The results of five years of pressure measurements collected by a Bottom Pressure Recorder deployed within the summit caldera of Axial Seamount, on the central Juan de Fuca Ridge, are interpreted for monotonic offsets related to vertical seafloor movements. Results indicate five significant subsidence events during the observations period (3.7 years), or an average of 1.35 events per year. The displacements range from 3--10 cm with durations of 10--14 days. These results indicate an active volcanic system and can be viewed as positive evidence for future attempts at seafloor volcanic observatories and response to active events on oceanic ridge crests. Advanced instrumentation based on multiple sensors has been deployed at the site to reinforce the results of this pilot experiment. ¿ American Geophysical Union 1993