Analysis of the transient stability of power systems following disturbances involves many sets of non-linear differential equations. This paper attempts to analyze the transient stability of multi-machine power systems by the step by step method, using the electronic digital computer. The critical switching times and phase angles for the main 154KV transmission system in Korea, are given from the swing curves of the probable conditions. It is concluded that the system is, in general, stable if the relay is cut off within 12 cycles after the fault. However the fault of DAEGU-SANGJU branch, accompanying much real power, makes the system unstable when the raly is cut off within 4 cycles after fault or automatic voltage regulators are equipped in this branch.