The physiological stress of 200 ppm formalin treatments at 10 C is more severe in the juvenile steelhead trout (Salmo gairdneri) than in the spring chinook salmon (Oncorhynchus tshawytscha). In the steelhead, a marked hypochloremia follows a 1-hr treatment and recovery requires about 24 hr. During longer treatments, hypercholesterolemia together with reduced regulatory precision, hypercortisolemia, alkaline reserve depletion, and hypocapnia unaccompanied by a fall in blood pH occur — suggestive of compensated respiratory alkalosis. In the spring chinook, hypochloremia and reduced plasma cholesterol regulatory precision are the significant treatment side effects but recovery requires only a few hours.Formalin treatments also cause epithelial separation, hypertrophy, and necrosis in the gills of both fishes but again, consistent with the physiological dysfunctions, these are more severe in the steelhead.