Surge phenomena in the zone of reduced speeds in a system of a nine-stage axial flow compressor coupled with ducts were studied analytically by use of a surge transient simulation code. Main results are as follows. (1) Expansion of apparently stable, non-surge working area of the pressure vs. flow field beyond the initial stage-stall line was predicted by the code in the lower speed region. The area proved analytically to be caused by significantly mismatched stage-working conditions, particularly with the front stages deep in the rotating stall branch of the characteristics, as was already known in situ and in steady-state calculations also. (2) Surge frequencies were found to increase for decreasing compressor speeds as far as the particular compressor system was concerned. (3) The tendency was found to be explained by a newly introduced volume-modified reduced surge frequency. It suggests that the surge frequency is related intimately with the process of emptying and filling of air into the delivery volume. (4) The upstream range of movement of the fluid mass having once passed through the compressor in surge was found to reduce toward the lower speeds, which could have caused additionally the increase in surge frequency. (5) The concept of the volume-modified reduced surge frequency was able to explain, though qualitatively at present, the behaviors of the area-pressure ratio parameter for the stall stagnation boundary proposed earlier by the author.