Much research is being directed towards the preparation of polymeric chains which are propagated because of the formation of metallic chelates, so that also synthetic resins derived from hydroxy and amino compounds have attracted the attention of many research workers because of their versatile use as ion exchangers, photographic binders, thermal stabilizers. This communication represents the chelation ion-exchange properties of 2, 4-dinitrophenyl hydrazone of 2-hydroxy acetophenone-o-hydroxy benzoic acid-formaldehyde resin.