1. The bleeding is local. (Molisch 1898, 1930). A hole bored in the stem of a tapped tree yields no sap. A cut-off tapped inflorescence also shows phenomena of bleeding. 2. The bleeding is polar. A cut-off inflorescence only bleeds at the side turned away from the stem. 3. The juice flows from the vascular bundles. In Cocos it could be observed that the drops of juice form on the cut vascular bundles. 4. The bleeding tissue is localized in the vascular bundles. Starch either does not occur in the bleeding organ or only sporadically; sugar can only be demonstrated in the vascular bundles. 5. The xylem elements of the vascular bundles in the bleeding part are clogged. Moreover, in tapped branches, the clogging of the vessels in Cocos is also proved by the fact that through cut-off bleeding ends of branches no air can be blown. Through normal branches air can easily be blown. 6. Branches of a tapped inflorescence of Cocos were cut off and placed in a 1 % ferrocyanide solution. After some hours the presence of traces of the ferro-cyanide may be demonstrated in the juice with ferric chloride (Prussian blue). Slices cut from the bleeding cut surface and fixed in alcohol with addition of some ferric-chloride, show a deposit of Prussian blue in various elements of the phloem, (fig. 1). In course of time the other parts of the vascular bundle also begin to take on a faint colouring. The ferrocyanide therefore has entered the juice via the phloem. 7. Determinations of the concentration of the juice of Arenga showed a fairly constant concentration of the juice during the whole period of tapping. 8. In cut-off inflorescences of Arenga the quantity and the concentration of the juice decrease rapidly. 9. The sugar and the water are supplied from elsewhere. The dry solids of an inflorescence of Arenga are much less than the amount of sugar it produces. During the tapping the starch in the stem disappears. On the strength of theoretical considerations Frey (1929) expressed his opinion that the bleeding in palms should be based on the emptying of vessels closed in their lower part, by which water would be withdrawn from the surrounding tissue. This conception, however, cannot be brought into line with the fact that water and sugar are regularly conveyed to the bleeding part. In connection with the above the phloem appears to play a very important part in the bleeding and the facts observed may be entirely explained by the following assumption. The wound stimulus causes a local increase of permeability of the phloem, resulting in the exudation of sugarcontaining sap. The phloem, however, forms an entity with the other phloem elements of the tree; so there occurs a regular flow of sugar-containing juice, flowing toward the vascular bundles of the wounded part. Possibly the clogged xylem vessels prevent the sap from being sucked back. This assumption gives a plausible explanation of the polarity and the local occurrence of the bleeding and also of the constancy in the concentration of the sap. In the cut-off inflorescence the concentration of the sap will rapidly decrease as the connection with the rest of the phloem is interrupted: the bleeding will finally be stopped. At the same time the above assumption explains the possibility of a flow of great quantities of sugar-containing juice from the tapped parts. The reservematerials in the stem are mobilized, enter into the phloem and from there into the sap.