Citation
Alchemical forms of thought in book I of Spenser's Faerie queene

Material Information

Title:
Alchemical forms of thought in book I of Spenser's Faerie queene
Creator:
Rockwood, Robert John Remington, 1938-
Publication Date:
Language:
English
Physical Description:
x, 329 leaves. : ; 28 cm.

Subjects

Subjects / Keywords:
Alchemy ( jstor )
Death ( jstor )
Ego ( jstor )
Fountains ( jstor )
Hermeticism ( jstor )
Jungian psychology ( jstor )
Poetry ( jstor )
Soul ( jstor )
Symbolism ( jstor )
Unconscious mind ( jstor )
Magic in literature ( lcsh )

Notes

Thesis:
Thesis--University of Florida.
Bibliography:
Bibliography: leaves 318-327.
General Note:
Typescript.
General Note:
Vita.
Statement of Responsibility:
By Robert John Remington Rockwood.

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
Copyright [name of dissertation author]. Permission granted to the University of Florida to digitize, archive and distribute this item for non-profit research and educational purposes. Any reuse of this item in excess of fair use or other copyright exemptions requires permission of the copyright holder.
Resource Identifier:
000577533 ( ALEPH )
ADA5228 ( NOTIS )
13987392 ( OCLC )

Downloads

This item has the following downloads:


Full Text












ALCHEMICAL FORMS
SPENSER


THOUGHT IN BOOK
FAERIE QUEENE


I OF


ROBERT


JOHN


REMINGTON


ROCKWOOD


A DISSERTATION PRESENTED TO THE GRADUATE
THE UNIVERSITY OF FLORIDA IN PART
FULFILLMENT OF THE REQUIREMENTS FOR THE
DOCTOR OF PHILOSOPHY


COUNCIL
IAL


DEGREE


OF

OF


TTMTVTf7TTV f W


TITDTTfl























































Copyright


Robert


John


Remington
1972


Rockwood















ACKNOWLEDGMENTS


First


of all


I want


to express


my appreciation


those


professors without whose


influence


this


dissertation


could


never


have been


conceived:


William L.


Halstead,


Pro-


fessor


Emeritus


of English


University


of Miami,


whose


undergraduate


course


was


first


introduced


to The


Faerie Queene;


Jack A.


Reynolds,


Professor


of English


and Medieval


introduction


Languages


University


philogy


pursue


of Miami,


subject


whose


through


eleven


languages and Medieval


dialects,


wi th


the


result


that


learned


discern


patterns,


and


to be


undaunted by


labels ;


Gordon E.


Bigelow,


Pro essor


of English


University


of Florida,


whose


graau:; te


seminarr


introduced


psychological


study


of myth,


particularly


writings


of C.


Jung,


wh ich


turn


sparked


int ere st


the


psycho logical


implications


esoteric


systems,


par-


ticularly


Medieval


William J.


and


Roscelli,


Renaissance


now


alchemy;


Professor


and,


of English


finally,

at Northern








tools


to The


Faerie


Queene,


and


whose


gracious


understand-


ing

idea


and interest

from a short


the


term


topic

paper


encouraged


me to expand


present


the


proportions.


very


special


thanks


must


to the


chairman


doctoral


committee,


Robert


Bryan.


Even


though,


Vice


President


Academic


Affairs,


one


busi-


est


men


University


Florida,


was


always


immedi-


ately


accessible


and


ready


to provide


discerning


advice


and


encouragement.


enthusiastic


sponsorship


this


project


has


made


itself


felt


in many


ways;


but


his


zeal


obtaining


funds


to build


the


University


of Florida


s microfilm


collection


alchemica 1


pursue


this


literature


research.


I also


what


made


want


possible


thank


Gordon


Bigelow


and


. Melvin


Valk


serving


second


and


third


members


committee.


would


like


to commend


staff


University


Florida


Research


Library


their


skill


obtaining


the


obscure


books


and


microfilms


which


were


so essential


this


study.


thanks


also


to Dr. Dewey


Faulkner


at Yale


University,


who


went


to considerable


trouble


to have


some


rare


books


microfilmed


and


typist,


Mrs.


Nancy


McDavii d.


wh nsF


nma i^ nr'p


has


hs~n


pyfrlpnri rll: 1 -


hnrt


n ni-


Tast















PREFACE


was


in pursuance


an interest


which


time


seemed


totally


unrelated


to S


penser


s poem,


The


Faerie


Queene,


that


happened


to be


looking


through


a microfilm


the


"Rosarium


Philo


sophorum,


an important


alchemic


trea-


tise


whi


is contain


d in


Artis


Aurif


erae


, a compilation


first


public


shed


in 1550


-170


Vol.


II of


1610


edition


was


stru


ck by


following:


Fac de
extrahe


masculo


foemina


quadrangulum,


circ


ulum


quadrangulo


rotundum,


& de


triangulum:


circ


ulum


rotundum


habebis


lapidem


Philo


sophorum.


Thi


s statement,


expressed


terms


symbolism


circle


, square,


and


triangle


, is


a description


Philo-


sopher


Stone.


had


feeling


that


had


seen


be-


fore--but


where


Then


it dawned


on me:


was


"arith-


metical


stanza"


Book


Il of


The Faeri


Queene!


The


And


frame


part


Those


thereof


seemed


triangulare
the first


partly
0 work


and


circulare,
diuine:


ast porportions


are,


The


one


Th'other


imperf


ect,


mortall,


immortal,


ect


foeminine;
, masculine


And


twixt


them


both


a quadra


was


base


Proportioned


Nine


was


equally
circle


seen


set


in h


and


eauens


nine


place


All


which


compac


made


a goodly


diapase


* r -









lock


allegory


Faerie


Queene?


This


dissertation


answer


that


question.


Concerning


canto


summaries


and


extended


quotations


from


The


Faeri


Queene,


a word


of explanation


order.


This


a difficult


poem:


have


sought


to provide


reader


with


sufficient


connected


text


to permit


him


ex-


perience


a context


poem


larger


on its


than


own


that


terms,


as well


supplied


to provide


short,


unconnec-


ted


passages


quoted


commentary.


This


intended


strictly


as a convenience


reader.


In itself,


commentary


is complete


and


adequate.


All


citations


are


from


The


Works


Edmund


Spenser


A Variorum


Edition,


Edwin


Greenlaw


et al.


(Baltimore,


1958),


Vol.
















TABLE


OF CONTENTS


Page


ACKNOWLEDGMENTS


PREFACE


ABSTRACT


Viii.


PART


CHAPTER


CRITICAL


INTRODUCTION


a a a a a 2


NOTES


S . 18


ESOTERIC


ALCHEMY


SUBJECTIVE


PSYCHOTHERAPY


NOTES


SPENSER


AND


THE


ESOTERIC


TRADITION.


NOTES


PART


AN ALCHEMICAL


INTERPRETATION


OF THE


FAERIE


QUEENE


a a a a a a 97


NOTES


CONCLUSION.


N(YPFI -


- -. jun








Abstract


the


of Dissertation


University


Presented


of Florida


Graduate


in Partial


Council


Fulfillment


the


Requirements


the


Degree


Doctor


of Philosophy


ALCHEMICAL


FORMS


OF THOUGHT


IN BOOK


SPENSER


S FAERIE


QUEENE


Robert


John


Remington


Rockwood


December,


1972


Chairman:


Major


Robert


Department:


.. Bryan
English


Recent


trends


in scholarship


provide


justification


regarding


The


Faerie


Queene


an esoteric


"magical"


poem,


requiring


"specifically


Renaissance


understanding


mysteries.


Hermetic


This


mysteries,


dissertation


especially


demonstrates


Renaissance


that


esoteric


alchemy,


provide


organic


zing


principle


Book


l of


Fae


Queene.


Esoteric


symbolic


alchemy


was


procedure


a spiritual


which


"base


discipline,


metal,


a mystical


" i.e.


natural


man


raw


material


provide


ed by


Nature)


can


transmuted


into


"philosophical


gold,


i.e.


true


gentleman.


those


able


to understand


the


arcane


symbolism


pro-


vided


a psychological


vocabulary


less


precise


than


that


modern


depth


psychology


set


forth


writings


Jung.


After


examining


esoteric


tradition


within








Spenser


and


his


circle


of friends


and


associates,


a sy


tematic


alchemical


interpretation


(with


a corre


spending


psychological


analysis


of Book


I of


The


Faerie


Queene


presented.


Alchemical


theory


is concerned


with


what


we would


describe


separ


action


and


synthesis


psychic


oppo-


sites.


Thus


Book


initial


opp


osites


are


Red


crosse


alchemical


Sol,


symbolizing


the


mas


culine


conscious,


and


Una,


alchemical


Luna,


symbolizing


feminine


uncon-


SC1OUS


mal


psyche.


entire


unconscious


(per-


sonal


and


collective)


symbolized


hermaphroditic


Mercurius,


who


can


separated


into


opposites


and


analy


according


alchemical


axiom


of Maria


Propheti


ssa


(Una)


becomes


two


(Duessa);


two


becomes


three


(Archi-


mago);


and


out


the


third


comes


one


fourth


(Arthur).


Una


and


Duessa


are


respectively


light


and


the


dark


feminine


aspects


of Mercurius,


Arthur


and


Archimago


the


light


dark


masculine


aspects.


Following


"spiritual


est"


or my


sterium


coniunctionis


(Redcro


sse


and


Luna


essa


comes


synth


esis


(appear-


ance


Arthur)


and


final


consolidation


(House


Holiness


and


betrothal


to Una).


The


opus


alchymicum


pro-


esses


from


the


defeat


wing


ess


, chthonic,


feminine,


phy


dragon


(Canto


viL


tory


over


opposite,


.I-1~a V.-. t. -a -~ a n a 1 a -j -~ I t, a


. ~.'/. .--


vrT%


st,


,1


r.r


rw,


rrl







Thus


this


study


seeks


to demonstrate


that


critical


problems


which


have


beset


The


Faeri


Queene


over


.350


years


are


the


result


of a mi


sunder


standing


organizing


principle


poem.


It shows


that


Book


refl


ects


chemical


forms


thought


and


maintains


that


esoteric


chemy


provides


a key


that


unlocks


allegory.


demonstrating


that


eso


teric


alchemy


served


a psycho-


therapeutic


disci


pline,


this


study


shows


how


a work


like


The


Faeri


eene


could


actually


used


to effect


the


psychological


transformation


"clownishe


young


man"


into


a perfected


Saint


George


England.























PART I















CHAPTER


CRITICAL


INTRODUCTION


It is


not


without


gnificance


that


after


nearly


four


centuries


Spenserian


scholarship,


a recent


critic,


Rosemary


Freeman,


should


following


que


stion:


What


was


substance


impul


which


form,


rec


gave
ognis


The
abl


Faeri


at all


Queene
stages


poem


of inte
during?


but


rpretation
1


Freeman


did


respon


upon


not


sible
which


find


problems


criticism


an answer,


keeps


but


foun-


to her


credit t


that


recognized


that


there


a unifying


impulse.


Kathleen


Williams


points


out


that


Spenser


used


to be


re-


garded


once


much


and


little


an arti


over-elaborate


in descriptive


detail


but


artl


ess


in cre-


ation.


From


War ton,


one


the


ear


commentators,


who


catalogued


what


considered


faults


and


inconsi


sten-


cies


reasons


the

for


poem,

the s


to Josephine


,o-called


Waters


inconsis


Bennett,


tencies


who


showing


finds

that


Spenser


"plans


changed"


while


was


writing


the


poem,


critical


approach


been


at 1


east


implicitly


nega-


tive.


The


mounting


impatience


with


traditional


readings


... -- ,


a- i


n


ri


* I


-m


1^_









meaningless.


approach,


Influenced


Hamilton


Northrop


attempted


Frye


s archetypal


to establish


an en-


tirely


new


basi


interpretation:


own


Queene


approach
involves


a simple


allegory o
e vet radi


The


Faerie


re-


orientation.


image


hidden
[Spens


this


itse


behind


study


rather
image.


labours


conc


reve


revea


than
.. I
al hi


shall
seek t
assume


focus


upon


idea


that


meaning,


not


as clearly


matter


Further,


rather


form


what


than


is to focus
depth.7


egory


labours


moral
upon


eas


lite


will


ress


y approach
level in i


allow.


an image
then,


treating


The


Faeri


Queene


though


were


no more


than


a folk


or myth,


Hamilton


does


not,


course,


pro-


vide


a complete


account


of Spenser


s poem;


but


emphasizing


previously


over


looked


autonomous,


arc


hetypal


aspec


he does


lend


strong


credence


idea


that


"the


fault


not


poem


but


in course


lves


in our


reading,


significant


step


forward


very


least


Hamilton


"radical


re-orientation"


offers


eloquent


testimony


extraordinary


depths


despair


into


which


Spenserian


crit-


icism


had


fallen


beginning


1960


Characters


new


attitude


toward


poem


William


Nel


son


advi


that


reader


hav


"faith


book


itself


and


guiding


signs


within


it":


faith


the book


mean


a disposition


to be


lieve


that
- -.


whatever


the his


tory


composition


-1


may


-~~~~~~ ~ ~~~~~~ -r .2 -.h. --- ---- -- ..


A


L,,, Lt


J


L, h..


- i


L









but,


like


Spenser


s other


poems,


a carefully


considered


than


And


that
both


fable


faith


Spen


ser


text


composition


in which


central


its signs, I
announcements


itself


and


theme,


structural


mean


his
the


rather
element.


belief


intention,
letter ad-'


to Sir


to the fir


Walter


st edition,


Ralegh


are


which


designed


was
to


appended
give


"gre
lead


ese


at light


him.


to the Reader"


It would


affirmations


of interpreters
by denying them.


hardly


were
The


rather


neces


than
sary


not


Faerie


Queene


mis-


to make
number


who


begin


Apparently


the


first


time


critics


have


begun


take


Spenser


at his


word.


Indeed,


he himself


fully


anticipated


problems


interpretation


that


have


beset


poem.


The


proem


to Book


is quite


specific:


Right


well


wote


mighty


Soueraine,


That al
Of some


this


famous


th'aboundance


antique history,
of an idle braine


Will


iudged


painted


forgery,


Rather


than


matter


lust


memory,


Sith


none,


that


breatheth


living


aire,


does


know,


ere


Which


But


vouch


that happy
so much do


antiquities


land
vaunt,


, which


of Faery,
vet no where


no body


can


show,
know.


(II,


Proem,


Spenser


advises


reader


look


certaine


signes":


Faerie


lond


more


inquire,


certain


signes


ere


set


in sundry


place


may


it find ;


let him


then admire,


But


That


yield
note


sence


without


to be


an hound


blunt


fine


and


footing


bace


trace.


(II,


Proem,


But


task


facing


reader


Spenser


a dif-


I; rlii 4


nfl


a r ~rr


3, Sc


hora


esse


r~


nt ~r~lt


or


rrr


O


I r


1n









Spenser

or darke


says


in his


conceit,


letter


" and


to Raleigh, a


"clowdily


enwrappe


"continued Allegory,

ed in Allegorical


deuises,


" is


that


The


Faerie Queene


an elitist


poem not


intended


the


uninitiated.


This


idea


is borne out by


following


lines


from


dedicatory


sonnet


to Lord


Burleigh:


Vnfitly


thes


ydle


rimes


present,


The
Yet
And


Their


Perhaps


labor


their


lost


deeper


dim vele,


fairer


not


parts
vaine


time,


wit


sence


with
are


which


hid


ey may


vns


tayd:


inly wayd,
from comune


aside
appear


vew


layd,
you.


(11.


7-12)


Lately we

in Spenser


have witnessed

ian scholarship


one


since


the most


important


Variorum.


events


refer


publication of


Kent


HiIeatt's


discovery


tricate


numerological


symbolism


Epi thalamion.


The


shock


occasioned by


this


revelation


was


sufficient


sug-


gest


at least


some


scholars


that.


the other


Spenserian


p~o ers


were


probably


also


concea


ling


complex and


unsuspected


symbolism.


Most recently


all,


scholars


have


begun


an extensive


reexamination of


purpose


function of


Renaissance


allegory


stand


generally.


the operation


Murrin


allegorical


pointed


rhetoric


out


such


tha t


as one


under-


finds


The


Faerie Queene,


necessary


to have


knowledge of









are


explored


Don


Cameron


Allen


in Mysteriously


Meant:


The


Rediscovery


of Pagan


Symbolism


Allegorical


Interpretation


Renaissancel4;


and


Angus


Fletcher


The


Prophetic


Moment


An E


ssay


on Spenser.


Frances


Yates


' investiga-


tions


Renaissance


Hermetism


and


conce


"mind


speech"


"artificial


memory"16


have


made


it possible


for


see


that


even


Spenser


s insi


stence


that


poem


not


"painted


forgery,


" but


"matter


lust


memory,


" carri


ecise


spec


ific


meaning


the


context


"Renai


ssance


ers


"mind


standing


speech"


what


mys


series


we would


In other


term


words


hermetic


language


un-


conscious,


expressed


dreams


"active


imagination"17


personal


level,


myth


and


folklore


collective


evel,


and,


an originally


autonomous


product


the


psyche,


does


sometimes


involve


"spontaneous


statements


the


that


unconscious


since


about


prophetic


itself.


poet


s obvious,


is working


however,


context


mystery


tradition


which


provides


him


with


a ready-made


sym-


bolic


vocabulary,


as well


, presumably,


unders


standing


series


" hi


poetry


should


not


be regarded


nai


creation.


In order


to communicate


suprarational,


poet


consciously


makes


use


of natural


or organic


symbols


tuations--i


.e.


those


discovered


unconscious


rather


than


consciously


invented--


and


thus


to make










say,


therefore,


that


aspects


a poem in


pro-


phetic mode


cannot be


attributed


conscious


invention


alone.


Since


unconscious


cannot


lie,


poet,


con-


sciously


using


language


unconscious,


will make


poem serve


a vehicle of


"divine


truth.


The


allegory


a work


like


The


Faerie


Queene,


which


based on


"insight


symbolism"


rather


than


"symbolism of


arbitrary-association


type"


which,


Helen Flanders


Dunbar


pointed


out


some


years


ago,


is what


allegory


today


tradi-


tionally


understood


to be,


a prime


example


of what


Renaissance would


have


regarded


as magic.


This


clear


from


the work


scholars


such


Walker,


Charles


Nauert,


Jr.,


and


especi


ally


Eugenio Garin,


who


have


examined


psychological


aspects


Renaissance magic.


In--


deed,


because of


unconscious,


occult


affects


were


i.e.


"hidden")


considCred


nature


preeminently


"magical.


Spenser


s "ruatter


eternal


lust


drama


that


memory"


takes


therefore


ace


a reenactment


psyche


realm of


non-ego


I C-


part


symbolism associated


with


"process


individual ion.


Spenser


s Fairyland


as Mr.


Fletcher


points


out


in Allegory:


The


Theory


Symbolic Mode,


"spirit


world"


where


are


engaged


"fated


actions"


which


are


characterized by


"real


lack


freedom.


" 26


This


~~th;


1 "a


events


and


nba r ran~ T Sr


LCI ;IC) Y


I _


.









Recent criticism has


that


increasingly


the only way The Faerie Queene makes


accepted


sense


fact


is psycho-


logically.


cular


"Influences"


archetype will


will


determine what form a


take when constellated,


but


parti-

the work


is prophetic,


it is


psyche


itself,


an autonomous


agent,


which will


establish


the


fundamental


relationships.


John ErskineHankins points


out


that


these days of psycho-


logical


study...


are


perhaps better


fitted


understand


The Faerie Queene


than were


the people of


any


other period


since


Spenser wrote


Pauline Parker


has observed


that


"the whole


action of


books


and all


land


of faerie


with its


forests,


castle


and


seashores,


exist in Arthur's


soul,


and


there only.


Fletcher,


in his


brilliant dis-


cussion of


psychological


allegory,


analyzes


process


thus:


A systematically
a large number o


complicated


character will


f other protagonists,


who


generate


react


against or with him in


a syllogistic manner.


"generate"


Spenser
them.


because


and Bunyan


They


are


seem


those


the heros
to create


people


in Dante and
the worlds


in real


about


life who


"project,


those


" ascribing


they meet and


fictitious
live with.


personalities
By analyzing


the


projections,


we determine what


is going


on in


mind
same


the highly


token,


imaginative


the reader wants


projector.
a sketch


character


Redcrosse


in Spenser,


lists


series


adventures


and


tests


undergone by


Redcros


not


so much


for the


pleasure of


seeing


how


Redcrosse


reacts


in each


case,


see


literally


what


aspects


hero


have been displaced by


the poet.
brothers;


Redcrosse
Sir Guyon


imagines


Sans


Foy


and his


imagines Mammon and his


cave;


-I. n w -*


-nl, *l~ ,~ Yflfl flfl.


L'lr


*I


II~ n nrn ~m~n Innn








Psychological


allegory


therefore


an autonomous


product


nature


par


excellence,


language


the


dream

have


world,

remarked


the realm

that The


non-ego.


Faeri


Queene


Many


has


commentators


a dream-like


quality


Graham


Hough


points


out


that


thi


s is


what


accounts


fact


that


a reader


can


enjoy


poem


with-


out


actually


under


standing


...the


organic


ramifications
encountering


zation


hard


poem


[the


poem]


follow.
is one


Yet


is puzz


our


ling,
eling


familiarity.


the


These


stories


that


interrupted


go
and


begin


and


on in an order


space--


they


inexplicably,


resumed,


fade


apparently


only


sturb


into


not
each


emancipated


a reader


end,
other


from


are
and


time


s satisfac-


tion,


iI


outside


Church's


them


actual


undisturbed


we have


exp


and
met


phrase


subject
erience


quite
such


when


them


at horn


begins


to external


reading
e. This


experiences


to stand
criticism.


feels


is b


quite


because


before--in


dreams.


The


of a


organization
31


U'.


teall.


The


Faerie


Queene


like


that


From


this


insight


everything


else


follows.


If it


true


that


The Faerie


Queene


is organized


like


a dream


(and


think


stand


then


structure


this


we have


to under


and


stand


dynamics


no choice


poem


the


but


we must


unconscious


turn


to depth


under-


mind;


psycho-


logy.


Pauline


Parker


right


track


when


she


ob-


serves


Depth


psychology


poe


seems
and b


conce


rute


mind
rned


strength


0 1i fl lhll lr


might be
illustrate


give a
rather


intere


sted


combat.


n impression


than
mI^ n,


skill,
nrnna^ Tj


in examining
Though he


of
his


violence
imagery


''C. frl1 4-


, mnar r el n


Irn~


C:


r










fighting,


bill...
group co
contests


falcon


these
ncerns


are


swooping
frequent


itself


winds


to death


comparisons


with elemental
waters.32


on a heron


second
, the


forces


What


Miss


Parker


describes


as an


"impersonal"


struggle,


, in effect,


process


which


the


personality


achi


eves


individuation,


a pro


cess


that


goes


on in


the


unr-


conscious,


symbolically


represents


spiritual


growth


the


individual.


Hough


is quite


accurate


when


states


that


can


compare


The


Faeri


Queene


a page


medi


eval


illumination,


which


exhibits


a harmonious


texture,


bright


and


delicate


detail


everywhere,


many


individual


mini


atures


which


mus


t be


looked


at separately--but


very


striking


general


sign.


It i


exactly


these


terms


that


individuation


process


has


been


described:


...our
which


dream


life


individual


creates
strands


a meandering
or tendencies


pattern
become


sibl


then


vanish,


then


return


again.


one


watches


time,


this


one


meand


can


ering


serve


design
a sort


over


a long
hidden


period
regulating


or dire


imp
of


erce


acting
ptible


tendency
process


individuation.


at work,


of psychic


creating


growth-


a slow,


-the


process


36*


In order


avoid


committing


what


appears


to be


obvious


critical


error


of applying


twentieth-century


psycho-


logy


to a si


xteenth-century


poem,


some


scholars


have


tried


to account


Spenser


accurate


depiction


subtle


and


sophis


ticated


psychological


relationships


examining


--1- -I-


IIn'I" -1. i.


.1' i' _'II


t ,,


11


1^. -









The


journey


Redcrosse knight,


considered


solely


anything


from


this


that


sixteenth-century


as has


been said,


developmental


point of view,
be discovered
"psychological


has


or dynamic


attained no


aspects


far transcends
in contemporary


writing,
insight


which,


into


the mind.


the
The


eas
of


e


and consistency with which many of


the Faerie Queene can be described


events


terms of


present-day psychologies


indicate a minute aware-


ness


on Spenser's


part of


the


interaction between


thought


feeling,


literature


which no


amount


"faculties


study
soul"


of
could


have imparted


to him.


The


problem seems


to be


that


the concept of


"Elizabethan


psychology"


which


scholars


such


as Ruth L.


Anderson have


tried

Turner


apply


Forest h


to Shakespeare's

as pointed out,


plays,

"rather


as Louise C.


the creation of


our


own minds


than


a resurrection


a sixteenth-century


reality.


Obviously what


is to produce
psychological
that seem to


sustain
the rest
are thus


the modern


a latter-day


lore by putting


fit,


choosing


they


structure


Their


systems


constructions,


expositors


synthesis


have done


of Elizabethan


together passages


only those


erect,


that will


and discarding


of Elizabethan
not discoveries.


pychology


Lawrence Babb,


in his


survey


of Elizabethan


psychological


literature,


observed


that


these works do


have one


simi-


larity:


they


are


"scholarly


treatises written


for


ethical


purpose.


Thus one of


source


studies


that


contributes


a better understanding


allegory


Spenser's


poem


finds


influence not among


the obvious


"psychological"


treatises--such


those of


Rogers,


Wright,


Walkington,


Charron,


Coeffeteau,


Burton,


Reynolds, Bright,









In several


discussions


Elizabethan


psycho-


logy


there


, however,


passing


mention


perhaps


one


source


of consistent


psy


chological


theory:


the


bri


Middle


doctrines


Their


ef handbooks


Ages


one


of Plato


compilers


were


can


and
fin


Ari


philo


epitomes
d the Ds


stotle
sophers


A.


inherited
ychological


neatly
rather


stem


than


from


ized.
sci-


entific


servers


were


content


to di


regard


differ


ences


opinion


in the interests


uniformity.


If a single


Eli


zabethan


psyc


hology


sought a
in these


a consistent


medi


eval


entity,


handbooks


and


can


epitomes


found
42


only


Mrs.


Forest


is even


more


specific:


Hippo


crates


, Plato,


Aris


total


, Ficino,


Plutarch,


eneca,


and


their


Averroes


Parace


sus


writings


, Aquinas
frequently
s though


Hermes
jostle


they


Avi


one


were


cenna,


Galen


another


one


mind.


The


few


more


self


-consistent writ


ers


are


so,usually,


simply
system,
or the


because
as do


Neo


some


-Platoni


y Keep
of at
sts.


more


exc


Hermetical


sively


phys


one


icians,


Since


Hermetic


philosophers


were


Neo


-Platoni


sts,


st i


Hermeticism,


ess


Maurice


diverse


Evans


than


seems.


suggests


Concerning


that


"interesting


and


no means


irrelevant


to speculate


" whether


penser


may


have


been


influenced


is conce


ivabl


that


with


immense


powers


syncretising


thing
cosm


else


of his


drew


upon


a necess


poem.


Some


ary


asp


Hermeticism


part


ects


s upon
total


of Hermeti


cism


every
micro-


cer-


tainly


tran


scend


religious


Renaissance


final


source


the di
sects.


to him,
scords


was


religion,


from


whi


in particular


jarring
the most


since


ch all


religion


syncretic


it claimed
subsequent


claim
s and


form


to be


orig-


religions


sprang,


pagan


or Chri


stian


alike,


and


The


Fae


-- I


---










influences


granted.


...the


Hermetic


style


of prophecy


sums


influence of


prophetic


tendencies within


epic....the


vides


sity
the


Hermetic


a measure of


Only


mode of


style


by wanting


poet achieve


through his
achieves in


truly


absolute


a manner


thought


visionary


go beyond meaning


1.;e


control
we may


vision,


of number,


loosely


pro-


inten-


can


which,


Spenser
Hermetic.


call


Miss


Yates


observed


that


word


"Hermetic "


may


serve


a generic


term


kinds


of occult


practices,


can be


used more


particularly


alchemy,


usually


thought


Hermetic


science


par excellence.


It is


hardly


surprising,


therefore,


that


astute


a critic


as Northrop


Frye,


a brief


discussion


Book


The


Faeri


Queene,


should


see


a parallel


with


alchemy:


The


risen


body,


white
flesh


s~lrrI
syn


olize
blood,


aspects


bread


and


wine,


and


Spenser


union


they


of red a
church.


sexual


indicated


have


historical


white


The


roses


link between


aspects


connection


with


reigning


sac


and white


in alchemy,


wi b


whi ch


head


ramental
symbolism


nser was


clearly ac
production


union


quainted,


of
of


the
the


in sihic


elixir of


a crucial


immor


with


tality


the whit


phase
is k


known


Queen.


particularly


sigxii-'icii1


that


alchemy,


Rudolf


Bernoulli


religions


a consistent


pointed


out,


Hermetic


psychological


"continuation


science,


the mystery


provides


approach


poem.


basis

It also


brings


us back


to Mr.


NMurrin s


contention


that


an under-


n3 1 C an t Vr


rm'i _


t~1-nnA nn ri La nr n C-l Cl VN n'1C f ,n r 'C %,'t~nn


-s^ /


n


.*


r~3n~; nn nF


Il,' A sll Il r~ h n R ir


nr n


T- n r









Spenserian


scholarship


tendency


some


critics


deny


validity


these


relationships


even


when


their


good


judgment


recogni


zes


that


patterns


exist.


A typical


example


. F.


Kermode


s comparison


Book


I of


The


Faerie


Queene


with


Lawrence


s Lady


Chatterl


s Lover,


which


which


say


also


"the


comments


only


upon


modern


the


state


work


fiction


nation


known


terms


Apocalypse.


Since


Lawrence


was


deeply


inte


res


occult


Hermetic


interpretations


Scripture,


comparison


with


Spenser


very


apt.


Though


can


shown


that


Spenser


and


Lawrence


make


similar


use


calyptic


images

"revea


lingly


Kermode contends

different way"


that

from


Lawrence

Spenser.


uses


them


Because


in a

. Kermode


brings


ether


some


valuable


information,


shall


quote


length:


[Lawrence


eve


the early


1920


, a new


inter


est


In 1924


wrote


oCC


ult


some


meaning
articles


of Reve


lation....


about


spec
The
such


inter


Plumed S
matters


est i
rpent


n apoc


alyptic


26).


symbolism


was


the relation


much


colours


taken


the zodiac


with


the


Great


Year,


in the Sky,


and


heav


which


enly


a plan


macrocosm,


etary


version


Man
the


seven


seal


consciousness


or sequence


of ganglia....


early as 192
sympathetic


responding
stands for


st and


was


ganglia


voluntary


saying


and


ganglia


secret


last'


the
' of


and


Revelation


that


vials


which


the
was


Seal


'the


mos


s are


cor-


Sagittarius


t potent..


, when


you


got


down


to the real My


ssional


know


edge


ery ritual,
Eventually


a guide t
Lawrence


'emotional


gav


theme


full


treatment


in Apo


calyp


se.


...[Following]


~


I


__ __


~









he held,


were


consciousness


clima


ctic


seven


The
sev


old


centres
Adam d


enth


or gates


ies


also


in seven
reborn.


'dynamic
stages;
Lawrence


develops
opening


...clothed


point
and,


finally


initiate


ecstatic


ass
are
in


ociation


very


this


the
anew


idea


last
' in


eternal


, this


from
The


with


close.


the novel


London,


terms


seal
Hades


self


moment


the godd
parallels


Mellors


ere


(the


out


significant


from
cess
like
seven


predec


rep
the
nth


resents
postula
stage.


are


eighth
series


sode


essors


initiation


is compared


'Then
a man


final


emerges


related


ess


temple,


between


ELady


Opening


seven...


occurs


this
. .the


the mystic


of
di


the Mys
es into


sexual


during


daz


ritual
stark


: the
flame


flame-


from


hell';


emergence
ed and


Chatterley'
of the Seal


encounters


a bri


seventh


encounter


sev


enth


scent
teries
life,


IS..


reunion
. 'the


is different


stage


into
, mus
is i


the


Hades


t di


initiated.


pro-


Connie,


this
The


Mysteries


, we remember


, repres


ented


this


rebirth


sexual
Dragon
reduces


act.


modern


the human


modern


Logos


Dragon, the
, as Lawrence


consciousness


dirty-white


call


nervous


which


system


a condition


death,


is def


heated.


Connie


, whom


vulgar
clothed


may c
with


all


et Woman,


s really


the


Woman


Sun.


Kermode


warns


that


approach


The


Faeri


Queene


way


would


"destroy


texture


then


cites


Lawrence


statement


beginning


Apocalypse


that


though

Queene,


a young


had


man


to gulp


almost


at hi


loved


s allegory,


Spenser

" and


Faeri


makes


following


observation:


This


sure


very
that


little


to do with


Lawrence


studio


Spen


ser;


but


The Faerie


we may
Queene


in detail


that


which


Christi
valuabi


it would
he used


have been by s
on Revelation,


imperial


stery


beneath


sophisti
h.52


;ome


method


a pee
*


cations


ling


akin
away


to reach


to
of
the


What


ironic


about


this


that


Lawrence


miaht


well


have


*


.


V-


J-


-









allowed


himself


to be blinded


prejudi


ces


conf


esses


that


am here


concerned


with


what


I consider


to be


shabbi


est aspect


Lawrence


s mind,


dark


side,


and


assures


that


penser,


the


other


hand,


"shared


offi


cial


horror


sects


suspect


libertinism.


Point-


out


that


"the


warrior


faithfull


true


' means


more


enser


than


Lawrence


could


conceive,


Kermode


makes


eloquent


but


ironi


plea


"better


under


standing"


The


Faerie


Queene:


nee


confid


a better


ent


under


humanity,


standing of
the methods


sober


whi


ch S


and
pen


ser


provide
present
double


contexts


meaning.
effort--we


in which


Such
must


an unde


study


arch


etypes


standing


causes


find


requires


Spen


ser


exc


sion


from


our


serious


reading


as well


texts
Since


and


contexts


have


attitudes


of The Fa


used Lawr


ence


deplore,


may


erie


eene


typic
well


self.


1 of beli
end with


one


sentence


in Ap


oca


ypse


which


my argument


endorses


'The


Apo


calypse


still


a book


conjure


with.


Perhap
to be


s the spirit
called.35


enser


will


one


day


cons


ent


Kermode


followed


own


advice


, he


would


have


covered


that


enser


did


inde


ed make


use


"beliefs


and


attitudes


similar


those


Lawrence.


They


were


found


species


The


the


Hermetism


purpose


question


this


quoted


known

study


as Renaissance


to provide


beginning


alchemy.

an answer


chapter


concern-


"impulse


" that


gave


penser


s poem


"sub


stance


and


form.


" I


shall


demonstrate


that


the


organizing


principle









Renaissance


esoteric


alchemy.


shall


show


that


esoteric


alchemy


was


a spiritual


discipline,


a kind


subjective


psychotherapy


which,


those


able


to unravel


arcane


symbolism,


provided


a psychological


vocabulary


no less


than


that


modern


depth


psychology.


And


finally,


after


examining


esoteric


tradition


within


Elizabethan


cultural


milieu,


particularly


impinges


on Spenser


circle


associates


shall


sent


a sys


tematic


alchemical


interpre-


station


(with


corresponding


psychological


analysis


of Book


Faerie


Queene.


While


practical


approach


advantages


taken


will,


this


think,


study


unorthodox,


speak


themselves.


Not


only


am I


able


to suggest


plausible


solutions


to critical


problems


which


have


been


regarded


previously


insoluble,


but


showing


that


alchemy


served


as a psychotherapeutic


discipline,


am able


to explain


how


a work


like


The


Faerie


Queene


could


function


as a


"magical"


poem,


capable


effect-


psychological


trans formation


a clown


into


gentleman.


long


Full


overdue:


appr


eciation


think


time


Spenser


s masterpiece


to destroy


dragon,


restore


kingdom


vitality.














NOTES


Rosemary


Freeman,


The Faerie


Queene


A Companion


Readers


(Berkeley,


1970),


2th


Williams,


Spenser


s World


Glass


(Berkeley,


1966),


3The


Work s


of Edmund


penser


A Variorum


Edition,


Edwin


Gree


citations
4


nlaw
from


Josephine


et al.


this


altimore,


1932


, 366-


369.


All


edition.


Waters


Bennett,


Evolution


"The


Faeri


Queene"


(New


York,


1960).


Original


edition, 1942.


Hamilton,


The Structure


of Alleqory


The:


Faeri


eene


(Oxford,


1961),


8-9.


Northrop
1957).


Frye,


The


Anatomy


Criticism


(Princeton,


Hamilton,


An unfortunate


aspec


t of


Hamilton


misconc


ago


s approach


option


1936-


or serious


that


-that


issues


that


. Lewis


"not
coh


one


or even


tacitly
sought
to look


erence


confirms
to dispel


vigorous


sanity


and


the


as long


thought


his


pen


ser"


(_The


Allegory


of Love


(New


York,


1958),


318.


Hamilton,


9
William


Nel


son,


The


Poetry


of Edmund


Spenser


(New


York, 1965),


116.


Michael


Murrin,


The Veil


of Allegory


Some


Notes


Toward


a Th


eory


of Allegorical


Rhetoric


the English


Renaissance


(Chicago,


1969).


a







Yet despite this,


one of


Spenser's most recent


critics,


Maurice Evans


(Spenser's Anatomy


of Heroism


(Cambridge,


1970)),


is content


to describe The


Faerie


Queene


esoteric
using a


"not a


literary


learned


poem demanding


sources but a


limited range of materials


relatively


in a


a knowledge of


popular one


complex but self-


defining way"


58).


In fairness


to Mr.


Evans,


whose


book
poem,


regard
let me


an otherwise useful


point


out


that he has


commentary


said


quite


on the


opposite


few pages


earlier


(pp.


48-49)


times,


indeed,


Spenser
modern


appears


Spenserean


to be encouraging the very thing which


criticism cites as


the chief heresy.


We are warned against treating the


difficult


the


poem is


code to


full


be cracked;
of enigmatic


poem


and yet


seems


images whose main


it were a
to me that


purpose


tease


the


reader


into thought.


Alastair


Fowler


has made a


rather unconvincing


attempt


in Spenser


and


the Numbers


of Time


(New York,


1964)


apply


a numerological


scheme


to The


Faerie Queene


similar


that which Mr.


Hieatt applied


so success


sfully to


the


Epithalamion.


Fowler's


information not available


study


elsewhere,


contains much


but,


in my


valuable
opinion,


conclusions


need


further


study.


Murrin,


Don


Cameron Allen,


Mysteriously


Meant:


The


Rediscovery


Paqan Symbolism and Allegorical' Interpretation


the


Renaissance


(Baltimore,


1970).


Angus


Fletcher,


The


Prophetic Moment:


An Essay on


Spenser


(Chicago,


1971).


Frances A.


Giordano Bruno and


Yates,


The Art of Memory


the Hermetic Tradition


(London,
(London,


1966),
1964);


"The Hermetic Tradition


in Renaissance


Science,


" Art,


Scien


and History in


the Renaissance,


Charles


Singleton


(Baltimore,


1967),


255-274;


Theatre of


the


World


(Chicago,


1969).


17C.
C.


Jung,


Mysterium Coniunctionis,


The


Collected Works


of C.


Jung,


Vol.


XIV


(New York,


1970),








symbolic


the


same


general


way


the


dynamics


the


psyche.


But


in the


dream


the


forms


are


quirked


the


peculiar


troubles


dreamer,


where


eas


in myth


the


problems


and


solutions


shown


are


directly


valid


all


mankind.


19C.


Jung,


Alchemical


Studi


, The


Collected


Works


Jung,


Vol.


XIII


(New


York,


1967),


194.


20This


cone


autonomy


in artistic


creation


(i.e.


eve


meaning


over


which


arti


has


no consc


ious


control)


will,


generally


acc


epted,


force


a drastic


reorientation


literary


criticism.


The


study


sources


and


influences


will


become


less


convincing,


and


structural


similarities


between


given


works


will


become


attributed


increase


ingly


to psychological


factors


internal


the


arti


Jung


describes


the


artist


type


thus


"the


specifi-


call


arti


stic


dispo


sition


involves


an overweight


coll


ective


psychic


life


as again


personal.


Art


a kind


innate


drive


that


seizes


a human


being


and


makes


him


ins


trument.


The


artist


person


endowed


with


free


will


who


seeks


his


own


ends,


but


one


who


allows


art


to realize


purposes


through


him.


As a human


being


may


have


moods


and


a will


and


personal


aims,


but


as an


arti


st he


'man


' in


a higher


senser--he


'colle


ctive


man


--one


who


carries


and


shapes


the


unconscious


, psychic


life


of mankind.


perform


this


difficult


office


sometimes


neces


sary


him


to sacrifice


happen


ess


and


everything


that


makes


life


worth


living


the


ordinary


human


being.


("Psychology


and


Lit


erature,


" Modern


Man


search


a Soul


(New


York,


1933),


169).


Flanders


Dunbar,


Symbolism


Medieval


Thought


and


Consummation


the Divine


Comedy


(New


Haven,


1929),


P. Walker,


Spiritual


and


Demonic


Magic,


Studies


(London,


1958).


Aqrippa


m


22D.







26
Angus


Fletcher,


Allegory:


The Theory


of a Symbolic


Mode


(Ithaca,


1964),


7See


below,


28
John Erskine Hankins,


Source and Meaning


in Spenser's


Allegory


(Oxford,


1971),


29
Pauline


Parker,


The Allegory


of The


Faerie Queene


(Oxford,


1960),


169.


30Fletcher,


Allegory,


35-36.


31
Graham Hough,


A Preface


The Faerie Queene


(New


York,


1963),


32
Parker,

33
Hough,


106.

94.


von Franz,


"The


Proc


ess


Individuation,


Man and His


Symbols,


Carl


Jung


(New York,


1971),


161.


35
Priscilla H.


Barnum,


"Elizabethan


'Psychology'


and


Books


(196


I and
, 66.


II of


Spenser's


Faerie Queene,


" Thoth


Ruth L.


Anderson,


Elizabethan


Psychology and Shake-


.5pQa


re's


Plays,


Iowa


University


Humanistic Studies


(1927),


37
Louise C.


Against
(1946),


Invoking


Turner


Forest,


Elizabethan


"A Caveat


Psychology,


for Critics


" PMLA,


LX'


652.


3Forest,


671.


Lawrence Babb,


logical Literature,


the


Nature of Elizabethan


" Joseph Quincy


Adams


Memorial


Psycho-
Studies,


James G.


McManaway


et al.


(Washington,


1948),


516.


S14..


3411.


40
R~hh n,








2Francis


Johnson,


"Elizabethan Drama


and


the


Elizabethan Science of


Psychology,


" English Studies Today,


Wrenn and G.


Bullough


(Oxford,


1951),


115.


43
Forest,


658.


Cf. Robert Ellrodt
"Zoroaster, Pythagoras,


s definition


of Neoplatonism:


'thrice-great Hermes,


' the Orphic


hymns,


the Cabbala and Arab


philosophy


entered


into


[the


syncretic nature of Renaissance


Plato and
Platonic


Plotinus.
Republic o


Far


Platonism],


from being


philosophers,


exiled


together with
from the new


Aristotle was


reconciled


with Plato by thinkers


known systems


like


Pico and Leone Ebreo.


of philosophy were tortured


the minds of men more alive


likenesses


into
than


All


harmony by
sensitive


to discrepancies;


Christianity.


and


That


the whole was


seething mass


loosely


of confuse


related to
d thinking


will be


referred


to as


Neoplatonism.


(Neoplatonism


the


Poetry of


Spenser


(Geneve,


1960),


45Evans,


82-83.


46
Fletcher,


Prophetic Moment,


129.


47Yates,


"Hermetic Tradition,


255


Frye,


195.


49
Rudolf Bernoulli,


in Alchemy


"Spiritual Development


Related Disciplines


as Reflected


" Spiritual Disciplines,


Papers


from the Eranos


Yearbooks,


Vol


Joseph


Campbell


(New York,


1960),


309.


soja


Kermode,


"Spenser and


the Allegorists,


" Pro-


ceedinqs


the British Academy,


XLVIII


(1963),


262.


Kermode,


262,


263-275.


Kermode,

53
Kermode,

54w.


278

273.

1%. a















CHAPTER


ESOTERIC


ALCHEMY


AS SUBJECTIVE


PSYCHOTHERAPY


very


recent


discovery


that


esoteric


alchemy


actually


what


we would


term


a psychotherapeutic


discipline


startling


enough;


even


more


astonishing,


however,


fact


that


there


essen


tially


no disagreement


between


psychology


the


unconscious


set


forth


writings


of C.


Jung


and


the


relationships


implicit


since


antiquity


symbolic


literature


esoteric


alchemy.


The


purpose


present


chapter


give


some


idea


the


availa-


ability


and


charact


eristics


alchemical


literature;


to show


how


modern


redi


scovery


alchemy


came


about;


to explain


relationship


alchemy


sticism,


myth,


religion,


and,


indeed,


modern


psychotherapy;


and


finally


to sketch


out


some


basic


conce


pts


alchemy.


Alchemy,


which


existed


about


thousand


years,


given


rise


to a vast


and,


until


recently,


puzzling


liter-


nature.


1 As


an occult


science,


alchemy


always


been


mys-


serious


and


enigmatic,


even


the


alchemi


themselves,


only


a few


have


ever


achieved


more


than


an intuitive


under-









insight


into


theoretical


relationships


alchemy


than


ever


before,


erature


itself


though


the


scholarly


availability


investigation


primary


the


material


lit-


remains


troublesome:


alchemical


books


and


manuscripts


are


rare


and


often


inaccessible


and


there


a scarcity


of modern


edi


tions


and


translations.


The


more


recent


secondary


sources,


however,


are


useful,


and


here


reader


will


find


summary


and


exce


rpts


from


alchemical


classic


, and,


indeed,


several


shorter


trea


ses


are


regularly


quoted


their


en-


tirety.


The


twentieth


century


has


fact


seen


a dramatic


re-


vival


scholarly


interest


in alchemy


is now


generally


recogni


that


there


was


esoteri


as well


more


family


exoteric


alchemy


and


that


esoteric,


or occult,


was


what


"philosophers"


referred


"true"


alchemy.


Following


seventeenth


gradual


century,


demi


of alchemy


esoteric


aspect


toward


was


the


nearly


end


lost


sight


older


standard


works


alchemy


regarded


merely


forerunner


of chemi


story.


The beginning


modern


redi


scovery


of esoteric


alchemy


did


not


occur


until


1914,


psy


when


chology


Herbert


Silberer


study


first


applied


chemical


the methods


symbolism.


Thi


depth

led


definitive


work


Carl


Jung,


whose


writings


a1ichmv


snan


a quarter


of a century--from


1929.


when


he nub-









Coniunctionis


,which


represents


summation


his


previous


studi


Gerard


Heym,


his


review


sterium


Coniunc-


tionis


, regards


this


work


as a key


which


may


finally


make


possible


to write


"mnt


elligent


commentaries


what


have


hitherto


been


uninte


eligible


alchemical


absurditi


reading


text


and


--and


studying
et it be


alJmo
said


every


here


availabi


that


alchemi


the


firs


time


person


Profe


and


ssor


scholar,


method


long


his


Jung


his


assoc


tory
iates


alchemy


have


has, certainly


"contacted"


their


read


more


the minds


logic;


that


so many
than any


the alchemi


the alchemi


a single


texts--
modern


and


were


logical


through


centuries


did


their


best


ere
psy


an edifice


chology.".
alchemical


exact
ject


than th
can ever


of what


Prof


can


essor


terminology,


pure
give


Jung
more


erary


called


today


nas given
profound
approach t


and


"para-
a lexicon


more


sub-


that


Using
anyone


"pure


could


erary


establi


approach,


a convincing


" there


was


no way


relationship


between


the methods


alchemy


goal


spiritual


perf


section;


certainly


terminology


"logic"


alchemy


were


much


a mys


tery


as ever.


Perceptive


traditional


commentary


could


little


understood


alchemi


more


primarily


had


than


establi


as a spiritual


been


that


disc


insisting


alchemy

ipline9;


century


was


to be


this


Thus,


anonymous


supplement


English


translation


Ruland'


Alchemical


exicon


(the


Latin


original


famous


work


was


published


in Frankfurt


1612),


we find


under


"Method


Interpretation" t


following


entry:









assumes


Stone
cancer


can dive
trate to
deep (the


a pur


One writer


int
its
pa


O


the


centre,
ssions)


ely


moral


explains
depths of


avoiding


which


or spiritual
t as follows:


S O
the


guard


wn


soul


mons


the


mys


signifi-
He who


pene-
the


ters


ery,


and


water


-nymphs


s attention,


(the


will


esires
find


who endeavour
that centre


to distract


jewel


price


ess


Revealed,


myst
which


serious


"no t


value


, the


before
temple


tongue
lawful


whose


veil


can


Philos


opher


touch
open,


describe


man


, and


to utter.


s Stone,
portals
he will


hear


or Wi


sdom


the


behold


words


He will


which


find


seed out


eaten


for he will
immortal in


which


fruits
be one
Him. 10


grows


tree of


that


with


tree


Chri


life


, he will


and


and
die


will


having


no more,


rendered


This


analogy


not


only


character


stic,


but,


we shall


see


, it


also


an accurate


description


which


compresses


to a few


words


basi


phenomenology


spir


itual


pro-


cess


depicted


symbolically


alchemy.


an ess


originally


published


eam


Symbol


Process


Individuation,


but


later


titled


"Individual


Dream


Symbolism


Relation


Alchemy,


Jung


points


out


that


the


dreams


patients


undergoing


psy


chotherapy


there


the


same


kind


symbolism


that


found


alchemi


writings.


Indeed,


the


similar-


often


more


than


just


symbolic,


as can


seen


from


following


dream,


which


nearly


identical


analogy


quoted


Supplement


to Ruland


Alchemical


Lexicon


sea


ere


treasure


To reach


to dive


through


a narrow


opening.


This


dan-


gerous,
dreamer


but


takes


down


below


the plunge


will


into


find


the


a companion.


dark


The


covers


a beautiful


garden


in the depths


laid


out,


with


a fountain


the cent:


seyre tr ically


the









Marie-Louise

assistant, d


von Franz,


describes


Jung's


the process


colleague and research

s thus:


By observing


a great many people


studying


their
least
all d
life
one g
found
arran
"the
diffe
who a
aware
dream
seque
disap
dream


dreams
80,000
reams a
of the
reat we
that,
gement
process
rent sc
re not
of any
s over


nce,
pear
rep


dr
re
dre
b o
on
or
of
ene
car
pa


ea
re
am
f
th
pa


estimated that he
ms), Jung discover
levant in varying
er, but that they
psychological fac


e
tt


whole,


ern


indivi


s and
eful
ttern


a period


one w
, and
eatedl


ill


t
y


situations; and
series, one will
ceptibly. These
dreamer's consci


hen
of
if o
see
cha
ous


tu


r


the
ne
th
nge
att


they


. This
duation
mages e
servers
But if
f years


see
patt
" S


very
will
one
and


that cer
n up aga
same fi
follows
at they
s can be
itude is


interp
red not
degree
are al
tors.
m to fo
ern Jun
ince dr


n


tai
in.


eight,
probab
atches
studies
conte
Many


gures,


reted
only
s to
1 par
He al
allow
g cal
eams


at
that
the
ts of
so
an
led
produce


people
ly be un-
one's own
the entire
nts emerge,
people even


landscape


these through a whole
change slowly but per-
accelerated if the
influenced by appro-


private interpretation of
contents.
Thus our dream life


the dreams


creates


and


their


symbolic


a meandering pattern


in which individual strands or tendencies
ble, then vanish, then return again. If
this meandering design over a long period
can observe a sort of hidden reculatins o


tendency at
cess of psy
Gradual
emerges, an
visible to
"arrested d
a process o
every indiv


be brought
but happens


dreams


wo
chi
ly
d b
oth


, create
growth--
wider an
degrees


The f


ers.


development" sh
f growth and m


idual.
about b
involu


frequently


powerful, involunt
pattern.
The organizing


eff
our


ect
psy


stems
chic


seems t
system.


ng
the
d m


O


slow,
process
re mat


becomes


act
ows
atur


tha
tha
ati


imperc
r-


r in
per
tive
often


s po
c gr
rt o
lly,
tree
s a

the


1


s
ur


effe
t we
t we
on i


Since this psychi
y a conscious effo
ntarily and natural
symbolized by the


ary


growth fulfill


center


.0
a


be a
ne coi


from which


sort o
uld al


f "nuc
so cal


become visi-
one watches
of time, one
r directing
eptible pro-
dividuation.
sonality
and even
n speak of


ume t
ssibl
owth
f wil
it i
, who


at such
with
annot
power,
in
e slow,


definite

regulatory
ear atom" in


1 it


t


he in-


k


b


I









We will


have


grasped


much


of what


alchemy


about


soon


we reali


that


purpose e


opus


alchymicum


was


to nurture


and


accelerate


this


same


process


psy


chic


growth,


and


where


possible


, to bring


fruition.


Thus


when


author


alchemical


tre


"The


Glory


the


World"


describes


the


Philosopher


s Stone,


actually


describing


the


unconscious:


[The
old,
town,


Stone] i
is found


in all


all.


cas


into
with
human


ecious


familiar


to all


men,


country,


things


ch and


cre


poor


street


Yet


soul,
thing


upon


ated
handle


servant


no one


pri


zes


most


earth,


and


God;


both


young


village
yet it i


.every
maids.


and


espi


day. It
Children


though,


beautiful


has


power


ne%


mos


down


to pull


kings


vil


and


est


princes
means


Neve


t of


rthel


earthly


ess


things


is esteemed


the


is cas


away
which


prepared


price,
the he


and,


?ave


nly


ected


and


never


rthe


ected


builders


all.


Indeed


of Solomon


in the right


indeed,
Corner


this


ess


was


way,


the earthly


Stone.
world


more


Stone


sallowed
is a pe
antitype


As Chri


the


precious


stwas d


people
than


But


without


Chr


espis


heaven


ist,
ed
Jews


and


earth;


is with


spring


our


ere


Stone


found


among


earthly


is calle


things:
e fount


of nature


For


even


through


Nature


growing


things
through


are


Natur


nerated
e is our


Stone


heat
born


after


Sun,
that


so also


been


generated.


should


be cl


ear


from


thi


description


Stone


and


ere


found,


the


eat secret


alchemy


what


Jung


calls


"obj


active


psy


che


Sit


the


unconscious.


The


undervaluation


description


lust


the


quoted.


unconscious,


no means


as we see


an exclus


from


ivelv


ro ur


L~IL










psychologically


equal


easier


and


safer


pretend


that


unconscious


does


not


exis


Indeed,


unwary


can


very


easily


fall


victim


to schizophrenia,


or a


severe


psychosis


. The


hermetic


philosophers


are


therefore


quick


to point


out


that


while


Stone


"Universal


Medicine,


" it


can


also


"deadly


Venom


and


Poison.


"The


Sophic


Hydrolith"


find


following


advice


...the


stud


preparation of
before he knows


should


this
well


according


"With
should
exact
works,


this


not


spirit,
meddle


knowledge


remember


great
the


ential
says a


until
it.


He is not


you
For


not


ins


spirit


to begin


crutable


that


qualities
*


certain


God


lurks


and


* 1.


philo
have a


is marve


arcanum
in it


properties


sophe
full
llous


, "you
and
in His


mocked....


For
perhaps
play.


may
do


this


work


because


Those


indeed


thou


to whom


find


carefully


no li
Sages
God h


ght


have


reve


experiment


beware


exp


thing


as many


called


aled His


simple
losing


and
thys


suppose
hild's


sec


eas
elf


rets


But


great danger


egin


thy


work


unseasonable


with


reverent


care
fear


essness


and


awe


Rather


and


with


earnest


iray


then


thou


wilt


little


dang


er.


undertake


opus


alchymicum


submit


psyche


to a violent


confrontation


of opposites.


Jung


points


out


that


this


amounts


to having


"volunteered


to die


order


to beget


a new


and


fruitful


life


that


region


the


psyche


which


hitherto


lain


fallow


darkest


unconsciousness


under


shadow


death.


Erich


Neumann


points


out


that


attempt


transform


personality


from


within,


compelling


on n r^ I-^ n+4 n nl n n 4- --nnann, h


S~;C


inC ~rsnC


%>


nnnehnCn


niim innirn


nnn ^rr^ T


rrt CHrr









Every
take,


numinous
is mystic


a fascination,


sciousness


experience,
al. The nu
a richness


to apprehend


whatever


ominous
beyond


and


form


content


organize,


may


possesses


power or
a charge


con-


energy


surpassing


consciousness


Hence


the


encounter


total
every


a situation


itself";
conscious
changed


with


leads


personality
confrontation


sness
form.


arises
falls


and


always


and
of


not
the


to
only
ego


in which


is wrenched


can


an upheaval


of
with


ego
out


return


consciousness


goes
of
elf"


e numinous,
"outside


shell


only


The


trans


appearance
system of


formation


the


nuinen


consciousness


the


detaches


and


also


personality


tne ego
from it


through


from


old


its


the
old


relation


world,


unknown
of the
vided b


but


which


numen,


creative


conscious


price
holds


conne


within


is renunciation


orie


nation


action


with


possibility


security


entrance


into


pro-
the


fundamental


paradox


mystical.


Since
experience


lation, th
the dogma


reve
with
ness
oppo


conscious


The


erience


the


the self


ego
and


creative


ected


agencies
-mystical


dominant


contents


by
of


numinous


"voice
comes


it
the


always


" which


into


dominant


experience


religion


the


and


cultural


brings


conflict


conscious-


nature


dominant


canon--that


it is


in principle


revolutionary


and


heretical.


Despite


her


etical


aspect,


"holy


alchemy"


was


regarded


adepts


religion


behind


all


religions.


Indeed,


any


mediation


between


ego


and


unconscious


essen-


tially


a religious


undertaking;


it i


perhaps


no exaggeration


that


only


true


athei


are


those


who


refuse


beli


eve


unconscious.


Because


the


nature


relationship


self-correcting


unconscious

mythology.


process,


alchemy


It represents


wha


functions

t Joseph


as a

Campbell










or will


sights


calling "
the order


pretend


to have


, sentiments,


eative"


is reversed:


and


experienced,
commitments.


mythology,


certain
In what


other


individual


hand,


has had


exp


erience


of his


own--of


order,


horror,


beauty,


or even
municate


mere


exhilaration


through


signs


--which he


and


seek
reali


com-


zation


has b


een


munication


myth


--for


of a certain


will
those


respond


have


that
thems


depth an
the value


say,


ves


with


import,
nd force


who


his
of


receive


com-
living
and


recognition,


uncoe


rced.


It is


erefore


a naive


misconception


to imagine


that


mythological


aspects


so character


stic


alchemical


writings


are


borrowed


invented


rather


than


experienced


st hand.


Alchemical


thinking


this


respect


comparable


that


primitive


man,


whom


myth,


as Ernst


ssirer


observed,


s actually


"form


thought.


Pointing


out


that


psyche


"contains


images


that


have


ever


given


rise


myths,


Jung


states


that the


unconscious


acting


and


suffering


subject


with


an inner


drama


which


primitive


man


rediscovers,


means


analogy,


process


ses


of nature


both


great


small.


This


another


way


saying


that


myth


is an expression


what


Jung


calls


the


archetypes


collective


unconscious.


Since


character


stic


feature


alchemical


symbolism


archetypal


nature,


essen-


tial


that


ere


be a clear


under


standing


exactly


what


the


concepts


the


archetype


the coll


active


unconscious


imply,


and


on what


basi


they


have


been


postulated:










eelinq-


cons
life
on t
our
cause
cons
arch
with
remo
in t
rela
But
logi
[Arc
and
form
inst
and
dire
and
chil
schi
as c
drea
their
heri
acqu
be s
type


I 1


titu
. T
he o
purp
e it
ciou
aic


toned


S CO
or--


v


S
re

P
p
o
o

d
1
h

r
1


t
h
t
i
c
h
P
a
i
t
c
i
d

a
m
e
t
i
e
s


M
iou
ing
con
teg
per
rso
d c
amn
im
per
ex
nta
my
ey
ruc
le


on
sci
ori
son
nal
an
esi
per
ien
pla
sy-
tho
cor
tur
-hh


ersa
time
mina
wit
try
, th
es]
rmed
ndit
Th
ream
1 fa
is w
s dr
enia
so b
nor
, a
ossi
ons
rom


complexes


e pe
nten
hand
this
s us
tent
wou
l1 im


se
my
to
ma
an
pat
ons
ir


the


n
a
s


IIL A I


I]


rson
ts o
, ar
ter
tha
s ar
Id s
ages
. wh


al
f t
e k
m i
t s
e c
ay-
th
at
is
eso
bli
be
how
s,
app
enc
nth
tiv
ce,
wel
shi
th
ons
of
of
the


universe


chology
-activi
e uncon
yche ab
first, fa
racter,
fences,
e comply
cond, f
charact
the in
s somet
undoub


al
nd
eme


a
h
n
s
o
o


as they
nd priv
e colle
own as
appos i
far as
ncerned
primord
t have
he word
lear en
eric te
h what
omes mo
to be
he latt
rceptio
gives
opomorp
ty into


th
as
my
gh
nd
nhe
dea
ain


e f
in
tho
in
neu
rit
s.


OCCUR


treat


ty
sc
ou
nt
w
t
et
an
er


d
h
t


types.
to cer
nts of


as self
ious, or
t itself
asies (


h
h
e
t


ich
ing
ly
asi


ividu
ing i
edly
We I
tain
the
F1Im


go
fo
xpl


i's
div
ave
Lust
oil
uma
n+- c


are


ougn,
achin
an ar
re co:
inher
er be
n tha
the w
hic s
its
antas
the d
logic
lesse
rotic
ed id
Nor
common


called:


etyp
nd h
col
are
type
ted
chet
I


tn


of
con
es.
elp
lec
dea
S,
sin
ype
en,
and
typ
ica
d i


amp
ppo
-im
lus
1 p
de


rrence of

e product


port
as s
Th
nclu
ack
gott
ined
incl
anno
past
dual
their
their
ctiv
-psy
PSI,+


rait
tate


I Ir


1111


int
age
ion
ara
gre
It
but
the
all


they
psychic
cious,
.. For
ul, be-
ive un-
ing wit


s
ts
tale.
sycho-

ts
and
on
child


aths


s n
of
in
as


such
the
t,
n-
ividual
can


arche-


of u
of w
ents
11 in
dream
stion
repr
ndivi
drea
reduc
thus
quire
sest
assu
not
n gen
mrn h


ncon
hat
of t
to t
s) o
ably
esse
dual
4


ms
ed
C1


d.
an
me
pe
er
ndl


) or
to
annot
These
alogues
that
rsonal)
al, and,
v re


)
)










obliged


assume


existence


a collective


psyc
coll


hic


ective


stratum.


unconscious


have
23


called


The


symbolism


alchemy


derived


from


archetypal


language


eams


and


fantasy


it is


erefore


an expression


the


coll


ective


unconscious,


which


, ind


eed,


source


the


religious


instinct


in man.


Small


wonder


that


the


adepts


considered


alchemy


a holy


art.


Except


fact


that


alchemi


usually


must


serve


as both


doctor


and


patient,


he might


well


be compared


patient


modern p

through


sychoanaly


whose


unconscious


function


Though


to guide


alchemi


his

can


look


to hi


secret


books


for


guidance


task


is not


easy,


books


are


a riddl


themselves


, being


"written


from


without


from


within,


" like


scroll


Ezekiel


Vision.


Supplement


to Ruland


Alchemical


Lexicon


language


Philosophers


is described


thus


writings


never


in
ace
The


express
vulgar


ording
sense


which


Hermetic


true


tongue,
he lite


is pr


Science


significance


and
ral
esen


they


sens
ted


must


, the Phil


of
not


e


thei
be


expr


on the surface


r


osophers
thoughts


interpreted
*


sessions.
e is not


true
alle


sense.


gorl


them


his


adapts


explains
from the


stillation,


fires


oth


in use


ers


They
fable
after


phil


rations


course


in enigmas


similitudes


own


osophical


common


sublimation,


among


chemi


invariably


manner.


rations


chemi


etc.
sts,


, metaphors,


each Philo


A chemi


in terms


stry,
furna


as Gebir,


An alchemical


sopher


Adept
borrowed


speaking


ces


, of


Parace
soldier


vases


sus


like


Denis


harie


borrows


imagery


from


battles


. .- t


c


r


I


q









series


understand


their


meaning,


and


one


Philo-


sopher
explain
manner.


equently


another
24


in any


cons


comply


erably


ete


embarrassed


and


intelligible


An alchemi


name


John


Cremer


complains


that


spent


thirty


years


"was


in perusing


writings


authors


whose


whol


ingenuity


seemed


to have


been


concentra-


ted


upon


expre


ssing


thought in


unintelligible


language.


The


celebrated


fifteenth


-century


alchemi


Thomas


Norton,


"The


Ordinal


Alchemy,


" critic


zes


practice:


though


unassuming


contemn


this


matter


I must
style,
For


have


unintelligible


express


no candid


that


rend


ere


an exag


myse


If in


rea


der


before
their
gerated


a plain
should t


me have


books


use


and


therefore


written


secure


and


of poetical


imag


ery,


obstruct


fie
who


parables
the path


know


strives


, and


edge


to put


metaphors


those
This


eir


who


precepts


which


grievou


st enter


reason
into


that


a beginner,


practice,


only


ses


trouble


and


his


mon


is daily


seen.


Hermes


Rha


SLS


, Geb


Avicenna,


Merlin,


Hortulanus


Democ
many
veil


ritus,
others


More
have


of obscurity


nus


conce


, Bacon,


aled


Hence


Raymond,


their


their


Ari


meaning


books


stotle,
under


which


they


and
a


have


hand


ed down


, have


een


a source


endl


ess


error


spite


their


delusion


the


writings,


vulgar


beautiful


no one


conceits


has been


and


which
e to


abl


learned,
abound i


find


and,


a path


through


been


reduced


wilde
to d


rness


their


word s


many


have


espair.


There


were,


other


hand,


those


who


advise


the


adept


to search


rather


similarity


than


differences.


The


that


German


"the


alchemi


treasures


st Michael


of Hermes


Maier


are


(1568


not


-1622)


laid


points


open


out


one









Let your mind
various saying
of their comm
influenced in
find the right


be
gs o
on m
dif
t pa


ke
the
nin
ren
28


a firm Rock, in which all the
Sages are reduced to the unity
g. For a man who is easily
t directions is not likely to


The


author


"The


Sophic


Hydrolith"


observes


that


although the
subject with
many peculiar
parables, and
agree in poin
same Matter a
Art. 29


phil
reat
sing
ange
out
senti


oph
var
ar
d f
e s


ers
iety
expr
anci
ame
the


have
of
essi
ful
goal
rig


treated t
methods, a
ons, curio
words, yet
, and one
ht conduct


his
nd used
us
they all
and the
of the


"The


Only


True


Way"


adept


advised


let
your
prod
frui
deve
and
know
the
be a
prov
from


the Book


libra
auction
ts of
lopmen
autumn
ledge
flower
ble to
ides i
them


ry.
of
the


S
n
(o


in
by
Na
and
et
the


r


Nature


Obse
etal
arth
the
rain
ture
in
your
bow


their


be
her
ut
d t
ter
su
.eth


he
a
ns
od


m
th
th
r
d
in
i


opening t
hand to t
Is of the
substance


OS


t favoured


ods,
e pro
const
summe
e. I
n pro
gree
germ
arth,
that


, in
you
ucin
fru
whi
and
which


g t
it,
ch
to
yo


volume
in the
of the
th and
e spring
d a sou
he bud
you wo
Nature
educe
u so mu


in



g
nd
and
uld


ch


desire.30


Do not


then


suffer


rself


to be


thrown


off


your


guard


you
the
sio
fro
sta
pur
and
inc
sub
lan
per
sub
sol
the


th
me
ns
m t
nce
ifv


w -


n

o


y the
rough
als,
,ean,
eir w
and d
and c
begin
e the
ce tu
e of
enti
ces;
in or
se st


you wl
and wi
writing
issolv
alcine
s to t
fire
rns re
the An
rely i
indeed
der to
udent


cien
gnor
, th
hid
of N


nra
he
now
.ot
,at
.un
til
whi
cal'
Suc
.ts
ant
e A
e t


pie
at
e s
mu
it
he
an


C

n
h


atur


an
of
cie
eir
e.


fu
the
ome
st
tu
bla


e n
s w
eal
o t


nda
ir
mo
tak
rns
ckn
fte
toi
rpr
sug
atu
rot
me
his


an
e


An
*


nta
igm
rns
a c
iac
s d
tha
unt
ati
st
of
as
ing
nd


clients
1 natu
atic e
, cone
certain
k, the
isappe
t, onc
il the
on of
itself
metal
they d
from
thev w


. If
re of
xpres-
lude
sub-
n again
ars
e more


the
to
lic
id
all
ere


but
in


L
I.


If


t,


\


.J








raised
ment,


from the


lowest


and although


intelligible enough


can gather


that


from their


the substance must be


the highest


the meaning


stage of


the Ancients


the initiated,
language no more


taken


from


yet t
than


the metals


develop-
is
ignorant


fact
31


The question which now presents


itself


is whether the


alchemists


really did


grasp what


it was


that


their veiled


language was


concealing;


understanding


that is,


sacred


arcanum?


how conscious was


In nearly


their


every


alchemical


treatise


there are explicit warnings


about


danger of


communicating


science


the


unworthy,


and


the adept


is invariably


sworn


to uphold


secret.


the magnificent Aurora


Consurgens,


a document attributed


Thomas Aquinas,


This glorious


saints


the matter


science of


secret of


is put


and


thus:


doctrine of


philosophers


and medicine of


physicians


not.
far
led,


fools despise,


These will not have


from


them,


nor


for everyone who
that not without


doth such


for what


the blessing


and


science befit


ignorant of


cause.


For


Speculator


they


know


it shall be
the unskil-
its enemy,
saith:


The mockery


science


the cause


ignorance,


and


lettuces
suffice


are not


them,


to be given


nor


to as


the children'


ses, to
s bread


thistles


to be


set


before
before
noble


dogs


swine,
science:


to eat,


and


nor


are


such mockers


pearls


are


not


to be


cast


partakers


this


he would be a breaker


heavenly


seal


science known
of this wisdom
fool perceive


reason.


seeing
that i


For


that he


s asleep.


who


should make
he unworthy;


enter


into


secrets of


nor


a gross


it on account of


the wise


that


have


speaketh with a


For Morienus


saith:


shall


body,


nor


the perversity
spoken to the


fool
If


this


spirit


can


of his


foolish,


speaketh with one


were


unriddle


things


they


are,


there would nowhere


De any
be made


further place


equal


for prudence,


the wise;


for the


fool


nor would any mortal


would
under


the


sphere of


the moon bewail


in stepmotherly poverty









There


can


no doubt


that


many


Philosophers,


pro-


bably


majority


them,


deliberately


said


less


about


their


then


they


might


have.


But


because


the


Philosopher


Stone


was--as


we now


know,


thanks


to Jung--in the


uncon-


scious,


was


not


a concept


that


could


be grasped


directly;


like


the


idea


of God,


transcended


human


understanding,


could


be describe


ed only


terms


effect.


must


constantly


bear


in mind


that


data


from


which


the


philosophical


were


and


subsequently


moral


relationships


incorporated


intact


were

into


drawn


which


alchemical


theory,


were

not


supplied


have


dreams


understand


and

his


fantasies.


dream


The


in order


dreamer


to dream


does

it:


an archetypal


dream


is a spontaneous


production


the


psyc


result


conscious


invention:


same


token,


alchemy


was


regarded


as a revelation,


a gift


Holy


Ghost.


we have


seen


the


beginning


this


chapter,


the


alchemical


parable


cited


the


Supplement


to Ruland


s Alchemical


Lexicon


is nearly


identi-


dream


modern


patient--a


young


man


without


any


knowledge


whatsoever


alchemy


related


areas--


und


ergoing


psychotherapy


This


means


that,


since


dreams


depi


cting


proc


ess


individuation


are


archetypal


and


erive


from


collective


unconscious,


an individual


now,


any


time,


past


or future,


could,


effect,


reconstruct









the


otherwise


puz


zling


fact


that


Chinese


alchemy,


which


developed


on its


own


and


without


western


influence,


basic


agreement


Suffi


say,


with

then,


the

tha


principal

t the in


of western


dividual


alchemy.33


alchemist,


having


had


a particularly


numinous


dream,


would


have


trouble


accounting


imagery,


relationships,


and


even


cast


characters,


turns


to the concepts


and


terminology


to be


found


his


secret


books


Jung


pointed


out


that


alchemical


language,


those


who


can


read


represents


very


accurate


interpretation


the


archetypes


involved,


that


alchemi


st communicated


experience


est


could,


though


without


ever


under


standing


to the degree


that


psychological


explanation


makes


possible


today.


Thus


sight
nology
symbol


tney y:
from tl


very
and


the
diff


way


language


erent


same


field


a meaning


from


thinking.


way a
such


problematic


the
our


alc
psyc


But


hemi


hological
f we treat


we treat mod


modern


we have
materi


ern


alre


al.


at first


termi-
their


fanta


ady
The


sies


deduced
obvious


section


that


meaning


conv


eyed by


the mod


fanta


sy-material


has b


een


uncritic


ally


transf


erre


torical


material,


which


chemi


inter-


pre


quite


differently,


is dispro


ved by


that


even
their
Their


in the Middle


symbol
"philo


psychology.


Ages


in a mora


ophy "


3


was


conf
and


, ind


ess


ed alchemi


philo


eed,


sophical


nothing


interpre


sense.


but


proj


ected


can


now


briefly


examine


basic


postulates


alchemical


theory


terms


eir


modern


psycho log


ical


ern










Emerald


Table


Hermes


Trismegistus,


states


thus


"That


which


above


like


that


which


below,


that


which


below


like


that


which


above,


to accomplish


miracles


one


thing.


The alchemical


elements


form


a quaternity


comprising


(gold)


and


Luna


(silver),


which


symbolize


respect


tively


conscious


unconscious


masculine


psyche;


and


Sulphur


and


Salt,


of which


former


considered


"companion"


of Luna


and


latter


one


her


attributes.


Sometimes


quaternity


the


form


an apparent


trinity


composed


Sol,


Luna,


and


Mercurius


duplex.


times


these


relationships


can


expressed


a double


quaternity


are


images


heaven


and


earth,


summer,


autumn,


winter,


spring,


male


female.


However


depicted,


quaternity


archetype


(e.g.


the


four


qualities,


four


elements,


the four


directions,


four


seasons,


etc


which


may


interpreted


four


orienting


functions


which


the


conscious


mind


takes


bearings.


unperfected


psyche


there


reliance


on a single


dominant


function


which


thus


has


maximum


consciousness


and


which


chara


cterizes


the


individual


s personality


type;


functions


have


varying

general


degrees


completely


unconsciousness


unconscious.


and


The


the f

opus


ourth


alchymicum


1-~; S :1 z r


*


I ~


m m


r


L I


1~


,1









were


conscious


proper


equilibrium,


we would


have


the


e.g.


psychological


Shakespeare


description


or Leonardo--with


"Renaissance


his


Man"--


supranormal


competence.


is surely


context


that


we must


under


stand


statement


Emerald


Table


Hermes


having


"three


parts


the


wisdom


whole


world":


True
That


and


without


which


that


above


which


sehood,
like to


is below


certain


that


like


and


which


that


most


true.


below,


which


above,


things


accompli


thing
arose


adaptation.
the Moon.


miracles


were


from


The


The


one


contemplation


this


one


father


Wind


thing
reof


carried


thing.


one,


a single


the


in its


Sun,


womb,


And


so all


act


the
the


mother
Earth


nurse


thereof.


the father


all


works


Wonder


throughout


whole


cas


perfect.


the elem


from


gently


Earth


gross


from


to Earth,
superior
the glory
obscurity


and
and


With


Earth


world.


t onto


that


from


great


to Heaven.


uniteth
things i


in itse
nferior.


bright


will


ess


from


The


Earth,
of Fire,


sagacity
Again


Thus


power
t will


the


it doth


it doth
force f
thou wi


the whole


thee


This


thereof
separate


subtle
ascend


ro
It


world,
thing i


escend
m things


ssess


and


all


the


strong
every


subs


fortitude


subtle


tance.


there
manner


thing


Thus


all
and


was


marvellous


this.


For


strength,


doth


this


pene


world


adaptations


this


reason


overcometh


trate
create


achieved,


am called


solid


Hence


will


of which


the


Hermes


every


Trismegi


stus-,


whole


cause


world.


hold


That


three


which


parts
had to


the


say


wisdom


about


operation


is comply


eted.


The


precepts


contained


Emerald


Table


are


fundamental


alchemical


thinking.


Since


maximum


consciousness


goal


symbol


zes


the

the


process

conscious


individuation,


mind,


and


slnce


appropriate


that









this


realm


unconscious,


here,


contrast


consciousness,


there


are


no sharp


distinctions.


The


unconscious,


with


capacity


elusive shape-shifting,


is aptly


summed


figure


Mercurius:


Since
exist
jecti
conce
itsel
where
veget
and s
form.
both
and t]
and o
realm
"inte
the ":
spons
into
sonou
This ;
the d
the e
count'
drago.
sulph1
by co:
lapis


, in his
in reali
on, and b
pt in alc
f. He is
nothing
ativus (1


lyve
pa
he
th
gib
en
Ecc
asc
rag
es


alchemical


ty,
ecau
hemy
by
can
ivin
ways
here
d pa
kes


h *
ry p
. Chr
by
. Me
a f
the
that
pis
lew
t.
ive
s id
ght"


form,


ere
t) ,
in
tti
. *
th
is
ir
st
he
cur
min
sam
the
o C
f t
urt
spe
nti
sub


ng
He
e
eq
So
in
wo
iu
in
e
d
hr


Mercurius


iy c
is
masc
uiva
1 an
his
man,
s is
e ha
time
rago
ist,
dev
rmor
of
1 wi
ance


con
lut
th
the
d;
an
ty
all
by
uli
len
d L


my
" i


no
If,
th
n i
in
il
e,
sul
th


does


i
e


natur
ne re
t in
una,
stica

t onl


ut is
heaven
analog
ccorda
an au
t only
ur, na
e devi


not


ro-
ame
cio
iou

pri
ren
ex,
ndr
ulp
ce
in
ndr
nsu
pli
the
ly
ous
nce
ton
th
mel


itus
iple
ated


ogynous
hur
lestial
the
ogyny,
s and
t
DOi-


Salt


similar


Sulphur


subs


tance


closest


to Sol;


also


times


synonymous


with


Mercurius.


Like


Mercurius,


Sulphur


duplex:


the ac
sun.
great
has an
materi


is a red


ive su
he spe
in th
their m
, and


b
c
e
ie
i


a white


ce o
"vi


t var
ng:
his f


. -


he
te"
y.
the
it


sulphur,


moo
of
Bu
on
is


n,
su
t
e
b


..


e red
ur is
dupli
d it i
inq an


whi
that
said
city
s th
d co


t


e being
of the
to be
also
prima
rosive


]
]

1


.


w


i









The negative aspect of


Sulphur


the psychological


equiva-


lent of


and


undesirable


not


contents


theriomorphic,


the personal

personified


unconscious,

as masculine.


It is


the archetype


The s
whole


hadow


termed

a moral


ego-personality,
shadow without


Shadow:


problem that challenges


the


for no one can become conscious


considerable moral


effort.


become conscious


it involves


recognizing the dark


aspects of


This


act


he personality
the essential


as present and


condition


real.


any


kind of


self-knowledge,


and


therefore,


as a rule,


meets


with


considerable resistance....


Closer


that


examination of
inferiorities


the dark


constituting


characteristics--


the shadow--


reveals


that


autonomy,


possessive
adaptation


they
and


have an


accordingly


quality....
is weakest,


emotional


nature,


an obsessive or,


Affects occur


same


a kind


better,


usually where


time


they


reveal


reason


weakness,


namely


a certain degree


of inferiority
of personality.
uncontrolled or


the


this


scarcely


existence of


lower


level


controlled


a lower


level


with


emotions one


behaves


more or


less


like


a primitive,


who


is not


only the p
singularly


massive


victim of his


incapable of


moral


affects
judgement


but also
44


The


psychological


characteristics


of Luna are


summed


archetype of


the collective


unconscious


which Jung


has


termed


the Anima.


The Anima


the personification


unconscious


which


sexually


compensatory


consciousness;


"woman hidden


in man.


moon has


two


sides,


a light and


a dark,


the Anima


both good


evil:


With
realm of


the archetype of


the gods,


anima


or rather,


we enter


realm


that meta-


physics


has


res


erved


itself.


Everything the


anima


---~- --


--w









reasons


tion


that


not


had


prying


better


into


been


left


unconscious
unconscious


an occupa-


and


un-


disturbed.


As usual


, th


ere


something


in what


anima


both


bad.
good


life


Because


and


bad.


itself


anima


These


is not
wants


good
life


categories


only,
, she


do not


wants


exls


in the elfin


categories


realm....


, and


can


The


their


anima


before


lives
spense


beyond


with


blame


as well


man,


with


as with


his


praise.


whole


some


since


anima


the beginning
instinct, has


time


been


engaged


in combat


soul


were


with


his


uniformly


soul
dark


its daemonism.


it would


a simple


matter.


Unfortunate


this


is not


anima


can
who


appear
points


also
the


as
way


an ang


el of
high


light,


a psyc


hopomp
4b


meaning...


Salt,


philosophical


sense,


is an attribute


rather


than


a substance:


represe


"the


feminine


principle


Eros


, which


brings


everything


into


relationship,


almo


perfect


way.


The practical


or visual


aspect


alchemy,


which


took


place


laboratory,


was


a series


of procedures


which


supplied


a phy


sical


analogy


spiritual


changes


which


were


occurring


simultaneous


mind


adept.


"puffer"


who


took


it literally,


art


consisted


in placing


small


amounts


gold,


silver,


sulphur,


and


salt,


plus


enough


quick


silver


to provide


a mercurial


"bath,


a hermetically


sealed


retort,


and


subjecting


seri


heating


and


cooling


procedures.


The


alchemi


not


agree


order


or even


names


the


operations,


Josephus


but


sequence


Quercetanus


twelve


"De ortu et


forth


causes


metallorum"









Sublimatio;


Fermentatio;


Exaltatio;


Augmentatio;


Proiectio.48


The


"essence"


the


alchemi


cal


art


Jung


describes


thus:


indicated


it--the


spagyric"


the
art-


very


-or


name
the


which


chose


oft-repeated


saying


"solve


et coagula"


ssolve


and


coagulate),


the
and


alchemi


analy


saw


sis


essence


one


hand


of
and


his


art


synthe


in separation


S1S


and


con-


solidation


oth


er.


For


him


there


was


first


an initial


state


which


oppo


site


tendencies


ces


estio


were
n of


in confli


a pro


cedure


secondly


which


woul


there
d be


was


the


eat


capable


bringing


were
named
to be
the b


the hostile


separated,
the chaos


back
was


sought
beginning


an even


eater


elements
to unity


not


the


work


degree


given


prima


was
was


and


again
from


mate


not


qualities


The


the


nia


, once


initial


start


but


they
state,
had


And


self-evid


end.


ent,


ere


are


ess


county
state.


commonest
gation of
androgyny,


human


eculations


them


are


life
its


qualities a
s divinity.


the


the nature


reflected


eas


immorta


lity,


spirituality


res


its d
perman


end-


esignations


ence


The


(prolon-


incorruptibility),


and


corpor


emblance


man


reality, its
homunculuss


Since


alchemi


sts


make


clear


their


writings


that


opus


alchymicum


to be understood


as a spiritual


discipline,


may


seem


puz


zling


that


they


should


have


felt


compe


lied


remain


laboratory,


maintaining


sometimes


point


exhaustion


a prayerful


and


studious


vigil


that


could


alchemi


part


often


was


the


ast


experiencing


procedure)


years.


and


describing


his

the


Jung


shown,


writings

emotions


necessary


associated


with


ques


t for


psy


chological


wholeness


, and


expansions of


consciousness


which


achieved


he naturally









The


alchemist


did


not


practice


his


art


because


believed


point


on theoretical


that


had


grounds
a theor


in correspondence;
y of correspondence


cause


eas


experienced


sica


presence


matter.


pre


therefore


-existing
inclined


assume


that


real


root


of alchemy


to be


sought


in philosophical


individual


working
certain


the
Since


on his
psychic


particular


e


unconsc


was


ious


investigators.


chemical


experiences
behaviour of


a question
f the fact


that


the


than
mean


projections


by
the


this
oper


that


ator


while
had


to him


proc
was


ess.
naturally


had


nothing


to do
know


property o
periencing


with


matter


today).


matter;


was


his


(that


He experienced


but
own


what


with


his
was


unconscious.


proj


matter
section


as a
ex-


In a brilliant


ess


entitled


"The


Psychology


the


Transf


ere


nce"


(1946) ,


Jung


demonstrates


, by


annotating


series


symbolic


woodcuts


contained


Rosarium


Philosophorum


50),


fact


that


"alchemy


describes,


not


merely


in general


outline


but


often


most


aston-


fishing


can


detail,


ser


same


psychological


analysis


phenomenology


unconscious


which


processes.


speculates


that


even


as early


the


sixteenth


century


alchemy


was


being


used


at 1


east


some


physicians


as a


psychotherapeutic


method


in exactly


the


modern


sense:


Every
when


thing


that


analysing


most


doctor


discovers


unconscious


way


his


with


patient


content


coincides
these


pictures.


This


is not


likely


to be


mere


chance,


cause


thus
like


logical


had


ample


Paracelsus
well-being


were


opportunity


, they


their


worried


often


such
about


doctors


as well,


eir


dreams


(for


the


purpose


>f diagn


osis, p


rognosis


in phy


less


doctrines


experiments


which


the


appeared


chemical


of projection,


itself


experience


in reality
50


be ob


remarkable


experiences


chemists


patients


experiences
the psycho-


inquired


into


--









Anyone


who


approaches


Jung


theoretical


writings


with


broad


knowledge


alchemical


literature


will


be somewhat


startled


extent


to which


analytic


Jungian)


psychology


a continuation


Medieval


Renaissance


esoteric


alchemy.


Ani


ela


Jaff


points


out


that


was


larg


corres


pondence


between


the


alchemical


texts


and


discoveries


concerning


unconscious


that


made


possible


him


to hammer


psychology


into


objective


science


To credit


Jung


with


"rediscovery


alchemy"


twentieth


century54


mere


to state


a fact.


remains


examine


the


exact


phenomenology


the


individuation


alchemical


process


allegory


as depicted


order


a character


to establish


stic


procedural


basi


for


psychological


interpretation whi


ch will


appli


to Spen


ser


s Faeri


Queene.


The


following


parable


taken


from


Chapter


VI of


Open


Entrance


to the Clo


ace


King,


" by


an anonymous


"lover


truth"


known


as Eirenaeus


Philal


ethes55:


thou


knowe


st how


to moi


sten


this


dry


earth


with


own


water,


thou


wilt


sen


pores


the earth,


this
work


thie


ers


admixture


leprous


fluid,


and


Knight


f from


outs


wickedn


true


and


ilt


filth
thou w


Trevi


,,:~,V


will


ess


and


Sulphur,


from


the


have


, whose


cas


t out


the water,
will be cl


superfluous


power


n;,


waters


are


with


from
sical
t of


means


drop
foun


rightfully


4-1-.4n


A-~A 4


nrrn t


i-q













of the thief,
avoidable. He
knoweth how to


will


temper


whose machinations


re may


are


truth


Diana be propitious


tame wild


beasts,


the malignity


whose


air with


un-


thee,


who


twin doves
their wings,


so that
pores,
earth,


the
and


the waters


the darkness
be scattered
Thus by God's


youth


eas


instantly
rises up
uo even t


that was


entereth


shaketh


a dark


ul~of


in through
foundations


cloud.


brightness o
the face of


spirit moving


command


shall


over


thou wilt
the moon,


the deep


wa


Light appear.


lead
and


shall


iters.
56


Jung,


in Mysterium


Coniunctionis,


presents


a detailed


analysis


this


particular


parable


to show


how


knowledge


symbolism of


alchemy will


enable


one


apply


same


principles


nhnn:4n -niJ7.


allegory


as one


applies


dream


interpretation.


