The amorphous ferromagnetic alloy ${\mathrm{Fe}}_{75}$${\mathrm{P}}_{15}$${\mathrm{C}}_{10}$ has been found to respond reversibly to magnetic annealing treatments. The response has been studied (a) by measurements of the $\ensuremath{\Delta}E$ effect, which is unusually large, (b) by measurements of the magnetostriction, and (c) by torque curves which yield a value of 550 erg/${\mathrm{cm}}^{3}$ for the uniaxial anisotropy parameter ${K}_{u}$. Internal-friction measurements reveal that the alloy is also susceptible to stress-induced ordering, with an activation energy of 2.2 eV.