Several species of coexisting dragonfly larvae were studied for four consecutive years in a 1—ha old farm pond. Larval development, emergence patterns, and adult flight patterns showed that the most abundant species were univoltine and developed relatively synchronously (i.e., like a cohort). Three of the common species emerged in early spring, and the others emerged later in the summer. The common genera with the most similar microhabitat had a distinct temporal separation that may serve in reducing interspecific competition. However, coexisting congeneric species had almost identical life histories, supporting the hypothesis that ecological homologues can coexist because of "errors of exploitation" of the dominant species. The larval population dynamics of each dominant species (Ladona deplanata, Epitheca spp., and Celithemis fasciata) was characterized by a constant percentage numerical decline, coupled with a dramatic biomass increase from time of hatching to final instar. Larval mortality during this period averaged 92% per annum, but population biomass increased at least tenfold during the same period for each species. Comparison of larval estimates with emergence data revealed that at least 80% of the final instars die just before leaving the water to emerge. Life history variations among species smoothed out composite density and biomass trends which averaged about 1,000 individuals/m2and 2 g dry wt/m2, respectively. In general, population dynamics from year to year were quite consistent, indicating a relatively high degree of stability in terms of species composition and densities.