Freud


pointed


out


that


dreams


are


so highly


condensed


that


their


latent


content--what


terms


"dream- thoughts"


--may


occupy


"SIX,


eight,


a dozen

manifest


times


as much


content


space"'


dream


when e n


5,ritoil


;:self


down


certainly


the

this


hold


s true


Philale


1tie


s alchemical


parable,


which


requires


twelve-page


explication.


What we


have


here


a recipe


psychological


wholeness.


adept


able


understand


the directions


follow


them,


he will


succeed


"reuniting"


separated halves


psyche--the


conscious


and


unconscious--and


wholeness.


thus


Alchemical


restore


thinking


himself


implies


prelapsarian


intuitive









animal--


, and


that


what


has


happened


that


one


mind--the


conscious--has


wrongly


asser


ascendency


over


the


other,


greater


mind--the


unconscious--


, thereby


splitting


psyche.


this


way


that


alchemy


regards


man


"house


divided


again


st itself


this


context


possible


psyc


see


hologically


Biblical


accurate


story


account


Fall


as a


primordial


split


whi


ch occurred


human


psyche.


Man


therefore


fallen


creature


who


must


be red


seemed,


must


"born


again


the


spirit,


" i.e.


unconsc


ious.


Redemption


then


psychologically


healing


split


psyche,


the reintegration


parts


into


whole


that


sted before


Self,


and


Fall.

means


Chri


therefore


which


individuated


divine

man


becomes


what


Paul


refers


the


"second


Adam.


Thus


alchemis


took


upon


thems


elves


, by


means


"royal


provided


art,


to divide


nature--into


natural


component


man--the


elements


and


raw


then


material


create


a new


synthesis


which


would


be comparable


psycho-


logically


perfect


hermaphroditic


first


man.


Jung


s explication


Philal


ethes


' parable


is so


crucial


assumptions


underlying


this


study,


that,


though


shortened


considerably,


mus


t nonethel


ess


quoted


at a length


that


may


at first


seem


excess


ive.


The


w










unconscious;


stagnation


earth


"own


which


water" is


occurred,


adept


couple


ed with


s awareness


a desire


the


fulfillment


spiritual


possibilities


implicit


his


personality;


"pores


earth,


" which


have


become


clogged


means


which


underevaluation


unconscious


unconscious


content,


, are


permitted,


filters


into


consciousness


and


fructifies


"true


Sulphur"


is potential


spirituality,


and


opposed


"leprous


filth


and


superfluous


dropsical


fluid"


which


contagion


collective


thinking


that


corrupts


individual


and


reduces


him


level of


mass


man,


or crude


Sulphur.


Here


Jung


s explication:


The


unconscious


demands


interest


own


sake


exis


wants
tence
should


to be


accept


oppo


come


ed for


site


terms


what


acc


with


it is


Once


ego


demand


can


Unless


content


given...


unconscious


is acknowledged,


comp


ens


atory


effect


is not


only


nullified


but


actually
to realize
The


changes
e itself
fountain


into


literally


opposite
y and co


Bernardus


then


tries


ncretely.


Trevi


sanus


bath


renewal....


continual


flow


ever
inter


-flowing


est


fountain


toward


expr


esses


unconscious,


a kind


constant


attention


religion ,


" which


might


also be called


contents
easier,
balance


nymph
the f


into
and t


devotion.


The


consciousness


his


in the


this


igure


long


bound
run.


spring


crossing


thus


to benefit


Diana


an exce


we know


anima


llent
. If


made
the


unconscious
considerably
psychic


numen


formulation
attention i


dir


ected


unconscious


unconscious


will


yield up its
the conscious


The


-: --


-I


contents,


like


thief..
^! ^ f I _


and


a fountain


. perso
^-r- -^ -


nifies
-_ r ..


turn


of living
a kind of


-! -.-~


will


fructify


water....
self-robb


-


11-


ery.
- 2 ._-! 1


m





__









"Ar
strong'
Lexicon
"hermaph
are unit
is there
"Luna, o
Here ars
arcane s
feminine
moon and
its sola
poisonous
always p
*


see

thi
the
the
his
mys
ual
and
sta
the

tha
spr
zat
of
men
mak
his
stu
sou
of
mig


pec
bee
n un
Th
ef i
oth
spi
rel
tery
Mer
fle
ndpo
mor
Th
t is
out
iona
the
t of
eshi
sou
Itif
1 ca
his
ht a


what the
human li
between
alchemic
conflict
We
"central


senic"
and wa


shows
rodit
ed.
fore
ur Ve
enic
ubsta
. Th
the
r aff
s and
points
liar
part
er tw
s is
cent
r asp
it of
tion
of th
urius
s "shh
nt of
over
sky
winge
ings.
thin
inged
colle
ts an
does
catio
and
ivinca


bru
s th
are


re.
the
al
ing
lea
wa


or:
s e,
T1


e,
It
cal
nus
is
nce
is
cru
ini
co
to
nat
ly
o d
wha
ras
ect
in
to


- J


igin
ssen
here


th
ha
le


no
but
brin
de s
ty.
rros
the
ure
acce
iffe
t ha
ted
, or
ner
the
sych
s ob
erin
e in
erin
del
n th


not


n.
mus
so
tal
e a
ca


i t
ty
e-o
led
ur
and
ge
ogi


n that
er." TT


all
tia
ar
lean
omm
un
phu
nge
is
s i
ml,


-I-


e

c


y
11
se
s
un
an
r'
r


he
t
ur


meant
y an
nic i
where
ion w
-Sk


a
s
t:
rd
d


S "SU
e. B
rinci
ows i
ed an
nt th
happe.
th th
person
uth wl
ss bu
Thi
ously
from
r man
that
ate y<
psych
dies
mass


s a
eals
ions
e no
life
elop
set
f co
d dr
whi
ext
the
ust
s.
e wi
s is


'masculi


arcan
s def
by Su
ith b


S.


Moon."
company
he masc
maphrod
angerou
so tha
Iphur's
because
pal unc
n what
d partly


ngs
ed
wi
fie
ich
by
wi
awa
the
is
f t
uth
or
rom
tat
her
ich
r b
ncr


nge
th


C
th
on
re
y


um,
ined
lphu
oth
Or a
n" a
ine
ic a
y cl
arse
ompa
e ar
scio
lati
reje


our


nged
s the
means
his
nged
re of
crud
the m
he ou
stan
that
the
istic
one
are
are e
can s
e soi
has o


I oppose
fought
obvious
spirit,


today w

d youth
e fount


ne, manly,
as Ruland's
as an
r and Mercu


]


tex
uth
tru
es
lat
uth
is
sul
e t
r m


* .
an
1
st
e
in
y
ov
ic
te
ou
ly
ex


n


ures
nic
the
ect
even
to
los
n" i
e su
cont


t:
, wh
e su
man
ion
(th
own
phur
hrea
an i
r ev
d li
n of
The
the
othi


ence
him
whi
the
erwh
tion
s, n
t in
the
pres


e express


ry


and
is
"soul.
of the


the
es
t i
bst
ent


the
o repr
Iphur,
not' by
to the
e spir
weakne
. The
tened
s.
erythi
ke to


nat
rse
nd
asp
nd
ose
nic
nio
can
us
on
cte


esents
,i


it-
ss


from
ch his
mystery
elming


ma
eve
str
ed
it


is espous


tter
ry
uggle
in



the


the


s
ance

ntent


*
I


L









medicine


the
wil
"mo
alw
sea
awa
of
uni
be
wit
apo


hi
1 b
the
ays
led
y.
the
te,
one
h t
cry


second
union


d


T
"u


appea
proje
logic

dark
the n
his m
belon
but a
espec
be ve
in id
thief
chast
lurki
new m
himse
is so
see h


he
ph
c
of
he
na


r.
cti
all
Tho
sid
ew
oon
gs,
Iso
ial
ry
eal
th
e D
ng
oon
if
sh
ims


catholica,


ist, t
)me re
>f mor
.ke ca
n ord
ae con
'niunc
.ght i
.nd th
femal
,1 say
Intury
oppos
"mach
,oidab
Irama
ght.
ent r
the g
what
.not 1
il ca
inevi
thout
thief
*ality
Says
Incre
>n of
, lead
.gh it
:. the


1



e


on.
ride
or t
ttra
if
trac
tic
hin
na,
the
and
the
king
f in


h
a
t
r
e
t
t
s
e
e
i

i
i
1
o


e m
1 o
al
e t
r t
ent
io,
we
ou
ne
ng
is
tes
nat
e. "
f o
Rea
cip
ilt
s g
ad
not
abl
pay
in
it
al
sin
he
to
is


re
Ne
an
he
ct
it
tiv
gar
der
but
id
his
ro
th


una


sal
eci
he
II


Sth
ent
ies
ich
'ith
as
mal
us
a


sha
th
not
s .
ert
he
ppo
ne
s n


S o
hey
sit
r, h
for
wh

br
er
ompt
fo
te:
mer
ths
syc
3 fl!7


e


it and


pro
said
. so
eles
ce t
ites
north
t sc
d mo
sten
you
eali
outh
f fe
the
e no


puts


f
a
es
ow
ia
at


us,


etc.


ous in po
can unit
... The a
e Hermeti
what is
"fixed" t


t
e
f
P


the
day,
he i
nor
romr
'arad


the
re


thi
an i
ust
r, c
itab
evi
ause
ome
ted


the
. B
Lun
ust
el w
from
the
posi
two


hr


extreme
and "
inside,
femal
the be
igm fo


best,


ut h
a, t
their
ell
fly
mys
tes
shal


e
he
before

ing
tery


and the male
e." This
ginning of the
r the alchemical


our


ntegra
as the
annot
ility
1 any
of th
as qui
once a


of life

armed w


m
s
h


th
hu
ogi
nd
lem
tha
eth
th
e d
not


er.
ruti
st o
sibl
th i
ty t
and
ar i
comrn
ble-
the


e


and


ith


ego


man
cal
this
of
t Lu
ing
e wi
arkn
onl
We
nize
f al
y it
n hi
he e
in
s th


text
art
adow
n th
s no
e th
the
y as
for


says,
of the
belongs
is into
t
an the
winged
he would
all;


is not


all
its
beg
hi
n k
on
oni
spi
uth
whi
one
>w t
los
it


r
e
h

C


mon
mind


blame


evil,


shad
in to
nders
nowle
of op
fies
cious
love
ch sh
anot
hat e
ely,
appea
cked
the
eady
ss of
t dis
This
annot


on the wiles


ow


the
dge
posites
the
about


S
e
he
vi
ca
rs


the
cover
role

of


:


.

)


i









propit
bride
in the
appear


asp
the
tat
of
Gho
Fro
to
mal
att
a d
man


ec
ri
io
in
st
m
re
ig
ac
ua


T
t
O
n
n


ious
and
way
qui
he t
of
morp
fro
ocen
and
his
rese
ity
, fi
isti


to him,
it has y
of wild
te insig
ender pa
the same
hic symt
m above
ce and c
Sapienti
context


n
o
r
c


le

In
i

)0
d
If
wa
w


it i
the th
from


to
nim
fic
of
nst
wo
wnw
mar
of
ca
th
ef.
ne


being


she is
be see
als. P
ant by
doves
inctual
uld be
yards "
ital lo
Christ
n see w
e exact
Toget
side an
e more


being
n wha
ossib
compa
is an


considered


she
the
son.


has t
thie


y, t
pabi
. Th
as
nd h


th
unt
th
hen


res


trlctea


cons


*-S


as a
o present
f will

harmless
itself the
nterpre-
e emblems
the Holy
Mother.
intended
the


ent the
other, of
ciousness


It
for
t on
, th
after
-by-
ude
this


outside
between
that the
precondi
Onc
evil con
wings ca
consumma
spirit a
of oppos
word the
fulness
be annul
an allus
resurrec
humdrum
soul mea
is at on
Thi
felt as
and anti


of an


obvious
od and
nd then
inner i
another


hem,
oppo
ions
the
eque
emb
ion
d th
tes
long
f ex
ed i
on t


unspoken,


a moment


s.
n
s.


of
half


evil
oth
nver
n re
ne-a
know
rabi


psyc
ity i
e mit
e ear
nhiero
tuali
oncil
act o
, the
The
t's d
the
tence
last
d and
an in
ealit
a fut


O
Us


r:
ed t
lity
ter-
edge
mor
nd e
cau
ble
iner


iga te
th.
sgamo
zing
iatio
f red
orig
earth
escen
other
of m
penet
upli
tuiti
y. I
ure c
*


-conscious


f s
ual
the
o g


U


preme


ly,
go
ood
hap
the
th
iff
ar
in
far


icable


ered,
too,
or now
, the
f the


sinf
and
we
"ear
heart


the
ion w
diss
*


Ke is
nto h
nd a
into
ed, a
d.
exper
s the
ition


union


e
s


di
he
oc
on
11
ha
wh


uln


p055


oweve
man
.. Th
ning
is a
side-
ult p
spirit
he co
han t


lities
t is
umbs to
eeming
vents
able
ide,
em.
forces
ct
night


indispensable


ess


that w
come t
thing"
h, the
vided,
reby t
nation
the o
and h
king o
ose li


hi
O
o


he

ne
is
f
fe


which


its
has


the
f the
union
n a
sin-
will
hand


the
and
he


ience that is
prefiguration
, a glimmering
f ego and non-


i


I


i









imag
at f


e


tells


irst
of ma
ribab
the n
emons
enia.


uphe
n to
le,
ame
trat


that


the


aval and d
the whole
is an intu
"Anthropos
es the con


wide
arkne
man.
itive
" is
tinui


ning
ss,


then


conscious
a broad


This "Man," b
or "mystical"
therefore very
ty of this idea


sness is
ening
ing in-
xperience,
pt because
over the


...Le
turns towa
complement
The e


dange
where
the g
spirit
forms
consc
but s
of th
is no
this
the "
from
from
into
"ligh
the a
fourth
every
deity


r of
the
loomy
t now
it.
ious
ometh
e unc
long
paves
ilium
now o


ne c
" th
chem
r st


one


adin
rds
of
ye t
evil
ethe
dee
mov
Whe
not
ing
onsc
er s
the
inat
n th
What
onsc
at s
ists
ep i
of t


g
th
th
ha
I


r


the


tur
eal
ca
s i
CO
nly
f i
ous
re:
way
on"
un
hap
ous
,ine
th
th


hese


water


eni
nis
the
to
eal:
be
fro
cio
oes
li
Th
te
or


steps


upwards


unium,


new
saw
ds th
f the
t to
within
ess d
rece
pene
esult
s tra
event
uncon
s is
that
e eas
end
denin
ation


th
mo
on
e
i


tS
ly
s t
of
of


signifies


means


gra
an<
th
rcl
ort
own
nvu
ne
a d
es
tha
and
uni
us
un
con
tha
he
co
the


that
ious
its
dark
of t
1 beg
devic
ses a
r to
vasta
nto t
the
terri


s n
sci
ts
efo
mo
iou
thr


a rebirth


and
per
nes
he
ins
es,
nd
the
tin
he
unc
fyi
atu
ot
ous
cro
re.
der
sne
opo
of


now
seren
ils.
s and
moon,
, and
for t
trans-
un-
g shock
darkne
onscio
naQ, an


na
ss,
s,I
St


e




he


k
ss
us
d


that
ar
ver
e
f
a
nd


Since


Philalethes'


parable


typical


genre,


shall


have


frequent


occasion


to refer


back


to Jung's


explication.


Jung,


discussion


relationship


between


Stone


Christ,


points


out


that


alchemical


opus


was


sometimes


thought


"a parallel


and


imitation--


perhaps


tion.


even


a continuation--of


Alchemy,


says,


divine


work


drama


of redemp-


human


psyche









The fir


formulation


is Christian,


second


alchemical.


case


to himself


and


man


leaves


attributes
the work o


the


need


f redemption,


redemption
the


actual


the


latter


opus
case


to
man


the a
takes


utonomous


upon


divine


himself


figure;
duty c


carrying
state of


out


eeming


suffering


anima


mundi


and c
impri


ons


attributes


opus,
equent


soned


need


redemption


in matter.


The


alchemical


and


Chri


stian


drama


are


contrasted


thus:


The


alchemical


darkness


drama


eads


earth


from


the


below


winged,


upwards,
spiritual


from
filiu


the


macrocosmi


and


the


modern;


Chri


stian


drama,


on the other


hand,


repre


sents


the


descent


Kingdom
a mirror


of Heaven


to earth.


-world,


One


God-man


has


the


coming


impres


down


sion


from


above
dark


--as


Gno


waters


stic


Phy


l e end -wer e


refle


cted


S5S


distinction


between


concepts


of redemption


Jung


says:


Wher


eas


the Chri


stian


belief


that


man


freed


from


sin
was


the


redemptory


evidently


act


the opinion


of Chri


that


st,
the


the alchemist
"restitution


eness


original


and


incorrupt


nature"


had


still


to be
that
comply


accompli


Chris


shed


s work


the art,


and


redemption


this


was


can


regard


only


mean


in-


ete.


But


final


analyst


the


negative


characteristics


Mercurius,


who


cons


titutes


the


substance


lapis


philosophorum,


that


account


the


principal


heresy


alchemy:


In compare


son


with


the purity


and


unity


the Christ


symbol,
doxical,


Mercurius


and


-lapis


thoroughly


ambiguous


pagan.


, dark,
therefore


para-


repre


sents


a part


by
the
it


p


Christianity


symbol
points


syche
and


which


can


"Christ.


devil.


L- &.


was


on no
the
who i


certainly
account be


contrary...


s known


not


moulded


express
in many


times


ed by


way


to dis-


.


L_


A









It should


pointed


out,


however,


that


since


the


alchemists


were


formulating


way


paradox


intuitive


concepts


beyond


grasp


conscious


und


ers


standing,


they


were


often


unaware


the hereti


aspects


what


they


were


doing.


a way


alchemy


can


seen


as an Eccl


esia


Spiritu-


alis


, owing


allegiance


to Chri


alone


, and


in some


respects


at odd


with


doctrine


Chri


stian


church.


The


chemi


were,


however,


experiencing


as a personal


reality


archetypes


basi


Chri


stianity


The


result


that


most


were


fervent


and


enthusi


astic


Chri


stians


eas


their


own


eyes.


Thus


writer


the


"Sophic


Hydrolith"


draws


own


parallel:


... the


not
Him


mere
self,


forth,


Art


prac


marve


in all


in a wonde


unspe


rful


enabi


Nature,


akabl


manner,


to und


but


glory


how


ers


nature


tand,
of God


It shadows


man


image


the
and


mos


t Holy


the Oneness


Trinity,


Substance


essence
es in t


hat


the Holy
Trinity,


Trinity,
as well


diff


erence


of Persons


; the


Incarnation


the


eco


nd P


Death,
Happin


from


person


the Holy


Resurrection;


ess


won


original


Him


Trinity,


Exaltation


us men;


sin,


sence


also


Nativity,


and


our


of which


the Ete


ssion,
rnal


purification
purification


all good
in brief


actions


all


men


would


articles


vain


the


and


void


Christian


--and,


faith,


and


reason


why


man


must


pass


through


much


tribulation


and anguish,


fall


a prey


to death,


before


can


rise


again
were


a new


life


All


this


we see


in our


Art


in a mirror


Esoteri


alchemy


, therefore,


a spiritual


discipline


which


can


transforms


be described


personality


as self-anoli


through


DSV


a process


chotherao


which


v. Alchemical


m


u









psyche,


and


fact


anticipated


centuries


the


empirical


basis


modern


depth


psychology:


* ..
matt
the
inte
they
them
not
ment
appr
only
curi
beyo

hidd
psyc
this


th
er
hu:
ns
f
i.
th
al
eh
t
ou
nd
So
en
he
d


e


alchemists


, wnic
man ps
ive pr
ollowe
nto a
e remo
labou
ension
he mod
s meth
the g
, alth
struck
, even
iscove


reg
tes
rs
of
est
od
ras
oug
tur
if
ry


were


known
e by w
cupati
his ps
ion th
t conn
consis
psych
role
of res
p of a
h the
e of m
they
meant.


to
ay o
on w
ychi
at,
ecti
ted
ic f
of a
earc
ny p
alch
atte
were
66


fascinate


them
f pr
ith !
c tr
to o
on w
in a


it
ec
tt
1,
w


act, th
famulu
h prove
sycholo
emists
r, they


scarcely


d by t
had r
tion.
er as
which
ay of
chemis
domina
intel
The
, howe
y for
ailed
discov


he


ece
Fo
a c
wa
thi
try
ntl
lec
re
ver
sev
to
ere


soul
ived


r a
onc
s t
nki


of
from


11
ret
o 1
ng,
The
ntu
lay
t o
o b
1 c
cov
hat


conscious


their
e fact
ead
had
ir
itive
ing
f this


e


e
e

w


nturies
r the
of the
'hat


The


alchemists


were


searching


a way


kingdom


heaven,


but


first


they


had


to make


themselves


worthy,


and


this


was


what


Philosopher's


Stone


was


about.


Al-


chemy


therefore,


according


one


commentator,


a pathway


to sainthood:


Those


he po
he wh
iousl
become
piou
perfe
ged i
mes 1
bad s
shed
ined
ht an
illus
among
thh


who


rro
d d
tri
th
Phi


ne
G


I


are


oa;
, mi
he m
gre
od.


pth
us
gi


r

Co
or
nh


I


f t
ho
n,
of
Fl
ton
the
Id,
ay
at
and
Hi
mop
es
cral


fortunate
his high
wever evi
experience
good act
amel affi
e, all th


ace
y th
divi
ite
Her
itnn


ncee
and
e c
ne
who
met
Uc


to have


timab
d vic
chang
depor
that


t is ba
sin is
ligious
been, h
mercy w
ntempla
nd admi
e high
c histo
nnhi narr


d
U
a


le
iou
e o
tme
whe
wi


roo
God
is
ch
on
ble
hie
al
1 C=


attained


reassure
they may
disposition,
t.... The
any one
hin him is
ted; he
-fearing;
henceforth
he had
of the
works.
vements
so declares
hllh


* ^


r









they may
equally


be;


it strips him of


of hope and


the violence or


fear;


excess


vain-glory,


it annihilates


desire;


and


ambition and


sweetens


and


softens th
the Adepts
gion.67


e most


our


severe forms of
art next to th


adversity.
saints of


God ranks
SHis reli-


The art


is a pathway


to sainthood:


perhaps


this


is what


Spenser


had


in mind


The Faerie Queene,


when he described


spiritual


transformation of


an uncouth rustic


into a


perfected


Saint George of


England.


This possibility we


will


explore


in Part


Il of


this


study,


when we


approach


Book


I of


Spenser'


poem from


point of


view of esoteric


alchemy,


which,


as we now


know,


was


a psychotherapeutic


discipline.















NOTES


The


collections


of Western alchemy are De Alchemia


(Nuremberg,
Auriferae, 3
(Strasbourg,
Britannicum


1541) ;
vols.


1659


Ars


-61)


(London,


Chemical


1610);


Elias


1652) ;


Strasbourg,


1566)


Theatrum Chemicum,


Ashmole


(ed.)


Museum Hermeticum


Artis


6 vols.


, Theatrum Chemicum


(Frankfurt a.


M., 1678)


: Joannes Jacobus


Mangetus


(ed.,)


Bibliotheca


Chemica


Curiosa


(Geneva,


1702),


vols .


Specifically Greek


texts


are


collected


in Marcellin Berthelot


(ed.),


Collection


anciens


alchimistes


grecs


(Paris,


1887-88),


vols.


For


bibliographical


information,


see


Henry Carrington ,Bolton,


A Sel


ect Bibliography


Chemistry


1492-1897


(New York,


1966-


67),


Denis
1965)


vols.


(the


Duveen,


; John Ferguson,


last


two


volumes


are actually


Bibliotheca Alchrmia et


Bibliotheca


Chemica


Chemica


(London,


"supplements");
(London,


1954),


vols


Dorothea


Waley Singer,


Catalogue of


Latin and Ver-


nacular


Alchemical 1


MSS.


in Great Britain and


Ireland


dating


from before


16th


Century


(Brussels,


1928-31),


vols.


also


the History


bibliographies


of Science


of George


(Washington,


Sarton,


1927-48),


Introduction


vols.


5 parts;


Lynn


Thorndike,


A History


of Magic and Experi-


menta 1


Science


(New


York,


1923-58),


vols.


2The


United
Occult
says t


largest


States
at Yale


ha t


collection
the Mellon


University.
"probably th


of books


and manuscripts


Collection of Alchemy


Ian MacPhail,


finest


collection


the


and the


bibliographer,
)n of alchemical


manuscripts
description,
Manuscripts


existence"


see


(Ambix,


Ian MacPhail,


XIV


(1967),


A Catalogue


from the Collection of Paul


198)


of Books


For a


and


and Mary Mellon...


(New


Haven,


collection


1968),


vols.


s in storage and


For the moment,
(according to


however,
Professor


the


Dewey


Faulkner


at Yale)


will not be


access


ible


for public


per-


usal


until around


1976.


sel,








work


to C.


Jung's


Mysterium Coniunctionis


(see


below.


Other


important


editions


are


those of


Julius


Ruska:


Buch
1905)


Alaune


"Die


Salze


speciebus


Vision des Arisleus,


salium)


" Georq Sticker


(Berlin,


Festschrift:


History
schaft
(Bruge


berg,


ische


Studien


(Berlin,


XXIV


1926);


1930)


(193


Turba


Skizzen
"Studien


5-36),


Phil


310-42


osophorum


zur Natur-
zu Muhammad


Tabula
(Berlin,


und Heilwissen-


ibn


Umail,


Sma raqd ina


1913).


The


" Isis


(Heidel-


follow-


editions


or translations


have appeared


in Ambix:


Jos ten,
treatise


"Truth's


Robert


Golden Harrow:


Fludd,


SIII:


an unpublished


(1948-49),


91-150;


a chemical


trans-


lation of John Dee's


with


Monas


an introduction and


Hieroq lyphica


annotations,


" XII


(Antwerp,


(1964)


1564)


, 84-221;


and F.


Sherwood Taylor,


"Translation of


Visions


Zosimos'


(193


7-38)


88-92;


"Translation of


alchemica i


works


of Stephanos


of Alexandria,


Part


(1937-3 ,


116-


Part
been


11,11I


1938-46),


translated


into


38-49.


English by


The Musaeum Hermeticum


Arthur


Edward Waite:


The


Hermetic Museum,


Restore


d and Enlarged


(London,


1893


and


1953),


vols.


4Besides


the many works


of C.


Jung


see


7 below),


reader


should


consu lt


Burland,


Arts


of the


Alchemists


Power,
1964);


(New York,
155-182;


Holmyard,


1968),


especially


Eugene Canseliet,


Alchemy


"The


Words


Alchimie


(Edinburgh,


1957)


(Montreux,


Jack


Lindsay,


The Origins


of Alchemy


in Graeco-Roman Eqypt


(New


York,


1970).


dispensable:


following


John


Read,


an older work,


Prelude


but


Chemistry:


still


An Outline of


Alch emy,


Literature and


Relationships


(New


York,


1937)


5For


neuerer


Forge and


example,


Zeit


Herman


(Hildesheim,


the Crucible


Kopp,
1962),


(New York,


Die Alchemie


vols.
1962),


in alterer und


Mircea
. 142,


Eliade,


warns


The


that


alchemy
writers
Chimie


regarded


of such


class


au Moyen age


as an embryonic


sic works
(Paris, 1


stage of


Marcellin


1893),


vols.


chemistry"


Berthelot,
Edmund von


La
Lipp-


mann,
1919),


Ents


tehung und Ausbreitung der


(Berlin,


1931),


Alchemie,


(Weinheim,


1954);


(Berlin,


Julius


Rusk


(see


York,


fn. 3


above)


1949);


Die Alchemie


Sherwood Taylor,


John Read
im Mittela


(fn.
Iter


4 above)


The
and


(Paderborn,


Alchemists


(New


Ganzenm'uller,


1938).








Jung,


Mysterium


Coniunctionis,


The


Collected


Works


was


. G.


first


public


Jung,
shed


Vol.


XIV,


German)


2nd


(New


1955-56


York,


; Psychology


1970),


a nd


chemy,


Coll


ected Works,


Vol


aXII,


2nd


. rev.


(New


York,


1968


rence,


Vol.


was


published


" The


XV I


Practice


rev.


(New


1944;


Psychoth


York,


"Psychology


erapy,
1966),


the


Collected


Trans-


Works,


is a preliminary


study


psychothe


coniunctio,


first


rapeutic
published


problems


1946


; Aion,


terms
Coll


the alchemical


ected


Works


, Vol.


2nd


(New


York,


1968),


first


published


1951,


contains


ese


essays


"The


Alchemy,


" "The


Alchemi-


erpr


etation


the


Fish,


" "Background


Psy-


chology


Christian


Alchemical


Symbolism"


Alchemica 1


Stud-


les,


Collect


ed Works,


Vol.


XIII


(New


York,


1967),


contains


the


remainder


Jung


s alchemi


studies


"Commentary


The Secret


Golden


Flower"


(1929),


"The


sons


mos


" (19


38/


1954)


, "Para


sus


as a Spiritual


Phenomenon"


(194


"The Spirit


Mercurius"


(1943/19


54),


and


"The


Philo-


sophical


Tre


e" (1945/1954).


erard


Heym,


"Review


of Mysterium


Coniunctionis,


Ambix,


(1957-58),


9For


example,


Alexander


Wild


er,


New


Platonism


and


Alchemy


(Albany,


1869);


and


M. A.


Atwood,


Herm


etic


Philosophy
Suggestive
anonymously


Alchemy


Inquiry


Into


(New


York,


1960)


the Hermetic


a re


stery,


-issue


The


published


1850.


10Martin
Martin


Ruland,


A Lexicon


Alchemy


(London,


1892),


393.


11Jung,

12Jung,


XII,

XII,


39-224.

117.


13C.


. Jung,


"The


Relations


between


the


Ego


and


Unconsc


ious


" Two


says


on Anal


tical


Psychology,


Coll


ecte


d Works


Jung,


Vol.


'VI I


(New


York,


1953).


and
'C/-'


14M.
His


von


Franz,


"The


Symbols,


Process


Jung


(New


Individuation,


York,


1971),


" Man


159-







16Ruland,

17Waite,


435.


18Jung,


XII,


334.


9Erich Neumann,


"Mystical Man,


" The Mystic


Vision,


Papers


from the Eranos


Yearbooks,


Vol


. VI


(Princeton,


1968),


380-386.


20Joseph


Campbell,


Creative


Mytholoqgy,


The Masks


of God,


Vol.


(New York,


1968),


4-8.


21Ernst


Cassirer


,Mythical


Thought,


The


Philosophy


Symbolic


Forms,


Vol.


(New Haven,


1955).


Jung1


The Archetypes


the Collective Un-


conscious,


The Collected Works


of C.


Jung,


Vol.


(New


York,


1959),


Jung,


IX:1,


4-5,


66-67,


155.


24Ruland,


381.


25Waite,


26Waite,

27Waite,


28Waite.,

29Waite,

30Waite,

31Waite,


316.

72.

139.

162


32Aurora


Consurgens,


47-49.


3cf.


Richard Wilhelm and C.


Jung,


The


Secret of the


Golden Flower,


- -


trans.


1962.


by Cary F.


For Junq' s


Baynes


(London and


commentary,


see


New


also


York,


Vol.


1931),


rev.


22C.








35Jung,

36ung,
Jung,


XIV'

XIV'


37Jung,
(Luna); 183-


XIV,


(Sol);


110-


(Sulphur);


129-


(Salt).


38Jung,


XIV'


cites


Theatrum


Chemicum,


I111*


39Jung,


XIV,


210.


40The


full


Psychological


ypes


expos
(New


ition
York,


to be


23).


Jung,


found
Jung,


theory


psychological


conscious


mind


types


, has defin


takes


ed the


hearings


functions
thinking,


whi


ling,


sens


action,


intuition


The


first


two


defines


rat


iona


and


the


last


two


irrational.


41Engli


translation


Steel


and


Singer,


quoted


Holmyard,


Jung,


XIV,


184-


185.


43Jung,

44Jung,


XIV,

IX:2,


Ill.

8 f.


In alchemy


we are


ling


exc


lus ively


with


masculine


psychology,


mas


culine


but


and


corres


would


pond ing
termed


archetype
the Animus


a woman


See


Jung,


would
IX:2,


46Jung,


IX:1,


47
Jung,


XIV,


241.


48Quercetanus,


Theatrum


Chemi


cum


SII,


cit


Jung


XI ~II


239.


terms


are


defined


Ruland


s Alchemical


exicon


thus:


CALCINATIO


"When


matter


like


snow-white


calx,


full


fire


and


the water


thirst.
therin.


And


this


He di


Dragon,


bur


who


drinks


. Thi


-~~ .


1


.%


r t r 1


q


q








SOLUTION: "The
bodies of
attenuated
among arti
process.
generic na


first pa
coagulat
. There
sts the
Sometime
me. Sol


rt of Practic


sub
re s
rm i
each
ion


Liquation, and Segregati
Calcination and Dissolut
SEPARATIO ELEMENTORUM: "Much


aration of the Elem
There is simply an


from the impure
the pure Essenc


the El
ABSCES
divers
tion,
CONIUNCTIO:
and wi
the fi
the fe
and of
ment,
means
of the


The&
and
Lioa
The
bec
the
ful
tha
the
con
mak
the
of
cal
whe
fem
thi
anrl


ements has
SUM: "Sepa
e nature mu


fe
rs


d de
"Con
. S
t of


rme
th
whe
of
co


ophra
the
n can
Red
ome r


S


woman
then
the w
bath o
emotion


ng
for


th
m,


the un
cines
n the
iinne
rd sub
rnmme


part
jugi
ome
the


as
is
be
ra
tu
in
m
ay
sp


and th


subj


n th
the
ngea
tus
lood
beco
,ion
Sd.


e
wa
le


st
0
me
be
Se


appro
they
oman
f the
. Th


e ma
as
ion
and
matt
seed
stan
nriSe


tt
th
is
ir
er
c
ice
a


ect.
red m
ter.
d spi


ates
f th
the
come
cond
ache
must
may


ents,
alter
when
pres
en ac
tion
ally
oppo
is Co
that
irit


ston
But
lan a
The


stanc
ever
s app
part
is of
on or
ion"
has
yet
action
an A
erved


complish
by Remov


break


a


site di
pulatio
there
and the
e, the
here w
approach


w
r
n
a


al Chemi


s a
di
led
cul
two
Sep
p.
een


no
wh
Iko


re dis
stinct
more
ar spe
kinds
aratio
296).
said


stry, whereby t
solved and
species, but
commonly to one
cies takes the
: Melting or
n. otherwise


ano


such thing
ich separa
1 is const


Then


ed


I'


al is
ay fro
section
, the
re thr
earth,


th
e
es


conjunction


rit with


. When
e White
White E
s white
ly, they
s the ma
be plac
not flee


sea--
e matte
er like
e woman
the ca
iturate
begins
oagulat
. Then
natw. "


t
r


the


the
Eag
agl
in
mu


n; t
ed i
awa
is,
fers


dis
lood
are
and
der


ut


t


tak
tes
ruct


he Sepa
Cf. SEP
when pa
m their
s" (p.
union o
ee kind
the se


r
A
r

2
f
S
C


rd of the me
peak at the
the white wo


s th


solv
of
uni
be
that


t ne mar
he man r
n the se
y, and,
the black
, the fo


r
e
a
1
k
r


ed
the
ted
one
th
ied
nde
led
ast


m


co
bod
Re
, t
wi
e w
al
rs
be
Iv.


ive


h
d


-S -
soluti
works


it; the matter desires aft
after the man. The comment
Icination; then the Mercury
s the bodies; coition takes
to become white; then the


e

n


s;
thi
1


and the
s loses
19 F _


then


er fruit
, in ord
into
on of
itself,


-er
ler


er
cement

place


re arises from both a
its individuality,


he Sep-
es place.
the pure
ed, and
action of
RATIO PER
ts of
conjunc-
91 f.).
the man
of it:
ond of
dicine
commence-
man by
pulation
y, as
d Lion
he Red
th it.
white mav


*


:
-


1


i


I








agency
being
the co
and so
i"


Part
powe
bril
much
elem
we mi
using
of t]
posi
simp
elem
By a
and
putr


cup
and
Put
lim
pla
sha

Sub
hea
the
a n
sec
mil
The
sin.
in
hea
is
bat
COAGULAT
and
the
*


S,
r
li
t


st
t.


exte


aki
mpo
lid
Put
wh
of
ant
4


n


nt
st
0.
e
e


1C
nt
na
ol
fa
"T
S
ut
fa
io

V
"P
an


old
ew n


0
d


nd
th
pur
ing
he
of
ref


of

lu
r


2



I


e el
ary
be (
nly
essei
Subsl
ity,
, anm
tura
idif:
ctioi
here
a mil
refai
ctio:
n of
n the
inegi
utre
ce o
It i
, or
atur<
gene:
ereb
e is
to
vess
the
erab
dew
"Co
tid c
educ
-.9 U


to
nt
ies
fac
h h
noi
Ich
eme
com
on
one
nce
tan
th


a
I
S


ag
on
ti
Ct


rnal
its
part
apa
tion
ave
st h
emic
nts
posi
our
tha
s.
ces,
ere
his
>utre


ie
ion
S
lem
dry
, a
cti
the
the
ina
I
tio
an
epa
.e b
., a
lung
, h
(p
ula
s'is
.on
I


heat.


When


this


moist substance
s, preserves it
rt....


is
open
eat.
al o
as t
tion
guar
t sh
Henc
unu
is s


ome
ent
wa
nd
on
ma
pr
1 n
t h


S,
ter
bel
is
tte
ope
atu
as
Co
11
ed
om.
the
3ing
ver
5).
,n i
cy
.o a


the
ed
I
per
he


solution


01
:t
a
c
A


d ag
all
e it
sual
omet
thin
ion
kind
luti
kin
betw
is c
ot w
Cook
of
onas


ut u
is
tion
eles
ccor
a ins
be e
bec
ly r
hing
g is
it p


t
S


under
the


tia
din'
t a
nou
ome


e



r


d
by
>f
Sc
ed
ou

*p
Lly
ti
.e
ocu


th
ime
ve
rs
the
th
el


move
inte
rega
oduc
isso
med
putr
orro
Dry
t re
and
hilo
to


0
a
t


e
mu


tainted


, for


the


n,
ppl
ref
thi
the
iri
"e c
.mpu
mat
st
fo
ves


.s the Condens
of things of
solid state.
I.. U.. -. -- I .


the


pla
d f
rna
rde
es
lut
ici:
efa
siv
an
aso
Sol
sop
the
dis
ica
act
ng,
sa
ts
han
re-
ter
be
,r a


is done, th
is separated
homogeneous


e heat,
from
nature,


Component


solving
*


e
e


mos
s no
from
exp
isso
t th
t in
emen
des
ncum
subs


on is t
e.
tion wh
calcin
Philos
nam A


A.,
uti
her
Su
sol
tio
ion
an
me
bec
ged
-th
mu
put
fi


sel t

ation
the s
Thu


, or
and
ing
of
to d
to
esul
me s
into
lat
t be
into


o be


t
t


C
ta
th
bu
ta


so
hei
ime
tio
esc
om-
1
e
sti
nce


wofold--


i
a
o
i
I


r
nts
n,"
ape


ble.


oc-
on
ical
Sub-
takes
ry
on.


al

uce


Laced
Ing,
Lod.
into


the
It
a


from a tenuous
ame nature, and
s those sub-


I


i


.


1 JLbII


LL








a homogeneous


by many
limatio
ways:
either
'IO: "C
:MATIO:
by mean
Sub lima
also a
splendid
ascends
virtue,
that wh
heights
or the
1NTATIO:
part by


mass, a
immedia
,0


body a:
Mercur-
have t
body.
ophers
perfect
without'
which
with, 1
bodies
EXALTATIO:
AUGMENTATIO
PROJECTION:
Medici,
transf
the pr
substal
however
digest
tion a
by a v


n
b
C
o


other
, dist
y Segr
old or
rporat
"Subli
of Di
ion do
processs
, and
Subl
as whe


CIBAT
SUBLI












FERME


te


* .
nd
YI
ha
F
t


r
rm


r


on
fe
tru
'nve
he
whe
Lit


i
n
e
h


body.


operate
illati
egatio
hot."
ion" (
nation
stance
es not
by wh
excel 1
imatio
n Sol
elevat
hat wh
for t
Exalta
of a f
ates t
the s


rmen
e ma
rts
ston
n th
, th
t fl
ing
ta in
all


ody
omb
11
ch
(r


"Same as
Not def
"The exal
e--which
rmed, by
cess of f
tially by
, in that
on, where
d mixture
olent int
a -1 -Y -r a


Sub
ine
tat
is
a s
erm
ac
it
by


And


ions-
on, e
n and
(P.
p. 10


is
, th
alw
ich
ent-
n me
is m
ed,
ich
hey
tion
erme
here
piri
the
er,
int
itse
ston
whe
ts a
erew
trac
*


atio
n Ru
of
iect


a-


RIk


e
O
i
t
f
o
t


this coagulation is co-ordinated
-devaporation, exaltation, sub-
tc. It is performed in two
Comprehension. And it is
107).
2).


of
e o
ayd
sub
-ye
ans
tade
tha
is
are
of
'nt
fin
tua
phi
whi
o t


receive


two


w
i
1
1
C
h


kin


impr
out
whi
mpro
one.
a Ma
which
n a
nat
OSOD


h
e


is
is
it
er
h,
of
and


p
u
hi


, un
nat
the
SO s
is p


ds--
mea
an
bec
tru
emen
Lun
is
d ma


one
ns
asc
ome
e t
t o


p. ju
r int
netra
uliar


e

r
t


U
r


he manner
e need som
its former
introduce


is
of S
ensi
mor
hat
f qu
and
ve o
e th


eff


ur
on
e
th
al
is
n
e


f


pre
e v
ity
ca
the
hig


its
es th


manner,


rsta
its
eof.
of
s th
ove
f an
oth
affi


o
er
ni


it into


ut
ciou
apou
and
lied


hest


ential
entire
acting


a
ope
Som
per
phi
an
il,
bo
ty


ot


true
r
e will
fect
los-
im-

dy,
there-
her


n
1
a


" (p. 138)
and.
substance


ed over
gressio
n, which
thin it
effect
ferent
n the c
ion, wh
A A a


n. It
h chang
. It.d
ed by m
parts u
contrary
ich tra
L-


a Proj
ter to
orresp
s a ma
offers
ans of
dergo
perfo
s forms


acting


onds to
tter
from it,
a slow
a itera-
rmed
at the


ich is
; but
lowest
"The
means
nd ope


1AA


rr


L
!

!


L


I


.f









Jung,

50Jung,

51Jung,

52Jung,


XIV,

XII,

XV',

XVI,


xiv.

245.

198.

200


3Aniela
G. Jung


Ja ffi,


" A Cata


"The


loque


Influence


of Books


of Alchemy


on the Work


and Manuscripts


compiled


MacPhail,


Franz,


Aurora,


. Hamilton


Philalethes


, Amb


XIII


-Jones
(1965


, "The


-66),


Identity


of Eirenaeus


and Ronald


Wilkin


son,


"A Further


Note


on Eirenaeu


s Philalethes


" Ambix,


XIII


(1965-


66),


3-54


6Waite,


James


'Sigmund
Strachey


Freud,


(New


The


York,


Interpre


1969),


station


of Dreams,


trans.


. 313


Jung,


XIV,


160-172.


"Christ,


Symbol


Self,


" in


Jung,


IX:2,


36-71.


60Jung,

61Jung,

62Jung,

63Jung,

64Jung,


XII,

XII,

XIV,

XIV,

XIII,


375.

306.

103.

34.

241.


65Waite,


, 88.


I v


59
See


54
iron


d~Ef


-














CHAPTER


SPENSER


AND


THE


ESOTERIC


TRADITION


We have


seen


that


recent


trends


scholarship


pro-


vide


justification


regarding


The


Faerie


Queene


as an


esoteric


or magical


poem


requiring


ecifi


cally


Renai


sance


under


standing


the


series


that


series


involved


an exalted


type


of Renaissance


magi


that


achi


eved


results


means


what


today


would


call


psycho-


therapy;


that


realm


Renaissance


magic


rather


than


what


some


criti


have


mistakenly


termed


"Eli


za-


bethan


psychology"


that


the


probable


basi


Spenser


strikingly


modern


grasp


the


psychology


unconsc


ious


must


be sought;


and


finally


that


the


mystery


tradi tion


best


represented


esoteric


alchemy,


which


contains


what


mod


ern


standards


the most


accurate


and


compreh


ens


for-


mulation


psychology


the


unconscious.


The


task


the


esent


esoteric


milieu,


chapter


tradition


esp


ecially


to explore


the


context


impinges


the


impli


the


on Edmund


cations


Elizabethan


enser


cultural


through


such


friends


and


acquaintan


ces


as Sidney,


Dyer,


eight,


Dee








Out


the


surge


creative


energy


which


characterizes


the


Renaissance


concern


the


there


present


emerges


study


theme


: it


which


idea


will


great


of human


per-


fectibility.


Indeed,


the


esoteric


tradition


inseparable


from


thi


idea,


offered


the


means


whereby


thi


goal


could


attained.


The


statement


best


epitomizing


thi


at-


titude


found


the


Asci


epius,


called


The


Perfect


Sermon,


which


contained


the Corpus


Hermeticum


trans-


lated


into


Latin


Ficino


1463.


Here


Hermes


Trismegis-


tus,


Tat,


Ammon,


and


Asc


lepius


enter


God


sanctuary:


...the


four


place


men,


and


was


was


made


holy


filled


pious


with


God


s pr


awe


essence.


the
And


the hear


ers


stened


in fitting


ence


and


with


heart


and


soul


eac


h of


them


hung


the


words


reverence


through


the lips


of Hermes


the divine


Eros


thus


egan


Hermes


has


constellate


arc


etype


the


teacher


or pro-


phet,


and


words


divine


wis


dom


flow


through


him


from


the


collective


unconscious


thus:


It i


rus
who
the


like


that


strives


hear


ers


torrent
in its


to follow


but


even


plunging
swiftness
it, and
the teac


downward


it out
leaves


him


with


strips
behind
,self.2


headlong


the
not


man
only


This


definition


man


which


was


more


widely


quoted


the


Renaissance


than


any


other:


Man i
reverence
attributes


a marvel


to such


familiar


then


a being!


a god,
with


Asc


Man


though


lepius


takes


were


honour
on him
himse


the daemonkind,


and
the


a god;


comes


know


that


he


is sprung


from


the
SJ


same
-A- ^ -^ JL


source


as
-. I- .-


they;
i- B


-- ------- -


A


-. 1-









own


else


being
with


which
which


makes


him


finds


thing


himself


of earth;
connected


and


all


even


ordering,
fiction.


tends


station,
and is 1


binds
raises
earth


ove


d by


to himself
reverent


below.


so placed
all above


of his


eyes


Blest


that
him.


to h
in hi
loves


He ha


even
s inte


above


rmediate


below


access


him,


to all;


he d


esce


to the depths


sea


the keenness


his


thought;


him,


were
trate


and


measures


within


his


reach


the element


hea


ven


is not


it by


h.
air


With


found


sagacity,


his


cannot


quick wit


blind


high fo
though
e pene-


his mental


sion


with


thick


dark


ness


ense


earth


cannot


impeae n
downward


work;


gaze.


water


Man


all


things


cannot


man


blur


is eve


rywhere.


The


"divinity"


which


man


posse


sses


as we would


say,


the


unconscious.


The


the personality


of esoteric


unconscious


becomes


doctrine


is seen


spiritualized.


does,


as a matter


means


The


greater


fact,


which


portion


concern


self with


phenomenon


intera


action


between


con-


scious


and


unconscious


actions


the psyche.


Thi


"divine


tery"


over


which


the


"veil


secrecy"


must


spread.


Seen


thi


way,


Hermes


' words


make


a great


deal


sense:


...our


thought


attains


mental


effort


kind


knowl


edge


cosmic


whi


mind;


corres


and


ponds


having


come


to the chara


to know


cter


cosmic


things,
eternity


to pass
things


furthermore


and


that
of he


supra


we men


aven,


the conditions


we aspire


narrow


bounds


attains


cosmic


see


, as


so far


the human


sight
; but


to a know


gods.
through


this
mind.


things


great


is man


And


dark


edge


thus


comes


mist,


is compatible


Our


power


so high,


are


s happiness


with
when


limited


when


he has
lowly


seen
is our


that


vision.


You
how


see


Asc


lepius


, how
things
I give


r n n T.fl


clkn~


rn3


I









Another


book


from


the


Corpus


Hermeticum


which,


like


the


Asclepius,


helps


define


the


Renaissance


concept


man


The


Poimandres


Hermes


Trismegistus


It is


significant


that


this


a dream-vi


sion


: Hermes


' "bodily


senses


had


been


put


under


res


traint


sleep"


and


sees


Poimandres,


Being


vast


and


boundless


magnitude,


" who


is a personifi


cation


the


unconscious.


Hermes


tell


Poimandres


that


"would


their


fain


nature,


learn


and


the


get


things


know


that


edge


are


God.


, and


understand


Poimandre s


replies


that


know


what


you


for


indeed


am with


you


every-


where,


" and


offers


teach


the


dreamer


what


he wishes


earn.


What


follows


a dramatic


description


the


logos


sing


out


"archetypal


form"


prior


Creation


the


World.


is presented


as a psychic


event:


When


changed


had


in aspec


thus


spoken,


t before


forthwith


and


were


all


open


things


ed out


a moment.


And


I beheld


a boundless


view;


was


changed
marvel


into


light,


ed when


a mild


saw


and


And


joyous


light;


a little


and


while,


there
darkne


had


come


to be


terrible


and


in one


part


grim....


a downward


And


thereafter


-tending


saw


the
was


darkn


ess


unspea


from
sound


changing


kably
and


tossed
heard


entation;


into


a watery


about,


and


it making


there


gave


an inde


was


sent


stance
forth


, which
smoke a


scribabl


forth


from


it an inart
came forth


watery
voice


And


iculate
a holy


substance;


the Light.
Poimandres


cry.
Word,


and


But


whi


from


took


methought


spoke


for


the
it


thi


Light
stand


Word


me to hear,


there


was


and


upon
the


the


said


me.
seen?'
know.'


you
'Tell
'That


under


stand


meaning


meaning,


Liqht,


' he


of what


said,


said,


'and
even


you


have


shall


Mind,


the










son,


and


separate


word


and


the
one
mind


'Now


'and


earn


mind
from
i


ix your
to know


IS
the
Said


father
other;


For


thought


the


word.


for life
this I


upon


And


the


when


thank


Light,


had


They are
the union


you.
' he


thus


said,


spoken


zed long
s aspect.


mind


and
out


had


that
come


bounds.


reason


upon
And


the


to be


This


the word


, so


when
Light


raise


that


head


consisted


an order


perc
which


ed world,


eive


trembled


again,


innumerab 1


but


thought,


Poimandres


had


a world


see


saw


Powers
with-


ing


spoken


me.


And


You


when I


ave


is prior


was


seen


amaze


in your


he spoke
mind the


to the beginning


ain,


arc


things


and


etyp
and


said


form,
limit


which
less.


Thus


spoke


Poimandres


me.


Poimandres


' admonition


learn


looking


at what


you


your-


self have


in you"


s the


very


formula


which


man


can


reali


full


extent


of hi


divine


nature.


thi


context,


ess


than


divine


to be


ess


than


a man.


The


most


em-


phatic


affirmation


man


s di


vinity


the


entire


Corpus


Hermeticum


found


Libellus


X of


Poimandres:


Nay,
is i


we are


.nde


a man


to speak
is even


the
abov


truth
e the


without


gods


fear,
heaven


he who
, or


any


rate


he equal


them


in power.


None


the


gods


of heaven


and
and


come


will


down


measures


mounts


vast
not


to h


a dis
shrink


ever


quit


to earth;


and


even


tance
then


aven,


but


what


without


can he put
from saying


man


is more
quitting


forth
that


and


asce


than


his p
a man


pass


its


even


all


earth;
ower.


boundary,
to heaven,


beside


, he


We must


on earth


iS a


mortal
man.6


god,


and


that


a god


even


is an immortal


The


"divine


man"


which


Hermetic


writings


celebrate


, of


course,


not


ordinary


man,


but


the


magus


, the


ected


refer


their


filius









point


having


made


himself


a fit


vehicle


"divinity"


he must,


final


analy


, look


to God


and


divine


grace


for


the


ultimate


perfection


powers:


All


this


had
man
and


power, all
assistance


neither


who
his


power


depended


own


glory


from


nor


on his


sciences


God.


glory.


own


was


man


Without
Natural,


pow


ers


power


ess


as magus


such


his
and


res


aid,


profane


own


1 n-r ii


ted...


man


man,


reason,
vi i niiE 7


The


powerl


ess


and


inglorious"


natural


man


is one


who


not


experienced


unconsc


ious.


was


the


purpose


eso


teric


doctrine


to initiate


the


cho


sen


individual


an awareness


reality


part


the


psyche


whi


ch li


beyond


ego


: thi


doctrine


effects


constituted


the


Ren-


aissance


concept


the


series


The


main


reason


our


interest


the


Renaissance


series


, as Edgar


Wind


has


pointed


out,


because


"the


splendour


their


ex-


pres


with


sion


works


Renai


which


ssance


"were


art.


" We


are


designed


concerned,


initiates;


hence


require


an initiation.


s initiation,


which


has


goal


creation


magus


implicit


the


symbolism


some


most


chara


cteristic


art


Renaissance.


we would


truly


understand


the impli


cations


Spenser


s remark


that


The


Faerie


Queene


"a matter


of just


memory,


ves


we must,


Spenser


effect,


"memory"


undergo


Is none


this


other


initiation


than


our-


col


lective


memory


mankind


: it


, as we would


say,


+liy rvL J.VUJ (


,,


rir


--








into


collective


unconscious,


but


also


to organize


Thus


Yates


describes


Bruno'


stem


"introducing


to the


core


the


creative


act,


the


inner


act


whi


ch precedes


outer


express


sion.


It i


a kind


of Hermetism


designed


to generate


sublime


works


art,


which


turn


will


provide


the


magic


necessary


the


creation


the


magus:


man
the


s mens 1
universe


divine


is within


then
it,


the
and


divine
an art


organi
which


zation
repro-


duces


the


divine


organic


zation


in memory


will


tap


the


powers or
When


begin
memory


the


cosmos


the contents


app


ear


artist


within


eves


, which


are


memory
psyche


the


in man


are


hims


unified


this


sion


elf.


there


will


Herme


One beyond


the


multiplicity


appearances


Though


the


stem


very


complic


ated,


we can


gain


some


idea


the


procedure


from


Miss


Yates


' analysis


Bruno


believes


that


can


make


stem


which


gets
the


inside


the


permutations


astrologic


and


stem,


combinations


which
the c


refl


ects


hanging


planets


horo


scopal


nature


the
hou


zodiac


ses


and


will


to organic


the


elr


influences


be tapping
psyche....


the mechanisms


If we drop


word


'magi


cal


' and


think


the


efforts


an occult.


memory
psyche
within


logic
typal


artist


as directed


combinations


range


some


thought....


memory


images


towards


'archetypal'


maj or
Through


sees


trends


the
the


drawing


images


of modern


magic


groupings


out


we come


psycho-
arche-
nature


his
of


as bound


The


together
magic of


with
magic


magic


images


and a
could


ssociative


interpri


links
eted


Renai


ssance


as an arti


stic


magic


; the


imag


became
dowed


endued


with


with


perfect


aes


theti


power


through


Ing


en-


proportions


Bruno'


spirits or
linking...


prac


demons


magic...


through


through


"link


cons


the imagination,


drawing


One
and


way


was








normal
forms


faculty
y making


psychology


which,


imagination,


however,


and


more


trans-


particularly


magically


joined


energy.
sole gate
links."


the


Thi


animated o
cogitative
magically


to all


Bruno


expounds


ditioning
into the


will


of
pers


unlock


r exc


ited


power,
animated


internal
language
to him,


imagination


onality
ts inner


imagination,


source


imagination


sections


is exc


ited


central


in such


spiritual


powers


and
and


stery,
a way


or demonic


This


was


when


of psychic


"the


the


link


secure


the


of
as


con-


as to draw


forces


what


always


trying


to do with


magic


memory-sy


stems,


and


the objec


eluding


pages


was


is quite


of De Magia,


clear


to achieve


from
the


the
pers


con-
onality


and


powers


a great


...Giordano


suit


the


Magus


Bruno


Renaissance


or religious


the


direct


and


glorification


leader.
logical
Man as


re-


the


great
again
him.


Miracle
become


man


who


divine


is divine


with


in short,


the


divine


in his
Powers


res


the


origin


res


and


can


iding


Renaissance


Hermetism.


Hermetic


man


exp


can


eriences


obtain


, why


such


should


powers


not


this


through


have


been


the


way


whi


ch Christ


obtained


powers?12


It becomes


clear,


therefore


, that


poetry


conceived


the


context


series


has


a purpose


beyond


itself:


can


regarded


means


as a spec


attaining


ies


divine


salvation


revelation,


The


point


as actual


Murrin


fine


book


that


"allegory


originates


divine


inspira-


tion,


superhuman


vision,


and


has


end


the


same


ex-


perience


other


people


Paraphrasing


Sallustius,


lamblic


hus,


and


others


Murrin


states


the


ancient


view


all


egorial


or mythic


language


thus:


Since


myth
and


must


gods
repr


what


surpass


esent


cannot


man


both


say.


in power


what


man


It must


and


can


say


include


sdom,
about


both


the


them


the


scure


, the


which


was


, ,


,,









people
not th
gory;


divinity


people


they


these


which


exercise


lives


inspires


real


determine


him.


control


over


gods,
alle-


nature.


This


another


way


of saying


that


the


allegory


associated


with

than


myth


an autonomous


a product


conscious


creation


invention:


the

the


unconscious

poet discov


rather


*ers


poetry


in hi


S unconscious


and


communicates


people.


There


is no reason


imagine


that


he himself


need


have


any


clearer


understanding


meaning


alle-


gory


than


those


to whom


presents


The


inspired


words


come


already


covered


veil


allegory;


nature


"dark


spee


god


The


only


thing


that


can


consc


iously


concea


from


the


uninitiated


source


from


which


inspiration


came


to him


place.


we consider


that


the


chief


criterion


which


Renaissance


as well


antiquity


distingui


shed


be-


tween


"true"


and


poetry


extent


to which


was


discovered


rather


than


invented


then


endl


ess


debates


concerning


"poet"


versus


"pseudopo


will


begin


make


sense


. Mr.


Murrin


expre


sses


stinction


thus:


The


et stirs


memories


of hi


audience


to recall


their


true


nature


and


their


lost home,


and


can


evoke


this
hims


reminiscence


elf;


that


because
memory


he has


still


already


both


experience


an efficient


d it


and


final


crac
the
mind
old


cause


and


celestial


des


ended


vision


of his
assures


music
into


again,


art.


of hi


he had
matter;
tried


The


poet


bodily
known
and,
to fly


pri
long


heard


son


ago,


wishing to
back home


through
images o


efor
see
but


the
found








to escape
audience


had.


Again


from


the
the


matter.


same


What


vision


memorial


The pseudopoet


own


vision.
he stirs


sophia


ration.


mind, fo
He thus


no one


and


hn7~


t4chne


the


he and


act


weaves


has


produces
s memories


W1S


, images


It is not


dom


not


poet


awakes


everyone


else


once


communal.


s allegorical
recalled the


empty
...
and a


without


child


poetry,


True
rt;
*


vision,


web


out


ancient


without


poetry
false p
art wi


Mnemosyne.


depth;


combines


oetry
thout
15


has
ins


True


all


egory


inseparable


from


the


esoteric


tradition,


be-


cause


it i


means


which


that


tradition


expres-


sed


therefore


a fundamental


error


to approach


poem


like


The


Faerie


Queene


other


than


combination


sophfa


and


t~chnZF.


the


reader


who


could


truly


attain


"Renai


ssance


und


ers


standing


the


mystery


" Spenser'


poem


would


seen


as a sublime


creation


to which


the


proper


response


would


be wonder


and


astonishment:


.. .we
thing
could


was


must


try


experience


the excitement


give
not


ancient


a proc


ess


which


within


all


world


mere


ourse


egoric


and


the


interpretation,


lives


some-


rhetoric


Renaissance.


such


as we


racti


Who
thro


can
ugh


In our


say what
story one


schools


it must


own


today;
have
nature


was


been
. the


a revelation.


like


to di


universe


cover


and


the


invas


power


The


so wid


diffu


espread18


sion


Hermetic


that


texts


majority


Renaissance


those


the


was


Court


Queen


Elizabeth


could


be expected


not


only


to have


sufficient


familiarity


with


esoteric


doctrine


to appreciate


a poem


such


as The


eene,


but


actually


to have


been


"initia-


ted"


into


"myst


eries


Thi


is especially


true








operational


power,


the


Renaissance


Magus,


" and


for


whom


alchemy


was


"one


of hi


main


inter


ests,


to Court


instruct


her


hidden


meaning


an alchemical


treati


, Monas


Hieroglyphica,


which


he had


dedicated


Emperor


Max


imillian


Dee


describes


thus:


...her


her
in
aut
the


Wher
same


wise
philo


self
the f


esti


very


scholar.


forefront


taceat,
secrets


aut


euppon her
with me;


did


Maj
and


comfort


sophicall


and


gratiously


.. &
that


scat:
boke
esty
then


said
book:


had


vouchs


where
Qui


I would
would
a little


in most


& encourage
Mathematical


eas
non


disc


Et di


heroi


me i
&c.


afed
I had


to account


pra


efi


xed


intelligit,


unto


scere


rusal


call


.n my
20


her


Face


re.


the


& prince
studyes


Thoma


Charnock,


the


author


a major


alchemical


work


en-


title


ed Breviary


of Natural


Philosophy,


was


also


aware


the

cal


Queen


treatise


interests,


to Eli


1566


zabeth


entitled


he dedicated


A Booke


an alchemi


of Philosophie


whi


a copy


was


handed


to Lord


Burghley,


who


had


ace


d in


the


Queen


library.


Sherwood


Taylor


has


collect


considerable


correspondence


between


Andrew


Paschal


John


Aubry


conce


rning


this


event


and


other


activity


Charnock,


it is clear


that


while


Thomas


Charnock


had


no connection


with


the


Court,


was


a person


of consider-


able


circle


interest.


es:


though


Dee,


however,


position


had


at Court


access


was


the


not


inner


official,


was


under


protection


both


the


Queen


and


Lei


cester,


and


was


considered


the


Queen


astrologer








learn


from


Moffet


that


was


also


the


tutor


Sir


Philip


Sidney:


a young


man


preci


sely


excellent


and


inspired


with


true


the fabi


minish


religion,
of sooth


the Divine


eare


sayers
ajesty


, he


d le


too


might


(always


receptive


ras


held


hness


reverence)


and


tie


dispo


ser


down


Divine


of all


Providence


thing


everywhere


to particular


modes


and always
and means.


Yet,
mon


not
sense


nature


sati


sfied


with


Sidne


with
eye
esse


the
pas


j judgment


sing


d into


and


to and


the


reach


through


innermost


com-
all


penetralia


causes


teac


her,


stry [i
nature.


and


and


.talics
26


with


that
Dyer


mine],


tok


ed by


God,


as companion,


that


starry


science,


with


earned
rival


Dee


chemi


Thi


description


gives


an acute


glimpse


what


was


like


to be


"initiated


into


the


mystery


es" in


Elizabethan


England.


can


imagine


that


Sidney


and


Dyer


were


very


much


concern


d with


moral


and


religious


implications


in-


volved


assumption


the


powers


and


prerogatives


the


Renaissance


magus.


We must


not


forget


that


the


teenth

taken


ently


century


serious


legend


Sidney '


contagious,


even


the


arch-magician


alchemical


sister,


activity


Mary


Faust


were


Herbert,


was

appar-


Countess


Pembroke,


was


involved.


Aubrey


states


the


matter


thus


In her


time


Wilton


house


was


like


a College,


there


were


the


lady i
yearly
kept f


so many
greatest


her
a gr


learned
patrone


time.


eat


her


(vulgarly
Walter Ra


deal


and


sse


eniose


of witt


was


that


laboratory


calle
eight,


d Dr.
who


Gil


was


and


a gre


study


the


h


bert),
a great


per


sons.


She


learning


at chymist


litalic


house
half


Adrian
brother


chymist


and


was


any
spent


mine].
Gilbert
r to Sir


those


She


days


Also


one...


borne,


Boston,


did u


a good
himself


chymi
by s


a Salisbury


tudvincr


the









From


all


accounts,


alchemy


seems


to have


been


a constant


preoccupation


Sir


Walter


eigh,


especially


on his


sea


voyages:


Sir
some
him.


Walter


Mss


carrie


had


Ral


. rece


eigh
ipts,


He studyed
d always a


nothing


was


I h


most


trunke


to divert


a great
ave seen


in his


him.


chymi
some


and


secrets


sea-voyages


books
28


along


, wh
with


among
from


ere


him,


eigh


the


s books


Tower


were


London


with


during


him


the


even


during


reign


confinement


James


Scholar-


ship


confirmed


that


the


coll


section


included


works


alchemy


and


occult.


A laboratory


was


set


him


there,


and,


along


with


a fellow


political


prisoner,


Henry


Percy,


Earl,


ninth


" and


Earl


trio


Northumberland,


equent


known


visitors--Walter


"Wizard


Warner,


Thoma


Hariot,


and


Robert


Hues--who


were


known


"Three


Magi,


" he


was


engaged


in various


experiments


Rattansi


investigated


influence


which


eigh'


interest


in alchemy


and


natural


magic


exe


rted


story


the World,


which he


composed


during


incarceration.


The


finest


collection


of books


and


manuscripts


Elizabethan


England


was


, significantly


enough,


that


owned


John


Dee.


An eminent


storian


science


Francis


Johnson,


who


emphasis


zes


strictly


scientific


rather


than


oCC


ult,


describes


gnificance


Dee


library


thus:









scientist
kept in
discover
to Queen
disperse
recover
al Libra
nothing
about fo
manuscri
thousand


scie
pass
vast
scie
they
mona
the
shou


Dee's
If one
center
might


ere
ic
ste
be
his
fel
be
of
tru


England


Continent,


con
ies
Ma
d w


stan
ori
ry t
ith
in o
is


n


an


t
g
h
t
r
w


going
g hi
whi
umes
ibra
rope
f im
ch h
title
ses)
prin
und
eat
sci
ves
V un


ly
ly be


during


t
t


to
ini
.at
.he
der
'ell
g t
S O
ch,

ry
, f
por
e c
va
, b
ted
on
lib
ent
tha
ive
erm
he


uch
ati
the
des
to
kn
o c
wn
by
It
in
or
tan
oul
lue
ut
wo
his
rar
ist


with
ng ab
anci
truct
foun
own.
ome o
libra
1583
was u
Engla
Dee n
t med
d get
d by
he has
rks o


the E
all th
oad.
nt boo
on of
there
When h
this
y of s
had g
doubt
d, and
t only
eval m


english
e late
Dee's
ks and
4,i


t
w


C
r
d


a


mor
lun
o s


ne
ith
pe
ugg
ien
own
ly
pro
had
nus
e r
der
een


mo
a
rc
es
ti
t
th
ba
c
cr
ea
er
t


group wa


st i
unhe
man
nast
gre
eive
tion
fic
o ov
e gr
bly
olle
ipts
daily
s of
o it


mathematics


sh
y w
s a
he
ty
the


period


from


about


the
ends
ial a
ry, D
unive
1560


deas
eded
uscri
series
at Na
d tha
, he
books
er fo
eates
not s
cted
on
beca
the
that
1 sci

sposa
d pup
the
's ci
ity o


S
and
plea
pts
be
tion-
t
set
and
ur
t
ur-
a


use

all


ences


to 1583.


To which


must


added


Miss


Yates'


comment:


The whole


rather
and Pi
philos
purely
sance
or Cou
and ma
read o
sius (
works
Englan
science
toward
the se
studied
(repre
Englan
and mo


ella
, sc
mmar
out
Ref
1 le
e hi
rep
alvi
ith


tn a
viga
Ren
e Br
ed i
Ren
, Gr


Renaissance


Renais
randol
ce, an
human
trinal
.ation,
ngs, a
rchies
ented
And i
chara
wrong p
n and
sance
sh His
he lib
sance
and L


this


sance
a, w
d ma
ist


s inter
its sl
, rathe
di es


l.A -a-


in
t
ct
ra
th
wh
to
ra
wh
at


, eit
very
nce w
s wit
brary
naiss
deve
bent,
and n
ludes
eoffr
the
ues p
lian


library.


ed by
toward
an tow
s a Re
Reform
ong my
prefe
eudo-D
their t
situa
.ent of
h an o
ands b
its hi
f Monm
nicles
y, anc


It
her
st
hic
h P
) r
anc
lop
wi
ew
in
ey
chr
oet
and


Or
Ficino
s
yards
nais-
ation
stical
rs to
iony-
han the
ted in
popular
outlook
eyond
storical
outh
of
ient


rench.


...one










and


mediaeval


writers


upon


alchemy


and


philosopher


stone


: Hermes


Trismegi


stus,


Geber,


Albertus


Magnus,


John


Sacrobosco,


Raymond


Lully,


Philip


Alstade,


Arnold


Villa


Nova.


Many


authors


ose


influence


can


traced


Hermetism


Faeri


Queene


were


repre-


sented


library.


From


1583


to 1585


magus


Giordano


Bruno


was


England


introduce


a species


"magi


Hermetism"


whi


as Miss


Yates


has


shown,


"off


ere


sub-Catholi


discon-


tented


intelligentsia,


and


others


secretly


ssa


sfied


Eli


zabethan


society,


a new


outlet,


quite


independent


hated


Spani


sh Catholi


cism,


secret


yearning


Dorothea


Waley


Singer


speculated


that


Bruno


s London


circl


must


have


included


least


following


literary


figures:

Raleigh,

Temple,


Sir

Sir

John


Philip

Thomas

Florio,


Sidney,

Sackvill

George


Sir


Fulke


Chapman,


Greville


;dward

Samue


Dyer,

1 Dani


Sir

el,


Walter

William


chard


Carew,


Gabri


el Harvey,


and


Edmund


penser.


Bruno


s most


intimate


relationship


was,


course


with


Sidney,


to whom


dedicated


works


: Spaccio


Trionfante


1584)


and


De gli


Eroici


Furori


(1585).


Yates


shown


that


both


works


have


a similar


purpose:


...the


religious


at...


experien


the Hermetic


ces of
gnosis


Eroi


this


ci furori


mys


tical


a-


1


I


I


I+


c


I I








the


soul,


a world,


" and


that,


a universe


since
" the


"in every
reform of


man...there


the


heavens


the


the
in


reform,


reform


the


or the


begins


intell


the heaven


them


with


good


ectual
their


produ


the


heaven"


mind


action,


minds


within


s" the


bad


qualities.


of
the


a personality....


gods


them, to
qualities


this


them


elves


"drive


and


interior


from


replace


reform


gods


themselves


which


is refl


ected


round


the


vault
vices


of h


even


the


forty


the v
-eight


irtues


rise


to replace


constellations


thus


pers
pers
cess


ona


lity


onality
ful whol


whi


ch is


whose
e.38


being


power


are


formed


being


formed


Spaccio,
.. m, ,,. 11


into


a


a
suc-


Bruno


seems


to have


seen


Elizabethan


society


as divided


into


two


factions:


ose


initiated


into


the


mys


teri


, and


those


not.

with


The

whom


latter

Bruno


were

was e


represented


engaged


in controversy


Oxford

y almost


"pedants

t immedi


ately


upon


arrival


England.39


With


the


former


found


himself


very


much


at home,


this


was


"cult"


Queen


Elizabeth.


Thomas


Dekker,


prologue


to Old


Fortunatus,


describes


thus:


Are


Even


ling. S
Cynthia:


you


then


to her


ome


some


call


trave
temple


lling


are


Pandora:


Belphoebe


: some


feeble


some


Astraea


temple o
e limbs
Gloriana


: all


Eli


za?


travel-
: some


several


names


but


one


express
elestial


seven


body,


ves
all


: Yet
those


ose


love


names


make


mee


create


name


but


one


am of
Eliz


soul.


her
41


own


country,


and


we adore


her


And


Bruno,


who,


would


appear,


was


quickly


accepted


d into


innermost


recesses


temple


of Eliza,


paid


re-


aspects


also:


Where
SC4-h


will


you


a CIinOrt nr


find


one


nr 4-bin


masc


inat11 li


uline


1-h-i


gender


Siiixri n


who


El ~1zi~


|


I l l


r-









her rea
amongst
amongst
sellers


im


is more


the


doctor


none


nobles


worthy
, none


rs, none
have a wi


mor
ser


than


is more
e learn
head.4


s lady
heroic


ed,
2


hers
than


amongst


elf;
she,
coun-


Yates,


her


essay


"Queen


Elizabeth


as Astraea,


" has


investigated


cult


Elizabeth,


and


shown


that


the


minds


certain


poets


Cynthian


cult


appear


s to


take


some


kind


esoteric


philosophy


cal


signifi


cancer


inkling


the


particular


kind


of esoteric


signifi


chance


may


perhaps


be obtained


from


the


following


poem


from


Sir


John


Davies


Hereford


s Hymnes


to Astraea:


E arl


bef


us a
is no


ore


wake my
time to


day
Muse


doth


and


spring
sing;


slumber,


o many
s Time


joyes
will


time


fail


doth


bring,


to number


ut whereto


uen


T he Mayd,


shall


to Heauen,


which


we bend
again


thence


our


layes?


raise


descended;


A nd all


the world


amended.


R ud


enesse


it self


doth


refine,


uen 1
rose


Into
N ot
A nd


ike


an Alchymist


times


the purest


to corrupt,
be refined


yron
forme


till


with


diuine;


turning
of gold;


heauen


waxe


old,


burning.44


This


allusion


"Alchymi


diuine"


possibly


more


significant


than


previous


commentators


have


realized.


Cer-


tainly


the


series


surrounding


the


cult


Astraea


were


Hermetic.


It is


probably


true,


as Miss


Yates


beli


eves


that


Bruno


s Eroic:


i furori


was


"bound


with


the


Eli


za-


* .


t I I


r r


Ir


I


-V


I









celebrated


the


cult.


Connected


with


the


cult


Elizabeth


was


an annual


event


which


seems


to have


influenced


both


Sidney


Arcadia


as well


Spenser


s The


Faeri


Queene


: thi


was


tilt


which


was


held


anniversaries


Eli


zabeth


s access


ion


the


throne.


Chambers


considers


that


was


the


pagean-


try


associated


with


the


Accession


Day


Tilt


that


was


held


Woodstock


1575


ature.


that


Yates


Fairy


has


shown


Queen


that


first


include


entered


ed in


liter-


entertain-


ment


was


rumouredd


to contain


important


secr


mean-


wings


Some


years


later,


the


Ditchley


Entertainment


, the


pictures


banquet


which


was


many


held


curiously


a bower


examined


full


enchanted


and


to construe,


and


the Entertainment


was


written


in a


"curiously


vague


and


riddling


style


" which


makes


"precise


interpretations...


difficult.


The


various


Accession


Day


celebrations


provide


an annual


occasion


identical


that


described


Spenser


the


letter


to Rale


igh


which


was


appended


to The


Faerie


Queene:


It will
genesis
at which


Que


rememb


his


ered


poem


"clowni


en.


that


from


the


young


With


penser


Fairy


man"


himself


Queen


prese


philosophy


nted


deri


ves


the


"annual


a petition


mutability,


clowni


shly


Prote


clad


stant


knight


moral,


going


this


spee


Queen


annual


Wood


stock


feast,


En-


tertainment]


seems


to be


using


the


same


kind


voc


abulary


enser.


Miss


Yates


would


look


to Bruno


s Hermetism


for


a key








knights
study t


an Accession


he abstruse


philo


Day


Tilt.


sophical


one


meanings


wishes
which


to
could


drawn


out


of such


impr


esa


shields


one


cannot


better
ginning
ladies


than
of


read what


this


England


work,


and


Bruno
there


to say....
an address


one


eat


Diana


the
the


be-


who


among
hardly


them


a sun


amidst


an exaggeration


philosophic


the


enthusia


travail


their


are


the
say


stars
that t


to be


soul


that


he shield-b


fanci


before


as di


Queen


hearing
splay-


Eli


and
the
And


ladi


pri
at


of her


court


illumination


end of


the Eroici


--as


were


the highest


furori,


nine


tilting


divine
blind


light.
men


receive


eir


sight


and


become


nine


illuminati


when


they


arrive


under


temperate


the Briti


and


of Father


come


Thame


into


, one


urn


them
veal


e presence o
of whom--the


and


divine


lovely


greatest
splendour


nymphs


among
is re-


The


"pri


of illumination


highest


divine


light"


course,


preci


sely


what


enser


s Faerie


Queene


all


about.


significant


likelihood


that


Sir


Philip


Sidney


had


a central


involvement


these


events


as Phili-


sides,


Shepherd


Knight.


Miss


Yates


has


pointed


out


that


the


plan


Accession


Day


Tilts


was


that


"their


imagery


should


political


build


and


in te


theological


rms of c

position


hivalrous


romance,


of Protestant


Eng-


land


Referring


specifically


1581


tilt,


her


sur-


mise


that


Sidney


"rather


sensational


appearance


at it


...may


have


been


a factor


the


making


the Sidney


gend--a


legend


which


is woven


into


legend


Ac-


cess


ion


Day


Tilts.


relationship


between


the


"Sidney


legend"


and


Spen-


*a -


---opens
ed, 51


-l /*


r t ~


A


.I n


*









noble


person


in vertuous


and


gentle


discipline"


which


Spen


ser


s poem


see


to fa


shion.


We have


seen


that


the


goal


esoteric


tradition


to create


just


such


individual.


The


fact


has


been


establi


shed


that


alchemy


and


Hermetism


friends.


were


passionately


Spenser'


s relation


pursued


ship


Sidney


to Sidney,


and


Dyer,


close


eigh,


Leicester


and


others


well


known.


seems


fairly


cer-


tain


that


was


Sidn


who


penser


the


task


writing


The


Faerie


Que


ene


first


place.


know


from


a letter


Spenser


to Gabri


el Harvey


that


the


poem


was


underway


early


as April


1580,


whi


was


when


Sid-


ney


influence


on Spenser


was


at its


peak.


as Miss


Yates


suggest


ted,


ere


were


those


Sidney


s circle


who


might


ave


regarded


Bruno


s Spaccio


a blinding


re-


velation


an imminent


universal


Hermetic


religious


and


moral


reform,


presented


the


splended


imagery


some


great


Renaissance


work


of art,


painted


and


sculptured


with-


memory


artist


it not


p055


that


Spen-


ser


s Faer


Queene


might


have


een


inte


nded


fillment


this


eve


lation"


Certainly


the


sixteenth


century


it would


have


been


common


enough


sus


pect


such


work


as embodying


alchemical


forms


thought.


with


all


types


Renaissance


magic,


at 1


eas


some


knowledge


alchem


was


niversa


amona


educat


d people


those


V


r


.


-k


--


-4


v








alchemy


would


have


been


regarded


a mystical


as we


would


say,


psychotherapeutic


scipline;


and


suspect


that


such


readers


might


have


considered


that


an epic


poem


philosophical


poet


tradition


Chaucer


might


indeed


require


an alc


hemi


interpretation


Arnold


Villa


Nova,


one


Dee


favorite


authors


, has


stated


that


"only


he who


can


create


the


stone


philosophers


understand


words


about


stone"61


: we


must


remember


that,


like-


The


Faerie


Queene


would


have


been


"magical


poem"


only


those


who


could


find


a way


understand


the


allegory.














NOTES


1Hermetica,


trans.


Walter Scott


(London,


1968),


289.


ZHermetica,

3
Hermetica,


4ermetica,
Hermetica,


5Hermetica,


6Hermetica,


291.


295-297.


357-359.


115-117.


205.


7harles
Charles


Nauert,


Jr.,


Agrippa


and


the Crisis of


Renaissance


Thought


(Urbana,


1965),


391.


8Edgar Wind,


Pagan Mysteries


in the


Renaissance,


2nd


rev.


(New York,


1968),


9
Frances A.


Yates,


The Art


of Memory


(London,


1966),


254.


10Yates,

11Yates,


254.

251


12
Frances A.


Yates,


Giordano Bruno and


the Hermetic


Tradition


(London,


1964),


265


13Michael Murrin,


The


Veil


of Allegory


(Chicago,


1969),


162.


Murrin,







.11


Thought,
"Arcana
289-324.


" JWCI,


Artis


Gombrich,


X-XII


" Zeit


"The


Visual


(1947-49),


schri ft


Image


-192


stg


Neo-Platonic
. Hartlaub,


eschichte,


(1937),


17Murrin,

18
Frances


Scie


nce,


" Art,


Yates
science


, "The


Hermeti


and Histo


Tradition
Lthe Rena


Renai


ssance


ssance,


Charles


. Singleton


(Baltimore


, 196


. 256


19yates,


Giordano


Bruno


150.


20MS
. H.


* Cotton,
Josten,


Vitellius


aVII,


"A translation


art


John


Dee


Quoted


s Mona s


ero-


glyphica


(Antwerp,


1564)


with


an introdu


action


and


annota-


tions


" Ambix,


XII


(1964),


. Sherwood


Taylor,


"Thomas


Charnock,


" Ambix,


(1938


-46).,


172.


22Taylor,


151-159.


Yates,


"John


Dee


Elizabethan


Age,


" Theatre


the


World


(Chicago,


1969),


. 4.


24Yates,

25
Yates,

26T
Thomas


Giordano


"John


Moffet,


Bruno


Dee


a *, P


188.


* .,


Nobilis


, or A


View


the Life


and


Death


a Sidn


and


. .


trans


. Virgil


. Heltzel


and Hoyt


Hudson


(San


Marino,


Cal


., 1940),


27
John


Aub


rey


, Brief


Lives,


Andrew


Clark


(Oxford,


1898),


28Aubrey,


9John


William


Shirl


"The


scientific


eriments


the


Walter
Tower


Raleigh,
1603-1617,


The


Wizard


" Ambix,


Earl,


(1949


the


-51),


Three


Magi


52-66


16
Cf,


21F







Francis


sance


England


Johnson,


(Baltimore,


Astronomi


1937),


cal Thought


Renais-


32Yates,


"John


Dee


33Charlotte


Fell-Smith,


John


Dee


(London,


1909),


244.


34
Yates,


Giordano


Bruno


35
Dorothea


Thought


(New


Wal


York ,


ey Sing
1950),


G io rdano
. 35-44.


Bruno,


His


Life


and


36M
Mrs.


tion


Singer


The Expul


notes


sion


that


of the


ere


is an English


Triumphant


Bea


transla-


stby


Morehead
Williams


(1713),


1887)


and of The


Gio


rdano


Heroic


Bruno


Enthusiasts


116,


r r r 0f


37Yates,


Giordano


Bruno


. p.


281.


38Yates,

39
Yates,


McNulty,


Giordano


flrnnn


SGior dano Bruno .

Giordano Bruno .


"Bruno


at Oxford,


Spp.-


" Renai


ssance


205-11
News,


and


XIII


Robert
(1960),


300-5.


40
Yates,


Giordano


Bruno


. .a p.


290.


41Thomas
Frances A


Dekker
. Yates


Works


, "Queen


(London,


Elizabeth


1873),


as Astraea


Quoted


" JWCI,


X-XII


(1947


-49),


42Giordano
Giordano


Br uno,


la C


ausa,


dial.


(Dial,


ital.,


222-3).


Quoted


Yates


SGiordano


Bruno


a a .j p.


288.


43Yates,


"Queen


Elizabeth


as Astraea,


44Sir
Sir


John


Dav


Complete


Poems,


B. Grosart


(London,
Astraea,


1876),


, 129.


Quoted


Yates,


een


Eliz.


. 63.


45Yates,


Giordano


Bruno


289-290.


