Two species of Valsa have been isolated more or less consistently from cankers of various ages, and from "die-back" twigs on the peach. In culture, one species, identified as Valsa leucostoma (Pers.) Fr., is hair-brown and has small dark pycnidia exuding cirri when mature. On the host, its stroma is compact in texture, contains no host cells and is delimited beneath by a black zone of carbonized fungal and host cells. Ascospores of V. leucostoma measure 10–17 by 2–4.5 μ. The other species, which has been assigned to V. cincta Fr., is whitish to olive buff in culture and has large light-colored pycnidia containing, though rarely exuding, spores. On the host, the stroma of V. cincta is comparatively loose in texture, contains host cells and is delimited from the cortex of the host by a thin, black zone, sometimes only marginal. Ascospores of V. cincta measure 14–28 by 4–7 μ. In both species, the pycnospores range from 5 to 10 μ in length and 1 to 2 μ in width. These organisms, along with Sclerotinia fructicola (Wint.) Rehm., were used in series of infection experiments at frequent intervals over a period of two years. Similar series of checks were also provided. Periodical observations and measurements furnished detailed case histories of all wounds concerned. V. cincta was found to be a virulent wound-parasite, able not only to infect freshly made wounds during the late autumn, winter and spring, but also to give rise to perennial cankers. Infection with this organism rarely occurred during June, July and August. V. leucostoma proved in these experiments to be almost, if not quite, incapable of initiating cankers on the peach. S. fructicola parasitized the tissues of branches and produced considerable necrosis during the first three weeks after inoculation during the growing season. Subsequently the lesions proceeded to heal. The degree of infection and the amount of resultant necrosis in wounds inoculated with S. fructicola during the dormant season were dependent upon the conditions of temperature and humidity then prevailing. S. fructicola, while capable of inducing lesions on the stem, cannot be regarded as the cause of typical peach canker. Some of the factors influencing infection by the three organisms mentioned above are briefly discussed.