Seismic velocity dispersionin fluid-saturated rocks appears to be dominated by tow mecahnisms: the large scale mechanism modeled by Biot, and the local flow or squirt mecahnism. The tow mechanisms can be distuinguished by the ratio of P-to S-wave dispersions, or more conbeniently, by the ratio of dynamic bulk to shear compliance dispersions derived from the wave velocities. Our formulation suggests that when local flow denominates, the dispersion of the shear compliance will be approximately 4/15 the dispersion of the compressibility. When the Biot mechanism dominates, the constant of proportionality is much smaller. Our examination of ultrasonic velocities from 40 sandstones and granites shows that most, but not all, of the samples were dominated by local flow dispersion, particularly at effective pressures below 40 MPa.