S S


-


0 .,


S S




Full Text

PAGE 2

$/&+(0,&$/ )2506 2) 7+28*+7 ,1 %22. 2) 63(16(5n6 )$(5,( 48((1( r %\ 52%(57 -2+1 5(0,1*721 52&.:22' $ ',66(57$7,21 35(6(17(' 72 7+( *5$'8$7( &281&,/ 2) 7+( 81,9(56,7< 2) )/25,'$ ,1 3$57,$/ )8/),//0(17 2) 7+( 5(48,5(0(176 )25 7+( '(*5(( 2) '2&725 2) 3+,/2623+< 81,9(56,7< 2) )/25,'$

PAGE 3

&RS\ULJKW E\ 5REHUW -RKQ 5HPLQJWRQ 5RFNZRRG

PAGE 4

$&.12:/('*0(176 )LUVW RI DOO ZDQW WR H[SUHVV P\ DSSUHFLDWLRQ WR WKRVH SURIHVVRUV ZLWKRXW ZKRVH LQIOXHQFH WKLV GLVVHUWDWLRQ FRXOG QHYHU KDYH EHHQ FRQFHLYHG 'U :LOOLDP / +DOVWHDG 3URn IHVVRU (PHULWXV RI (QJOLVK DW WKH 8QLYHUVLW\ RI 0LDPL LQ ZKRVH XQGHUJUDGXDWH FRXUVH YDV ILUVW LQWURGXFHG WR 7KH )DHULH 4XHHQH 'U -DFN $ 5H\QROGV 3URIHVVRU RI (QJOLVK DQG 0HGLHYDO /DQJXDJHV DW WKH 8QLYHUVLW\ RI 0LDPL ZKRVH LQWURGXFWLRQ WR SKLORJ\ OHG PH WR SXUVXH WKH VXEMHFW WKURXJK HOHYHQ ODQJXDJHV DQG 0HGLHYDO GLDOHFWV ZLWK WKH UHVXOW WKDW OHDUQHG WR GLVFHUQ SDWWHUQV DQG WR EH XQGDXQWHG E\ ODEHOV 'U *RUGRQ ( %LJHORZ 3URIHVVRU RI (QJOLVK DW WKH i 8QLYHUVLW\ RI )ORULGD ZKRVH JUDGXDWH VHPLQDU LQWURGXFHG PH WR WKH SV\FKRORJLFDO VWXG\ RI P\WK DQG SDUWLFXODUO\ WR WKH ZULWLQJV RI & -XQJ ZKLFK LQ WXUQ VSDUNHG P\ LQWHUHVW LQ WKH SV\FKRORJLFDO LPSOLFDWLRQV RI HVRWHULF V\VWHPV SDUn WLFXODUO\ 0HGLHYDO DQG 5HQDLVVDQFH DOFKHP\ DQG ILQDOO\ 'U :LOOLDP 5RVFHOOL QRZ 3URIHVVRU RI (QJOLVK DW 1RUWKHUQ ,OOLQRLV 8QLYHUVLW\ ZKRVH JUDGXDWH FRXUVH LQ 6SHQVHU DW YHUVLW\ RI )ORULGD JDYH PH WKH RSSRUWXQLW\ WR DSSO\ [U [ WKH 8QL

PAGE 5

P\ WRROV WR 7KH )DHULH 4XHHQH DQG ZKRVH JUDFLRXV XQGHUVWDQGn LQJ DQG LQWHUHVW LQ WKH WRSLF HQFRXUDJHG PH WR H[SDQG WKH LGHD IURP D VKRUW WHUP SDSHU WR LWV SUHVHQW SURSRUWLRQV 0\ YHU\ VSHFLDO WKDQNV PXVW JR WR WKH FKDLUPDQ RI P\ GRFWRUDO FRPPLWWHH 'U 5REHUW $ %U\DQ (YHQ WKRXJK DV 9LFH 3UHVLGHQW IRU $FDGHPLF $IIDLUV KH LV RQH RI WKH EXVLn HVW PHQ DW WKH 8QLYHUVLW\ RI )ORULGD KH ZDV DOZD\V LPPHGLn DWHO\ DFFHVVLEOH DQG UHDG\ WR SURYLGH GLVFHUQLQJ DGYLFH DQG HQFRXUDJHPHQW +LV HQWKXVLDVWLF VSRQVRUVKLS RI WKLV SURMHFW KDV PDGH LWVHOI IHOW LQ PDQ\ ZD\V EXW KLV ]HDO LQ REWDLQLQJ WKH IXQGV WR EXLOG WKH 8QLYHUVLW\ RI )ORULGDnV PLFURILOP FROOHFWLRQ RI DOFKHPLFDO OLWHUDWXUH LV ZKDW PDGH LW SRVVLEOH IRU PH WR SXUVXH WKLV UHVHDUFK DOVR ZDQW WR WKDQN 'U *RUGRQ ( %LJHORZ DQG 'U 0HOYLQ ( 9DON IRU VHUYLQJ DV VHFRQG DQG WKLUG PHPEHUV RI P\ FRPPLWWHH ZRXOG OLNH WR FRPPHQG WKH VWDII RI WKH 8QLYHUVLW\ RI )ORULGD 5HVHDUFK /LEUDU\ IRU WKHLU VNLOO LQ REWDLQLQJ WKH REVFXUH ERRNV DQG PLFURILOPV ZKLFK ZHUH VR HVVHQWLDO WR WKLV VWXG\ 0\ WKDQNV JR DOVR WR 'U 'HZH\ 5 )DXONQHU DW
PAGE 6

35()$&( ,W ZDV LQ SXUVXDQFH RI DQ LQWHUHVW ZKLFK DW WKH WLPH VHHPHG WRWDOO\ XQUHODWHG WR 6SHQVHUnV SRHP 7KH )DHULH 4XHHQH WKDW KDSSHQHG WR EH ORRNLQJ WKURXJK D PLFURILOP RI WKH 5RVDULXP 3KLORVRSKRUXP DQ LPSRUWDQW DOFKHPLFDO WUHDn WLVH ZKLFK LV FRQWDLQHG LQ WKH $UWLV $XULIHUDH D FRPSLODWLRQ ILUVW SXEOLVKHG LQ 2Q SS RI 9RO ,, RI WKH HGLWLRQ ZDV VWUXFN E\ WKH IROORZLQJ )DF GH PDVFXOR t IRHPLQD FLUFXOXP URWXQGXP t GH HR H[WUDKH TXDGUDQJXOXP t TXDGU£QJXOR WULDQJXOXP IDF FLUFXOXP URWXQGXP t KDEHELV ODSLGHP 3KLORVRSKRUXP 7KLV VWDWHPHQW H[SUHVVHG LQ WHUPV RI WKH V\PEROLVP RI FLUFOH VTXDUH DQG WULDQJOH LV D GHVFULSWLRQ RI WKH 3KLORn VRSKHUnV 6WRQH KDG WKH IHHOLQJ WKDW KDG VHHQ WKLV EH IRUHEXW ZKHUH" 7KHQ LW GDZQHG RQ PH LW ZDV WKH DULWKn PHWLFDO VWDQ]D LQ %RRN ,, RI 7KH )DHULH 4XHHQH 7KH IUDPH WKHUHRI VHHPG SDUWO\ FLUFXODUH $QG SDUW WULDQJXODUH 2 ZRUNH GLXLQH 7KRVH WZR WKH ILUVW DQG ODVW SRUSRUWLRQV DUH 7KH RQH LPSHUIHFW PFUWDOO IRHPLQLQH 7KnRWKHU LPPRUWDOO SHUIHFW PDVFXOLQH $QG WZL[W WKHP ERWK D TXDGUDWH ZDV WKH EDVH 3URSRUWLRQHG HTXDOO\ E\ VHXHQ DQG QLQH 1LQH ZDV WKH FLUFOH VHW LQ KHDXHQV SODFH $OO ZKLFK FRPSDFWHG PDGH D JRRGO\ GLDSDVH ,,L[f ,W ZDV DW WKLV PRPHQW WKDW WKH LGHD ILUVW HQWHUHG P\ PLQG ZDV WKH ODSLV 3KLORVRSKRUXP D 5RVHWWD 6WRQH WKDW ZRXOG XQ Y

PAGE 7

ORFN WKH DOOHJRU\ RI 7KH )DHULH 4XHHQH" 7KLV GLVVHUWDWLRQ LV P\ DQVZHU WR WKDW TXHVWLRQ &RQFHUQLQJ WKH FDQWR VXPPDULHV DQG H[WHQGHG TXRWDWLRQV IURP 7KH )DHULH 4XHHQH D ZRUG RI H[SODQDWLRQ LV LQ RUGHU 7KLV LV D GLIILFXOW SRHP KDYH VRXJKW WR SURYLGH WKH UHDGHU ZLWK VXIILFLHQW FRQQHFWHG WH[W WR SHUPLW KLP WR H[n SHULHQFH WKH SRHP RQ LWV RZQ WHUPV DV ZHOO DV WR SURYLGH D FRQWH[W ODUJHU WKDQ WKDW VXSSOLHG E\ WKH VKRUW XQFRQQHFn WHG SDVVDJHV TXRWHG LQ WKH FRPPHQWDU\ 7KLV LV LQWHQGHG VWULFWO\ DV D FRQYHQLHQFH WR WKH UHDGHU ,Q LWVHOI WKH FRPPHQWDU\ LV FRPSOHWH DQG DGHTXDWH $OO FLWDWLRQV DUH IURP 7KH :RUNV RI (GPXQG 6SHQVHU $ 9DULRUXP (GLWLRQ HG (GZLQ *UHHQODZ HW DO %DOWLPRUH f 9RO YL

PAGE 8

7$%/( 2) &217(176 $&.12:/('*0(176 35()$&( $%675$&7 3$57 &+$37(5 &5,7,&$/ ,1752'8&7,21 127(6 ,, (627(5,& $/&+(0< $6 68%-(&7,9( 36<&+27+(5$3< 127(6 ,OO63(16(5 $1' 7+( (627(5,& 75$',7,21 127(6 3$57 ,, $1 $/&+(0,&$/ ,17(535(7$7,21 2) 7+( )$(5,( 48((1( 127(6 &21&/86,21 127(6 %,%/,2*5$3+< 3DJH f f f 9 f f f 9OOO f f 9OO %,2*5$3+,&$/ 6.(7&+

PAGE 9

$EVWUDFW RI 'LVVHUWDWLRQ 3UHVHQWHG WR WKH *UDGXDWH &RXQFLO RI WKH 8QLYHUVLW\ RI )ORULGD LQ 3DUWLDO )XOILOOPHQW RI WKH 5HTXLUHPHQWV IRU WKH 'HJUHH RI 'RFWRU RI 3KLORVRSK\ $/&+(0,&$/ )2506 2) 7+28*+7 ,1 %22. 2) 63(16(5n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f FDQ EH WUDQVPXWHG LQWR SKLORVRSKLFDO JROG LH D WUXH JHQWOHPDQ 7R WKRVH DEOH WR XQGHUVWDQG WKH DUFDQH V\PEROLVP LW SURn YLGHG D SV\FKRORJLFDO YRFDEXODU\ QR OHVV SUHFLVH WKDQ WKDW RI PRGHUQ GHSWK SV\FKRORJ\ DV VHW IRUWK LQ WKH ZULWLQJV RI & -XQJ $IWHU H[DPLQLQJ WKH HVRWHULF WUDGLWLRQ ZLWKLQ WKH (OL]DEHWKDQ FXOWXUDO PLOLHX HVSHFLDOO\ DV LW LPSLQJHV RQ f f f 9OOO

PAGE 10

6SHQVHU DQG KLV FLUFOH RI IULHQGV DQG DVVRFLDWHV D V\Vn WHPDWLF DOFKHPLFDO LQWHUSUHWDWLRQ ZLWK D FRUUHVSRQGLQJ SV\FKRORJLFDO DQDO\VLVf RI %RRN RI 7KH )DHULH 4XHHQH LV SUHVHQWHG $OFKHPLFDO WKHRU\ LV FRQFHUQHG ZLWK ZKDW ZH ZRXOG GHVFULEH DV WKH VHSDUDWLRQ DQG V\QWKHVLV RI SV\FKLF RSSRn VLWHV 7KXV LQ %RRN WKH LQLWLDO RSSRVLWHV DUH 5HGFURVVH WKH DOFKHPLFDO 6RO V\PEROL]LQJ WKH PDVFXOLQH FRQVFLRXV DQG 8QD WKH DOFKHPLFDO /XQD V\PEROL]LQJ WKH IHPLQLQH XQFRQn VFLRXV RI WKH PDOH SV\FKH 7KH HQWLUH XQFRQVFLRXV SHUn VRQDO DQG FROOHFWLYHf LV V\PEROL]HG E\ WKH KHUPDSKURGLWLF 0HUFXULXV ZKR FDQ EH VHSDUDWHG LQWR RSSRVLWHV DQG DQDO\]HG DFFRUGLQJ WR WKH DOFKHPLFDO D[LRP RI 0DULD 3URSKHWLVVD 2QH 8QDf EHFRPHV WZR 'XHVVDf WZR EHFRPHV WKUHH $UFKLn PDJRf DQG RXW RI WKH WKLUG FRPHV WKH RQH DV WKH IRXUWK $UWKXUf 8QD DQG 'XHVVD DUH UHVSHFWLYHO\ WKH OLJKW DQG WKH GDUN IHPLQLQH DVSHFWV RI 0HUFXULXV $UWKXU DQG $UFKLPDJR WKH OLJKW DQG WKH GDUN PDVFXOLQH DVSHFWV )ROORZLQJ WKH VSLULWXDO LQFHVW RU P\VWHULXP FRQLXQFWLRQLV RI 6RO 5HGFURVVHf DQG /XQD 'XHVVDf FRPHV WKH V\QWKHVLV DSSHDUn DQFH RI $UWKXUf DQG WKH ILQDO FRQVROLGDWLRQ +RXVH RI +ROLQHVV DQG EHWURWKDO WR 8QDf 7KH RSXV DOFK\PLFXP SURn JUHVVHV IURP WKH GHIHDW RI WKH ZLQJOHVV FKWKRQLF IHPLQLQH SK\VLFDO GUDJRQ &DQWR ,f WR WKH YLFWRU\ RYHU LWV RSSRVLWH WKH ZLQJHG DHULDO PDVFXOLQH VSLULWXDO GUDJRQ &DQWR ;,f DQG HQGLQJ DV LW EHJDQ UHSUHVHQWV WKH IXVLRQ RI RSSRVLWHV RU WKH PDNLQJ RI WKH ILOLXV SKLORVRSKRUXP ,;

PAGE 11

7KXV WKLV VWXG\ VHHNV WR GHPRQVWUDWH WKDW WKH FULWLFDO SUREOHPV ZKLFK KDYH EHVHW 7KH )DHULH 4XHHQH IRU RYHU \HDUV DUH WKH UHVXOW RI D PLVXQGHUVWDQGLQJ RI WKH RUJDQL]LQJ SULQFLSOH RI WKH SRHP ,W VKRZV WKDW %RRN UHIOHFWV DOn FKHPLFDO IRUPV RI WKRXJKW DQG PDLQWDLQV WKDW HVRWHULF DOn FKHP\ SURYLGHV D NH\ WKDW XQORFNV WKH DOOHJRU\ %\ GHPRQVWUDWLQJ WKDW HVRWHULF DOFKHP\ VHUYHG DV D SV\FKRn WKHUDSHXWLF GLVFLSOLQH WKLV VWXG\ VKRZV KRZ D ZRUN OLNH 7KH )DHULH 4XHHQH FRXOG DFWXDOO\ EH XVHG WR HIIHFW WKH SV\FKRORJLFDO WUDQVIRUPDWLRQ RI D FORZQLVKH \RXQJH PDQ LQWR D SHUIHFWHG 6DLQW *HRUJH RI (QJODQG [

PAGE 12

3$57 b

PAGE 13

&+$37(5 &5,7,&$/ ,1752'8&7,21 ,W LV QRW ZLWKRXW VLJQLILFDQFH WKDW DIWHU QHDUO\ IRXU b FHQWXULHV RI 6SHQVHULDQ VFKRODUVKLS D UHFHQW FULWLF 0LVV 5RVHPDU\ )UHHPDQ VKRXOG DVN WKH IROORZLQJ TXHVWLRQ :KDW ZDV WKH LPSXOVH ZKLFK JDYH 7KH )DHULH 4XHHQH LWV VXEVWDQFH DQG IRUP UHFRJQLVDEOH DW DOO VWDJHV RI WKH SRHP EXW UHVSRQVLEOH WRR IRU WKH SUREOHPV RI LQWHUSUHWDWLRQ XSRQ ZKLFK FULWLFLVP NHHSV IRXQ GHULQJ"r 0LVV )UHHPDQ GLG QRW ILQG DQ DQVZHU EXW LW LV WR KHU FUHGLW WKDW VKH UHFRJQL]HG WKDW WKHUH LBV D XQLI\LQJ LPSXOVH .DWKOHHQ :LOOLDPV SRLQWV RXW WKDW 6SHQVHU XVHG WR EH UHn JDUGHG DV DW RQFH WRR PXFK DQG WRR OLWWOH RI DQ DUWLVW RYHUHODERUDWH LQ GHVFULSWLYH GHWDLO EXW DUWOHVV LQ FUHn DWLRQ )URP :DUWRQ RQH RI WKH HDUO\ FRPPHQWDWRUV ZKR FDWDORJXHG ZKDW KH FRQVLGHUHG WKH IDXOWV DQG LQFRQVLVWHQn FLHV LQ WKH SRHPA WR -RVHSKLQH :DWHUV %HQQHWW ZKR ILQGV UHDVRQV IRU WKH VRFDOOHG LQFRQVLVWHQFLHV E\ VKRZLQJ WKDW 6SHQVHUnV SODQV FKDQJHG ZKLOH KH ZDV ZULWLQJ WKH SRHPrr WKH FULWLFDO DSSURDFK KDV EHHQ DW OHDVW LPSOLFLWO\ QHJDn WLYH 7KH PRXQWLQJ LPSDWLHQFH ZLWK WUDGLWLRQDO UHDGLQJV RI 6SHQVHUnV DOOHJRU\ ZDV H[SUHVVHG TXLWH IRUFHIXOO\ E\ $ & +DPLOWRQ WKH UHDGHU IHHOV DQG ULJKWO\ WKDW KH KDV EHHQ EHWUD\HG LQWR D UHVSRQVH ZKLFK LV LUUHOHYDQW VWHULOH DQG

PAGE 14

PHDQLQJOHVVA ,QIOXHQFHG E\ 1RUWKURS )U\HnV DUFKHW\SDO DSSURDFKA 0U +DPLOWRQ KDV DWWHPSWHG WR HVWDEOLVK DQ HQn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n YLGH D FRPSOHWH DFFRXQW RI 6SHQVHUnV SRHP EXW E\ HPSKDVL]LQJ SUHYLRXVO\ RYHUORRNHG DXWRQRPRXV DUFKHW\SDO DVSHFWV KH GRHV OHQG VWURQJ FUHGHQFH WR WKH LGHD WKDW WKH IDXOW LV QRW LQ WKH SRHP EXW LQ RXUVHOYHV LQ RXU UHDGLQJ DQG WKLV LV D VLJQLILFDQW VWHS IRUZDUG $W WKH YHU\ OHDVW 0U +DPLOWRQnV UDGLFDO UHRULHQWDWLRQ RIIHUV HORTXHQW WHVWLPRQ\ WR WKH H[WUDRUGLQDU\ GHSWKV RI LQWR ZKLFK 6SHQVHULDQ FULWn LFLVP KDG IDOOHQ E\ WKH EHJLQQLQJ RI WKH nV &KDUDFWHULVWLF RI WKH QHZ DWWLWXGH WRZDUG WKH SRHP LV :LOOLDP 1HOVRQnV DGYLFH WKDW WKH UHDGHU KDYH IDLWK LQ WKH ERRN LWVHOI DQG LQ WKH JXLGLQJ VLJQV ZLWKLQ LW %\ IDLWK LQ WKH ERRN PHDQ D GLVSRVLWLRQ WR EHOLHYH WKDW ZKDWHYHU WKH KLVWRU\ RI LWV FRPSRVLWLRQ PD\ KDYH EHHQ WKH SRHP DV LW ZDV SUHVHQWHG WR 4XHHQ (OL]DEHWK LV QHLWKHU DQ LQFRKHUHQW DQG LPSUREDEOH WDOH ZRUWK UHDGLQJ RQO\ IRU WKH FKDUP RI LWV TXDLQW DQG GHOLFLRXV SDVVDJHV QRU D IDUUDJR RI ELWV DQG SLHFHV KDVWLO\ WKURZQ WRJHWKHU WR PDNH D YROXPH

PAGE 15

EXW OLNH 6SHQVHUnV RWKHU SRHPV D FDUHIXOO\ FRQVLGHUHG FRPSRVLWLRQ LQ ZKLFK WKHPH UDWKHU WKDQ IDEOH LV WKH FHQWUDO VWUXFWXUDO HOHPHQW $QG E\ IDLWK LQ LWV VLJQV PHDQ WKH EHOLHI WKDW 6SHQVHUnV DQQRXQFHPHQWV RI KLV LQWHQWLRQ ERWK LQ WKH WH[W LWVHOI DQG LQ WKH OHWWHU DGn GUHVVHG WR 6LU :DOWHU 5DOHJK ZKLFK ZDV DSSHQGHG WR WKH ILUVW HGLWLRQ DUH GHVLJQHG WR JLYH JUHDW OLJKW WR WKH 5HDGHU UDWKHU WKDQ WR PLVn OHDG KLP ,W ZRXOG KDUGO\ EH QHFHVVDU\ WR PDNH WKHVH DIILUPDWLRQV ZHUH LW QRW IRU WKH QXPEHU RI LQWHUSUHWHUV RI 7KH )DHULH 4XHHQH ZKR EHJLQ E\ GHQ\LQJ WKHPA $SSDUHQWO\ IRU WKH ILUVW WLPH FULWLFV KDYH EHJXQ WR WDNH 6SHQVHU DW KLV ZRUG ,QGHHG KH KLPVHOI IXOO\ DQWLFLSDWHG WKH SUREOHPV RI LQWHUSUHWDWLRQ WKDW KDYH EHVHW WKH SRHP 7KH SURHP WR %RRN ,, LV TXLWH VSHFLILF 5LJKW ZHOO ZRWH PLJKW\ 6RXHUDLQH 7KDW DOO WKLV IDPRXV DQWLTXH KLVWRU\ 2I VRPH WKnDERXQGDQFH RI DQ LGOH EUDLQH :LOO LXGJHG EH DQG SDLQWHG IRUJHU\ 5DWKHU WKDQ PDWWHU RI LXVW PHPRU\ 6LWK QRQH WKDW EUHDWKHWK OLXLQJ DLUH GRHV NQRZ :KHUH LV WKDW KDSS\ ODQG RI )DHU\ :KLFK VR PXFK GR YDXQW \HW QR ZKHUH VKRZ %XW YRXFK DQWLTXLWLHV ZKLFK QR ERG\ FDQ NQRZ ,, 3URHP Lf 6SHQVHU DGYLVHV WKH UHDGHU WR ORRN IRU FHUWDLQH VLJQHV 2I )DHULH ORQG \HW LI KH PRUH LQTXLUH %\ FHUWDLQH VLJQHV KHUH VHW LQ VXQGU\ SODFH +H PD\ LW ILQG QH OHW KLP WKHQ DGPLUH %XW \LHOG KLV VHQFH WR EH WRR EOXQW DQG EDFH 7KDW QRnWH ZLWKRXW DQ KRXQG ILQH IRRWLQJ WUDFH ,, 3URHP LYf %XW WKH WDVN IDFLQJ WKH UHDGHU RI 6SHQVHU LV D GLIn ILFXOW RQH IRU WKH VLJQHV KHUH VHW LQ VXQGU\ SODFH GR QRW DGPLW RI HDV\ LQWHUSUHWDWLRQ ,Q 7KH 9HLO RI 0LFKDHO 0XUULQ KDV VKRZQ WKDW WKH UHDVRQ WKH SRHP LV DV

PAGE 16

6SHQVHU VD\V LQ KLV OHWWHU WR 5DOHLJK D FRQWLQXHG $OOHJRU\ RU GDUNH FRQFHLW DQG FORZGLO\ HQZUDSSHG LQ $OOHJRULFDO GHXLVHV LV WKDW 7KH )DHULH 4XHHQH LV DQ HOLWLVW SRHP QRW LQWHQGHG IRU WKH XQLQLWLDWHG 7KLV LGHD LV ERUQH RXW E\ WKH IROORZLQJ OLQHV IURP WKH GHGLFDWRU\ VRQQHW WR /RUG %XUOHLJK 9QILWO\ WKHVH \GOH ULPHV SUHVHQW 7KH ODERU RI ORVW WLPH DQG ZLW YQVWD\G
PAGE 17

DUH H[SORUHG E\ 'RQ &DPHURQ $OOHQ LQ 0\VWHULRXVO\ 0HDQW 7KH 5HGLVFRYHU\ RI 3DJDQ 6\PEROLVP DQG $OOHJRULFDO ,QWHUSUHWDWLRQ LQ WKH 5HQDLVVDQFHA DQG E\ $QJXV )OHWFKHU LQ 7KH 3URSKHWLF 0RPHQW $Q (VVD\ RQ 6SHQVHUA )UDQFHV $
PAGE 18

WR VD\ WKHUHIRUH WKDW DOO DVSHFWV RI D SRHP LQ WKH SURn SKHWLF PRGH FDQQRW EH DWWULEXWHG WR FRQVFLRXV LQYHQWLRQ DORQH 6LQFH WKH XQFRQVFLRXV FDQQRW OLH WKH SRHW E\ FRQn VFLRXVO\ XVLQJ WKH ODQJXDJH RI WKH XQFRQVFLRXV ZLOO PDNH KLV SRHP VHUYH DV D YHKLFOH RI GLYLQH WUXWK 7KH DOOHJRU\ RI D ZRUN OLNH 7KH )DHULH 4XHHQH ZKLFK LV EDVHG RQ LQVLJKW V\PEROLVP UDWKHU WKDQ V\PEROLVP RI WKH DUELWUDU\DVVRFLDWLRQ W\SH ZKLFK DV +HOHQ )ODQGHUV 'XQEDU SRLQWHG RXW VRPH \HDUV DJR LV ZKDW DOOHJRU\ WRGD\ LV WUDGLn WLRQDOO\ XQGHUVWRRG WR EH LV D SULPH H[DPSOH RI ZKDW WKH 5HQDLVVDQFH ZRXOG KDYH UHJDUGHG DV PDJLF 7KLV LV FOHDU IURP WKH ZRUN RI VFKRODUV VXFK DV 3 :DONHUA FKDUOHV 1DXHUW -UDQG HVSHFLDOO\ (XJHQLR *DULQ ZKR KDYH H[DPLQHG WKH SV\FKRORJLFDO DVSHFWV RI 5HQDLVVDQFH PDJLF ,Qn GHHG EHFDXVH RI WKH RFFXOW LH KLGGHQf QDWXUH RI WKH XQFRQVFLRXV LWV DIIHFWV ZHUH FRQVLGHUHG SUHHPLQHQWO\ PDJLFDO 6SHQVHUnV PDWWHU RI LXVW PHPRU\ LV WKHUHIRUH D UHHQDFWPHQW RI WKH HWHUQDO GUDPD WKDW WDNHV SODFH LQ WKH SV\FKH LQ WKH UHDOP RI WKH QRQHJR DV SDUW RI WKH V\PEROLVP DVVRFLDWHG ZLWK WKH SURFHVV RI LQGLYLGXDWLRQA 6SHQVHUnV )DLU\ODQG LV DV 0U )OHWFKHU SRLQWV RXW LQ $OOHJRU\ 7KH 7KHRU\ RI D 6\PEROLF 0RGH D VSLULW ZRUOG ZKHUH DOO DUH HQJDJHG LQ IDWHG DFWLRQV ZKLFK DUH FKDUDFWHUL]HG E\ D UHDO ODFN RI IUHHGRP 7KLV LV WR VD\ WKDW WKH HYHQWV DQG FKDUDFWHUV LQ 7KH )DHULH 4XHHQH FRQIRUP WR WKH SDWWHUQLQJ RI WKH DUFKHn W\SHV RI WKH FROOHFWLYH XQFRQVFLRXV

PAGE 19

5HFHQW FULWLFLVP KDV LQFUHDVLQJO\ DFFHSWHG WKH IDFW WKDW WKH RQO\ ZD\ 7KH )DHULH 4XHHQH PDNHV VHQVH LV SV\FKRn ORJLFDOO\ ,QIOXHQFHV ZLOO GHWHUPLQH ZKDW IRUP D SDUWLn FXODU DUFKHW\SH ZLOO WDNH ZKHQ FRQVWHOODWHG EXW LI WKH ZRUN LV SURSKHWLF LW LV WKH SV\FKH LWVHOI DV DQ DXWRQRPRXV DJHQW ZKLFK ZLOO HVWDEOLVK WKH IXQGDPHQWDO UHODWLRQVKLSV -RKQ (UVNLQH+DQNLQV SRLQWV RXW WKDW LQ WKHVH GD\V RI SV\FKRn ORJLFDO VWXG\ ZH DUH SHUKDSV EHWWHU ILWWHG WR XQGHUVWDQG 7KH )DHULH 4XHHQH WKDQ ZHUH WKH SHRSOH RI DQ\ RWKHU SHULRG VLQFH 6SHQVHU ZURWH LW 3DXOLQH 3DUNHU KDV REVHUYHG WKDW WKH ZKROH DFWLRQ RI DOO VL[ ERRNV DQG DOO WKH ODQG RI IDHULH ZLWK LWV IRUHVWV FDVWOHV DQG VHDVKRUHV H[LVW LQ $UWKXUfV VRXO DQG WKHUH RQO\A 0U )OHWFKHU LQ KLV EULOOLDQW GLVn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f§DVSHFWV RI KLPVHOI ZKR EHFRPH WKH PHDQV E\ ZKLFK KH LV UHYHDOHG IDFHW E\ IDFHW

PAGE 20

3V\FKRORJLFDO DOOHJRU\ LV WKHUHIRUH DQ DXWRQRPRXV SURGXFW RI QDWXUH SDU H[FHOOHQFH IRU LW LV WKH ODQJXDJH RI WKH GUHDP ZRUOG WKH UHDOP RI WKH QRQHJR 0DQ\ FRPPHQWDWRUV KDYH UHPDUNHG WKDW 7KH )DHULH 4XHHQH KDV D GUHDPOLNH TXDOLW\ WR LW *UDKDP +RXJK SRLQWV RXW WKDW WKLV LV ZKDW DFFRXQWV IRU WKH IDFW WKDW D UHDGHU FDQ HQMR\ WKH SRHP ZLWKn RXW DFWXDOO\ XQGHUVWDQGLQJ LW WKH RUJDQL]DWLRQ RI >WKH SRHP@ LV SX]]OLQJ WKH UDPLILFDWLRQV KDUG WR IROORZ
PAGE 21

ILJKWLQJ D IDOFRQ VZRRSLQJ WR GHDWK RQ D KHURQnV ELOO WKHVH DUH IUHTXHQW FRPSDULVRQV $ VHFRQG JURXS FRQFHUQV LWVHOI ZLWK HOHPHQWDO IRUFHV WKH FRQWHVWV RI ZLQGV DQG ZDWHUV :KDW 0LVV 3DUNHU GHVFULEHV DV DQ LPSHUVRQDO VWUXJJOH LV LQ HIIHFW WKH SURFHVV E\ ZKLFK WKH SHUVRQDOLW\ DFKLHYHV LQGLYLGXDWLRQ D SURFHVV WKDW JRHV RQ LQ WKH XQn FRQVFLRXV DQG V\PEROLFDOO\ UHSUHVHQWV WKH VSLULWXDO JURZWK RI WKH LQGLYLGXDO 0U +RXJK LV TXLWH DFFXUDWH ZKHQ KH VWDWHV WKDW ZH FDQ FRPSDUH 7KH )DHULH 4XHHQH WR D SDJH RI PHGLHYDO LOOXPLQDWLRQ ZKLFK H[KLELWV D KDUPRQLRXV WH[WXUH EULJKW DQG GHOLFDWH GHWDLO HYHU\ZKHUH PDQ\ LQGLYLGXDO PLQLn DWXUHV ZKLFK PXVW EH ORRNHG DW VHSDUDWHO\f§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n ORJ\ WR D VL[WHHQWKFHQWXU\ SRHP VRPH VFKRODUV KDYH WULHG WR DFFRXQW IRU 6SHQVHUnV DFFXUDWH GHSLFWLRQ RI VXEWOH DQG VRSKLVWLFDWHG SV\FKRORJLFDO UHODWLRQVKLSV E\ H[DPLQLQJ WKH OLWHUDWXUH RI ZKDW KDV WUDGLWLRQDOO\ EHHQ WHUPHG (OL]DEHWKDQ SV\FKRORJ\ 7KLV DSSURDFK KDV KRZHYHU SURYHG IUXLWOHVV 3ULVFLOOD + %DUQXP FRQFOXGHV KHU DWWHPSW WKXV

PAGE 22

7KH MRXUQH\ RI WKH 5HGFURVVH NQLJKW FRQVLGHUHG VROHO\ IURP WKLV SRLQW RI YLHZ IDU WUDQVFHQGV DQ\WKLQJ WKDW FDQ EH GLVFRYHUHG LQ FRQWHPSRUDU\ VL[WHHQWKFHQWXU\ SV\FKRORJLFDO ZULWLQJ ZKLFK DV KDV EHHQ VDLG KDV DWWDLQHG QR LQVLJKW LQWR WKH GHYHORSPHQWDO RU G\QDPLF DVSHFWV RI WKH PLQG 7KH HDVH DQG FRQVLVWHQF\ ZLWK ZKLFK PDQ\ RI WKH HYHQWV RI WKH )DHULH 4XHHQH FDQ EH GHVFULEHG LQ WHUPV RI SUHVHQWGD\ SV\FKRORJLHV LQGLFDWH D PLQXWH DZDUHn QHVV RQ 6SHQVHUnV SDUW RI WKH LQWHUDFWLRQ EHWZHHQ WKRXJKW DQG IHHOLQJ ZKLFK QR DPRXQW RI VWXG\ RI WKH OLWHUDWXUH RQ WKH IDFXOWLHV RI WKH VRXO FRXOG KDYH LPSDUWHG WR KLPA6 7KH SUREOHP VHHPV WR EH WKDW WKH FRQFHSW RI (OL]DEHWKDQ SV\FKRORJ\ ZKLFK VFKRODUV VXFK DV 5XWK / $QGHUVRQ KDYH WULHG WR DSSO\ WR 6KDNHVSHDUHn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n ODULW\ WKH\ DUH VFKRODUO\ WUHDWLVHV ZULWWHQ IRU DQ HWKLFDO SXUSRVH7KXV RQH RI WKH IHZ VRXUFH VWXGLHV WKDW FRQWULEXWHV WR D EHWWHU XQGHUVWDQGLQJ RI WKH DOOHJRU\ RI 6SHQVHUnV SRHP ILQGV WKH LQIOXHQFH QRW DPRQJ WKH REYLRXV SV\FKRORJLFDO WUHDWLVHVVXFK DV WKRVH RI 5RJHUV :ULJKW :DONLQJWRQ &KDUURQ &RHIIHWHDX %XUWRQ 5H\QROGV %ULJKW RU 'DYLHVAf§EXW WKH 9QLXHUVD 3KLORVRSKLD GH 0RULEXV f RI )UDQFHVFR 3LFFRORPLQL

PAGE 23

,Q VHYHUDO RI WKH GLVFXVVLRQV RI (OL]DEHWKDQ SV\FKRn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n WKLQJ HOVH DV D QHFHVVDU\ SDUW RI WKH WRWDO PLFURn FRVP RI KLV SRHP 6RPH DVSHFWV RI +HUPHWLFLVP FHUn WDLQO\ DSSHDOHG WR KLP LQ SDUWLFXODU LWV FODLP WR WUDQVFHQG WKH GLVFRUGV RI MDUULQJ UHOLJLRQV DQG UHOLJLRXV VHFWV ,W ZDV WKH PRVW V\QFUHWLF IRUP RI 5HQDLVVDQFH UHOLJLRQ VLQFH LW FODLPHG WR EH WKH RULJn LQDO VRXUFH IURP ZKLFK DOO VXEVHTXHQW UHOLJLRQV VSUDQJ SDJDQ RU &KULVWLDQ DOLNH DQG 7KH )DHULH 4XHHQH KDV WKH VDPH DOOHPEUDFLQJ TXDOLW\ 0U )OHWFKHU LQ KLV GLVFXVVLRQ RI WKH +HUPHWLF 0DWUL[ LQ WKH SRHP GRHV PRUH WKDQ VSHFXODWH KH WDNHV WKH +HUPHWLF

PAGE 24

LQIOXHQFHV IRU JUDQWHG WKH +HUPHWLF VW\OH RI SURSKHF\ VXPV XS WKH LQIOXHQFH RI DOO SURSKHWLF WHQGHQFLHV ZLWKLQ WKH HSLF WKH +HUPHWLF PRGH RI WKRXJKW SURn YLGHV D PHDVXUH RI KLV VW\OH DQG YLVLRQDU\ LQWHQn VLW\ 2QO\ E\ ZDQWLQJ WR JR EH\RQG PHDQLQJ FDQ WKH SRHW DFKLHYH D WUXO\ IUHH YLVLRQ ZKLFK WKURXJK KLV DEVROXWH FRQWURO RI QXPEHU 6SHQVHU V LQ D PDQQHU ZH PD\ ORRVHO\ FDOO +HUPHWLF 0LVV
PAGE 25

6SHQVHULDQ VFKRODUVKLS LV WKH WHQGHQF\ RI VRPH FULWLFV WR GHQ\ WKH YDOLGLW\ RI WKHVH UHODWLRQVKLSV HYHQ ZKHQ WKHLU JRRG MXGJPHQW UHFRJQL]HV WKDW WKH SDWWHUQV H[LVW $ W\SLFDO H[DPSOH LV ) .HUPRGHnV FRPSDULVRQ RI %RRN RI 7KH )DHULH 4XHHQH ZLWK + /DZUHQFHnV /DG\ &KDWWHUOH\nV /RYHU ZKLFK KH VD\V LV WKH RQO\ PRGHUQ ZRUN RI ILFWLRQ NQRZQ WR PH ZKLFK DOVR FRPPHQWV XSRQ WKH VWDWH RI WKH QDWLRQ LQ WHUPV RI WKH $SRFDO\SVHVLQFH /DZUHQFH ZDV GHHSO\ LQWHUHVWHG LQ WKH RFFXOW DQG LQ +HUPHWLF LQWHUSUHWDWLRQV RI 6FULSWXUH WKH FRPSDULVRQ ZLWK 6SHQVHU LV YHU\ DSW 7KRXJK LW FDQ EH VKRZQ b WKDW 6SHQVHU DQG /DZUHQFH PDNH VLPLODU XVH RI WKH DSRFDO\SWLF LPDJHV 0U .HUPRGH FRQWHQGV WKDW /DZUHQFH XVHV WKHP LQ D UHYHDOLQJO\ GLIIHUHQW ZD\ IURP 6SHQVHU %HFDXVH 0U .HUPRGH EULQJV WRJHWKHU VRPH YDOXDEOH LQIRUPDWLRQ VKDOO TXRWH DW OHQJWK >/DZUHQFH@ GHYHORSHG LQ WKH HDUO\ nV D QHZ LQWHUHVW LQ WKH RFFXOW PHDQLQJ RI 5HYHODWLRQ ,Q KH ZURWH VRPH DUWLFOHV DERXW LW +LV VSHFLDO 7KH 3OXPHG VXFK PDWWHUV DV WKH *UHDW )ROORZLQJ@ IURP KLV EHOLHI LQ XVLQJ V\PEROV WKDW DUH QRW RQO\ DUFKDLF EXW YHLOHGf§LV WKH GLUHFW UHODWLRQ EHWZHHQ WKH DPRURXV DFWLRQ RI /DG\ &KDWWHUOH\ DQG /DZUHQFHnV H[SRVLWLRQ RI WKH 2SHQLQJ RI WKH 6HDOV 7KHVH VHDOV

PAGE 26

KH KHOG ZHUH WKH VHYHQ FHQWUHV RU JDWHV RI nG\QDPLF FRQVFLRXVQHVVn 7KH ROG $GDP GLHV LQ VHYHQ VWDJHV DW WKH FOLPDFWLF VHYHQWK KH LV DOVR UHERUQ /DZUHQFH GHYHORSV WKLV LGHD LQ WHUPV RI LQLWLDWLRQ ULWXDO WKH RSHQLQJ RI WKH ODVW VHDO LV FRPSDUHG WR nD VWDUN IODPH FORWKHG DQHZn LQ +DGHV n7KHQ WKH ILQDO IODPH SRLQW RI WKH HWHUQDO VHOI RI D PDQ HPHUJHV IURP KHOOn DQG ILQDOO\ WKLV PRPHQW LV UHODWHG WR WKH HPHUJHQFH RI WKH LQLWLDWH IURP WKH JRGGHVVnV WHPSOH GD]HG DQG HFVWDWLF 7KH SDUDOOHOV EHWZHHQ >/DG\ &KDWWHUOH\nV@ DVVRFLDWLRQ ZLWK 0HOORUV DQG WKH 2SHQLQJ RI WKH 6HDOV DUH YHU\ FORVH 7KHUH DUH VHYHQ VH[XDO HQFRXQWHUV LQ WKH QRYHO WKH HLJKWK RFFXUV GXULQJ D EULHI UHXQLRQ LQ /RQGRQ RXW RI VHULHVf WKH VHYHQWK LV nWKH VLJQLILFDQW HSLVRGHn WKLV HQFRXQWHU LV GLIIHUHQW IURP LWV SUHGHFHVVRUV WKH VHYHQWK VWDJH RI WKH SURn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n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

PAGE 27

DOORZHG KLPVHOI WR EH EOLQGHG E\ KLV SUHMXGLFHV KH FRQIHVVHV WKDW DP KHUH FRQFHUQHG ZLWK ZKDW FRQVLGHU WR EH WKH VKDEELHVW DVSHFW RI /DZUHQFHnV PLQG LWV GDUN VLGH DQG KH DVVXUHV XV WKDW 6SHQVHU RQ WKH RWKHU KDQG VKDUHG WKH RIILFLDO KRUURU RI VHFWV VXVSHFWHG RI OLEHUWLQLVP 3RLQWn LQJ RXW WKDW WKH ZDUULRU nIDLWKIXOO WUXHn PHDQV PRUH LQ 6SHQVHU WKDQ /DZUHQFH FRXOG FRQFHLYH 0U .HUPRGH PDNHV DQ HORTXHQW EXW LURQLF SOHD IRU D EHWWHU XQGHUVWDQGLQJ RI 7KH )DHULH 4XHHQH WKH PHWKRGV E\ ZKLFK ILQG D HUn V DV WKH :H QHHG D EHWWHU XQGHUVWDQGLQJ RI WKLV VREHU DQG FRQILGHQW KXPDQLW\ RI SURYLGHG FRQWH[WV LQ ZKLFK WKH DUFQHU\SHV QQD D SUHVHQW PHDQLQJ 6XFK DQ XQGHUVWDQGLQJ UHTXLUHV GRXEOH HIIRUWf§ZH PXVW VWXG\ WKH FDXVHV RI H[FOXVLRQ IURP RXU VHULRXV UHDGLQJ DV ZHOO WH[WV DQG FRQWH[WV RI 7KH )DHULH 4XHHQH LWVHOI 6LQFH KDYH XVHG /DZUHQFH DV W\SLFDO RI EHOLHIV DQG DWWLWXGHV GHSORUH PD\ ZHOO HQG ZLWK RQH VHQWHQFH LQ $SRFDO\SVH ZKLFK P\ DUJXPHQW HQGRU n7KH $SRFDO\SVH LV VWLOO D ERRN WR FRQMXUH ZLWKn 3HUKDSV WKH VSLULW RI 6SHQVHU ZLOO RQH GD\ FRQVHQW WR EH FDOOHG +DG 0U .HUPRGH IROORZHG KLV RZQ DGYLFH KH ZRXOG KDYH GLVn FRYHUHG WKDW 6SHQVHU GLG LQGHHG PDNH XVH RI EHOLHIV DQG DWWLWXGHV VLPLODU WR WKRVH RI /DZUHQFH 7KH\ ZHUH IRXQG LQ WKH VSHFLHV RI +HUPHWLVP NQRZQ DV 5HQDLVVDQFH DOFKHP\ 7KH SXUSRVH RI WKLV VWXG\ LV WR SURYLGH DQ DQVZHU WR WKH TXHVWLRQ TXRWHG DW WKH EHJLQQLQJ RI WKH FKDSWHU FRQFHUQ LQJ WKH LPSXOVH WKDW JDYH 6SHQVHUnV SRHP LWV VXEVWDQFH DQG IRUP VKDOO GHPRQVWUDWH WKDW WKH RUJDQL]LQJ SULQFLSOH RI 7KH )DHULH 4XHHQH LV LPSOLFLW LQ IRUPV RI WKRXJKW DVVRFLDWHG ZLWK WKH +HUPHWLF P\VWHULHV HVSHFLDOO\ DV VHW IRUWK LQ

PAGE 28

5HQDLVVDQFH HVRWHULF DOFKHP\ VKDOO VKRZ WKDW HVRWHULF DOFKHP\ ZDV D VSLULWXDO GLVFLSOLQH D NLQG RI VXEMHFWLYH SV\FKRWKHUDS\ ZKLFK WR WKRVH DEOH WR XQUDYHO WKH DUFDQH V\PEROLVP SURYLGHG D SV\FKRORJLFDO YRFDEXODU\ QR OHVV WKDQ WKDW RI PRGHUQ GHSWK SV\FKRORJ\ $QG ILQDOO\ DIWHU H[DPLQLQJ WKH HVRWHULF WUDGLWLRQ ZLWKLQ WKH (OL]DEHWKDQ FXOWXUDO PLOLHX SDUWLFXODUO\ DV LW LPSLQJHV RQ 6SHQVHU DQG KLV FLUFOH RI DVVRFLDWHV VKDOO SUHVHQW D V\VWHPDWLF DOFKHPLFDO LQWHUSUHn WDWLRQ ZLWK FRUUHVSRQGLQJ SV\FKRORJLFDO DQDO\VLVf RI %RRN RI 7KH )DHULH 4XHHQH :KLOH WKH DSSURDFK WDNHQ LQ WKLV VWXG\ LV XQRUWKRGR[ WKH SUDFWLFDO DGYDQWDJHV ZLOO WKLQN VSHDN IRU WKHPVHOYHV 1RW RQO\ DP DEOH WR VXJJHVW SODXVLEOH VROXWLRQV WR FULWLFDO SUREOHPV ZKLFK KDYH EHHQ UHJDUGHG SUHYLRXVO\ DV LQVROXEOH EXW E\ VKRZLQJ WKDW DOFKHP\ VHUYHG DV D SV\FKRWKHUDSHXWLF GLVFLSOLQH DP DEOH WR H[SODLQ KRZ D ZRUN OLNH 7KH )DHULH 4XHHQH FRXOG IXQFWLRQ DV D PDJLFDO SRHP FDSDEOH RI HIIHFWn LQJ WKH SV\FKRORJLFDO WUDQVIRUPDWLRQ RI D FORZQ LQWR D JHQWOHPDQ )XOO DSSUHFLDWLRQ RI 6SHQVHUnV PDVWHUSLHFH LV ORQJ RYHUGXH WKLQN LW LV WLPH WR GHVWUR\ WKH GUDJRQ DQG UHVWRUH WKH NLQJGRP WR YLWDOLW\

PAGE 29

127(6 5RVHPDU\ )UHHPDQ 7KH )DHULH 4XHHQH $ &RPSDQLRQ IRU 5HDGHUV %HUNHOH\ f S .DWKOHHQ :LOOLDPV 6SHQVHUnV :RUOG RI *ODVV %HUNHOH\ f S [L 7KH :RUNV RI (GPXQG 6SHQVHU $ 9DULRUXP (GLWLRQ HG (GZLQ *UHHQODZ HW DO %DOWLPRUH f $OO FLWDWLRQV IURP WKLV HGLWLRQ -RVHSKLQH :DWHUV %HQQHWW 7KH (YROXWLRQ RI 7KH )DHULH 4XHHQH 1HZ
PAGE 30


PAGE 31

V\PEROLF LQ WKH VDPH JHQHUDO ZD\ RI WKH G\QDPLFV RI WKH SV\FKH %XW LQ WKH GUHDP WKH IRUPV DUH TXLUNHG E\ WKH SHFXOLDU WURXEOHV RI WKH GUHDPHU ZKHUHDV LQ P\WK WKH SUREOHPV DQG VROXWLRQV VKRZQ DUH GLUHFWO\ YDOLG IRU DOO PDQNLQG T & -XQJ $OFKHPLFDO 6WXGLHV 7KH &ROOHFWHG :RUNV RI & -XQJ 9RO ;,,, 1HZ
PAGE 32

$QJXV )OHWFKHU $OOHJRU\ 7KH 7KHRU\ RI D 6\PEROLF 0RGH ,WKDFD f S A6HH EHORZ S II -RKQ (UVNLQH +DQNLQV 6RXUFH DQG 0HDQLQJ LQ 6SHQVHUnV $OOHJRU\ 2[IRUG f S 3DXOLQH 3DUNHU 7KH )DHULH 4XHHQH 2[IRUG f S )OHWFKHU $OOHJRU\ SS *UDKDP +RXJK $ 3UHIDFH WR 7KH )DHULH 4XHHQH 1HZ
PAGE 33

)UDQFLV 5 -RKQVRQ (OL]DEHWKDQ 'UDPD DQG WKH (OL]DEHWKDQ 6FLHQFH RI 3V\FKRORJ\ (QJOLVK 6WXGLHV 7RGD\ HG & / :UHQQ DQG %XOORXJK 2[IRUG f S )RUHVW S &I 5REHUW (OOURGWnV GHILQLWLRQ RI 1HRSODWRQLVP =RURDVWHU 3\WKDJRUDV WKULFHJUHDW +HUPHVn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f S f n (YDQV SS )OHWFKHU 3URSKHWLF 0RPHQW S
PAGE 34

&+$37(5 ,, (627(5,& $/&+(0< $6 68%-(&7,9( 36<&+27+(5$3< 7KH YHU\ UHFHQW GLVFRYHU\ WKDW HVRWHULF DOFKHP\ LV DFWXDOO\ ZKDW ZH ZRXOG WHUP D SV\FKRWKHUDSHXWLF GLVFLSOLQH LV VWDUWOLQJ HQRXJK HYHQ PRUH DVWRQLVKLQJ KRZHYHU LV WKH IDFW WKDW WKHUH LV HVVHQWLDOO\ QR GLVDJUHHPHQW EHWZHHQ WKH SV\FKRORJ\ RI WKH XQFRQVFLRXV DV VHW IRUWK LQ WKH ZULnWLQJV RI & -XQJ DQG WKH UHODWLRQVKLSV LPSOLFLW VLQFH DQWLTXLW\ LQ WKH V\PEROLF OLWHUDWXUH RI HVRWHULF DOFKHP\ 7KH SXUSRVH RI WKH SUHVHQW FKDSWHU LV WR JLYH VRPH LGHD RI WKH DYDLODn ELOLW\ DQG FKDUDFWHULVWLFV RI DOFKHPLFDO OLWHUDWXUH WR VKRZ KRZ WKH PRGHUQ UHGLVFRYHU\ RI DOFKHP\ FDPH DERXW WR H[SODLQ WKH UHODWLRQVKLS RI DOFKHP\ WR P\VWLFLVP P\WK UHOLJLRQ DQG LQGHHG PRGHUQ SV\FKRWKHUDS\ DQG ILQDOO\ WR VNHWFK RXW VRPH RI WKH EDVLF FRQFHSWV RI DOFKHP\ $OFKHP\ ZKLFK KDV H[LVWHG IRU DERXW WZR WKRXVDQG \HDUV KDV JLYHQ ULVH WR D YDVW DQG XQWLO UHFHQWO\ SX]]OLQJ OLWHU DWXUHr $V DQ RFFXOW VFLHQFH DOFKHP\ KDV DOZD\V EHHQ P\Vn WHULRXV DQG HQLJPDWLF HYHQ WR WKH DOFKHPLVWV WKHPVHOYHV DQG RQO\ D IHZ KDYH HYHU DFKLHYHG PRUH WKDQ DQ LQWXLWLYH XQGHUn VWDQGLQJ RI LWV SV\FKRORJLFDO LPSOLFDWLRQV :H QRZ KDYH FULWLFDO WRROV DW RXU GLVSRVDO ZKLFK PDNH SRVVLEOH D FOHDUHU

PAGE 35

LQVLJKW LQWR WKH WKHRUHWLFDO UHODWLRQVKLSV RI DOFKHP\ WKDQ HYHU EHIRUH WKRXJK IRU VFKRODUO\ LQYHVWLJDWLRQ RI WKH OLWn HUDWXUH LWVHOI WKH DYDLODELOLW\ RI SULPDU\ PDWHULDOV UHPDLQV WURXEOHVRPH DOFKHPLFDO ERRNV DQG PDQXVFULSWV DUH UDUH DQG RIWHQ LQDFFHVVLEOH DQG WKHUH LV D VFDUFLW\ RI PRGHUQ HGLn WLRQV DQG WUDQVODWLRQVr 7KH PRUH UHFHQW VHFRQGDU\ VRXUFHV KRZHYHU DUH XVHIXO DQG KHUH WKH UHDGHU ZLOO ILQG VXPPDULHV DQG H[FHUSWV IURP DOFKHPLFDO FODVVLFV DQG LQGHHG VHYHUDO RI WKH VKRUWHU WUHDWLVHV DUH UHJXODUO\ TXRWHG LQ WKHLU HQn WLUHW\ 7KH WZHQWLHWK FHQWXU\ KDV LQ IDFW VHHQ D GUDPDWLF UHn YLYDO RI VFKRODUO\ LQWHUHVW LQ DOFKHP\ LW LV QRZ JHQHUDOO\ UHFRJQL]HG WKDW WKHUH ZDV HVRWHULF DV ZHOO DV WKH PRUH IDPLOn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f§IURP ZKHQ KH SXEn OLVKHG KLV ILUVW DOFKHPLFDO FRPPHQWDU\ WKURXJK ZKHQ DW WKH DJH RI HLJKW\ KH FRPSOHWHG WKH PRQXPHQWDO 0\VWHULXP

PAGE 36

&RQLXQFWLRQLV ZKLFK UHSUHVHQWV WKH VXPPDWLRQ RI KLV SUHYLRXV VWXGLHV *HUDUG +H\P LQ KLV UHYLHZ RI 0\VWHULXP &RQLXQF WLRQLV UHJDUGV WKLV ZRUN DV D NH\ ZKLFK PD\ ILQDOO\ PDNH LW SRVVLEOH WR ZULWH LQWHOOLJHQW FRPPHQWDULHV RI ZKDW KDYH KLWKHUWR EHHQ XQLQWHOOLJLEOH DOFKHPLFDO DEVXUGLWLHV %\ UHDGLQJ DQG VWXG\LQJ DOPRVW HYHU\ DYDLODEOH DOFKHPLn FDO WH[WDQG OHW LW EH VDLG KHUH WKDW LW LV WKH ILUVW WLPH LQ WKH ORQJ KLVWRU\ RI DOFKHP\ WKDW D VLQJOH SHUVRQ DQG KLV DVVRFLDWHV KDYH UHDG VR PDQ\ WH[WV f§ 3URIHVVRU -XQJ KDV FHUWDLQO\ PRUH WKDQ DQ\ PRGHUQ VFKRODU FRQWDFWHG WKH PLQGV RI WKH DOFKHPLVWV DQG WKH PHWKRG RI WKHLU ORJLF IRU WKH DOFKHPLVWV ZHUH HUHFW DQ HGLILFH RI ZKDW FDQ EH FDOOHG WRGD\ SDUDn SV\FKRORJ\ 3URIHVVRU -XQJ KDV JLYHQ XV D OH[LFRQ RI DOFKHPLFDO WHUPLQRORJ\ PRUH SURIRXQG DQG PRUH H[DFW WKDQ WKH SXUHO\ OLWHUDU\ DSSURDFK WR WKH VXEn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nV $OFKHPLFDO /H[LFRQ WKH /DWLQ RULJLQDO RI WKLV IDPRXV ZRUN ZDV SXEOLVKHG LQ )UDQNIXUW LQ f ZH ILQG XQGHU 0HWKRGV RI ,QWHUSUHWDWLRQ WKH IROORZLQJ HQWU\ 7KH V\PEROV DQG DOOHJRULFDO ODQJXDJH PDGH XVH RI E\ WKH KHUPHWLF SKLORVRSKHUV OHQG WKHPVHOYHV UHDGLO\ WR LQWHUSUHWDWLRQV ZKLFK KDYH QR FRQQHFWLRQ ZLWK SK\VLFDO FKHPLVWU\ 8QGHU WKLV WUHDWPHQW WKH 3KLORVRSKHUnV

PAGE 37

6WRQH DVVXPHV D SXUHO\ PRUDO RU VSLULWXDO VLJQLILn FDQFH 2QH ZULWHU H[SODLQV LW DV IROORZV +H ZKR FDQ GLYH LQWR WKH GHSWKV RI KLV RZQ VRXO DQG SHQHn WUDWH WR LWV FHQWUH DYRLGLQJ WKH PRQVWHUV RI WKH GHHS WKH SDVVLRQVf ZKLFK JXDUG WKH P\VWHU\ DQG WKH ZDWHUQ\PSKV WKH GHVLUHVf ZKR HQGHDYRXU WR GLVWUDFW KLV DWWHQWLRQ ZLOO ILQG DW WKDW FHQWUH WKH MHZHO RI SULFHOHVV YDOXH WKH 3KLORVRSKHUn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n WR D IHZ ZRUGV WKH EDVLF SKHQRPHQRORJ\ RI WKH VSLULWXDO SURn FHVV GHSLFWHG V\PEROLFDOO\ LQ DOFKHP\ ,Q DQ HVVD\ RULJLQDOO\ SXEOLVKHG DV 'UHDP 6\PEROV RI WKH 3URFHVV RI ,QGLYLGXDWLRQ EXW ODWHU WLWOHG ,QGLYLGXDO 'UHDP 6\PEROLVP LQ 5HODWLRQ WR $OFKHP\ -XQJ SRLQWV RXW WKDW LQ WKH GUHDPV RI SDWLHQWV XQGHUJRLQJ SV\FKRWKHUDS\ WKHUH LV WKH VDPH NLQG RI V\PEROLVP DV WKDW IRXQG LQ DOFKHPLFDO ZULWLQJV ,QGHHG WKH VLPLODUn LW\ LV RIWHQ PRUH WKDQ MXVW V\PEROLF DV FDQ EH VHHQ IURP WKH IROORZLQJ GUHDP ZKLFK LV QHDUO\ LGHQWLFDO WR WKH DQDORJ\ TXRWHG LQ WKH 6XSSOHPHQW WR 5XODQGnV $OFKHPLFDO /H[LFRQ ,Q WKH VHD WKHUH OLHV D WUHDVXUH 7R UHDFK LW KH KDV WR GLYH WKURXJK D QDUURZ RSHQLQJ 7KLV LV GDQn JHURXV EXW GRZQ EHORZ KH ZLOO ILQG D FRPSDQLRQ 7KH GUHDPHU WDNHV WKH SOXQJH LQWR WKH GDUN DQG GLVFRYHUV D EHDXWLIXO JDUGHQ LQ WKH GHSWKV V\PPHWULFDOO\ ODLG RXW ZLWK D IRXQWDLQ LQ WKH FHQWUH 7KH HYHQW GHSLFWHG LQ HDFK RI WKHVH WZR LQVWDQFHV LV V\PEROLF RI ZKDW -XQJ KDV WHUPHG WKH SURFHVV RI LQGLYLGXDWLRQ

PAGE 38

r 0DULH/RXLVH YRQ )UDQ] -XQJnV FROOHDJXH DQG UHVHDUFK DVVLVWDQW GHVFULEHV WKH SURFHVV WKXV %\ REVHUYLQJ D JUHDW PDQ\ SHRSOH DQG VWXG\LQJ WKHLU GUHDPV KH HVWLPDWHG WKDW KH LQWHUSUHWHG DW OHDVW GUHDPVf -XQJ GLVFRYHUHG QRW RQO\ WKDW DOO GUHDPV DUH UHOHYDQW LQ YDU\LQJ GHJUHHV WR WKH OLIH RI WKH GUHDPHU EXW WKDW WKH\ DUH DOO SDUWV RI RQH JUHDW ZHE RI SV\FKRORJLFDO IDFWRUV +H DOVR IRXQG WKDW RQ WKH ZKROH WKH\ VHHP WR IROORZ DQ DUUDQJHPHQW RU SDWWHUQ 7KLV SDWWHUQ -XQJ FDOOHG WKH SURFHVV RI LQGLYLGXDWLRQ 6LQFH GUHDPV SURGXFH GLIIHUHQW VFHQHV DQG LPDJHV HYHU\ QLJKW SHRSOH ZKR DUH QRW FDUHIXO REVHUYHUV ZLOO SUREDEO\ EH XQn DZDUH RI DQ\ SDWWHUQ %XW LI RQH ZDWFKHV RQHnV RZQ GUHDPV RYHU D SHULRG RI \HDUV DQG VWXGLHV WKH HQWLUH VHTXHQFH RQH ZLOO VHH WKDW FHUWDLQ FRQWHQWV HPHUJH GLVDSSHDU DQG WKHQ WXUQ XS DJDLQ 0DQ\ SHRSOH HYHQ GUHDP UHSHDWHGO\ RI WKH VDPH ILJXUHV ODQGVFDSHV RU VLWXDWLRQV DQG LI RQH IROORZV WKHVH WKURXJK D ZKROH VHULHV RQH ZLOO VHH WKDW WKH\ FKDQJH VORZO\ EXW SHUn FHSWLEO\ 7KHVH FKDQJHV FDQ EH DFFHOHUDWHG LI WKH GUHDPHUnV FRQVFLRXV DWWLWXGH LV LQIOXHQFHG E\ DSSURn SULDWH LQWHUSUHWDWLRQ RI WKH GUHDPV DQG WKHLU V\PEROLF FRQWHQWV 7KXV RXU GUHDP OLIH FUHDWHV D PHDQGHULQJ SDWWHUQ LQ ZKLFK LQGLYLGXDO VWUDQGV RU WHQGHQFLHV EHFRPH YLVLn EOH WKHQ YDQLVK WKHQ UHWXUQ DJDLQ ,I RQH ZDWFKHV WKLV PHDQGHULQJ GHVLJQ RYHU D ORQJ SHULRG RI WLPH RQH FDQ REVHUYH D VRUW RI KLGGHQ UHJXODWLQJ RU GLUHFWLQJ WHQGHQF\ DW ZRUN FUHDWLQJ D VORZ LPSHUFHSWLEOH SURn FHVV RI SV\FKLF JURZWKWKH SURFHVV RI LQGLYLGXDWLRQ *UDGXDOO\ D ZLGHU DQG PRUH PDWXUH SHUVRQDOLW\ HPHUJHV DQG E\ GHJUHHV EHFRPHV HIIHFWLYH DQG HYHQ YLVLEOH WR RWKHUV 7KH IDFW WKDW ZH RIWHQ VSHDN RI DUUHVWHG GHYHORSPHQW VKRZV WKDW ZH DVVXPH WKDW VXFK D SURFHVV RI JURZWK DQG PDWXUDWLRQ LV SRVVLEOH ZLWK HYHU\ LQGLYLGXDO 6LQFH WKLV SV\FKLF JURZWK FDQQRW EH EURXJKW DERXW E\ D FRQVFLRXV HIIRUW RI ZLOO SRZHU EXW KDSSHQV LQYROXQWDULO\ DQG QDWXUDOO\ LW LV LQ GUHDPV IUHTXHQWO\ V\PEROL]HG E\ WKH WUHH ZKRVH VORZ SRZHUIXO LQYROXQWDU\ JURZWK IXOILOOV D GHILQLWH SDWWHUQ 7KH RUJDQL]LQJ FHQWHU IURP ZKLFK WKH UHJXODWRU\ HIIHFW VWHPV VHHPV WR EH D VRUW RI QXFOHDU DWRP LQ RXU SV\FKLF V\VWHP 2QH FRXOG DOVR FDOO LW WKH LQn YHQWRU RUJDQL]HU DQG VRXUFH RI GUHDP LPDJHV -XQJ FDOOHG WKLV FHQWHU WKH 6HOI DQG GHVFULEHG LW DV WKH WRWDOLW\ RI WKH ZKROH SV\FKH LQ RUGHU WR GLVWLQJXLVK LW IURP WKH HJR ZKLFK FRQVWLWXWHV RQO\ D VPDOO SDUW RI WKH WRWDO SV\FKH

PAGE 39

:H ZLOO KDYH JUDVSHG PXFK RI ZKDW DOFKHP\ LV DOO DERXW DV VRRQ DV ZH UHDOL]H WKDW WKH SXUSRVH RI WKH RSXV DOFK\PLFXP ZDV WR QXUWXUH DQG DFFHOHUDWH WKLV VDPH SURFHVV RI SV\FKLF JURZWK DQG ZKHUH SRVVLEOH WR EULQJ LW WR IUXLWLRQ 7KXV ZKHQ WKH DXWKRU RI WKH DOFKHPLFDO WUHDWLVH 7KH *ORU\ RI WKH :RUOG f GHVFULEHV WKH 3KLORVRSKHUnV 6WRQH KH LV DFWXDOO\ GHVFULELQJ WKH XQFRQVFLRXV >7KH 6WRQH@ LV IDPLOLDU WR DOO PHQ ERWK \RXQJ DQG ROG LV IRXQG LQ WKH FRXQWU\ LQ WKH YLOODJH LQ WKH WRZQ LQ DOO WKLQJV FUHDWHG E\ *RG \HW LW LV GHVSLVHG E\ DOO 5LFK DQG SRRU KDQGOH LW HYHU\ GD\ ,W LV FDVW LQWR WKH VWUHHW E\ VHUYDQW PDLGV &KLOGUHQ SOD\ ZLWK LW
PAGE 40

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nV SOD\ 7KRVH WR ZKRP *RG KDV UHYHDOHG +LV VHFUHWV PD\ LQGHHG ILQG WKH H[SHULPHQW VLPSOH DQG HDV\ %XW GR WKRX FDUHIXOO\ EHZDUH RI H[SRVLQJ WK\VHOI WR JUHDW GDQJHU E\ XQVHDVRQDEOH FDUHOHVVQHVV 5DWKHU EHJLQ WK\ ZRUN ZLWK UHYHUHQW IHDU DQG DZH DQG ZLWK HDUQHVW GDQJHU JUD\HU DQG WKHQ WKRX ZLOW EH LQ OLWWOH 7R XQGHUWDNH WKH RSXV DOFK\PLFXP LV WR VXEPLW WKH SV\FKH WR D YLROHQW FRQIURQWDWLRQ RI RSSRVLWHV -XQJ SRLQWV RXW WKDW WKLV DPRXQWV WR KDYLQJ YROXQWHHUHG WR GLH LQ RUGHU WR EHJHW D QHZ DQG IUXLWIXO OLIH LQ WKDW UHJLRQ RI WKH SV\FKH ZKLFK KDV KLWKHUWR ODLQ IDOORZ LQ GDUNHVW XQFRQVFLRXVQHVV DQG XQGHU VKDGRZ RI GHDWK(ULFK 1HXPDQQ SRLQWV RXW WKDW WKH DWWHPSW WR WUDQVIRUP WKH SHUVRQDOLW\ IURP ZLWKLQ E\ FRPSHOOLQJ WKH HJR WR LQWHUDFW ZLWK QXPLQRXV FRQWHQWV RI WKH XQFRQVFLRXVf§ ZKLFK LV ZKDW WKH DOFKHPLVWV DWWHPSWHG WR GRf§LV E\ GHILQn LWLRQ P\VWLFDO DQG IXQGDPHQWDOO\ KHUHWLFDO

PAGE 41

(YHU\ QXPLQRXV H[SHULHQFH ZKDWHYHU IRUP LW PD\ WDNH LV P\VWLFDO 7KH QXPLQRXV FRQWHQW SRVVHVVHV D IDVFLQDWLRQ D ULFKQHVV EH\RQG WKH SRZHU RI FRQn VFLRXVQHVV WR DSSUHKHQG DQG RUJDQL]H D FKDUJH RI HQHUJ\ VXUSDVVLQJ FRQVFLRXVQHVV +HQFH WKH HQFRXQWHU ZLWK LW OHDGV DOZD\V WR DQ XSKHDYDO RI WKH WRWDO SHUVRQDOLW\ DQG QRW RQO\ RI FRQVFLRXVQHVV ,Q HYHU\ FRQIURQWDWLRQ RI WKH HJR ZLWK WKH QXPLQRXV D VLWXDWLRQ DULVHV LQ ZKLFK WKH HJR JRHV RXWVLGH LWVHOI LW IDOOV RU LV ZUHQFKHG RXW RI LWV VKHOO RI FRQVFLRXVQHVV DQG FDQ UHWXUQ WR LWVHOI RQO\ LQ FKDQJHG IRUP f f f 7KH WUDQVIRUPDWLRQ RI WKH SHUVRQDOLW\ WKURXJK WKH DSSHDUDQFH RI WKH QXPHQ GHWDFKHV WKH HJR IURP LWV ROG V\VWHP RI FRQVFLRXVQHVV DQG DOVR IURP LWV ROG UHODWLRQ WR WKH ZRUOG EXW WKH SULFH IRU WKH FRQQHFWLRQ ZLWK WKH XQNQRZQ QXPHQ ZKLFK KROGV ZLWKLQ LW WKH SRVVLELOLW\ RI WKH FUHDWLYH LV UHQXQFLDWLRQ RI WKH VHFXULW\ SURn YLGHG E\ FRQVFLRXV RULHQWDWLRQ DQG HQWUDQFH LQWR WKH IXQGDPHQWDO SDUDGR[ RI WKH P\VWLFDO } f f 6LQFH WKH H[SHULHQFH RI WKH QXPLQRXV LV DOZD\V H[SHULHQFH RI WKH VHOI DQG RI WKH YRLFH ZKLFK EULQJV UHYHODWLRQ WKH HJR DIIHFWHG E\ LW FRPHV LQWR FRQIOLFW ZLWK WKH GRJPD DQG DJHQFLHV RI WKH GRPLQDQW FRQVFLRXVn QHVV 7KH FUHDWLYHP\VWLFDO H[SHULHQFH LV E\ QDWXUH RSSRVHG WR WKH GRPLQDQW UHOLJLRQ DQG WKH GRPLQDQW FRQVFLRXV FRQWHQWV RI WKH FXOWXUDO FDQRQWKDW LV WR VD\ LW LV LQ SULQFLSOH UHYROXWLRQDU\ DQG KHUHWLFDO A 'HVSLWH LWV KHUHWLFDO DVSHFW KRO\ DOFKHP\ ZDV UHJDUGHG E\ LWV DGHSWV DV WKH UHOLJLRQ EHKLQG DOO UHOLJLRQV ,QGHHG DQ\ PHGLDWLRQ EHWZHHQ WKH HJR DQG WKH XQFRQVFLRXV LV HVVHQn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

PAGE 42

RU ZLOO SUHWHQG WR KDYH H[SHULHQFHG FHUWDLQ LQn VLJKWV VHQWLPHQWV DQG FRPPLWPHQWV ,Q ZKDW DP FDOOLQJ FUHDWLYH P\WKRORJ\ RQ WKH RWKHU KDQG WKH RUGHU LV UHYHUVHG WKH LQGLYLGXDO KDV KDG DQ H[SHULHQFH RI KLV RZQRI RUGHU KRUURU EHDXW\ RU HYHQ PHUH H[KLODUDWLRQZKLFK KH VHHNV WR FRPn PXQLFDWH WKURXJK VLJQV DQG LI KLV UHDOL]DWLRQ KDV EHHQ RI D FHUWDLQ GHSWK DQG LPSRUW KLV FRPn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n WLDO WKDW WKHUH EH D FOHDU XQGHUVWDQGLQJ RI H[DFWO\ ZKDW WKH FRQFHSWV RI WKH DUFKHW\SH DQG WKH FROOHFWLYH XQFRQVFLRXV LPSO\ DQG RQ ZKDW EDVLV WKH\ KDYH EHHQ SRVWXODWHG 3V\FKLF H[LVWHQFH FDQ EH UHFRJQL]HG RQO\ E\ WKH SUHVHQFH RI FRQWHQWV WKDW DUH FDSDEOH RI FRQVFLRXVQHVV :H FDQ WKHUHIRUH VSHDN RI DQ XQFRQVFLRXV RQO\ LQ VR IDU DV ZH DUH DEOH WR GHPRQVWUDWH LWV FRQWHQWV 7KH FRQn WHQWV RI WKH SHUVRQDO XQFRQVFLRXV DUH FKLHIO\ WKH

PAGE 43

IHHOLQJWRQHG FRPSOH[HV DV WKH\ DUH FDOOHG WKH\ FRQVWLWXWH WKH SHUVRQDO DQG SULYDWH VLGH RI SV\FKLF OLIH 7KH FRQWHQWV RI WKH FROOHFWLYH XQFRQVFLRXV )RU EHn HQ WKH RWKHU KDQG DUH NQRZQ DV DUFKHW\SHV RXU SXUSRVHV LW WHOOV WKLV WHUP LV DSSRVLWH DQG KHOSIXO XV WKDW VR IDU DV WKH FROOHFWLYH FRQVFLRXV FRQWHQWV DUH FRQFHUQHG ZH DUH GHDOLQJ DUFKDLF RUf§, ZRXOG VD\f§SULPRUGLDO W\SHV WKDW ZLWK XQLYHUVDO LPDFUHV WKDW KDYH H[LVWHG VLQFH WKH XQ ZLWK LV UHPRWHVW WLPHV ZKDW WKH ZRUG DUFKHW\SH PHDQV WKHQ IRU LWV LQ WKH QRPLQDO VHQVH LV FOHDU HQRXJK UHODWLRQV ZLWK P\WK HVRWHULF WHDFKLQJ DQG IDLU\WDOH %XW LI ZH WU\ WR HVWDEOLVK ZKDW DQ DUFKHW\SH LV SV\FKRn ORJLFDOO\ WKH PDWWHU EHFRPHV PRUH FRPSOLFDWHG >$UFKHW\SHV@ FDQ EH VKRZQ WR EH LQKHULWHG LQVWLQFWV DQG SUHIRUPHG SDWWHUQV WKH ODWWHU EHLQJ D SULRUL DQG IRUPDO FRQGLWLRQV RI DSSHUFHSWLRQ WKDW DUH EDVHG RQ LQVWLQFW 7KHLU SUHVHQFH DLYHV WKH ZRUOG RI WKH FKLOG DQG WKH GUHDPHU 7KH\ SUHVHQFH JLYHV LWV DQWKURSRPRUSKLF VWDPS GLUHFW DOO IDQWDV\ DFWLYLW\ LQWR LWV DSSRLQWHG SDWKV LQ WKLV ZD\ SURGXFHLQ WKH IDQWDV\LPDJHV RI FKLOGUHQnV GUHDPV DV ZHOO DV LQ WKH GHOXVLRQV RI DQG VFKL]RSKUHQLD FDQ DOVR EH IRXQG VXFK DV WKRXJK GUHDPV RI QRUPDO SHUVRQV DQG LQ WKH DVWRQLVKLQJ P\WKRORJLFDO SDUDOOHOV LQ OHVVHU GHJUHH QHXURWLFV ,W LV QRW LQKHULWHG LGHDV EXW RI LQ 1RU DUH WKH\ LQGLYLGXDO XQFRQ RI ZKDW DV VWDWHPHQWV RI LV WKH TXHVWLRQ RI KHULWHG SRVVLELOLWLHV RI DFTXLVLWLRQV EXW LQ WKH PDLQ FRPPRQ WR DOO DV FDQ EH VHHQ IURP WKH XQLYHUVDO RFFXUUHQFH RI WKH DUFKHn W\SHV 0RGHUQ SV\FKRORJ\ WUHDWV WKH SURGXFWV RI VFLRXV IDQWDV\DFWLYLW\ DV VHOISRUWUDLWV JRLQJ RQ LQ WKH XQFRQVFLRXV RU XQFRQVFLRXV SV\FKH DERXW LWVHOI FDWHJRULHV )LUVW IDQWDVLHV LQFOXGLQJ GUHDPVf D SHUVRQDO FKDUDFWHU ZKLFK JR EDFN XQTXHVWLRQDEO\ SHUVRQDO H[SHULHQFHV WKLQJV IRUJRWWHQ RU UHSUHVVHG DQG FDQ WKXV EH FRPSOHWHO\ H[SODLQHG E\ LQGLYLGXDO DQDPQHVLV 6HFRQG IDQWDVLHV LQFOXGLQJ GUHDPVf RI DQ LPSHUVRQDO FKDUDFWHU ZKLFK FDQQRW EH UHGXFHG WR LQ WKH LQGLYLGXDOnV SDVW DQG WKXV FDQQRW DV VRPHWKLQJ LQGLYLGXDOO\ DFTXLUHG IDQWDV\LPDJHV XQGRXEWHGO\ KDYH WKHLU FORVHVW DQDORJXHV PXVW WKHUHIRUH DVVXPH WKDW 7KH\ IDOO LQWR WZR RI WR H[SHULHQFHV EH H[SODLQHG 7KHVH LQ P\WKRORJLFDO WKH\ FRUUHVSRQG W\SHV :H WR FHUWDLQ FROOHFWLYHDQG QRW SHUVRQDOf VWUXFWXUDO HOHPHQWV RI WKH KXPDQ SV\FKH LQ JHQHUDO DQG OLNH WKH PRUSKRORJLFDO HOHPHQWV RI WKH KXPDQ ERG\ LQKHULWHG $OWKRXJK WUDGLWLRQ DQG WUDQVPLVVLRQ E\ PLJUDWLRQ FHUWDLQO\ SOD\ D VDLG YHU\ PDQ\ FDVHV WKDW WKLV ZD\ DQG GULYH UHYLYDO SDUW WKHUH DUH DV ZH KDYH FDQQRW EH DFFRXQWHG IRU LQ XV WR WKH K\SRWKHVLV RI DXWRFKWKRQRXV 7KHVH FDVHV DUH VR QXPHURXV WKDW ZH DUH

PAGE 44

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nV 9LVLRQ ,Q WKH 6XSSOHPHQW WR 5XODQGn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

PAGE 45

P\VWHULHV WR XQGHUVWDQG WKHLU PHDQLQJ DQG RQH 3KLORn VRSKHU LV IUHTXHQWO\ FRQVLGHUDEO\ HPEDUUDVVHG WR H[SODLQ DQRWKHU LQ DQ\ FRPSOHWH DQG LQWHOOLJLEOH PDQQHU $Q DOFKHPLVW E\ WKH QDPH RI -RKQ &UHPHU FRPSODLQV WKDW KH VSHQW WKLUW\ \HDUV ZDVWHG LQ SHUXVLQJ WKH ZULWLQJV RI DXWKRUV ZKRVH ZKROH LQJHQXLW\ VHHPHG WR KDYH EHHQ FRQFHQWUDn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f SRLQWV RXW WKDW WKH WUHDVXUHV RI +HUPHV DUH QRW ODLG RSHQ LQ RQH ERRN SHUKDSV RQH ZULWHU PD\ UHQGHU FOHDU ZKDW DQRWKHU IDLOV WR H[SODLQ %DVLOLXV 9DOHQWLQXV VD\V

PAGE 46

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nV PHWKRGV LQ SURGXFLQJ WKH EXG DQG WKH IORZHU DQG LQ ULSHQLQJ WKH JUHHQ IUXLW \RX ZRXOG EH DEOH WR VHW \RXU KDQG WR WKH JHUPV ZKLFK 1DWXUH SURYLGHV LQ WKH ERZHOV RI WKH HDUWK DQG WR HGXFH IURP WKHP RU WKHLU VXEVWDQFHf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

PAGE 47

UDLVHG IURP WKH ORZHVW WR WKH KLJKHVW VWDJH RI GHYHORSn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n OHG IRU HYHU\RQH ZKR LV LJQRUDQW RI LW LV LWV HQHP\ DQG WKDW QRW ZLWKRXW FDXVH )RU 6SHFXODWRU VDLWK 7KH PRFNHU\ RI VFLHQFH LV WKH FDXVH RI LJQRUDQFH DQG OHWWXFHV DUH QRW WR EH JLYHQ WR DVVHV IRU WKLVWOHV VXIILFH WKHP QRU LV WKH FKLOGUHQn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

PAGE 48

7KHUH FDQ EH QR GRXEW WKDW PDQ\ RI WKH 3KLORVRSKHUV SURn EDEO\ WKH PDMRULW\ RI WKHP GHOLEHUDWHO\ VDLG OHVV DERXW WKHLU DUW WKHQ WKH\ PLJKW KDYH %XW EHFDXVH WKH 3KLORVRSKHUnV 6WRQH ZDVf§DV ZH QRZ NQRZ WKDQNV WR -XQJf§LQ WKH XQFRQn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nV $OFKHPLFDO /H[LFRQ LV QHDUO\ LGHQWLn FDO WR WKH GUHDP RI WKH PRGHUQ SDWLHQWf§D \RXQJ PDQ ZLWKRXW DQ\ NQRZOHGJH ZKDWVRHYHU RI DOFKHP\ RU UHODWHG DUHDVf§ XQGHUJRLQJ SV\FKRWKHUDS\ 7KLV PHDQV WKDW VLQFH GUHDPV GHSLFWLQJ WKH SURFHVV RI LQGLYLGXDWLRQ DUH DUFKHW\SDO DQG GHULYH IURP WKH FROOHFWLYH XQFRQVFLRXV DQ LQGLYLGXDO QRZ RU DW DQ\ WLPH SDVW RU IXWXUH FRXOG LQ HIIHFW UHFRQVWUXFW WKH EDVLF UHODWLRQVKLSV RI DOFKHP\ E\ DQDO\VLV RI WKH V\PEROLVP RI KLV RZQ GUHDPV 7KLV RI FRXUVH DFFRXQWV IRU

PAGE 49

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n QRORJ\ DQG ZD\ RI WKLQNLQJ %XW LI ZH WUHDW WKHLU V\PEROV LQ WKH VDPH ZD\ DV ZH WUHDW PRGHUQ IDQWDVLHV WKH\ \LHOG D PHDQLQJ VXFK DV ZH KDYH DOUHDG\ GHGXFHG IURP WKH SUREOHPDWLFDO PRGHUQ PDWHULDO 7KH REYLRXV REMHFWLRQ WKDW WKH PHDQLQJ FRQYH\HG E\ WKH PRGHUQ IDQWDV\PDWHULDO KDV EHHQ XQFULWLFDOO\ WUDQVIHUUHG WR WKH KLVWRULFDO PDWHULDO ZKLFK WKH DOFKHPLVWV LQWHUn SUHWHG TXLWH GLIIHUHQWO\ LV GLVSURYHG E\ WKH IDFW WKDW HYHQ LQ WKH 0LGGOH $JHV FRQIHVVHG DOFKHPLVWV LQWHUSUHWHG WKHLU V\PEROV LQ D PRUDO DQG SKLORVRSKLFDO VHQVH 7KHLU SKLORVRSK\ ZDV LQGHHG QRWKLQJ EXW SURMHFWHG SV\FKRORJ\ :H FDQ QRZ EULHIO\ H[DPLQH WKH EDVLF SRVWXODWHV RI DOFKHPLFDO WKHRU\ LQ WHUPV RI WKHLU PRGHUQ SV\FKRORJLFDO HTXLYDOHQWV 7KH ILUVW SULQFLSOH LV WKDW DOFKHPLFDO TXDOLWLHV KDYH D SRODU VWUXFWXUH HDFK WKLQJ EHDUV LQ LWVHOI LWV RSSRVLWH 7KH PRVWTXRWHG GRFXPHQW LQ DOFKHP\ WKH

PAGE 50

(PHUDOG 7DEOH RI +HUPHV 7ULVPHJLVWXV VWDWHV LW WKXV 7KDW ZKLFK LV DERYH LV OLNH WR WKDW ZKLFK LV EHORZ DQG WKDW ZKLFK LV EHORZ LV OLNH WR WKDW ZKLFK LV DERYH WR DFFRPSOLVK WKH PLUDFOHV RI RQH WKLQJ 7KH DOFKHPLFDO HOHPHQWV IRUP D TXDWHUQLW\ FRPSULVLQJ 6RO JROGf DQG /XQD VLOYHUf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f ZKLFK PD\ EH DV WKH IRXU RULHQWLQJ IXQFWLRQV E\ ZKLFK WKH FRQVFLRXV PLQG WDNHV LWV EHDULQJV LQ WKH XQSHUIHFWHG SV\FKH WKHUH LV UHOLDQFH RQ D VLQJOH GRPLQDQW IXQFWLRQ ZKLFK WKXV KDV PD[LPXP FRQVFLRXVQHVV DQG ZKLFK FKDUDFWHUL]HV WKH WKH IRXU LQGLYLGXDOnV SHUVRQDOLW\ W\SH WZR RI WKH IXQFWLRQV KDYH YDU\LQJ GHJUHHV RI XQFRQVFLRXVQHVV DQG WKH IRXUWK LV JHQHUDOO\ FRPSOHWHO\ XQFRQVFLRXVA 7KH RSXV DOFK\PLFXP PD\ EH GHVFULEHG DV D ZD\ RI EULQJLQJ WKH WKUHH QRQn GRPLQDQW IXQFWLRQV LQWR PD[LPXP FRQVFLRXVQHVV DORQJVLGH WKH GRPLQDQW IXQFWLRQ FHUWDLQO\ WKLV ZRXOG UHSUHVHQW D GUDPDWLF WUDQVIRUPDWLRQ RI SHUVRQDOLW\ IRU LI DOO IRXU IXQFWLRQV

PAGE 51

ZHUH FRQVFLRXV DQG LQ SURSHU HTXLOLEULXP ZH ZRXOG KDYH WKH SV\FKRORJLFDO GHVFULSWLRQ RI WKH 5HQDLVVDQFH 0DQf§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

PAGE 52

IRU WKLV LV WKH UHDOP RI WKH XQFRQVFLRXV DQG KHUH LQ FRQWUDVW WR FRQVFLRXVQHVV WKHUH DUH QR VKDUS GLVWLQFWLRQV 7KH XQFRQVFLRXV ZLWK LWV FDSDFLW\ IRU HOXVLYH VKDSHVKLIWLQJ LV DSWO\ VXPPHG XS LQ WKH ILJXUH RI 0HUFXULXV 6LQFH LQ KLV DOFKHPLFDO IRUP 0HUFXULXV GRHV QRW H[LVW LQ UHDOLW\ KH PXVW EH DQ XQFRQVFLRXV SURn MHFWLRQ DQG EHFDXVH KH LV DQ DEVROXWHO\ IXQGDPHQWDO FRQFHSW LQ DOFKHP\ KH PXVW VLJQLI\ WKH XQFRQVFLRXV LWVHOI +H LV E\ KLV YHU\ QDWXUH WKH XQFRQVFLRXV ZKHUH QRWKLQJ FDQ EH GLIIHUHQWLDWHG EXW DV D VSLULWXV YHJHWDWLYXV OLYLQJ VSLULWf KH LV DQ DFWLYH SULQFLSOH DQG VR PXVW DOZD\V DSSHDU LQ UHDOLW\ LQ GLIIHUHQWLDWHG IRUP +H LV WKHUHIRUH ILWWLQJO\ FDOOHG GXSOH[ ERWK DFWLYH DQG SDVVLYH +H LV E\ QDWXUH DQGURJ\QRXV DQG WKXV SDUWDNHV ERWK RI WKH PDVFXOLQH UHG VXOSKXU DQG RI WKH OXQDU VDOW +LV HTXLYDOHQW LQ WKH FHOHVWLDO UHDOP LV WKH SODQHWDU\ SDLU 6RO DQG /XQD DQG LQ WKH LQWHOOLJLEOH UHDOP &KULVW LQ KLV P\VWLFDO DQGURJ\Q\ WKH PDQ HQFRPSDVVHG E\ WKH ZRPDQ LH VSRQVXV DQG VSRQVD (FFOHVLDf 0HUFXULXV LV QRW RQO\ VSOLW LQWR D PDVFXOLQH DQG D IHPLQLQH KDOI EXW LV WKH SRLn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f DQG KRVWLOH WR WKH PDWWHU RI WKH VWRQH RQ WKH RWKHU KDQG ZKHQ FOHDQVHG RI DOO LPSXULWLHV LW LV WKH PDWWHU RI RXU VWRQH

PAGE 53

7KH QHJDWLYH DVSHFW RI 6XOSKXU LV WKH SV\FKRORJLFDO HTXLYDn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f§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n SK\VLFV KDV UHVHUYHG IRU LWVHOI (YHU\WKLQJ WKH DQLPD WRXFKHV EHFRPHV QXPLQRXVf§XQFRQGLWLRQDO GDQJHURXV WDERR PDJLFDO 6KH LV WKH VHUSHQW LQ WKH SDUDGLVH RI WKH KDUPOHVV PDQ ZLWK JRRG UHVROXWLRQV DQG VWLOO EHWWHU LQWHQWLRQV 6KH DIIRUGV WKH PRVW FRQYLQFLQJ

PAGE 54

IRU QRW SU\LQJ LQWR WKH XQFRQVFLRXV DQ RFFXSD WLRQ WKDW KDG EHWWHU EHHQ OHIW XQFRQVFLRXV DQG XQn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r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f LV LQGLFDWLYH &DOFLQDWLR 6ROXWLR (OHPHQWRUXP VHSDUDWLR &RQLXQFWLR 3XWUHIDFWLR &RDJXODWLR &LEDWLR

PAGE 55

6XEOLPDWLR )HUPHQWDWLR ([DOWDWLR $XJPHQWDWLR 3URLHFWLR 7KH HVVHQFH RI WKH DOFKHPLFDO DUW -XQJ GHVFULEHV WKXV $V LV LQGLFDWHG E\ WKH YHU\ QDPH ZKLFK KH FKRVH IRU LWf§WKH VSDJ\ULF DUWRU E\ WKH RIWUHSHDWHG VD\LQJ VROYH HW FRDJXOD GLVVROYH DQG FRDJXODWHf WKH DOFKHPLVW VDZ WKH HVVHQFH RI KLV DUW LQ VHSDUDWLRQ DQG DQDO\VLV RQ WKH RQH KDQG DQG V\QWKHVLV DQG FRQn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n JDWLRQ RI OLIH LPPRUWDOLW\ LQFRUUXSWLELOLW\f LWV DQGURJ\Q\ LWV VSLULWXDOLW\ DQG FRUSRUHDOLW\ LWV KXPDQ TXDOLWLHV DQG UHVHPEODQFH WR PDQ KRPXQFXOXVf DQG LWV GLYLQLW\ 6LQFH WKH DOFKHPLVWV PDNH FOHDU LQ WKHLU ZULWLQJV WKDW WKH RSXV DOFK\PLFXP LV WR EH XQGHUVWRRG DV D VSLULWXDO GLVFLSOLQH LW PD\ VHHP SX]]OLQJ WKDW WKH\ VKRXOG KDYH IHOW FRPSHOOHG WR UHPDLQ LQ WKH ODERUDWRU\ PDLQWDLQLQJ VRPHWLPHV WR WKH SRLQW RI H[KDXVWLRQ D SUD\HUIXO DQG VWXGLRXV YLJLO WKDW FRXOG RIWHQ ODVW IRU \HDUV $V -XQJ KDV VKRZQ WKH DOFKHPLVW ZDV H[SHULHQFLQJ DQG LQ KLV ZULWLQJV D QHFHVVDU\ SDUW RI WKH SURFHGXUHf GHVFULELQJ WKH HPRWLRQV DVVRFLDWHG ZLWK WKH TXHVW IRU SV\FKRORJLFDO ZKROHQHVV DQG WKH H[SDQVLRQV RI FRQVFLRXVQHVV ZnKLFK KH DFKLHYHG KH QDWXUDOO\ DWWULEXWHG E\ ZD\ RI SURMHFWLRQ WR WKH FKHPLFDO UHDFWLRQV LQ WKH UHWRUW

