Certain circulatory and respiratory values were measured in horses in the standing, lateral, and supine positions. Twelve adult horses were kept in the standing position under the influence of glycerol guiacolate. Alterations in position to lateral and dorsal recumbencies were achieved without any further drug administration. The changes from the standing to the lateral position decreased the arterial oxygen tension, but left the arterial carbon dioxide tension unchanged. There was no statistically significant effect of body position on respiratory flow rates or volumes. The shift from the lateral position to the supine position had no statistically significant effect on any of the measured values. It is assumed that the change from the standing to the lateral position results in an increase in ventilation of the uppermost parts of the lung. The perfusion inequalities are due mainly to the effect of gravity of the pulmonary circulation which may result in a decrease in arterial oxygen tension.