To determine seasonal and age-class variation in the abundance and survival of Atlantic salmon Salmo salar, we conducted multiple samplings of individually tagged juveniles in a small stream (West Brook, Massachusetts). We also estimated the differences in survival and probability of smolting for mature and immature parr. Survival was approximately twofold lower during winter as compared with summer and was higher for fish in their first winter than for fish in their second winter. Parr maturation rates were high (50% of all fish) and peaked in September. The estimated numbers of mature and immature fish were equal for the March samples preceding the smolt run, indicating no overall differences in survival between mature and immature fish during stream residence. Age-2 mature fish were one-third as likely to smolt as immature fish, however, resulting in survival probabilities (from March to smoltification) of 0.22 for mature fish and 0.61 for immature fish. Approximately one-third of the fish captured in the smolt trap were estimated as mature during previous sampling, and virtually all of the age-2 fish remaining in the stream following the smolt run were previously mature. We found no differences in gill Na⁺, K⁺ ATPase activity between previously mature smolts and immature smolts, but activity was significantly higher in March for fish that later smolted than for those that did not.