PAGE 56

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f +H H[SHULHQFHG KLV SURMHFWLRQ DV D SURSHUW\ RI PDWWHU EXW ZKDW KH ZDV LQ UHDOLW\ H[n SHULHQFLQJ ZDV KLV RZQ XQFRQVFLRXV ,Q D EULOOLDQW HVVD\ HQWLWOHG 7KH 3V\FKRORJ\ RI WKH b 7UDQVIHUHQFH f -XQJ GHPRQVWUDWHV E\ DQQRWDWLQJ D VHULHV RI V\PEROLF ZRRGFXWV FRQWDLQHG LQ WKH 5RVDULXP 3KLORVRSKRUXP f WKH IDFW WKDW DOFKHP\ GHVFULEHV QRW PHUHO\ LQ JHQHUDO RXWOLQH EXW RIWHQ LQ WKH PRVW DVWRQn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n ORJLFDO ZHOOEHLQJ RI WKHLU SDWLHQWV RU LQTXLUHG LQWR WKHLU GUHDPV IRU WKH SXUSRVH RI GLDJQRVLV SURJQRVLV DQG WKHUDS\f ,Q WKLV ZD\ WKH\ FRXOG FROOHFW LQIRUPDWLRQ RI D SV\FKRORJLFDO QDWXUH QRW RQO\ IURP WKHLU SDWLHQWV EXW DOVR IURP WKHPVHOYHV LH IURP WKH REVHUYDWLRQ RI WKHLU RZQ XQFRQVFLRXV FRQWHQWV ZKLFK KDG EHHQ DFWLYDWHG E\ LQGXFWLRQ

PAGE 57

$Q\RQH ZKR DSSURDFKHV -XQJnV WKHRUHWLFDO ZULWLQJV ZLWK D EURDG NQRZOHGJH RI DOFKHPLFDO OLWHUDWXUH ZLOO EH VRPHZKDW VWDUWOHG E\ WKH H[WHQW WR ZKLFK DQDO\WLF RU -XQJLDQf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n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

PAGE 58

DYRLGDEOH RI WKH WKLHI ZKRVH PDFKLQDWLRQV DUH LQ WUXWK XQn PD\ 'LDQD EH SURSLWLRXV WR WKHH ZKR NQRZHWK KRZ WR WDPH ZLOG EHDVWV DQG ZKRVH WZLQ GRYHV ZLOO WHPSHU WKH PDOLJQLW\ RI WKH DLU ZLWK WKHLU ZLQJV VR WKDW WKH \RXWK HDVLO\ HQWHUHWK LQ WKURXJK WKH SRUHV DQG LQVWDQWO\ VKDNHWK WKH IRXQGDWLRQV RI WKH HDUWK DQG ULVHV XS D GDUN FORXG %XW WKRX ZLOW OHDG WKH ZDWHUV XS HYHQ WR WKH EULJKWQHVV RI WKH PRRQ DQG WKH GDUNQHVV WKDW ZDV XSRQ WKH IDFH RI WKH GHHS VKDOO EH VFDWWHUHG E\ WKH VSLULW PRYLQJ RYHU WKH ZDWHUV 7KXV E\ *RGn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cYH DV D VHOIVXIILFLHQW IXQFWLRQWKDW PDQ ZDV QRW LQWHQGHG WR EH RQO\ D UHDVRQLQJ

PAGE 59

DQLPDO DQG WKDW ZKDW KDV KDSSHQHG LV WKDW RQH PLQGf§WKH FRQVFLRXVKDV ZURQJO\ DVVHUWHG DVFHQGHQF\ RYHU WKH RWKHU JUHDWHU PLQGWKH XQFRQVFLRXVf§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n ORJLFDOO\ SHUIHFW KHUPDSKURGLWLF ILUVW PDQ -XQJnV H[SOLFDWLRQ RI 3KLODOHWKHVn SDUDEOH LV VR FUXFLDO WR WKH DVVXPSWLRQV XQGHUO\LQJ WKLV VWXG\ WKDW WKRXJK VKRUWHQHG FRQVLGHUDEO\ LW PXVW QRQHWKHOHVV EH TXRWHG DW D OHQJWK WKDW PD\ DW ILUVW VHHP H[FHVVLYH 7KH LQLWLDO V\PEROV FDQ EH VHW IRUWK EULHIO\ WKH GU\ HDUWK LV WKH VSLULWXDOO\ EDUUHQ PDWHULDOLVWLF ZRUOG RI HJR FRQVFLRXVQHVV ZKHQ GHSULYHG RI WKH IHUWLOH ZDWHUV RI WKH

PAGE 60

XQFRQVFLRXV HDUWKnV RZQ ZDWHU LV WKH DGHSWn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b UHGXFHV KLP WR WKH OHYHO RI PDVV PDQ RU FUXGH 6XOSKXU +HUH LV -XQJn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

PAGE 61

WL $UVHQLF RULJLQDOO\ PHDQW nPDVFXOLQH PDQO\ DV 5XODQGn DQ DUFDQXP 7KHUH DUVHQLF LV GHILQHG DV DQ V ,6 /XQD RXU 9HQXV ,W DQG WKH LV VRXO RI WKH VWURQJn DQG ZDV /H[LFRQ VKRZV KHUPDSKURGLWH WKH PHDQV ZKHUHE\ 6XOSKXU DQG 0HUFXU\ XQLWHG ,W KDV FRPPXQLRQ ZLWK ERWK QDWXUHV DQG WKHUHIRUH FDOOHG 6XQ DQG 0RRQ 2U 6XOSKXUnV FRPSDQLRQ DUVHQLF LV QR ORQJHU WKH PDVFXOLQH D VXEVWDQFH EXW LV KHUPDSKURGLWLF DQG HYHQ IHPLQLQH 7KLV EULQJV LW GDQJHURXVO\ FORVH WR WKH PRRQ DQG WKH FUXGH VXOSKXU VR WKDW DUVHQLF ORVHV LWV VRODU DIILQLW\ $V 6XOSKXUnV FRPSDQLRQ LW LV SRLVRQRXV DQG FRUURVLYH (HFDXVH WKH DUFDQH VXEVWDQFH DOZD\V SRLQWV WR WKH SULQFLSDO XQFRQVFLRXV FRQWHQW LWV SHFXOLDU QDWXUH VKRZV LQ ZKDW UHODWLRQ WKDW FRQWHQW ,W KDV EHHQ SDUWO\ DFFHSWHG DQG SDUWO\ UHMHFWHG LW LV VHHQ XQGHU WZR GLIIHUHQW WKLQJV 7KLV LV ZKDW KDV KDSSHQHG LQ RXU WH[W WKH WKLHI LV FRQWUDVWHG ZLWK WKH ZLQJHG \RXWK ZKR WKH RWKHU DVSHFW RU SHUVRQLILHV WKH WUXH VXOSKXU WKH VSLULW RI LQQHU WUXWK ZKLFK PHDVXUHV PDQ QRWn E\ KLV UHODWLRQ WR WKH PDVV EXW E\ KLV UHODWLRQ WR WKH P\VWHU\ RI WKH SV\FKH 7KLV ZLQJHG \RXWK WKH VSLULWn XDO 0HUFXULXVf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

PAGE 62

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

PAGE 63

SURSLWLRXV WR KLP IRU VKH LV EHLQJ FRQVLGHUHG DV D EULGH DQG LW KDV \HW WR EH VHHQ ZKDW VKH KDV WR SUHVHQW LQ WKH ZD\ RI ZLOG DQLPDOV 3RVVLEO\ WKH WKLHI ZLOO DSSHDU TXLWH LQVLJQLILFDQW E\ FRPSDULVRQ 7KH WHQGHU SDLU RI GRYHV LV DQ REYLRXVO\ KDUPOHVV DVSHFW RI WKH VDPH LQVWLQFWXDOLW\ WKRXJK LQ LWVHOI WKH WKHULRPRUSKLF V\PERO ZRXOG EH FDSDEOH RI DQ LQWHUSUHn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n IXOQHVV RI H[LVWHQFH WKH RULJLQDO GLVVRFLDWLRQ ZLOO EH DQQXOOHG LQ *RG 7KH HDUWKTXDNH LV RQ WKH RQH KDQG DQ DOOXVLRQ WR &KULVWnV GHVFHQW LQWR KHOO DQG KLV UHVXUUHFWLRQ DQG RQ WKH RWKHU KDQG D VKDNLQJ RI WKH KXPGUXP HDUWKO\ H[LVWHQFH RI PDQ LQWR ZKRVH OLIH DQG VRXO PHDQLQJ KDV DW ODVW SHQHWUDWHG DQG E\ ZKLFK KH LV DW RQFH WKUHDWHQHG DQG XSOLIWHG 7KLV LV DOZD\V DQ LQWXLWLYH H[SHULHQFH WKDW LV IHOW DV D FRQFUHWH UHDOLW\ ,W LV WKH SUHILJXUDWLRQ DQG DQWLFLSDWLRQ RI D IXWXUH FRQGLWLRQ D JOLPPHULQJ RI DQ XQVSRNHQ KDOIFRQVFLRXV XQLRQ RI HJR DQG QRQn HJR 7KH HDUWKTXDNH VHQGV XS D GDUN FORXG FRQVFLRXVQHVV EHFDXVH RI WKH UHYROXWLRQ RI LWV IRUPHU VWDQGSRLQW LV VKURXGHG LQ GDUNQHVV MXVW DV WKH HDUWK ZDV DW &KULVWnV GHDWK ZKLFK ZDV IROORZHG E\ D UHVXUUHFWLRQ 7KLV

PAGE 64

LPDJH WHOOV XV WKDW WKH ZLGHQLQJ RI FRQVFLRXVQHVV DW ILUVW XSKHDYDO DQG GDUNQHVV WKHQ D EURDGHQLQJ RXW RI PDQ WR WKH ZKROH PDQ V 7KLV 0DQ EHLQJ LQn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n GUDZV QHDU WR WKH XQn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n SDUDEOH LV W\SLFDO RI WKH JHQUH ZH VKDOO KDYH IUHTXHQW RFFDVLRQ WR UHIHU EDFN WR -XQJnV H[SOLFDWLRQ -XQJ LQ KLV GLVFXVVLRQ RI WKH UHODWLRQVKLS EHWZHHQ WKH 6WRQH DQG &KULVW SRLQWV RXW WKDW WKH DOFKHPLFDO RSXV ZDV VRPHWLPHV WKRXJKW RI DV D SDUDOOHO DQG LPLWDWLRQ SHUKDSV HYHQ D FRQWLQXDWLRQf§RI WKH GLYLQH ZRUN RI UHGHPSn WLRQ $OFKHP\ KH VD\V LV D GUDPD RI WKH KXPDQ SV\FKH RQ WKH IXUWKHU VLGH RI FRQVFLRXVQHVV VKRZLQJ PDQ DV ERWK WKH RQH WR EH UHGHHPHG DQG WKH UHGHHPHU

PAGE 65

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f§DV LQ WKH *QRVWLF OHJHQGf§ZHUH UHIOHFWHG LQ WKH GDUN ZDWHUV RI WKH 3K\VLV 2Q WKH GLVWLQFWLRQ EHWZHHQ WKH WZR FRQFHSWV RI UHGHPSWLRQ -XQJ VD\V :KHUHDV WKH &KULVWLDQ EHOLHI LV WKDW PDQ LV IUHHG IURP VLQ E\ WKH UHGHPSWRU\ DFW RI &KULVW WKH DOFKHPLVW ZDV HYLGHQWO\ RI WKH RSLQLRQ WKDW WKH UHVWLWXWLRQ RI WKH OLNHQHVV RI RULJLQDO DQG LQFRUUXSW QDWXUH KDG VWLOO WR EH DFFRPSOLVKHG E\ WKH DUW DQG WKLV FDQ RQO\ PHDQ WKDW &KULVWnV ZRUN RI UHGHPSWLRQ ZDV UHJDUGHG DV LQn FRPSOHWH %XW LQ WKH ILQDO DQDO\VLV LW LV WKH QHJDWLYH FKDUDFWHULVWLFV RI 0HUFXULXV ZKR FRQVWLWXWHV WKH VXEVWDQFH RI WKH ODSLV SKLORVRSKRUXP WKDW DFFRXQW IRU WKH SULQFLSDO KHUHV\ RI DOFKHP\ GR[LFDO ,W WKHUHIRUH UHSUHVHQWV ,Q FRPSDULVRQ ZLWK WKH SXULW\ DQG XQLW\ RI WKH &KULVW V\PERO 0HUFXULXVODSLV LV DPELJXRXV GDUN DQG WKRURXJKO\ SDJDQ D SDUW RI WKH SV\FKH ZKLFK ZDV FHUWDLQO\ QRW PRXOGHG E\ &KULVWLDQLW\ DQG FDQ RQ QR DFFRXQW EH H[SUHVVHG E\ WKH V\PERO &KULVW 2Q WKH FRQWUDU\ LQ PDQ\ ZD\V LW SRLQWV WR WKH GHYLO ZKR LV NQRYP DW WLPHV WR GLVn JXLVH KLPVHOI DV DQ DQJHO RI OLJKW 7KH ODSLV IRUPXODWHV DQ DVSHFW RI WKH VHOI ZKLFK VWDQGV ERXQG WR QDWXUH DQG DW RGGV ZLWK WKH &KULVWLDQ VSLULW ,W UHSUHVHQWV DOO WKRVH WKLQJV ZKLFK KDYH EHHQ HOLPLQDWHG IURP WKH &KULVWLDQ PRGHO

PAGE 66

,W VKRXOG EH SRLQWHG RXW KRZHYHU WKDW VLQFH WKH DOFKHPLVWV ZHUH IRUPXODWLQJ E\ ZD\ RI SDUDGR[ LQWXLWLYH FRQFHSWV EH\RQG WKH JUDVS RI FRQVFLRXV XQGHUVWDQGLQJ WKH\ ZHUH RIWHQ XQDZDUH RI WKH KHUHWLFDO DVSHFWV RI ZKDW WKH\ ZHUH GRLQJ ,Q D ZD\ DOFKHP\ FDQ EH VHHQ DV DQ (FFOHVLD 6SLULWX DOLV RZLQJ DOOHJLDQFH WR &KULVW DORQH DQG LQ VRPH UHVSHFWV DW RGGV ZLWK WKH GRFWULQH RI WKH &KULVWLDQ FKXUFK 7KH DOFKHPLVWV ZHUH KRZHYHU H[SHULHQFLQJ DV D SHUVRQDO UHDOLW\ WKH DUFKHW\SHV DW WKH EDVLV RI &KULVWLDQLW\ 7KH UHVXOW LV WKDW PRVW ZHUH IHUYHQW DQG HQWKXVLDVWLF &KULVWLDQV DW OHDVW LQ WKHLU RZQ H\HV 7KXV WKH ZULWHU RI WKH 6RSKLH +\GUROLWK GUDZV KLV RZQ SDUDOOHO WKH SUDFWLFH RI WKLV $UW HQDEOHV XV WR XQGHUVWDQG QRW PHUHO\ WKH PDUYHOV RI 1DWXUH EXW WKH QDWXUH RI *RG +LPVHOI LQ DOO LWV XQVSHDNDEOH JORU\ ,W VKDGRZV IRUWK LQ D ZRQGHUIXO PDQQHU KRZ PDQ LV WKH LPDJH RI WKH PRVW +RO\ 7ULQLW\ WKH HVVHQFH RI WKH +RO\ 7ULQLW\ DQG WKH 2QHQHVV RI 6XEVWDQFHV LQ WKDW 7ULQLW\ DV ZHOO DV WKH GLIIHUHQFH RI 3HUVRQV WKH ,QFDUQDWLRQ RI WKH 6HFRQG 3HUVRQ RI WKH +RO\ 7ULQLW\ +LV 1DWLYLW\ 3DVVLRQ 'HDWK DQG 5HVXUUHFWLRQ +LV ([DOWDWLRQ DQG WKH (WHUQDO +DSSLQHVV ZRQ E\ +LP IRU XV PHQ DOVR RXU SXULILFDWLRQ IURP RULJLQDO VLQ LQ WKH DEVHQFH RI ZKLFK SXULILFDWLRQ DOO JRRG DFWLRQV RI PHQ ZRXOG EH YDLQ DQG YRLGf§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

PAGE 67

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nV 6WRQH ZDV DOO DERXW $On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

PAGE 68

WKH\ PD\ EH LW VWULSV KLP RI DOO YDLQJORU\ DQG HTXDOO\ RI KRSH DQG IHDU LW DQQLKLODWHV DPELWLRQ DQG WKH YLROHQFH RU H[FHVV RI GHVLUH LW VZHHWHQV DQG VRIWHQV WKH PRVW VHYHUH IRUPV RI DGYHUVLW\ *RG UDQNV WKH $GHSWV RI RXU DUW QH[W WR WKH VDLQWV RI +LV UHOLn JLRQ 7KH DUW LV D SDWKZD\ WR VDLQWKRRG SHUKDSV WKLV LV ZKDW 6SHQVHU KDG LQ PLQG LQ 7KH )DHULH 4XHHQH ZKHQ KH GHVFULEHG WKH VSLULWXDO WUDQVIRUPDWLRQ RI DQ XQFRXWK UXVWLF LQWR D SHUIHFWHG 6DLQW *HRUJH RI (QJODQG 7KLV SRVVLELOLW\ ZH ZLOO H[SORUH LQ 3DUW ,, RI WKLV VWXG\ ZKHQ ZH DSSURDFK %RRN RI 6SHQVHUnV SRHP IURP WKH SRLQW RI YLHZ RI HVRWHULF DOFKHP\ ZKLFK DV ZH QRZ NQRZ ZDV D SV\FKRWKHUDSHXWLF GLVFLSOLQH

PAGE 69

127(6 7KH FROOHFWLRQV RI :HVWHUQ DOFKHP\ DUH 'H $OFKHPLD 1XUHPEHUJ f $UV &KHPLFD 6WUDVERXUJ f $UWLV $XULIHUDH YROV %DVHO f 7KHDWUXP &KHPLFXP YROV 6WUDVERXUJ f (OLDV $VKPROH HEf 7KHDWUXP &KHPLFXP %ULWDQQLFXP /RQGRQ f 0XVDHXP +HUPHWLFXP )UDQNIXUW D 0 f -RDQQHV -DFREXV 0DQJHWXV HGf %LEOLRWKHFD &KHPLFD &XULRVD *HQHYD f YROV 6SHFLILFDOO\ *UHHN WH[WV DUH FROOHFWHG LQ 0DUFHOOLQ %HUWKHORW HGf &ROOHFWLRQ GHV DQFLHQV DOFKLPLVWHV JUHFV 3DULV f YROV )RU ELEOLRJUDSKLFDO LQIRUPDWLRQ VHH +HQU\ &DUULQJWRQ !%ROWRQ $ nMHOHFE %LEOLRF\UDSK\ RI &KHPLVWU\ 1HZ
PAGE 70

ZRUN WR & -XQJnV 0\VWHULXP &RQLXQFWLRQLV VHH IQ EHORYA 2WKHU LPSRUWDQW HGLWLRQV DUH WKRVH RI -XOLXV 5XVND %XFK GHU IOODXQH XQG 6DO]H 'H VSHFLHEXV VDOLXPf %HUOLQ f 'LH 9LVLRQ GHV $ULVOHXV *HRUJ 6WLFNHU )HVWVFKULIW +LVWRULVFKH 6WXGLHQ XQG 6NL]]HQ ]XU 1DWXU XQG +HLOZLVVHQ V FKD IW %HUOLQ f 6WXGLHQ ]X 0XKDPPDG LEQ 8PDLO ,VLV %UXJHVf ;;,9 f 7DEXOD 6PDUDJGLQD +HLGHOn EHUJ f 7XUED 3KLORVRSKRUXP %HUOLQ f 7KH IROORZn LQJ HGLWLRQV RU WUDQVODWLRQV KDYH DSSHDUHG LQ $PEL[ & + -RVWHQ 7UXWKnV *ROGHQ +DUURZ DQ XQSXEOLVKHG DOFKHPLFDO WUHDWLVH E\ 5REHUW )LXGG ,,, f $ WUDQVn ODWLRQ RI -RKQ 'HHnV 0RQDV +LHURJO\SKLFD $QWZHUS f ZLWK DQ LQWURGXFWLRQ DQG DQQRWDWLRQV ;,, f DQG ) 6KHUZRRG 7D\ORU 7UDQVODWLRQ RI n7KH 9LVLRQV RI =RVLPRVn f 7UDQVODWLRQ RI WKH DOFKHPLFDO ZRUNV RI 6WHSKDQRV RI $OH[DQGULD 3DUW ,, 3DUW ,,,, f 7KH 0XVDHXP +HUPHWLFXP KDV EHHQ WUDQVODWHG LQWR (QJOLVK E\ $UWKXU (GZDUG :DLWH 7KH +HUPHWLF 0XVHXP 5HVWRUHG DQG (QODUJHG /RQGRQ DQG f YROV A%HVLGHV WKH PDQ\ ZRUNV RI & -XQJ VHH IQ EHORZf WKH UHDGHU VKRXOG FRQVXOW & $ %XUODQG 7KH $UWV RI WKH $OFKHPLVWV 1HZ
PAGE 71

& -XQJ 0\VWHULXP &RQLXQFWLRQLV 7KH &ROOHFWHG :RUNV RI & -XQJ 9RO ;,9 QG HG 1HZ
PAGE 72

fA5XODQG S :DLWH I -XQJ ;,, a(ULFK 1HXPDQQ 0\VWLFDO 0DQ 7KH 0\VWLF 9LVLRQ 3DSHUV IURP WKH (UDQRV
PAGE 73

-XQJ ;,9 I -XQJ ;,9 -XQJ ;,9 6ROf 6XOSKXUf /XQDf 6DOWf -XQJ ;,9 FLWHV 7KHDWUXP &KHPLFXP 9 -XQJ ;,9 7KH IXOOHVW H[SRVLWLRQ LV WR EH IRXQG LQ & -XQJ 3V\FKRORJLFDO 7\SHV 1HZ
PAGE 74

62/87,2 7KH ILUVW SDUW RI 3UDFWLFDO &KHPLVWU\ ZKHUHE\ WKH ERGLHV RI FRDJXODWHG VXEVWDQFHV DUH GLVVROYHG DQG DWWHQXDWHG 7KHUH DUH VHYHUDO GLVWLQFW VSHFLHV EXW DPRQJ DUWLVWV WKH WHUP LV DSSOLHG PRUH FRPPRQO\ WR RQH SURFHVV 6RPHWLPHV HDFK SDUWLFXODU VSHFLHV WDNHV WKH JHQHULF QDPH 6ROXWLRQ LV RI WZR NLQGV 0HOWLQJ RU /LTXDWLRQ DQG 6HJUHJDWLRQ RU 6HSDUDWLRQ RWKHUZLVH &DOFLQDWLRQ DQG 'LVVROXWLRQ S f 6(3$5$7,2 (/(0(172580 0XFK KDV EHHQ VDLG DERXW WKH 6HSn DUDWLRQ RI WKH (OHPHQWV \HW QR VXFK WKLQJ WDNHV SODFH 7KHUH LV VLPSO\ DQ DOWHUDWLRQ ZKLFK VHSDUDWHV WKH SXUH IURP WKH LPSXUH DV ZKHQ DQ $ONRO LV FRQVWUXFWHG DQG WKH SXUH (VVHQFH LV SUHVHUYHG 7KHQ WKH 6HSDUDWLRQ RI WKH (OHPHQWV KDV EHHQ DFFRPSOLVKHG &I 6(3$5$7,2 3(5 $%6&(6680 6HSDUDWLRQ E\ 5HPRYDO LV ZKHQ SDUWV RI GLYHUVH QDWXUH PXWXDOO\ EUHDN DZD\ IURP WKHLU FRQMXQFn WLRQ DQG GHSDUW LQ RSSRVLWH GLUHFWLRQV S If &21,81&7,2 &RQMXJLXP LV &RSXODWLRQ WKH XQLRQ RI WKH PDQ DQG ZLIH 6RPH VD\ WKDW WKHUH DUH WKUHH NLQGV RI LW WKH ILUVW RI WKH VSLULW DQG WKH HDUWK WKH VHFRQG RI WKH IHUPHQW DQG WKH VWRQH WKH WKLUG RI WKH PHGLFLQH DQG RI WKH VXEMHFW %XW KHUH ZH VSHDN DW WKH FRPPHQFHn PHQW ZKHQ WKH UHG PDQ DSSURDFKHV WKH ZKLWH ZRPDQ E\ PHDQV RI WKH ZDWHU 7KH FRQMXQFWLRQ LV WKH FRSXODWLRQ RI WKH FRQJHDOHG VSLULW ZLWK WKH GLVVROYHG ERG\ DV 7KHRSKUDVWXV VWDWHV :KHQ WKH EORRG RI WKH 5HG /LRQ DQG WKH EORRG RI WKH :KLWH (DJOH DUH XQLWHG WKH 5HG /LRQ FDQ EHFRPH WKH :KLWH (DJOH DQG EH RQH ZLWK LW 7KH 5HG /LRQ EHFRPHV ZKLWH LQ RUGHU WKDW WKH ZKLWH PD\ EHFRPH UHG 6HFRQGO\ WKH\ PXVW EH PDUULHG DOLYH WKHQ WKH ZRPDQ DSSURDFKHV WKH PDQ WKH PDQ UHQGHUV KHU IUXLWn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f 3875()$&7,2 'LVVROXWLRQ RI D &RPSRVLWH 6XEVWDQFH E\ 3XWUHIDFWLRQ RU +HDWHG 0RLVWXUH ,W LV QHFHVVDU\ IRU WKH KXPLGLW\ WR RYHUFRPH WKH GU\QHVV E\ WKH

PAGE 75

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r XVLQJ RQO\ RQH WKDW VKDOO EH HQRXJK WR SHUPLW WKH HVFDSH RI WKH HVVHQFHV +HQFH LW EHFRPHV SODLQ WKDW LQ &RPn SRVLWH 6XEVWDQFHV XQXVXDOO\ UHPRYHG IURP HOHPHQWDO VLPSOLFLW\ WKHUH LV VRPHWKLQJ LQWHUQDO EHVLGHV WKH HOHPHQW DQG WKLV VRPHWKLQJ LV UHJDUGHG DV LQFXPEXVWLEOH %\ D QDWXUDO SXWUHIDFWLRQ LW SURGXFHV D QHZ VXEVWDQFH DQG VROLGLILHV 7KLV NLQG RI GLVVROXWLRQ LV WZRIROGf§ SXWUHIDFWLRQ DQG GLVVROXWLRQ E\ PHGLFLQH 7KHUH LV DQRWKHU NLQG RI SXWUHIDFWLRQ ZKLFK RFn FXSLHV D PLGGOH SODFH EHWZHHQ FRUURVLYH FDOFLQDWLRQ DQG SXWUHIDFWLRQ ,W LV FDOOHG 'U\ DQG 3KLORVRSKLFDO 3XWUHIDFWLRQ 6RPH QRW ZLWKRXW UHDVRQ QDPH LW 6XEn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f &2$*8/$7,2 &RDJXODWLRQ LV WKH &RQGHQVDWLRQ IURP D WHQXRXV DQG IOXLG FRQVLVWHQF\ RI WKLQJV RI WKH VDPH QDWXUH DQG WKHLU UHGXFWLRQ LQWR D VROLG VWDWH 7KXV WKRVH VXEn VWDQFHV ZKLFK KDYH EHHQ DWWHQXDWHG E\ DQ DTXHRXV DHULDO RU ILHU\ UHVROXWLRQ DUH KHUHE\ UHGXFHG LQWR

PAGE 76

D KRPRJHQHRXV ERG\ $QG WKLV FRDJXODWLRQ LV FRRUGLQDWHG E\ PDQ\ RWKHU RSHUDWLRQVGHYDSRUDWLRQ H[DOWDWLRQ VXEn OLPDWLRQ GLVWLOODWLRQ HWF ,W LV SHUIRUPHG LQ WZR ZD\V E\ 6HJUHJDWLRQ DQG &RPSUHKHQVLRQ $QG LW LV HLWKHU FROG RU KRW S f &,%$7,2 &RUSRUDWLRQ S f 68%/,0$7,2 6XEOLPDWLRQ LV RI WZR NLQGVRQH LV HIIHFWHG E\ PHDQV RI 'LVWDQFH WKH RWKHU E\ PHDQV RI 6XUIDFH 6XEOLPDWLRQ GRHV QRW DOZD\G GHQRWH DQ DVFHQVLRQ EXW DOVR D SURFHVV E\ ZKLFK VXEVWDQFHV EHFRPH PRUH SUHFLRXV VSOHQGLG DQG H[FHOOHQWf§\HW LW LV WUXH WKDW WKH YDSRXU DVFHQGV 6XEOLPDWLRQ PHDQV LPSURYHPHQW RI TXDOLW\ DQG YLUWXH DV ZKHQ 6RO LV PDGH RXW RI /XQD DQG LV FDOOHG WKDW ZKLFK LV HOHYDWHG WKDW ZKLFK LV DERYH RQ WKH KHLJKWV EXW WKDW ZKLFK LV LPSURYHG PD\ EH WKH KLJKHVW RU WKH ORZHVW IRU WKH\ DUH RQH ,, S f )(50(17$7,2 7KH ([DOWDWLRQ RI D 0DWWHU LQWR LWV HVVHQWLDO SDUW E\ PHDQV RI D IHUPHQW ZKLFK SHQHWUDWHV WKH HQWLUH PDVV DQG RSHUDWHV WKHUHLQ LQ D SHFXOLDU PDQQHU DFWLQJ LPPHGLDWHO\ RQ WKH VSLULWXDO QDWXUH %\ IHUPHQW WKH SKLORVRSKHUV XQGHUVWDQG D WUXH ERG\ DQG D WUXH PDWWHU ZKLFK XQLWHG WR LWV SURSHU 0HUFXU\ FRQYHUWV LW LQWR WKH QDWXUH WKHUHRI 6RPH ZLOO KDYH WKDW WKH VWRQH LWVHOI LV WKH IHUPHQW RI D SHUIHFW ERG\ )RU ZKHQ WKH VWRQH LV VR VXEWOH DV WKH SKLORVn RSKHUV WHUP LW WKDW ZKHQ LW LV SURMHFWHG RYHU DQ LPn SHUIHFW ERG\ LW IORDWV DIWHU WKH PDQQHU RI DQ RLO ZLWKRXW FRPELQLQJ WKHUHZLWK ZH QHHG VRPH RWKHU ERG\ ZKLFK VWLOO UHWDLQV WUDFHV RI LWV IRUPHU DIILQLW\ WKHUHn ZLWK ZKLFK VKDOO UHFHLYH DQG LQWURGXFH LW LQWR RWKHU ERGLHV S f (;$/7$7,2 6DPH DV 6XEOLPDWLRQ S f $8*0(17$7,2 1RW GHILQHG LQ 5XODQG 352-(&7,2 7KH H[DOWDWLRQ RI D VXEVWDQFH E\ D 3URMHFWLQJ 0HGLFLQHf§ZKLFK LV SURMHFWHG RYHU WKH PDWWHU WR EH WUDQVIRUPHG E\ D VXGGHQ HJUHVVLRQ ,W FRUUHVSRQGV WR WKH SURFHVV RI IHUPHQWDWLRQ ZKLFK FKDQJHV D PDWWHU VXEVWDQWLDOO\ E\ DFWLQJ ZLWKLQ LW ,W GLIIHUV IURP LW KRZHYHU LQ WKDW LW LV QRW HIIHFWHG E\ PHDQV RI D VORZ GLJHVWLRQ ZKHUHE\ WKH GLIIHUHQW SDUWV XQGHUJR DOWHUDn WLRQ DQG PL[WXUH LW LV RQ WKH FRQWUDU\ SHUIRUPHG E\ D YLROHQW LQWHUSHQHWUDWLRQ ZKLFK WUDQVIRUPV DW WKH PRPHQW RI LQJUHVVLRQ 0RUHRYHU WKH 0HGLFLQH LV QRW FDOOHG D )HUPHQW EXW D 7LQFWXUH S f

PAGE 77

A-XQJ ;,9 -XQJ ;,, -XQJ ;9, -XQJ ;9, [LY I $QLHOD -DIIG 7KH ,QIOXHQFH RI $OFKHP\ RQ WKH :RUN RI & -XQJ $ &DWDORJXH RI %RRNV DQG 0DQXVFULSWV FRPSLOHG E\ ,DQ 0DF3KDLO [Y YRQ $XURUD S [ A6HH M Z +DPLOWRQ-RQHV 7KH ,GHQWLW\ RI (LUHQDHXV 3KLODOHWKHV $PEL[ ;,,, f DQG 5RQDOG 6 :LONLQVRQ $ )XUWKHU 1RWH RQ (LUHQDHXV 3KLODOHWKHV $PEL[ ;,,, f :DLWH ,, I WU 6LJPXQG )UHXG 7KH ,QWHUSUHWDWLRQ RI 'UHDPV WUDQV -DPHV 6WUDFKH\ 1HZ
PAGE 78

&+$37(5 ,,, 63(16(5 $1' 7+( (627(5,& 75$',7,21 :H KDYH VHHQ WKDW UHFHQW WUHQGV LQ VFKRODUVKLS SURn YLGH MXVWLILFDWLRQ IRU UHJDUGLQJ 7KH )DHULH 4XHHQH DV DQ HVRWHULF RU PDJLFDO SRHP UHTXLULQJ D VSHFLILFDOO\ 5HQDLVn VDQFH XQGHUVWDQGLQJ RI WKH P\VWHULHV WKDW WKH P\VWHULHV LQYROYHG DQ H[DOWHG W\SH RI 5HQDLVVDQFH PDJLF WKDW DFDLHYHG LWV UHVXOWV E\ PHDQV RI ZKDW ZH WRGD\ ZRXOG FDOO SV\FKRn WKHUDS\ WKDW LW LV LQ WKH UHDOP RI 5HQDLVVDQFH PDJLF UDWKHU WKDQ ZKDW VRPH FULWLFV KDYH PLVWDNHQO\ WHUPHG (OL]Dn EHWKDQ SV\FKRORJ\ WKDW WKH SUREDEOH EDVLV IRU 6SHQVHUnV VWULNLQJO\ PRGHUQ JUDVS RI WKH SV\FKRORJ\ RI WKH XQFRQVFLRXV PXVW EH VRXJKW DQG ILQDOO\ WKDW WKH P\VWHU\ WUDGLWLRQ LV EHVW UHSUHVHQWHG E\ HVRWHULF DOFKHP\ ZKLFK FRQWDLQV ZKDW LV E\ PRGHUQ VWDQGDUGV WKH PRVW DFFXUDWH DQG FRPSUHKHQVLYH IRUn PXODWLRQ RI WKH SV\FKRORJ\ RI WKH XQFRQVFLRXV 7KH WDVN RI WKH SUHVHQW FKDSWHU LV WR H[SORUH WKH LPSOLFDWLRQV RI WKH HVRWHULF WUDGLWLRQ LQ WKH FRQWH[W RI WKH (OL]DEHWKDQ FXOWXUDO PLOLHX HVSHFLDOO\ DV LW LPSLQJHV RQ (GPXQG 6SHQVHU WKURXJK VXFK IULHQGV DQG DFTXDLQWDQFHV DV 6LGQH\ '\HU 5DOHLJK 'HH DQG %UXQR 3HUKDSV LQ WKLV ZD\ ZH FDQ JDLQ D FOHDUHU XQGHUn VWDQGLQJ RI WKH LQWHOOHFWXDO FOLPDWH ZKLFK PDGH LW SRVVLEOH IRU 6SHQVHU WR ZULWH D SRHP OLNH 7KH )DHULH 4XHHQH

PAGE 79

2XW RI WKH VXUJH RI FUHDWLYH HQHUJ\ ZKLFK FKDUDFWHUL]HV WKH 5HQDLVVDQFH WKHUH HPHUJHV D WKHPH ZKLFK ZLOO EH RI JUHDW FRQFHUQ LQ WKH SUHVHQW VWXG\ LW LV WKH LGHD RI KXPDQ SHUn IHFWLELOLW\ ,QGHHG WKH HVRWHULF WUDGLWLRQ LV LQVHSDUDEOH IURP WKLV LGHD IRU LW RIIHUHG WKH PHDQV ZKHUHE\ WKLV JRDO FRXOG EH DWWDLQHG 7KH VWDWHPHQW EHVW HSLWRPL]LQJ WKLV DWn WLWXGH LV IRXQG LQ WKH $VFOHSLXV DOVR FDOOHG 7KH 3HUIHFW 6HUPRQ ZKLFK LV FRQWDLQHG LQ WKH &RUSXV +HUPHWLFXP WUDQVn ODWHG LQWR /DWLQ E\ )LFLQR LQ +HUH +HUPHV 7ULVPHJLV WXV 7DW $PPRQ DQG $VFOHSLXV HQWHU *RGnV VDQFWXDU\ WKH SODFH ZDV PDGH KRO\ E\ WKH SLRXV DZH RI WKH IRXU PHQ DQG ZDV ILOOHG ZLWK *RGnV SUHVHQFH $QG WKH KHDUHUV OLVWHQHG LQ ILWWLQJ VLOHQFH DQG ZLWK KHDUW DQG VRXO HDFK RI WKHP KXQJ RQ WKH ZRUGV LQ UHYHUHQFH DV WKURXJK WKH OLSV RI +HUPHV WKH GLYLQH (URV WKXV EHJDQ WR VSHDN +HUPHV KDV FRQVWHOODWHG WKH DUFKHW\SH RI WKH WHDFKHU RU SURn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n SHUWLHV RI PDQ WKDQ WKRVH RI RWKHU EHLQJV +H LV OLQNHG WR WKH JRGV LQDVPXFK DV WKHUH LV LQ KLP D GLYLQLW\ DNLQ WR WKHLUV KH VFRUQV WKDW SDUW RI KLV

PAGE 80

RZQ EHLQJ ZKLFK PDNHV KLP D WKLQJ RI HDUWK DQG DOO HOVH ZLWK ZKLFK KH ILQGV KLPVHOI FRQQHFWHG E\ KHDYHQnV RUGHULQJ KH ELQGV WR KLPVHOI E\ WKH WLH RI KLV DIn IHFWLRQ +H UDLVHV UHYHUHQW H\HV WR KHDYHQ DERYH KH WHQGV WKH HDUWK EHORZ %OHVW LQ KLV LQWHUPHGLDWH VWDWLRQ KH LV VR SODFHG WKDW KH ORYHV DOO EHORZ KLP DQG LV ORYHG E\ DOO DERYH KLP +H KDV DFFHVV WR DOO KH GHVFHQGV WR WKH GHSWKV RI WKH VHD E\ WKH NHHQQHVV RI KLV WKRXJKW DQG KHDYHQ LV QRW IRXQG WRR KLJK IRU KLP IRU KH PHDVXUHV LW E\ KLV VDJDFLW\ DV WKRXJK LW ZHUH ZLWKLQ KLV UHDFK :LWK KLV TXLFN ZLW KH SHQHn WUDWHV WKH HOHPHQWV DLU FDQQRW EOLQG KLV PHQWDO YLn VLRQ ZLWK LWV WKLFNHVW GDUNQHVV GHQVH HDUWK FDQQRW LPSHGH KLV ZRUN WKH GHHSHVW ZDWHU FDQQRW EOXU KLV GRZQZDUG JD]H 0DQ LV DOO WKLQJV PDQ LV HYHU\ZKHUH 7KH GLYLQLW\ ZKLFK PDQ SRVVHVVHV LV DV ZH ZRXOG VD\ WKH XQFRQVFLRXV 7KH XQFRQVFLRXV LV VHHQ DV WKH PHDQV E\ ZKLFK WKH SHUVRQDOLW\ EHFRPHV VSLULWXDOL]HG 7KH JUHDWHU SRUWLRQ RI HVRWHULF GRFWULQH GRHV DV D PDWWHU RI IDFW FRQFHUQ LWn VHOI ZLWK WKH SKHQRPHQRQ RI WKH LQWHUDFWLRQ EHWZHHQ FRQn VFLRXV DQG XQFRQVFLRXV IXQFWLRQV RI WKH SV\FKH 7KLV LV WKH GLYLQH P\VWHU\ RYHU ZKLFK WKH YHLO RI VHFUHF\ PXVW EH VSUHDG 6HHQ LQ WKLV ZD\ +HUPHVn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nV KDSSLQHVV ZKHQ KH KDV VHHQ WKDW YLVLRQ
PAGE 81

$QRWKHU ERRN IURP WKH &RUSXV +HUPHWLFXP ZKLFK OLNH WKH $VFOHSLXV KHOSV GHILQH WKH 5HQDLVVDQFH FRQFHSW RI PDQ LV 7KH 3RLPDQGUHV RI +HUPHV 7ULVPHJLVWXV ,W LV VLJQLILFDQW WKDW WKLV LV D GUHDPYLVLRQ +HUPHVn ERGLO\ VHQVHV KDG EHHQ SXW XQGHU UHVWUDLQW E\ VOHHS DQG KH VHHV 3RLPDQGUHV D %HLQJ RI YDVW DQG ERXQGOHVV PDJQLWXGH ZKR LV D SHUVRQLILn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n'R \RX XQGHUVWDQG WKH PHDQLQJ RI ZKDW \RX KDYH VHHQ"n n7HOO PH LWV PHDQLQJn VDLG nDQG VKDOO NQRZn n7KDW /LJKWn KH VDLG nLV HYHQ 0LQG WKH ILUVW *RG ZKR ZDV EHIRUH WKH ZDWHU\ VXEVWDQFH ZKLFK DSSHDUHG RXW RI WKH GDUNQHVV DQG WKH :RUG ZKLFK FDPH IRUWK IURP WKH /LJKW LV VRQ RI *RGn n+RZ VR"n VDLG n/HDUQ P\ PHDQLQJn VDLG KH nE\ ORRNLQJ DW ZKDW \RX \RXUVHOI KDYH LQ \RX IRU LQ \RX WRR WKH ZRUG LV

PAGE 82

VRQ DQG WKH PLQG LV IDWKHU RI WKH ZRUG 7KH\ DUH VHSDUDWH RQH IURP WKH RWKHU IRU OLIH LV WKH XQLRQ RI ZRUG DQG PLQGn 6DLG n)RU WKLV WKDQN \RXn n1RZ IL[ \RXU WKRXJKW XSRQ WKH /LJKWn KH VDLG nDQG OHDUQ WR NQRZ LWn $QG ZKHQ KH KDG WKXV VSRNHQ KH JD]HG ORQJ XSRQ PH H\H WR H\H VR WKDW WUHPEOHG DW KLV DVSHFW $QG ZKHQ UDLVHG P\ KHDG DJDLQ VDZ LQ P\ PLQG WKDW WKH /LJKW FRQVLVWHG RI LQQXPHUDEOH 3RZHUV DQG KDG FRPH WR EH DQ RUGHUHG ZRUOG EXW D ZRUOG ZLWKn RXW ERXQGV 7KLV SHUFHLYHG LQ WKRXJKW VHHLQJ LW E\ UHDVRQ RI WKH ZRUG ZKLFK 3RLPDQGUHV KDG VSRNHQ WR PH $QG ZKHQ ZDV DPD]HG KH VSRNH DJDLQ DQG VDLG WR PH n
PAGE 83

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n DLVVDQFH FRQFHSW RI WKH P\VWHULHV 7KH PDLQ UHDVRQ IRU RXU LQWHUHVW LQ WKH 5HQDLVVDQFH P\VWHULHV LV DV (GJDU :LQG KDV SRLQWHG RXW EHFDXVH RI WKH VSOHQGRXU RI WKHLU H[n SUHVVLRQ LQ 5HQDLVVDQFH DUW :H DUH FRQFHUQHG KH VD\V ZLWK ZRUNV ZKLFK ZHUH GHVLJQHG IRU LQLWLDWHV KHQFH WKH\ UHTXLUH DQ LQLWLDWLRQ 7KLV LQLWLDWLRQ ZKLFK KDV DV LWV JRDO WKH FUHDWLRQ RI WKH PDJXV LV LPSOLFLW LQ WKH V\PEROLVP RI VRPH RI WKH PRVW FKDUDFWHULVWLF DUW RI WKH 5HQDLVVDQFH ,I ZH ZRXOG WUXO\ XQGHUVWDQG WKH LPSOLFDWLRQV RI 6SHQVHUnV UHPDUN WKDW 7KH )DHULH 4XHHQH LV D PDWWHU RI MXVW PHPRU\ ZH PXVW LQ HIIHFW XQGHUJR WKLV LQLWLDWLRQ RXUn VHOYHV 6SHQVHUnV PHPRU\ LV QRQH RWKHU WKDQ WKH FROn OHFWLYH PHPRU\ RI PDQNLQG LW LV DV ZH ZRXOG VD\ WKH FROOHFWLYH XQFRQVFLRXV 7KH SXUSRVH RI WKH RFFXOW PHPRU\ V\VWHPV ZKLFK ZHUH GHVLJQHG LQ WKH 5HQDLVVDQFH E\ +HUPHWLF SKLORVRSKHUV VXFK DV *LRUGDQR %UXQR ZDV QRW RQO\ WR SHQHWUDWH

PAGE 84

LQWR WKH FROOHFWLYH XQFRQVFLRXV EXW DOVR WR RUJDQL]H LW 7KXV 0LVV
PAGE 85

QRUPDO IDFXOW\ SV\FKRORJ\ ZKLFK KRZHYHU KH WUDQVn IRUPV E\ PDNLQJ WKH LPDJLQDWLRQ DQG PRUH SDUWLFXODUO\ WKH PDJLFDOO\ DQLPDWHG RU H[FLWHG LPDJLQDWLRQ ZKHQ MRLQHG WR WKH FRJLWDWLYH SRZHU WKH VRXUFH RI SV\FKLF HQHUJ\ 7KLV PDJLFDOO\ DQLPDWHG LPDJLQDWLRQ LV WKH VROH JDWH WR DOO LQWHUQDO DIIHFWLRQV DQG WKH OLQN RI OLQNV %UXQRnV ODQJXDJH LV H[FLWHG DQG REVFXUH DV KH H[SRXQGV WKLV WR KLP FHQWUDO P\VWHU\ WKH FRQn GLWLRQLQJ RI WKH LPDJLQDWLRQ LQ VXFK D ZD\ DV WR GUDZ LQWR WKH SHUVRQDOLW\ VSLULWXDO RU GHPRQLF IRUFHV ZKLFK ZLOO XQORFN LWV LQQHU SRZHUV 7KLV ZDV ZKDW KH ZDV DOZD\V WU\LQJ WR GR ZLWK WKH PDJLF PHPRU\V\VWHPV DQG WKH REMHFW ZDV DV LV TXLWH FOHDU IURP WKH FRQn FOXGLQJ SDJHV RI 'H 0DJLD WR DFKLHYH WKH SHUVRQDOLW\ DQG SRZHUV RI D JUHDW 0DJXV RU UHOLJLRXV OHDGHU *LRUGDQR %UXQR LV WKH GLUHFW DQG ORJLFDO UHn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nV ILQH ERRN LV WKDW DOOHJRU\ RULJLQDWHV LQ GLYLQH LQVSLUDn WLRQ LQ VXSHUKXPDQ YLVLRQ DQG KDV DV LWV HQG WKH VDPH H[n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

PAGE 86

SHRSOH E\ WKH GLYLQLW\ ZKLFK LQVSLUHV KLP 7KH JRGV QRW WKH SHRSOH H[HUFLVH WKH UHDO FRQWURO RYHU DOOHn JRU\ WKH\ WKHPVHOYHV GHWHUPLQH LWV QDWXUH 7KLV LV DQRWKHU ZD\ RI VD\LQJ WKDW WKH DOOHJRU\ DVVRFLDWHG ZLWK P\WK LV DQ DXWRQRPRXV FUHDWLRQ RI WKH XQFRQVFLRXV UDWKHU WKDQ D SURGXFW RI FRQVFLRXV LQYHQWLRQ WKH SRHW GLVFRYHUV WKH SRHWU\ LQ KLV XQFRQVFLRXV DQG FRPPXQLFDWHV LW WR WKH 7KHUH LV QR UHDVRQ WR LPDJLQH WKDW KH KLPVHOI QHHG KDYH DQ\ FOHDUHU XQGHUVWDQGLQJ RI WKH PHDQLQJ RI WKH DOOHn JRU\ WKDQ WKRVH WR ZKRP KH SUHVHQWV LW 7KH LQVSLUHG ZRUGV FRPH DOUHDG\ FRYHUHG E\ WKH YHLO RI DOOHJRU\ WKLV LV WKH QDWXUH RI WKH GDUN VSHHFK RI WKH JRGV 7KH RQO\ WKLQJ WKDW WKH SRHW FDQ FRQVFLRXVO\ FRQFHDO IURP WKH XQLQLWLDWHG LV WKH VRXUFH IURP ZKLFK WKH LQVSLUDWLRQ FDPH WR KLP LQ WKH ILUVW SODFH ,I ZH FRQVLGHU WKDW WKH FKLHI FULWHULRQ E\ ZKLFK WKH 5HQDLVVDQFH DV ZHOO DV DQWLTXLW\ GLVWLQJXLVKHG EHn WZHHQ WUXH DQG IDOVH SRHWU\ LV WKH H[WHQW WR ZKLFK LW ZDV GLVFRYHUHG UDWKHU WKDQ LQYHQWHG WKHQ WKH HQGOHVV GHEDWHV FRQFHUQLQJ WKH SRHW YHUVXV WKH SVHXGRSRHW ZLOO EHJLQ WR PDNH VHQVH 0U 0XUULQ H[SUHVVHV WKH GLVWLQFWLRQ WKXV 7KH SRHW VWLUV WKH PHPRULHV RI KLV DXGLHQFH WR UHFDOO WKHLU WUXH QDWXUH DQG WKHLU ORVW KRPH DQG KH FDQ HYRNH WKLV UHPLQLVFHQFH EHFDXVH KH KDV DOUHDG\ H[SHULHQFHG LW KLPVHOI WKDW LV PHPRU\ LV VWLOO ERWK DQ HIILFLHQW DQG D ILQDO FDXVH RI KLV DUW 7KH SRHW KHDUG WKURXJK WKH FUDFNV DQG ILVVXUHV RI KLV ERGLO\ SULVRQ LPDJHV RI WKH FHOHVWLDO PXVLF KH KDG NQRZQ ORQJ DJR EHIRUH KLV PLQG GHVFHQGHG LQWR PDWWHU DQG ZLVKLQJ WR VHH WKH ROG YLVLRQ DJDLQ KH WULHG WR IO\ EDFN KRPH EXW IRXQG KH FRXOG QRW )DLOLQJ WR DFWXDOL]H WKH SDVW KH LPLWDn WHG WKH PXVLF RI KLV YLVLRQ WR FRPPXQLFDWH LW WR RWKHUV DQG FUHDWHG D GLVFRXUVH PDGH XS RI LPDJHV GHVLJQHG WR HQJUDYH WKH GHOSKLF VHQVHV RI WKH PLQG $OOHJRULFDO SRHWU\ WKHQ PHPRULDOL]HV WKH SRHWnV YLVLRQ ZKLOH LW VLJQLILHV WKH SRHWnV IDLOXUH

PAGE 87

WR HVFDSH IURP PDWWHU :KDW WKH SRHW DZDNHV LQ KLV DXGLHQFH LV WKH VDPH YLVLRQ KH DQG HYHU\RQH HOVH RQFH KDG $JDLQ WKH PHPRULDO DFW LV FRPPXQDO 7KH SVHXGRSRHW ZHDYHV KLV DOOHJRULFDO ZHE RXW RI KLV RZQ PLQG IRU KH KDV QRW UHFDOOHG WKH DQFLHQW YLVLRQ +H WKXV SURGXFHV HPSW\ SRHWU\ ZLWKRXW GHSWK KH VWLUV QR RQHnV PHPRULHV 7UXH SRHWU\ FRPELQHV VRSKLD DQG WHFKQH ZLVGRP DQG DUW IDOVH SRHWU\ KDV RQO\ WHFKQH LPDJHV ZLWKRXW YLVLRQ DUW ZLWKRXW LQVSLn UDWLRQ ,W LV QRW WKH FKLOG RI 0QHPRV\QH 7UXH DOOHJRU\ LV LQVHSDUDEOH IURP WKH HVRWHULF WUDGLWLRQ EHn FDXVH LW LV WKH PHDQV E\ ZKLFK WKDW WUDGLWLRQ LV H[SUHVn VHGrA ,W LV WKHUHIRUH D IXQGDPHQWDO HUURU WR DSSURDFK D SRHP OLNH 7KH )DHULH 4XHHQH RWKHU WKDQ DV WKH FRPELQDWLRQ RI VRSKLD DQG WHFKQH 7R WKH UHDGHU ZKR FRXOG WUXO\ DWWDLQ D 5HQDLVVDQFH XQGHUVWDQGLQJ RI WKH P\VWHULHV 6SHQVHUnV SRHP ZRXOG EH VHHQ DV D VXEOLPH FUHDWLRQ WR ZKLFK WKH SURSHU UHVSRQVH ZRXOG EH ZRQGHU DQG DVWRQLVKPHQW ZH PXVW WU\ WR H[SHULHQFH ZLWKLQ RXUVHOYHV VRPHn WKLQJ RI WKH H[FLWHPHQW ZKLFK DOOHJRULFDO UKHWRULF FRXOG JLYH WR WKH DQFLHQW ZRUOG DQG WR WKH 5HQDLVVDQFH ,W ZDV QRW D SURFHVV RI PHUH LQWHUSUHWDWLRQ VXFK DV ZH SUDFWLFH LQ RXU VFKRROV WRGD\ LW ZDV D UHYHODWLRQ :KR FDQ VD\ ZKDW LW PXVW KDYH EHHQ OLNH WR GLVFRYHU WKURXJK VWRU\ RQHnV RZQ QDWXUH WKH XQLYHUVH DQG WKH LQYLVLEOH SRZHUV"rA 7KH GLIIXVLRQ RI +HUPHWLF WH[WV LQ WKH 5HQDLVVDQFH ZDV VR ZLGHVSUHDGA WKDW WKH PDMRULW\ RI WKRVH LQ WKH &RXUW RI 4XHHQ (OL]DEHWK FRXOG EH H[SHFWHG QRW RQO\ WR KDYH VXIILFLHQW IDPLOLDULW\ ZLWK HVRWHULF GRFWULQH WR DSSUHFLDWH D SRHP VXFK DV 7KH )DHULH 4XHHQH EXW DFWXDOO\ WR KDYH EHHQ LQLWLDn WHG LQWR WKH P\VWHULHV 7KLV LV HVSHFLDOO\ WUXH RI WKH 4XHHQ KHUVHOI ,Q VKH VXPPRQHG -RKQ 'HH ZKRP 0LVV
PAGE 88

RI RSHUDWLRQDO SRZHU RI WKH 5HQDLVVDQFH 0DJXV DQG IRU ZKRP DOFKHP\ ZDV RQH RI KLV PDLQ LQWHUHVWV WR &RXUW WR LQVWUXFW KHU LQ WKH KLGGHQ PHDQLQJ RI DQ DOFKHPLFDO WUHDWLVH 0RQDV +LHURJO\SKLFD ZKLFK KH KDG GHGLFDWHG WR WKH (PSHURU 0D[LPLOOLDQ ,, 'HH GHVFULEHV LW WKXV KHU 0DMHVWLH YHU\ JUDWLRXVO\ YRXFKVDIHG WR DFFRXQW KHU VHOI P\ VFKRODU t VDLG ZKHUHDV KDG SUDHIL[HG LQ WKH IRUHIURQW RI WKDW ERRN 4XL QRQ LQWHOOLJLW DXW WDFHDW DXW GLVFDW LI ZRXOG GLVFORVH XQWR KHU WKH VHFUHWV RI WKH ERNH VKH ZRXOG (W GLVFHUH t :KHUHXSSRQ KHU 0DMHVW\ KDG D OLWWOH SHUXVDO RI WKH VDPH ZLWK PH DQG WKHQ LQ PRVW KHURLFDOO t SULQFHO\ ZLVH GLG FRPIRUW PH t HQFRXUDJH PH LQ P\ VWXG\HV SKLLRVRSKLFDOO DQG 0DWKHPDWLFDOO tFA 7KRPDV &KDUQRFN WKH DXWKRU RI D PDMRU DOFKHPLFDO ZRUN HQn WLWOHG %UHYLDU\ RI 1DWXUDOO 3KLORVRSK\ ZDV DOVR DZDUH RI WKH 4XHHQnV LQWHUHVWV IRU LQ KH GHGLFDWHG DQ DOFKHPLn FDO WUHDWLVH WR (OL]DEHWK HQWLWOHG $ %RRNH RI 3KLORVRSKLH RI ZKLFK D FRS\ ZDV KDQGHG WR /RUG %XUJKOH\ ZKR KDG LW SODFHG LQ WKH 4XHHQnV OLEUDU\ I 6KHUZRRG 7D\ORU KDV FROOHFWHG FRQVLGHUDEOH FRUUHVSRQGHQFH EHWZHHQ $QGUHZ 3DVFKDO DQG -RKQ $XEU\ FRQFHUQLQJ WKLV HYHQW DQG RWKHU DFWLYLWLHV RI &KDUQRFN VR LW LV FOHDU WKDW ZKLOH 7KRPDV &KDUQRFN KDG QR FRQQHFWLRQ ZLWK WKH &RXUW KH ZDV D SHUVRQ RI FRQVLGHUn DEOH LQWHUHVW 'HH KRZHYHU KDG DFFHVV WR WKH LQQHU FLUFOHV WKRXJK KLV SRVLWLRQ DW &RXUW ZDV QRW RIILFLDO KH ZDV XQGHU WKH SURWHFWLRQ RI ERWK WKH 4XHHQ DQG /HLn FHVWHU DQG KH ZDV FRQVLGHUHG WKH 4XHHQnV DVWURORJHU LQ FKLHI$FFRUGLQJ WR 0LVV
PAGE 89

:H OHDUQ IURP 0RIIHW WKDW KH ZDV DOVR WKH WXWRU RI 6LU 3KLOLS 6LGQH\ DV D \RXQJ PDQ SUHFLVHO\ H[FHOOHQW DQG LQVSLUHG ZLWK WUXH UHOLJLRQ KH IHDUHG OHVW WRR UHFHSWLYH WR WKH IDEOHV RI VRRWKVD\HUV KH PLJKW LQ UDVKQHVV GLn PLQLVK WKH 'LYLQH 0DMHVW\ DOZD\V KHOG LQ UHYHUHQFHf DQG WLH GRZQ 'LYLQH 3URYLGHQFH HYHU\ZKHUH DQG DOZD\V GLVSRVHU RI DOO WKLQJVf WR SDUWLFXODU PRGHV DQG PHDQV 6LGQH\@ SUHVVHG LQWR WKH LQQHUPRVW SHQHWUDOLD RI FDXVHV DQG E\ WKDW WRNHQ OHG E\ *RG ZLWK 'HH DV WHDFKHU DQG ZLWK '\HU DV FRPSDQLRQ KH OHDUQHG FKHPLn VWU\ >LWDOLFV PLQH@ WKDW VWDUU\ VFLHQFH ULYDO WR QDWXUH 7KLV GHVFULSWLRQ JLYHV XV DQ DFXWH JOLPSVH RI ZKDW LW ZDV OLNH WR EH LQLWLDWHG LQWR WKH P\VWHULHV LQ (OL]DEHWKDQ (QJODQG :H FDQ LPDJLQH WKDW 6LGQH\ DQG '\HU ZHUH YHU\ PXFK FRQFHUQHG ZLWK WKH PRUDO DQG UHOLJLRXV LPSOLFDWLRQV LQn YROYHG LQ WKH DVVXPSWLRQ RI WKH SRZHUV DQG SUHURJDWLYHV RI WKH 5HQDLVVDQFH PDJXV :H PXVW QRW IRUJHW WKDW LQ WKH VL[n WHHQWK FHQWXU\ WKH OHJHQG RI WKH DUFKPDJLFLDQ )DXVW ZDV WDNHQ VHULRXVO\ 6LGQH\nV DOFKHPLFDO DFWLYLWLHV ZHUH DSSDUn HQWO\ FRQWDJLRXV IRU HYHQ KLV VLVWHU 0DU\ +HUEHUW &RXQWHVV RI 3HPEURNH ZDV LQYROYHG $XEUH\ VWDWHV WKH PDWWHU WKXV ,Q KHU WLPH :LOWRQ KRXVH ZDV OLNH D &ROOHJH WKHUH ZHUH VR PDQ\ OHDUQHG DQG LQJHQLVH SHUVRQV 6KH ZDV WKH JUHDWHVW SDWURQHVVH RI ZLWW DQG OHDUQLQJ RI DQ\ 6KH ODG\ LQ KHU WLPH 6KH ZDV D JUHDW FK\PLVW DQG VSHQW \HDUO\ D JUHDW GHDO P WKDW VWXG\ >LWDOLFV PLQH@ NHSW IRU KHU ODERUDWRU LQ WKH KRXVH $GULDQ *LOEHUW YXOJDUO\ FDOOHG 'U *LOEHUWf KDOIH EURWKHU WR 6LU :DOWHU 5DOHLJK ZKR ZDV D JUHDW FK\PLVW LQ WKRVH GD\V $OVR RQH %RVWRQ D JRRG FK\PLVW D 6DOLVEXU\ PDQ ERUQH ZKR GLG XQGRH KLPVHOI E\ VWXG\LQJ WKH SKLORVRSKHUnV VWRQH DQG VKH ZRXOG KDYH NHSW KLP EXW KH ZRXOG KDYH DOO WKH JROG WR KLPVHOIH DQG VR G\HG WKLQN LQ D $W :LOWRQ LV D JRRG OLEUDU\ ZKLFK ZDV LQ WKLV OHDUQHG ODGLHnV WLPH n

PAGE 90

)URP DOO DFFRXQWV DOFKHP\ VHHPV WR KDYH EHHQ D FRQVWDQW SUHRFFXSDWLRQ IRU 6LU :DOWHU 5DOHLJK HVSHFLDOO\ RQ KLV VHD YR\DJHV 6LU :DOWHU 5DOHLJK ZDV D JUHDW FK\PLVW DQG DPRQJVW VRPH 0VV UHFHLSWV KDYH VHHQ VRPH VHFUHWV IURP KLP +H VWXG\HG PRVW LQ KLV VHDYR\DJHV ZKHUH KH FDUULHG DOZD\V D WUXQNH RI ERRNHV DORQJ ZLWK KLP DQG KDG QRWKLQJ WR GLYHUW KLPA6 5DOHLJKnV ERRNV ZHUH ZLWK KLP HYHQ GXULQJ KLV FRQILQHPHQW LQ WKH 7RZHU RI /RQGRQ GXULQJ WKH UHLJQ RI -DPHV 6FKRODUn VKLS KDV FRQILUPHG WKDW WKH FROOHFWLRQ LQFOXGHG ZRUNV RQ DOFKHP\ DQG WKH RFFXOW $ ODERUDWRU\ ZDV VHW XS IRU KLP WKHUH DQG DORQJ ZLWK D IHOORZ SROLWLFDO SULVRQHU +HQU\ 3HUF\ QLQWK (DUO RI 1RUWKXPEHUODQG NQRZQ DV WKH :L]DUG (DUO DQG D WULR RI IUHTXHQW YLVLWRUV:DOWHU :DUQHU 7KRPDV +DULRW DQG 5REHUW +XHVf§ZKR ZHUH NQRZQ DV WKH 7KUHH 0DJL KH ZDV HQJDJHG LQ YDULRXV H[SHULPHQWV S P 5DWWDQVL KDV LQYHVWLJDWHG WKH LQIOXHQFH ZKLFK 5DOHLJKnV LQWHUHVW LQ DOFKHP\ DQG QDWXUDO PDJLF H[HUWHG RQ WKH +LVWRU\ RI WKH :RUOG ZKLFK KH FRPSRVHG GXULQJ KLV LQFDUFHUDWLRQ 7KH ILQHVW FROOHFWLRQ RI ERRNV DQG PDQXVFULSWV LQ (OL]DEHWKDQ (QJODQG ZDV VLJQLILFDQWO\ HQRXJK WKDW RZQHG E\ -RKQ 'HH $Q HPLQHQW KLVWRULDQ RI VFLHQFH )UDQFLV 5 -RKQVRQ ZKR HPSKDVL]HV WKH VWULFWO\ VFLHQWLILF UDWKHU WKDQ WKH RFFXOW GHVFULEHV WKH VLJQLILFDQFH RI 'HHnV OLEUDU\ WKXV 'XULQJ WKH WKLUG TXDUWHU RI WKH FHQWXU\ -RKQ 'HH DQG KLV IULHQGV DQG SXSLOV FRQVWLWXWHG WKH VFLHQWLILF DFDGHP\ RI (QJODQG 7KURXJK 'HHnV LQWLPDWH DFTXDLQWn DQFH DQG FRUUHVSRQGHQFH ZLWK DOO WKH PRVW HPLQHQW

PAGE 91

VFLHQWLVWV RQ WKH &RQWLQHQW WKH (QJOLVK JURXS ZDV NHSW LQ FRQVWDQW WRXFK ZLWK DOO WKH ODWHVW LGHDV DQG GLVFRYHULHV RULJLQLDWLQJ DEURDG 'HHnV XQKHHGHG SOHD WR 4XHHQ 0DU\ WKDW WKH DQFLHQW ERRNV DQG PDQXVFULSWV GLVSHUVHG ZLWK WKH GHVWUXFWLRQ RI WKH PRQDVWHULHV EH UHFRYHUHG LQ RUGHU WR IRXQG WKHUHZLWK D JUHDW 1DWLRQn DO /LEUDU\ LV ZHOO NQRZQ :KHQ KH SHUFHLYHG WKDW QRWKLQJ ZDV JRLQJ WR FRPH RI WKLV VXJJHVWLRQ KH VHW DERXW IRUPLQJ KLV RZQ OLEUDU\ RI VFLHQWLILF ERRNV DQG PDQXVFULSWV ZKLFK E\ KDG JURZQ WR RYHU IRXU WKRXVDQG YROXPHV ,W ZDV XQGRXEWHGO\ WKH JUHDWHVW VFLHQWLILF OLEUDU\ LQ (QJODQG DQG SUREDEO\ QRW VXUn SDVVHG LQ (XURSH IRU 'HH QRW RQO\ KDG FROOHFWHG D YDVW VWRUH RI LPSRUWDQW PHGLHYDO PDQXVFULSWV RQ VFLHQFH ZKLFK KH FRXOG JHW WKH PRUH UHDGLO\ EHFDXVH WKH\ ZHUH OLWWOH YDOXHG E\ WKH SOXQGHUHUV RI WKH PRQDVWLF KRXVHVf EXW KH KDG DOVR VHHQ WR LW WKDW DOO WKH ODVWHVW SULQWHG ZRUNV RQ WKH PDWKHPDWLFDO VFLHQFHV VKRXOG EH IRXQG RQ KLV VKHOYHV 7KLV JUHDW OLEUDU\ ZDV DOZD\V DW WKH GLVSRVDO RI 'HHnV IHOORZ VFLHQWLVWV DPRQJ KLV IULHQGV DQG SXSLOV ,I RQH EHOLHYHV WKDW WKH ILUVW HVVHQWLDO DQG WKH WUXH FHQWHU RI DQ\ XQLYHUVLW\ LV LWV OLEUDU\ 'HHnV FLUFOH PLJKW WUXO\ EH WHUPHG WKH VFLHQWLILF XQLYHUVLW\ RI (QJODQG GXULQJ WKH SHULRG IURP DERXW WR A 7R ZKLFK PXVW EH DGGHG 0LVV
PAGE 92

DQG PHGLDHYDO ZULWHUV XSRQ DOFKHP\ DQG WKH SKLORVRSKHUnV VWRQH +HUPHV 7ULVPHJLVWXV *HEHU $OEHUWXV 0DJQXV -RKQ 6DFURERVFR 5D\PRQG /XOO\ 3KLOLS $OVWDGH DQG $UQROG GH 9LOOD 1RYDA 0DQ\ RI WKH DXWKRUV ZKRVH LQIOXHQFH FDQ EH WUDFHG LQ WKH +HUPHWLVP RI 7KH )DHULH 4XHHQH ZHUH UHSUHn VHQWHG LQ WKLV OLEUDU\ )URP WR WKH PDJXV *LRUGDQR %UXQR ZDV LQ (QJODQG WR LQWURGXFH D VSHFLHV RI PDJLFDO +HUPHWLVP ZKLFK DV 0LVV ,Q WKH 6SDFFLR@ LQ WKH GHGLFDWLRQ WR 6LGQH\ %UXQR H[n SODLQV WKDW WKH JRGV UHSUHVHQW WKH YLUWXHV DQG SRZHUV

PAGE 93

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n FHVVIXO ZKROH %UXQR VHHPV WR KDYH VHHQ (OL]DEHWKDQ VRFLHW\ DV GLYLGHG LQWR WZR IDFWLRQV WKRVH LQLWLDWHG LQWR WKH P\VWHULHV DQG WKRVH QRW 7KH ODWWHU ZHUH UHSUHVHQWHG E\ WKH 2[IRUG SHGDQWV ZLWK ZKRP %UXQR ZDV HQJDJHG LQ FRQWURYHUV\ DOPRVW LPPHGLn DWHO\ XSRQ KLV DUULYDO LQ (QJODQG ZLWK WKH IRUPHU KH IRXQG KLPVHOI YHU\ PXFK DW KRPH IRU WKLV ZDV WKH FXOW RI 4XHHQ (OL]DEHWKAp 7KRPDV 'HNNHU LQ WKH SURORJXH WR 2OG )RUWXQDWXV GHVFULEHV LW WKXV $UH \RX WKHQ WUDYHOOLQJ WR WKH WHPSOH RI (OL]D" IHHEOH OLPEV WUDYHO (YHQ WR KHU WHPSOH DUH P\ 6RPH FDOO KHU 3DQGRUD VRPH *ORULDQD VRPH OLQJ &\QWKLD VRPH %HOSKRHEH VRPH $VWUDHD DOO QDPHV WR H[SUHVV VHYHUDO ORYHV EXW RQH FHOHVWLDO ERG\ FUHDWH EXW RQH VRXO DP RI KHU RZQ FRXQWU\ DQG ZH DGRUH KHU E\ WKH QDPH RI (OL]D E\ WKH V DOO WKRVH QDPHV PDNH DV DOO WKRVH ORYHV PHHW WR $QG %UXQR ZKR LW ZRXOG DSSHDU ZDV TXLFNO\ DFFHSWHG LQWR WKH LQQHUPRVW UHFHVVHV RI WKH WHPSOH RI (OL]D SDLG KLV UHn VSHFWV DOVR :KHUH ZLOO \RX ILQG RQH RI WKH PDVFXOLQH JHQGHU ZKR LV WKH VXSHULRU RU WKH HTXDO RI WKLV GLYLQH (OL]Dn EHWK GLYD (OL]DEHWWDf ZKR UHLJQV LQ (QJODQG DQG ZKRP +HDYHQ KDV VR HQGRZHG DQG IDYRXUHG VR ILUPO\ PDLQWDLQHG LQ KHU VHDW WKDW RWKHUV VWULYH LQ YDLQ WR GLVSODFH KHU ZLWK WKHLU ZRUGV DQG DFWLRQV" 1RQH LQ DOO

PAGE 94

KHU UHDOP LV PRUH ZRUWK\ WKDQ WKLV ODG\ KHUVHOI DPRQJVW WKH QREOHV QRQH LV PRUH KHURLF WKDQ VKH DPRQJVW GRFWRUV QRQH PRUH OHDUQHG DPRQJVW FRXQn VHOORUV QRQH KDYH D ZLVHU KHDG 0LVV
PAGE 95

FHOHEUDWHG WKH FXOW &RQQHFWHG ZLWK WKH FXOW RI (OL]DEHWK ZDV DQ DQQXDO HYHQW ZKLFK VHHPV WR KDYH LQIOXHQFHG ERWK 6LGQH\nV $UFDGLD DV ZHOO DV 6SHQVHUnV 7KH )DHULH 4XHHQH WKLV ZDV WKH WLOW ZKLFK ZDV KHOG RQ WKH DQQLYHUVDULHV RI (OL]DEHWKnV DFFHVVLRQ WR WKH WKURQH H &KDPEHUV FRQVLGHUV WKDW LW ZDV LQ WKH SDJHDQn WU\ DVVRFLDWHG ZLWK WKH $FFHVVLRQ 'D\ 7LOW WKDW ZDV KHOG DW :RRGVWRFN LQ WKDW WKH )DLU\ 4XHHQ ILUVW HQWHUHG OLWHUn DWXUH 0LVV DW WKH :RRGVWRFN (Qn WHUWDLQPHQW@ VHHPV WR EH XVLQJ WKH VDPH NLQG RI YRFDEXODU\ DV 6SHQVHU 0LVV
PAGE 96

NQLJKWV DW DQ $FFHVVLRQ 'D\ 7LOW ,I RQH ZLVKHV WR VWXG\ WKH DEVWUXVH SKLORVRSKLFDO PHDQLQJV ZKLFK FRXOG EH GUDZQ RXW RI VXFK LPSUHVD VKLHOGV RQH FDQQRW GR EHWWHU WKDQ UHDG ZKDW %UXQR KDV WR VD\ $W WKH EHn JLQQLQJ RI WKLV ZRUN WKHUH LV DQ DGGUHVV WR WKH ODGLHV RI (QJODQG DQG WR WKH RQH JUHDW DPRQJ KDUGO\ WKHP DV D VXQ DPLGVW WKH DQ H[DJJHUDWLRQ WR VD\ VWDUV WKDW WKH 'LDQD ZKR WKDW LW VKLHOGEHDULQJ SKLORVRSKLF HQWKXVLDVWV DUH WR EH IDQFLHG DV GLVSOD\n LQJ WKH WUDYDLO RI WKHLU VRXOV EHIRUH 4XHHQ (OL]DEHWK DQG WKH ODGLHV RI KHU FRXUWf§DV LW ZHUH WLOWLQJ WKH SUL]H RI LOOXPLQDWLRQ E\ WKH KLJKHVW GLYLQH OLJKW $QG DW WKH HQG RI WKH (URLFL IXURUL QLQH EOLQG PHQ WKHLU VLJKW DQG EHFRPH QLQH LOOXPLQDWL ZKHQ WKH WKH\ DUULYH XQGHU ,VOHV DQG VN\ LQWR WKH SUHVHQFH RI RI WKH %ULWLVK WKH ORYHO\ Q\PSKV FRPH RI )DWKHU 7KDPHV RQH RI ZKRPWKH JUHDWHVW DPRQJ WKHPf§RSHQV DQ XUQ DQG WKH GLYLQH VSOHQGRXU LV UHn YHDOHG 7KH SUL]H RI LOOXPLQDWLRQ E\ WKH KLJKHVW GLYLQH OLJKW LV RI FRXUVH SUHFLVHO\ ZKDW 6SHQVHUnV )DHULH 4XHHQH LV DOO DERXW $OVR VLJQLILFDQW LV WKH OLNHOLKRRG WKDW 6LU 3KLOLS 6LGQH\ KDG D FHQWUDO LQYROYHPHQW LQ WKHVH HYHQWV DV 3KLOL VLGHV WKH 6KHSKHUG .QLJKW 0LVV
PAGE 97

QREOH SHUVRQ LQ YHUWXRXV DQG JHQWOH GLVFLSOLQH ZKLFK 6SHQVHUnV SRHP VHHNV WR IDVKLRQ :H KDYH VHHQ WKDW WKH JRDO RI WKH HVRWHULF WUDGLWLRQ LV WR FUHDWH MXVW VXFK DQ LQGLYLGXDO 7KH IDFW KDV EHHQ HVWDEOLVKHG WKDW DOFKHP\ DQG +HUPHWLVP ZHUH SDVVLRQDWHO\ SXUVXHG E\ 6LGQH\ DQG KLV FORVH IULHQGV 6SHQVHUnV UHODWLRQVKLS WR 6LGQH\ '\HU 5DOHLJK /HLFHVWHU DQG RWKHUV LV ZHOO NQRZQ LW VHHPV IDLUO\ FHUn WDLQ WKDW LW ZDV 6LGQH\ ZKR VHW 6SHQVHU WR WKH WDVN RI ZULWLQJ 7KH )DHULH 4XHHQH LQ WKH ILUVW SODFHA :H NQRZ IURP D OHWWHU RI 6SHQVHUnV WR *DEULHO +DUYH\ WKDW WKH SRHP ZDV XQGHUZD\ DV HDUO\ DV $SULO ZKLFK ZDV ZKHQ 6LGn QH\nV LQIOXHQFH RQ 6SHQVHU ZDV DW LWV SHDN ,I DV 0LVV
PAGE 98

DOFKHP\ ZRXOG KDYH EHHQ UHJDUGHG DV D P\VWLFDO RU DV ZH ZRXOG VD\ SV\FKRWKHUDSHXWLF GLVFLSOLQH DQG VXVSHFW WKDW VXFK UHDGHUV PLJKW KDYH FRQVLGHUHG WKDW DQ HSLF SRHP E\ D SKLORVRSKLFDO SRHW LQ WKH WUDGLWLRQ RI &KDXFHU PLJKW LQGHHG UHTXLUH DQ DOFKHPLFDO LQWHUSUHWDWLRQA $UQROG GH 9LOOD 1RYD RQH RI 'HHnV IDYRULWH DXWKRUV KDV VWDWHG WKDW RQO\ KH ZKR FDQ FUHDWH WKH VWRQH RI WKH SKLORVRSKHUV XQGHUVWDQGV WKH ZRUGV DERXW WKH VWRQHZH PXVW UHPHPEHU WKDW OLNHn ZLVH 7KH )DHULH 4XHHQH ZRXOG KDYH EHHQ D PDJLFDO SRHP RQO\ IRU WKRVH ZKR FRXOG ILQG D ZD\ WR XQGHUVWDQG WKH DOOHJRU\

PAGE 99

127(6 +HUPWLFD HG WUDQV :DOWHU 6FRWW /RQGRQ f A+HUPWLFD +HUPWLFD +HUPWLFD +HUPWLFD A+HUPWLFD &KDUOHV 1DXHUW -U $JULSSD DQG WKH &ULVLV RI 5HQDLVVDQFH 7KRXJKW 8UEDQD f S (GJDU :LQG 3DJDQ 0\VWHULHV LQ WKH 5HQDLVVDQFH QG HG UHY 1HZ
PAGE 100

A&I ( + *RPEULFK 7KH 9LVXDO ,PDJH LQ 1HR3ODWRQLF 7KRXJKW -:&, ;;,, f ) +DUWODXE $UFDQD $UWLV =HLWVFKULIW )U .XQVWJHVFKLFKWH 9, f ‘A0XUULQ S )UDQFHV $
PAGE 101

)UDQFLV 5 -RKQVRQ $VWURQRPLFDO 7KRXJKW LQ 5HQDLVn VDQFH (QJODQG %DOWLPRUH f S I -RKQ 'HH S I &KDUORWWH )HOO6PLWK -RKQ 'HH /RQGRQ f S
PAGE 102


PAGE 103

IRU KLP ZDV WKDW KH EHOLHYHG LW WR EH DQ DOFKHPLFDO DOOHJRU\ 7KH VDPH UHDVRQ DFFRXQWV IRU VHYHUDO RWKHU RI KLV SXEOLFDWLRQV VXFK DVf DQ HGLWLRQ RI DQG FRPPHQWDU\ RQ D PHGLDHYDO )UHQFK SRHP /D )RQWDLQH 3HULOOHXVH ZKLFK KH EHOLHYHG WR EH WKH VRXUFH RI WKH 5RPDQ GH OD 5RVH KH ZURWH D SUHIDFH IRU DQG ZDV LQVWUXPHQWDO LQ SXEOLVKLQJ D )UHQFK WUDQVODWLRQ E\ -HDQ 0DUWLQ RI WKH +\SQHURWRPDFKLD $OO WKHVH *RKRU\ LQWHUSUHWHG DV KHDYLO\ YHLOHG DOFKHPLFDO WUHDWLVHV 3 :DONHU 6SLULWXDO DQG 'HPRQLF 0DJLF IURP )LFLQR WR &DPSDQHOOD 6WXGLHV RI WKH :DUEXUJ ,QVWLWXWH 9RO ;;,, /RQGRQ f S If -RKQ 2n&RQQRU LQ D UHFHQW VWXG\ $PDGLV GH *DXOH DQG LWV ,QIOXHQFH RQ (OL]DEHWKDQ /LWHUDWXUH 1HZ %UXQVZLFN 1HZ -HUVH\ f KDV IRXQG SDUDOOHOV EHWZHHQ WKH $PDGLV DQG VHYHUDO PDMRU ZRUNV RI WKH (QJOLVK 5HQDLVVDQFH LQFOXGLQJ WKH $UFDGLD DQG WKH )DHULH 4XHHQH WR ZKLFK KH DOORWV D FKDSWHU HDFK SS f ,I WKHVH SDUDOOHOV ZHUH VWXGLHG IRU WKHLU SRVVLEOH HVRWHULF UDWKHU WKDQ PHUHO\ VXSHUILFLDO VLPLODULWLHV LQ WKH FRQWH[W VD\ RI DOFKHPLFDO V\PEROLVP WKH UHVXOWV PLJKW EH UDWKHU VWXQQLQJ ,Q D ZRUN ZKLFK ZDV PXFK DGPLUHG LQ WKH 5HQDLVVDQFH %DUQDEH *RRJHnV WUDQVODWLRQ RI 0DUFHOOXV 3DOLQJHQLXVn 7KH =RGLDNH RI /LIH WKHUH LV D GHVFULSWLRQ RI WKH 3KLORVRSKHUnV 6WRQH DV ZHOO DV D YHLOHG DFFRXQW RI WKH RSXV 7KHUHIRUH WKH ROGH 3+,/2623+(56 E\ ILQH LQXHQWLRQ IRXQG $ &(57$,1( 6721( WKDW ZKHUH WKH\ ZHQW RU WUDXHLOHG DQ\ JURXQGH 3URYLGHG WKHP RI QHHGIXOO WKLQJHV DQG QHXHU ZRXOG GHFD\ %\ DLGH ZKHURI IXOO PDQ\ ODQGHV DQG FRXQWLHV IDUUH DZD\ 7K\ PLJKW EHKRXOG DQG DOZDLHV OHDUQH RI PDQ\ VXQGU\ DUWV $QG WKXV RI ROGH WKH *RGV DERXH EHVRXJKW ZLWK KXPEOH KHDUWV 7KH VDFULILFH RQ DOWDU VODLQH EHIRUH KH ZDV WKH WUDGH 7R 0(5&85,( WKH 6211( DQG 0221( /R WKXV WKHLU SUDLHUV PDGH 7,7$1 EHDXW\ RI WKH ZRUOGH IDLUHVW *RG LQ VLJKW WKRX /$721$ GULXLQJ KHQFH WKH VKDGRZHV RI WKH QLJKW 6:,)7/< )/((7,1* 5(67/(66( ,03( RI ,28( DQG 0$/$ ERUQH

PAGE 104

7KDW DEOH DUWH WR FKDQJH WK\ VHOIH WR VKDSHV RI VXQn GU\ IRUPH %H SUHVHQW KHDUH DQG ERZ \RXUH HDUHV WR RXUH FRPn SODLQWV DQG FU\ %HKRXOG D IHZ ZKRVH PLQGHV DQG ZLWWV DUH LQ GHJUHH IXOO KLH 7KDW ZLVHGRPH PRVW RI DOO HVWHHPH ZK\OH FDXVH RI HXHU\ WKLQJ $QG VHFUHW VWDWH RI QDWXUH K\G WR OLJKW ZH VHHNH WR EULQJ $QG PHWH ZLWK PLQGH WKH PLJKWLH VN\H DV QHHGH GRWK RXHUWUHDG $QG PDQ\ JUHDW PLVKDSV ZH IHHOH RI KXQJHU DOPRVW GHDG :K\OH DV WKH GROWLVKH FRPPRQ VRUW GRH DOO WKLQJHV UDNH DQG VQDWFKH $QG DOO WKH PRQH\ KHDSLQJ YS LQWR WKHLU FRIIHUV FDWFKH )RU DQ\ RI WKHP GRWK SLWLH YV DQG LI ZH DVNH D P\WH 7KHQ SRLQWLQJ DW YV VWUDLJKW WKH\ LHVW DQG PDNH RI YV EXW OLJKW :KHUHE\ ZH DUH FRQVWUDLQG WR GHOXH RU HOVH DWWHQn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n ZLWK EH VODLQH ,Q ERVRPH WKUXVW RI +<$/(6 KLP OHW WKH *RGV UHFHDXH :KRPH /(01,$1 FRXQWU\ ZRUVKLSSHWK DQG K\H DORIW KLP KHDXH

PAGE 105

7KHQ EXU\ KLP LQ ZDUPHG ZRPEH DQG FRUUXSW KLP YQGRH :KRVH GURSSLQJ LR\QWHV D VSULWH VKDOO SHDUFH WKDW IDOOHV RXU ERGLHV IUR $QG ZRQGHURXVO\ VKDOO FDOO DJDLQH GHFHDVGH DQG TXHQn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n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n )DFVLPLOHV t 5HSULQWV 1HZ
PAGE 106

RI 3DOLQJHQLXV 6WHOODWXV DV RZUH ZRUWKLH 0U 7KRPDV 'LJJHV :KR HVWHHPHV KLP DERRXH DOO PRGHUQ SRHWV IRU D SUHJQDQW LQWURGXFWLRQ LQWR $VWURQRPLH t ERWK SKLORVRSKLHV :LWK D ILQH WRXFK RI WKH SKLORVRSKHUV VWRQH LWVHOI WKH TXLQWHVVHQFH RI QDWXUH t DUW VXEOLPHG & 0RRUH 6PLWK HG *DEULHO +DUYH\nV 0DUJLQDOLD 6WUDWIRUGXSRQ$YRQ f S f 5RVHPXQG 7XYH VXPPDUL]HV WKH VLJQLILFDQFH RI 3DOLQn JHQLXVn SRHP WKXV $PRQJ 5HQDLVVDQFH /DWLQ SRHPV LW HQMR\HG LQ (QJODQG D SRSXODULW\ SHUKDSV ULYDOHG RQO\ E\ 0DQWXDQnV HFORJXHV LW GLG QRW OLNH 0DQWXDQ IRUP PHQnV VW\OHV EXW LW KHOSHG WR VKDSH WKH WKLQNLQJ RI YHU\ PDQ\ WK DQG WK FHQWXU\ (QJOLVK ZULWHUV DQG UHDGHUV 7KLV SRHP ZDV SUHVFULEHG DV D WH[WERRN LQ PDQ\ VFKRROV LW ZDV D SRHP ZKLFK KDG PRUH WKDQ VL[W\ HGLWLRQV WHQ RI WKHP LQ (QJODQG ZKLFK ZDV SUDLVHG E\ %UXQR ZKLFK ZDV VR DGPLUHG E\ RQH RI (QJODQGnV RXWVWDQGLQJ PDWKHPDWLFDO VFLHQWLVWVf§7KRPDV 'LJJHVWKDW KH OHDUQHG LWV WK ERRN ELH KDUW ZKLFK DSSHDUHG LQ *RRJHnV (QJOLVK WUDQVODWLRQ ILUVW SDUWLDO WKHQ FRPSOHWHf LQ ILYH HGLWLRQV IURP WR JDWKHULQJ PDQ\ SUDLVHV HYHQ VXFK D RQH DV WKH FULWLFDO +DUYH\nV LQFOXVLRQ RI LW DPRQJ ERRNV ZKRVH WUDQVODWRUV KDG QRW ZURQJHG WKHLU DXWKRUV 2QH VKRXOG DGG WKDW 6KDNHVSHDUH SUREDEO\ VWXGLHG ,, ,QWURGXFWLRQ 7KH =RGLDNH RI /LIH S Yf ,W KDV LW EHHQ VKRZQ WKDW 6SHQVHU VWXGLHG LW $PRQJ WKH VWDWXWHV ZKLFK *ULQGDO VHW XS IRU KLV PDVWHUV LV WKH IROORZLQJ 7KH PDVWHU LV DGYLVHG WR WHDFK KLV VFKRODUV 3DOLQJHQLXV 6HGXOLXV DQG 3UXGHQWLXV -RKQ 6WU\SH /LIH RI *ULQGDO 2[IRUG f S f 0LVV 7XYH KDV VWXGLHG 3DOLQJHQLXVn LQIOXHQFH RQ 6SHQVHU LQ 6SHQVHU DQG WKH =RGLDNH RI /LIH -(*3 ;;;,9 f (GJDU +LOO 'XQFDQ KDV VWXGLHG DOFKHPLFDO UHIHUHQFHV LQ 'RQQH 'RQQHnV $OFKHPLFDO )LJXUHV (/+ ,; f f DQG HVSHFLDOO\ -RQVRQ LQ 7KH $OFKHP\ LQ -RQVRQnV 0HUFXU\ 9LQGLFDWHG 63 ;;,; f -RQVRQnV 8VH RI $UQDOG RI 9LOOD 1RYDnV 5RVDULXP 34 ;;, f DQG -RQVRQnV $OFKHPLVW DQG WKH /LWHUDWXUH RI $OFKHP\ 30/$ /;, f ,W LV SUREDEO\ QRW ZLWKRXW VLJQLILFDQFH WKDW 'RO &RPPRQ DOVR UHIHUUHG WR DV 5R\DO 'ROf WKH IHPDOH FROOHDJXH RI 6XEWOH WKH DOFKHPLVW LQ -RQVRQnV 7KH $OFKHPLVW f LV UHIHUUHG WR DOVR DV WKH TXHHQ RI )DHU\ ,LL ,LL f 'XQFDQ GRHV QRW FRPPHQW RQ WKLV KLV VWXGLHV ZHUH GRQH SULRU WR WKH SXEOLn FDWLRQ RI (QJOLVK WUDQVODWLRQV RI -XQJnV LQYHVWLJDWLRQV RI DOFKHPLFDO V\PEROLVP DQG XQGHUVWDQGDEO\ DUH FRQFHUQHG ZLWK VXSHUILFLDO DVSHFWV RI DOFKHP\f EXW WKH DOOXVLRQ PLJKW VKRZ WKDW -RQVRQ UHFRJQL]HG D UHODWLRQVKLS EHWZHHQ HVRWHULF DOFKHP\ DQG 6SHQVHUnV 7KH )DHULH 4XHHQH DQG ZDV VDWLUL]LQJ LW

