The ultrastructure of xylem ray cells inPopulus was studied in conjunction with their content of individual sugars and of starch. They differ considerably in structure and in carbohydrate content at the three chosen stages,i.e., of starch deposition (August), of starch maximum (November), and of starch dissolution (January). The transition from the summer to winter stage was also induced experimentally by storage of tissue at 0°C. Both in nature and after cold-storage, sucrose and its galactosides raffinose and stachyose were accumulated to a great extent, contributing up to 69.7 and 57.3% of total sugar content, respectively. They originated parallel to the breakdown of starch and to the appearance of abundant vesicular and dilated ER cisternae. Results indicating that they are the specific sites of sucrose accumulation, and/or its galactosides, are discussed. The occurrence of phytoferritin-like crystalloids in amyloplasts and of vacuolar flocculent material, which condenses into electron-dense bodies of suspectedly proteinaceous nature, is described.