Slime flux
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Slime flux is a bacterial disease of certain trees, primarily elm, cottonwood, poplar, boxelder, ash, aspen and fruitless mulberry and oak. A wound to the bark, caused by pruning, insects, poor branch angles and natural cracks and splits, causes sap to ooze from the wound, fill with bacteria, darken and stain the bark, eventually taking on a foamy appearance and unpleasant odor. This slimy ooze becomes toxic to the bark and eats into the tree. Additionally, the fermented sap attracts insects like flies, ants, worms & maggots, which further weaken the tree.
[edit] Treatment
There is no cure, but the bark of a tree is like skin. The wound should be disinfected with rubbing alcohol or a household bleach solution of one part bleach to nine parts water. The excess sap should be wiped from the tree to discourage insect's parasitic feeding. With prompt and continuous treatment, the tree should survive.