PAGE 107

,W ZDV FRQVLGHUHG WKDW &KDXFHU KLPVHOI ZDV DQ DOn FKHPLVW *DUHWK : 'XQOHDY\ LQ 7KH &KDXF LQ 7ULQLW\ &ROOHJH 'XEOLQ 06 $PE ;,,, f SRLQWV RXW WKDW WKLV SDUWLFXODU PDQXVFULSW ZKLFK RULJLQDOO\ FDPH IURP WKH OLEUDU\ RI -RKQ 'HH PD\ KDYH UHn LQIRUFHG WKH (OL]DEHWKDQ FRQYLFWLRQ WKDW &KDXFHU ZDV DQ ,W LV WKH W\SH RI PDQXVFULSW WKDW D ELEOLRSKLOH DQG DOFKHPLVW OLNH 'HH ZRXOG KDYH VRXJKW RXW SXUFKDVHG RU KDG FRSLHG IRU KLP DQG WKHQ DQQRWDWHG ERWK IRU LWV &KDXFHU DWWULEXWLRQ DQG IRU LWV DVVRFLDWLRQV ZLWK >WKH IDPRXV WK FHQWXU\ (QJOLVK DOFKHPLVW@ *HRUJH 5LSOH\ S f 7KH IROn ORZLQJ OLVW IURP +DUYH\nV PDUJLQDOLD LV VLJQLILFDQW 7KH DUWLILFLDO GHVFULSWLRQ RI D FXQQLQJ PDQ RU 0DJLFLDQ RU $VWURORJHU LQ WKH )UDQNOLQV WDOH 7ZR FULVWDOO VWRQHV DUWLILFLDOO\ VHWW LQ WKH ERWRP RI WKH IUHVK ZHOO LQ WKH URPDQW RI WKH 5RVH 7KH 1DWLXLWLH RI +\SHUPHVWUH LQ KHU /HJHQG )RZUH SUHVHQWV RI PLUDFXORXV YHUWX $Q KRXUVH t D VZRUD D JODVVH t D ULQJ LQ WKH 6TXLHUV WDOH 7KH QDWLXLWLH RI 2HGLSXV DUWLILFLDOO\ FDOFXODWHG LQ WKH ILUVW SDUW RI /LGJDWV VWRULH RI 7KHEHV ELH WKH FXQQLQJHVW $VWURQRPHUV t 3KLORVRSKHUV RI 7KHEHV 7KH GLVFRXHULH RI WKH FRXQWHUIHLW $OFK\PLVW LQ WKH WDOH RI WKH &KDQRQV $ *HUPDQ WUDQV RI $UV $XULIHUD RI SUREDEO\ @ V

PAGE 108

3$57 ,, $1 $/&+(0,&$/ ,17(535(7$7,21 2) 7+( )$(5,( 48((1( :H KDYH VHHQ WKDW HVRWHULF DOFKHP\ LV D P\VWLFDO DQG V\PEROLF SURFHGXUH E\ ZKLFK EDVH PHWDO LH WKH QDWXUDO PDQ WKH UDZ PDWHULDO SURYLGHG E\ 1DWXUHf FDQ EH WUDQVPXWHG LQWR SKLORVRSKLFDO JROG WKDW WKH PXFKJXDUGHG VHFUHW RI DOFKHP\ LV WKH XQFRQVFLRXV ZKLFK ZLWKRXW UHDOL]LQJ LW WKH DOFKHPLVWV KDG SURMHFWHG LQWR WKH FKHPLFDO UHDFWLRQV RFFXUn ULQJ LQ WKH KHUPHWLFDOO\ VHDOHG UHWRUW DQG ILQDOO\ WKDW DOFKHPLFDO WKHRU\ LV FRQFHUQHG ZLWK ZKDW ZH ZRXOG WRGD\ GHVn FULEH DV WKH VHSDUDWLRQ DQG V\QWKHVLV RI SV\FKLF RSSRVLWHV ,Q WKH SUHVHQW FKDSWHU ZH VKDOO VHH WKDW LQ %RRN RI 7KH )DHULH 4XHHQH WKH LQLWLDO RSSRVLWHV DUH 5HGFURVVH ZKR UHSn UHVHQWV WKH DOFKHPLFDO 6RO V\PEROL]LQJ WKH PDVFXOLQH FRQn VFLRXV DQG 8QD WKH DOFKHPLFDO /XQD V\PEROL]LQJ WKH FRQWUD VH[XDO RU IHPLQLQH XQFRQVFLRXV RI WKH PDOH SV\FKHr 7KH HQWLUH XQFRQVFLRXV SHUVRQDO DQG FROOHFWLYHf LV V\PEROL]HG E\ WKH KHUPDSKURGLWLF 0HUFXULXV ZKR FDQ EH VHSDUDWHG LQWR RSSRVLWHV DQG DQDO\]HG DFFRUGLQJ WR WKH IDPRXV DOFKHPLFDO D[LRP RI 0DULD 3URSKHWLVVDA 2QH 8QDf EHFRPHV 7ZR 'XHVVDf 7ZR EHFRPHV 7KUHH $UFKLPDJRf DQG RXW RI WKH 7KLUG FRPHV WKH 2QH DV WKH )RXUWK $UWKXUf 8QD DQG 'XHVVD DUH UHVSHFn WLYHO\ WKH OLJKW DQG GDUN IHPLQLQH DVSHFWV RI 0HUFXULXV

PAGE 109

$UWKXU DQG $UFKLPDJR WKH OLJKW DQG GDUN PDVFXOLQH DVSHFWV )ROORZLQJ WKH VSLULWXDO LQFHVW RU P\VWHULXP FRQLXQFWLRQLV RI 6RO 5HGFURVVHf DQG /XQD 'XHVVDf FRPHV WKH V\QWKHVLV DSSHDUDQFH RI $UWKXUf DQG WKH ILQDO FRQVROLGDWLRQ +RXVH RI +ROLQHVV DQG EHWURWKDO WR 8QDf 7KH RSXV DOFKHP\FXP SURJUHVVHV IURP WKH GHIHDW RI WKH ZLQJOHVV FKWKRQLF IHPn LQLQH SK\VLFDO GUDJRQ &DQWR ,f WR WKH YLFWRU\ RYHU LWV RSSRVLWH WKH ZLQJHG DHULDO PDVFXOLQH VSLULWXDO GUDJRQ &DQWR ;,f DQG WKXV UHSUHVHQWV WKH IXVLRQ RI RSSRVLWHV RU WKH PDNLQJ RI WKH ILOLXV SKLORVRSKRUXP :KDW WKLV PHDQV LV b WKDW WKH XQFRQVFLRXV KDV XQLWHG ZLWK WKH FRQVFLRXV LQ D QHZ V\QWKHVLV WR SURGXFH ZKDW ZH ZRXOG WHUP D SV\FKRORJLFDOO\ ZKROH LQGLYLGXDO SRVVHVVHG RI H[SDQGHG FRQVFLRXVQHVV ,W LV LQ WKLV ZD\ WKDW WKH nEORZQLVKH \RXQJH PDQ LV WUDQVIRUPHG LQWR WKH SHUIHFWHG 6DLQW *HRUJH RI (QJODQG ,Q WKH OHWWHU WR 5DOHLJK 6SHQVHU KDV VWDWHG KLV SXUSRVH WKXV 7KH JHQHUDO HQG RI DOO WKH ERRNH LV WR IDVKLRQ D JHQWOHPDQ RU QREOH SHUVRQ LQ YHUWXRXV DQG JHQWOH GLVFLSOLQH ,I ZH LQWHUSUHW 6SHQVHUnV OHWWHU LQ WKH OLJKW RI HVRWHULF WUDGLWLRQ DV VHW IRUWK LQ &KDSWHU ,,, RI WKLV VWXG\ ZH ZLOO VHH WKDW WKHVH UHPDUNV DUH E\ QR PHDQV VR HQLJPDWLF DV VFKRn ODUVKLS KDV WUDGLWLRQDOO\ KHOG WKHP WR EHA EXW GR LQGHHG UHYHDO WKH DXWKRUnV ZKROH LQWHQWLRQ LQ WKH FRXUVH RI WKLV ZRUNH fr 7KHUH LV QR UHDVRQ WR VXSSRVH WKDW WKLV VWDWHPHQW ZDV PHDQW LQ RWKHU WKDQ D VWULFWO\ OLWHUDO VHQVH LW KDSn SHQV WKDW DV ZH KDYH VHHQ HVRWHULF DOFKHP\ SURYLGHV D

PAGE 110

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f LW LV WKH SHUIHFWLRQ RI DOO WKH UHVW DQG FRQWHLQHWK LQ LW WKHP DOO WKHUHIRUH LQ WKH ZKROH FRXUVH PHQWLRQ WKH GHHGHV RI $UWKXUH DSSO\DEOH WR WKDW YHUWXH ZKLFK ZULWH RI LQ WKDW ERRNH 7KH FULWLFV ZKR KDYH EHHQ GLVWXUEHG E\ 6SHQVHUnV DOOXVLRQ WR $ULVWRWOH DQG WKH UHVW DQG KDYH VHULRXVO\ TXHVWLRQHG ZKHWKHU KH NQHZ ZKDW KH ZDV WDONLQJ DERXW KDYH SUREDEO\ EHHQ ORRNLQJ DW WKH ZURQJ $ULVWRWOH $ EHWWHU VRXUFH WKDQ WKH FDQRQLFDO ZULWLQJV LV WKH H[WHQVLYH FROOHFWLRQ RI DO 2 FKHPLFDO OLWHUDWXUH IDOVHO\ DWWULEXWHG WR $ULVWRWOH ,W LV WKHUHIRUH WR 3VHXGR$ULVWRWOH WKDW UHIHUHQFHV VXFK DV WKH RQH LQ WKH IROORZLQJ SDVVDJH IURP 7KRPDV 1RUWRQnV 2UGLQDO RI $OFKHP\ f SURSHUO\ EHORQJ +HUPHV 5DVLV *HEHU DQG $YLFHQ 0HUOLQ +RUWRODQ 'HPRFUDW DQG 0RULHQ %DFRQ DQG 5DLPRQG ZLWK RWKHUV PDQ\ PRH :URWH XQGHU FRYHUW DQG $ULVWRWOH DOVRHA ,W LV OLNHO\ WKDW WKHVH DUH WKH DXWKRULWLHV EHKLQG WKH DOn OXVLRQ WR $ULVWRWOH DQG WKH UHVW 7KH SUREOHP RI $UWKXU DV ZHOO DV RI RWKHU FKDUDFWHUV LQ 6SHQVHUnV SRHP LV UH

PAGE 111

VROYHG DV VRRQ DV WKH UHDGHU UHDOL]HV DV $QJXV )OHWFKHU KDV SRLQWHG RXW O WKDW WKHVH SHUVRQLILFDWLRQV FDQ EH VHHQ DV UHSUHVHQWLQJ DVSHFWV RI D VLQJOH SV\FKH ZRXOG VXJJHVW WKDW WKH\ DUH D UHVXOW RI WKH DOFKHPLFDO SURFHVV RI VHSDn UDWLRQ RI WKH VXEVWDQFH LQWR LWV FRPSRQHQW HOHPHQWV :KDW DSSHDUV WR EH D VWULNLQJ LQVWDQFH RI WKLV SURFHGXUH FDQ EH VHHQ ZLWK UHJDUG WR *X\RQ DQG %ULWRPDUW WKH SURWDJRQLVWV RI %NV ,, DQG ,,, UHVSHFWLYHO\ 7KH DOFKHPLVWV RIWHQ DOOXGH WR WKH 3HUVLDQ *X\RPDUW D YHUVLRQ RI WKH KHUPDSKURn GLWLF )LUVW 0DQ IURP ZKRVH EORRG WKH VHYHQ PHWDOV ZHUH b FUHDWHG ,W LV SRVVLEOH WKDW 6SHQVHU PD\ KDYH VSOLW WKH ELn VH[XDO *X\RPDUW LQWR WKH PDOH *8
PAGE 112

XQFRQVFLRXV LI WKH IRXU HOHPHQWV DUH QRW SURSHUO\ VHSDUDWHG DQG DQDO\]HG EHIRUH WKH\ DUH V\QWKHVL]HG DQG FRQVROLGDWHG WKH DGHSW PD\ IDOO SUH\ WR WKH WHPSWDWLRQV RI WKH GDUN DVSHFW RI 0HUFXULXV DQG WKXV VHUYH DV WKH LQVWLJDWRU RI KLV RZQ GHVWUXFWLRQ 6LQFH WKH ILOLXV SKLORVRSKRUXP LV WKH 2QH ZKLFK FRPHV RXW RI WKH 7KLUG DV WKH )RXUWK DQG WKLV RQO\ WRZDUG WKH HQG RI WKH RSXV WKLV LV WKH V\QWKHVLV ZKLFK SUHFHGHV WKH ILQDO FRQVROLGDWLRQ LQ WKH +RXVH RI +ROLQHVV RU LWV HTXLYDOHQWf LW LV HYLGHQW WKDW IRU D FRQVLGHUDEOH SHULRG RI WLPH WKH XQFRQVFLRXV LV WLOWHG WZR DJDLQVW RQH LQ IDYRU RI WKH GDUN RYHU WKH OLJKW ,Q RWKHU ZRUGV EHIRUH WKH HPHUn JHQFH RI $UWKXU WKH VSLULWXDO SRZHUV VWUXJJOLQJ IRU SRVVHVVLRQ RI 5HGFURVVHnV VRXO DUH UHSUHVHQWHG E\ 8QD RQ WKH RQH KDQG DQG WKH WHDP RI $UFKLPDJR DQG 'XHVVD RQ WKH RWKHU 7KH VWDNHV DUH FOHDUO\ YHU\ KLJK KHUH WR XQGHUWDNH WKH RSXV DOFK\PLFXP LV LQ VRPH UHVSHFWV OLNH IRUFLQJ D FDPHO WKURXJK WKH H\H RI D QHHGOH DW EHVW LW LQYROYHV RXWZLWWLQJ WKH GHYLO DW KLV RZQ JDPH 6PDOO ZRQGHU WKDW VR PDQ\ RI WKH DGHSWV DV WKH DOFKHPLFDO WUHDWLVHV SRLQW RXW SHULVKHG LQ WKH DWWHPSW 6PDOO ZRQGHU WRR WKDW 6SHQVHU FRQVLGHUHG $UWKXU WKH PDLQ KHUR RI WKH SRHP 6SHQVHUnV DFFRXQW RI $UWKXUnV VHDUFK IRU WKH )DHULH 4XHHQH LOOXVWUDWHV WKH SV\FKRORJLFDO IDFW WKDW WKH TXHVW IRU LQGLYLGXDWLRQ LV XVXDOO\ WKH UHVXOW RI D VSRQWDQHRXV SURPSWLQJ IURP WKH XQFRQVFLRXVA 6R PXFK PRUH SURILWDEOH DQG JUDWLRXV LV GRFULQH E\ HQVDPSOH WKHQ E\ UXOH 6R KDXH ODERXUHG WR GRH LQ WKH SHUVRQ RI $UWKXUH ZKRPH FRQVFLXH DIWHU KLV

PAGE 113

ORQJ HGXFDWLRQ E\ 7LPQ WR ZKRP KH ZDV E\ 0HUOLQ GH OLXHUHG WR EH EURXJKW YS VR VRRQH DV KH ZDV ERUQH RI WKH /DG\ ,JUD\QH WR KDXH VHHQH LQ D GUHDP RU YLVLRQ WKH )DHU\ 4XHHQ ZLWK ZKRVH H[FHOOHQW EHDXW\ UDXLVKHG KH DZDNLQJ UHVROXHG WR VHHNH KHU RXW DQG VR EHLQJ E\ 0HUOLQ DUPHG DQG E\ 7LPQ WKURXJKO\ LQVWUXFWHG KH ZHQW WR VHHNH KHU IRUWK LQ )DHU\H ODQG 7KH TXHVW FDQQRW EHJLQ XQWLO WKH XQFRQVFLRXV LV H[SHULHQFHG DV D SV\FKRORJLFDO UHDOLW\ LQ WKLV LQVWDQFH $UWKXUnV GUHDP YLVLRQ KDV LQIOXHQFHG KLV ZDNLQJ H[LVWHQFH WR WKH H[n WHQW WKDW KH KDV GHWHUPLQHG WR H[SORUH WKH XQFRQVFLRXV IXUn WKHU 6LQFH $UWKXU UHSUHVHQWV WKH SHUIHFWLRQ RI DOO WKH PRUDO YLUWXHV 7KH )DHULH 4XHHQH UHSUHVHQWV WKH IRXUWK DQG KLJKHVW VWDJH RI WKH $QLPD 7KLV VSHDNV ZHOO IRU KLVn ORQJ HGXFDWLRQ E\ 7LPQ IRU WKH DUFKHW\SH ZKLFK KH KDV H[SHULn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nV TXHVW IRU WKH )DHU\ 4XHHQ LV WKDW WKH FORZQLVKH \RXQJH PDQ ZKR EHFRPHV

PAGE 114

WKH .QLJKW RI WKH 5HGFURVVH LV LQ SRWHQWLD ZKDW $UWKXU LV WKRXJK LQGHHG XQWLO KH H[SDQGV KLV OHYHO RI FRQVFLRXVQHVV DQG JDLQV XQGHUVWDQGLQJ KLV UHODWLRQVKLS WR WKH $QLPD ZLOO EH UDGLFDOO\ GLIIHUHQW IURP $UWKXUn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f ZKLFK GXULQJ WKDW IHDVW VKH PLJKW QRW UHIXVH ZKLFK ZDV WKDW KHH PLJKW KDXH WKH DWFKLHXHPHQW RI DQ\ DGXHQWXUH ZKLFK GXULQJ WKDW IHDVWH VKRXOG KDSSHQ WKDW EHLQJ JUDXQWHG KH UHVWHG KLP RQ WKH IORRUH YQILWWH WKURXJK KLV UXVWLFLW\ IRU D EHWWHU SODFH 6RRQH DIWHU HQWUHG D IDLUH /DG\H LQ PRXUQLQJ ZHHGHV ULGLQJ RQ D ZKLWH $VVH ZLWK D GZDUIH EHKLQG KHU OHDGLQJ D ZDUOLNH VWHHG WKDW ERUH WKH $UPHV RI D NQLJKW DQG KLV VSHDUH LQ WKH GZDUIHV KDQG 6KHH IDOOLQJ EHIRUH WKH 4XHHQH RI )DHULHV FRPSOD\QHG WKDW KHU IDWKHU DQG PRWKHU DQ DQFLHQW .LQJ DQG 4XHHQH KDG EHQH E\ DQ KXJH GUDJRQ PDQ\ \HDUV VKXW YS LQ D EUDVHQ &DVWOH ZKR WKHQFH VXIIUHG WKHP QRW WR \VVHZ DQG WKHUHIRUH EHVRXJKW WKH )DHU\ 4XHHQH WR DVV\JQH KHU VRPH RQH RI KHU NQLJKWV WR WDNH RQ KLP WKDW H[SOR\W 3UHVHQWO\ WKDW FORZQLVK SHUVRQ YSVWDUWLQJ GHVLUHG WKDW DGXHQWXUH ZKHUHDW WKH 4XHHQH PXFK ZRQGHULQJ DQG WKH /DG\ PXFK JDLQHVD\LQJ \HW KH HDUQHVWO\ LPSRUWXQHG KLV GHVLUH ,Q WKH HQG WKH /DG\ WROG KLP WKDW YQOHVVH WKDW DUPRXU ZKLFK VKH EURXJKW ZRXOG VHUXH KLP WKDW LV WKH DUPRXU RI D &KULVWLDQ PDQ VSHFLILHG E\ 6DLQW 3DXO Y (SKHVf WKDW KH FRXOG QRW VXFFHHG LQ WKDW HQWHUSULVH ZKLFK EHLQJ IRUWKZLWK SXW YSRQ KLP ZLWK GHZH IXUQLWXUHV WKHUXQWR KH VHHPHG WKH JRRGOLHVW PDQ LQ DO WKDW FRPSDQ\ DQG ZDV ZHOO OLNHG RI WKH /DG\ $QG HIWHVRRQHV WDNLQJ RQ KLP NQLJKWKRRG DQG PRXQWLQJ RQ WKDW VWUDXQJH &RXUVHU KH ZHQW IRUWK ZLWK KHU RQ WKDW DGXHQWXUH ZKHUH EHJLQQHWK WKH ILUVW ERRN

PAGE 115

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fLGHQn WLFDO ZLWK WKH DOFKHPLVWnV FKDRV RU SULPD PDWHULD RI ZDUn ULQJ HOHPHQWV DV WKH QHZ $GDP KH LV WKH 6DLQW *HRUJH RI (QJODQG DQG UHSUHVHQWV WKH FRQIOLFWLQJ HOHPHQWV UHFRQFLOHG LQWR WKH 2QH ZKLFK LV WKH ILOLXV SKLORVRSKRUXP $V LV UHn SHDWHGO\ HPSKDVL]HG WKH DGHSW PXVW DSSURDFK WKH WDVN ZLWK D VWURQJ ZLOO IRU WR XQGHUWDNH WKH RSXV DOFK\PLFXP LV WR VXEn PLW WKH SV\FKH WR D SHULORXV DQG YLROHQW FRQIURQWDWLRQ RI RSSRVLWHV ,Q WKH FDVH RI WKH FORZQLVKH \RXQJH PDQ WKH ZLOO KDV EHHQ VXIILFLHQWO\ VWURQJ WR FDOO IRUWK WKH PHDQV DQG VR DW RQFH 8QD DSSHDUV DQG WKH RSXV LV XQGHU ZD\ 8QDnV DGYLFHWKDW 5HGFURVVH FDQ VXFFHHG RQO\ LI KH ZHDUV WKH DUPRXU RI D &KULVWLDQ PDQ VSHFLILHG E\ 6DLQW 3DXOf§LV YHU\ DSW LQGHHG 7KH DSSURSULDWH YHUVHV IURP (SKHVLDQV DUH DQ DFFXUDWH GHVFULSWLRQ RI ZKDW OLHV DKHDG 3XW RQ WKH ZKROH DUPRXU RI *RG WKDW \H PD\ EH DEOH WR VWDQG DJDLQVW WKH ZLOHV RI WKH GHYLO

PAGE 116

)RU ZH ZUHVWOH QRW DJDLQVW IOHVK DQG EORRG EXW DJDLQVW SULQFLSDOLWLHV DJDLQVW SRZHUV DJDLQVW WKH UXOHUV RI WKH GDUNQHVV RI WKH ZRUOG DJDLQVW VSLULWXDO ZLFNHGQHVV LQ KLJK SODFHV :KHUHIRUH WDNH XQWR \RX WKH ZKROH DUPRXU RI *RG WKDW \H PD\ EH DEOH WR ZLWKVWDQG LQ WKH HYLO GD\ DQG KDYLQJ GRQH DOO WR VWDQG (SKHV f /LNH WKH DOFKHPLVWnV JRDO RI WUDQVPXWLQJ EDVH PHWDO LQWR JROG 6SHQVHUnV )DLU\ODQG LV PHDQLQJOHVV LI WDNHQ OLWHUDOn O\ 7KH JUHDW OLJKW WR WKH 5HDGHU ZKLFK LV FRQWDLQHG LQ 6SHQVHUnV OHWWHU WR 5DOHLJK VHHPV WR EH WKDW ZH PXVW WDNH 6DLQW 3DXOnV DGYLFH DQG DSSO\ LW WR 7KH )DHULH 4XHHQH WKH FKDUDFWHUV LQ WKH SRHP DUH QRW WR EH WUHDWHG DV WKRXJK WKH\ ZHUH IOHVK DQG EORRG EXW DV SULQFLSDOLWLHV DQG SRZHUV ZLWKLQ D VLQJOH SV\FKH :LWK WKLV LQ PLQG OHW XV QRZ H[n DPLQH WKH DOOHJRULFDO VWUXFWXUH RI %RRN &$172 6XPPDU\ 5LGLQJ DFURVV WKH SODLQ 5HGFURVVH DQG 8QD IROORZHG DW D GLVWDQFH E\ WKH 'ZDUI DUH FDXJKW LQ D ILHUFH VWRUP 7KH\ WDNH UHIXJH LQ :DQGULQJ :RRG ZKHUH WKH\ VRRQ FRPH WR (UURXUV 'HQ ZKLFK LV GHIHQGHG E\ D WHUULEOH GUDJRQ :LWK 8QD DW KLV VLGH 5HGFURVVH RYHUFRPHV WKH GUDJRQ DIWHU D GHVSHUDWH VWUXJJOH WKDW ODVWV XQWLO VXQVHW 7KHQ WKH\ PHHW +\SRFULVLH LQ WKH JXLVH RI WKH KHUPLW $UFKLPDJR ZKR HQn WLFHV WKHP WR VSHQG WKH QLJKW LQ KLV KHUPLWDJH :KLOH WKH\ DUH VOHHSLQJ $UFKLPDJR FRQVXOWLQJ KLV PDJLF ERRNV FRQMXUHV XS D OHJLRQ RI VSULWHV 2QH RI WKH VSULWHV LV WKHQ

PAGE 117

VHQW WR WKH JRG 0RUSKHXV LQ +HOO WR IHWFK D GUHDP ZLWK ZKLFK $UFKLPDJR DURXVHV 5HGFURVVHnV OXVW WKHUHE\ FDXVLQJ WKH \RXQJ NQLJKW WR GRXEW 8QDnV YLUWXH $QDO\VLV DQG &RPPHQWDU\ $ *HQWOH .QLJKW ZDV SULFNLQJ RQ WKH SODLQH < FODGG LQ PLJKWLH DUPHV DQG VLOXHU VKLHOG :KHUHLQ ROG GLQWV RI GHHSH ZRXQGV GLG UHPDLQH 7KH FUXHOO PDUNHV RI PDQ\n D EORXG\ ILHOG
PAGE 118

7KH DOFKHPLVWV IHOW WKDW WKRXJK &KULVW LQ KLV PLQLVWU\ KDG VKRZQ WKH ZD\ HDFK ZKR ZRXOG IROORZ &KULVW KDG WR SDUWLFLSDWH DFWLYHO\ LQ WKH SURFHVV RI KLV RZQ VDOYDWLRQA2 RXW RI KLV RZQ LQWHUQDO UHVRXUFHV WKH DGHSW PXVW VXPPRQ XS ZKDW 0HLVWHU (FNKDUW FDOOHG WKH &KULVW ZLWKLQ RQHVHOI DQG VHUYH DV KLV RZQ UHGHHPHU 7KH DOFKHPLFDO SURFHGXUH ZDV WKH PHDQV ZKHUHE\ ZLWK WKH JUDFH RI *RG DQG FRQVWDQWO\ PLQGIXO RI WKH VXIIHULQJV ZKLFK &KULVW KDG KDG WR HQGXUH WKLV JRDO PLJKW EH DFKLHYHG 5HGFURVVH DV WKH PDVFXOLQH FRPSRQHQW RI WKH FRQLXQFWLR LV WKH DOFKHPLFDO 6RO RIWHQ b WHUPHG WKH 5HG 0DQ RU WKH 5HG .LQJ 7KH PHWDO DVVRFLDWHG ZLWK 6RO LV JROG EXW LQ WKH HDUO\ VWDJHV RI WKH RSXV WKH FRUUXSWLQJ LQIOXHQFHV RI WKH DUFDQH HOHPHQW VXOSKXU KDYH FDXVHG WKH JROG WR GHWHULRUDWH VRPHWLPHV EH\RQG UHFRJQLn WLRQ 7KH PHWDO DVVRFLDWHG ZLWK 6ROnV IHPLQLQH FRXQWHU SDUW /XQD LV VLOYHU ZKLFK KDV LWV ZKLWHQHVV IURP WKH IDFW WKDW DFFRUGLQJ WR DOFKHPLFDO WKLQNLQJ LW LV DQ DPDOJDP RI WKH VHYHQ PHWDOV 6RO DQG /XQD DUH UHJDUGHG DV ERWK EURWKHU DQG VLVWHU DQG \HW VRQ DQG PRWKHU 7KLV SDUDGR[ DULVHV IURP WKH IDFW WKDW SV\FKRORJLFDOO\ 6RO UHSUHVHQWV WKH FRQVFLRXV PLQG DQG /XQD WKH XQFRQVFLRXV DQG WKLV LV RIWHQ FRQFHLYHG RI DV D EURWKHU DQG VLVWHU UHODWLRQVKLS 6LQFH FRQVFLRXVQHVV ZDV ERUQ RXW RI WKH PDWUL[ RI WKH XQn FRQVFLRXV LH WKH XQFRQVFLRXV JDYH ELUWK WR WKH FRQn VFLRXV WKH UHODWLRQVKLS FDQ DOVR EH UHJDUGHG DV WKDW RI VRQ DQG PRWKHU 7KLV LV WKH FRQFHSW RI WKH 2QH ZKLFK LPSOLHV WKDW HYHU\ SDUW FRQWDLQV DOO WKH HOHPHQWV RI WKH

PAGE 119

ZKROH 5HGFURVVHnV VKLHOG LOOXVWUDWHV WKLV SULQFLSOH 7KH VLOYHU VKLHOG LV SDUW RI WKH DUPRXU RI *RG VSHFLILFDOO\ WKH VKLHOG UHSUHVHQWV IDLWK LW LV VLOYHU EHFDXVH /XQD V\Pn EROL]HV WKH &KXUFK DFFRUGLQJ WR WKH /XQD(FFOHVLD DOOHn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f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n WHU WKH *RG RI :UDWK DQG LQGHHG DV -XQJ KDV REVHUYHG LQ $QVZHU WR -RE LI ZH GR QRW WDNH LQWR FRQVLGHUDWLRQ *RGnV GDUN VLGH WKH VWLSXODWLRQ LQ WKH /RUGnV 3UD\HU WR /HDG XV

PAGE 120

QRW LQWR 7HPSWDWLRQ EHFRPHV D KRSHOHVV SDUDGR[ 7KH DOFKHPLVW EHIRUH KH FDQ KRSH WR VHH WKH OLJKW PXVW ILUVW EH ZLOOLQJ WR SDVV WKURXJK WKH YDOOH\ RI WKH VKDGRZ KH PXVW EH DEOH WR IDFH WKH YLFLVVLWXGHV RI WKH RSXV ZLWK WKH IDLWK RI -RE ,QGHHG -RE SURYLGHV D YHU\ JRRG DQDORJ\ VLQFH DFFRUGLQJ WR WKH WKHVLV RI $QVZHU WR -RE -REnV DELOLW\ WR VWDQG XS WR WKH ZUDWK RI WKH GDUN VLGH RI *RG LH 6DWDQf§ZDV ZKDW PDGH WKH ,QFDUQDWLRQ QHFHVVDU\ LQ RUGHU WR DFKLHYH FRQVFLRXVQHVV VXSHULRU WR -REnV *RG ZKR KDG IDLOHG WR WDNH DGYDQWDJH RI +LV RPQLVFHQFH KDG WR EH r UHERUQ DV &KULVW ZKLFK WKHQ SXW LQWR HIIHFW WKH GLYLQH SODQ IRU PDQnV VDOYDWLRQ ZKDW ZHQW RQ LQ WKH KHUPHWLF YHVVHO ZDV D V\PEROLF UHHQDFWPHQW RI WKLV GUDPD WUDQVIHUUHG WR WKH PLQG RI WKH DGHSW 7KH RSXV EHJLQV DQG HQGV ZLWK WKH PHUFXULDO GUDJRQ WKH FRQIURQWDWLRQ ZLWK WKH ZLQJOHVV GUDJRQ DQG WKHQ ILQDOO\ ZLWK WKH ZLQJHG GUDJRQ LV WKH DOSKD DQG RPHJD RI WKH SURFHVV LW LV WKH XURERURV WKH WDLOHDWHU V\PEROL]LQJ WKH UHVROXWLRQ EDFN LQWR WKH RULn JLQDO RQH $ ORXHO\ /DGLH URGH KLP IDLUH EHVLGH 9SRQ D ORZO\ $VVH PRUH ZKLWH WKHQ VQRZ
PAGE 121

ZKR LQ SV\FKRORJLFDO WHUPV SHUVRQLILHV WKH XQFRQVFLRXV LV LQ IDFW D ZLGRZ E\ YLUWXH RI WKH )DOO IRU WKH PDUULDJH EHWZHHQ WKH FRQVFLRXV DQG XQFRQVFLRXV ZDV GHVWUR\HG IROn ORZLQJ WKH GLYLVLRQ RI WKH RULJLQDO KHUPDSKURGLWLF PDQ LQWR WKH PDVFXOLQH $GDP DQG WKH IHPLQLQH (YH /XQD WKHUHIRUH PXVW UHPDLQ D ZLGRZ XQWLO WKH P\VWHULXP FRQLXQFWLRQLV UH ‘ ‘ f§ ‘ ‘ ‘ VWRUHV WKH SV\FKH WR LV SULVWLQH VWDWH DIWHU 5HGFURVVH DV WKH QHZO\ WUDQVIRUPHG 6DLQW *HRUJH KDV GHIHDWHG WKH ZLQJHG PHUFXULDO GUDJRQ DQG WKXV VXFFHVVIXOO\ FRQFOXGHG WKH RSXV 8QDnV ZLGRZKRRG ZLOO KDYH FRPH WR DQ HQG DQG VKH ZLOO WKHQ OD\ DVLGH KHU ZLGRZOLNH VDG ZLPSOH ;,,[[LLf 7KHUH LV KRZHYHU D IXUWKHU OHYHO WR WKH V\PEROLVP RI WKLV SDVVn DJH 7KH DOFKHPLFDO /XQD FRPSUL]HV QRW RQO\ 8QD EXW 'XHVVD DV ZHOO IRU WKH PRRQ KDV ERWK D OLJKW DQG D GDUN VLGH %ODFN DQG ZKLWH DUH WZR RI WKH DOFKHPLFDO FRORUV -XVW DV ZLWK WKH FKHPLFDO FKDQJHV RFFXUULQJ LQ WKH DOFKHPLFDO UHn WRUW WKH LQLWLDO EODFN ZLOO XOWLPDWHO\ EH WUDQVIRUPHG LQWR ZKLWH 8QDnV EODFN YHLO FDQQRW EH VWULSSHG RII WR UHYHDO WKH ZKLWH ZKLFK LW VKRXOG EH SRLQWHG RXW ZDV WKHUH DOO DORQJf XQWLO 5HGFURVVHnV VSLULWXDO GHYHORSPHQW KDV XQGHUJRQH D FRUUHVSRQGLQJ FKDQJH DQG KH LV WKHQ DEOH WR UHFRJQL]H :LVGRP ZKHQ KH VHHV KHU 3V\FKLF FRPSRQHQWV DUH QRW GHVWUR\HG EXW PHUHO\ UHDUUDQJHG WKH PRRQ ZLOO FRQWLQXH WR KDYH ERWK D GDUN DQG D OLJKW VLGH WKRXJK DGPLWWHGO\ LQ WKH QHZ V\QWKHVLV WKH GDUN ZLOO KDYH ORVW LWV SRZHU WR FRPSHO 7KLV LV V\PEROL]HG DV ZH VKDOO VHH LQ GHWDLO ODWHU E\ WKH IDFW WKDW QR VRRQHU KDV 5HGFURVVH VHHQ 8QD LQ DOO RI KHU OD]LQJ EULJKWQHVV ,,

PAGE 122

,OO WKDQ D PHVVHQJHU IURP 'XHVVD DSSHDUV ZLWK D OHWWHU UHPLQGLQJ KLP WKDW KH KDV DOVR SOLJKWHG KLV ULJKW KDQG WR KHU ;,,[[YLf 6R SXUH DQ LQQRFHQW DV WKDW VDPH ODPEH 6KH ZDV LQ OLIH DQG HYHU\ YHUWXRXV ORUH $QG E\ GHVFHQW IURP 5R\DOO O\QDJH FDPH 2I DQFLHQW .LQJV DQG 4XHHQHV WKDW KDG RI \RUH 7KHLU VFHSWHUV VWUHWFKW IURP (DVW WR :HVWHUQH VKRUH $QG DOO WKH ZRUOG LQ WKHLU VXELHFWLRQ KHOG 7LOO WKDW LQIHUQDOO IHHQG ZLWK IFXOH YSURUH )RUZDVWHG DOO WKHLU ODQG DQG WKHP H[SHOG :KRP WR DXHQJH VKH KDG WKLV .QLJKW IURP IDU FRPSHOG Yf ,Q 8QDnV KDYLQJ FRPSHOG 5HGFURVVH WR DXHQJH WKH GUDJRQ ZH ILQG WKH ILUVW RI D VHULHV RI H[SUHVVLRQV RI WKH DOFKHPLFDO PRWLI RI WKH VRXO LPSULVRQHG LQ PDWWHU DQG FDOn OLQJ IRU KHOS LQ SV\FKRORJLFDO WHUPV WKH LQIHUQDO IHHQG LV HJRFRQVFLRXVQHVV ZKLFK WKRXJK D PHUH LVODQG LQ WKH VHD RI WKH XQFRQVFLRXV KDV EXLOW D ZDOO WR SURWHFW LWVHOI DQG KDYLQJ WKHUHIRUH FXW LWVHOI RII IURP WKH FUHn DWLYH DQG KHDOLQJ HIIHFW RI WKHVH ZDWHUV KDV VHSDUDWHG LWn VHOI IURP *RG &RQVFLRXVQHVV KDV EHFRPH D EDUUHQ ZDVWHODQG LQ ZKLFK WKH VSLULWXDO SRVVLELOLWLHV LQKHUHQW LQ WKH LQGLn YLGXDO KDYH EHHQ VWLIOHG E\ PDWHULDOLW\ 7KLV LV H[SUHVVHG LQ 3KLODOHWKHVn SDUDEOH FI SS II DERYHf E\ WKH GU\ HDUWK RU LQ 7KH )DHULH 4XHHQH E\ WKH SODLQH RQ ZKLFK 5HGFURVVH LV ILUVW VHHQ SULFNLQJ LH ULGLQJ %HKLQG KHU IDUUH DZD\ D 'ZDUIH GLG ODJ 7KDW ODVLH VHHPG LQ EHLQJ HXHU ODVW 2U ZHDULHG ZLWK EHDULQJ RI KHU EDJ 2I QHHGPHQWV DW KLV EDFN YLf

PAGE 123

7KH 'ZDUIH LV KLPVHOI V\PEROLF RI WKLV EDUUHQ LVODQG LQ WKH SV\FKH IRU KH VHHPV WR UHSUHVHQW WKH UDWLRQDO IDFXOW\ RI HJRFRQVFLRXVQHVV ZKLFK LV RSSRVHG WR WKH XQFRQVFLRXV ZLWK LWV ZKROO\ GLIIHUHQW PRGH RI ORJLF FKDUDFWHUL]HG E\ D VSHFLHV RI VXSUDUDWLRQDOLW\ LQH[SOLFDEOH WR FRQVFLRXVn QHVV 7KXV WKH 'ZDUIH FDQQRW NHHS SDFH ZLWK 8QD ,Q IDFW WKH QHHGPHQWV ZKLFK KH EHDUV RQ KLV EDFN DUH DV ZH VKDOO VHH ODWHU PRUH 5HGFURVVHnV WKDQ KHUV IRU WKH RQH ZKRP WKH 'ZDUIH UHDOO\ VHUYHV LV DV LV WKH FDVH H[SOLFLWO\ LQ VHYHUDO RI 6SHQVHUnV DQDORJXHV 5HGFURVVH 7KH 'ZDUIH ZLWK KLV OLPLWDWLRQV DQG ODFN RI HQHUJ\ VWDQGV LQ VKDUS FRQWUDVW WR WKH FRPSOH[ UHSUHVHQWHG E\ 8QD WKH ORZO\ $VVH PRUH ZKLWH WKHQ VQRZ RQ ZKLFK VKH ULGHV DQG WKH PLON ZKLWH ODPEH ZKLFK VKH OHDGV RQ D OLQH 8QD WKH DVV DQG WKH ODPE DOO DUH FRQFHUQHG ZLWK ZLVGRP 8QD DV ZH KDYH VHHQ PD\ EH UHJDUGHG DV WKH SHUVRQLILFDWLRQ RI ZLVGRP WKH DVV DV ZH NQRZ IURP $SXOHLXVn *ROGHQ $VV LV DVVRFLDWHG ZLWK WKH TXHVW IRU ZLVGRP DQG WKH ODPE DV &KULVW SV\FKRORJLFDOO\ WKH DUFKHW\SH RI WKH 6HOI ZKLFK LV WKH JRDO RI WKH SURFHVV RI LQGLYLGXDWLRQ UHSUHVHQWV WKH DWWDLQPHQW RI ZLVGRP IRU DV WKH :RUG PDGH IOHVK +H LV SHUIHFW +ROLQHVV 7KXV 5HGFURVVH DQG WKH 'ZDUIH DQG 8QD DQG KHU DQLPDOV UHSUHVHQW WKH EHJLQQLQJ DQG HQG RI WKH SURFHVV 7KXV DV WKH\ SDVW 7KH GD\ ZLWK FORXGHV ZDV VXGGHLQH RXHUFDVW $QG DQJU\ ,RXH DQ KLGHRXV VWRUPH RI UDLQH 'LG SRXUH LQWR KLV /HPDQV ODS VR IDVW

PAGE 124

7KDW HXHU\ ZLJKW WR VKURZG LW GLG FRQVWUDLQ $QG WKLV IDLUH FRXSOH HNH WR VKURXG WKHPVHOXHV ZHUH IDLQ YLf $ IXUWKHU LOOXVWUDWLRQ RI WKH DOFKHPLFDO LGHD WKDW WKH HQG RI D SURFHVV LV LPSOLFLW IURP WKH EHJLQQLQJ LV WKLV LPDJH RI WKH VH[XDO XQLRQ RI -RYH DQG KLV /HPDQ 7KLV SDUDOn OHOV DQG IRUHVKDGRZV WKH P\VWHULXP FRQLXQFWLRQLV RI 6RO DQG /XQD ZKLFK WKH DOFKHPLVWV UHJDUGHG DV D KLHURVJDPRV EHn WZHHQ KHDYHQ DQG HDUWK 7KXV LQ WKH 5RVDULXP 3KLORVRSKRUXP LW LV VDLG WKDW WKH HDUWK LV FRXQWHG IRU WKH PRRQ DQG b WKH ZDWHU IRU WKH VXQ 6LQFH IURP D PRGHUQ PHWHRURORJLn FDO VWDQGSRLQW D UDLQVWRUP LV WKH UHVXOW RI D FRQIURQWDWLRQ EHWZHHQ RSSRVLQJ IURQWV -RYHnV KLGHRXV VWRUPH RI UDLQH LV D ILWWLQJ SUHOXGH WR 5HGFURVVHnV ILUVW HQFRXQWHU ZLWK WKH IXU\ RI RSSRVLWH IRUFHVKLV LPPLQHQW EDWWOH ZLWK WKH FKWKRQLF GUDJRQ ,W LV LPSRUWDQW WR SRLQW RXW KRZHYHU r WKDW WKH VWRUP LV QRW IRUWXLWRXV EXW UHVXOWV IURP DSn SO\LQJ MXVW WKH FRUUHFW DPRXQW RI KHDW WR WKH FRPSRQHQWV LQ WKH UHWRUW ,Q KHU GLVFXVVLRQ RI WKH QHFHVVLW\ RI DGGLQJ EODFN WR WKH ZKLWH ZH DUH UHPLQGHG RI 8QDnV DWWLUHf 0DULD 3URSKHWLVVD LQ KHU 3UDFWLFD REVHUYHV WKDW WKH FRPSRQHQWV DUH WR PHOW LQ WKH YHVVHO RI SKLORVRSK\ RU ZLVGRP ZKLFK FDQ EH DFKLHYHG E\ XVLQJ WKH DPRXQW RI ZDUPWK RI WKH VXQ LQ WKH PRQWKV RI -XQH DQG -XO\ 7KLV FRQGLWLRQ LV IXOn ILOOHG IRU WKH VKDGLH JUFXH ZKHUH 5HGFURVVH DQG 8QD WDNH FRYHU IURP WKH VWRUP LV \FODG ZLWK VRPPHUV SULGH YLL f

PAGE 125

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f -XQJ LQ 7KH 6SLULW 0HUFXULXV GLVFXVVHV WKH SV\FKRORJLFDO LPSOLFDWLRQV RI IRUHVWV DQG WUHHV DQG KRZ WKH\ UHODWH WR DOFKHP\ WKXV 7KH IRUHVW GDUN DQG LPSHQHWUDEOH WR WKH H\H ZDWHU DQG WKH VHD LV WKH FRQWDLQHU RI OLNH WKH XQn NQRZQ DQG WKH P\VWHULRXV ,W LV DQ Q\P IRU WKH XQFRQVFLRXV OLYLQJ HOHPHQWV WKDW PDNH HVSHFLDOO\ FRQVSLFXRXV OLNH ILVKHV LQ WKH ZDWHU UHSUHVHQW $PRQJ WKH PDQ\ WKH IRUHVWf§RQH DSSURSULDWH V\QR WKH XS LWV 7UHHV JUHDW VL]H WKH OLYLQJ FRQn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

PAGE 126

ORUXP LW LV WKH RSLQLRQ RI WKH 3KLORVRSKHUV WKDW WKHLU VWRQH LV YHJHWDEOH DQLPDO DQG PLQHUDO LQ RQH DQG WKH VDPH IRUP 7KXV LW EHFRPHV FOHDU WKDW WKH 2YLGLDQ FDWDORJXH RI WUHHV LV QRW DV VRPH FRPPHQWDWRUV KDYH VXUn PLVHG IRU WKH SXUSRVH RI SURYLGLQJ DWPRVSKHUH EXW VHUYHV DV D V\PEROLF VWDWHPHQW UHIOHFWLQJ WKH GHJUHH RI 5HGFURVVHnV XQFRQVFLRXVQHVV ,Q -RGRFXV *UHYHUXVn 6H FUHWXP QRELOLVVLPXP HW YHULVVLPXP 9HQHUDELOLV 9LUL 'RPLQL ZH OHDUQ WKDW WKH WULDG RI VXQ PRRQ DQG 0HUFXULXV ZDV WKH VWDUWLQJ SRLQW WKH LQLWLDO PDWHULDO DV LW ZHUH LQ VR IDU DV LW VLJQLILHG WKH VHHG RI WKH WUHH DQG WKH HDUWK LQ ZKLFK LW ZDV VRZQ &HUWDLQO\ WKHVH FRQGLWLRQV DUH IXOILOOHG ZH KDYH 5HGFURVVH 6XQf 8QD 0RRQf DQG WKH VKDGLH JURXH 0HUFXULXVf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

PAGE 127

$QG OLNH WR OHDG WKH ODE\ULQWK DERXW :KLFK ZKHQ E\ WUDFW WKH\ KXQWHG KDG WKURXJKRXW $W OHQJWK LW EURXJKW WKHP WR D KROORZ FDXH $PLG WKH WKLNHVW ZRRGV [[Lf 7KLV VFHQHU\ LV VLPLODU WR WKDW IRXQG LQ DQ DOFKHPLFDO GUHDP YLVLRQ HQWLWOHG %ORRPILHOGV %ORVVRPV RU 7KH &DPSH RI 3KLORVRSK\ 7KH GUHDPHU LV OHG WR D *DWH IDVWQHG ZLWK ORFNV WZHOYH f )DWKHU 7\PH JLYHV KLP WKH .H\ RI NQRZOHGJH DQG RI ([FHOOHQW 6FLHQFH f ZKLFK DOORZV KLP WR RSHQ WKH YDULRXV ORFNV WKH ILUVW RQH IRU H[DPSOH LV &KDRV LQ WKH ERG\HV FDOOHG WKH ILUVW 2ULJLQDOO 3ULPD PDWHULD RXU 0HUFXU\ RXU 0HQVWUXDOO 2XU 9LWULROO RXU 6XOSKXU RXU /XQDU\ PRVW RI SULFH f f 7KH GUHDPHU LV WKHQ LQWURGXFHG WR WKH DOFKHPLFDO SKLORVRSKHUV +HUPHV $ULVWRWOH 0RULHQ 6HQLRU 'HPRFULWXV $OEHUW %DFRQ 5D\PXQG WKH 0RQNH DQG WKH &KDQRQ RI %ULGOLQJWRQ ZKR DUH ZRUNLQJ PRVW VHFUHWO\ f /LNH 5HGFURVVH WKH GUHDPHU LV FRQIURQWHG E\ D ODE\ULQWK RI IRRWSDWKV 7KHQFH )DWKHU 7\PH EURXJKW PH LQWR D :LOGHUQHVV ,QWR D 7KLFNHW KDYLQJ E\SDWKV PDQ\ RQH 6WHSV DQG IRRWHLQJV VDZ WKHUH PRUH DQG OHVVH :KHUHLQ WKH DIRUHVDLG PHQ KDG ZDQGUHG DQG JRQH f +H SDVVHV WKURXJK D :RRG FKDUDFWHUL]HG DV LQ 7KH )DHULH 4XHHQH E\ WKH SUHVHQFH RI VLQJLQJ ELUGV )URP WKHQFH IRUWK ZHQW 7\PH EHLQJ P\ JXLGHf 7KURXJK D JUHHQH :RRG ZKHUH %LUGV VLQJ FOHHUHO\ f &RUUHVSRQGLQJ WR 6SHQVHUnV EXLOGHU 2DNH VROH NLQJ RI IRUHVWV DOO SKLORVRSKLFDO WUHH LV WKH

PAGE 128

$PRQJ WKH IDLUH 7UHHV RQH 7UHH LQ VSHFLDOO 0RVW YHUQDQW DQG SOHDVDQW DSSHDUHG WR P\ VLJKW $ QDPH LQVFULEHG 7KH 7UHH 3KLORVRSKLFDO :KLFK WR EHKROG KDG JUHDWH GHOLJKW 7KHQ WR 3KLORVRSK\ P\ WURWK GLG SOLJKW +HU 0DMHVW\ WR VHUYH DQG WR WDNH JUHDWH SDLQH 7KH IUXLWV RI WKDW 7UHH ZLWK 5D\PXQG WR DWWDLQH f 5HGFURVVH LV DW WKH OHYHO RI %ORRPILHOGnV ILUVW ORFN $V $QJXV )OHWFKHU KDV SRLQWHG RXW 7KH )DHULH 4XHHQH FDQ EH DSSURDFKHG LQ WHUPV RI WKH DUFKHW\SHV RI WKH /DE\ULQWK DQG WKH 7HPSOH $W WKLV OHYHO WKH 7HPSOH LV DV WKH )UHXn GLDQV ZRXOG VD\ WKH KROORZ FDXH $PLG WKH WKLNHVW ZRRGV $V 5HGFURVVH LV OHG WKURXJK WKH ODE\ULQWK RI WKH XQFRQn VFLRXV KLV ODFN RI FRQVFLRXVQHVV PDNHV LW LPSRVVLEOH IRU KLP WR VHH 8QD WKH JURYH DQG WKH GUDJRQ DV RWKHU WKDQ VHSDUDWH XQUHODWHG HQWLWLHV %H ZHOO DZDUH TXRWK WKHQ WKDW /DGLH PLOGH /HDVW VXGGDLQH PLVFKLHIH \H WRR UDVK SURXRNH 7KH GDQJHU KLG WKH SODFH YQNQRZQH DQG ZLOGH %UHHGHV GUHDGIXOO GRXEWV 2IW ILUH LV ZLWKRXW VPRNH $QG SHULOO ZLWKRXW VKRZ WKHUHIRUH \RXU VWURNH 6LU NQLJKW ZLWKKROG WLOO IXUWKHU WULDOO PDGH $K /DGLH VDLG KHf VKDPH ZHUH WR UHXRNH 7KH IRUZDUG IRRWLQJ IRU DQ KLGGHQ VKDGH 9HUWXH JLXHV KHU VHOIH OLJKW WKURXJK GDUNHQHVVH IRU WR ZDGH
PAGE 129

$ IRU FRQVFLRXVQHVV LV WKH DELOLW\ WR OLIW DQ REMHFW RXW RI WKH QDWXUDO ZHE RI UHODWHGQHVV RU *HVWDOW DQG REVHUYH LW LQ LVRODWLRQ 7KLV LV FOHDUO\ DQ DUWLILFLDO FRQVWUXFW LW LV KRZHYHU WKH PHDQV E\ ZKLFK GLVWLQFWLRQV DUH PDGH ,Q WKH DEVHQFH RI ZLVGRPf§ZKLFK LQYROY WKH DELOLW\ WR WKLQN RQ PDQ\ OHYHOV VLPXOWDQHRXVO\ WKH UHVXOW LV WKH KRSHOHVVO\ VLPSOLVWLF WKLQNLQJ ZKLFK VR RIWHQ FKDUDFWHUL]HV WKH SXUHO\ QDWXUDO PDQ )RU WKLV UHDn VRQ 5HGFURVVH LV LQFDSDEOH RI DSSUHFLDWLQJ 8QDnV ZDUQLQJ DV KLV VLPSOHPLQGHG FRQILGHQFH WKDW 9HUWXH JLXHV KHU VHOIH OLJKW LQGLFDWHV +H KDV WR OHDUQ WKDW WKH XQn FRQVFLRXV LV QRW PHUHO\ DQ H[WHQVLRQ RI HJRFRQVFLRXVQHVV DQG WKDW DV 8QD ZKR SHUVRQLILHV WKH XQFRQVFLRXV DW ILUVW NQRZV RQO\ WRR ZHOO WKH XQFRQVFLRXV RSHUDWHV DFFRUGLQJ WR LWV RZQ UXOHV 7R 5HGFURVVH 8QD LV WKH HSLWRPH RI KROLn QHVV DQG YLUWXH DV LQGHHG VKH LVf EXW ZKDW KH ZLOO VRRQ OHDUQ WR KLV LV WKDW 8QD LV RQO\ D SDUW RI ZKDW WKH DOFKHPLFDO /XQD UHSUHVHQWV DQG LI KH IROORZV 8QD IRU ORQJ VKH ZLOO VKLIW LQWR 'XHVVD ,Q RWKHU ZRUGV LW LV SRVVLEOH WR VHH 'XHVVD DV WKH PRUDO HTXLYDOHQW RI WKH /RDWKO\ /DG\ ZKR FDQ EH WUDQVIRUPHG LQWR WKH EHDXWLIXO 3ULQFHVV 8QDf RQO\ LI WKH KHUR FDQ RYHUFRPH KLV PRUDO UHSXJQDQFH DQG HPEUDFH KHU 7KXV ZKDW 'RXJODV :DWHUV ZKR H[SUHVVHV VKRFN DQG GLVPD\ DW 5HGFURVVHnV VSLULWXDO IRUQLFDWLRQ ZLWK 'XHVVD GRHV QRW UHDOL]H LV WKDW DFFRUGLQJ WR DOn FKHPLFDO WKLQNLQJ WKLV IRUQLFDWLRQ LV HVVHQWLDO WR 5HGn FURVVH nV DFKLHYHPHQW RI KROLQHVV

PAGE 130

8QD UHPLQGV 5HGFURVVH WKDW KLV IRRW LV LQ WKH JDWH $V -RVHSK &DPSEHOO KDV SRLQWHG RXW LQ 7KH +HUR ZLWK D 7KRXn VDQG )DFHV WKH GUDJRQ LV WUDGLWLRQDOO\ WKH NHHSHU RI WKH JDWH 1RZ WKLV LV DUFKHW\SDO DQG HDFK P\WK RI WKH KHUR ZLOO GHSLFW VRPH YHUVLRQ RI WKH JXDUGHG JDWHZD\ WKURXJK ZKLFK WKH DQRLQWHG RQH PXVW SDVV ,Q WKH FRQWH[W RI 7KH )DHULH 4XHHQH WKLV FUXFLDO ILUVW JDWH LV WKH SRLQW ZKHUH WKH SROHV UHYHUVH IRU WKH ILUVW WLPH DFFRUGLQJ WR WKH FRQn FHSW RI WKH VSOLW ELQDU\ ZKLFK LQYROYHV WKH 8QD 'XHVVD SRODULW\ WKH DOFKHPLFDO /XQD EHFDXVH KHU GXDOLW\ b LV DW ILUVW QRW UHFRJQL]HG LV XQVWDEOH FRQVWDQWO\ VKDSH VKLIWLQJ DQG WKHUHIRUH KLJKO\ GDQJHURXV WR WKH HJR +HQFH 5HGFURVVH LV DGYLVHG WR VWD\ WKH VWHSSH 1RW RQO\ LV WKH KHUR VXGGHQO\ IDFH WR IDFH ZLWK WKH GDUN VLGH RI WKH PRRQ LH WKH DQWLWKHVLV RI KLV PRVW FKHULVKHG YDOXHV DQG EHn OLHIVf§ZKDW -XQJ ZRXOG GHVFULEH DV WKH QHJDWLYH $QLPDAf§ EXW WKH FRQIURQWDWLRQ WDNHV SODFH ZKHUH WKH HJR GRHV QRW KDYH GRPLQLRQ WKLV UHDOP UHDOO\ LV DV WKH IHDUHIXOO 'ZDUI UDWLRQDOLW\f ZDUQV 5HGFURVVH QR SODFH IRU OLXLQJ PHQ %XW IXOO RI ILUH DQG JUHHG\ KDUGLPHQW 7KH \RXWKIXOO NQLJKW FRXOG QRW IRU RXJKW EH VWDLGH %XW IRUWK YQWR WKH GDUNVRPH KROH KH ZHQW $QG ORRNHG LQ KLV JOLVWULQJ DUPRU PDGH $ OLWOH JORRPLQJ OLJKW PXFK OLNH D VKDGH %\ ZKLFK KH VDZ WKH YJO\ PRQVWHU SODLQH +DOIH OLNH D VHUSHQW KRUULEO\ GLVSODLGH %XW WKnRWKHU KDOIH GLG ZRPDQV VKDSH UHWDLQH 0RVW ORWKVRPH ILOWKLH IRXOH DQG IXOO RI YLOH GLVGDLQH [LYf

PAGE 131

6LQFH LQ WKH HDUO\ VWDJHV RI WKH RSXV DOFK\PLFXP 6RO LV FRQVLGHUHG WR EH FRUUXSW EHFDXVH RI WKH H[FHVV RI VXOn SKXU LW LV ILWWLQJ WKDW DW WKLV PRPHQW 5HGFURVVH LV IXOO RI ILUH 7KLV LV WKH ILUVW RI WKH WZR DOFKHPLFDO GUDJRQV WKLV RQH LV ZLQJOHVV VSHZLQJ SRLVRQ EXW QRW ILUHf DQG LV V\PEROLF RI WKH FKWKRQLF IHPLQLQH DQG SK\VLFDO DVSHFWV RI WKH RSXV 6KH UHSUHVHQWV 0HUFXULXV DV WKH VSLULWXV YHJHWD WLYXV DQG LV WR EH UHJDUGHG DV D WUHH QXPHQ 7KH DO FKHPLVWV UHIHU WR WKLV GUDJRQ DV WKH 0HOXVLQD ZKR LV ZRPDQ DERYH DQG VHUSHQW EHORZ LQ WKH 5LSOH\ 6FURZOH f IRU H[DPSOH WKH 0HOXVLQD LV GHSLFWHG KDQJLQJ IURP D WUHH E\ KHU WDLO7KH GRXEOH QDWXUH RI WKLV ILJXUH LV EHKLQG WKH PXFKTXRWHG VWDWHPHQW WKDW 0DWHU $OFK\PLD LV GURSVLFDO LQ WKH ORZHU OLPEVA 7KH 0HOXVLQD LQ WKH FRQWH[W RI 7KH )DHULH 4XHHQH LV WKH ILUVW PHWDPRUSKRVLV RI 'XHVVD 7KLV EHFRPHV DSSDUHQW ODWHU ZKHQ LW LV VKRZQ WKDW 'XHVVD LV OLNHn ZLVH GURSVLFDO )UDGXELR ILUVW REVHUYHV WKDW 'XHVVDnV QHDWKHU SDUWV DUH PLVVKDSHQ PRQVWURXV ,LLf DQG ILQDOO\ ZKHQ $UWKXU VWULSV 'XHVVD TXLJKW WKH SRHWnV FKDVWHU 0XVH EOXVKHV DV LW GHVFULEHV KHU ,YLLLf 7KRXJK WKH 0HOXVLQD LV 0RVW ORWKVRUD ILOWKLH IRXOH DQG IXOO RI YLOH GLVGDLQH VKH LV DEVROXWHO\ QHFHVVDU\ WR WKH VXFFHVV RI WKH RSXV WKH DOFKHPLVWV H[SUHVV WKLV SDUDGR[ E\ VD\LQJ WKDW WKH 6WRQH LV IRXQG LQ ILOWK $QG DV VKH OD\ YSRQ WKH GXUWLH JURXQG +HU KXJH ORQJ WDLOH KHU GHQ DOO RXHUVSUHG
PAGE 132

$ WKRXVDQG \RQJ RQHV ZKLFK VKH GD\O\ IHG 6XFNLQJ \SRQ KHU SRLVRQRXV GXJV HDFKRQH 2I VXQGU\ VKDSHV \HW DOO LOO IDXRXUHG 6RRQH DV WKDW YQFRXWK OLJKW YSRQ WKHP VKRQH ,QWR KHU PRXWK WKH\ FUHSW DQG VXGGDLQ DOO ZHUH JRQH [Yf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f +XJR 5DKQHU SRLQWV RXW LQ KLV 0\VWHULXP /XQDH (LQ %HLWUDJ ]XU .LUFKHQWKHRORJLH GHU 9DWHU]HLW WKDW LW LV RQO\ WKH EULJKW VLGH RI WKH PRRQ WKDW LV LQYROYHG LQ WKH SDWULVWLF /XQD(FFOHVLD DOOHJRU\ )RU 6SHQVHUnV SXUn SRVHV LQ FRQVWUXFWLQJ D 3URWHVWDQW DOOHJRU\ WKLV YDFFXXP SURYLGHV D QLFKH IRU WKH HTXLYDOHQFH LQYROYLQJ WKH PRRQnV GDUN VLGH'XHVVD(UURXU&DWKROLF &KXUFK 2Q DQRWKHU OHYHO LW H[SODLQV ZK\ ZKHQ 5HGFURVVH HQWHUV WKH GUDJRQnV GHQ KLV JOLVWULQJ DUPRU PDGH $ OLWOH JORRPLQJ OLJKW PXFK OLNH D VKDGH 7KH OLJKW LV UHGXFHG WR D VKDGH EHFDXVH

PAGE 133

WKH &KXUFK 8QD DV WKH EULJKW VLGH RI WKH PRRQf KDV QR MXULVGLFWLRQ RYHU WKH PRRQn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f 5HGFURVVH KDV FRPH YHU\ FORVH WR VXFFXPELQJ WR WKH GUDJRQnV VWUDQJOHKROG +LV PLVWDNH LV WKDW KH KDV DWWHPSWHG WR DFKLHYH WKH YLFWRU\ RQ KLV RZQ ZLWKRXW KHOS IURP WKH SDUW RI WKH SV\FKH ZKLFK OLHV EH\RQG WKH HJR LQ RWKHU ZRUGV IRU WKH ILUVW WLPH KH LV OHDUQLQJ WKDW HJRFRQVFLRXVQHVV LV QRW HQRXJK 8QDnV DGPRQLWLRQ WR DGG IDLWK WR KLV IRUFH LV H[DFWO\ ZKDW LV QHHGHG LI KH LV WR JDLQ WKH IW HGJH RYHU KLV HQHP\ 3V\FKRORJLFDOO\ IDLWK LQYROYHV DQ DWWLWXGH RI WUXVW DQG FRQILGHQFH LQ WKH XQFRQVFLRXV 7KXV

PAGE 134

FRQVFLRXVQHVV LI ERX\HG XS E\ SHUIHFW IDLWK FDQ DSSURDFK WKHVH GDQJHURXV ZDWHUV RI WKH XQFRQVFLRXV ZLWKRXW IHDU RU DSSUHKHQVLRQ DQG WKHUHIRUH ZDON VDIHO\ DFURVV WKH VXUIDFH ,I KRZHYHU WKHUH LV HYHQ WKH VOLJKWHVW GRXEW WKH VXUIDFH ZLOO JLYH ZD\ DQG WKH LQGLYLGXDO ZLOO EH LQ YHU\ UHDO GDQn JHU RI GURZQLQJ 7KH GUDJRQ LV WKHUHIRUH WKH UHIOHFWLRQ RI 5HGFURVVHn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n GXDOO\ 5HGFURVVH ZLOO UHDOL]H WKDW VSLULWXDO SHUIHFWLRQ FDQ QRW EH DWWDLQHG XQWLO ERWK FRQVFLRXV DQG XQFRQVFLRXV ZRUN WRJHWKHU DV D WHDP 3HUIHFWLRQ DFFRUGLQJ WR WKLV LGHD LQ YROYHV WKH HQHUJL]LQJ RU GHHQHUJL]LQJ RI WKH YDULRXV SRVLn WLYH DQG QHJDWLYH DVSHFWV RI WKH SV\FKH )RU H[DPSOH WKH ILUVW VHYHQ FDQWRV RI %RRN FRQFHUQ WKH GHHQHUJL]LQJ RI QHJDWLYH DWWULEXWHV $IWHU WKH VSLULWXDO LQFHVW RU P\V WHULXP FRQLXQFWLRQLV RI 5HGFURVVH DQG 'XHVVD LQ &DQWR 9,,

PAGE 135

WKH GDUN DVSHFWV KDYH EHHQ V\VWHPDWLFDOO\ FRQIURQWHG DQG QHXn WUDOL]HG DQG LQ WKH UHPDLQLQJ ILYH FDQWRV WKH EULJKW DVn SHFWV PXVW EH HQHUJL]HG 7KH KHUPHWLF VHYHQ ]RQHV DQG WKHLU FKDUDFWHULVWLFV ZLOO LOOXVWUDWH WKLV FRQFHSW 7R WKH ILUVW ]RQH KH JLYHV WKH HQHUJ\ RI *URZWK DQG :DQLQJ XQWR WKH VHFRQG ]RQH 'HYLFH RI (YLOV QRZ GHHQHUJL]HG XQWR WKH WKLUG WKH *XLOH RI WKH 'Hn VLUHV GHHQHUJL]HG XQWR WKH IRXUWK KLV 'RPLQHHULQJ $UURJDQFH DOVR GHHQHUJL]HG XQWR WKH ILIWK XQKRO\ 'DULQJ DQG WKH 5DVKQHVV RI $XGDFLW\ GHHQHUJL]HG XQWR WKH VL[WK 6WULYLQJ IRU :HDOWK E\ HYLO PHDQV GHSULYHG RI LWV DJJUDQGLVHPHQW DQG WR WKH VHYHQWK ]RQH (Qn VQDULQJ )DOVHKRRG GHHQHUJL]HG ,Q DOFKHP\ D VXEVWDQFH FDQ EH GHHQHUJL]HG RQO\ WKURXJK b FRQIURQWDWLRQ ZLWK LWV SRODU RSSRVLWH 7KLV DFFRXQWV IRU WKH VRPHZKDW SDUDGR[LFDO DGYLFH FRQWDLQHG LQ WKH $OOHJRULDH VDSLHQWXP 8QOHVV WK\ VWRQH VKDOO EH DQ HQHP\ WKRX ZLOW QRW DWWDLQ WR WK\ GHVLUH $V WKH WUHDWLVH JRHV RQ WR SRLQW RXW WKH HQHP\ DSSHDUV LQ WKH JXLVH RI WKH SRLVRQRXV GUDJRQ DQG WKHQ ODWHU DV WKH OLRQ %RWK GUDJRQ DQG OLRQ PXVW EH NLOOHG IRU WKH\ UHSUHVHQW OHYHOV RI SV\FKRORJLFDO GHYHORSPHQW ZKLFK PXVW EH WUDQVFHQGHG DQG WKXV PD\ EH UHn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

PAGE 136

$QG RXHUIORZ HDFK SODLQH DQG ORZO\ GDOH %XW ZKHQ KLV ODWHU VSULQJ JLQV WR DXDOH +XJH KHDSHV RI PXGG KH OHDXHV ZKHUHLQ WKHUH EUHHG 7HQ WKRXVDQG NLQGHV RI FUHDWXUHV SDUWO\ PDOH $QG SDUWO\ IHPDOH RI KLV IUXLWIXOO VHHG 6XFK YJO\ PRQVWURXV VKDSHV HOVHZKHUH PD\ QR PDQ UHHG [[[[Lf ,W LV VLJQLILFDQW WKDW WKH GUDJRQnV YRPLW LV IXOO RI ERRNHV DQG SDSHUV $V JXDUGLDQ RI WKH JDWH WKH GUDJRQ LV GHIHQGLQJ WKH HQWUDQFH LQWR WKH XQFRQVFLRXV 7KH SDUW RI WKH XQFRQVFLRXV ILUVW DFFHVVLEOH WR WKH HJR LV RI FRXUVH WKH SHUVRQDO XQFRQVFLRXV LQ DGGLWLRQ WR DOO WKRVH DVSHFWV RI SHUVRQDOLW\ GLVDJUHHDEOH WR WKH HJR ZKLFK WKHUHn IRUH FRUUHVSRQGV WR )UHXGnV LGf WKH SHUVRQDO XQFRQVFLRXV FRQWDLQV DOO WKDW RQH KDV OHDUQHG RU H[SHULHQFHG LQ OLIH DOO WKDW KDV FRPH IURP ZLWKRXW UDWKHU WKDQ IURP ZLWKLQ 7KH DOFKHPLVWV LQVLVW WKDW LW LV WKH SULPD PDWHULD RU ILOWK RXW RI ZKLFK WKH VWRQH XOWLPDWHO\ HPHUJHV 6LQFH (J\SW LV ZKHUH WKH DUW RI DOFKHP\ ZDV WKRXJKW WR KDYH RULn JLQDWHG WKH SULPD PDWHULD LV RIWHQ FRPSDUHG WR WKH ZDWHUV RI WKH 1LOH 7KXV WKH SULPD PDWHULD LV GHVFULEHG LQ WKH 5RVDULXP DV D IDWW\ DQG VOLP\ ZDWHU ZKLFK DJUHHV YHU\ ZHOO ZLWK 6SHQVHUnV GHVFULSWLRQ RI WKH 1LOH ZKRVH IDWWLH ZDXHV GR IHUWLOH VOLPH RXWZHOO +HU VFDWWUHG EURRG VRRQH DV WKHLU 3DUHQW GHDUH 7KH\ VDZ VR UXGHO\ IDOOLQJ WR WKH JURXQG *URQLQJ IXOO GHDGO\ DOO ZLWK WURXEORXV IHDUH *DWKUHG WKHPVHOXHV DERXW KHU ERG\ URXQG :HHQLQJ WKHLU ZRQWHG HQWUDQFH WR KDXH IRXQG $W KHU ZLGH PRXWK EXW EHLQJ WKHUH ZLWKVWRRG 7KH\ IORFNHG DOO DERXW KHU EOHHGLQJ ZRXQG

PAGE 137

$QG VXFNHG YS WKHLU G\LQJ PRWKHUV EORRG 0DNLQJ KHU GHDWK WKHLU OLIH DQG HNH KHU KXUW WKHLU JRRG 7KDW GHWHVWDEOH VLJKW KLP PXFK DPD]GH 7R VHH WKnYQNLQGO\ ,PSHV RI KHDXHQ DFFXUVW 'HXRXUH WKHLU GDP RQ ZKRP ZKLOH VR KH JD]G +DXLQJ DOO VDWLVILGH WKHLU EORXG\ WKUXVW 7KHLU EHOOLHV VZROQH KH VDZ ZLWK IXOQHVVH EXUVW $QG ERZHOV JXVKLQJ IRUWK ZHOO ZRUWK\ HQG 2I VXFK DV GUXQNH KHU OLIH WKH ZKLFK WKHP QXUVW 1RZ QHHGHWK KLP QR ORQJHU ODERXU VSHQG +LV IRHV KDXH VODLQH WKHPVHOXHV ZLWK ZKRP KH VKRXOG FRQWHQG [[Y[[YLf ,Q WKLV LPDJH RI WKH 0HOXVLQDnV EURRG GULQNLQJ WKHLU PRWKHUnV EORRG DQG PDNLQJ KHU GHDWK WKHLU OLIH DQG HNH KHU KXUW WKHLU JRRG DQG WKHQ XOWLPDWHO\ VOD\LQJ WKHPn VHOYHV E\ GHYRXULQJ KHU ZH FDQ VHH DQ H[SUHVVLRQ RI WKH XURERURV SULQFLSOH 7KH XURERURV ERWK FUHDWHV DQG GHVn WUR\V LWVHOI IRU LW LV WKH VHUSHQW ZKLFK VZDOORZV LWV RZQ WDLO $V D PHWDSKRU RI WKH XQFRQVFLRXV WKH LGHD LV WKDW WKH XURERURV GRHV QRW UHFRJQL]H WKH WDLO DV LWV RZQ MXVW DV 5HGFURVVH GRHV QRW UHFRJQL]H WKH 0HOXVLQD DV SDUW RI KLPVHOI 7KLV SRLQWV WR DQ LGHQWLW\ RI SV\FKLF RSSRVLWHV IRU DV V\PEROL]HG E\ WKH KHDG DQG WDLO RI WKH XURERURV VHUSHQW WKH\ DUH QRW WZR FRQFHSWV EXW RQH %HFDXVH WKH 0HOXVLQD UHIOHFWV 5HGFURVVHnV IDXOW\ UHODWLRQVKLS WR KLV $QLPD KH KDV LQ D VHQVH JLYHQ ELUWK WR KHU DQG LQ VOD\LQJ KHU KH LV GHVWUR\LQJ D SDUW RI KLV RZQ FRUUXSW VXOSKXURXVQHVV ,W LV WKXV D IXQGDPHQWDO FRQFHSW LQ DOn FKHPLFDO WKLQNLQJ WKDW 1DWXUH UHMRLFHV LQ QDWXUH QDWXUH FRQTXHUV QDWXUH QDWXUH GRPLQDWHV QDWXUH 7KH YHQRP RI 0HOXVLQDnV EORRG LV OLNH WKH MXFH RI JUDSHV ZKLFK SRL

PAGE 138

VRQHG WKH DOFKHPLFDO WRDG LQ 7KH 9LVLRQ RI 6U *HRUJH 5LSOH\ &KDQRQ RI %ULGOLQJWRQ $ 7RDGH IXOO UXGGH VDZ GLG GULQNH WKH MXFH RI JUDSHV VR IDVW 7LOO RYHU FKDUJHG ZLWK WKH EURWK KLV ERZHOOV DOO WR EUDVW $QG DIWHU WKDW IURP SR\VRQHG EXONH KH FDVW KLV YHQPH I HOO )RU JUHLI DQG SDLQH ZKHUHRI KLV 0HPEHUV DOO EHJDQ WR VZHOO :LWK GURSV RI SR\VRQHG VZHDWH DSSURDFKLQJ WKXV KLV VHFUHW 'HQ +LV FDYH ZLWK EODVWV RI IXPRXV D\UH KH DOO EHZK\WHG WKHQ 7KH DOFKHPLFDO VLJQLILFDQFH RI 5HGFURVVHn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r LQWR KLV /HPDQV ODS WKDW WKH FRQWHQW FDQ EH FRD[HG RXW RI LWV GHQ LQ WKH XQFRQVFLRXV DQG EURXJKW LQWR WKH SXULI\LQJ

PAGE 139

OLJKW RI FRQVFLRXVQHVV $V PRGHUQ SV\FKRDQDO\VLV KDV FRQn ILUPHG WKH WURXEOHVRPH FRQWHQW LI UHFRJQL]HG FDQ WKHQ EH DVVLPLODWHG LQWR WKH FRQVFLRXV SHUVRQDOLW\ ZKHUHXSRQ KDYLQJ KDG LWV OLELGR RU SV\FKLF HQHUJ\ QHXWUDOL]HG LW ZLOO GLVDSSHDU (YHUPRU GURZQHG LQ WKH ERWWRPH RI KLV :HOO DV WKH HDUO\ SV\FKRORJLVW ZKR FRPSRVHG WKHVH DOFKHn PLFDO YHUVHV UHDOL]HG VR SHUFHSWLYHO\ :H DUH KHUH UHn PLQGHG RI WKH ZDWHU LQ 3KLODOHWKHVn SDUDEOH FLWHG DERYH S IIf ZKLFK E\ DQ DGPL[WXUH RI WKH WUXH 6XOSKXU ZLOO EH FOHDQVHG IURP WKH OHSURXV ILOWK DQG IURP WKH VXn SHUIOXRXV GURSVLFDO IOXLG 6LPLODUO\ LQ 5LSOH\nV 9LVLRQ DIWHU WKH 7RDGH KDV GUXQN WKH MXFH RI JUDSHV DQG HQGXUHG WKH DJRQL]LQJ HIIHFWV RI WKH SRLVRQ KH UHWXUQV WR KLV VHFUHW 'HQ DQG IXPHV XQWLO KLV FDYH LV EH ZK\WHG 1RZ WKLV LQLWLDO FOHDQVLQJ RU ZKLWHQLQJ LV RIWHQ WHUPHG &DOFLQDWLRQ 5LSOH\ LQ 7KH &RPSRXQG RI $OFK\PLH GHVFULEHV WKH ILUVW RI WKH WZHOYH *DWHV RI DOn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

PAGE 140

,Q DW PR *DWHV RI WKDW &DVWHOO :K\FK $QG \V URXQG DV DQ\ KDWK (OHYHQ \HW PR 2QH \V FRQTXHURG QRZ WR WKH 6HFRQG %HOO *DWHV JR 7KH 5RVDULXP VWDWHV WKDW DIWHU \RX KDYH VHSDUDWHG WKH VRXO DQG VSLULW IURP LWV GHDG ERG\ JLYH LW DJDLQ WKH URRW RI WKH VWRQH DQG WKH GHDG ERG\ ZLOO DJDLQ WDNH XS LWV VRXO 7KLV SDWWHUQ ZKLFK ZLOO RFFXU DJDLQ DIWHU 5HGFURVVHnV HQn FRXQWHU ZLWK 'XHVVD LQ &DQWR 9,, DSSOLHV WKXV WKH VRXO WKDW KDV EHHQ VHSDUDWHG IURP WKH ERG\ WKH SV\FKHf LV WKH $QLPD LQ LWV FKWKRQLF DVSHFW 'XHVVD DV WKH 0HOXVLQDf 5HGFURVVH VSLULWf LV PRGLILHG E\ WKH URRW RI WKH VWRQH XQFRQVFLRXVf DQG WKH VRXO UHDSSHDUV DV 8QD +LV /DGLH VHHLQJ DOO WKDW FKDXQVW IURP IDUUH $SSURFKW LQ KDVW WR JUHHW KLV YLFWRULH $QG VDLG )DLUH NQLJKW ERUQH YQGHU KDSS\ :KR VHH \RXU YDQTXLVKW IRHV EHIRUH \RX O\H :HOO ZRUWK\ EH \RX RI WKDW $UPRULH :KHUHLQ \H KDXH JUHDW JORU\ ZRQQH WKLV GD\ $QG SURRXnG \RXU VWUHQJWK RQ D VWURQJ HQLPLH
PAGE 141

5HGFURVVH DQG 8QD ULGH RXW RI WKH ZRRG DQG PHHW $UFKLPDJR LQ WKH JXLVH RI D KHUPLW $Q DJHG 6LUH LQ ORQJ EODFN ZHHGHV \FODG +LV IHHW DOO EDUH KLV EHDUG DOO KRDULH JUD\ DQG 5HGFURVVH HQTXLUHV ZKHWKHU KH NQRZV RI VWUDQJH DGXHQWXUHV $K P\ GHDUH 6RQQH TXRWK KHf KRZ VKRXOG DODV 6LOO\ ROG PDQ WKDW +XHV LQ KLGGHQ FHOO %LGGLQJ KLV EHDGHV DOO GD\ IRU KLV WUHVSDV 7\GLQJV RI ZDUUH DQG ZRUOG\ WURXEOH WHOO" :LWK KRO\ IDWKHU VLWV QRW ZLWK VXFK WKLQJV WR PHOO %XW LI RI GDXQJHU ZKLFK KHUHE\ GRWK GZHOO $QG KRPHEUHG HXLOO \H GHVLUH WR KHDUH 2I D VWUDXQJH PDQ FDQ \RX WLGLQJV WHOO 7KDW ZDVWHWK DOO WKLV FRXQWUH\ IDUUH DQG QHDUH 2I VXFK VDLG KHf FKLHIO\ GR LQTXHUH $QG VKDOO \RX ZHOO UHZDUG WR VKHZ WKH SODFH ,Q ZKLFK WKDW ZLFNHG ZLJKW KLV GD\HV GRWK ZHDUH )RU WR DOO NQLJKWKRRG LW LV IRXOH GLVJUDFH 7KDW VXFK D FXUVHG FUHDWXUH OLXHV VR ORQJ D VSDFH )DU KHQFH TXRWK KHf LQ ZDVWIXOO ZLOGHUQHVVH +LV GZHOOLQJ LV E\ ZKLFK QR OLXLQJ ZLJKW 0D\ HXHU SDVVH EXW WKRURXJK JUHDW GLVWUHVVH 1RZ VD\G WKH /DG\f GUDZHWK WRZDUG QLJKW $QG ZHOO ZRWH WKDW RI \RXU ODWHU ILJKW
PAGE 142

LV EHVWRZHG XSRQ WKRVH ZKR GHYHORS WKH SRZHUV RI WKH SV\FKH WR WKHLU IXOOHVW 7KH ZDVWIXOO ZLOGHUQHVV ZKHUH 5HG FUFVVHnV GZHOOLQJ LV LV HJRFRQVFLRYVQHVV ZKLFK KDV EHn FRPH EDUUHQ DQG LQIHUWLOH WKURXJK SUHYLRXV QHJOHFW RI WKH XQFRQVFLRXV ,W LV HVSHFLDOO\ VLJQLILFDQW WKDW 5HGFURVVH DV WKH UHSUHVHQWDWLYH RI WKH DOFKHPLFDO 6RO VKRXOG WDNH ZLWK WKH 6XQQH WLPHO\ UHVW &RQVFLRXVQHVV PHDVXUHV KHDXHQ DOO GD\ RQO\ WR VLQN DW QLJKW LQWR WKH XQFRQVFLRXV WR EDLWH KLV VWHHGV WKH 2FHDQ ZDXHV HPRQJ $V WKH 7KUHH ZKLFK FRPHV RXW RI 7ZR RU WKH GDUN PDVFXOLQH DVSHFW RI 0HUFXULXV $UFKLPDJR LV DV PXFK D SHUVRQLILFDWLRQ RI WKH XQn FRQVFLRXV DV 8QD LV VR 5HGFURVVH FDQ KDUGO\ UHIXVH WR VSHQG WKH QLJKW DW KLV KHUPLWDJH $ OLWWOH ORZO\ +HUPLWDJH LW ZDV 'RZQH LQ D GDOH KDUG E\ D IRUHVWV VLGH )DU IURP UHVRUW RI SHRSOH WKDW GLG SDV ,Q WUDXHOO WR DQG IURH D OLWWOH Z\GH 7KHUH ZDV DQ KRO\ &KDSSHOO HGLI\GH :KHUHLQ WKH +HUPLWH GHZO\ ZRQW WR VD\ +LV KRO\ WKLQJV HDFK PRUQH DQG HXHQW\GH 7KHUHE\ D &KULVWDOO VWUHDPH GLG JHQWO\ SOD\ :KLFK IURP D VDFUHG IRXQWDLQH ZHOOHG IRUWK DOZD\ [[[LYf ,I WKH KHUPLWDJH VHHPV UHPLQLVFHQW RI (UURXUV 'HQ WKDW KROORZ FDXH $PLG WKH WKLFNHVW ZRRGV ZKHUH 5HGFURVVH VOHZ WKH 0HOXVLQD WKLV LV QR FRLQFLGHQFH H[FHSW IRU D VOLJKW PHWDPRUSKRVLV LW LV WKH VDPH SODFH 7KLV EDVLF JHRJUDSK\ ZLWK LWV XQPLVWDNHDEOH )UHXGLDQ V\PEROLVP LV FRPPRQ LQ DOFKHPLFDO OLWHUDWXUH ,Q WKH SDUDEOH HQWLWOHG 7KH +HUPHWnV 7DOH IRU H[DPSOH ZH ILQG WKH IROORZLQJ

PAGE 143

,Q 3LOJULPDJH RQH RQHO\ WKLQJ IRXQG 2I ZRUWK LQ /HPQHV QHUH WR 9XOFDQV VKRSS $ &KULVWDOO IRXQWHLQH UXQQLQJ XQGHU JURXQG %HWZHHQ D 9DOO\ DQG D 0RXQWHLQHV WRSS 3OHDVnG ZLWK WKLV VLJKW ELG D +HUPLWH WHOO 7KH VWRU\ RI WKH SODFH ZKR WKHUH GLG GZHOO :LWKLQ WKLV 9DOH D KDOLRZH GXVN\ &DYH 7KHUH LV TXRWK KHf RI JUHDWH $QWLTXLW\ 6SHQVHUnV VDFUHG IRXQWDLQH FRUUHVSRQGV WR WKH PHUFXULDO IRXQWDLQ RI WKH DOFKHPLVWV ZKLFK DV -XQJ SRLQWV RXW JRHV VWUDLJKW WR WKH KHDUW RI DOFKHPLFDO V\PEROLVP [Q WKH 5RVDULXP EHQHDWK D ZRRGFXW RI WKH PHUFXULDO IRXQWDLQ LV WKH IROORZLQJ VWDWHPHQW :H DUH WKH PHWDOVn ILUVW QDWXUH DQG RQO\ VRXUFH 7KH KLJKHVW WLQFWXUH RI WKH $UW LV PDGH WKURXJK XV 1R IRXQWDLQ DQG QR ZDWHU KDV P\ OLNH PDNH ERWK ULFK DQG SRRU ERWK ZKROH DQG VLFN )RU KHDOWKIXO FDQ EH DQG SRLVRQRXV :H ILQG WKH PHUFXULDO IRXQWDLQ QRW RQO\ LQ &DQWR EXW LQ &DQWR 9,, ZKHQ 5HGFURVVH DQG 'XHVVD FRPPLW WKHLU VSLULn WXDO IRUQLFDWLRQ DQG LQ &DQWR ;, ZKHUH LW LV WUDQVn IRUPHG LQWR WKH ZHOO RI OLIH WKDW UHIUHVKHV 5HGFURVVH DV KH EDWWOHV WKH ZLQJHG ILUH GUDJRQ :KDW (ULFK 1HXPDQQ VDLG DERXW P\VWLFLVPf§WKDW LW LV D ULWXDO FLUFOLQJ RI WKH FHQWUHDSSOLHV KHUH IRU WKH HQWLUH SURFHVV RI %RRN LV FHQWHUHG DURXQG WKH YDULRXV PDQLIHVWDWLRQV RI WKH PHUn FXULDO IRXQWDLQ ,W LV WKXV D IRUHVKDGRZLQJ RI SRWHQWLDO ZKROHQHVV HDFK GLVWLOODWLRQ LV WR WKH HQWLUH RSXV DV WKH PLFURFRVP WR WKH PDFURFRVP :KDW FKDQJHV LV QRW WKH IRXQn WDLQ EXW 5HGFURVVHnV SHUFHSWLRQ RI LW ,W PD\ VHHP SDUDn GR[LFDO WKDW WKH KHDOLQJ ZDWHU VKRXOG DW ILUVW EH SRL

