Clostridium botulinum type D toxin may be obtained directly from washed organisms. This toxin resembles the toxin of these organisms found in the culture filtrates. By the method employed the toxin of Cl. botulinum type D is obtainable in colloid (insoluble at pH 7) and soluble forms. The soluble toxin (exotoxin) may be split off the colloidal particle by the action of ultrasonic waves in presence of catalase. The colloidal toxin is probably the precursor of the soluble form. Additional evidence is offered for the hypothesis suggesting that so-called exotoxin of Cl. botulinum is a part of bacterial cytoplasm and is liberated when bacteria autolize.