapidly degraded by a purified bacterial collagenase.