PAGE 144

VRQRXVLQGHHG DV WKH HSLJUDP WR &DQWR LQGLFDWHV WKH SRLVRQRXVQHVV LV WKDW RI HUURU VXFFHHGHG E\ K\SRFULV\ 7KH 3DWURQ RI WUXH +ROLQHVVH )RXOH (UURXU GRWK GHIHDWH +\SRFULVLH KLP WR HQWUDSH 'RWK WR KLV KRPH HQWUHDWH ,W LV KRZHYHU LQ DFFRUG ZLWK DOFKHPLFDO WKHRU\ WKDW WKH HQYLURQPHQW LQ ZKLFK WKH LQLWLDO LPSXOVH WRZDUG ZKROHQHVV LV WR EH IRXQG LV WKDW RI VWULFWO\ QHJDWLYH TXDOLWLHV 7KH VHQVH RI DPD]HPHQW DQG LQFUHGXOLW\ ZLWK ZKLFK WKH LQH[SHULn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n SKRVLV RI 0HUFXULXVf§ZKR ZLOO OHDG WKH ZD\ WR +HOO 5HG FURVVH D 3URWHVWDQW DQG D SDWURQ WKHUHIRUH RI WUXH +ROLQHVVH LV UHTXLUHG WR VSHQG WKH QLJKW LQ D KHUPLWDJH SUHVLGHG RYHU E\ WKH VSLULW RI &DWKROLFLVP :LWK IDLUH GLVFRXUVH WKH HXHQLQJ VR WKH\ SDV )RU WKDW ROG PDQ RI SOHDVLQJ ZRUGHV KDV VWRUH $QG ZHOO FRXOG ILOH KLV WRQJXH DV VPRRWK DV JODV +H WROG RI 6DLQWHV DQG 3RSHV DQG HXHUPRUH +H VWURZG DQ $XH0DU\ DIWHU DQG EHIRUH [[[Yf

PAGE 145

/LNH $UFKLPDJR ZKR LV ZRQW WR VD\ +LV KRO\ WKLQJV HDFK PRUQH DQG HXHQW\GH WKH DOFKHPLVW 7KRPDV &KDUQRFNnV 7XWRU LQ 3KLORVRSK\ DV &KDUQRFN DGPLWV LQ WKH nWUHDWLVH 7KH %UHYLDU\ RI 3KLORVRSK\ f ZDV JLYHQ WR VLPLODU GHYRn WLRQV $QG WKHUH LQ D &KDPEHU DQRQH IRXQG KLP RXW 3UD\LQJ XSRQ KLV %HDGHV YHU\ GHYRXW 7KRXJK &KDUQRFN PD\ EH DJKDVW DW KLV 7XWRUnV SRSHU\ LW VKRXOG EH HPSKDn VL]HG WKDW KH GRHV JR WR KLP IRU LQVWUXFWLRQ LQ DOFKHP\ KHUHLQ OLHV DQ DPELYDOHQW DWWLWXGH WRZDUG &DWKROLFLVP ZKLFK ZH PXVW DSSUHFLDWH LI ZH DUH WR XQGHUVWDQG $UFKLPDJR DQG WKH K\SRFULVLH ZKLFK KH UHSUHVHQWV IRU DQ\RQH KDYLQJ WR GR ZLWK P\VWLFLVP RU LQGHHG WKH RFFXOW DUWV DQG VFLn HQFHV JHQHUDOO\ ZRXOG LQ WKH SRSXODU HVWLPDWLRQ FDUU\ ZLWK KLP DW OHDVW WKH VXVSLFLRQ RI &DWKROLF V\PSDWKLHVA $FFRUGLQJ WR -XQJ DOFKHP\ LQ WKH VL[WHHQWK DQG VHYHQWHHQWK FHQWXULHV ZDV IRU WKH 3URWHVWDQW WKH RQO\ ZD\ RI VWLOO EHLQJ &DWKROLF $QG \HW IRU WKH 3URWHVWDQW ZKR SUDFn WLFHG HVRWHULF DOFKHP\ WKH ZLGHVSUHDG KRUURU RI &DWKROLn FLVP ZKLFK WKH SUDFWLWLRQHU KLPVHOI ZRXOG OLNHO\ KDYH VKDUHGnf PXVW KDYH FRQWULEXWHG WR WKH LPPHQVH VHQVH RI VSLULWXDO GDQJHU VXUURXQGLQJ WKLV DUW 7KH GURXSLQJ 1LJKW WKXV FUHHSHWK RQ WKHP IDVW $QG WKH VDG KXPRXU ORDGLQJ WKHLU H\H OAGGHV $V PHVVHQJHU RI 0RUSKHXV RQ WKHP FDVW 6ZHHW VORPEULQJ GHDZ WKH ZKLFK WR VOHHSH WKHP ELGGHV 9QWR WKHLU ORGJLQJV WKHQ KLV JXHVWHV KH ULGGHV :KHUH ZKHQ DOO GURZQG LQ GHDGO\ VOHHSH KH ILQGHV +H WR KLV VWXG\ JRHV DQG WKHUH DPLGGHV +LV 0DJLF ERRNHV DQG DUWHV RI VXQGU\ NLQGHV +H VHHNHV RXW PLJKW\ FKDUPHV WR WURXEOH VOHHS\ PLQGHV

PAGE 146

7KHQ FKRRVLQJ RXW IHZ ZRUGHV PRVW KRUULEOH /HW QRQH WKHP UHDGf WKHUHRI GLG YHUVHV IUDPH :LWK ZKLFK DQG RWKHU VSHOOHV OLNH WHUULEOH +H EDG DZDNH EODFNH 3OXWRHV JULHVO\ 'DPH $QG FXUVHG KHDXHQ DQG VSDNH UHSURFKIXOO VKDPH 2I KLJKHVW *RG WKH /RUG RI OLIH DQG OLJKW $ EROG EDG PDQ WKDW GDUnG WR FDOO E\ QDPH *UHDW *RUJRQ 3ULQFH RI GDUNQHVV DQG GHDG QLJKW $W ZKLFK &RF\WXV TXDNHV DQG 6W\[ LV SXW WR IOLJKW $QG IRUWK KH FDOG RXW RI GHHSH GDUNQHVVH GUHG /HJLRQV RI 6SULJKWV WKH ZKLFK OLNH OLWWOH IO\HV )OXWWULQJ DERXW KLV HXHU GDPQHG KHG $ZDLWH ZKHUHWR WKHLU VHUXLFH KH DSSO\HV 7R DLG KLV IULHQGV RU IUD\ KLV HQLPLHV [[[YL[[[YLLLf $UFKLPDJR OLXHV LQ KLGGHQ FHOO %LGGLQJ KLV EHDGHV DOO GD\ IRU KLV WUHVSDV OLNH &KDUQRFNnV 7XWRU LQ 3KLORVRSK\ DQG \HW DW QLJKW KH WXUQV WR KLV 0DJLF ERRNHV DQG DUWHV RI VXQGU\ NLQGHV WR UDLVH PDOLJQ IURP +HOO $W IDFH YDOXH WKLV ZRXOG VXUHO\ VHHP WKH HSLWRPH RI K\SRFULVLH 1HYHUWKHOHVV WKLV DFFRXQW RI $UFKLPDJRnV FRQMXULQJ XS D ILW IDOVH GUHDPH ZLWK ZKLFK WR GHOXGH 5HGFURVVH ZKLFK ZLOO RFFXS\ WKH UHPDLQLQJ WZHQW\ VWDQ]DV RI &DQWR VHUYHV DV D FRPPHQWDU\ RQ PXFK PRUH WKDQ $UFKLPDJRnV K\SRFULVLH $V 6SHQVHU KDV VWDWHG LQ WKH OHWWHU WR 5DOHLJK WKH SXUSRVH RI WKH SRHP LV WR IDVKLRQ D JHQWOHn PDQ RU QREOH SHUVRQ LQ YHUWXRXV DQG JHQWOH GLVFLSOLQH 7KLV HSLVRGH GRHV DV D PDWWHU RI IDFW VKRZ PRUH H[SOLFLWn O\ WKDQ DQ\ZKHUH HOVH LQ WKH SRHP KRZ WKLV JUHDW PLUDFOH ZLOO EH DFFRPSOLVKHG 7KHVH ILQDO VWDQ]DV DUH LQ HIIHFW D SHQHWUDWLQJ DQDO\VLV RI WKH PHDQV DQG WKH VRXUFH RI WKH PDJLF ZKLFK ZLOO VXSSO\ WKH HQHUJ\ IRU WKH SURFHVV RI

PAGE 147

WUDQVIRUPDWLRQ 8QGRXEWHGO\ WKHUH PXVW KDYH EHHQ WKRVH LQ WKH &RXUW RI (OL]DEHWK SULY\ WR WKH 0\VWHULHV RI WKH HVRn WHULF WUDGLWLRQ ZKR ZRXOG KDYH EHHQ DSSDOOHG E\ 6SHQVHUnV GLVUHJDUG RI KLV REOLJDWLRQ WR NHHS WKHVH PRVW FUXFLDO VHn FUHWV XQGHU ORFN DQG NH\ ,W LV WUXH WKDW DQ\RQH IDPLOLDU ZLWK DOFKHPLFDO OLWHUDWXUH ZRXOG EH VWUXFN E\ WKH SURPLn QHQFH RI GUHDPV DQG GUHDP YLVLRQV LQ WKHVH ZULWLQJV DV ZHOO DV WKH HYHQ PRUH REYLRXV IDFW WR DQ\RQH IDPLOLDU ZLWK GUHDPVf WKDW DOFKHPLFDO SDUDEOHV DUH LQYDULDEO\ ZULWn WHQ LQ WKH V\PEROLF ODQJXDJH RI GUHDPV %XW OLNH DOO ? 0DJLF ERRNHV DOFKHPLFDO WUHDWLVHV ZHUH ]HDORXVO\ JXDUn GHG DJDLQVW SHUXVDO E\ WKH XQLQLWLDWHG ZKR LQ DQ\ FDVH ZRXOG KDYH EHHQ EDIIOHG E\ WKH JLEEHULVK IURP *HEHU WKH DOFKHPLVW ZKRVH MDUJRQ ZDV LQFRPSUHKHQVLEOH WR WKH XQLQLWLDWHGf 7KH IDFW LV WKDW GUHDPV KDYH D FUXFLDO IXQFWLRQ LQ WKH WUDQVIRUPDWLRQ RI WKH SHUVRQDOLW\ VLQFH LW LV ODUJHO\ WKURXJK GUHDP DQDO\VLV WKDW WKH YDULRXV FRPn SRQHQWV RI WKH SV\FKH DUH EURXJKW LQWR SURSHU EDODQFH $V ZH KDYH VHHQ LQ &KDSWHU ,, V\PEROV DQG VLWXDWLRQV LQ WKH GUHDPV RI PRGHUQ SDWLHQWV XQGHUJRLQJ SV\FKRDQDO\VLV EHDU D VWDUWOLQJ VLPLODULW\ WR ZKDW LV IRXQG LQ DOFKHPLFDO ZULWLQJV 0RGHUQ SV\FKRDQDO\VLV KDV PHUHO\ DV -XQJ KDV VKRZQ UHn GLVFRYHUHG ZKDW WKH DOFKHPLVWV KDG NQRZQ DOO DORQJ 3V\n FKRORJLFDOO\ WKHQ 5HGFURVVH LV WKH FORZQLVKH \RXQJH PDQ WUDQVODWHG IURP WKH WKLUG GLPHQVLRQ ZDNLQJ H[LVWHQFHf LQWR WKH IRXUWK XQFRQVFLRXV UHDOP RI GUHDPVf§6SHQVHUnV )DHU\ ODQGf KH LV LQ RWKHU ZRUGV WKH GUHDP HJR WKH ZDNLQJ HJRnV

PAGE 148

KHURLF FRXQWHUSDUW ZKR VHUYHV DV WKH SURWDJRQLVW LQ WKH GLYLQH GUDPD RI LQGLYLGXDWLRQ WKDW LV SOD\HG RXW LQ WKH XQFRQVFLRXV DV DQ DXWRQRPRXV DFWLYLW\ RI WKH SV\FKH 7KH FORZQLVKH \RXQJH PDQ ZKR LV WR EH VSLULWXDOO\ WUDQVPXWHG LQWR WKH SHUIHFWHG 6DLQW *HRUJH RI (QJODQG LV LQLWLDOO\ VRPHZKHUH EHWZHHQ WKH PRUDO H[WUHPHV RI $UFKLPDJR DQG $UWKXU VLQFH $UFKLPDJR LV HTXLYDOHQW SV\FKRORJLFDOO\ WR WKH 6KDGRZ RU PRUH SUHFLVHO\ WKH 6KDGRZ RI WKH 6HOIf $QG $UWKXU WR WKH 6HOI 7KH PHDQLQJ RI WKH FRQFHSW WKDW WKH DGHSW LV DW RQFH ERWK UHGHHPHU DQG UHGHHPHG LV WKLV LW LV DW KLV RZQ SURPSWLQJ WKDW WKH SDLUV RI RSSRVLWHA ZLWKLQ WKH SV\FKH DUH EURXJKW LQWR FRQWHQWLRQ LW LV KH ZKR DW OHDVW LQLWLDOO\ RUFKHVWUDWHV WKH FRQIURQWDWLRQ RI WKH HJRFRQVFLRXVQHVV ZLWK WKH SRZHUV RI WKH XQFRQVFLRXV MXVW DV $UFKLPDJR GRHV LQ 7KH )DHULH 4XHHQH EHIRUH WKH HPHUn JHQFH RI $UWKXU 7KH ZKROH SRLQW WR WKH PDJLFDO SURn FHGXUH LV WR VWLU XS WKH FRQWHQWV RI WKH XQFRQVFLRXV XQWLO WKH\ EHJLQ WR PDQLIHVW WKHPVHOYHV LQ GUHDPV ,Q D YHU\ UHDO VHQVH WKHUHIRUH WKH DGHSW PXVW WXUQ WR WKH $UFKLn PDJR ZLWKLQ KLPVHOI DQG ZLWK WKH DLG RI KLV PDJLF ERRNHV VHHN RXW PLJKW\ FKDUPHV WR WURXEOH VOHHS\ PLQGHV IRU LW LV HQWLUHO\ LQ DFFRUG ZLWK DOFKHPLFDO SURFHGXUH DW OHDVW LQ WKH HDUO\ VWDJHV RI WKH RSXV WKDW WKH DGHSW VKRXOG DZDNH EODFNH 3OXWRHV JULVHO\ 'DPH DQG FDOO E\ QDPH *UHDW *RUn JRQ 3ULQFH RI GDUNQHVV DQG GHDG QLJKW 7KLV LV SUHFLVHO\ WKH LQWHQW EHKLQG WKH DGPRQLWLRQ LQ %ORRPILHOGV %ORVVRPV WR %ULQJ WKHP ILUVW WR +HOO I9 ,QGHHG -RKQ 'HH ZKR DV ZH

PAGE 149

KDYH VHHQ LQ &KDSWHU ,,, ZDV VR JUHDW D PDJLFLDQ DV WR KDYH EHHQ ZHOO GHVHUYLQJ RI WKH QDPH $UFKLPDJR GLG KLPVHOI FDOO IRUWK /HJLRQV RI 6SULJKWV MXVW OLNH $UFKLPDJR DQG LQ IDFW FUHDWHG DQ HQRUPRXV IXURU LQ KLV GD\ E\ GRLQJ VR RQH RI WKH JUHDW FRQWURYHUVLHV VXUURXQGLQJ 'HH DUH WKH DFFRXQWV RI KLV FRQMXULQJ RI VSLULWVA 6XIILFH LW WR VD\ WKDW LW LV VXUHO\ QRW DFFLGHQWDO WKDW $UFKLPDJRnV 6SULJKWV ZKLFK DUH OLNH OLWWOH IO\HV )OXWWULQJ DERXW KLV HXHU GDPQHG KHG VHHP UHPLQLVFHQW RI WKH IUXLWIXOO FXUVHG VSDZQV RI VHUSHQWV VPDOO WKDW VZDUP DURXQG 5HGFURVVH DIWHU KH KDV VODLQ WKH b GUDJRQ ZKLFK DUH WKHQ FRPSDUHG WR WKH FORXG RI FXPEURXV JQDWV WKDW PROHVW WKH 6KHSKHDUG XQWLO ZLWK KLV FORZQLVK KDQG WKHLU WHQGHU ZLQJV +H EUXVKHWK RIW DQG RIW GRWK PDU WKHLU PXUPXULQJV [[LL[[LLLf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

PAGE 150

KDYH GHVWUR\HG KLPVHOI PRUDOO\ DQG SV\FKRORJLFDOO\ +H PDNLQJ VSHHG\ ZD\ WKURXJK WKH ZRUOG RI ZDWHUV ZLGH U DQG $QG WKURXJK 7R 0RUSKHXV KRXVH GRWK KDVWLO\ UHSDLUH $PLG WKH ERZHOV RI WKH HDUWK IXOO VWHHSH $QG ORZ ZKHUH GDZQLQJ GD\ GRWK QHXHU SHHSH +LV GZHOOLQJ LV WKHUH 7HWK\V KLV ZHW EHG 'RWK HXHU ZDVK DQG &\QWKLD VWLOO GRWK ,Q VLOXHU GHDZ KLV HXHUGURXSLQJ KHG :KLOHV VDG 1LJKW RXHU KLP KHU PDQWOH EODFN GRWK :KRVH GRXEOH JDWHV KH ILQGHWK ORFNHG IDVW 7KH RQH IDLUH IUDPnG RI EXUQLVKW
PAGE 151

.LQJ LV EXULHG LQ 6DWXUQ 1RZ WKH EXULHG .LQJ V\Pn EROL]HV WKH XQUHDOL]HG SRWHQWLDO RI WKH LPSHUIHFWHG QDWXUDO PDQ RIWHQ H[SUHVVHG E\ WKH FRQFHSW RI WKH VRXO KLGGHQ LQ PDWWHU RU LQ 7KH )DHULH 4XHHQH E\ WKH LQDELOLW\ RI 8QDnV IDWKHU WR GHVWUR\ WKH GUDJRQ WKDW KROGV KLV .LQJGRP LQ ERQGn DJH 8QDnV IDWKHU LV WKHUHIRUH WKH PRUDO HTXLYDOHQW RI WKH FORZQLVKH \RXQJH PDQ ZKRVH WULDOV DV WKH .QLJKW RI 5HG FURVVH FRUUHVSRQG WR WKH UHQHZDO RI WKH .LQJ 7KH OLQN EHn WZHHQ 6SHQVHUnV 0RUSKHXV DQG WKH DOFKHPLFDO 6DWXUQ LV WR EH IRXQG LQ WKH UHODWLRQVKLS EHWZHHQ WKH LQYRFDWLRQ WR 6DWXUQ DQG WKH UHQHZDO RI WKH .LQJ -XQJ GLVFXVVHV WKH SV\FKRORJLn FDO LPSOLFDWLRQV WKXV ,W LV VHHQWKDW WKH NLQJ LV JURZLQJ ROG HYHQ EHIRUH KH VHHV LW KLPVHOI UXOLQJ LGHDV WKH GRPLn QDQWV FKDQJH DQG WKH FKDQJH XQGHWHFWHG E\ FRQn VFLRXVQHVV LV PLUURUHG RQO\ LQ GUHDPV :KHQ WKHUHIRUH DQ DOFKHPLVW FRQMXUHG XS WKH VSLULW RI 6DWXUQ DV KLV IDPLOLDU WKLV ZDV DQ DWWHPSW WR EULQJ WR FRQVFLRXVQHVV D VWDQGSRLQW RXWVLGH WKH HJR LQn YROYLQJ D UHODWLYL]DWLRQ RI WKH HJR DQG LWV FRQn WHQWV 6SHQVHUnV VXEVWLWXWLRQ RI 0RUSKHXV IRU 6DWXUQ UHSUHVHQWV WKH XQYHLOLQJ RI D YHU\ UHDO VHFUHW LI RQH FORVHO\ H[Dn PLQHV WKH FKDUDFWHULVWLFV ZKLFK WKH DOFKHPLVWV DWWULEXWH WR WKHLU 6DWXUQ LQ WHUPV RI IXQFWLRQ UDWKHU WKDQ ODEHO LW EHn FRPHV DSSDUHQW WKDW KH LV LQ HIIHFW WKH FUHDWRU DQG VRXUFH RI GUHDPV 7KLV LV ZK\ WKH SURJUHVVLRQ WKURXJK WKH SODQHWDU\ KRXVHV PXVW DOZD\V EHJLQ ZLWK 6DWXUQ XQOHVV 6Dn WXUQ LV URXVHG IURP KLV VOXPEHU WKHUH ZLOO EH QR ZD\ WR VHW LQWR PRWLRQ WKH VHTXHQFH RI GUHDPV GHSLFWLQJ WKH SUR

PAGE 152

FHVV RI LQGLYLGXDWLRQ ZLWKRXW ZKLFK WKH RSXV DOFK\PLFXP LV QR PRUH WKDQ D WKHRUHWLFDO SRVVLELOLW\f DQG WKH GLYLQH GUDPD ZLOO QRW HPHUJH LQWR FRQVFLRXVQHVV IRU DV WKH DOn FKHPLVWV H[SUHVV LW 6RO DQG /XQD FDQ H[LVW RQO\ WKURXJK 6DWXUQ ZKHQ $UFKLPDJR DQ DVSHFW RI WKH XQNQRZQ 0HUn FXU\ VHQGV KLV ZLOO LQ WKH IRUP RI D 6SULWH WR WKH KRXVH RI 0RUSKHXV $PLG WKH ERZHOV RI WKH HDUWK IXOO VWHHSH ZKHUH WKH JRG OLHV :UDSW LQ HWHUQDOO VLOHQFH IDUUH IURP HQHP\HV WR IHWFK D GUHDP ZKLFK ZLOO WRUPHQW 5HGFURVVH WKH PDJLFLDQ LV SHUIRUPLQJ DQ DOFKHPLFDO RSHUDWLRQ RI ZKLFK b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nV GDUNQHVV DQG GHDG QLJKW DQG DUH V\PEROL]HG E\ WKH FRORUV JUH\ DQG EODFN 7KH SV\FKRORJLFDO LPSOLFDWLRQV RI WKH LPDJHU\ DVVRFL $ DWHG ZLWK 6DWXUQ -XQJ DQDO\]HV WKXV *UH\ DQG EODFN FRUUHVSRQG WR 6DWXUQ DQG WKH HYLO ZRUOG WKH\ V\PEROL]H WKH EHJLQQLQJ LQ GDUNQHVV LQ WKH PHODQFKRO\ IHDU ZLFNHGQHVV DQG ZUHWFKHGQHVV RI RUGLQDU\ KXPDQ OLIH 7KH GDUNQHVV DQG EODFNQHVV FDQ EH LQWHUSUHWHG SV\FKRORJLFDOO\ DV PDQnV FRQIXVLRQ DQG ORVWQHVV WKDW VWDWH ZKLFK QRZDGD\V UHVXOWV LQ DQ DQDPQHVLV D WKRURXJK H[DPLQDWLRQ RI DOO WKRVH FRQn WHQWV ZKLFK DUH WKH FDXVH RI WKH SUREOHPDWLFDO VLWX

PAGE 153

DWLRQ RU DW DQ\ UDWH LWV H[SUHVVLRQ 7KLV H[DPLn QDWLRQ DV ZH NQRZ LQFOXGHV WKH LUUDWLRQDO FRQWHQWV WKDW RULJLQDWH LQ WKH XQFRQVFLRXV DQG H[SUHVV WKHPn VHOYHV LQ IDQWDVLHV DQG GUHDPV LQWHUSUHWDWLRQ RI GUHDPV FRQIURQW SRLQW ZLWK WKH VWDWHPHQWV RI 7KH DQDO\VLV DQG WKH WKH FRQVFLRXV WKXV VWDQG XQFRQVFLRXV 7KLV ZLGHQLQJ LWV QDUURZ KRUL]RQ FUDPSHG DQG ULJLG DWWLWXGHV FRUUHVSRQGV WLRQ DQG VHSDUDWLRQ RI WKH HOHPHQWV EY WKH RI ORRVHQLQJ XS WKH VROXn WR PDQHQV ZKLFK ZDV E\ LQ WKH DTXD SHU DOUHDG\ SUHVHQW WKH DUW 7KH ZDWHU LV D ERG\ VRXO DQG RU LV OXUHG RXW E\ VSLULW WKDW LV D SV\FKLF VXEVWDQFH ZKLFK LV QRZ LQ LWV WXUQ DSSOLHG WR WKH LQLWLDO PDWHULDO 7KLV FRUUHVSRQGV WR XVLQJ WKH GUHDPnV PHDQLQJ WR FODULI\ H[LVWLQJ SUREOHPV 7KH LPDJH RI 0RUSKHXV VOXPEHULQJ $PLG WKH ERZHOV RI WKH HDUWK LV WKH PRVW VWULNLQJ RI WKH YDULRXV H[SUHVVLRQV RI WKH SULPD PDWHULD RU WKH LQLWLDO RU LPSHUIHFW VWDWH LQ &DQWR -XQJ SRLQWV RXW WKDW LQ DOFKHP\ WKH LPSHUIHFW VWDWH LV OLNH WKH VOHHSLQJ VWDWH LW LV VLJQLILFDQW WKDW 6SHQVHU VKRXOG KDYH JLYHQ 0RUSKHXV WKH DWWULEXWHV RI 6DWXUQ IRU OHDG DV WKH KHDYLHVW PHWDO UHSUHVHQWV WKH KLJKHVW GHJUHH RI XQFRQVFLRXVQHVV MXVW DV 0RUSKHXVn EHLQJ :UDSW LQ HWHUQDOO VLOHQFH IDUUH IURP HQHP\HV LV LQ NHHSLQJ ZLWK 6DWXUQnV SRVLWLRQ DV WKH PRVW GLVWDQW RI WKH SODQHWV -XQJ KDV REVHUYHG WKDW WR WKH HDUOLHU DOFKHPLVWV LW LV QRW TXLFNVLOYHU EXW WKH OHDG DVVRFLDWHG ZLWK 6DWXUQ ZKLFK XVXDOO\ UHSUHVHQWV WKH SULPD PDWHULD ,QGHHG WKH QHFHVVLW\ RI WKH 6SULJKWnV XQGHUWDNLQJ WKH 1LJKW 6HD -RXUQH\f§D PRWLI LQFLGHQWDOO\ ZKLFK PD\ EH UHn JDUGHG DV D IRUHVKDGRZLQJ RI WKH 5R\DO 0DUULDJH DQG SOXQJLQJ WKURXJK WKH ZRUOG RI ZDWHUV ZLGH DQG GHHSH WR UHDFK WKH KRXVH RI 0RUSKHXV GRHV LQGLFDWH WKDW LI 6DWXUQ

PAGE 154

LV QRW WKH PHUFXULDO IRXQWDLQ KH LV DW OHDVW WR EH VRXJKW DW WKH ERWWRP RI LW .KXQUDWK LQ IDFW OLQNV WKH VWDJH UHSUHVHQWHG E\ WKH (DUWK GUDJRQ ZKLFK -XQJ GHILQHV DV WKH ORZHVW DQG PRVW LQFKRDWH IRUP RI WKH .LQJ WR 6DWXUQ 6DWXUQ LV VRPHWLPHV FRQVLGHUHG WKH IDWKHU DQG RULJLQ RI 0HUFXULXV DQ LGHD ZKLFK PDNHV VHQVH LI 0HU FXULXV LV WR EH XQGHUVWRRG SV\FKRORJLFDOO\ DV WKH SHUVRQLn ILFDWLRQ RI WKH XQFRQVFLRXV DV GHSLFWHG LQ GUHDPV DQG 6DWXUQ WKH FUHDWRU RI WKH GUHDPV 6RPH DOFKHPLVWV UHJDUG 0HUFXULXV VHQH[ DV LGHQWLFDO ZLWK 6DWXUQ ZKLFK H[n SODLQV ZK\ $UFKLPDJR 0HUFXULXV VHQH[f VKDUHV VRPH RI 6Dn WXUQnV IXQFWLRQV DV ZKHQ KH WUDQVIRUPV WKH RWKHU RI WKH WZR VSULJKWV LQWR WKH OLNHQHVV RI 8QD LQ RUGHU WKDW 5HG FURVVH EH WRUPHQWHG E\ D YLVLRQ RI $UFKLPDJRnV FUHDWLRQf DV ZHOO DV D GUHDP IURP 0RUSKHXVf &HUWDLQO\ $UFKLPDJRnV PDFKLQDWLRQV WKURXJKRXW %RRN RI 7KH )DHULH 4XHHQH KHOS IXOILOO 6DWXUQnV UHVSRQVLELOLWLHV DV 7HPSWHU DQG RSSUHV %XW OLNH DOO FRQFHSWV LQ DOFKHP\ 6DWXUQ KDV D GXDO QDWXUH -XQJ REVHUYHV WKDW DOWKRXJK DVWURORJLFDOO\ 6DWXUQ LV D PDOHILF SODQHW RI ZKRP RQO\ WKH ZRUVW LV H[SHFn WHG KH LV DOVR D SXULILHU EHFDXVH WUXH SXULW\ LV DWWDLQHG RQO\ WKURXJK UHSHQWDQFH DQG H[SLDWLRQ RI VLQ 9LJHQHUXV GHILQHV WKH GXDO IXQFWLRQ WKXV VLJQLILHV WKH YH[DWLRQV DQG WURXEOHV ZKHUHZLWK *RG YLVLWV XV DQG EULQJV XV EDFN WR UHSHQWDQFH )RU DV OHDG EXUQV XS DQG UHPRYHV DOO WKH LPSHUIHFWLRQV RI PHWDOV IRU ZKLFK UHDVRQ %RHWKXV WKH $UDE FDOOHG LW WKH ZDWHU RI 6XOSKXU VR OLNHZLVH WULEXODWLRQ LQ WKLV OLIH FOHDQVHV XV IURP WKH PDQ\ EOHPLVKHV ZKLFK

PAGE 155

ZH KDYH LQFXUUHG ZKHUHIRUH 6W $PEURVH FDOOV LW WKH NH\ RI KHDYHQ 7KH H[WUHPHV LQ ZKLFK 6DWXUQ FDQ EH PDQLIHVWHG LQ WKH SURn FHVV RI DOFKHPLFDO WUDQVIRUPDWLRQ FDQ EH VHHQ IURP 0LFKDHO 0DLHUnV 6\PEROD DXUHDH PHQVDH GXRGHFLP QDWLRQXP f -XQJ LV FRPPHQWLQJ RQ WKH DXWKRUnV VHDUFK IRU 0HUFXULXV LQ KLV EHQLJQ DVSHFWf +H FDQ ILQG 0HUFXULXV RQO\ WKURXJK WKH ULWH RI WKH DVFHQW DQG GHVFHQW WKH FLUFXODU GLVWLOODWLRQ EHJLQQLQJ ZLWK WKH EODFN OHDG ZLWK WKH GDUNQHVV FROGQHVV DQG PDOLJQLW\ RI WKH PDOHILF 6DWXUQ WKHQ DVFHQGLQJ WKURXJK WKH RWKHU SODQHWV WR WKH ILHU\ 6RO ZKHUH WKH JROG LV KHDWHG LQ WKH KRWWHVW ILUH DQG FOHDQVHG RI DOO LPSXULWLHV DQG ILQDOO\ UHWXUQLQJ WR 6DWXUQ ZKHUH WKLV WLPH KH PHHWV 0HUFXULXV DQG UHn FHLYHV VRPH XVHIXO WHDFKLQJV IURP KLP 6DWXUQ KDV KHUH FKDQJHG IURP D VWDU RI LOO RPHQ LQWR D GRPXV EDUEDH +RXVH RI WKH %HDUGf ZKHUH WKH ZLVHVW RI DOO 7KULFH*UHDWHVW +HUPHV LPSDUWV ZLVGRP 6SHQVHUnV HTXLYDOHQW RI WKH GRPXV EDUEDH HSLVRGH LV DV ZH VKDOO VHH WR EH IRXQG LQ &DQWR ; ZKHUH 5HGFURVVH UHn FHLYHV LQVWUXFWLRQ IURP WKH DJHG KRO\ PDQ ZKRVH QDPH ZDV KHDXHQO\ &RQWHPSODWLRQ DQG ZKR UHSUHVHQWV WKH DQWLn W\SH RI $UFKLPDJR ZKR RI FRXUVH LV DVVRFLDWHG RQO\ ZLWK WKH PDOHILF 6DWXUQ ,W LV VLJQLILFDQW WKDW WKH GXDO DVSHFW RI 6DWXUQ LV SUHVHQW IURP WKH EHJLQQLQJ LQ WKH GRXEOH JDWHV RI 0RUSKHXVn KRXVH 7KH RQH IDLUH IUDPnG RI EXU QLVKW
PAGE 156

'HOLXHUHG LW WR KLP DQG GRZQH GLG OD\ +LV KHDXLH KHDG GHXRLGH RI FDUHIXOO FDUNH :KRVH VHQFHV DOO ZHUH VWUDLJKW EHQXPEG DQG VWDUNH +H EDFNH UHWXUQLQJ E\ WKH
PAGE 157

$QG HNH WKH *UDFHV VHHPHG DOO WR VLQJ +\PDQ LR +\PHQ GDXQFLQJ DOO DURXQG :KLOVW IUHVKHVW )ORUD KHU ZLWK
PAGE 158

WKH /DG\ KDV WKH EHKDYLRU RI WKH RQH DQG WKH DSSHDUDQFH RI WKH RWKHU 7R VRPHRQH OHVV QDLYH WKDQ 5HGFURVVH WKLV VKRXOG SRLQW LPPHGLDWHO\ WR D FRQFHSWXDO LGHQWLW\ ,W ZLOO EH RQO\ DIWHU DQ DJRQL]LQJ RUGHDO RI SXULILFDWLRQ WKDW WKH \RXQJ 3DWURQ RI +ROLQHVV ZLOO FRPH WR UHDOL]H WKDW DOO FRQn FHSWV H[LVW DV SRODULWLHV IRU WKH PRPHQW HYHU\WKLQJ LV UHGXFHG IURP ERWKDQG WR HLWKHURU FRQIURQWHG ZLWK WKH ED\WHG KRRNH RI WKH QHJDWLYH $QLPD 5HGFURVVH ORVHV IDLWK LQ KHU SRVLWLYH FRXQWHUSDUW DQG LV WKXV 0XFK JULHXnG WR WKLQNH WKDW JHQWOH 'DPH VR OLJKW )RU ZKRVH GHIHQFH KH ZDV WR VKHG KLV EORRG OYf 8QGHUO\LQJ WKH DOOHJRU\ RI &DQWR DUH WZR VHSDUDWH DOFKHPLFDO RSHUDWLRQV :H KDYH VHHQ WKDW 5HGFURVVHnV ILUVW DGXHQWXUH WKH VOD\LQJ RI WKH SRLVRQRXV HDUWK GUDJRQ RU 0HOXVLQD FRUUHVSRQGV WR WKH ILUVW RI WKH WZHOYH RSHUDWLRQV RU *DWHV DV VHW IRUWK LQ *HRUJH 5LSOH\nV 7KH &RPSRXQG RI $OFK\PLH 7KH ILUVW *DWH LV &DOFLQDWLRQ ZKLFK 5LSOH\ GHn ILQHV DV WKH SXUJDF\RQ RI RXU 6WRQH 7KH VHFRQG *DWH ZKLFK FRUUHVSRQGV WR WKH ILQDO HSLVRGH RI &DQWR WKH FRQn MXULQJ XS RI WKH GUHDP LV 6ROXWLRQ 2I 6ROXFLQ QRZ Z\OO VSHNH D ZRUG RU WZR :K\FK VKHZHWK RZW WKDW HUU ZDV K\G IURP V\JKW $QG PDN\WK LQWHQXDWH WKLQJV WKDW ZHUH WK\N DOVR %\ WKH YHUWXH RI RXU I\UVW 0HQVWUXH FOHUH DQG EU\JKW ,Q ZK\FK RXU %RG\HV HFO\SV\G EHQ WR V\JKW $QG RI WKHU KDUG DQG GU\ &RPSDFW\RQ VXEW\O\DW ,QWR WKHUH RZQH I\UVW QDWXUH N\QGO\ UHWURJUDGDWH 6ROXWLRQ LQYROYHV PDNLQJ YLVLEOH D SDUW RI WKH KLGGHQ SULPD PDWHULD 5LSOH\nV I\UVW QDWXUHf RU FKDRV 3V\FKRORJLFDO

PAGE 159

O\ LW LV WKH JDWKHULQJ RI GUHDP GDWD IRU SXUSRVHV RI SV\n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n IXO /RUG ZDV VODLQ E\ WKH 6DUD]LQ HUH P\ KRSHG GD\ RI VSRXVDO %\ WKLV WLPH WKH KHDW RI WKH VXQ KDV EHFRPH VR JUHDW WKDW 5HGFURVVH DQG )LGHVVD WDNH FRYHU LQ WKH VKDGH RI WZR JRRGO\ WUHHV 5HGFURVVH LQ RUGHU WR IDVKLRQ D JLUORQG IRU KHU GDLQW\ IRUHKHDG EUHDNV RII D EUDQFK IURP RQH RI WKH WUHHV ZKLFK WKHQ EOHHGV VPDOO GURSV RI JRU\

PAGE 160

EORXG $ SLWHRXV \HOOLQJ YRLFH LV KHDUG LGHQWLI\LQJ LWVHOI DV RQFH D PDQ )UDGXELR QRZ D WUHH )UDGXELR H[n SODLQV WKDW WKH /DG\ 'XHVVD ZKRP KH ZRQ DV D SULVH PDU WLDOO FDXVHG KLP WKURXJK ZLWFKFUDIW WR IRUVDNH KLV RZQ /DG\ )UDHOLVVD :KHQ )UDGXELR ILQDOO\ VDZ WKDW 'XHVVD ZDV UHDOO\ D ILOWK\ IRXOH ROG ZRPDQ WKH ZLWFK SHUFHLYHG KLV WKRXJKWV DQG WUDQVIRUPHG ERWK KLP DQG )UDHOLVVD LQWR WUHHV 7KH VSHOO )UDGXELR VD\V FDQQRW EH EURNHQ XQWLO KH DQG KLV /DG\ EH EDWKHG LQ D OLXLQJ ZHOO 5HGFURVVH ZDQWLQJ WR EH LQQRFHQW RI )UDGXELRn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nV 7KH &RPSRXQG RI $OFK\PLH 6HSDUDn WLRQ LV LQWHUPHGLDWH EHWZHHQ 6ROXWLRQ DQG &RQMXQFWLRQ WKH LQLWLDO V\QWKHVLV RI RSSRVLWHV DV LQGLFDWHG E\ WKH VSLULn WXDO IRUQLFDWLRQ RI 5HGFURVVH DQG 'XHVVD LQ &DQWR 9,,f $W WKH SUHVHQW VWDJH RI WKH RSXV DOFK\PLFXP LW LV DSSDUHQW WKDW WKH SUHSDUDWLRQ RI WKH 3KLORVRSKHUnV 6WRQH KDV DOUHDG\

PAGE 161

DGYDQFHG WZR VWHSV f WKH VXUIDFH RI WKH DUFDQH VXEVWDQFH KDV EHHQ ZDVKHG FOHDQ :KLWHQLQJ RU &DOFLQDWLRQf ZKLFK FRUUHVSRQGV WR RYHUFRPLQJ WKH LQLWLDO UHVLVWDQFH WR H[n SORULQJ WKH XQFRQVFLRXV WKH VOD\LQJ RI WKH (DUWK 'UDJRQf DQG f WKH DUFDQH VXEVWDQFH KDV EHHQ VXEMHFWHG WR D FRUn URVLYH 6ROXWLRQWKH DOFKHPLVWV VRPHWLPHV FDOO LW WKH *UHHQ /LRQ ZKLFK EHJLQV WR GLVVROYH WKH RXWHU OD\HUV WR UHYHDO ZKDW LV KLGGHQ ZLWKLQ DQG ZKLFK SV\FKRORJLFDOO\ EHJLQV WR PDNH GDWD IURP WKH XQFRQVFLRXV DYDLODEOH WR FRQVFLRXVn QHVV WKH GUHDP IURP 0RUSKHXV DQG WKH YLVLRQV DQG WKRXJKWV DVVRFLDWHG ZLWK LWf 7KH SUHVHQW SURFHGXUH LQYROYHV 6HSDn UDWLRQ RI WKH DUFDQH VXEVWDQFH LQWR LWV FRQVWLWXHQW HOHn PHQWV DQG FRUUHVSRQGV WR GHWHUPLQLQJ XQFRQVFLRXV SHUVRQDn OLW\ FRPSRQHQWV E\ DQDO\]LQJ WKH SV\FKH IURP WKH YDQWDJH SRLQW RI WKH REMHFWLYH QRQHJR LH LQ GUHDPVf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

PAGE 162

:KRP VXGGHQO\ KH ZDNHV ZLWK IHDUHIXOO IULJKWV $V RQH DJKDVW ZLWK IHHQGV RU GDPQHG VSULJKWV $QG WR KLP FDOV 5LVH ULVH YQKDSS\ 6ZDLQH 7KDW KHUH ZH[ ROG LQ VOHHSH ZKLOHV ZLFNHG ZLJKWV +DXH NQLW WKHPVHOXHV LQ 9HQXV VKDPHIXOO FKDLQH &RPH VHH ZKHUH \RXU IDOVH /DG\ GRWK KHU KRQRXU VWDLQH $OO LQ DPD]H KH VXGGHQO\ YS VWDUW :LWK VZRUG LQ KDQG DQG ZLWK WKH ROG PDQ ZHQW :KR KLP EURXJKW LQWR D VHFUHW SDUW :KHUH WKDW IDOVH FRXSOH ZHUH IXOO FORVHO\ PHQW ,Q ZDQWRQ OXVW DQG OHZG HPEUDFHPHQW :KLFK ZKHQ KH VDZ KH EXUQW ZLWK JHDORXV ILUH 7KH H\H RI UHDVRQ ZDV ZLWK \EOHQW $QG ZRXOG KDXH VODLQH WKHP LQ KLV IXULRXV LUH %XW KDUGO\ ZDV UHVWUHLQHG RI WKDW DJHG VLUH LLLYf $UFKLPDJRnV SODFLQJ WKH WZR 6SULJKWV LQ D VHFUHW EHG ZKHUH WKH\ LR\ LQ YDLQH GHOLJKW LV FRPSDUDEOH WR WKH DOn FKHPLVWn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f 5HGFURVVH EHFDXVH RI KLV VSLULWXDO QDLYHWH GRHV KRZHYHU GLVVRFLDWH KLPVHOI IURP WKH HYLO ZKLFK $UFKLPDJR KDV SRUWUD\HG EHIRUH KLV H\HV EXW WKH UHDVRQ WKH 6RUFHUHU VXFFHHGV LQ UHVWUDLQLQJ KLP IURP DWWDF

PAGE 163

NLQJ WKH FRXSOH LV WKDW $UFKLPDJR LV DIWHU DOO RI WKH VDPH VXEVWDQFH DV 5HGFURVVH +LV SRZHU LV LQGLFDWLYH RI D YHU\ UHDO FKDUDFWHU IODZ LQ 5HGFURVVH 0RUDOO\ WKH RQO\ GLIIHn UHQFH EHWZHHQ WKLV IRUQLFDWLRQ DQG WKH RQH ZKLFK 5HGFURVVH ZLOO FRPPLW ZLWK 'XHVVD LQ &DQWR 9,, LV WKDW KHUH WKH \RXWK KDV QRW \HW DFFHSWHG WKH IDFW WKDW ZKDW KH VHHV LV D SDUW RI KLPVHOI :H KDYH VHHQ LQ &DQWR WKDW ZKHQ )DLUH 9HQXV VHHPGH YQWR KLV EHG WR EULQJ +HU ZKRP KH ZDNLQJ HXHUPRUH GLG ZHHQH 7R EH WKH FKDVWHVW IORZUH1RZ D ORRVH /HPDQ WR YLOH VHUXLFH ERXQG ,[OYLLLf WKH \RXQJ .QLJKWnV UHVSRQVH ZDV D JUHDW SDVVLRQ RI YQZRQWHG OXVW 2U ZRQWHG IHDUH RI GRLQJ RXJKW DPLV ,[OL[f 7KH SDUDOOHO ZLWK 3KLODOHWKHVn SDUDEOH TXRWHG DERYH S IIf LV REYLRXV :RUWKOHVV LV WKH WKLHI DUPHG ZLWK WKH PDOLJQLW\ RI DUVHQLF IURP ZKRP WKH ZLQJHG \RXWK IOHHWK VKXGGHULQJ $QG WKRXJK WKH FHQWUDO ZDWHU LV KLV EULGH \HW GDUH QH QRW GLVSOD\ KLV PRVW DUGHQW ORYH WRZDUGV KHU EHFDXVH RI WKH VQDUHV RI WKH WKLHI ZKRVH PDFKLQDWLRQV DUH LQ WUXWK XQDYRLGDEOH -XQJ LQ KLV H[SOLFDWLRQ S DERYHf SRLQWV RXW WKDW WKH WKLHI ZKR LV DUPHG ZLWK DOO HYLOLV PHUHO\ WKH HJR DQG LWV VKDGRZ ZKHUH WKH DE\VPDO GHSWKV RI KXPDQ QDWXUH EHn JLQ WR DSSHDU :KHQ 5HGFURVVH VHHV WKH WZR 6SULJKWV ,Q ZDQWRQ OXVW DQG OHZG HPEUDFHPHQW LW LV VLJQLILFDQW WKDW KLV LUH DQG UDJH DUH PLQJOHG ZLWK MHDORXV\ $V .DWKOHHQ :LOOLDPV KDV REVHUYHG +LV DQJHU DW WKH VKDPHn OHVVQHVV RI WKH IDOVH 8QD LV DQJU\ IHDU RI KLV RZQ ZHDNQHVV UHYHDOHG WR KLP LQ KLV GUHDPV +LV IHDUH RI GRLQJ

PAGE 164

RXJKW DPLV LV VXFK WKDW DW GD\EUHDN 5HGFURVVH FODG KLP KDVWLO\ DQG KH DQG WKH 'ZDUIH ERWK DZD\ GR IO\ 5HGn FURVVH VR EXUQV ZLWK JHDORXV ILUH WKDW KH OHDYHV 8QD EHn KLQG WR VHDUFK IRU KLP WKURXJK HXHU\ KLOO DQG GDOH HDFK ZRRG DQG SODLQH YLLLf ZKLOH KH 6WLOO IO\LQJ IURP KLV WKRXJKWV DQG JHDORXV IHDUH [LLf UXVKHV VWUDLJKW LQWR WKH VQDUHV RI 'XHVVD ZKR DV UHSUHVHQWDWLYH RI /XQD LV DV ULJKWIXOO\ DV 8QD 6XOSKXUnV FRPSDQLRQ WKRXJK WR EH VXUHDV WKH PRRQnV GDUN VLGH 'XHVVD ZLOO QRW KDYH WKH WUXH EXW WKH FRUUXSW 6XOSKXU DV FRPSDQLRQ ,Q WKLV UHVSHFW LW LV LQGLFDWLYH WKDW WKH 'ZDUIH KDV DOVR EHHQ VHSDUDWHG IURP 8QD ZLWK ZKRP KH ZDV IRUPHUO\ DVVRFLDWHG WKH 'ZDUIH RXJKW RUGLQDULO\ WR EH LQ DWWHQGDQFH RQ 8QD VLQFH UDWLRQDOLW\ WKDW WDNHV WKH XQFRQVFLRXV 8QDf SURSHUO\ LQWR FRQVLGHUDn WLRQ OHDGV WR ZLVGRP ZKHUHDV LI UDWLRQDOLW\ LV WLHG WR WKH HJR LW OHDGV WR D GDQJHURXV OLIHGHQ\LQJ RQHVLGHGQHVV WKDW LV WKH H[DFW RSSRVLWH RI ZLVGRP ,Q FRQQHFWLRQ ZLWK WKLV LW LV LQWHUHVWLQJ WKDW )ORUD ZKR LQ WKH SUHVHQFH RI 6SHQVHUnV 9HQXV FURZQV WKH /RRVH /HPDQ WKH IDOVH 8QDf ZLWK DQ
PAGE 165

VLWXDWLRQ ZLOO VRRQ FKDQJH WKDW WKH SUHVHQW PDFKLQDWLRQV RI WKH WKLHI DUH LQ WUXWK XQDYRLGDEOH DQG LQGHHG HYHQ QHFHVVDU\ LV LQGLFDWHG E\ WKH IDFW WKDW DV DQRWKHU DOn FKHPLVW H[SUHVVHV LW WKH UR\DO GLDGHP LV H[WUDFWHG IURP WKH PHQVWUXXP RI RXU ZKRUH %XW VXEWLOO $UFKLPDJR ZKHQ KLV JXHVWV +H VDZ GLXLGHG LQWR GRXEOH SDUWV $QG 9QD ZDQGULQJ LQ ZRRGV DQG IRUUHVWV 7KnHQG RI KLV GULIW KH SUDLVG KLV GLXHOLVK DUWV 7KDW KDG VXFK PLJKW RXHU WUXH PHDQLQJ KDUWV
PAGE 166

GHU WKHQ WKDW KH ZDV RYHUMR\HG WR VHH KLV JXHVWV GLXLGHG LQWR GRXEOH SDUWV )XUWKHUPRUH WKHUH FDQ EH QR GRXEW DERXW $UFKLPDJRnV FDSDFLW\ IRU WURXEOHPDNLQJ IRU DV DQ\n RQH IDPLOLDU ZLWK DOFKHP\ ZRXOG UHFRJQL]H LPPHGLDWHO\ WKLV LV D SHUIHFW GHVFULSWLRQ RI 0HUFXULXV D UHDO WULFNVWHU ZKR GURYH WKH DOFKHPLVWV WR GHVSDLU 7KH WKHULRPRUSKLF IRUPV DQG VKDSHV HQXPHUDWHG KHUHf§IRZOH ILVK IR[H GUDn JRQ DQG LQGHHG VQDNHf§DUH DOO DVVRFLDWHG ZLWK 0HUFXULXV DQG DUH FRPPRQO\ GHSLFWHG LQ LOOXVWUDWLRQV IRXQG LQ DOn FKHPLFDO WUHDWLVHV LW LV HVSHFLDOO\ ILWWLQJ WKDW 0HUn FXULXV VKRXOG EH VSHFLILFDOO\ LGHQWLILHG ZLWK $UFKLPDJR 7KH DGHSW OLNH WKH FKDUDFWHU $UFKLPDJR VWXGLHV KLV VHFUHW ERRNV DQG WKHQ VXPPRQV XS WKH ZLOO ZKLFK GDUHV WR FDOO IRUWK SV\FKLF SRZHUV EH\RQG WKH HJR DQG WKHUHIRUH EH\RQG FRQVFLRXV FRQn WURO XQOHDVKLQJ WKH GHPRQLVP KLGGHQ LQ KLV RZQ QDWXUH DQG DW WKH VDPH WLPH WUXVWLQJ WKDW E\ DQ DFW RI GLYLQH JUDFH D ZD\ ZLOO EH IRXQG WR RYHUFRPH LW KH PXVW ULVN ORVLQJ KLV VRXO LQ RUGHU WR VDYH LW %HFDXVH WKH SV\FKRORJLFDO VXUJHU\ WKDW KH LV SHUIRUPLQJ RQ KLPVHOI LV UDGLFDO KH LV LQ D YHU\ UHDO VHQVH KLV RZQ ZRUVW HQHP\ DQG LV DV GDQJHURXV WR KLPVHOI DV $UFKLPDJR LV WR 5HGFURVVH $W ODVW KLP FKDXQVW WR PHHWH YSRQ WKH ZD\ $ IDLWKOHVVH 6DUD]LQ DOO DUPnG WR SRLQW ,Q ZKRVH JUHDW VKLHOG ZDV ZULW ZLWK OHWWHU JD\ 6DQV IR\ IXOO ODUJH RI OLPEH DQG HXHU\ LRLQW +H ZDV DQG FDUHG QRW IRU *RG RU PDQ D SRLQW +H KDG D IDLUH FRPSDQLRQ RI KLV ZD\ $ JRRGO\ /DG\ FODG LQ VFDUORW UHG 3XUIOHG ZLWK JROG DQG SHDUOH RI ULFK HVVD\ $QG OLNH D 3HUVLDQ PLWUH RQ KHU KHG

PAGE 167

6KH ZRUH ZLWK FURZQHV DQG RZFKHV JDUQLVKHG 7KH ZKLFK KHU ODXLVK ORXHUV WR KHU JDXH +HU ZDQWRQ SDOIUH\ DOO ZDV RXHUVSUHG :LWK WLQVHOO WUDSSLQJV ZRXHQ OLNH D ZDXH :KRVH EULGOH UXQJ ZLWK JROGHQ EHOV DQG ERVVHV EUDXH :LWK IDLUH GLVSRUW DQG FRXUWLQJ GDOOLDXQFH LQWHUWDLQGH KHU ORXHU DOO WKH ZD\ ZKHQ VKH VDZ WKH NQLJKW KLV VSHDUH DGXDXQFH VRRQH OHIW RII KHU PLUWK DQG ZDQWRQ SOD\ EDG KHU NQLJKW DGGUHVVH KLP WR WKH 6KH %XW 6KH $QG [LL[LYf 'XHVVD WKH QHJDWLYH DVSHFW RI /XQD KDV WKXV IDU XQGHUJRQH WKH IROORZLQJ GHYHORSPHQW WKH /HPDQ LQWR ZKRVH ODS ,, DQJU\ ,RXH SRXUHG D KLGHRXV VWRUPH RI UDLQH WKH DPDOn JDP RI ZRPDQ DQG VHUSHQW WKH 0HOXVLQD WKH LQVXEVWDQWLDO 6SULJKW IUDPnG RI OLTXLG D\UH GHSLFWLQJ 8QD DV D ORRVH /HPDQ DQG ILQDOO\ WKH SUHVHQW JRRGO\ /DG\ ZKR FRUUHn VSRQGV WR ZKDW WKH DOFKHPLVWV WHUP WKHLU QREOH ZKRUH 9Hn QXV -XQJ FLWHV UHIHUHQFHV WR VKRZ WKDW DV ZLWK WKH :KRUH RI %DE\ORQ WKLV DOFKHPLFDO ILJXUH LV WUDGLWLRQDOO\ DVVRFLDWHG ZLWK UHG JDUPHQWV 7KH 7UDFWDWXV DXUHXV GH ODSLGH VD\V RI WKH DUFDQH VXEVWDQFH 7KDW QREOH ZKRUH 9HQXV LV FORWKHG DQG HQYHORSHG LQ DERXQGLQJ FRORXU 7KLV FRORXU KDV D UHGGLVK DSSHDUDQFH 7KH QRELOLW\ RI WKLV 9HQXV GHn ULYHV IURP WKH IDFW WKDW VKH LV DOVR WKH TXHHQ WKH FKDVWH EULGH RI WKH NLQJ ,Q KLV 3UDFWLFD GH ODn SLGH %DVLOLXV 9DOHQWLQXV VD\V 7KLV WLQFWXUH LV WKH UHG EORRG RI WKH GUDJRQ GHVFULEHG E\ PDQ\ DQG WKH SXUSOH FORDN ZLWK ZKLFK WKH TXHHQ LV FRYHUHG ,W PD\ DW ILUVW VHHP LQDSSURSULDWH WR WKLQN RI 6SHQVHUnV /DG\ FODG LQ VFDUORW UHG 'XHVVD DV TXHHQ DQG FKDVWH EULGHn RI WKH NLQJ LW LV QHFHVVDU\ KRZHYHU WR EHDU LQ PLQG WKDW 8QD DQG 'XHVVD UHSUHVHQW RSSRVLWH KDOYHV RI WKH

PAGE 168

VDPH SRODULW\ DQG WKDW DQ\WKLQJ KDSSHQLQJ WR RQH KDSSHQV WR WKH RWKHU DV ZHOO -XVW DV SV\FKRORJLFDOO\ HYHU\ DVn SHFW RI HYHU\ FRQVFLRXV H[SHULHQFH KDV D FRUUHVSRQGLQJ XQn FRQVFLRXV FRUUHODWH VR HYHU\ HYHQW LQYROYLQJ WKH DOFKHPLn FDO /XQD ZLOO KDYH DW OHDVW WZR IDFHV 7KH YDULRXV IDFHWV RI D JLYHQ FRPSOH[ VLWXDWLRQ DUH WR EH XQGHUVWRRG DV RFFXUn ULQJ VLPXOWDQHRXVO\ WKRXJK REYLRXVO\ WKH\ ZLOO EH UHn YHDOHG DV D OLQHDU VHTXHQFH %HIRUH WKH ORXHO\ /DGLH 8QD 5HGFURVVHnV ILUVW FRPSDQLRQ LV GLYLGHG LQWR OLJKW DQG GDUN VLGHV RI WKH PRRQ VKH UHSUHVHQWV /XQD DV DQ LQWHJUDO FRQFHSW WKHUHIRUH KHU 5R\DOO O\QDJH LV 2I DQFLHQW .LQJV DQG 4XHHQHV WKDW KDG RI \RUH 7KHLU VFHSWHUV VWUHWFKW IURP (DVW WR :HVWHUQH VKRUH $QG DOO WKH ZRUOG LQ WKHLU VXELHF WLRQ KHOG ,Yf $IWHU WKH 3DWURQ RI +ROLQHVVH KDV WDNHQ WKH SODFH RI WKH IDLWKOHVVH 6DUD]LQ 6DQV )R\ KH LV RQFH DJDLQ WKH FRPSDQLRQ RI /XQD EXW WKLV WLPH WKH FRQFHSW KDV EHHQ GLYLGHG LQ KDOI 'XHVVD WHOOV KLP WKDW VKH ZDV %RUQH WKH VROH GDXJKWHU RI DQ (PSHURXU +H WKDW WKH ZLGH :HVW YQGHU KLV UXOH KDV ,OU[[LLf 7KH PRRQ KDV EHHQ VHSDUDWHG LQWR WZR SDUWV DQG WKH (PSHURXUnV GRPLQLRQ KDV DFFRUGLQJO\ EHHQ UHGXFHG WR KDOI WKH ZRUOG ,W LV SV\FKRORJLFDOO\ VLJn QLILFDQW WKDW 'XHVVDnV SRUWLRQ VKRXOG EH WKH ZHVWHUQ KDOI (DVW DQG :HVW PD\ EH UHJDUGHG DV V\PEROLF UHVSHFWLYHO\ RI WKH XQFRQVFLRXV DQG FRQVFLRXV KDOYHV RI WKH SV\FKH $OWKRXJK ZKLWH LV WKH FRORU RUGLQDULO\ DVVRFLDWHG ZLWK /XQD WKH DVSHFW RI /XQD WKDW LV WHUPHG 9HQXV WKH :KRUH

PAGE 169

LV V\PEROL]HG E\ UHG WKH VRODU FRORU ZKLFK LV UHSUHVHQWDn WLYH RI 6RO WKH PDVFXOLQH FRPSRQHQW RI WKH FRQLXQFWLR DQG WKHUHIRUH DSWO\ OLQNHG ZLWK WKH :HVW DQG HJRFRQVFLRXVn QHVV $FFRUGLQJ WR -XQJ WKH SV\FKRORJLFDO IXQFWLRQ RI WKH 6FDUORW /DG\ LQ DOFKHP\ LV WR FRPSHQVDWH WKH QHJDWLYH DVn SHFW RI D FRQVFLRXV GRPLQDQW 7KH DQLPD LQ KHU QHJDWLYH DVSHFWf§WKDW LV ZKHQ VKH UHPDLQV XQFRQVFLRXV DQG KLGGHQH[HUWV D SRVVHVn VLYH LQIOXHQFH RQ WKH VXEMHFW 7KH FKLHI V\PSWRPV RI WKLV SRVVHVVLRQ DUH EOLQG PRRGV DQG FRPSXOVLYH HQn WDQJOHPHQWV RQ RQH VLGH DQG RQ WKH RWKHU FROG XQn UHODWHG DEVRUSWLRQ LQ SULQFLSOHV DQG DEVWUDFW LGHDV 7KH QHJDWLYH DVSHFW RI WKH DQLPD LQGLFDWHV WKHUHIRUH D VSHFLDO IRUP RI SV\FKRORJLFDO PDODGMXVWPHQW 7KLV LV HLWKHU FRPSHQVDWHG IURP WKH FRQVFLRXV VLGH RU HOVH LW FRPSHQVDWHV D FRQVFLRXVQHVV DOUHDG\ PDUNHG E\ D FRQWUDU\ DQG HTXDOO\ LQFRUUHFWf DWWLWXGH )RU WKH QHJDWLYH DVSHFW RI WKH FRQVFLRXV GRPLQDQW LV IDU IURP EHLQJ D *RGJLYHQ LGHD LW LV WKH PRVW HJRLVWLF LQn WHQWLRQ RI DOO ZKLFK VHHNV WR SOD\ DQ LPSRUWDQW UROH DQG E\ ZHDULQJ VRPH NLQG RI PDVN WR DSSHDU DV VRPHn WKLQJ IDYRXUDEOH LGHQWLILFDWLRQ ZLWK WKH SHUVRQDOf 7KH DQLPD FRUUHVSRQGLQJ WR WKLV DWWLWXGH LV DQ LQWUL JHU ZKR FRQWLQXDOO\ DLGV DQG DEHWV WKH HJR LQ LWV UROH ZKLOH GLJJLQJ LQ WKH EDFNJURXQG WKH YHU\ SLWV LQWR ZKLFK WKH LQIDWXDWHG HJR LV GHVWLQHG WR IDOO 7KH UHDVRQ WKDW 'XHVVDnV DFFRXQW RI KHU PLVIRUWXQHV SDUDOn OHOV 8QDn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

PAGE 170

:KHQ WLGLQJV FDPH WR PH YQKDSS\ PDLG KRZ JUHDW VRUURZ P\ VDG VRXOH DVVDLG 7KHQ IRUWK ZHQW KLV ZRHIXOO FRUVH WR ILQG $QG PDQ\ \HDUHV WKURXJKRXW WKH ZRUOG VWUDLG $ YLUJLQ ZLGRZ ZKRVH GHHSH ZRXQGHG PLQG :LWK ORXH ORQJ WLPH GLG ODQJXLVK DV WKH VWULNHQ KLQG $W ODVW LW FKDXQFHG WKLV SURXG 6DUD]LQ 7R PHHWH PH ZDQGULQJ ZKR SHUIRUFH PH OHG :LWK KLP DZD\ EXW \HW FRXOG QHXHU ZLQ 7KH )RUW WKDW /DGLHV KROG LQ VRXHUDLJQH GUHDG [[LLL[[Yf 7KH LGHQWLW\ EHWZHHQ WKLV DQG 8QDnV VWRU\ EHFRPHV HYLGHQW DV VRRQ DV LW LV UHSKUDVHG LQ SV\FKRORJLFDO WHUPV 7KH 3ULQFH LV FRQVFLRXVQHVV ZKLFK DVVHUWHG LQGHSHQGHQFH IURP WKH UHVW RI WKH SV\FKH DQG VR IHOO IURP KLJK KRQRUV VWDLUH 7KH IRQH DFWLQJ DJDLQVW WKH ORQJUDQJH EHVW LQWHUHVWV RI WKH FRQVFLRXV PLQG DUH WKH HJRFRPSOH[ ZKLFK KDV VHL]HG SRZHU 7KH 3ULQFH KDV EHHQ VODLQH LQ WKH VHQVH WKDW WKH )DOO VHSDUDWHG FRQVFLRXVQHVV IURP WKH HWHUn QDO DVSHFW RI WKH SV\FKH DQG DV 0LOWRQ SXWV LW %URXJKW 'HDWK LQWR WKH :RUOG DQG DOO RXU ZRH 7KH SV\FKH GRHV KRZHYHU \HDUQ IRU ZKROHQHVV DQG WKH XQFRQVFLRXV UHJDUn GLQJ FRQVFLRXVQHVV DV FRQXDLG $QG IUR PH KLG KDV JRQH IRUWK D YLUJLQ ZLGRZ WR VHDUFK IRU WKH ERG\ VSRLOG RI OLXHO\ EUHDWK DQG UHVWRUH WKH ZRHIXOO FRUVH WR OLIH E\ EULQJLQJ LW EDFN LQWR FRPPXQLRQ ZLWK WKH UHVW RI WKH SV\FKHf§ZKLFK LV WKH JUHDW WDVN RI WKH DOFKHPLFDO SURFHn GXUH 5HGFURVVH DV WKH IDLWKOHVVH 6DUD]LQ KDG QR FKDQFH WR ZLQ WKH )RUW IRU DV ORQJ DV KH ZDV KLPVHOI OLWHUDOO\ 6DQV )R\ DQ\ UHDO FRPPXQLRQ ZLWK WKH XQFRQVFLRXV

PAGE 171

ZRXOG EH LPSRVVLEOH )RU WKLV IDLWK LV UHTXLUHG DQG IDLWK LQYROYHV EHOLHI LQ WKH SRZHU ZLVGRP DQG LQGHHG H[LVWHQFH RI WKH XQFRQVFLRXV DV QRQHJR %\ GHIHDWLQJ 6DQV )R\ LQ EDWWOH 5HGFURVVH KDV PDGH D IXUWKHU VWHS WRn ZDUG EHFRPLQJ WKH WUXH 3DWURQ RI +ROLQHVVH 7KH YLFWRU\ ZKLFK ZDV EH\RQG 6DQV )R\ ZLOO EH ZRQ E\ 5HGFURVVH LQ &DQWR 9,, IRU LW LV WKHUH WKDW WKH P\VWHULXP FRQLXQFWLRQLV ZLOO RFFXU 5HGFURVVHnV UHODWLRQVKLS WR WKH $QLPD ZLOO VKLIW IURP QHJDWLYH 'XHVVDf WR SRVLWLYH 8QDf DQG WKH XOWLPDWH UHXQLILFDWLRQ RI WKH SV\FKH ZLOO IROORZ 8QDnV VWRU\ RI ? KHU IDWKHUn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

PAGE 172

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f :KHQ 5HGFURVVH DQG 8QD SDVVHG WKURXJK WKH VKDGLH JURXH WR HVFDSH WKH IXU\ RI -RYHnV KLGHRXV VWRUPH RI UDLQH WKH 3KLORVRSKLFDO 7UHH 7KH EXLOGHU 2DNH VROH NLQJ RI IRUUHVWV DOO ZDV DOPRVW LQFRQVSLFXRXV DPRQJ WKH RWKHU WUHHV RI WKH IRUHVW 5HGFURVVH LV QRZ UHH[SHULHQFLQJ WKDW PRPHQW EXW WKLV WLPH DW D VOLJKWO\ PRUH LQWHQVH OHYHO RI DZDUHQHVV DQG YLHZHG IURP D GLIIHUHQW DQJOH 7KH VLQJOH WUHH KDV QRZ EHFRPH WZR 0DULDnV D[LRP 2QH EHFRPHV 7ZRf DQG DWWHQWLRQ KDV VR IRFXVHG RQ WKHVH WZR WKDW DOO WKH RWKHU WUHHV KDYH GLVDSSHDUHG $V LQ WKH DOFKHPLn FDO JDUGHQ LQ 0\OLXVn 6\PEROXP 6DWXUQL WKH 3KLORVRSKLn FDO 7UHH LV RIWHQ GLYLGHG LQWR WZR $PRQJ WKHVH SHUn FHLYHG WZR RXWVWDQGLQJ RQHV KLJKHU WKDQ WKH RWKHUV WKH\ ZHUH QDPHG E\ 1HSWXQH WKH WUHH RI WKH VXQ DQG WKH WUHH RI WKH PRRQ )URP WKLV LW LV DSSDUHQW WKDW WKH WZR WUHHV DUH DQ H[SUHVVLRQ RI WKH UHODWLRQVKLS RI 6RO DQG /XQD 7KH\ DUH DOVR OLQNHG WR WKH GUDJRQ RI &DQWR -XQJ

PAGE 173

r KDV VKRZQ WKDW WKH PHUFXULDO VHUSHQW DV FKWKRQLF VSLUL WXV YHJHWDWLYXV UHSUHVHQWV WKH WUHH QXPHQ DQG DSSHDUV DV 0HOXVLQD WKDW WKH PHUFXULDO VHUSHQW LV WKH DUFDQH VXEn VWDQFH WKDW WUDQVIRUPV LWVHOI LQVLGH WKH WUHH DQG WKXV FRQn VWLWXWHV LWV OLIH DQG WKDW WKH GLYLVLRQ RI WKH WUHH VRXO LQWR D PDVFXOLQH DQG IHPLQLQH FRUUHVSRQGV WR WKH DOn FKHPLFDO 0HUFXULXV DV WKH OLIH SULQFLSOH RI WKH WUHH IRU DV DQ KHUPDSKURGLWH KH LV GXSOH[ +2 :H FDQ VHH WKDW 5HG FURVVH E\ GHIHDWLQJ WKH 0HOXVLQD KDV GLPLQLVKHG WKH XQn FRQVFLRXVQHVV V\PEROL]HG E\ WKH GDUNVRPH KROH WR WKH SUHn VHQW OHYHO RI FDOP VKDGRZ FDVW E\ WKH WZR JRRGO\ WUHHV 6LQFH 5HGFURVVH KDV D QHJDWLYH UHODWLRQVKLS ZLWK WKH $QLPD KH DQG WKH /DG\ LQ VFDUORW UHG ZKRVH ZKRUHGRP LQFLn GHQWDOO\ UHIOHFWV WKH IDFW WKDW WKH XQFRQVFLRXV LV SUHn VHQWO\ SURVWLWXWLQJ LWVHOI WR WKH HJRFHQWULFLW\ RI WKH FRQn VFLRXV PLQGf PXVW WDNH FRYHU LQ WKLV VKDGRZ IRU 'XHVVD DV GDUN VLGH RI WKH PRRQ FDQQRW EHDU WKH GLUHFW UD\V RI WKH VXQ 3KRHEXVn EHDPH VR VFRUFKLQJ FUXHOO KRW LV VXFK WKDW WKH 5HGFURVVH .QLJKWnV QHZ /DG\ LW HQGXUHG QRW 2Q DQRWKHU OHYHO ZH FDQ YLVXDOL]H WKLV ILHUFH KHDW DV V\Pn EROLF RI WKH UHDFWLRQ RFFXUULQJ LQ WKH DOFKHPLFDO YHVVHO :H ZLOO UHFDOO WKDW DV 5HGFURVVH DSSURDFKHG WKH 0HOXVLQDnV GHQ WR HQJDJH LQ KLV ILUVW EDWWOH KH ZDV KLPVHOI IXOO RI ILUH ,[LYf 7KLV WLPH WKH ILHUFH KHDW LV DWWULEXWHG WR 3KRHEXV WKRXJK WKH VRXUFH LV VWLOO 5HGFURVVH IRU 3KRHEXV LV D V\QRQ\P IRU WKH DOFKHPLFDO 6RO WKURXJK ZKRVH

PAGE 174

VXOSKXURXVQHVV RU SV\FKRORJLFDOO\ ZLOO DQG GHWHUPLn QDWLRQ WKH GLVWLOODWLRQ LV DFFRPSOLVKHG 2QH RI WKH PRUH VWXQQLQJ VFHQHV IURP DQ DOFKHPLFDO SRLQW RI YLHZ LV WKLV RQH ZKLFK PD\ EH GHVFULEHG DV 6RO DQG /XQD EHQHDWK WKH VXQ DQG PRRQ WUHHV DQG LV D PRWLI IUHTXHQWO\ WKH VXEn MHFW RI LOOXVWUDWLYH HWFKLQJV RU ZRRGFXWV LQ DOFKHPLFDO OLWHUDWXUH+, +HUH ZKHQ 5HGFURVVH WULHV RI EUDXQFKHV JUHHQH WR IUDPH $ JLUORQG IRU KLV ODG\ RQO\ WR GLVFRYHU WKDW 6PDOO GURSV RI JRU\ EORXG WULFNOHG GRZQH WKH EURNHQ ERXJK KH LV FRQIURQWHG ZLWK DQ LQVLJKW SUHVHQWO\ WRR GHHS IRU KLP WR JUDVS LQ RUGHU WR KRQRU ZKDW 'XHVVD VWDQGV IRU KH PXVW LQMXUH D SDUW RI KLPVHOI 7KLV FRQn IRUPV WR ZKDW -XQJ GHVFULEHV DV WKH DOFKHPLFDO PRWLI RI WRUWXUH 7KLV PRWLI DSSHDUV LQ WKH :HVWHUQ WH[WVLQ LQYHUVH IRUP WKH WRUPHQWHG RQH EHLQJ QRW WKH DUWLIH[ EXW 0HUFXULXV RU WKH ODSLV RU WUHH 7KH UHYHUVDO RI UROHV VKRZV WKDW WKH DUWLIH[ LPDJLQHV KLPVHOI WKH WRUPHQWRU ZKHUHDV LQ IDFW KH LV WKH WRUPHQWHG 7KLV EHFRPHV FOHDU WR KLP RQO\ ODWHU ZKHQ KH GLVFRYHUV WKH GDQJHU RI WKH ZRUN WR KLV FRVWV 7KH SLWHRXV \HOOLQJ YR\FH RI ZKDW ZDV RQFH D PDQ )UD GXELR QRZ D WUHH [[[LLLf RIIHUV 5HGFURVVH DQ REMHFWLYH YLHZ RI 5HGFURVVHnV RZQ VLWXDWLRQ )UDGXELR WHOOV KRZ KDYLQJ ZRQ KHU DV D SULVH PDUWLDOO [[[YLf WRRNH 'XHVVD IRU P\ 'DPH [Of 6R GRXEO\ ORXnG RI /DGLHV YQOLNH IDLUH 7KnRQH VHHPLQJ VXFK DQG RWKHU VXFK LQGHHGH 2QH GD\ LQ GRXEW FDVW IRU WR FRPSDUH :KHWKHU LQ EHDXWLHV JORULH GLG H[FHHGH $ 5RV\ JLUORQG ZDV WKH YLFWRUV PHHGH %RWK VHHPGH WR ZLQ DQG ERWK VHHPGH ZRQ WR EHH 6R KDUG WKH GLVFRUG ZDV WR EH DJUHHGH

PAGE 175

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f 7KH GLOHPPD RI DQ\ PDQ ZKR FXOWLYDWHV WKH $QLPD LV WKDW E\ GHILQLWLRQ KH ZLOO EH GRXEO\ ORXnG RI /DGLHV YQOLNH IDLUH $OFKHP\ ZLWK LWV WKHRU\ RI SRODU RSSRVLWHV DV UHYHDOHG IRU H[DPSOH LQ WKH FRQFHSW RI /XQD DV HQFRPSDVn VLQJ VLPXOWDQHRXVO\ WKH EULJKW DV ZHOO DV GDUN VLGHV RI WKH PRRQ KHOSV GHYHORS D TXDOLW\ RI PLQG WKDW GRHV GHILQLWHO\ SRLQW LQ WKH GLUHFWLRQ RI ZLVGRP IRU LW UHTXLUHV WKH DGHSW WR WKLQN LQ SDUDGR[HV DQ DELOLW\ ZKLFK DV -XQJ KDV REn VHUYHG LV FKDUDFWHULVWLF RI RQO\ WKH ILQHVW LQWHOOHFWV+ 7KRXJK 8QD RU )UDHOLVVDf LV SRVLWLYH DQG WKHUHIRUH DVVRFLn DWHG ZLWK JRRG DQG 'XHVVD RU )LGHVVDf LV QHJDWLYH DQG DVVRFLDWHG ZLWK HYLO ERWK DV /XQD RU SV\FKRORJLFDOO\ DV WKH SHUVRQLILFDWLRQ RI WKH XQFRQVFLRXV DUH WUXH DQG $ ERWK PXVW XOWLPDWHO\ EH UHFRJQL]HG DQG DFFHSWHG )UDGXELR

PAGE 176

XQVDWLVILHG ZLWK D FRQGLWLRQ RI HTXLOLEULXP EHWZHHQ SRODU RSSRVLWHV DV V\PEROL]HG E\ WKH WZR /DGLHV KDV VHW XS D FRQWHVW WR GHWHUPLQH ZKLFK RQH LQ EHDXWLHV JORULH GLG H[ FHHGH DQG E\ LQYRNLQJ VXFK D RQHVLGHG FULWHULRQ KDV VXIILFLHQWO\ IDOVLILHG WKH VLWXDWLRQ DV WR VWUHQJWKHQ WKH QHJDWLYH IDFWRU D FOHDU ZDUQLQJ WKDW VHOIGHFHSWLRQ WKULYHV RQ RYHUVLPSOLILFDWLRQ 5HGFURVVH RI FRXUVH KDV PDGH WKH VDPH PLVWDNH HYHQ LQ WKH DWWHPSW WR IDVKLRQ D JLUORQG IRU 'XHVVD DV KDG )UDGXELR LQ ZKRVH FRQWHVW $ 5RV\ JLUORQG ZDV WKH YLFWRUV PHHGH RU LQ KLV RZQ VHSDUDWLRQ IURP 8QD ZKLFK LV H[SUHVVHG LQ )UDGXELRnV VHSDn UDWLRQ IURP )UDHOLVVD LQ WKH SDUDOOHO EHWZHHQ $UFKLPDJRnV UHVWUDLQLQJ KLP IURP VOD\LQJ WKH IDOVH 8QD DQG 'XHVVDnV FRUUHVSRQGLQJ UHVWUDLQW RI )UDGXELR 7KHUH LV KRZHYHU RQH YHU\ FUXFLDO GLIIHUHQFH 5HGFURVVHnV VLWXDWLRQ KDV QRW \HW FXOPLQDWHG LQ WKH WUHHOLNH GHJUHH RI XQFRQVFLRXVQHVV ZKLFK LQ WKH IRUP RI 'XHVVDnV VSHOO KDV IDOOHQ RYHU )UDn GXELR ,W LV D PXFKTXRWHG VD\LQJ LQ DOFKHP\ WKDW RQH ERRN RSHQV DQRWKHU WKH WKHRUHWLFDO SDUW RI DOFKHP\ FRQVLVWV RI FRXQWOHVV SDUDEOHV GUHDPV DQG V\PEROLF GHVn FULSWLRQV ZKLFK PXVW EH SRXUHG RYHU DQG OLNH KRO\ 6FULSn WXUH LQZDUGO\ GLJHVWHG XQWLO WKH DGHSW LV DEOH WR JUDVS WKH XQGHUO\LQJ VSLULWXDO PHDQLQJ )UDGXELRnV VLWXDWLRQ FDQ WKHUHIRUH EH XVHG DV D FRPPHQWDU\ RQ 5HGFURVVHnV H[DFWO\ LQ WKH PDQQHU RI D SDLU RI DOFKHPLFDO SDUDEOHV ,Q WKH GLIIHUHQFHV DQG VLPLODULWLHV LQ WKH GLIIHUHQW VHTXHQFHV RI HYHQWV FOXHV ZLOO EH KLGGHQ ZKLFK LI VRUWHG RXW ZLOO

PAGE 177

SURYLGH D VROXWLRQ WR WKH ULGGOH )RU WKH DGHSW WKH PRVW XUJHQW SUREOHP DW WKLV VWDJH RI WKH RSXV DOFK\PLFXP LV WR XQGHUVWDQG WKH QDWXUH RI )UDGXELRn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nG GHFD\ VDZ EHIRUH PLQH H\HV LI ZHUH NQRZQH WR VWUD\ 7KH GLXHOLVK KDJ E\ FKDXQJHV RI P\ FKHDUH 3HUFHLXnG P\ WKRXJKW DQG GURZQG LQ VOHHSLH QLJKW :LWK ZLFNHG KHUEHV DQG RLQWPHQWV GLG EHVPHDUH 0\ ERGLH DOO WKURXJK FKDUPHV DQG PDJLFNH PLJKW 7KDW DOO P\ VHQVHV ZHUH EHUHDXHG TXLJKW 7KHQ EURXJKW VKH PH LQWR WKLV GHVHUW ZDVWH $QG E\ P\ ZUHWFKHG ORXHUV VLGH PH SLJKW :KHUH QRZ HQFORVG LQ ZRRGHQ ZDOV IXOO IDVWH %DQLVKW IURP OLXLQJ :LJKWV RXU ZHDULH GD\HV ZH ZDVWH [O[OLLf )UDGXELRnV JOLPSVH RI 'XHVVD LQ KHU SURSHU KHZ DV $ ILOWK\ IRXOH ROG ZRPDQ ZLWK +HU QHDWKHU SDUWHV PLVVKDSHQ PRQVWURXV ZKLFK GLG VHHPH PRUH IRXOH DQG KLGHRXV 7KHQ ZRPDQV VKDSH EULQJV XV EDFN WR WKH EHJLQQLQJ RI &DQWR ZKHUH 5HGFURVVH HQFRXQWHUV WKH 0HOXVLQD +DOI OLNH D VHUSHQW KRUULEO\ GLVSODLGH %XW WKnRWKHU KDOIH GLG ZRPDQV VKDSH UHWDLQH 0RVW ORWKVRP ILOWKLH IRXOH DQG IXOO RI

PAGE 178

r YLOH GLVGDLQH ,[LYf )UDGXELRnV UHDFWLRQ VLJQLILFDQWO\ LV YHU\ GLIIHUHQW IURP 5HGFURVVHnV 5HGFURVVH KDV KDG WKH FRXUDJH WR FRQIURQW WKH PRQVWHU GLUHFWO\ LQ KHU YHU\ GHQ DQG LQ WKH HQVXLQJ VWUXJJOH KDV SUHYDLOHG )UDGXELR RQ WKH RWKHU KDQG KDV DWWHPSWHG WR VOLS DZD\ 6RRQH DV DSSHDUG VDIH RSRUWXQLWLH DQG LW ZDV LQ UHVSRQVH WR WKLV WKDW 'XHVVD FDXVHG KLP WR EH VR GURZQG LQ VOHHSLH QLJKW WKDW DOO KLV VHQVHV ZHUH EHUHDXHG TXLJKW +HUH WKHQ LV WKH PLVn WDNH WKDW GRRPHG )UDGXELR DQG KLV ODG\ WR EH EDQLVKHG LQWR WKLV GHVHUW ZDVWH ZKHUH WKH\ DUH HQFORVG LQ ZRRGHQ ZDOV IXOO IDVWH KLV PLVWDNH LW VKRXOG EH SRLQWHG RXW LV WKDW RI 8QDn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n WLYHO\ EDQLVKHG DV LI LW KDG EHHQ KLGGHQ LQVLGH D WUHH RU ORFNHG XS LQ D EUDVHQ &DVWOH 7KH UHSUHVVHG SHUVRQ GHn SULYHV KLPVHOI RI WKH SRVVLELOLW\ RI VSLULWXDO GHYHORSn PHQW EHFDXVH E\ O\LQJ WR KLPVHOI KH VWLIOHV WKH SURFHVV RI LQGLYLGXDWLRQ DQG ZKDW LV ZRUVH WKLV VXJJHVWV WKDW WKH GHJUHH WR ZKLFK D SHUVRQ KDV UHSUHVVHG

PAGE 179

VHOINQRZOHGJH LV WKH GHJUHH WR ZKLFK IURP D SV\FKRORJLFDO SRLQW RI YLHZ KH PD\ EH VDLG WR EHORQJ WR WKH 'HYLO 7KLV LGHD LV H[SUHVVHG YHU\ ZHOO LQ & 6 /HZLVn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f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

PAGE 180

+HU YS KH WRRNH WRR VLPSOH DQG WRR WUHZ $QG RIW KHU NLVW $W OHQJWK DOO SDVVHG IHDUH +H VHW KHU RQ KHU VWHHGH DQG IRUZDUG IRUWK GLG EHDUH [OLLL[OYf +DG 5HGFURVVH KHHGHG )UDGXELRnV ZDUQLQJ WR IO\ DK IO\ IDU KHQFH DZD\ [[[Lf KH PLJKW QRW KDYH VWD\HG ORQJ HQRXJK WR ILQG RXW KRZ WKH VSHOO FRXOG EH EURNHQ ,Qn GHHG 5HGFURVVHnV GHVLUH WR KHOS )UDGXELR DV V\PEROL]HG E\ KLV PLQLVWHULQJ WR WKH ZRRGHQ ZRXQG LV HYLGHQFH WKDW WKH VXIILVHG IDWHV WR IRUPHU N\QG LH WKH LQVWLQFWV WKDW JXLGH WKH UHWXUQ WR WKH SUHODSVDULDQ VWDWH RI SHUn IHFWLRQf DUH VWURQJ LQ KLP DQG WKDW XOWLPDWHO\ E\ EDWKLQJ LQ WKH OLXLQJ ZHOO KH ZLOO VDYH )UDGXELR E\ VDYLQJ KLPVHOI(YHQ KLV WHQGHU UHVSHFW IRU 'XHVVD KDV D SRVLWLYH DVSHFW ZH PXVW UHPHPEHU WKDW 'XHVVD OHDGV WR 8QD DQG ZKHUH RQH LV SUHVHQW WKH RWKHU LV SUHVHQW DOVR WKRXJK RQ D GLIIHUHQW SODQH RI SHUFHSWLRQ )RU WKH PRPHQW DV ZH VKDOO VHH LQ &DQWR ,,, 5HGFURVVHnV VSLUn LWXDO GHYHORSPHQW PHDVXUHG ZLWK UHVSHFW QRW WR 'XHVVD EXW 8QD DV WKH $QLPD ILJXUH PRVW VHSDUDWH IURP WKH HJR ZLOO EH IRXQG DW D OHYHO SUHVHQWO\ V\PEROL]HG E\ WKH IDLWKIXOO OLRQ ZKLFK LV D KLJKHU GHJUHH RI FRQVFLRXVQHVV WKDQ D WUHH WKRXJK VWLOO LQVXIILFLHQW IRU D PDQ

PAGE 181

&$172 ,,, 6XPPDU\ )RUVDNHQ E\ 5HGFURVVH 8QD KDV EHHQ VHDUFKLQJ IRU KHU NQLJKW WKURXJK ZRRGV DQG ZDVWQHVVH ZKHQ VXGGHQO\ D ILHUFH /LRQ UXVKHV DW KHU 7KH EHDVW LV KRZHYHU VR GD]]OHG E\ KHU EHDXW\ WKDW LQVWHDG RI GHYRXULQJ KHU KH EHFRPHV KHU FRPSDQLRQ DQG SURWHFWRU 8QD DQG WKH /LRQ WKHQ HQFRXQWHU D UXGH ZHQFK $EHVVD ZKR FRXOG QRW KHDUH QRU VSHDN QRU XQGHUVWDQG DQG ZKR VWDUWOHG E\ b WKH XQDFFXVWRPHG VLJKW RI D /LRQ DQG D 9LUJLQ GURSV WKH SRW RI ZDWHU WKDW VKH LV FDUU\LQJ DQG UXQV KRPH 6HHNLQJ VKHOWHU IRU WKH QLJKW WKH WZR IROORZ WKH IOHHLQJ $EHVVD WR KHU GRRU :KHQ WKHLU NQRFN JRHV XQDQVZHUHG 8QDn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

