The new instrument for taking readings of the hematocrit value from a blood sample has two electrodes with which the conductivity of the sample may be measured. The sample contacting faces of the electrodes are placed in a horizontal plane with an accurately fixed spacing therebetween so that a blood column of a given size may be formed from the sample. The sample is acted upon by ac. From a reading representative of the change in impedance the hematocrit value may be read off from a calibration curve.