The frequently used pulse method of measuring ultrasonic wave velocities in solids involves a high‐frequency quartz crystal transducer cemented to one end of a specimen having parallel end faces. The phase shift for waves reflected from the transducer must be considered for highest accuracy. It is shown that combining several measurements of phase delay (at two frequencies differing by approximately 10%) with a theoretical analysis of the reflection phase angle makes possible a determination of velocity to within one part in 5000 for round trip delays greater than 5 μsec. Indirectly, the approximate thickness of the cement bond between transducer and specimen can be determined. The advantages of the method for making measurements as a function of temperature or pressure are discussed.