PAGE 182

ZRXQGHG KLV RSSRQHQW 6DQVOR\ GLVFRYHUV WR KLV DPD]HPHQW WKDW WKH NQLJKW LV UHDOO\ WKH ROG PDQ $UFKLPDJR 7KHQ 6DQVOR\ VOD\V WKH /LRQ DQG OHDGV 8QD DZD\ DV KLV FDSWLYH $QDO\VLV DQG &RPPHQWDU\ 6SHFLILFDOO\ ZKDW ZH DUH FRQFHUQHG ZLWK LQ WKH 6HSDUDWLRQ FDQWRV RI %RRN LH &DQWRV ,,9,f LV SHU DEVFHVVXP ZKLFK LV GHILQHG LQ 5XODQGnV $OFKHPLFDO /H[LFRQ WKXV 6HSDUDWLRQ E\ 5HPRYDO LV ZKHQ SDUWV RI GLYHUVH QDWXUH EUHDN FRQMXQFWLRQ DQG GHSDUW LQ RSSRVLWH GLUHFWLRQVA ,QWHUHVWLQJO\ HQRXJK WKHUH LV D SV\FKLDWULF FRUUHODWLRQ KHUH IRU 6HSDUDWLRQ LV FRPSDUDEOH LQ LWV EDVLF SKHQRPHQRORJ\ WR FHUWDLQ W\SHV RI VFKL]RSKUHQLD ,Q KLV GLVFXVVLRQ RI WKH UHODWLRQVKLS EHWZHHQ WKH UHVSHFWLYH VWRULHV RI 8QD DQG 'XHVVD 0DXULFH (YDQV GHVFULEHV ZKDW LV LQ HIIHFW D W\SLFDOO\ VFKL]RLG SDWWHUQ 7KH WZR VWRULHV DOWHU 5HG &URVVnV VHOIGLYLVLRQ LV UHSURGXFHG E\ D GLYLn VLRQ RI VWRULHV ZKLFK JLYH D JUDSKLF LPSUHVVLRQ RI KLV ORVV RI LQQHU XQLW\ QDWH EXW DUH RI FRXUVH FRPSOHPHQWDU\ WR HDFK RWKHU IRUPLQJ WRJHWKHU WKH WRWDO DFFRXQW RI WKH PRWLYHV DQG EHKDYLRU RI WKH VDPH SHUVRQ ,Q HDFK RI WKH DOWHUQDWLQJ VWRULHV WKH DOFKHPLFDO /XQD LV VSOLW LQWR RQH RI WKH WZR RSSRVLWHV UHSUHVHQWHG UHVSHFn WLYHO\ E\ VRPH DVSHFW RI 8QD DQG 'XHVVD DQG VLPLODUO\ 6RO LV VSOLW LQWR WZR FRUUHVSRQGLQJ SDUWV RQH UHSUHVHQWLQJ VRPH DVSHFW RI WKH 6KDGRZ DQG WKH RWKHU DV FDUULHU RI WKH HJR GHVLJQDWHG VSHFLILFDOO\ DV 5HGFURVVH 7KH PDLQ SULQn FLSOH KHUH LV VLPXOWDQHLW\ D SDLU RI FRPSOHPHQWDU\ VWRULHV FRQVWLWXWHV D VLQJOH HYHQW RU VHTXHQFH RI HYHQWV H[SHULHQFHG

PAGE 183

DW WKH VDPH SRLQW LQ WLPH EXW RQ RSSRVLWH SODQHV RI DZDUHQHVV 7KHUH LV DFFRUGLQJO\ PXFK WUXWK LQ *UDKDP +RXJKnV UHPDUN WKDW 6RPH RI WKH PLVXQGHUVWDQGLQJ RI 7KH )DHULH 4XHHQH VSULQJV IURP D IDLOXUH WR UHDOL]H VXIILFL HQWO\ WKH GLIIHUHQW SODQHV RQ ZKLFK LW PRYHV :H ZLOO QRW WKLQN PLVXQGHUVWDQG WKH SRHP LI ZH EHDU LQ PLQG WKDW DOFKHPLFDO WUDQVPXWDWLRQ UHTXLUHV PXOWLSOH GLVWLOn ODWLRQV DQG WKDW FRQVHTXHQWO\ D JLYHQ HYHQW ZLOO EH GHVFULEHG VHYHUDO WLPHV HDFK GHVFULSWLRQ FRUUHVSRQGLQJ WR D GLIIHUHQW SODQH RI DZDUHQHVV ,I WKHUHIRUH ZH GHVLUH WR GHWHUPLQH WKH UHODWLYH SXULW\ RI 6RO DW DQ\ SRLQW GXULQJ WKH RSXV DOFK\LQLFXP ZH PXVW REVHUYH WKH FRQGLWLRQ DQG SHUIRUPDQFH RI 5HGFURVVH DQG KLV 6KDGRZHTXLYDOHQW VLPXOWDQHn RXVO\ DV UHJDUGV ERWK WKH DQLPD VSLULWXDOLV 8QDf DQG WKH DQLPD FRUSRUDOLV 'XHVVDf -XQJ HPSKDVL]LQJ WKDW LGHQWLW\ RI RSSRVLWHV LV D FKDUDFWHULVWLF IHDWXUH RI HYHU\ SV\FKLF HYHQW LQ WKH XQFRQVFLRXV VWDWH REVHUYHV WKDW WKH DQLPD FRUSRUDOLV LV DW WKH VDPH WLPH VSLULWXDOLV rA DFFRUGLQJO\ ZH PXVW UHPHPEHU WKDW DV 0U (YDQV FRUUHFWO\ SRLQWV RXW WKH WZR VWRULHV DUH DIWHU DOO MXVW RQH
PAGE 184

,Q VHFUHW VKDGRZ IDUUH IURP DOO PHQV VLJKW )URP KHU IDLUH KHDG KHU ILOOHW VKH YQGLJKW $QG ODLG KHU VWROH DVLGH +HU DQJHOV IDFH $V WKH JUHDW H\H RI KHDXHQ VK\QHG EULJKW $QG PDGH D VXQVKLQH LQ WKH VKDGLH SODFH 'LG QHXHU PRUWDOO H\H EHKROG VXFK KHDXHQO\ JUDFH LLLLYf )URP WKLV GHVFULSWLRQ LW LV DSSDUHQW WKDW WKH 7UXWK IURP ZKLFK 5HGFURVVH ZDV VHSDUDWHG ZKHQ KH DEDQGRQHG 8QD LV QRQH RWKHU WKDQ :LVGRP KHUVHOI ZKR LV VR LPSRUWDQW WR WKH DOn FKHPLFDO SKLORVRSKHUV WKDW WKH\ RIWHQ FDOO WKHPVHOYHV WKH VRQV RI :LVGRP 7KH VWUXJJOH RI :LVGRP WR UHDFK FRQVFLRXV UHDOL]DWLRQ LV FOHDUO\ LPSOLFLW LQ 8QDnV VHDUFK IRU 5HGn FURVVH ZKR KDV EHHQ OHG WR IRUVDNH KHU WKURXJK WKH VXEWOH PDJLF RI WKH (QFKDXQWHU HJRFHQWULFLW\f :LVGRP FDQ EH DWWDLQHG RQO\ E\ WKRVH ZKR DUH DEOH WR WUDQVFHQG WKH EDUn ULHUV RI WKH HJR WR DOO RWKHUV VKH UHPDLQV D 6ROLWDU\ PD\G IRU LQ D YHU\ UHDO VHQVH KHU XVXDO FRQGLWLRQ LV WR EH )DUUH IURP DOO SHRSOHV SUHDVH DV LQ H[LOH ,I DV LQ WKH SUHVHQW VLWXDWLRQ VKH GRHV VWUD\ LQWR WKH ZLOGHUQHVVH DQG ZDVWIXOO GHVHUWV RI WKH FRQVFLRXV PLQG LW LV OLNHO\ WKDW VKH ZLOO EH PLVXQGHUVWRRG DQG KHU NQLJKW OLNH 5HGFURVVH ZLOO WXUQ DQG IOHH IURP KHU LQ FRQIXVLRQ %XULHG LQ WKH GDUNHVW GHSWKV RI WKH XQFRQ VFLRXV :LVGRP LV LQGHHG ,Q VHFUHW VKDGRZ IDUUH IURP DOO PHQV VLJKW EXW IRU KLP ZKR EHFRPHV SURSHUO\ DZDUH RI KHU VKH ZLOO PDNH D VXQVKLQH LQ WKH VKDGLH SODFH 5HDOL]LQJ WKDW 6SHQVHUnV 8QD FRQIRUPV JHQHUDOO\ WR WKH DOFKHPLFDO FRQFHSWLRQ RI :LVGRP ZH FDQ SHUKDSV EHJLQ WR XQGHUVWDQG

PAGE 185

} ZKDW LV EHKLQG WKH RWKHUZLVH SX]]OLQJ LGHD RI 0LOWRQn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n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nV VHSDUDWLRQ IURP 5HGFURVVH

PAGE 186

7KH FHQWUDO FRQFHUQ RI &DQWR ,,, LV RI FRXUVH WKH VWRU\ RI 8QDnV IDLWKIXO OLRQ 6FKRODUV KDYH UHFRJQL]HG WKDW WKH OLRQ UHSUHVHQWV DQ DVSHFW RI 5HGFURVVH $UWKXU ) 0RURWWL IRU H[DPSOH PDNHV WKH SRLQW WKXV ZH DUH PHDQW LQ WKLV HSLVRGH WR PHDVXUH >5HG FURVVHnV@ IDLOLQJV E\ WKH DFWLRQV ZKLFK RFFXU WR VHH WKH OLRQ LQ D VHULHV RI V\PEROLF UROHV DQG UHFRJQL]H WKDW LQ D UHDO VHQVH WKH\ EHORQJ WR WKH ERRNnV KHUR ,Q DOFKHP\ WKH OLRQ KDV D YHU\ LPSRUWDQW IXQFWLRQ &RQn FHUQLQJ LWV SV\FKRORJLFDO LPSOLFDWLRQV -XQJ VWDWHV WKXV .H LV WKH ZDUPEORRGHG ,Q DOFKHP\ WKH OLRQ WKH UR\DO EHDVW LV D V\QRQ\P IRU 0HUFXULXV RU WR EH PRUH D VWDJH LQ KLV WUDQVIRUPDWLRQ IRUP RI WKH GHYRXULQJ SUHGDWRU\ PRQVWHU ZKR ILUVW WKH GUDJRQ 8VXDOO\ WKH OLRQ IRUP VXFFHHGV WKH GUDJRQnV GHDWK DQG HYHQWXDO GLVPHPEHUPHQW 7KLV LQ WXUQ LV IROORZHG E\ WKH HDJOH 7KH NLQJ RI WKH ROG NLQJDW D VWDJH RI UHQHZDO $W WKH VDPH WLPH KH WKH NLQJ LQ KLV WKHULRPRUSKLF IRUP WKDW LV DV KH LQ KLV XQFRQVFLRXV VWDWH 7KH DQLPDO IRUP ,, HPSKDVL]HV WKDW WKH NLQJ LV RYHUSRZHUHG RU RYHUODLG E\ KLV DQLPDO VLGH DQG FRQVHTXHQWO\ H[SUHVVHV KLPVHOI RQO\ LQ DQLPDO UHDFWLRQV ZKLFK DUH QRWKLQJ EXW HPRn WLRQV $FFRUGLQJ WR WKH VWDWHPHQWV RI WKH DOFKHn PLVWV WKH NLQJ FKDQJHV LQWR KLV DQLPDO DWWULEXWH WKDW LV WR VD\ KH UHWXUQV WR KLV DQLPDO QDWXUH WKH SV\FKLF VRXUFH RI UHQHZDO :LWK WKLV LQ PLQG OHW XV FRQVLGHU 6SHQVHUnV SRUWUD\DO ,W IRUWXQHG RXW RI WKH WKLFNHVW ZRRG $ UDPSLQJ /\RQ UXVKHG VXGGDLQO\ +XQWLQJ IXOO JUHHGLH DIWHU VDOXDJH EORRG 6RRQH DV WKH UR\DOO YLUJLQ KH GLG VS\ :LWK JDSLQJ PRXWK DW KHU UDQ JUHHGLO\ 7R KDXH DWWRQFH GHXRXUnG KHU WHQGHU FRUVH %XW WR WKH SUD\ ZKHQ DV KH GUHZ PRUH Q\ +LV EORXGLH UDJH DVVZDJHG ZLWK UHPRUVH $QG ZLWK WKH VLJKW DPD]G IRUJDW KLV IXULRXV IRUVH ,QVWHDG WKHUHRI KH NLVW KHU ZHDULH IHHW $QG OLFNW KHU OLOO\ KDQGV ZLWK IDZQLQJ WRQJ

PAGE 187

$V KH KHU ZURQJHG LQQRFHQFH GLG ZHHW YYLf 7KLV HSLVRGH GHSLFWV WKH XQFRQVFLRXV DVSHFW RI DQ HYHQW WKDW KDV SUHYLRXVO\ EHHQ GHVFULEHG IURP WKH YDQWDJH SRLQW RI HJRFRQVFLRXVQHVV :H ZLOO UHFDOO WKDW LQ &DQWR ,, ZKHQ 5HGFURVVH ILUVW FDXJKW VLJKW RI WKDW IDOVH FRXSOH LQ OHZG HUDEUDFHPHQW KLV MHDORXV\ ZDV VXFK WKDW 7KH H\H RI UHDVRQ ZDV ZLWK UDJH \EOHQW DQG KH ZRXOG KDYH VODLQH WKHP LQ KLV IXULRXV LUH ,,Yf KDG QRW $UFKLPDJR LQWHUn YHQHG :KDW 0DXULFH (YDQV ZLWK UHIHUHQFH WR WKH HSLVRGH LQ &DQWR ,,f GHVFULEHV DV 5HGFURVVH QRZ ZKROO\ LQ WKH JULS RI DQJU\ SDVVLRQ LQVWHDG RI XQGHU WKH JRYHUQPHQW RI XQGHU VWDQGLQJ SV SQ FDQWR ,,, GHVFULEHG VROHO\ LQ WHUPV RI WKH LUUDWLRQDO HPRWLRQDOLW\ WKDW FRUUHVSRQGV WR WKH DQLPDO VWDJH RI WKH WUDQVIRUPDWLRQ RI 5HGFURVVHnV XQFRQVFLRXV WKH OLRQ ZKLFK :LWK JDSLQJ PRXWK DW KHU UDQ JUHHGLO\ 7R KDXH DWWRQFH GHXRXUnG KHU WHQGHU FRUVH 5HGFURVVHnV HPRWLRQDn OLW\ EHLQJ PRUH WKDW RI DQ DQLPDO WKDQ D PDQ VR UHSUHn VHQWV WKH HJR RYHUODLG ZLWK DQLPDOLW\ WKDW WKH WZR GHVn FULSWLRQV DUH LQ IDFW HQWLUHO\ FRQJUXHQW %XW LW LV SUHn FLVHO\ DW WKLV SRLQW WKDW $UFKLPDJR GLYLGHV 5HGFURVVH LQWR GRXEOH SDUWV WKH FULVLV FDXVHV D SV\FKLF VSOLW WKDW VHSDUDWHV HJRFRQVFLRXVQHVV IURP WKH XQFRQVFLRXV DQG VHQGV HDFK SDUW ZDQGHULQJ LQ VHSDUDWH GLUHFWLRQV $W WKH YHU\ LQVWDQW WKDW 5HGFURVVH ZDV UHVWUHLQHG RI WKH DJHG VLUH WKH OLRQ WRR ZDV UHVWUDLQHG E\ D VXGGHQ FKDQJH RI PRRG KH IHOW KLV EORXGLH UDJH DVVZDJHG ZLWK UHPRUVH $QG ZLWK WKH

PAGE 188

VLJKW DPD]HG IRUJDW KLV IXULRXV IRUVH %HFDXVH 5HGFURVVH LV XQDEOH WR VHH WKH $QLPD DV VLPXOWDQHRXVO\ JRRG DQG EDG VKH KDV EHHQ VLPSOLILHG FRQVHTXHQWO\ KHU SRVLWLYH DVSHFW EHLQJ IDUWKHVW IURP WKH HJRf KDV EHHQ VHSDUDWHG IURP FRQ VFLRXVQHVVf§KHQFH 8QD ,Q ZLOGHUQHVVH DQG ZDVWHIXO GHVHUWV VWUD\G 7KH OLRQ LV WKDW SDUW RI 5HGFURVVH ZKLFK FDQ UHn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f WKH HJR LQ VHUYLQJ KHU LV PDQLIHVWO\ VHUYLQJ LWVHOI 1HYHUWKHOHVV EHFDXVH WKHUH VWLOO UHPDLQV LQ 5HGFURVVH D VLQFHUH DQG JHQXLQH GHYRWLRQ WR :LVGRP WKH OLRQ QRZ EXULHG LQ WKH XQFRQVFLRXV DQG ZHOO RXW RI UHDFK RI 5HGFURVVHnV FRQVFLRXV GLVLOOXVLRQPHQW UHYHUHQWO\ OLFNW KHU OLOO\ KDQGV ZLWK IDZQLQJ WRQJ $V KH KHU ZURQJHG LQQRFHQFH GLG ZHHW

PAGE 189

6WLOO GUHDGLQJ GHDWK ZKHQ VKH KDG PDUNHG ORQJ +HU KDUW JDQ PHOW LQ JUHDW FRPSDVVLRQ $QG GUL]OLQJ WHDUHV GLG VKHG IRU SXUH DIIHFWLRQ 7KH /\RQ /RUG RI HXHU\ EHDVW LQ ILHOG 4XRWK VKH KLV SULQFHO\ SXLVVDQFH GRWK DEDWH $QG PLJKWLH SURXG WR KXPEOH ZHDNH GRHV \LHOG )RUJHWIXOO RI WKH KXQJU\ UDJH ZKLFK ODWH +LP SULFNW LQ SLWWLH RI P\ VDG HVWDWH %XW KH P\ /\RQ DQG P\ QREOH /RUG +RZ GRHV KH ILQG LQ FUXHOO KDUW WR KDWH +HU WKDW KLP ORXnG DQG HXHU PRVW DGRUG $V WKH *RG RI P\ OLIH" ZK\ KDWK KH PH DEKRUG" 5HGRXQGLQJ WHDUHV GLG FKRNH WKn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f 8QDnV YRZ RI ORYH IRU WKH OLRQ LV OLNHZLVH D QHZ GLPHQVLRQ RI DQ HYHQW WKDW KDV RFFXUUHG SUHYLRXVO\ LQ &DQWR ZKHQ WKH IDOVH 8QD ZKR LW VKRXOG EH XQGHUVWRRG LV IDOVH RQO\ LQVRIDU DV VKH LV WKH QHJDWLYH $QLPD PDVTXHUDGLQJ DV KHU SRVLWLYH FRXQWHUSDUWf PDGH D GHFODUDWLRQ RI ORYH WR 5HG FURVVH :H ZLOO UHFDOO WKDW OLNH 8QD VWLOO GUHDGLQJ GHDWK IURP WKH OLRQ VKH WHOOV 5HGFURVVH WKDW 'LH LV P\

PAGE 190

GHZ DQG WKHQ GHFODUHV WKDW KH LV LXGJH RI P\ OLIH RU GHDWK LQGLIIHUHQWO\ ,OLf ZKLFK LV OLWHUDOO\ WUXH VLQFH FRQVFLRXVQHVV GHWHUPLQHV ZKHWKHU FRQWHQWV IURP WKH XQFRQn VFLRXV DUH WR OLYH RU GLHf§LH ZKHWKHU RU QRW WKH\ DUH WR EH LQWHJUDWHG LQWR FRQVFLRXVQHVV 7KH IDOVH 8QD WKHQ FRQn IHVVHV WR 5HGFURVVH WKDW /RXH RI \RXU VHOIH ILOOV KHU ZLWK VHFUHW DQJXLVK DQG YQSLWWLHG SODLQW ,OLLLf 6LQFH 8QD LV :LVGRP DQG UHSUHVHQWV WUDQVFHQGHQW VSLULWXDOLW\ VKH LV DW WKLV SRLQW VXIILFLHQWO\ GLVWDQW IURP WKH HJR DV WR EH XQFRQWDPLQDWHG ZLWK WKH HURWLFLVP ZKLFK FKDUDFWHUL]HV 5HGFURVVHnV UHDFWLRQ WR WKH IDOVH 8QD RU 'XHVVD ,W VKRXOG EH QRWLFHG WKDW WKH OLRQnV GHYRWLRQ WR 8QDf§VR LQ FRQWUDVW WR KHU DEDQGRQPHQW E\ 5HGFURVVHf§KDV D FRPSHQVDWRU\ UHn ODWLRQVKLS WR 5HGFURVVHnV FRPSDUDEOH GHYRWLRQ WR 'XHVVD 8QD FDQ ZHOO DGGUHVV WKH IDLWKIXO EHDVW DV KH P\ /\RQ DQG P\ QREOH /RUG IRU LQGHHG WKH OLRQ LV DOO WKDW LV OHIW WR KHU RI 5HGFURVVH 8QDnV GHYRWLRQ WR KHU /RUG KHU UHIn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nG DQG IRRUWK KLV VZHUG KH GUDZHV

PAGE 191

WKHQ WRR ZHDNH DQG IHHEOH ZDV WKH IRUVH 2I VDOXDJH EHDVW KLV SXLVVDQFH WR ZLWKVWDQG )RU KH ZDV VWURQJ DQG RI VR PLJKWLH FRUVH $V HXHU ZLHOGHG VSHDUH LQ ZDUOLNH KDQG $QG IHDWHV RI DUPHV GLG ZLVHO\ YQGHUVWDQG (IWVRRQHV KH SHUFHG WKURXJK KLV FKDXIHG FKHVW :LWK WKULOOLQJ SRLQW RI GHDGO\ \URQ EUDQG $QG ODXQFKW KLV /RUGO\ KDUW ZLWK GHDWK RSSUHVW +H URDUnG DORXG ZKLOHV OLIH IRUVRRNH KLV VWXEERUQH EUHVW :KR QRZ LV OHIW WR NHHSH WKH IRUORUQH PDLG )URP UDJLQJ VSRLOH RI ODZOHVVH YLFWRUV ZLOOn +HU IDLWKIXOO JDUG UHPRXnG KHU KRSH GLVPDLG +HU VHOIH D \HHOGHG SUD\ WR VDXH RU VSLOO +H QRZ /RUG RI WKH ILHOG KLV SULGH WR ILOO :LWK IRXOH UHSURFKHV DQG GLVGDLQIXOO VSLJKW +HU YLOGO\ HQWHUWDLQHV DQG ZLOO RU QLOO %HDUHV KHU DZD\ YSRQ KLV FRXUVHU OLJKW +HU SUD\HUV QRXJKW SUHXDLOH KLV UDJH LV PRUH RI PLJKW [OL[OLLLf 7KLV EDWWOH EHWZHHQ 6DQVOR\ DQG WKH OLRQ FRUUHVSRQGV WR WKH WUDGLWLRQDO FRQIURQWDWLRQ EHWZHHQ XQLFRUQ DQG OLRQ -XQJ SRLQWLQJ RXW WKDW WKHUH LV PXFK FRQWDPLQDWLRQ EHWZHHQ WKH WZR ILJXUHV GLVWLQJXLVKHV WKHLU VLJQLILFDQFH WKXV /LRQ DQG XQLFRUQ VWDQG IRU WKH LQQHU WHQVLRQ RI RSSRVLWHV LQ 0HUFXULXV 7KH OLRQ EHLQJ D GDQn JHURXV DQLPDO LV DNLQ WR WKH GUDJRQ WKH GUDJRQ PXVW EH VODLQ DQG WKH OLRQ DW OHDVW KDYH KLV SDZV FXW RII 7KH XQLFRUQ WRR PXVW EH WDPHG DV D PRQn VWHU KH KDV D KLJKHU V\PEROLFDO VLJQLILFDQFH DQG LV RI D PRUH VSLULWXDO QDWXUH WKDQ WKH OLRQ EXW DV 5LSOH\ VKRZV WKH OLRQ FDQ VRPHWLPHV WDNH WKH SODFH RI WKH XQLFRUQ ,Q 6SHQVHU LW LV DSSDUHQW WKDW 6DQVOR\ WDNHV WKH SODFH RI WKH XQLFRUQ $V WKH WH[WV LQGLFDWH LW LV FRPPRQ IRU WKH XQLFRUQLQ WKLV FDVH 6DQVOR\ DV 8QDnV EHDVWO\ IRH [OLYf f§ WR VOD\ WKH OLRQr 7KH OLPLWDWLRQV RI WKH VWDJH RI GHn YHORSPHQW ZKLFK WKH OLRQ UHSUHVHQWV DUH SDLQIXOO\ DSSDUHQW

PAGE 192

LQ WKH HSLVRGH ZLWK .LUNUDSLQH 0U (YDQVn FRPPHQW LV LQn GLFDWLYH 8QDILQGV KHUVHOI FDUULHG DORQJ E\ WKH UDPSLQJ OLRQ DQG WKRXJK KHU YLUJLQLW\ ERWK UR\DO DQG KHDYHQO\ FDQ WDPH LW LWV GHYRWLRQ LV EOLQG DV ZHOO DV EHQHYROHQW DQG WKH GHVWUXFWLRQ RI .LUNUDSLQH KRZHYHU MXVWLILHG LV DQ DFW QRW RI UHDVRQ EXW RI EOLQG ]HDO )XUWKHUPRUH ZKLOH WKH OLRQ LV RIWHQ FKDUDFWHUL]HG E\ DW OHDVW LPSOLFLW HURWLFLVP WKH XQLFRUQ ZLWK LWV REYLRXV SKDOOLFLVPf LV LQYDULDEO\ VH[XDO ZKLFK LV LQ NHHSLQJ ZLWK 6DQVOR\nV GHVLJQDWLRQ DV ODZOHVV OXVW 0RUHRYHU 6DQV OR\nV IRXOH UHSURFKHV DQG GLVGDLQIXOO VSLJKW UHIOHSWV WKH XQLFRUQnV UHSXWDWLRQ IRU EHLQJ HYLOO\ GLVSRVHG WRZDUG PDQ LQGHHG WKH HIIHFW RI VLPXOWDQHLW\ RU WR XVH WKH DOFKHPLFDO H[SUHVVLRQ FLUFXODU GLVWLOODWLRQ LV HYLn GHQW WKURXJKRXW WKH HQWLUH HSLVRGH RQ RQH OHYHO 6DQVn OR\nV OXVW GLG QRZ LQIODPH KLV &RUDJH DQG DV KH FDUULHV 8QD RII KH LV HQUDJnG ZLWK UDQFRU [OLYf RQ D VHFRQG OHYHO WKH OLRQ EHIRUH KLV UDJH ZDV DVVZDJHG ZLWK UHPRUVH Yf DQG RQ D WKLUG OHYHO 5HGFURVVH ILOOHG ZLWK OXVW DQG UDJH DW WKH VLJKW RI WKH IDOVH 8QD :KHQ 6DQVOR\ FKDOn OHQJHV $UFKLPDJR ZKR KDSSHQV WR EH GLVJXLVHG DV 5HGFURVVH RI ZKRP KH LV WKH 6KDGRZf WR D MRXVW WKLV LOOXVWUDWHV WKH SULQFLSOH RQFH DJDLQ $UFKLPDJR DQG 6DQVOR\ DUH DV PXFK RI RQH VXEVWDQFH DV DUH 5HGFURVVH DQG )UDGXELR WKXV ZKHQ WKH HYLO PDJLFLDQ WRPEOLQJ UXGHO\ GRZQH WR JURXQG GLG UXVK $QG IURP KLV JRUHG ZRXQG D ZHOO RI EORXG GLG JXVK [[[Yf WKH GLVWLOODWLRQ KDV UHWXUQHG XV RQFH PRUH WR )UD

PAGE 193

GXELRnV EOHHGLQJ ERXJK DQG WKH DOFKHPLFDO PRWLI RI WRUn WXUH ,QGHHG DV WKH FRQWHQWV RI WKH KHUPHWLFDOO\ VHDOHG DOFKHPLFDO UHWRUW DUH KHDWHG DQG FDUULHG WR WKH WRS RI WKH YHVVHO DQG WKHQ FRQGHQVLQJ IDOO EDFN GRZQ DJDLQ ZH FDQ XQGHUVWDQG WKH VWUXFWXUDO SULQFLSOH ZKLFK UHTXLUHV IRU H[DPSOH WKDW WKH 8QD/\RQ6DQVOR\ HSLVRGH PXVW HQG DV WKH 'XHVVD5HGFURVVH6DQVIR\ HSLVRGH EHJLQV 8QD WDNHQ DJDLQVW KHU ZLOO IURP KHU /RUG WKH OLRQf E\ 6DQVOR\ ZKR ZLOO EH GULYHQ RII E\ 6DW\UDQH LQ &DQWR 9,f DQG 'XHVVD WDNHQ DJDLQVW KHU ZLOO IURP KHU /RUG WKH JUHDW 3ULQFHf E\ 6DQV IR\ YKR LV WKHQ GHIHDWHG E\ 5HGFURVVHff§WKLV LV WKH FLUn FXODU GLVWLOODWLRQ ZKLFK OLNH WKH RSXV LWVHOI LV D UXQQLQJ ZLWKRXW UXQQLQJ PRYLQJ ZLWKRXW PRWLRQ &$172 ,9 6XPPDU\ 5HGFURVVH DQG 'XHVVD PDNH WKHLU ZD\ WR WKH +RXVH RI ‘ 3ULGH ZKHUH PDQ\ KDYH HQWHUHG %XW IHZ UHWXUQHG 7KH /DG\ RI WKH +RXVH LV /XFLIHUD ZKR VLWV ZLWK D GUDJRQ DW KHU IHHW DGPLULQJ KHUVHOI LQ D PLUURU 9DQLWLH EULQJV 5HGFURVVH DQG 'XHVVD WR WKH ORZHVW VWDLU RI KHU WKURQH ZKHUH WKH\ PDNH REHLVDQFH 7KHQ /XFLIHUD DV 3ULGH FDOOV IRU KHU FRDFK ZKLFK LV GUDZQ E\ VL[ XQHTXDOO EHDVWV RQ ZKLFK KHU VL[ FRXQVHORUV VLW ,GOHQHVVH RQ DU DVV *OXWWRQ\ RQ D VZLQH /HFKHU\ RQ D JRDW $XDULFH RQ D FDPHO (QQXLH RQ D ZROI DQG :UDWK RQ D OLRQ 7KH 6DUD]LQ 6DQV LR\ DUn ULYHV DQG FKDOOHQJHV 5HGFURVVH ZKR SOHGJHV +LV FDXVH LQ

PAGE 194

, FRPEDW WKH QH[W GD\ WR WU\ JRHV WR 6DQVOR\ DQG SURPLVHV 7KDW QLJKW 'XHVVD VHFUHWO\ WR DLG KLP DJDLQVW 5HGFURVVH $QDO\VLV DQG &RPPHQWDU\ /XFLIHUD DQG WKH +RXVH RI 3ULGH KDYH EHHQ LPSOLFLW DOO DORQJ LQ WKH DUFKHW\SH ZKLFK LV H[SUHVVHG E\ 'XHVVD LH WKH QHJDWLYH $QLPD :KDW UHVXOWV IURP WKH SUHVHQW GLVWLOn ODWLRQ LV D FOHDUHU XQGHUVWDQGLQJ RI 'XHVVDV DWWULEXWHV DV UHJDUGV HJRFRQVFLRXVQHVV 3ULGH RI ZKLFK 6SHQVHUnV /XFLIHUD LV WKH VXSUHPH HPERGLPHQW LV WKH PRVW HQFRPSDVn VLQJ RI WKH 6HYHQ 'HDGOLHV IRU 3ULGH LV SDU H[FHOOHQFH WKH VLQ RI WKH HJR +LJK DERXH DOO D FORWK RI 6WDWH ZDV VSUHG $QG D ULFK WKURQH DV EULJKW DV VXQQ\ GD\ 2Q ZKLFK WKHUH VDWH PRVW EUDXH HPEHOOLVKHG :LWK UR\DOO UREHV DQG JRUJHRXV DUUD\ $ PD\GHQ 4XHHQH WKDW VKRQH DV 7LWDQV UD\ ,Q JOLVWULQJ JROG DQG SHHUHOHVVH SUHWLRXV VWRQH
PAGE 195

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f -XVW DV 8QD :LVGRPf LV WKH XOWLPDWH H[SUHVVLRQ RI WKH SRVLWLYH $QLPD VR WKH FRUUHVSRQGLQJ H[SUHVVLRQ RI WKH QHn JDWLYH $QLPD LV /XFLIHUD 3ULGHf 6LQFH WKH LGHQWLW\ RI WKH WZR PRVW H[WUHPH RSSRVLWHV LV LQYROYHG KHUH LW LV ILWWLQJ WKDW WKLV GHVFULSWLRQ RI /XFLIHUD FORVHO\ SDUDOOHOV WKDW RI 8QD ZKRVH IDFH PDGH D VXQVKLQH LQ D VKDGLH SODFH ,,,LYf 8QOLNH 8QD ZKR LQ WKH FDSDFLW\ RI :LVGRP LV ,9 IDU IURP DOO SHRSOHV SUHDVH DV LQ H[LOH ,,,LLLf /XFLn IHUD LV RI WKLV ZRUOG DQG WKHUHIRUH KDV KHDSHV RI SHRSOH JD]LQJ XSRQ KHU IRU WKH VRODU LPDJHU\ DVVRFLDWHG ZLWK KHU VLJQLILHV PHUHO\ WKDW LW LV HJRFRQVFLRXVQHVV 6ROf WKDW QRXULVKHV KHU OLNH WKH JROGHQ IRLOH LYf WKDW FRYHUV WKH IOLPV\ ZDOOV RI /XFLIHUDnV SDODFH KHU OLJKW LV IRU DSn SHDUDQFH RQO\ DQG GRHV QRW KDYH WKH SRZHU WR LOOXPLQDWH LQWHOOHFWXDO GDUNQHVV 6XSHUILFLDOLW\ DQG IDOVHQHVV LV WKH

PAGE 196

UXOH 8SWRQ FRPPHQWLQJ RQ WKH DOOXVLRQ WR 3KRHEXV IDLUHVW FKLOGH REVHUYHV WKDW WKLV HPEOHP RI WKH ZRUOGnV YDQLW\ LV FRPSDUHG WR 3KDHWRQ WKH VXQnV IDOVH UHSUHVHQWDWLYH $V WKH IDOVH UHSUHVHQWDWLYH RI :LVGRP /XFLIHUDnV JRLQJ IRUWK LV FRPSDUHG WR WKDW RI IDLUH $XURUD LQ KHU SXUSOH SDOO ZKLFK LV KRZ :LVGRPWKH ULVLQJ GDZQf§LV SHUVRQLILHG LQ WKH $XURUD &RQVXUJHQV )URP DQ DOFKHPLFDO SRLQW RI YLHZ WKHUH LV PXFK LURQ\ LQ WKH IDFW WKDW /XFLIHUDnV FRDFK VWURXH WR PDWFK WKH JROGHQ FKDULRW 'UDZQH RI IDLUH 3H FRFNV WKDW -XQR ULGHV LQ ZKHQ VKH WUDYHOV WKURXJK KHDXHQV EUDVSDXHG ZD\ ,Q 6SOHQGRU 6ROLV DQ DOFKHPLFDO WUHDWLVH E\ 6RORPRQ 7ULVPRVLQ f WKHUH LV DQ LOOXVWUDWLRQ RI D VHDOHG UHWRUW FRQWDLQLQJ WZR ELUGV RQH EODFN DQG WKH RWKHU ZKLWH ZKLOH DERYH IO\LQJ WKURXJK WKH DLU LV WKH JROGHQ FRDFK GUDZQ E\ WZR SHDFRFNV 7KH SLFWXUH LOOXn VWUDWHV WKH IROORZLQJ WH[W 7KH +HDW LV QHFHVVDU\ EHFDXVH WKURXJK LWV SRZHU WKH HDUWK EHFRPHV IUHHG IURP GDUNQHVV DQG EOHVVHG ZLWK OLJKW LQVWHDG 7KH LPDJH RI WKH IDLUH 3HFRFNV WKDW IXOO RI $UJXV H\HV WKHLU WDLOHV GLVSUHGGHQ ZLGH LV UHSUHVHQWDWLYH RQ WKH RQH KDQG RI SULGH DQG RQ WKH RWKHU KDQG DSSURSULDWHO\ HQRXJK VLQFH /XFLIHUDnV DQWLW\SH LV 8QDf RI WKH LQQHU EHDXW\ DQG SHUIHFWLRQ RI WKH VRXO 3URSHUO\ WR DSSUHFLDWH WKH LURQ\ KHUH LW LV QHn FHVVDU\ WR XQGHUVWDQG WKDW LQ DOFKHP\ WKH SHDFRFN EULQJV DERXW DQG EHWRNHQV WKH WUDQVIRUPDWLRQ RI WKH SRLVRQRXV GUDn JRQ LQWR WKH KHDOLQJ PHGLFLQH

PAGE 197

6R SURXG VKH VK\QHG LQ KHU 3ULQFHO\ VWDWH /RRNLQJ WR KHDXHQ IRU HDUWK VKH GLG GLVGD\QH $QG VLWWLQJ KLJK IRU ORZO\ VKH GLG KDWH /R YQGHUQHDWK KHU VFRUQHIXOO IHHWH ZDV OD\QH $ GUHDGIXOO 'UDJRQ ZLWK DQ KLGHRXV WUD\QH $QG LQ KHU KDQG VKH KHOG D PLUUKRXU EULJKW :KHUHLQ KHU IDFH VKH RIWHQ YHZHG ID\QH $QG LQ KHU VHOIHORXnG VHPEODQFH WRRNH GHOLJKW )RU VKH ZDV ZRQGURXV IDLUH DV DQ\ OLXLQJ ZLJKW 2I JULHVO\ 3OXWR VKH WKH GDXJKWHU ZDV $QG VDG 3URVHUSLQD WKH 4XHHQH RI KHOO [[Lf :KDW FRQILUPV WKH IDFW WKDW /XFLIHUD DQG WKH +RXVH RI 3ULGH DUH LPSOLFLW LQ 'XHVVD DV QHJDWLYH $QLPDf LV WKH SUHVHQFH RI WKH 'UDJRQ DW /XFLIHUDnV IHHW 7KH PRQVWHU DV VKH ILUVW DSSHDUV LQ &DQWR +DOIH OLNH D VHUSHQW KRUULEO\ GLVSODLGH %XW WK RWKHU KDOIH GLG ZRPDQnV VKDSH UHWDLQH ,, ,[LYf LV QRZ VHSDUDWHG LQWR KHU WZR FRPSRQHQWV /XFLIHUD WKH KXPDQ XSSHU KDOIf DQG WKH 'UDJRQ WKH FKWKRQLF ORZHU KDOIf :H ZLOO UHFDOO WKDW LQ 'XHVVD DV VHHQ LQ &DQWR ,, E\ )UDGXELR WKH KXPDQ DQG FKWKRQLF KDOYHV DUH VLPLODUO\ SUHVHQW YHULI\LQJ WKH LGHQWLW\ EHWZHHQ 'XHVVD DQG WKH 'UDJRQ +HU QHDWKHU SDUWV PLVVKDSHQ PRQVWURXV GLG VHHPH PRUH IRXOH DQG KLGHRXV 7KHQ ZRPDQV VKDSH ,,[OLf 7KDW WKH +RXVH RI 3ULGH LV LWVHOI D PHWDPRUSKRn VLV RI 'XHVVD LV DSSDUHQW IURP WKH GHVFULSWLRQ DOO WKH KLQGHU SDUWV WKDW IHZ FRXOG VSLH :HUH UXLQRXV DQG ROG EXW SDLQWHG FXQQLQJO\ Yf ,Q WKH HPEOHP RI WKH SURFHVn VLRQ WKURXJK WKH +RXVH RI 3ULGH RI WKH GDXJKWHU RI 3OXWR DQG 3URVHUSLQD RI +HOO /XFLIHUD ULGLQJ LQ KHU FRDFK GUDZQ E\ RI WKH 'HDGO\ 6LQV ZLWK 6DWDQ YSRQ WKH

PAGE 198

ZDJRQ EHDPH ZLWK D VPDUWLQJ ZKLS LQ KDQG :LWK ZKLFK KH IRUZDUG ODVKW WKH ODHVLH WHPH [[[YLf WKH YDULRXV IDFHWV RI ZKDW 'XHVVD UHSUHVHQWV DUH SUHVHQW VLPXOWDQHRXVO\ LQ RQH VSHFWDFOH DQG OHVW DQ\RQH RYHUORRN WKH WUXH VLJQLn ILFDQFH RI 'XHVVD KHUVHOI LW LV HPSKDVL]HG WKDW (PRQJVW WKH UHVW URGH WKDW IDOVH /DG\ IDLUH 7KH IRXOH 'XHVVD QH[W YQWR WKH FKDLUH 2I SURXG /XFLIHUD DV RQH RI KHU WUDQH [[[YLLf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nG IRU EORXG LQ KLV DXHQJHPHQW %XW ZKHQ WKH IXULRXV ILW ZDV RXHUSDVW +LV FUXHOO IDFWV KH RIWHQ ZRXOG UHSHQW
PAGE 199

KLV EHVHWWLQJ VLQ LV :UDWK ,Q :UDWKnV 7UHPEOLQJ WKURXJK KDVW\ UDJH ZKHQ FKROHU LQ KLP VZHOG ZH VHH 5HGFURVVHnV UHDFWLRQ WR WKH YLVLRQ RI WKH IDOVH 8QD DQG WKH 6TXLUH 7KH H\H RI UHDVRQ ZDV ZLWK UDJH \EOHQW $QG ZRXOG KDYH VODLQH WKHP LQ KLV IXULRXV LUH ,,Yf 7KH YQDGXL]HG UDVKQHVV ZR[HQ ZRRG LV D FRPPHQWDU\ RQ WKH :UDWKIXO /LRQnV NLOOLQJ RI .LUNUDSLQH LQ &DQWR ,,, $QG ILQDOO\ WKH %LWWHU GHVSLJKW ZLWK UDQFRXUV UXVW\ NQLIH $QG IUHWWLQJ JULHIH WKH HQHP\ RI OLIH LV D IRUHVKDGRZLQJ RI 5HGFURVVHnV HQFRXQWHU ZLWK 'HVSDLUH LQ &DQWR ,; ZKHQ KH ZRXOG KDYH NLOOHG KLPVHOI KDG 8QD QRW VQDWFKHG WKH NQLIH IURP KLV KDQG 7KH SULQFLSOH RI WKH FLUFXODU GLVWLOODWLRQ LV DV PXFK LQ HYLGHQFH KHUH DV LQ WKH SUHYLRXV FDQWR :H KDYH VHHQ LQ &DQWR WKDW 0RUSKHXV IXQFWLRQHG DV WKH DOFKHPLFDO 6DWXUQ OHDGf ZLWK UHVSHFW WR WKH VXPPRQLQJ IRUWK RI WKH GUHDP LQ &DQWR ,9 ZH KDYH UHWXUQHG WR WKLV SRLQW RQFH DJDLQ IRU ZKHQ 0RUSKHXV KDG ZLWK OHDGHQ PDFH $UUHVWHG DOO WKDW FRXUWO\ FRPSDQ\ 9SURVH 'XHVVD IURP KHU UHVWLQJ SODFH [OLYf MXVW DV VKH GLG ZKHQ VKH ILUVW DSSHDUHG WR 5HG FURVVH LQ WKH JXLVH RI 8QD 0RUHRYHU ZKHQ 'XHVVD IXOILOn OLQJ WKH QHJDWLYH $QLPDnV WUDGLWLRQDO UROH DV VHFUHW HQHP\ RI WKH HJR ZKRP VKH VXSSRVHGO\ EHIULHQGV SOHGJHV WR 5HGn FURVVHnV HQHP\ 6DQVMR\ WKDW ZKHUH HXHU \HW EH P\ VHFUHW DLG 6KDOO IROORZ \RX OLf VKH GHVFULEHV KHU H[SHULHQFH ZLWK 5HGFURVVH WKXV 0H VLOO\ PDLG DZD\ ZLWK KLP KH EDUH

PAGE 200

$QG HXHU VLQFH KDWK NHSW LQ GDUNVRPH FDXH )RU WKDW ZRXOG QRW \LHOG WKDW WR 6DQVIR\ JDXH [OYLLf 6KH LV WHOOLQJ WKH WUXWK QRW RQO\ GRHV WKLV SHUWDLQ WR WKH VLWXn DWLRQ RI 8QD DQG 6DQVOR\ LQ &DQWR ,,, EXW WKH GDUNVRPH FDXH LV WKH YHU\ RQH LQWR ZKLFK 5HGFURVVH VWHSSHG ZKHQ KH FKDOOHQJHG WKH 0HOXVLQD LQ &DQWR 7KH FLUFXODU GLVWLOn ODWLRQ KDV EURXJKW XV EDFN RQFH PRUH WR WKH EHJLQQLQJ &$172 9 6XPPDU\ :LWK /XFLIHUD VHDWHG EHQHDWK D UR\DO FDQRS\ RQ RQH VLGH 'XHVVD LQ DOO PHQV RSHQ YHZ RQ WKH RWKHU DQG 6DQV IR\n V VKLHOG KDQJLQJ LQ D WUHH EHWZHHQ 5HGFURVVH DQG 6DQV MR\ PHHW LQ HTXDO ILHOG WR GR EDWWOH -XVW DV 5HGFURVVH LV DERXW WR VWULNH WKH GHDWK EORZ 6DQVMR\ LV VXGGHQO\ HQn JXOIHG LQ D GDUNHVRPH FORXG DQG GLVDSSHDUV 5HGFURVVH LV WKHQ KDLOHG DV WKH YLFWRU PDNHV SUHVHQW RI KLV VHU XLFH WR /XFLIHUD DQG LV EURXJKW WR WKH +RXVH RI 3ULGH WR KDYH KLV ZRXQGV WUHDWHG 7KDW HYHQLQJ 'XHVVD JRHV WR WKH EDWWOHILHOG ZKHUH 6DQVMR\ /D\ FRXHUnG ZLWK LQFKDXQWHG FORXG DOO GD\ 7DNLQJ KLP LQ KHU LURQ ZDJRQ VKH JRHV WR +HOO ZKHUH JULHVO\ 1LJKW SHUVXDGHV $HVFXODSLXV WR FXUH WKH 6DUD]LQ NQLJKWnV ZRXQGV DQG WKHQ 'XHVVD WKH IRZOH ZHOIDXRXUG ZLWFK UHWXUQV WR WKH +RXVH RI 3ULGH ,Q WKH PHDQWLPH WKH 'ZDUIH KDV GLVFRYHUHG WKH GRQJHRQ GHHSH ZKHUH WKH YLFWLPV RI 3ULGH ZD\OHG QLJKW DQG GD\ DQG DOHUWV KLV PDVWHU %HIRUH GD\EUHDN 5HGFURVVH DQG WKH

PAGE 201

'ZDUIH IOHH DORQJ D FRUSVHOLQHG SULXLH 3RVWHUQH DQG WKHQFH PDNH JRRG WKHLU HVFDSH IURP 7KH GUHDGIXO VSHFWDFOH RI WKDW VDG KRXVH RI 3ULGH $QDO\VLV DQG &RPPHQWDU\ )URP DQ DOFKHPLFDO SRLQW RI YLHZ WKH PRVW VLJQLILFDQW HYHQW LQ &DQWR 9 LV WKH DFFRXQW RI $HVFXODSLXVn KHDOLQJ RI +LSSRO\WXV IRU ZKLFK WKH SK\VLFLDQ LV FKDLQHG LQ +HOO LQ D &DXH \ZURXJKW E\ ZRQGURXV DUW 'HHSH GDUNH YQ HDVLH GROHIXOO FRPIRUWOHVVH [[[YLf DQG KLV EHLQJ SHUn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n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

PAGE 202

7KHUH DXQFLHQW 1LJKW DUULXLQJ GLG DOLJKW )URP KHU QLJK ZHDULH ZDLQH DQG LQ KHU DUPHV 7R $HVFXODSLXV EURXJKW WKH ZRXQGHG NQLJKW :KRP KDXLQJ VRIWO\ GLVDUD\G RI DUPHV 7KR JDQ WR KLP GLVFRXHU DOO KLV KDUPHV %HVHHFKLQJ KLP ZLWK SUD\HU DQG ZLWK SUDLVH ,I HLWKHU VDOXHV RU R\OHV RU KHUEHV RU FKDUPHV $ IRUGRQQH ZLJKW IURP GRUH RI GHDWK PRWH UDLVH +H ZRXOG DW KHU UHTXHVW SURORQJ KHU QHSKHZV GDLHV [[[YLLL[OLf -RUWLQ FRPPHQWLQJ RQ WKLV SDVVDJH REVHUYHV WKDW :KDW 6SHQVHU VD\V RI $HVFXODSLXV HQGHDYRXULQJ WR KHDO WKH ZRXQGV RI +LSSRO\WXV LV KLV RZQ EHOLHYH DQG LV ILQHO\ LPDn JLQHGA 8SWRQ SRLQWV RXW WKDW HYHQ 5DOHLJK WKRXJKW HQRXJK RI 6SHQVHUnV YHUVLRQ RI WKH VWRU\ WR XVH LW ODWHU LQ KLV KLVWRU\ RI WKH ZRUOG S f WKXV LW LV IDLQHG WKDW 'LDQD HQWUHDWHG $HVFXODSLXV WR VHW +LSSRO\WXV KLV SLHFHV WRJHWKHU DQG WR UHVWRUH KLP WR OLIH QRZ FRQVLGHULQJ 5DOHLJKnV LQWHUHVW LQ DOFKHP\ LW LV QRW VXUSUL]LQJ WKDW KH VKRXOG KDYH EHHQ VWUXFN E\ WKH DSSURSULDWHQHVV RI WKLV DGGLWLRQ IRU WKH RSXV DOFK\PLFXP LV RIWHQ V\PEROL]HG LQ H[DFWO\ WKLV ZD\ ,Q 7ULVPRVLQnV 6SOHQGRU 6ROLV f IRU H[DPSOH WKH PRWLI RI GLVPHPEHUPHQW LV WUHDWHG WKXV 7+( 6,;7+ 3$5$%/( 5RVLQRV UHODWHV RI D YLVLRQ KH KDG RI D PDQ ZKRVH ERG\ ZDV GHDG DQG \HW EHDXWLIXO DQG ZKLWH OLNH 6DOW 7KH +HDG KDG D ILQH *ROGHQ DSSHDUDQFH EXW ZDV FXW RII WKH WUXQN DQG VR ZHUH DOO WKH OLPEV QH[W WR KLP VWRRG DQ XJO\ PDQ RI EODFN DQG FUXHO FRXQWHQDQFH ZLWK D EORRGVWDLQHG GRXEOHHGJHG VZRUG LQ KLV ULJKW KDQG DQG KH ZDV WKH JRRG PDQnV PXUGHUHU ,Q KLV OHIW KDQG ZDV D SDSHU RQ ZKLFK WKH IROORZLQJ ZDV ZULWWHQ KDYH NLOOHG WKHH WKDW WKRX PD\HVW UHFHLYH D VXSHUDEXQGDQW OLIH %XW WK\ KHDG ZLOO FDUHIXOO\ KLGH WKDW WKH ZRUOGO\ ZDQWRQV PD\ QRW ILQG WKHH DQG GHVWUR\ WKH HDUWK DQG WKH ERG\ ZLOO EXU\ WKDW LW PD\ SXWUHI\ DQG JURZ DQG EHDU LQQXPHUDEOH IUXLW

PAGE 203

7+( 6(9(17+ 3$5$%/( 2YLG WKH ROG 5RPDQ ZURWH WR WKH VDPH HQG ZKHQ KH PHQWLRQHG DQ DQFLHQW 6DJH ZKR GHn VLUHG WR UHMXYHQDWH KLPVHOI ZDV WROG KH VKRXOG DOORZ KLPVHOI WR EH FXW WR SLHFHV DQG GHFRFW WR D SHUIHFW GHFRFWLRQ DQG WKHQ KLV OLPEV ZRXOG UHXQLWH DQG DJDLQ EH UHQHZHG LQ SOHQW\ RI VWUHQJWK ,W LV DSSDUHQW WKHUHIRUH WKDW WKH 6HSDUDWLRQ RI WKH DUn FDQH VXEVWDQFH LQWR LWV FRPSRQHQW SDUWV FDQ EH VHHQ LQ WHUPV RI WKH GLVPHPEHUPHQW RI +LSSRO\WXV ZKR DIWHU FRQn IURQWDWLRQ ZLWK WKH WZR PRQVWHUV LH SV\FKLF RSSRVLWHVf VXIIHUHG VXFK YLROHQW IUDJPHQWDWLRQ RI WKH SHUVRQDOLW\ WKDW KLP PHPEHUV FKDVWH ZHUH VFDWWHUHG RQ HXHU\ PRXQWDLQH DQG ZKHUH $HVFXODSLXV E\ KLV DUW 'LG KHDOH WKHP DOO DJDLQH DQG LR\QHG HXHU\ SDUW ZH FDQ VHH DQ DSSOLFDWLRQ RI WKH ZRQGURXV VFLHQFH RI DOFKHP\ E\ ZKLFK WKH SHUn VRQDOLW\ LV UHVWRUHG WR ZKROHQHVV 7KH VWRU\ RI +LSSRO\n WXV WKHQ LV LQ PLFURFRVP ZKDW 5HGFURVVH KLPVHOI LV FXUn UHQWO\ XQGHUJRLQJ DQG $HVFXODSLXVn KHDOLQJ RI 6DQVMR\ LV D VLJQ WKDW WKH VFDWWHUHG SDUWV RI 5HGFURVVH ZLOO VRRQ EH UHDVVHPEOHG IRU DV 0DXULFH (YDQV KDV REVHUYHG WKH SUHVHUn YDWLRQ RI 6DQVMR\ LV FUXFLDO WR 5HGFURVVHnV VDOYDWLRQ 7KH 8QD ZLWKLQ LV VWLOO PDNLQJ KHU FULHV KHDUG KRZn HYHU DQG IRU WKLV UHDVRQ 5HG &URVV KDV WR IDFH WKH WKLUG EURWKHU 6DQV -R\ WKH XQKDSSLQHVV ZKLFK LV WKH LQVHSDUDEOH FRPSDQLRQ RI 'XHVVD 7KLV XQKDSSLQHVV LV WR EH KLV XOWLPDWH VDOYDWLRQ DQG 6SHQVHU FRPSDUHV 'XHVVDnV YLVLW WR $HVFXODSLXV WKHUHIRUH ZLWK WKDW RI 'LDQD ZKHQ VKH VRXJKW WR VDYH WKH YLUWXRXV +LSSRn O\WXV ,Q SUHVHUYLQJ 6DQV -R\ 'XHVVD LV SUHVHUn YLQJ WKH IRUFH E\ ZKLFK 5HG &URVV ZLOO EH SDLQIXOO\ HGXFDWHG LQWR VDOYDWLRQ DOO XQZLWWLQJO\ VKH LV GRLQJ *RGnV ZRUN $OO ZLOO EH FOHDU ZKHQ ZH H[DPLQH WKH DOFKHPLFDO VLJQLILFDQFH RI WKH QLJUHGR LQ FRQQHFWLRQ ZLWK WKH HSLVRGH LQYROYLQJ 'HV

PAGE 204

SDLUH LQ &DQWR ,; WKH IRUFH ZKLFK ZLOO LQFXEDWH WKH ILOL XV SKLORVRSKRUXP LV QRQH RWKHU WKDQ 6DQV -R\ &$172 9, 6XPPDU\ $ WURRS RI )DXQHV DQG 6DW\UHV FRPH WR 8QDnV UHVFXH DV 6DQVOR\ DWWHPSWV WR ZLQ ULFK VSRLOH RI UDQVDFNW FKDVWHWHH :KHQ WKH 6DUD]LQ FDWFKHV VLJKW RI WKH UXGH PLVVKDSHQ PRQVWURXV UDEOHPHQW KH PRXQWV KLV VWHHG DQG ULGHV RII 7KH VDOXDJH QDWLRQ ZRUVKLS 8QD DV D *RGGHVV DQG VKH LQ WXUQ WHDFKHV WKHP 7UXH VDFUHG ORUH ,, 6DW\UDQH D IDHU\ NQLJKW KDOI KXPDQ KDOI VDW\U DGPLUHV 8QDnV KHDYHQO\ ZLVGRP DQG WULHV WR KHOS KHU ORFDWH 5HGFURVVH 7KH\ PHHW $UFKLPDJR GLVJXLVHG DV D 3LOJULP ZKR GLUHFWV WKHP WR ZKHUH 6DQVOR\ ZKR KH VD\V KDV MXVW NLOOHG 5HGFURVVH LV LQ VHFUHWVKDGRZ E\ D IRXQWDLQ VLGH 6DW\UDQH FKDOOHQJHV 6DQVOR\ DQG ZKLOH WKH\ VWUXJJOH 8QD UXQV DZD\ IROORZHG E\ $UFKLPDJR ZKR KDV EHHQ ZDWFKLQJ IURP WKH VKDGRZV $QDO\VLV DQG &RPPHQWDU\ (YHQWV LQ WKH SUHVHQW FDQWR LQGLFDWH WKDW WKH XQFRQn VFLRXV LV EHLQJ SUHSDUHG IRU WKH FRQLXQFWLR ZKLFK ZLOO EH IRUWKFRPLQJ LQ WKH QH[W FDQWR 7KH DVSHFW RI 5HGFURVVH WKDW LV 8QDnV FRPSDQLRQ UHSUHVHQWHG ILUVW E\ WKH /LRQ DQG WKHQ E\ 6DQVOR\ KDV QRZ LQ 6DW\UDQH EHHQ GLVWLOOHG WR WKH KLJKHVW GHJUHH RI SHUFHSWLRQ VR IDU 6DW\UDQHDV D 6$7<5 WHPSHUHG E\ KXP$1( HOHPHQWVLV D V\QWKHVLV RI WKH QRQKXPDQ

PAGE 205

LH EHVWLDOf DQG KXPDQ KH LV $ 6DW\UHV VRQQH \ERUQH LQ IRUUHVW Z\OG ZKRVH PRWKHU ZDV 7K\DPLV D /DG\ P\OG [[Lf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f :H ZLOO XQGHUVWDQG WKH VLJQLILFDQFH RI WKH UHODWLRQVKLS EHn WZHHQ 7K\DPLV DQG WKH VDW\U LI ZH EHDU LQ PLQG DV ZH VKDOO VHH WKDW WKH GHVFULSWLRQ RI 6DQVOR\ UHVWLQJ KLPVHOI E\ WKH IRXQWDLQ EHIRUH KLV EDWWOH ZLWK 6DW\UDQH LV YLUWXDOO\ WKH VDPH DV WKDW RI 5HGFURVVH DW WKH IRXQWDLQ LQ &DQWR 9,, EHn IRUH KLV EDWWOH ZLWK 2UJRJOLR WKXV SRLQWLQJ WR DQ LGHQWLW\ EHWZHHQ WKH RSSRVLWHV RI 6DQVOR\ DQG 5HGFURVVH RQ RQH KDQG DQG 6DW\UDQH DQG 2UJRJOLR RQ WKH RWKHU DQG PRVW LPSRUWDQWn O\ RI DOO WR WKH IDFW WKDW HDFK VFHQH LV WKH UHYHUVHG LPDJH

PAGE 206

RI WKH RWKHU 6LPLODUO\ 'XHVVDnV FRPSODLQW WR 6DQVMR\ LQ &DQWR ,9 DERXW 5HGFURVVHf§0H VLOO\ PDLG DZD\ ZLWK KLP KH EDUH $QG HXHU VLQFH KDWK NHSW LQ GDUNVRPH FDXH )RU WKDW ZRXOG QRW \HHOG WKDW WR 6DQVIR\ JDXH ,9[OYLLf PLUn URUV WKH 6DW\UnV NHHSLQJ 7K\DPLV LQ D VHFUHW FDELQ 6LQFH WKH DFWLYH SULQFLSOH LPSOLFLW QRZ LQ 6DQVOR\ ZLOO DV ZH VKDOO VHH LQ &DQWR 9,, EH H[SUHVVHG DV 2UJRJOLR WKLV LQGLn FDWHV WKDW WKH LQQHU ERZUH RI 2UJRJOLRnV FDVWOH :KHUH KH ZLWK 'XHVVD GDOLDQFH IRXQG 9,,,Yf LV WKH VDPH SODFH DV WKH GDUNVRPH FDXH DQG WKH VHFUHW FDELQ ,W LV VLJQLn ILFDQW WKDW WKH VDW\U LV GHVFULEHG LQ WKH VDPH WHUPV DV 6DQVOR\ DQG IXUWKHUPRUH WKDW WKH RIIVSULQJ RI WKH IRUFHG XQLRQ LV IURP ODZHV RI PHQ H[LOGH [[LLLf RU OLWHUDOO\ VDQV OR\ ZLWKRXW ODZf RWKHU WKDQ 1DWXUH 7KRXJK WKH VDW\U LV D QHJDWLYH ILJXUH KLV HIIHFW RQ 6DW\UDQH LV SRVLWLYH LQ DFFRUGDQFH ZLWK +HUPHWLF WKLQNLQJf LQ WKDW )RU DOO KH WDXJKW WKH WHQGHU \PS ZDV EXW 7R EDQLVK FRZDUGL]H DQG EDVn WDUG IHDUH [[LYf DQG ZLWK WKLV FRXUDJH WKH VRQ ZDV DEOH WR FRQTXHU KLV RZQ EHVWLDOLW\ 7KLV SRLQWV FOHDUO\ WR WKH LGHD VHW IRUWK LQ WKH (PHUDOG 7DEOH WH[W TXRWHG S DERYHf WKDW WKH RSXV LV DFKLHYHG WKURXJK DGDSWDWLRQ LH XVLQJ 1DWXUH WR FRQTXHU 1DWXUH $QG HNH Z\OG URULQJ %XLV KH ZRXOG KLP PDNH 7R WDPH DQG U\GH WKHLU EDFNHV QRW PDGH WR EHDUH [[LYf $QG IRU WR PDNH KLV SRZUH DSSURXHG PRUH :\OG EHDVWV LQ \URQ \RNHV KH ZRXOG FRPSHO 7KH VSRWWHG 3DQWKHU DQG WKH WXVNHG %RUH 7KH 3DUGDOH VZLIW DQG WKH 7LJUH FUXHOO

PAGE 207

7KH $QWHORSH DQG :ROIH ERWK ILHUFH DQG IHOO $QG WKHP FRQVWUDLQH LQ HTXDOO WHPH WR GUDZ 6XFK LR\ KH KDG WKHLU VWXEERUQH KDUWV WR TXHOO $QG VWXUGLH FRXUDJH WDPH ZLWK GUHDGIXOO DZ 7KDW KLV EHKHDVW WKH\ IHDUHG DV D W\UDQV ODZ [[YLf 7KH ODZ WKDW 6DW\UDQH LV H[LOGH [[LLLf IURP LV PDQnV ODZ RI WUDGLWLRQDO PRUDOLW\ ZKLFK ZRXOG UHTXLUH WKH VWULFW DYRLGDQFH RI WKH HYLO ZKLFK E\ GHILQLWLRQ FDQQRW EH DYRLn GHG EXW PXVW EH IDFHG GLUHFWO\ LI WKH RSXV LV WR EH VXFFHVVn IXO 6DW\UDQH WKHUHIRUH GRHV QRW GHVWUR\ WKH GDQJHURXV ZLOG DQLPDOV EXW PHUHO\ UHGLUHFWV WKHLU HQHUJ\ WR KLV DG r YDQWDJH :KDW VHHPV OLNH ODZOHVVQHVV LV DFWXDOO\ WKH SXUn VXLW RI D KLJKHU ODZ WKDQ PDQnV IRU WKH UHGHPSWLRQ RI WKH VSLULW IURP WKH ERQGV RI PDWWHU LV LQ DFFRUGDQFH ZLWK D QDWXUDO LQVWLQFW ZKLFK FRQWUDU\ WR DSSHDUDQFH LV DV WKH DOFKHPLVWV EHOLHYHG RUGDLQHG E\ *RG DQG FRPPDQGHG E\ &KULVW 7KH RSXV WKHUHIRUH UHTXLUHV WKH FRXUDJH RI RQHnV LQQHUPRVW FRQYLFWLRQV ZH FDQ VHH WKHQ WKDW ZKLOH LW ZDV QHFHVVDU\ IRU 6DQVIR\ WR EH VODLQ &DQWR ,,fIRU 5HGFURVVH PXVW QRW EH ZLWKRXW IDLWKf§ WKH ODZOHVVQHVV RI 6DQVOR\ DQG WKH FRXUDJH RI WKH VDW\U DUH DEVROXWHO\ HVVHQWLDO DQG DUH ERWK LPSOLFLW LQ 6DW\UDQH %XW 6DW\UDQH KRZHYHU V\Pn EROL]HV PRUH WKDQ FRXUDJH DQG VHOIGLVFLSOLQH +H UHSUHn VHQWV DQ HPHUJLQJ OHYHO RI DZDUHQHVV WKDW IRU WKH ILUVW WLPH EHJLQV WR EH DEOH WR DSSUHFLDWH 8QD LQ KHU FDSDFLW\ DV :LVn GRP ,Q 6DW\UDQH WKH 5HGFURVVH WKDW FRQTXHUHG WKH 0HOXVLQD DQG 6DQVIR\ IXVHV ZLWK WKH 5HGFURVVH WKDW LQ &DQWR ; ZLOO HQWHU WKH +RXVH RI +ROLQHVV DQG OHDUQ KHDYHQO\ ZLVGRP

PAGE 208

,Q WKHVH DQG OLNH GHOLJKWV RI EORXG\ JDPH +H WUD\QHG ZDV WLOO U\SHU \HDUHV KH UDXJKW $QG WKHUH DERGH ZKLOVW DQ\ EHDVW RI QDPH :DONW LQ WKDW IRUHVW ZKRP KH KDG QRW WDXJKW 7R IHDUH KLV IRUFH DQG WKHQ KLV FRXUDJH KDXJKW 'HVLUG RI IRUUHLQH IRHPHQ WR EH NQRZQH $QG IDU DEURDG IRU VWUDXQJH DGXHQWXUHV VRXJKW ,Q ZKLFK KLV PLJKW ZDV QHXHU RXHUWKURZQH %XW WKURXJK DOO )DHU\ ORQG KLV IDPRXV ZRUWK ZDV EORZQ
PAGE 209

UDQH LV D IDHU\ DQG KLV KRPH LV QRW LQ WKLV ZRUOG EXW LQ )DHU\ODQG KH LV WKH XQFRQVFLRXV IRUP IRU ZKLFK 5HGFURVVH PXVW SURYLGH WKH FRQVFLRXV VXEVWDQFH 6DW\UDQH IRUHVKDGRZV D FRQVFLRXVQHVV QRW ERXQG WR WKH HJR DQG WKHUHIRUH XQDIIHFn WHG E\ 3ULGH DQG UHSUHVHQWV WKH XQFRQVFLRXV DZDUHQHVV WKDW LV WKH FRXQWHUSDUW RI WKH FRQVFLRXV UHDOL]DWLRQ V\PEROL]HG E\ 5HGFURVVHnV KDVW\ GHSDUWXUH IURP 7KH GUHDGIXOO VSHFWDFOH RI WKH VDG KRXVH RI 3ULGH 9UOLLLf :LWK WKLV ZH KDYH FRPH WR WKH HQG RI WKH 6HSDUDWLRQ DQG $QDO\VLV RI WKH FRPSRQHQW HOHPHQWV RI WKH DUFDQH VXEVWDQFH 5LSOH\n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n JRQ 7KH 'ZDUIH REVHUYLQJ WKH SOLJKW RI 5HGFURVVH JDn WKHUV XS KLV PDVWHUnV GLVFDUGHG DUPRXU ILQGV 8QD DQG H[

PAGE 210

SODLQV ZKDW KDV KDSSHQHG 3UHVHQWO\ 8QD PHHWV 3ULQFH $UWKXU ZKR LV LQ JOLWWHULQJ JROGHQ DUPRXU DQG FDUU\LQJ D GLDPRQG VKLHOG $UWKXU DJUHHV WR UHVFXH 5HGFURVVH $QDO\VLV DQG &RPPHQWDU\ :H KDYH UHDFKHG WKH HTXLYDOHQW RI 5LSOH\n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f

PAGE 211

-RKQ : 6FKURHGHU LQ DQ LQWHUSUHWDWLRQ RI WKH 2UJRJOLR HSLVRGH IRU ZKLFK WKH SUHVHQW DOFKHPLFDO DQDO\VLV SURYLGHV LQGHSHQGHQW FRUURERUDWLRQ KDV REVHUYHG WKDW WKH GHVFULSn WLRQ RI 6DQVOR\ LQ ZKLFK WKDW 3DJDQ SURXG KLP VHOIH GLG UHVW ,Q VHFUHW VKDGRZ E\ D IRXQWDLQH VLGH 9,[OfLV VLPLODU WR WKDW RI 5HGFURVVH 6DQVOR\ ZDV WKHQ XQDUPHG IRU ZKHQ 6DW\UDQH DFFRVWHG KLP KH URVH FDXJKW XS KLV VKLHOG DQG KHOPHW DQG EXFNOHG KLP WR WKH ILHOG ,YLf ,W LV QHDU WKH FRQFOXVLRQ RI WKH VL[WK FDQWR WKDW ZH VHH DOO WKLV 7KH VHYHQWK WKHQ RSHQV E\ VHWWLQJ EHIRUH XV 5HG &URVVH DJDLQ ORRNLQJ SUHFLVHO\ OLNH WKH OXVWIXO LQFRQWLQHQW 6DQVOR\ ZHDULHG XQDUPHG UHVn WLQJ E\ D IRXQWDLQ (YHQ WKH ODQJXDJH RI WKH SDVVDJH LQVLVWV XSRQ WKH OLNHQHVV RI WKH WZR ILJXUHV DQG VR UHPLQGV XV RI KRZ IDU LQ OXVW 5HG &URVVH KDV UXQ VLQFH KH GHVHUWHG 8QD 0U 6FKURHGHU KDV UHFRJQL]HG QRW RQO\ WKH LGHQWLW\ RI SRODU RSSRVLWHVLQ WKLV FDVH 6DQVOR\ DQG 5HGFURVVHEXW DOVR WKH b SULQFLSOH RI VLPXOWDQHLW\ 7KH GHVFULSWLRQV DUH VLPLODU EHFDXVH WKH\ UHSUHVHQW GLIIHUHQW DVSHFWV RI WKH VDPH HYHQW 7KH DOFKHPLFDO LGHD XQGHUO\LQJ WKLV LV WKH SULQFLSOH RI FLUFXODU GLVWLOODWLRQ 6LPLODUO\ WKH FKHUHIXOO ELUGV ZKLFK SOD\ WKURXJK WKH WUHPEOLQJ OHDXHV DQG FKDXQW VZHHW PXVLF WR GHOLJKW KLV PLQG EULQJ XV EDFN WR &DQWR DQG WKH VKDGLH JURXH ZKHUH 5HGFURVVH DQG 8QD DUH ZLWK SOHDn VXUH IRUZDUG OHG ,R\LQJ WR KHDUH WKH ELUGV VZHHWH KDUn PRQ\ ,YLLLf DQG LQ ZKLFK WKH\ WDNH FRYHU ZKHQ DQJU\ ,RXH DQ KLGHRXV VWRUPH RI UDLQH 'LG SRXUH LQWR KLV /HPDQV ODS VR IDVW ,YLf $QG IXUWKHUPRUH LQ 'XHVVDnV VHDUFK IRU 5HGFURVVH ZH VHH DQRWKHU DVSHFW RI WKH TXHVW ZKLFK KDV

PAGE 212

EHHQ GHVFULEHG LQ &DQWR ,,, RQ WKH SODQH RI DZDUHQHVV UHn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n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
PAGE 213

7KLV VSULQJ ZLWK LWV PDJLFDO SURSHUWLHV LV D WUXQFDWHG YHUVLRQ RI WKH 6DOPDFLV VWRU\ WKDW 2YLG KDG UHODWHG LQ WKH 0HWDPRUSKRVHV ,9IIf 6DOPDFLV WKH ZDV D YDLQ DQG Q\PSK RI D IRXQWDLQ LQ &DULD VORWKIXO JLUO ZKR QHYHU MRLQHG KHU VLVWHUQ\PSKV LQ WKH V\OYDQ DFWLYLWLHV OHG E\ 'LDQD :KHQ \RXWKIXO +HUPDSKURGLWXV EDWKHG KLPVHOI LQ KHU ZDWHUV 6DOPDFLV ZDV VR XQGRQH E\ SDVVLRQ WKDW VKH LQWHUWZLQHG KHU ERG\ ZLWK KLV DQG SUD\HG WR WKH JRG WKDW WKLV VDPH ZLOIXOO ER\ DQG PD\ QHYHU SDUWHG EHH 7KH JRGV FDSULFLRXVn O\ FRQVHQWHG WR WKH XQXVXDO UHTXHVW DV 2YLGLDQ JRGV VR RIWHQ GR DQG WKHLU ERGLHV ZHUH IXVHG DV RQH :KHQ +HUPDSKURGLWXV UHDOL]HG WKDW KLV PDVFXOLQLW\ KDG EHHQ GLOXWHG WR KDOI LWV IRUPHU VWUHQJWK KH DOVR SUD\HG IRU D ERRQ 7KDW ZKRVR FRPPHV ZLWKLQ WKLV :HOO PD\ VR ZHDNHQHG WKHUH 7KDW RI D PDQ EXW KDOIH D PDQ KH PD\ IUR WKHQFH UHWLUH 7KH JRGV ZHUH DJDLQ FRPn SOLDQW DQG WKHQFHIRUWK ZKRHYHU GUDQN IURP 6DOPDFLVn ORVW KLV VWUHQJWK 6SHQVHU KDV HOLPLQDWHG +HUPDSKURGLWXV &7, SOHWHO\ DQG DWWULEXWHV WKH HQHUYDWLQJ SURSHUWLHV RI WKH ZDWHU VROHO\ WR WKH GLVSOHDVXUH RI 'LDQD ZKHQ WKH LQGROHQW 6DOPDFLV VKRZHG LQGLIIHUHQFH WR WKH FKDVH ,YLLf 2YLG KDV QHYHU KDG PRUH DUGHQW GLVn FLSOHV WKDQ WKH (OL]DEHWKDQV KRZHYHU DQG WR 6SHQn VHUnV DXGLHQFH WKLV HQFKDQWHG VSULQJ ZRXOG LQHYLWDEO\ UHFDOO 6DOPDFLV VSULQJ :H KDYH VHHQ LQ &DQWR 9 WKDW 6SHQVHU PRGLILHG WKH VWRU\ RI +LSSRO\WXV LQ RUGHU WKDW LW PLJKW EH PDGH WR VHUYH DV DQ DOOHJRU\ RI DOFKHPLFDO WUDQVIRUPDWLRQ LW VHHPV FOHDU WKDW WKH VWRU\ RI 6DOPDFLV KDV EHHQ DOWHUHG IRU WKH VDPH UHDVRQ ,Q DOFKHP\ 'LDQD FRUUHVSRQGV WR WKH EULJKW VLGH RI WKH PRRQ DQG 9HQXV WR WKH GDUN $W WKLV VWDJH RI WKH RSXV WKH IRXQn WDLQ LV RI FRXUVH LGHQWLILHG QRW ZLWK 'LDQD EXW ZLWK 9HQXVrA +HQFH 6SHQVHU KDV VWUHVVHG WKH HQPLW\ EHWZHHQ 'LDQD DQG WKH VDFUHG 1\PSK DQG SDUWLFXODUO\ WKH LGHQn WLW\ EHWZHHQ Q\PSK DQG IRXQWDLQ WKH ZDWHUV ZKLFK IURP KHU GLG IORZ EHFDPH VXFK DV VKH KHU VHOIH ZDV $V 0U +HQLQJHU SRLQWV RXW WKH DOOXVLRQ FRXOG QRW EXW FDOO IRUWK

PAGE 214

2YLGnV YHUVLRQ RI WKH VWRU\ ,Q VRPH UHVSHFWV ZKDW KDSSHQV WR +HUPDSKURGLWXV LV HQWLUHO\ LQ NHHSLQJ ZLWK DOFKHPLFDO V\PEROLVP 6DOPDFLVn GHVLUH WKDW VKH PD\ QHYHU SDUWHG EHH IURP +HUPDSKURGLWXV DQG WKDW WKHLU WZR ERGLHV EH IXVHG LQWR RQH FRUUHVSRQGV H[DFWO\ WR WKH FRPPRQ DOFKHPLFDO LGHD RI WKH V\QWKHVLV RI 6RO DQG /XQD LQWR WKH SV\FKRORJLFDO +HUPDSKURGLWH RU ILOLXV SKLORVRSKRUXP $Q DOFKHPLFDO DOOHJRU\ KRZHYHU ZRXOG VWUHVV WKDW WKH IXVLRQ LV D UHVn WRUDWLRQ RI ORVW ZKROHQHVV 2YLGnV VWRU\ RQ WKH RWKHU KDQG LPSOLHV MXVW WKH RSSRVLWH +HUPDSKURGLWXVn PDVFXOLn QLW\ KDV EHHQ GLOXWHG E\ KDOI ZKLFK LV D IXVLRQ YHU\ GLIn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nV IDYRXU LQ IRUVDNLQJ 8QD IRU 'XHVVD 5HG &URVV KDV IDFHG +HUFXOHVnV FKRLFH EHWZHHQ YLUWXH DQG SOHDVXUH EXW XQOLNH WKH KHUR KDV IROORZHG WKH SDWK RI 9HQXV LQVWHDG RI WKDW RI 'LDQD WKLV LQVWDQFH ZKHQ WKH FKRLFH VHHPV WR EH 6RHQVHU EOXUV DQG DYRLGV HYHQ P WPV LQVWDQFH ZQHQ WQH FQRLFH VHHPV WKH ZKROO\ WUDGLWLRQDO RQH 6SHQVHU EOXUV WKH LVVXH DQ XQFRPSURPLVLQJ RSSRVLWLRQ EHWZHHQ EODFN DQG ZKLWH,Q FRQVHTXHQFH RI WKLV 5HG &URVVnV UHn OD[DWLRQ E\ LWV ZDWHUV VHHPV OHVV D VLQIXO UHODSVH IURP &KULVWLDQ YLUWXH WKDQ DQ LQHYLWDEOH QHFHVVLW\ RI WKH

PAGE 215

KXPDQ VWDWH VLQFH WKH )DOO 6XFK SOHDVXUH EHFDXVH QDWXUDO WR PDQ FDQQRW EH WRWDOO\ HYLO DQG WKH nVDFUHG Q\PSKn ZLOO EH IRUJLYHQ VKH LV RXW RI 'LDQDnV IDYRXU RQO\ IRU WKH WLPH EHLQJ nDV LW WKHQ EHIHOOn DQG WKH IRXQWDLQ ZLOO UHJDLQ LWV HWHUQDO DQG OLIHJLYLQJ SURn SHUWLHV f WKH EXEEOLQJ ZDYH GLG HYHU IUHVKO\ ZHOO 1H HYHU ZRXOG WKURXJK IHUYDQW VRPPHU IDGHn ,YLf $W WKLV PRPHQW RI GHFLVLYH HUURU WKH YHUVH LV IXOO RI KRSH QRW RI FRQGHPQDWLRQ DQG FRQWDLQV SDUDGR[LFDO KLQWV WKDW WKH ZD\V RI 'LDQD DQG 9HQXV ZLOO QRW DOZD\V EH LQ FRQIOLFWE )RU WKH DOFKHPLVW 5HGFURVVHnV DFWLRQV LI SDUDGR[LFDO DUH \HW SDUDGR[LFDO LQ D ZD\ WKDW LV SDUW DQG SDUFHO RI DOFKHn PLFDO WKLQNLQJ LW LV D SULQFLSOH WKDW WKH DGHSW FDQQRW EH EHWURWKHG WR 'LDQD ZLWKRXW KDYLQJ ILUVW EHHQ ZHG WR 9HQXV b 7KH V\PEROLVP DVVRFLDWHG ZLWK DOFKHPLFDO OLWHUDWXUH LQGLn FDWHV WKDW WKHUH DUH WKHUHIRUH WZR PDUULDJHV -XQJ GLVn WLQJXLVKHV EHWZHHQ WKHP WKXV 7KH FRQMXQFWLRQ V\PEROLVP DSSHDUV LQ WZR SODFHV ILUVW DW WKH GHVFHQW LQWR WKH GDUNQHVV ZKHQ WKH PDUULDJH KDV D QHIDULRXV FKDUDFWHU LQFHVW PXUGHU GHDWKf VHFRQG EHIRUH WKH DVFHQW ZKHQ WKH XQLRQ KDV D PRUH KHDYHQO\ F f§ KDUDFWHU 7KH UHDO SXUSRVH RI 5HGFURVVHnV EODWDQW IRUQLFDWLRQ ZLWK 'XHVVD 3RXUG RXW LQ ORRVQHVVH RQ WKH JUDVV\ JURZQG LV WR DFKLHYH WKH OHYHO RI FRQVFLRXVQHVV V\PEROL]HG E\ WKH ILOLXV SKLORVRSKRUXP DQG WKXV SUHSDUH KLPVHOI IRU KLV HYHQWXDO EHWURWKDO WR 8QD 7LOO DW WKH ODVW KH KHDUG D GUHDGIXOO VRZQG :KLFK WKURXJK WKH ZRRG ORXG EHOORZLQJ GLG UHERZQG 7KDW DOO WKH HDUWK IRU WHUURXU VHHPG WR VKDNH $QG WUHHV GLG WUHPEOH 7Kn(OIH WKHUHZLWK DVWRZQG 9SVWDUWHG OLJKWO\ IURP KLV ORRVHU PDNH $QG KLV YQUHDG\ ZHDSRQV JDQ LQ KDQG WR WDNH %XW HUH KH FRXOG KLV DUPRXU RQ KLP GLJKW

PAGE 216

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nG DQG WUHEOLQJ WKH GHY WLPH ,Q ZKLFK WKH ZRPEHV RI ZRPHQ GR H[SLUH %URXJKW IRUWK WKLV PRQVWURXV PDVVH RI HDUWKO\ VOLPH 3XIW YS ZLWK HPSWLH ZLQG DQG ILOG ZLWK VLQIXOO FULPH 6R JURZHQ JUHDW WKURXJK DUURJDQW GHOLJKW 2I WKn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f $FFRUGLQJ WR 5LSOH\ &RQMXQFWLRQ LV D SDVVDJH WKURXJK WKH HOHPHQWV PDGH SRVVLEOH E\ WKH SUHYLRXV RSHUDWLRQ RI 6HSDn UDWLRQ 7KXV FDXV\WK 6HSDUDFLQ WUHZ &RQMXQFFLRQ WR EH

PAGE 217

KDG 2I :DWHU $\UH (DUWK DQG )\UH %XW WKDW HYHU\ (OHn PHQW PD\ LQWR RWKHU EH ODG $QG VR DE\GH IRU HYHU WR WK\ GHV\UH 7KDW WKLV FRQGLWLRQ KDV EHHQ IXOILOOHG LV FOHDU IURP $ & +DPLOWRQnV DQDO\VLV :KDW ZH ZLWQHVV LQ KLV GHVFHQW LV D SDVVDJH WKURXJK WKH HOHPHQWV RI ILUH DLU ZDWHU DQG HDUWK :KHQ KH HVFDSHV WKH VXQnV nER\OLQJ KHDWn ILUHf DQG EDWKHV KLV IRUHKHDG nLQ WKH EUHDWKLQJ ZLQGn DLUf KH GULQNV IURP WKH VWUHDP ZDWHUf DV KH OLHV SRXUHG RXW RQ WKH JURXQG HDUWKf &RQFHUQLQJ WKH JLDQW 2UJRJOLR LW LV REYLRXV WKDW KH IXQFn WLRQV DV PRUH WKDQ PHUHO\ DQ HPEOHP RI 3ULGH 0U +HQLQJHU KDV VXJJHVWHG WKDW KH LV WKH SHUVRQLILFDWLRQ RI DQ HDUWKn TXDNH ,QGHHG LI KH LV QRW TXLWH DV 0U +HQLQJHU VWDWHV WKH P\WKLFDO HPERGLPHQW RI DQ HDUWKTXDNH KH LV FHUWDLQO\ UHODWHG WR RQH KLV YHU\ DSSURDFK LV DQQRXQFHG E\ D GUHDGIXOO VRZQG :KLFK WKURXJK WKH ZRRG ORXG EHOORZLQJ GLG UHERZQG 7KDW DOO WKH HDUWK IRU WHUURXU VHHPG WR VKDNH $QG WUHHV GLG WUHPEOH DQG KLV FRQFHSWLRQ DQG JHVn WDWLRQ LQ (DUWKnV KROORZ ZRPE DV 0U +HQLQJHU KDV VKRZQ DJUHHV YHUEDWLP ZLWK WKH WKHRU\ RI WKH RULJLQ RI HDUWKn TXDNHV DV VHW IRUWK E\ *DEULHO +DUYH\ LQ D OHWWHU WR 6SHQn VHU 0U 6FKURHGHU ZKLOH QRW GHQ\LQJ WKH SODXVLELOLW\ RI WKLV LQWHUSUHWDWLRQ KDV GUDZQ RQ SVHXGR$ULVWRWHOLDQ SK\VLRORJ\ HURWLF SRHWU\ DQG (OL]DEHWKDQ EDZG\ VODQJ WR PDNH D VWXQQLQJ FDVH IRU 2UJRJOLR DV WKH SKDOOLF FRXQWHUn SDUW WR WKH IHPLQLQH V\PERO RI WKH IRXQWDLQ LQ ZKDW LV LQ HIIHFW D SURORQJHG HURWLF GUDPD

PAGE 218

5HG &URVVHnV HQIHHEOHPHQW VHHPV WR EH LQ QR ZLVH LPDJLQHG DW UDQGRP EXW UDWKHU DGKHUHV H[DFWO\ WR LPSHFFDEOH SK\VLRORJLFDO GRFWULQH 7KH NQLJKW LV WKH UHVXOW RI KLV ILUVW DFW RI YHQHU\ ZLWK 'XHVVD WKH GULQN KH WDNHV RI WKH IRXQWDLQ LV WKH PHWDSKRU IRU WKDW DFW KLV HQIHHEOHPHQW GLVSOD\V ERWK WKH FODVVLF V\PSWRPV 1RZD FLUFXPVWDQFH QRW DQWLFLSDWHGf§5HG &URVVH GRHV QRW VWRS DIWHU ORYHERXW 'HVSLWH KLV FKLOO DQG IDLQWQHVV ZH UHPHPEHU KH JRHV RQ PDNLQJ KLV JRRGO\ FRXUW WR 'XHVVD 7KH RIIHQVH LV UHSHDWHG ,W LV HDV\ IRU XV KDSV RQH WR PLVV WKH SRLQW WKDW 5HG &URVVHnV FDSWLYLW\ LV VH[XDO DQG WKDW KH KLPVHOI ZLOIXOO\ H[WHQGV LWA :KDW 0U 6FKURHGHU KDV GHVFULEHG LV D FKDUDFWHULVWLF IHDn WXUH RI DOFKHPLFDO GHSLFWLRQV RI WKH FRQLXQFWLR -XQJ SRLQWV RXW WKDW QRW RQO\ LV 0HUFXULXV SRUWUD\HG DV WKH b SKDOOXV EXW VLJQLILFDQWO\ KH LV OLQNHG ZLWK WKH PRWLI RI FRQWLQXRXV FRKDELWDWLRQ -XQJ FRPPHQWLQJ RQ WKH DOn FKHPLVW 0LFKDHO 0DLHUnV DOOXVLRQ WR 0HUFXULXV DV +HUPHV .\OOHQLRV GHVFULEHV WKH EDZG\ FKDUDFWHULVWLFV RI 0HUFXULXV WKXV 0DLHU >UHODWHV 0HUFXULXV@ WR +HUPHV .\OOHQLRV ZKHQ KH FDOOV KLP WKLV IDLWKOHVV DQG DOO WRR HOXVLYH $UFDGLDQ \RXWK IRU LQ $UFDGLD ZDV WKH VDQFWXDU\ RI .\OOHQLRV WKH LWK\SKDOOLF +HUPHV >RQH RI WKH DOFKHPLFDO FODVVLFV 0HU ,Q WKH VFKROLD WR WKH 7UDF URZ LV DOVR FXULXV LV QDPHG RXWULJKW WKH .\OOHQLDQ KHUR 0DLn HU n V ZRUGV PLJKW DOVR EH D UHIHUHQFH WR (URV $QG LQ LQ 5RVHQFUHXW]nV &K\PLFDO :HGGLQJ 0HUFXULXV SSHDU LQ WKH IRUP RI &XSLG DQG SXQLVKHV WKH IRU KLV FXULRXVLW\ LQ YLVLWLQJ WKH /DG\ 9HQXV E\ ZRXQGLQJ KLP LQ WKH KDQG ZLWK DQ DUURZ 7KH DU WKH GDUW RI SDVVLRQ WHOXP SDVVLRQLVf ZKLFK LV DOVR DQ DWWULEXWH RI 0HUFXULXV +LV ODVFLYLRXVn QHVV LV ERUQH RXW E\ DQ LOOXVWUDWLRQ LQ WKH 7ULSXV FKLPLFXV RI 6HQGLYRJLXV ZKHUH KH XPSKDO FKDULRW GUDZQ E\ D FRFN DQG D KHQ KLP LV D QDNHG SDLU RI HPEUDFLQJ ORYHUV ,Q WKLV FRQQHFWLRQ PD\ DOVR EH PHQWLRQHG WKH QXPHURXV VRPHZKDW REVFHQH SLFWXUHV RI WKH FRQLXQFWLR LQ ROG SULQWV RIn WHQ SUHVHUYHG PHUHO\ DV SRUQRJUDSKLFD $JDLQ 0HUn FXULXV UHSUHVHQWV WKH FRQWLQXRXV FRKDELWDWLRQ ZKLFK LV IRXQG LQ XQDOOR\HG IRUP LQ WKH 7DQWULF 6KLYD6KDNWL RQ D DQG EHKLQG

PAGE 219

FRQFHSW 2QH LV UHPLQGHG RI WKH ZLQJHG LWK\SKDOOLF ROG PDQ ZKR SXUVXHV WKH EOXH RU GRJOLNH ZRPDQ LQ +LSSRO\WXV .\OOHQLRV GRHV LQ IDFW DSSHDU LQ +LSSR O\WXV DV LGHQWLFDO RQ WKH RQH KDQG ZLWK WKH /RJRV DQG RQ WKH RWKHU ZLWK WKH ZLFNHG .RU\EDV WKH SKDOOXV 7KXV WKH SKDOOLF UHSUHVHQWDWLRQ RI 0HUFXULXV 2UJRJOLR 3XIW YS ZLWK HPSWLH ZLQG DQG ILOG ZLWK VLQIXO FULPH ZLWK KLV VFRUQ RI NQLJKWKRRG LV DQ H[SUHVVLRQ RI 5HG FURVVHnV 6KDGRZ OLNH WKH OXVWIXO 6TXLUH FRKDELWLQJ ZLWK WKH IDOVH 8QD LQ &DQWR ,, DQG LQ WKH \RXQJ NQLJKWnV GHn IHDW E\ WKH JLDQW JURZHQ JUHDW WKURXJK DUURJDQW GHOLJKW WKH FUXFLIL[LRQ DQG GHDWK RI WKH HJR LV DSSURSULDWHO\ DFn FRPSDQLHG E\ 2UJRJOLRn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

PAGE 220

+H FKRVH ZKLFK KH KDG NHSW ORQJ WLPH LQ GDUNVRPH GHQ 6XFK RQH LW ZDV DV WKDW UHQRZPHG 6QDNH :KLFK JUHDW $OFLGHV LQ 6WUHPRQD VOHZ /RQJ IRVWUHG P WKH ILOWK RI /HUQD ODNH :KRVH PDQ\ KHDGV RXW EXGGLQJ HXHU QHZ 'LG EUHHG KLP HQGOHVVH ODERXU WR VXEGHZ %XW WKLV VDPH 0RQVWHU PXFK PRUH YJO\ ZDV )RU VHXHQ JUHDW KHDGV RXW RI KLV ERG\ JUHZ $Q \URQ EUHVW DQG EDFNH RI VFDO\ EUDV $QG DOO HPEUHZG LQ EORXG KLV H\HV GLG VKLQH DV JODV +LV VWUHWFKHG RXW LQ ZRQGURXV OHQJWK KRXVH RI KHDXHQO\ JRGV LW UDXJKW DQG ERUURZnG VWUHQJWK WD\OH ZDV 7KDW WR WKH $QG ZLWK H[WRUWHG SRZUH 7KH HXHUEXUQLQJ ODPSV IURP WKHQFH LW EURXJKW SURZGO\ WKUHZ WR JURXQG DV WKLQJV RI QRXJKW YQGHUQHDWK KLV ILOWK\ IHHW GLG VDFUHG WKLQDV DQG KROY KHDVWV $QG $QG 7KH VDFUHG WKLQJV 9SRQ WKLV GUHDGIXOO KRO\ HDVW ZLWK IRUHWDXJKW VHXHQIROG KHDG +H VHW WKH IDOVH 'XHVVD IRU PRUH DZ DQG GUHDG [LY[YLLLf 7KH GDUNVRPH GHQ ZKHUH 2UJRJOLR KDV NHSW WKH VHYHQKHDGHG GUDJRQ LV QRQH RWKHU WKDQ WKH 0HOXVLQDnV GDUNVRPH FDXH LQ &DQWR DQG WKH LGHQWLW\ EHWZHHQ 'XHVVD DQG WKH GUDJRQ RQ WKH RQH KDQG DQG 2UJRJOLR DQG 5HGFURVVH RQ WKH RWKHU EHn FRPHV H[SOLFLW DV VRRQ DV ZH UHFDOO 'XHVVDnV FRPSODLQW WR 6DQVOR\ FRQFHUQLQJ 5HGFURVVH WKDW 0H VLOO\ PDLG DZD\ ZLWK KLP KH EDUH $QG HXHU VLQFH KDWK NHSW LQ GDUNVRPH FDXH ,9U[OYLLf 6LQFH WKH PHUFXULDO 6HUSHQW LV WKH 6WRQH LQ SRWHQWLD ZKLFK LV LQLWLDOO\ IRXQG LQ ILOWK WKH UHIHn UHQFH WR WKH PRQVWURXV EHDVW \EUHG LQ ILOWK\ IHQ DQG WKH 6QDNH /RQJ IRVWUHG LQ WKH ILOWK RI /HUQD ODNH LV HVn SHFLDOO\ DSSURSULDWH DV ZH VKDOO VHH WKLV PRPHQW ZKLFK LV VHHPV WR EH WKH XOWLPDWH WULXPSK RI (YLO RYHU *RRG

PAGE 221

DFWXDOO\ WKH SLYRWDO PLGSRLQW RI WKH RSXV ZKHUH ZKDW LV RQ RQH OHYHO WKH 6FDUORW :KRUH RI 5HYHODWLRQV 'XHVVDf EHn FRPHV RQ DQRWKHU OHYHO WKH :RPDQ FORWKHG ZLWK WKH 6XQ 8QDfZKR ZLOO EULQJ IRUWK WKH ILOLXV SKLORVRSKRUXP 3ULQFH $UWKXUf WKH 5HGHHPHU FUHDWHG WKURXJK WKH V\QWKHn VL]LQJ SURFHVV LPSOLFLW LQ WKH P\VWHULXP FRQLXQFWLRQLV RI 6RO DQG /XQD :KDW KDV RFFXUUHG WKXV IDU FDQ EH V\PEROLFDOO\ UHVWDWHG E\ TXRWLQJ DJDLQ IURP 3KLODOHWKHVn DOFKHPLFDO SDUDEOH $Q 2SHQ (QWUDQFH WR WKH &ORVHG 3DODFH RI WKH .LQJ FLWHG LQ IXOO DERYH S IIf $QG WKRXJK WKH FHQWUDO ZDWHU LV KLV EULGH \HW GDUH KH QRW GLVSOD\ KLV PRVW DUGHQW ORYH WRZDUGV KHU EHn FDXVH RI WKH VQDUHV RI WKH WKLHI ZKRVH PDFKLQDWLRQV DUH LQ WUXWK XQDYRLGDEOH +HUH PD\ 'LDQD EH SURSLn WLRXV WR WKHH ZKR NQRZHWK KRZ WR WDPH ZLOG EHDVWV VR WKDW WKH \RXWK HDVLO\ HQWHUHWK LQ WKURXJK WKH SRUHV DQG LQVWDQWO\ VKDNHWK WKH IRXQGDWLRQV RI WKH HDUWK DQG ULVHV XS D GDUN FORXG %XW WKRX ZLOW OHDG WKH ZDWHUV XS HYHQ WR WKH EULJKWQHVV RI WKH PRRQ DQG WKH GDUNQHVV WKDW ZDV XSRQ WKH IDFH RI WKH GHHS VKDOO EH VFDWWHUHG E\ WKH VSLULW PRYLQJ RYHU WKH ZDWHUV 7KXV E\ *RGnV FRPPDQG VKDOO WKH /LJKW DSSHDU 7KH FHQWUDO ZDWHU ZKLFK DV 0U 6FKURHGHU KDV VKRZQ LQ KLV DQDO\VLV RI WKH VH[XDO FRQQRWDWLRQV RI 6SHQVHUnV IRXQn WDLQ LV 5HGFURVVHnV EULGH DOVR KDV WKH VSLULWXDO PHDn QLQJ DV -XQJ KDV SRLQWHG RXW RI IRXQWDLQ RI WKH VRXO RU IRXQW RI ZLVGRP IURP ZKLFK WKH LQQHU OLIH ZHOOV XS 7KH FHQWUDO ZDWHU LV FRPSDUDEOH WR WKH VDFUHG IRXQWDLQ ,U[[LYf WKDW ZH ILUVW HQFRXQWHUHG DW $UFKLPDJRnV KHUPLn WDJH DQG ZKLFK ZH VKDOO HQFRXQWHU RQFH DJDLQ DV WKH :HOO RI /LIH LQ &DQWR ;, $V ZH KDYH VHHQ WKH WKLHI ZLWK KLV

PAGE 222

PDFKLQDWLRQV LV UHSUHVHQWHG E\ WKH YDULRXV DVSHFWV RI 5HGFURVVHnV 6KDGRZ$UFKLPDJR WKH OXVW\ 6TXLUH WKH 6DQV EURWKHUV 2UJRJOLRf§DQG DSSHDUV DV -XQJ REVHUYHV WR KLQn GHU WKH \RXWKnV ORYH IRU WKH FKDVWH 'LDQD >WKRXJK@ LQ UHDOLW\ WKH HYLO LVOXUNLQJ LQ WKH LGHDO \RXWK DQG LQ WKH GDUNQHVV RI WKH QHZ PRRQ LW LV VLJQLILFDQW WKDW WKH EHDVWV KDYH EHHQ WDPHGWKH OLRQ DV ZHOO DV WKH PDQ\ DQLPDOV ZKLFK 6DW\UDQH KDV EURXJKW WR WKH VXEMHFWLRQ RI KLV ZLOORQ WKH SODQH RI DZDUHQHVV UHSUHVHQWHG E\ 8QD ZKR LV DIWHU DOO WKH HTXLYDOHQW RI 'LDQD ,W LV RQO\ f b EHFDXVH 'LDQD KDV EHHQ SURSLWLRXV WKDW 5HGFURVVH OLNH 3KLODOHWKHVn ZLQJHG \RXWK FDQ HQWHU LQ WKURXJK WKH SRUHV IRU RQO\ WKURXJK WKH FRQLXQFWLR FDQ WKH H[WUHPH RSSRVLWHV XQLWH >DQG@ QLJKW >EH@ ZHGGHG ZLWK GD\ 7KH FRQLXQFn WLR LQ 6SHQVHU LV OLNHZLVH IROORZHG E\ DQ HDUWKTXDNHZKLFK 0U +HQLQJHU KDV OLQNHG ZLWK 2UJRJOLRRI ZKLFK DFFRUGLQJ WR -XQJ WKH SV\FKRORJLFDO LPSOLFDWLRQV DUH WKXV 7KH HDUWKTXDNH LV RQ WKH RQH KDQG DQ DOOXVLRQ WR &KULVWnV GHVFHQW LQWR KHOO DQG KLV UHVXUUHFWLRQ DQG RQ WKH RWKHU KDQG D VKDNLQJ RI WKH KXPGUXP HDUWKO\ H[LVWHQFH RI PDQ LQWR ZKRVH OLIH DQG VRXO PHDQLQJ KDV DW ODVW SHQHWUDWHG DQG XSOLIWHG DQG E\ ZKLFK KH LV DW RQFH 7KLV LV DOZD\V DQ LQWXLWLYH H[SHULHQFH WKDW LV IHOW DV D FRQFUHWH UHDOLW\ ,W LV WKH SUHILJXUDWLRQ DQG DQWLFLSDWLRQ RI D IXWXUH FRQGLWLRQ D JOLPPHULQJ RI DQ XQVSRNHQ KDOIFRQVFLRXV XQLRQ RI HJR DQG QRQn HJR 7KH HDUWKTXDNH VHQGV XS D GDUN FORXG FRQVFLRXVn QHVV EHFDXVH RI WKH UHYROXWLRQ RI LWV IRUPHU VWDQGn SRLQW LV VKURXGHG LQ GDUNQHVV MXVW DV WKH HDUWK ZDV DW &KULVWnV GHDWK ZKLFK ZDV IROORZHG E\ D UHVXUn UHFWLRQ 7KLV LPDJH WHOOV XV WKDW WKH ZLGHQLQJ RI FRQVFLRXVQHVV LV DW ILUVW XSKHDYDO DQG GDUNQHV WKHQ D EURDGHQLQJ RXW RI PDQ WR WKH ZKROH PDQ

PAGE 223

)RU 5HGFURVVH WKH GDUN FORXG LV 2UJRJOLRnV GXQJHRQ ZKLFK FXULRXVO\ HQRXJK LV DOVR DQ H[SUHVVLRQ RI 'LDQDnV IDYRXU DV ZHOO DV 9HQXVnV IRU 'XHVVDnV SOHDGLQJ ZLWK 2U JRJOLR IRU 5HGFURVVHnV OLIH+ROG IRU P\ VDNH DQG GR KLP QRW WR G\HLV D VLJQ WKDW ERWK VLGHV RI WKH PRRQ KDYH DQ HTXDO VWDNH LQ 5HGFURVVHnV IXWXUH 5HGFURVVH WRR ZLOO OHDG WKH ZDWHUV XS HYHQ WR WKH EULJKWQHVV RI WKH PRRQ IRU KLV DFWLRQV ZLOO DV -XQJ VD\V EULQJ LQWR FRQVFLRXVn QHVV WKH JUDFLRXV DQG VHUHQH FRPSOHPHQW RI WKH VLQLVWHU QHZ PRRQ DQG LWV SHULOV DQG WKXV WUDQVIRUP 'XHVVD LQWR 8QD 7KH VSLULW PRYLQJ RYHU WKH ZDWHUV LV DV ZH VKDOO VHH 3ULQFH $UWKXU DQG KLV GLDPRQG VKLHOG ZKR ZLOO VFDWWHU WKH GDUNQHVV WKDW ZDV XSRQ WKH IDFH RI WKH GHHS E\ GHVn WUR\LQJ 2UJRJOLR DQG VHWWLQJ LQWR PRWLRQ LQ WKH XQFRQn VFLRXV WKH KLGGHQ UHGHPSWLYH SRZHUV ZKLFK ZLOO XOWLPDWHO\ WUDQVIRUP 5HGFURVVHnV FRQVFLRXV SHUVRQDOLW\ 7KDW 5HGFURVVH KDV EHHQ UHGXFHG WR D VORPEUHG VHQFH OHVV FRUVH DQG WKURZQ LQWR 2UJRJOLRnV 'RQJHRQ GHHSH LQn GLFDWHV WKDW SV\FKLF HQHUJ\ KDV EHHQ ZLWKGUDZQ IURP WKH (JR DQG VKLIWHG WR WKH XQFRQVFLRXV ZKHUH DV D UHVXOW RI WKH P\VWHULXP FRQLXQFWLRQLV WKHUH LV WKH PLUDFXORXV DSSHDUDQFH RI WKH ILOLXV SKLORVRSKRUXP V\PEROL]HG E\ 3ULQFH $UWKXU ZKR DV 6SHQVHU VWDWHV LQ WKH OHWWHU WR 5DOHLJK UHSUHVHQWVf§DSSURSULDWHO\WKH SHUIHFWLRQ RI DOO YLUWXHV )RU WKH ILUVW WLPH VLQFH WKH LQLWLDO 6HSDUDWLRQ ZH VHH WKH PHUJLQJ WRJHWKHU RI WKH WZR SODQHV RI DZDUHQHVV IRU WKRXJK LW LV 'XHVVD ZLWK ZKRP 5HGFURVVH KDV FRXSOHG LW

PAGE 224

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nG ZLWK FXULRXV VOLJKWV :KRVH KLOWV ZHUH EXUQLVKW JROG DQG KDQGOH VWURQJ 2I PRWKHU SHDUOH DQG EXFNOHG ZLWK D JROGHQ WRQJ +LV KDXJKWLH KHOPHW KRUULG DOO ZLWK JROG %RWK JORULRXV EULJKWQHVVH DQG JUHDW WHUURXU EUHG )RU DOO WKH FUHVW D 'UDJRQ GLG HQIROG :LWK JUHHGLH SDZHV DQG RXHU DOO GLG VSUHG +LV JROGHQ ZLQJV KLV GUHDGIXOO KLGHRXV KHG &ORVH FRXFKHG RQ WKH EHXHU VHHPnG WR WKURZ )URP IODPLQJ PRXWK EULJKW VSDUNOHV ILHULH UHG $QG VFDO\ WD\OH ZDV VWUHWFKW DGRZQH KLV EDFNH IXOO ORZ [[L[[[[Lf ,Q &KDUQRFNHnV $HQLJPD GH $OFKLPLDH f WKH ILOLXV SKL ORVRSKRUXP LV GHVFULEHG WKXV 0H WKRXJKW KH ZDV D 3ULQFH RI +RQRXUH )RU KH ZDV DOO LQ *ROGHQ $UPRXUH $QG RQH KLV KHDG D &URZQH RII *ROGH 7KDW IRU QR ULFKHV LW PLJKW EH VROG 7KH OLJKW ZKLFK JOLWWHUV IURP WKH DUPRXU LV LQn GHHG 3KRHEXV EULJKWHVW UD\ IRU $UWKXU LV WKH KHDYHQO\ RU GLYLQH 6RO WKH DUFKHW\SH ZKLFK LV WKH HWHUQDO FRXQWHUSDUW

PAGE 225

RI WKH PRUWDO DQG KXPDQ 6RO ZKLFK 5HGFURVVH UHSUHVHQWV 7R WKH H[WHQW WKDW WKH DUFKHW\SH FDQ EH FRQVWHOODWHG LQ 5HGn FURVVH KH WRR ZLOO VKDUH LQ $UWKXUnV LQYLQFLELOLW\ 7KH VWRQH RI ZRQGURXV ZRUWK DQG HNH RI ZRQGURXV PLJKWV 6KDSHG OLNH D /DGLHV KHDG ZKLFK LV LQ WKH PLGGOH RI WKH RWKHU VWRQHV RQ KLV EDXOGULFN LV HPEOHPDWLF RI :LVGRP LQ WKLV LQVWDQFH (OL]D WKH )DHULH 4XHHQH KHUVHOIf WKH FKDUDFWHULVWLF HQGRZPHQW RI WKRVH LQ ZKRP WKH HJR KDV JLYHQ ZD\ WR WKH 6HOI 7KH GUDJRQ RQ WKH FUHVW RI KLV KHOPHW VLJQLILHV WKDW WKH VWDJH RI WKH IHPLQLQH FKWKRQLF ZLQJOHVV GUDJRQ KDV JLYHQ ZD\ WR WKDW RI KHU PDVFXOLQH FRXQWHUSDUW ZKRVH ZLQJV EHWRNHQ WKH VSLULWXDOLW\ ZKLFK ZLOO EH DVVRFLn DWHG ZLWK WKH VHFRQG KDOI RI WKH RSXV DOFK\PLFXP ,Q WKH /DGLHV KHDG DQG WKH ZLQJHG GUDJRQ ZH UHFRJQL]H WKH SUHn VHQFH RI IHPLQLQH DQG PDVFXOLQH WKDW LV LPSOLHG LQ WKH FRQn FHSW RI WKH DOFKHPLFDO 5HEXV WZRWKLQJfA ZKLFK UHVXOWV ZKHQ DFFRUGLQJ WR WKH PD[LP RI 0DULD 3URSKHWLVVD RXW RI WKH 7KLUG FRPHV WKH 2QH DV WKH )RXUWK WR DFKLHYH WKH IXn VLRQ RI FRQVFLRXV DQG XQFRQVFLRXV ZKLFK WKH DOFKHPLVWV WHUP WKHLU KHUPDSKURGLWH +LV ZDUOLNH VKLHOG DOO FORVHO\ FRXHUnG ZDV 1H PLJKW RI PRUWDOO H\H EH HXHU VHHQH 1RW PDGH RI VWHHOH QRU RI HQGXULQJ EUDV 6XFK HDUWKO\ PHWWDOV VRRQH FRQVXPHG EHQH %XW DOO RI 'LDPRQG SHUIHFW SXUH DQG FOHHQH ,W IUDPHG ZDV RQH PDVVLH HQWLUH PRXOG +HZHQ RXW RI $GDPDQW URFNH ZLWK HQJLQHV NHHQH 7KDW SRLQW RI VSHDUH LW QHXHU SHUFHQ FRXOG 1H GLQW RI GLUHIXOO VZRUG GLXLGH WKH VXEVWDQFH ZRXOG 7KH VDPH WR ZLJKW KH QHXHU ZRQW GLVFORVH

PAGE 226

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b [[[LLL[[[Yf $UWKXUnV GLDPRQG VKLHOG LV WKH VLQJOH PRVW H[FLWLQJ LPDJH LQ WKH HQWLUH %RRN RI 7KH )DHULH 4XHHQH LW LV WKH 3KLORn VRSKHUnV 6WRQH ,WV LQWURGXFWLRQ DW WKH PLGSRLQW RI WKH RSXV IROORZV WKH 5RVDULXP ZKLFK KROGV WKDW 7KH 6WRQH LV WKDW WKLQJ PLGZD\ EHWZHHQ SHUIHFW DQG LPSHUIHFW ERGLHV DQG WKDW ZKLFK QDWXUH KHUVHOI EHJLQV LV EURXJKW WR SHUIHFWLRQ WKURXJK WKH DUW 7KDW ZLWK WKH GLDPRQG VKLHOG 0HQ LQWR VWRQHV WKHUHZLWK KH FRXOG WUDQVPHZ FDOOV WR PLQG *HUKDUG 'RUQnV IDPRXV H[KRUWDWLRQ 7UDQVIRUP \RXUVHOYHV LQWR OLYLQJ SKLORVRSKLFDO VWRQHV (YHQ WKH LGHD WKDW WKH VKLHOG FDQ IXUWKHU WUDQVIRUP VWRQHV WR GXVW SURYHV WR EH FRPPRQSODFH DV LQ WKH DGYLFH WR 7DNH \H WKLV VWRQH DQG XVH 0LOOHUV &UDIW 7LOO LW EH ILQH SRZGHU 7KH VKLHOG KDV WKH SRZHU WR UHGXFH GXVW WR QRXJKW DW DOO WKLV LQn WHUHVWLQJO\ HQRXJK PD\ EH UHJDUGHG DV DQ DOOXVLRQ WR WKH

PAGE 227

IDFW WKDW DFFRUGLQJ WR WKH 5RVDULXP WKH 3KLORVRSKHUnV 6WRQH LV DOVR WKH VWRQH RI LQYLVLELOLW\ MXQJ FRPn PHQWLQJ RQ WKH DSSURSULDWHQHVV RI WKH GLDPRQG DV D V\PERO RI WKH 3KLORVRSKHUnV 6WRQH SRLQWV RXW WKDW WKLV LV QRW WKH UHVXOW RI D FRQVFLRXV FUHDWLRQ EXW LV D VSRQWDQHRXV SURGXFW RI WKH REMHFWLYH SV\FKH KH VWDWHV WKDW LW LV OLQNHG RUJDQLFDOO\ WR WKH DUFKHW\SDO V\PEROLVP RI WKH 3KLORVRSKHUnV 6WRQH ERWK DV UHJDUGV LWV GHVLJQDWLRQ DV SXUHVW ZDWHU DQG DV D V\QWKHVLV RI WKH IRXU DOFKHPLFDO HOHPHQWV E\ ZKLFK LV PHDQW RI FRXUVH WKH IRXU RULHQWLQJ IXQFWLRQV RI WKH SV\FKHf ,W LVD FXULRXV VSRUW RI QDWXUH WKDW WKH FKLHI FKHPLFDO FRQVWLWXHQW RI WKH SK\VLFDO RUJDQLVP LV FDUERQ ZKLFK LV FKDUDFWHUL]HG E\ IRXU YDOHQFLHV DOVR LW LV ZHOO NQRZQ WKDW WKH GLDPRQG LV D FDUERQ FU\VWDO &DUERQ LV EODFNFRDO JUDSKLWHEXW WKH GLDPRQG LV SXUHVW ZDWHU -XQJ SRLQWV RXW WKDW ZKHQ WKH 3KLORVRSKHUnV 6WRQH LV FRPn SDUHG WR WKH GLDPRQG ZKRVH SULVP FRQWDLQV DOO WKH KXHV RI WKH UDLQERZ LW VHUYHV DOVR DV DQ H[SUHVVLRQ RI WKH FDXGD SDYRQLV SHDFRFNnV WDLOf DV D ILQDO H[TXLVLWH WRXFK 6SHQVHUnV LPDJH RI WKH GLDPRQG VKLHOG VKLQLQJ VR EULJKWO\ WKDW 3KRHEXV JROGHQ IDFH LW GLG DWWDLQW DQG VLOXHU &\Qn WKLD ZH[HG SDOH DQG IDLQW VHUYHV DV D V\PEROLF UHVWDWHn PHQW RI WKH FRQLXQFWLR IRU WKH 3KLORVRSKHUnV 6WRQH DV WKH TXLQWHVVHQFH RU V\QWKHVLV RI 6RO DQG /XQD LV IDU JUHDWHU WKDQ WKH VXP RI LWV SDUWV DQG WKHUHIRUH SRVVHVVHV EULJKWn QHVV WKDW FDQ RYHUZKHOP WKDW RI HLWKHU 6RO RU /XQD DORQH ,W LV VLJQLILFDQW WKDW $UWKXU DV WKH ILOLXV SKLORVR

PAGE 228

SKRUXP KDV DUPRXU DQG VKLHOG HPEOHPDWLF QRW RI &KULVWLn DQLW\ DV 5HGFURVVHnV LV EXW RI WKH RSXV DOFK\PLFXP $In WHU WKH H[WLQJXLVKLQJ RI WKH HJR 5HGFURVVHnV FRQILQHPHQW LQ 2UJRJOLRnV GXQJHRQf WKH UDWLRQDO DGMXQFW RI WKH HJR WKH 'ZDUIHf LV GHQLHG DFFHVV WR WKH UHVRXUFHV RI FRQn VFLRXVQHVV DQG PXVW WKHUHIRUH VHDUFK LQZDUG GHHS LQWR WKH XQFRQVFLRXV VHHNLQJ RXW ILUVW WKH SRVLWLYH $QLPD 8QD DV VWHGIDVW 7UXWKf DQG WKHQ WKH 6HOI $UWKXU DV KHDXHQO\ *UDFHf ZKLFK ZLOO XOWLPDWHO\ UHSODFH WKH HJR DV WKH FHQn WHU RI WKH SHUVRQDOLW\ %HFDXVH WKH SRLQW RI YLHZ RI WKH 6HOI XQOLNH WKH HJR LQFOXGHV ERWK FRQVFLRXV DQG XQFRQn VFLRXV DVSHFWV RI WKH SV\FKH LW VLJQDOV WKH IXWXUH DWn WDLQPHQW RI D JUHDWO\ H[SDQGHG FRQVFLRXVQHVV ,Q WKH PHDQn WLPH 8QD DQG $UWKXU DUH FRPLQJ WR DLG 5HGFURVVH WKH 'ZDUIH WKHP JXLGLQJ HXHU ULJKW 9,,OLLf ZKLFK PHDQV WKDW UDWLRQDOLW\ LV IXQFWLRQLQJ DV LW ZDV LQWHQGHG WR IRU LW LV QRZ ZRUNLQJ WRZDUG WKH UHVWRUDWLRQ RI WKH EDODQFH WKDW ZDV ORVW RULJLQDOO\ LQ WKH )DOO RI 0DQ DQG WKLV LQGLFDWHV WKDW WKURXJK WKH FRUUHFW DSSOLFDWLRQ RI UDWLRQDOLW\DOOLHG ZLWK VWHGIDVW 7UXWK DQG KHDXHQO\ *UDFHPDQ FDQ DFKLHYH WKH 3URWHVWDQW GUHDP RI EHLQJ WKH DJHQW RI KLV RZQ 5HGHPSWLRQ DQG WKLV WRR LV WKH JUHDW JRDO RI WKH UR\DO DUW RI DOFKHP\ &$172 9,,, 6XPPDU\ 8QD DQG WKH 'ZDUIH DFFRPSDQLHG E\ 3ULQFH $UWKXU DQG

PAGE 229

KLV 6TXLUH PDNH WKHLU ZD\ WR 2UJRJOLRnV FDVWOH 7KH 6TXLUH VRXQGV KLV EXJOH DQG VXGGHQO\ DOO WKH JDWHV DQG GRRUV IO\ RSHQ 2UJRJOLR FRPHV UXVKLQJ IRUWK IURP LQQHU ERZUH IROORZHG E\ 'XHVVD PRXQWHG RQ KHU PDQ\ KHDGHG EHDVW ,Q WKH HQVXLQJ EDWWOH WKH FRYHU IDOOV RII WKH GLD PRQG VKLHOG DQG WKH EULJKWQHVV VR VWXQV 2UJRJOLR WKDW $Un WKXU LV DEOH WR GLVPHPEHU KLP UHGXFLQJ WKH JLDQW WR D PRQVWURXV PDV OLNH DQ HPSWLH EODGGHU 2EWDLQLQJ WKH NH\V RI HXHU\ LQQHU GRRU RI WKH FDVWOH IURP ,JQDUR WKH IRVWHU IDWKHU RI WKH *\DQW GHDG 3ULQFH $UWKXU RSHQV WKH GXQJHRQ ZKHUH 5HGFURVVH LV EHLQJ KHOG UHOHDVLQJ WKH SULn VRQHU ZKR DIWHU WKUHH PRQWKVn FRQILQHPHQW LV UHGXFHG WR D UXHIXOO VSHFWDFOH RI GHDWK DQG JKDVWO\ GUHUH 'XHVVD VWULSSHG DQG H[SRVHG DV D ORDWKO\ ZULQFNOHG KDJ ZLWK RQH IRRW OLNH DQ (DJOHV FODZ DQG WKH RWKHU OLNH D %HDUHV YQ HXHQ SDZ LV WKHQ VHQW WR JR DW KHU ZLOO DQG ZDQGHU ZD\HV YQNQRZQH 5HGFURVVH LV UHXQLWHG ZLWK 8QD DQG WKDW IDLUH FUHZ RI NQLJKWV UHPDLQ IRU D WLPH LQ 2UJRJOLRnV FDVWOH 7R UHVW WKHP VHOXHV DQG ZHDU\ SRZUHV UHSDLUH $QDO\VLV DQG &RPPHQWDU\ :LWK WKLV FDQWR ZH UHDFK WKH HTXLYDOHQW RI 5LSOH\nV )LIWK *DWH 2I 3XWUHIDFWLRQ ZKLFK LV FRQFHUQHG ZLWK WKH GHDWK DQG UHVXUUHFWLRQ RI WKH DUFDQH VXEVWDQFH 7KH N\O O\QJ %RG\HV LQWR FRUUXSF\RQ IRUWK OHG\QJ $QG DIWHU XQWR 5HJHUHUDW\RQ WKHP DEO\QJ )RU WK\QJV EH\QJ LQ (UWK Z\WK RZW GRZWH %H HQJHQGU\G RI URWDF\RQ RI WKH +HY\QV DERXWH

PAGE 230

LW LV D SURFHVV ZKLFK PD\ EH FRPSDUHG WR WKH VRZLQJ RI D VHHG LQ WKH JURXQG 6\WK &KU\VW GR LW Z\WQHV Z\WKRZW WKH JUD\QH RI :KHWH '\H LQ WKH JURXQG HQFUHVH PD\ WKRX QRW } 7KH H[DFW QDWXUH RI WKLV GHDWK -XQJ GHVFULEHVf§ ZLWK UHIHUHQFH WR DQ LOOXVWUDWLRQ IURP WKH 5RVDULXPf§WKXV 7KH VRQORYHU DOZD\V FRPHV WR DQ HDUO\ HQG DIWHU FRQn VXPPDWLQJ WKH KLHURVJDPRV ZLWK WKH PRWKHUJRGGHVV RI WKH 1HDU (DVW VR DIWHU WKH FRQLXQFWLR RSSRVLWRUXP GHDWKOLNH VWLOOQHVV UHLJQV :KHQ UKH RSSRVLWHV XQLWH DOO HQHUJ\ FHDVHV WKHUH LV QR PRUH IORZ 7KH ZDWHUn IDOO KDV SOXQJHG WR LWV IXOO GHSWK LQ WKDW WRUUHQW RI QXSWLDO MR\ DQG ORQJLQJ QRZ RQO\ D VWDJQDQW SRRO UHPDLQV ZLWKRXW ZDYH RU FXUUHQW 6R DW OHDVW LW DSn SHDUV ORRNHG DW IURP WKH RXWVLGH $V WKH OHJHQG WHOOV XV WKH SLFWXUH UHSUHVHQWV WKH SXWUHIDFWLR WKH FRUUXSWLRQ WKH GHFD\ RI D RQFH OLYLQJ WKH SLFWXUH LV DOVR HQWLWOHG &RQFHSWLR 7KH VD\V &RUUXSWLR XQLXV JHQHUDWLR HVW DOWHULXVf§WKH FRUUXSWLRQ RI RQH LV WKH JHQHUDWLRQ RI WKH RWKHU DQ LQGLFDWLRQ WKDW WKLV GHDWK LV DQ LQWHULP VWDJH WR EH IROORZHG E\ D QHZ OLIH $OWKRXJK YDULRXV RWKHU PHDQLQJV SOD\ D SDUW KHUH RQH FDQQRW ULG RQHVHOI RI WKH LPSUHVVLRQ WKDW WKH GHDWK LV D VRUW RI WDFLW SXQLVKPHQW IRU WKH VLQ RI WKH ZDJHV RI VLQ LV GHDWK 7KDW ZRXOG H[SODLQ WKH VRXOnV JUHDW GLVWUHVV DQG DOVR WKH EODFNQHVV PHQWLRQHG LQ WKH YDULDQW RI RXU SLFWXUH +HUH LV 6RO WXUQHG EODFNf 7KLV EODFNQHVV LV WKH LPPXQGLWLD XQFOHDQOLQHVVf DV LV SURYHG E\ WKH DEOX 7KH LQFHVW IRU FRQLXQF OXWLRQ EHKLQG LW V P FRQ 7KXV WKH GHVFHQW WLS WKDW VXEVHTXHQWO\ EHFRPHV QHFHVVDU\ WLR ZDV LQFHVWXRXV DQG WKHUHIRUH VLQIXO OHDYLQJ SRO 7KH QLJUHGR DOZD\V MXQFWLRQ ZLWK WHQHEURVLWDV WKH GDUNQHVV RI WKH WRPE DQG RI +DGHV QRW WR VD\ RI +HOO WKDW EHJDQ LQ WKH PDUULDJHEDWK KDV WRXFKHG URFNERWn WRP GHDWK GDUNQHVV DQG VLQ )RU WKH DGHSW KRZn HYHU WKH KRSHIXO VLGH RI WKLQJV LV VKRZQ LQ WKH DQn WLFLSDWHG DSSHDUDQFH RI WKH KHUPDSKURGLWH WKRXJK WKH SV\FKRORJLFDO PHDQLQJ RI WKLV LV DW m.FQQD ,W LV WKH KHUPDSKURGLWH 6SHQVHUnV $UWKXUf ZKR LQ WKH )LUVW 3DUDEOH RI WKH $XURUD &RQVXUJHQV 2I WKH %ODFN (DUWK ZLOO GHIHDW WKH (WKLRSLDQV 2UJRJOLRf DQG GHOLYHU WKH DGHSW 5HGFURVVHf IURP KHOO

PAGE 231

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n FRPH KRDUVH ZKR LV WKH PDQ WKDW OLYHWK NQRZLQJ DQG XQGHUVWDQGLQJ GHOLYHULQJ P\ VRXO IURP WKH KDQG RI KHOO"r :LWK WKLV LQ PLQG OHW XV QRZ H[DPLQH 7KH )DHULH 4XHHQH 6R ZLWK WKH 6TXLUH WKn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nG KLV GUHDGHG SRZUH LLLYf

PAGE 232

:KDW KDSSHQV ZKHQ 3ULQFH $UWKXUnV 6TXLUH VRXQGV KLV KRPH RI EXJOH LV UHPLQLVFHQW RI &KULVWnV +DUURZLQJ RI +HOO DV VHW IRUWK LQ WKH DSRFU\SKDO *RVSHO RI 1LFRGHPXV ZKHUH DW WKH VRXQG RI WKH WUXPSHWV WKH JDWHV RI +HOO VXGGHQO\ EXUVW RSHQ WR WKH GLVPD\ DQG FRQIXVLRQ RI 6DWDQ DQG KLV FRKRUWVf $V LQ WKH JRVSHO DFFRXQW WKH DUULYDO RI $UWKXU DV WKH UHGHHPHUf LV DVVRFLDWHG ZLWK HDUWKTXDNH DQG VWRUP IRU LQ WKH HQVXLQJ EDWWOH ZLWK 2UJRJOLR WKH JLDQWnV EORZV GLG OLNH DQ HDUWKTXDNH VKRZ YLLLf DQG WKH QRLVH RI WKH VWUXJJOH LV FRPSDUHG WR -RYHnV KXUOLQJ KLV WKXQGHUEROWV 7KURXJK ULYHQ FORXGV DQG PROWHQ ILUPDPHQW L[f 0DULH /RXLVH YRQ )UDQ] LQ KHU SV\FKRORJLFDO FRPPHQWDU\ WR WKH $XURUD &RQVXUJHQV SRLQWV RXW WKDW LQ WKH FRQWH[W RI WKH DOFKHPLFDO RSXV WKH SRVLWLYH $QLPD LV WKH EULQJHU RI JQRVLV RU WKH UHDOL]DWLRQ RI WKH VHOI ZKRVH HPLVVDU\ VKH LV 7KLV RI FRXUVH LV H[DFWO\ WKH IXQFWLRQ ZKLFK 8QD SHUIRUPV LQ 7KH )DHULH 4XHHQH (OVH VKRXOG WKLV 5HGFURVVH NQLJKW LQ ERQGV KDYH G\GH )RU ZKRVH GHOLXHUDQFH VKH WKLV 3ULQFH GRWK WKLWKHU JXLGH Lf 7KH DSSURSULDWHQHVV RI 6SHQVHUnV DOOXVLRQ WR &KULVWnV +DUURZLQJ RI +HOO LQ WKLV FRQWH[W LV DSSDUHQW LQ YLHZ RI WKH IDFW WKDW DFFRUGLQJ WR 0LVV YRQ )UDQ] WKH ELUWK RI WKH ILOLXV SKLORVRSKRUXP LV DOVR D UHVXUUHFWLRQ RU UHELUWK 7KLV LV WKH PRUH VLJQLn ILFDQW LQ WKDW SV\FKRORJLFDOO\ FRQVLGHUHG LW FRQn FHUQV QRW PHUHO\ WKH ELUWK RI WKH LQQHU PDQ WKH VHOI EXW DW WKH VDPH WLPH WKH UHELUWK RI PDQnV HJR FRQVFLRXVQHVV 7KH ELUWK RI WKH DOFKHPLFDO ILOLXV FRXOG EH LQWHUSUHWHG DV D UHVXUUHFWLRQ RI &KULVW LQ FRPSHQVDWRU\ FKDQJHG IRUP

PAGE 233

%HIRUH WKH FRQLXQFWLR WKHUH LV DV 0LVV YRQ )UDQ] REVHUYHV PXFK FRQWDPLQDWLRQ RI WKH YDULRXV DUFKHW\SHV :LVGRP EHn FDXVH RI WKH VH[XDO OLELGR FRORULQJ KHU UHODWLRQVKLS ZLWK WKH HJR UHSUHVHQWV D FRQIXVLRQ RI WKH $QLPDnV SRVLWLYH DQG QHJDWLYH DVSHFWV DQG IXUWKHUPRUH WKH 6HOI LV QRW \HW GLVWLQFW IURP WKH SRVLWLYH $QLPD QRU WKH 6KDGRZ IURP WKH QHJDWLYH ZKLFK PHDQV WKDW RFFDVLRQDOO\ HYHQ WKH 6HOI DQG WKH 6KDGRZ PHUJH WRJHWKHU 7KH UHDVRQ IRU WKLV VWDWH RI FRQIXVLRQ LV WKDW WKH LQLWLDO HQFRXQWHU ZLWK WKH $QLPD KDV FDXVHG DQ LQIODWLRQ RI WKH HJR FRQVFLRXVQHVV WDNLQJ FUHGLW IRU ZKDW LV QRW LWV RZQf IROORZHG E\ WKH FRQn VWHOODWLRQ RI WKH 6KDGRZ7KLV SDWWHUQ DV ZH KDYH VHHQ LV FOHDUO\ HYLGHQW LQ 7KH )DHULH 4XHHQH &HUWDLQO\ 2UJRJ OLRnV UHDFWLRQ WR $UWKXU DQG 5HGFURVVHnV UHDFWLRQ WR 2UJRJ OLR SRLQWV WR DQ LGHQWLW\ VKRZLQJ WKDW ZH DUH GHDOLQJ ZLWK VHSDUDWH DVSHFWV RI WKH VDPH DFWLRQ DQG LOOXVWUDWLQJ WKH LGHD UDWKHU FRPPRQ LQ DOFKHPLFDO DOOHJRU\ WKDW WKH $QLPD KDV DQ LOOHJLWLPDWH ORYHU ZKR SHUVRQLILHV WKH VKDGRZ 7KH 2UJRJOLR'XHVVD HSLVRGH LV LQ IDFW GLUHFWO\ SDUDOOHO WR D VLWXDWLRQ LQ WKH $XURUD &RQVXUJHQV ZKLFK 0LVV YRQ )UDQ] GHVFULEHV DV DXWRHURWLF DIIHFWV DQG IDQWDVLHV ZKLFK WKUHDn WHQ WR JDLQ WKH XSSHU KDQG ZKHQ FRQVFLRXVQHVV LV LQ WKH QLJUHGR VWDWH RI GLVVRFLDWLRQ 7KH VLJQLILFDQFH RI WKH +DUURZLQJ RI +HOO WKHQ LV WKDW LW UHSUHVHQWV WKH PRPHQW ZKHQ IRU WKH ILUVW WLPH FOHDU GLVWLQFWLRQV EHWZHHQ WKH YDULRXV DUFKHW\SDO ILJXUHV EHJLQ WR HPHUJH $PLG ZKDW -XQJ

PAGE 234

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nG $W IODVKLQJ EHDQLHV RI WKDW VXQVKLQ\ VKLHOG %HFDPH VWDUNH EOLQG DQG DOO KLV VHQVHV GD]nG 7KDW GRZQH KH WXPEOHG RQ WKH GXUWLH ILHOG $QG VHHPnG KLPVHOIH DV FRQTXHUHG WR \LHOG :KRP ZKHQ KLV PDLVWUHVVH SURXG SHUFHLXnG WR IDOO :KLOHV \HW KLV IHHEOH IHHW IRU IDLQWQHVVH UHHOG 9QWR WKH *\DQW ORXGO\ VKH JDQ FDOO KHOSH 2UJRJOLR KHOSH RU HOVH ZH SHULVK DOO $W KHU VR SLWWHRXV FU\ ZDV PXFK DPRRXnG +HU FKDPSLRQ VWRXW DQG IRU WR D\GH KLV IUHQG $JDLQH KLV ZRQWHG DQJU\ ZHDSRQ SURRXnG %XW DOO LQ YDLQH IRU KH KDV UHDG KLV HQG ,Q WKDW EULJKW VKLHOG DQG DOO WKHLU IRUFHV VSHQG 7KHPVHOXHV LQ YDLQH IRU VLQFH WKDW JODXQFLQJ VLJKW +H KDWK QR SRZUH WR KXUW QRU WR GHIHQG $V ZKHUH WKn$OPLJKWLHV OLJKWQLQJ EURQG GRHV OLJKW ,W GLPPHV WKH GD]HG H\HQ DQG GDXQWV WKH VHQVHV TXLJKW [L[[[Lf 6LQFH WKH 3KLORVRSKHUnV 6WRQH LV VLPXOWDQHRXVO\ D KHDYHQO\ PHGLFLQH DV ZHOO DV D GHDGO\ SRLVRQ LW PXVW EH FDUHIXOO\ FRQFHDOHG IURP WKRVH ZKR DUH VSLULWXDOO\ XQZRUWK\ RU LJ

PAGE 235

QRUDQW RI WKH DUW RI DOFKHP\ IRU DFFRUGLQJ WR WKH $XURUD &RQVXUJHQV HYHU\RQH ZKR LV LJQRUDQW RI LW LV LWV HQHP\ DQG WKDW QRW ZLWKRXW FDXVH 7KDW 2UJRJOLR VKRXOG KDYH EHHQ GHIHDWHG E\ WKH 6WRQH LV LQ DFFRUG ZLWK DOFKHPLFDO WKHRU\ LQ WKH 6HFUHWD VHFUHWRUXP E\ 3VHXGR$ULVWRWOH ZH ILQG WKDW D PDQ FDQQRW ILJKW RQH ZKR KDWK WKLV VWRQH LQ KLV KDQG 7R JD]H RQ WKH XQYHLOHG GLDPRQG VKLHOG KDV WKH VDPH HIIHFW DV WR GULQN IURP WKH ZDWHUV RI WKH PHUFXULn DO IRXQWDLQ IRU WKH 6WRQH DQG WKH IRXQWDLQ DUH RQH DQG WKH VDPH DV LV LQGLFDWHG E\ WKH IDFW WKDW RQH RI WKH V\QRQ\PV IRU WKH 6WRQH LV SXUHVW ZDWHU ,I ZH EHDU LQ PLQG WKDW LQ &DQWR 9,, 5HGFURVVH ZDV VR IDLQW LQ HXHU\ LR\QW DQG YDLQH 7KURXJK WKDW IUDLOH IRXQWDLQH ZKLFK KLP IHHEOH PDGH 7KDW VFDUVHO\ FRXOG KH ZHHOG KLV ERRWOHVV VLQJOH EODGH 9,,[Lf ZH ZLOO UHFRJQL]H DV WKH VDPH HYHQW RQ D GLIIHUHQW SODQH 2UJRJOLRnV UHDFWLRQ WR WKH VLJKW RI $Un WKXUnV XQYHLOHG VKLHOG KLV IHHEOH IHHW IRU IDLQWQHVVH UHHOG DQG +H KDWK QR SRZHU WR KXUW QRU WR GHIHQG $V UHJDUGV WR 5HGFURVVHnV VSLULWXDO GHYHORSPHQW ZH FDQ VHH WKHUHIRUH WKDW WKH PHGLFLQDO HIIHFW RI KLV GULQNLQJ IURP WKH PHUFXULDO IRXQWDLQ LV DFKLHYHG E\ WKH GLDPRQG VKLHOGnV SRLVRQRXV HIIHFW RQ 2UJRJOLR ZKR DV 5HGFURVVHnV 6KDGRZ UHSUHVHQWV WKH LQIHULRU DVSHFW RI WKH SHUVRQDOLW\ FRPn SDUDEOH WR D VLFNQHVV WKDW PXVW EH FXUHG LI SHUIHFW KHDOWK LV WR EH DWWDLQHG :KRPH ZKHQ WKH 3ULQFH WR EDWWHOO QHZ DGGUHVW $QG WKUHDWQLQJ KLJK KLV GUHDGIXOO VWURNH GLG VHH +LV VSDUNOLQJ EODGH DERXW KLV KHDG KH EOHVW

PAGE 236

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f 7KLV LV D IXUWKHU H[SUHVVLRQ RI WKH PRWLI RI WRUWXUH RU GLVPHPEHUPHQW 7KH XQFRQVFLRXVQHVV ZKLFK WKH 6KDGRZ UHSUHn VHQWV LV H[SUHVVHG LQ 2UJRJOLRnV EHLQJ LGHQWLILHG ZLWK DQ DJHG WUHH ZKLFK LQ WXUQ HFKRHV 7KH EXLOGHU 2DNH VROH NLQJ RI IRUUHVWV DOO ,YLLLf DV ZHOO DV WKH HSLVRGH RI )UDGXELR RQFH D PDQQRZ D WUHH ,,[[LLLf 7KH WUXQn FDWHG WUHH LV FRPPRQ LQ DOFKHPLFDO LFRQRJUDSK\ 7R FLWH RQH H[DPSOH WKH WLWOH SDJH RI WKH )UHQFK HGLWLRQ f RI )UDQFHVFR &RORQQDnV +\SQHURWRPDFKLD 3ROLSKLOL 9HQLFH f FRQWDLQV YDULRXV V\PEROV UHSUHVHQWLQJ WKH SURFHVV RI DOFKHPLFDO WUDQVIRUPDWLRQ DPRQJ ZKLFK LV D WUHH OLNH 6SHQVHUnV ZLWK PLJKWLH WUXQNH KDOIH UHQW, 6SHQVHUnV WUHH +LJK JURZLQJ RQ WKH WRS RI URFN\ FOLIW UHFDOOV WKH IROORZLQJ GHVFULSWLRQ RI WKH 6WRQH IURP WKH $UDELF %RRN RI

PAGE 237

,W LV D WUHH WKDW JURZV RQ WKH WRSV RI WKH PRXQWDLQV D \RXQJ PDQ ERUQ LQ (J\SW D SULQFH IURP $QGDOXVLD ZKR GHVLUHV WKH WRUPHQW RI WKH VHHNHUV +H KDV VODLQ WKHLU OHDGHUV 7KH VDJHV DUH SRZHUOHVV WR RSSRVH KLP FDQ VHH QR ZHDSRQ DJDLQVW KLP VDYH UHVLJQDn WLRQ QR FKDUJHU EXW NQRZOHGJH QR EXFNOHU EXW XQGHUn VWDQGLQJ ,I WKH VHHNHU ILQGV KLPVHOI EHIRUH KLP ZLWK WKHVH WKUHH ZHDSRQV DQG VOD\V KLP KH >WKH SULQFH@ ZLOO FRPH WR OLIH DJDLQ DIWHU KLV GHDWK ZLOO ORVH DOO SRZHU DJDLQVW KLP DQG ZLOO JLYH WKH VHHNHU WKH KLJKHVW SRZHU VR WKDW KH ZLOO DUULYH DW KLV GHVLUHG JRDO $V LQ WKH SDVVDJH IURP 2VWDQHV WKLV ILQDO SKDVH RI WKH VWUXJJOH EHWZHHQ 2UJRJOLR DQG $UWKXU HSLWRPL]HV WKH DOn FKHPLFDO SURFHVV IRU WKH GLVPHPEHUPHQW RI WKH JLDQW UHSUHn VHQWV WKH VHSDUDWLR HOHPHQWRUXP KLV UHGXFWLRQ WR DQ HPS WLH EODGGHU WKH RYHUFRPLQJ RI WKH GDQJHURXV SV\FKLF LQIODn WLRQ DQG 3ULQFH $UWKXU ZLWK KLV GLDPRQG VKLHOG WKH UHVXUn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
PAGE 238

$QG WUHPEOLQJ KRUURXU UDQ WKURXJK HXHU\ LR\QW )RU UXWK RI JHQWOH NQLJKW VR IRZOH IRUORUH :KLFK VKDNLQJ RII KH UHQW WKDW \URQ GRUH :LWK IXULRXV IRUFH DQG LQGLJQDWLRQ IHOO :KHUH HQWUHG LQ KLV IRRW FRXOG ILQG QR IORUH %XW DOO D GHHSH GHVFHQW DV GDUNH DV KHOO 7KDW EUHDWKHG HXHU IRUWK D ILOWKLH EDQHIXOO VPHOO %XW QHLWKHU GDUNHQHVVH IRZOH QRU ILOWK\ EDQGV 1RU QR\RXV VPHOO KLV SXUSRVH FRXOG ZLWKKROG (QWLUH DIIHFWLRQ KDWHWK QLFHU KDQGVf %XW WKDW ZLWK FRQVWDQW ]HDOH DQG FRXUDJH EROG $IWHU ORQJ SDLQHV DQG ODERXUV PDQLIROG +H IRXQG WKH PHDQHV WKDW 3ULVRQHU YS WR UHDUH :KRVH IHHEOH WKLJKHV YQKDEOH WR YSKROG +LV SLQHG FRUVH KLP VFDUVH WR OLJKW FRXOG EHDUH $ 5XHIXOO VSHFWDFOH RI GHDWK DQG JKDVWO\ GUHUH +LV VDG GXOO H\HV GHHSH VXQFN LQ KROORZ SLWV &RXOG QRW HQGXUH WKnYQZRQWHG VXQQH WR YLHZ +LV EDUH WKLQ FKHHNHV IRU ZDQW RI EHWWHU ELWV $QG HPSW\ VLGHV GHFHLXHG RI WKHLU GHZ &RXOG PDNH D VWRQ\ KDUW KLV KDS WR UHZ +LV UDZERQH DUPHV ZKRVH PLJKW\ EURZQHG ERZUV :HUH ZRQW WR ULXH VWHHOH SODWHV DQG KHOPHWV KHZ :HUH FOHDQH FRQVXPnG DQG DOO KLV YLWDOO SRZUHV 'HFD\G DQG DOO KLV IOHVK VKURQN YS OLNH ZLWKHUHG IORZUHV [[[YLL[OLf 5HGFURVVHnV VWDWHPHQW WKDW VLQFH KLV LQFDUFHUDWLRQ WKUHH 0RRQHV KDXH FKDQJHG WKULFH WKHLU KHZ DJUHHV H[DFWO\ ZLWK WKH OHQJWK RI WLPH SUHVFULEHG E\ 5LSOH\ 7R W\PH WKDW 1\JKWV EH SDVW Q\QW\ ,Q PR\VW KHWH NHSH WKHP IUR HQ\ WKLQJ 6RQH DIWHU E\ EODFNQHV WKRZ VKDOW HVS\ 7KDW WKH\ GUDZ IDVW WR SXWUHI\LQJ :K\FK WKRZ VKDOW DIWHU PDQ\ FROHUV EU\QJ 7R SHUI\W :K\WHQHV Z\WK 3DF\HQFH HV\O\ $QG VR WK\ VHGH LQ K\V QDWXUH VKDOO PXOWHSO\ ,W LV VLJQLILFDQW WKDW 5HGFURVVH :KR HDUVW LQ IORZUHV RI IUHVKHVW \RXWK ZDV FODG [OLLf LV QRZ VKURQN YS OLNH ZLWKHUHG IORZUHV IRU WKH LPDJH RI WKH SODQW IORZHULQJ DQG WKHQ IDGLQJ LV YHU\ FRPPRQ LQ DOFKHP\ 5XGROI %HU

PAGE 239

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n ILHV WKDW WKH HJR LV FUXFLILHG GHDG DQG EXULHG DQG 3ULQFH $UWKXUnV OHDGLQJ 5HGFURVVH RXW RI WKH GHHSH GHVn FHQW DV GDUNH DV KHOO DQG EDFN LQWR WKH XQDFFXVWRPHG OLJKW RI GD\ WHVWLILHV WR WKH ILQDO GHHQHUJL]LQJ RI WKH HYLO DVVRFLDWHG ZLWK WKH SHUVRQDO XQFRQVFLRXV 7R GR KHU G\H TXRWK 9QDf ZHUH GHVSLJKW $QG VKDPH WnDXHQJH VR ZHDNH DQ HQLP\ %XW VSRLOH KHU RI KHU VFDUORW UREH DQG OHW KHU IO\ 6R DV VKH EDG WKDW ZLWFK WKH\ GLVDUDLG $QG UREG RI UR\DOO UREHV DQG SXUSOH SDOO $QG RUQDPHQWV WKDW ULFKO\ ZHUH GLVSODLG

PAGE 240

1H VSDUHG WKH\ WR VWULS KHU QDNHG DOO 7KHQ ZKHQ WKH\ KDG GHVSRLOG KHU WLUH DQG FDOO 6XFK DV VKH ZDV WKHLU H\HV PLJKW KHU EHKROG 7KDW KHU PLVVKDSHG SDUWV GLG WKHP DSSDOO $ ORDWKO\ ZULQFNOHG KDJ LOO IDXRXUHG ROG :KRVH VHFUHW ILOWK JRRG PDQQHUV ELGGHWK QRW EH WROG :KLFK ZKHQ WKH NQLJKWV EHKHOG DPD]G WKH\ ZHUH $QG ZRQGUHG DW VR IRZOH GHIRUPHG ZLJKW 6XFK WKHQ VDLG 9QDf DV VKH VHHPHWK KHUH 6XFK LV WKH IDFH RI IDOVKRRG VXFK WKH VLJKW 2I IRZOH 'XHVVD ZKHQ KHU ERUURZHG OLJKW ,V ODLG DZD\ DQG FRXQWHUIHVDXQFH NQRZQH 7KXV ZKHQ WKH\ KDG WKH ZLWFK GLVUREHG TXLJKW $QG DOO KHU ILOWK\ IHDWXUH RSHQ VKRZQH 7KH\ OHW KHU JRH DW ZLOO DQG ZDQGHU ZD\HV YQ NQRZQH [OY[OYL [OL[f 8QD KDV JRRG UHDVRQ IRU VKRZLQJ PHUF\ WR 'XHVVD IRU WKRXJK WKH PRRQ KDV WZR VLGHV WKHUH LV \HW RQO\ RQH PRRQ :LWK 2UJRJOLR GHDG 'XHVVD KDV QR SRZHU DV LW ZDV 5HGFURVVHnV HURWLFLVP WKDW PDGH KHU ZKDW VKH ZDV 1RZ WKDW KHU OLJKW LV UHFRJQL]HG DV ERUURZHG 'XHVVD DV WKH QHJDWLYH $QLPD FDQ GURS EDFN LQWR WKH XQFRQVFLRXV WR JR DW KHU ZLOO DQG ZDQGHU ZD\HV YQNQRZQH 5HGFURVVH FDQ IRU WKH ILUVW WLPH VHH 8QD DV WKH VXEOLPH ILJXUH WKDW VKH ZDV IURP WKH VWDUW ZKHQ VKH FDPH EHIRUH WKH &RXUW RI WKH )DHU\ 4XHHQ WR VHHN D FKDPSLRQ WR FRPEDW WKH GUDJRQ WKDW ZDV PHQDFLQJ KHU SDUHQWV WKH DQFLHQW .LQJ DQG 4XHHQ +DYLQJ ILQDOO\ RYHUn FRPH SHUVRQDO HYLOWKRXJK KH KDV VWLOO WR FRQTXHU GHVSDLU WKDW IROORZV UHFRJQLWLRQ RI JXLOW 5HGFURVVH FDQ EHJLQ WR VWUHQJWKHQ KLPVHOI WR GR EDWWOH ZLWK SXUHO\ FROOHFWLYH HYLO :KDW OLHV DKHDG 5LSOH\ GHVFULEHV YHU\ DSWO\ WKXV

PAGE 241

)RU O\NH DV 6RZOHV DIWHU SD\Q\V WUDQV\WRU\ %H EURXJKW LQWR SDUDG\FH ZKHUH HYHU \V \R\IXOO O\IH 6R VKDOO RXU 6WRQH DIWHU K\V GDUNQHV LQ 3XUJDWRU\ %H SXUJHG DQG MR\Q\G LQ (OHPHQWV Z\WKRXWH VWU\IH 5HMR\VH WKH ZK\WHQHV DQG EHZW\ RI K\V Z\IH $QG SDVVH IUR WKH GDUNQHV RI 3XUJDWRU\ WR O\JKW 2I SDUDG\FH LQ :K\WQHV (O\[HU JUHW P\JKWOrA &$172 ,; 6XPPDU\ 3ULQFH $UWKXU H[SODLQLQJ WKDW H[DFW NQRZOHGJH RI KLV OLQHDJH DQG VLUH IURP PH DUH KLGGHQ \HW WHOOV WKDW KLV HGXFDWLRQ ZDV VXSHUYLVHG E\ 0HUOLQ WKH PDJLFLDQ DQG UHn FRXQWV KRZ KLV SUHVHQW TXHVW ZDV RFFDVLRQHG E\ D GUHDP RU YLVLRQ RI WKH )DHULH 4XHHQH %HIRUH GHSDUWLQJ RQ KLV RZQ $UWKXU JLYHV 5HGFURVVH D ER[H RI 'LDPRQG FRQWDLQLQJ GURSV RI D ZRQGURXV OLTXRU WKDW FDQ KHDO DQ\ ZRXQG DQG 5HGn FURVVH JLYHV $UWKXU D ERRN LQ ZKLFK KLV 6DXHRXUV WHVWDn PHQW :DV ZULW ZLWK JROGHQ OHWWHUV 5HGFURVVH DQG 8QD WKHQ HQFRXQWHU 6LU 7UHXLVDQ ZLWK D KDQJPDQnV QRRVH DURXQG KLV QHFN IOHHLQJ IURP $ PDQ RI KHOO WKDW FDOOV KLPVHOI 'HVSDLUH 6LU 7UHXLVDQ WHOOV WKDW DQRWKHU NQLJKW 6LU 7HUZLQ KDG VXFFXPEHG WR WKH FKDUPHG VSHHFKHV RI 'HV SDLUH DQG NLOOHG KLPVHOI ZLWK D UXVW\ NQLIH $W 5HGn FURVVHn V XUJLQJ 6LU 7UHXLVDQ JXLGHV WKHP WR WKH 'HQ RI 'HVSDLUH ZKLFK LV LQ DQ KROORZ FDXH )DUUH YQGHUQHDWK D FUDJJLH FOLIW 5HGFURVVH OLVWHQV VSHOOERXQG DV 'HV SDLUH SRLQWLQJ WR 6LU 7HUZLQnV FRUSVH SUDLVHV GHDWK +H WKHUH GRHV QRZ HQLR\ HWHUQDOO UHVW $QG KDSSLH HDVH ZKLFK WKRX GRHVW ZDQW DQG FUDXH $QG IXUWKHU IURP LW GDLO\ ZDQGHUHVW

PAGE 242

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n UHVSRQGLQJ WR WKH LQWHJUDWLRQ RI FRQWHQWV RI WKH FROOHFWLYH XQFRQVFLRXV LV LQ HIIHFW D GXSOLFDWLRQ RI WKH ILUVW DQG LV V\PEROL]HG E\ WKH PDNLQJ RI WKH 5HG (OL[LU 7KH WZR SKDVHV UHODWH WR HDFK RWKHU DV HURV WKH FKDUDFWHULVWLFDOO\ IHPLQLQH TXDOLW\ RI UHODWHGQHVVf WR ORJRV WKH PDVFXOLQH TXDOLW\ RI GLVFULPLQDWLRQf )URP WKH VWDQGSRLQW RI WKH HJR WKH WZR SKDVHV DUH HDFK GLVWLQJXLVKHG E\ HPSKDVLV RQ WKH UHODWLRQVKLS ZLWK WKH 6KDGRZ DQG WKH 6HOI UHVSHFWLYHn O\ :H KDYH WKXV UHDFKHG WKH SRLQW LQ WKH RSXV ZKHUH ZKDW KDV SUHYLRXVO\ EHHQ H[SHULHQFHG RQ WKH SK\VLFDO OHYHO ZLOO QRZ EH H[SHULHQFHG RQ WKH OHYHO RI WKH VSLULW

PAGE 243

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nRWKHU IRU WR ILJKW :LWK 9QDHV IRH WKDW DOO KHU UHDOPH GLG SUD\ %XW VKH QRZ ZHLJKLQJ WKH GHFD\HG SOLJKW $QG VKUXQNHQ V\QHZHV RI KHU FKRVHQ NQLJKW :RXOG QRW D ZKLOH KHU IRUZDUG FRXUVH SXUVHZ 1H EULQJ KLP IRUWK LQ IDFH RI GUHDGIXOO ILJKW 7LOO KH UHFRXHUHG KDG KLV IRUPHU KHZ )RU KLP WR EH \HW ZHDNH DQG ZHDULH ZHOO VKH NQHZ [YLLL[[f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

PAGE 244

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n PRQG 6SHQVHU E\ SODFLQJ KLV (OL[LU LQ D ER[H RI 'LDn PRQG LV VXJJHVWLQJ TXLWH FRUUHFWO\f WKDW WKH (OL[LU LV FRQWDLQHG LQ WKH 6WRQH ,W LV VLJQLILFDQW WKDW WKH JLIWV ZKLFK $UWKXU DQG 5HGFURVVH H[FKDQJH DUH UHVSHFWLYHO\ WKH DOFKHPLFDO (OL[LU DQG WKH 1HZ 7HVWDPHQW VLQFH WKH ZRXQG ZKLFK WKH (OL[LU FDQ KHDO LV SV\FKRORJLFDO UDWKHU WKDQ SK\VLFDO ZKDW LV QRWHZRUWK\ DERXW WKLV H[FKDQJH LV WKDW HDFK JLIW LV WKH HTXLYDOHQW RI WKH RWKHU IRU HDFK LV DEOH VRXOHV WR VDXH )XUWKHUPRUH WKRXJK 5HGFURVVH LV KLPVHOI HPEOHPDWLF RI WKH &KULVWLDQ IDLWK WKHUH LV QRWKLQJ VSHFLn ILFDOO\ &KULVWLDQ DERXW 3ULQFH $UWKXU D IDFW ZKLFK LV RIn WHQ RYHUORRNHGf $UWKXU DQG 5HGFURVVH WRJHWKHU UHSUHVHQW D V\QWKHVLV RI SDJDQ DQG &KULVWLDQ WUDGLWLRQV IRU VLQFH WKH ILOLXV SKLORVRSKRUXP RU IRU WKDW PDWWHU WKH 6WRQHf LV LWVHOI DQ H[SUHVVLRQ RI WKH VDPH DUFKHW\SH WKH GLYLQH 6HOIf DV WKDW ZKLFK XQGHUOLHV WKH &KULVW LPDJH WKH WZR WUDGLWLRQVLQ WKH ILQHVW VSLULW RI 5HQDLVVDQFH V\QFUHWLVP

PAGE 245

DUH VKRZQ WR EH LQ IXQGDPHQWDO DJUHHPHQW SV\FKRORJLFDOO\ ,QGHHG DV KDV EHHQ SRLQWHG RXW SUHYLRXVO\ LQ WKLV VWXG\ LW ZDV ZLGHO\ IHOW WKDW IURP D &KULVWLDQ DOFKHPLVWnV SRLQW RI YLHZ WKH DUW RI DOFKHP\ ZDV WKH ZD\ LQ ZKLFK &KULVWnV PHVVDJH RI 6DOYDWLRQ FRXOG EH UHDOL]HG LQ WKH LQGLYLGXDOnV RZQ VRXO Y 2QH RI WKH PDMRU FUX[HV LQ 6SHQVHU FULWLFLVP LV WKH VRFDOOHG SUREOHP RI $UWKXU -RVHSKLQH :DWHUV %HQQHWW H[n SUHVVHV PLVJLYLQJV ZKLFK DUH VKDUHG E\ PDQ\ VFKRODUV 7KHUH DUH WKUHH GLIILFXOWLHV LQ 6SHQVHUnV SUHVHQWDn WLRQ RI $UWKXU KH DSSHDUV EXW VHOGRP KLV DSSHDUDQn FHV DUH XQUHODWHG WR RQH DQRWKHU DQG LQ IRXU RIn WKH VL[ ERRNV KH VHUYHV DV D SLHFH RI PDFKLQHU\ LQWURn GXFHG DW D SUHGHWHUPLQHG SRLQW &DQWR YLLLf DQG GLVn PLVVHG LQ WLPH WR OHDYH WKH FXOPLQDWLQJ HSLVRGH RI f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n SUHVHQWV KDV EHHQ FRQVWHOODWHG 7KH UHDVRQ WKHUHIRUH WKDW LW LV WKH WLWXODU KHUR RI WKH ERRN UDWKHU WKDQ $Un WKXU ZKR ILJXUHV LQ WKH FXOPLQDWLQJ HSLVRGH RI WKH ERRN

PAGE 246

LV WKDW ZKLOH WKH FUHDWLRQ RI WKH SKLORVRSKLFDO VWRQH VLJQLILHG E\ WKH DSSHDUDQFH RI $UWKXUf LV WKH JRDO RI WKH ILUVW KDOI RI WKH RSXV WKH JRDO RI WKH VHFRQG KDOI LV IRU 5HGFURVVH WR WUDQVIRUP KLPVHOI LQWR WKH OLYLQJ SKLORVRn SKLFDO 6WRQH 7KDW LV ZK\ ZH KHDU QR PRUH RI $UWKXU DIWHU KH KDV H[FKDQJHG JLIWV ZLWK 5HGFURVVH IRU 5HGFURVVH ZLOO KLPVHOI WDNH RQ WKH SHUIHFWLRQ RI YLUWXH LQ WKLV LQVWDQFH +ROLQHVVf RI ZKLFK $UWKXU LV WKH DUFKHW\SDO V\PERO DQG LQ WKLV ZD\ DFKLHYH YLFWRU\ RYHU WKH ZLQJHG PHUFXULDO GUDJRQ 7KH LGHD WKDW WKH VHFRQG SKDVH RI WKH RSXV LV D UHSHn WLWLRQ RI WKH ILUVW LV VHW IRUWK TXLWH FOHDUO\ LQ WKHf /LEHU 3DWULV 6DSLHQWLDH 7KHQ WDNH WKRZ K\P RXW RI K\V &KDPEHU DQG %HG $QG WKRZ VFKDOW WKHQ ILQGH D IL[W %RG\ DV KH ZHUH GHDG .HHSH WKRZ K\P FORVH DQG VHFUHWO\ ZLWKLQ WK\ SODFH $QG WKDQNH $OPLJKW\ *RG RI K\V JUDFH 1RZ P\ 6RQ EHIRUH WK\V DIWHU WK\V 6FLHQFH KDYH ULJKW ZHOO VRXJKW $QG WKXV WR WKHH KDYH WKH :KLWH (OL[HU SDUIHWO\ ZURXJKW $QG LI WKRZ ZLOW RI WKH 5HG (OL[HU SDUIHWO\ XQGHUn VWDQG 7KRZ PXVW WDNH VXFK DQRWKHU ZDUNH LQ KDQG 0\ 6RQ ZKDQ WKRZ KDVW ZURXJKW PRUH XSRQ PRUH 'XEOLQJ HDFK WLPH DV VDLG EHIRUH 0DNH WKRZ ZKDW WKRZ ZLOW RI 5HG VXEVWDQFH $V GLG WKH :KLWH ZDUNH LQ PDQQHU RI *RYHUQDQFH 5HGFURVVH LV WKH IL[W %RG\ DV KH ZHUH GHDG DQG WKH &KDPEHU DQG %HG LV RI FRXUVH 2UJRJOLRnV GXQJHRQ IURP ZKLFK 5HGFURVVH ZDV UHOHDVHG E\ 3ULQFH $UWKXU DV DQ H[n SUHVVLRQ RI KHDXHQO\ JUDFH $V ZH VKDOO VHH 8QD ZLOO .HHSH K\P FORVH DQG VHFUHWO\ ZLWKLQ WK\ SODFH IRU

PAGE 247

ZHLJKLQJ WKH GHFD\HG SOLJKW $QG VKUXQNHQ V\QHZHV RI 5HGFURVVH VKH ZLOO QRW EULQJ KLP IRUWK LQ IDFH RI GUHDG IXOO ILJKW 7LOO KH UHFRXHUHG KDG KLV IRUPHU KHZ %XW WKH PRVW LPPHGLDWH WDVN RQ WKH ZD\ WRZDUG WKH DFKLHYHPHQW IW RI WKH 5HG (OL[LU ZKLFK ZLOO FXOPLQDWH LQ WKH IXULRXV WKUHHGD\ ILJKW ZLWK WKH ZLQJHG GUDJRQ ZLOO EH WR RYHUn FRPH WKH GHDGOLHVW DQG PRVW GDQJHURXV DVSHFW RI WKH QLJUH GR V\PEROL]HG E\ WKH FRQIURQWDWLRQ ZLWK 'HVSDLUH -XVW DV LQ WKH DERYHTXRWHG SDVVDJH IURP WKH /LEHU 3DWULV 6DSLHQWLDH WKH 3KLORVRSKHU SHUIRUPV WKH ZKLWH ZDUN EXW OHDYHV WKH UHG ZDUN WR KLV SXSLO VR LQ 7KH )DHULH 4XHHQH WKH ILUVW SKDVH RI WKH RSXV KDYLQJ MXVW EHHQ DFKLHYHG E\ 3ULQFH $UWKXU 5HGFURVVH PXVW QRZ JR RQ WR WKH VHFRQG SKDVHWKH UHG ZRUNRQ KLV RZQ $V 5HGFURVVH DQG 8QD MRXUQH\ WRZDUG WKH 'HQ RI 'HVSDLUH LW LV DSSDUHQW WKDW WKH VHFRQG SKDVH RI WKH RSXV KDV LQGHHG EHJXQ IRU RQFH DJDLQ ZH ILQG WKH SDWWHUQ RI WKH FLUFXODU GLVWLOODWLRQWKH VWUXFWXUDO SULQFLSOH VR W\SLFDO RI DOFKHPLFDO OLWHUDWXUH ZKLFK 0LVV YRQ )UDQ] LQ KHU FRPPHQWDU\ RQ WKH $XURUD &RQ VXUJHQV UHIHUV WR DV D VSLUDO SURFHGXUHf§ZKLFK EULQJV XV WR WKH YHU\ EHJLQQLQJ WR &DQWR DQG WKH MRXUQH\ WKURXJK WKH :DQGULQJ :RRG 0DNH QR PLVWDNH DERXW LW WKLV LV WKH VDPH MRXUQH\ DQG WKH VDPH GHVWLQDWLRQ IRU (UURXUV 'HQ DQG WKH 'HQ RI 'HVSDLUH DUH WKH VDPH SODFH WKH GLIn IHUHQW QDPHV LQGLFDWLYH PHUHO\ RI D FDXVH DQG HIIHFW UHODn WLRQVKLS LH UHFRJQLWLRQ RI HUURU JLYLQJ ULVH WR GHV

PAGE 248

SDLUf :KHQ 5HGFURVVH ILUVW ZHQW WKURXJK WKH :DQGULQJ :RRG LWV OXVKQHVV ZDV HPSKDVL]HG E\ WKH H[WHQVLYH FDWDn ORJXH RI WUHHV DQG KH KLPVHOI ZDV LQ SULPH SK\VLFDO FRQn GLWLRQ WUXO\ LQ WKH EORRP RI \RXQJ PDQKRRG EXW QRZ KH LV KDUGO\ PRUH WKDQ D FRUSVH DQG WKH :DQGULQJ :RRG KDV FKDQJHG DFFRUGLQJO\ IRU DOO WKDW UHPDLQV RI LWV IRUPHU VSOHQGRU DUH ROG VWXEV RI WUHHV :KHUHXSRQ QRU IUXLW QRU OHDIH ZDV HXHU VHHQH ,;[[LYf 7KH VWRUP WKDW KDV ZUHDNHG KDYRF RQ WKLV :RRG LV WKH YHU\ RQH IURP ZKLFK 5HGn FURVVH DQG 8QD ILUVW VRXJKW FRYHU 7KH GD\ ZLWK FORXGHV ZDV VXGGHLQH RXHUFDVW $QG DQJU\ ,RXH DQ KLGHRXV VWRUPH RI UDLQH 'LG SRXUH LQWR KLV /HPDQV ODS ,YLf 7KLV LV WKH DPH VWRUP DV WKDW ZKLFK RFFXUUHG DIWHU WKH FRQLXQFWLR LQ &DQWR 9,, ZKHUH 2UJRJOLR ZDV ,RXH DQG 'XHVVD KLV /HPDQ :H ZLOO UHFDOO WKDW LW ZDV WKH VKDGLH JURXH LQ &DQWR 7KDW SURPLVHG D\GH WKH WHPSHVW WR ZLWKVWDQG :KRVH ORIWLH WUHHV \FODG ZLWK VRPPHUV SULGH 'LG VSUHG VR EURDG WKDW KHDYHQV OLJKW GLG KLGH ,YLLf 7KH :KLWH :RUNLQ NHHSn LQJ ZLWK WKH V\PEROLVP RI ZKLWH ZKLFK LV DVVRFLDWHG ZLWK /XQDUHSUHVHQWV WKDW SDUW RI WKH RSXV DOFK\PLFXP ZKLFK KDV IHPLQLQH VLJQLILFDQFH DQG LV WKHUHIRUH FKDUDFWHUL]HG E\ XQFRQVFLRXVQHVV DV LQGLFDWHG E\ WKH IDFW WKDW WKH IROLDJH RI WKH WUHHV KHDYHQV OLJKW GLG KLGH /LJKW LQ WKH VHQVH RI FRQVFLRXV GLVFULPLQDWLRQ LQVLJKW DQG XQGHUn VWDQGLQJ LV DVVRFLDWHG ZLWK WKH 5HG :RUN ZKLFK DFFRUn GLQJO\ KDV PDVFXOLQH VLJQLILFDQFH 7KXV LW LV WKDW WKH ,

PAGE 249

IRUPHUO\ OXVK IROLDJH RI XQFRQVFLRXVQHVV KDV EHHQ VWULSSHG DZD\ DQG VLQFH WKH VWXEV RI WUHHV FDQ QR ORQJHU KLGH KHDYHQV OLJKW WKH GHSUHVVLQJ EDUUHQ ODQGVFDSH LV SDUDn GR[LFDOO\ WR EH UHJDUGHG DV DQ H[SUHVVLRQ RI KRSH IRU MXVW DV WKH HPDFLDWHG FRQGLWLRQ RI 5HGFURVVHnV ERG\ VLJQLILHV WKDW WKHUH LV QRZ YHU\ OLWWOH OHIW RI WKH IRUPHU HJR ZKLFK ZDV UHVSRQVLEOH IRU WKH VSLULWXDO GDUNQHVV WKDW IRUPHUO\ HQJXOIHG KLP VR DOVR GRHV WKH QRZ XQREVWUXFWHG KHDYHQ VLJQLI\ WKDW WKLV LV WKH VHFRQG KDOI RI WKH RSXV ZKHUH GDUNQHVV LV UHSODFHG E\ OLJKW DQG ZKDW ZDV KLGGHQ LV PDGH PDQLIHVW 6LQFH WKLV SUHVHQW YHUVLRQ RI WKH MRXUQH\ WKURXJK WKH :DQGULQJ :RRG LV QHZ RQO\ LQVRIDU DV LW LV EHLQJ H[SHULn HQFHG RQ D KLJKHU SODQH RI DZDUHQHVV WKDQ SUHYLRXVO\ 5HGn FURVVHnV EHKDYLRU ZLOO QHFHVVDULO\ EH WKH VDPH DV EHIRUH IRU WKH HYHQW EHLQJ GHVFULEHG KDV LQGHHG DOUHDG\ RFFXUUHG DQG WKH RQO\ GLIIHUHQFH ZLOO EH WKDW 5HGFURVVH ZLOO FRPH WR XQGHUVWDQG WKH LPSOLFDWLRQV RI ZKDW KDV KDSSHQHG WR KLP 7KDW WKLV LV VR LV UHYHDOHG ZKHQ KH HQFRXQWHUV 6LU 7UHXL VDQ ZKR VWLOO ZHDULQJ D QRRVH DURXQG KLV QHFN KDV PDn QDJHG WR HVFDSH IURP WKH FOXWFKHV RI 'HVSDLUH ZKLOH KLV FRPSDQLRQ 6LU 7HUZLQf§ZKR OLNH 5HGFURVVH LQ KLV DIIDLU ZLWK 'XHVVD ORXnG D /DGLH *HQW 7KDW KLP DJDLQH ORXnG LQ WKH OHDVW GHJUHH [[YLLf KDV VXFFXPEHG NLOOLQJ KLPVHOI ZLWK D UXVW\ NQLIH :KHQ 6LU 7UHXLVDQ WHOOV 5HGFURVVH WKDW KH KRSHV WKDW *RG \RX QHXHU OHW KLV FKDUPHG

PAGE 250

VSHHFKHV KHDUH [[[f 5HGFURVVHnV UHSO\ FRQYH\V D IDPLOLDU ODFN RI LQVLJKW +RZ PD\ D PDQ VDLG KHf ZLWK LGOH VSHDFK %H ZRQQH WR VSR\OH WKH &DVWOH RI KLV KHDOWK" [[[Lf 7KLV LV H[DFWO\ FRPSDUDEOH LQ WRQH WR KLV QDLYH UHSO\ WR 8QDnV ZDUQLQJ LQ &DQWR ZKHQ KH VWDWHG WKDW 9HUWXH JLXHV KHU VHOIH OLJKW WKURXJK GDUNHQHVVH IRU WR ZDGH ,[LLf 7KH PDLQ GLIIHUHQFH EHWZHHQ WKH 0HOXVLQD LQ &DQWR DQG 'HVSDLUH LQ &DQWR ,; LV WKDW WKH RQH LV IHPDOH DQG WKH RWKHU LV PDOH D VLWXDWLRQ ZKLFK UHIOHFWV WKDW IDFW WKDW LW LV WKH IHPLQLQH SULQFLSOH ZKLFK LV DVVRFLDWHG ZLWK WKH ILUVW KDOI RI WKH RSXV WKH :KLWH :RUNf ZKLOH LQ WKH VHn FRQG KDOI WKH 5HG :RUNf WKH SROHV UHYHUVH DQG IHPLQLQH EHFRPHV PDVFXOLQH %XW MXVW DV WKHUH LV RQO\ RQH KROORZ FDXH ,[L t ,;[[[LLLf VR WKH 0HOXVLQD DQG 'HVSDLUH DUH RQH ,W LV QR DFFLGHQW WKDW ERWK DUH GHVFULEHG LQ VWULNLQJO\ VLPLODU IDVKLRQ 7KXV LQVLGH KHU GDUNVRPH KROH WKH 0Hn OXVLQD OD\ YSRQ WKH GXUWLH JURXQG +HU KXJH ORQJ WDLOH KHU GHQ DOO RXHUVSUHG
PAGE 251

+LP WR DYHQJH EHIRUH KLV EORXG ZHUH FROG ,;[[[YLLf 5HGFURVVH KRZHYHU ILQGV 'HVSDLUH QR OHVV GDQJHURXV WKDQ WKH 0HOXVLQD DQG KHU PRUWDO VWLQJ IRU WKH ZRUGV ZKLFK 5HGFURVVH KDG HDUOLHU GLVPLVVHG DV LGOH VSHDFK QRZ DV D VZRUGV SRLQW WKURXJK KLV KDUW GLG SHUVH 7KRX ZUHWFKHG PDQ RI GHDWK KDVW JUHDWHVW QHHG ,I LQ WUXH EDOODQFH WKRX ZLOW ZHLJK WK\ VWDWH )RU QHXHU NQLJKW WKDW GDUHG ZDUOLNH GHHGH 0RUH OXFNOHVVH GLVDXHQWXUHV GLG DPDWH :LWQHVVH WKH GRQJHRQ GHHSH ZKHUHLQ RI ODWH 7K\ OLIH VKXW YS IRU GHDWK VR RIW GLG FDOO $QG WKRXJK JRRG OXFNH SURORQJHG KDWK WK\ GDWH
PAGE 252

RQ WKH JUHHQH $QG WKURZQH DERXW WKH FOLIIV ,;U[[[LYf QHDU WKH HQWUDQFH WR WKH 'HQ RI 'HVSDLUH WHVWLI\ WR WKH SV\FKRORJLFDO GDQJHUV WKDW DFFRPSDQ\ UHDOL]DWLRQ RI WKH H[LVWHQFH RI WKH 6KDGRZ DQG DOO WKDW LW UHSUHVHQWV 5HG FURVVH WRR ZRXOG KDYH SHULVKHG KDG QRW 8QD EHHQ WKHUH WR VDYH KLP 7KLV DV -XQJ SRLQWV RXW LV E\ QR PHDQV DQ XQXVXDO VLWXDWLRQ 6HOINQRZOHGJH LV DQ DGYHQWXUH WKDW FDUULHV XV XQH[SHFWHGO\ IDU DQG GHHS (YHQ D PRGHUDWHO\ FRPSUHn KHQVLYH NQRZOHGJH RI WKH VKDGRZ FDQ FDXVH D JRRG GHDO RI FRQIXVLRQ DQG PHQWDO GDUNQHVV VLQFH LW JLYHV ULVH WR SHUVRQDOLW\ SUREOHPV ZKLFK RQH KDG QHYHU UHPRWHO\ LPDJLQHG EHIRUH )RU WKLV UHDVRQ DORQH ZH FDQ XQGHUn VWDQG ZK\ WKH DOFKHPLVWV FDOOHG WKHLU QLJUHGR PHODQn FKROLD D EODFN EODFNHU WKDQ EODFN QLJKW DQ DIn IOLFWLRQ RI WKH VRXO FRQIXVLRQ HWF SRLQWHGO\ WKH EODFN UDYHQ &RUUHFWO\ DVVHVVLQJ WKH SV\FKLF GDQJHU LQ ZKLFK KH VWRRG LW ZDV WKHUHn IRUH RI WKH XWPRVW LPSRUWDQFH IRU KLP WR KDYH D ID RU PRUH LPSRUWDQFH IRU PP WR QDYH D YRXUDEOH IDPLOLDU DV D KHOSHU LQ KLV ZRUN DQG DW WKH VDPH WLPH WR GHYRWH KLPVHOI GLOLJHQWO\ WR WKH WXDO H[HUFLVH RI SUDYHU DOO WKLV LQ RUGHU WR PHHW O WKH FRQVHTXHQFHV RI WKH FROOLVLRQ EHWZHHQ FRQVFLRXVQHVV DQG WKH GDUNQHVV RI WKH VKDGRZ (YHQ IRU PRGHUQ SV\FKRORJ\ WKH FRQIURQWDWLRQ ZLWK WKH VKDGRZ LV QRW D KDUPOHVV DIIDLU DQG IRU WKLV UHDVRQ LW LV RIWHQ FLUFXPYHQWHG ZLWK FXQQLQJ DQG FDXWLRQ $V WKH DUFKHW\SH RI /LIH 8QD VDYHG 5HGFURVVH E\ URXn VLQJ KLV IDLWK MXVW DV WKH 0HOXVLQD ZDV DERXW WR RYHUSRZHU KLP DQG QRZ VKH VDYHV KLP DV KH DFFHSWV 'HVSDLUHnV SURIn IHUHG ZHDSRQ KDYLQJ VXFFXPEHG WR WKH QLJUHGR 2XW RI KLV KDQG VKH VQDWFKW WKH FXUVHG NQLIH $QG WKUHZ LW WR WKH JURXQG ,;UOLLf %\ DFFHSWLQJ KLV 6KDGRZ D SDUW RI KLP KDV GLHG EXW ZKDW LV HWHUQDO QRZ OLYHV DQG LWV SHUIHFWLRQ ZLOO EH V\PEROL]HG E\ KLV YLFWRU\ RYHU WKH ZLQJHG GUDJRQ

PAGE 253

&$172 ; 6XPPDU\ 5HGFURVVH DQG 8QD MRXUQH\ WR WKH +RXVH RI +ROLQHVVH SUHVLGHG RYHU E\ 'DPH &RHOLD DQG KHU WKUHH GDXJKWHUV )LGHOLD 6SHUDQ]D DQG &KDULVVD 7KH 3RUWHU ZKR DGPLWV WKHP LV +XPLOLWD WKH\ DUH JUHHWHG E\ =HOH D )UDQNOLQ DQG LQn WURGXFHG WR 'DPH &RHOLD E\ 5HXHUHQFH D 6TXLUH 5HGFURVVH LV LQVWUXFWHG LQ KHDXHQO\ OHDUQLQJ E\ )LGHOLD DQG JLYHQ KRSH E\ 6SHUDQ]D $ /HDFK 3DWLHQFH LV FDOOHG LQ DQG DVVLVWHG E\ $PHQGPHQW 3HQDQFH 5HSHQWHQFH DQG 5HPRUVH DSSOLHV FRUURVLXHV WR 5HGFURVVHnV LQZDUG FRUUXSWLRQ ZKLFK LV WKH FDXVH RI KLV LOO KHDOWK DQG WKHQ DUUD\V WKH SDWLHQW LQ DVKHV DQG VDFNFORWK 5HGFURVVH LV WKHQ OHG WR 'DPH &RHOLDnV WKLUG GDXJKWHU &KDULVVD ZKR ODWH LQ FKLOGn EHG EURXJKW LV VLWWLQJ LQ DQ \XRULH FKDLU ZLWK D SDLU RI WXUWOH GRYHV EHVLGH KHU $IWHU VKH KDV LQVWUXFWHG 5HGn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

PAGE 254

FRXQWHUSDUW RI WKH )DHULH 4XHHQHnV VSOHQGLG HDUWKO\ FLW\ &OHRSROLV ZLWK LWV WRZUH RI JODV &RQWHPSODWLRQ SURn SKHV\LQJ WKDW WKRX 6DLQW *HRUJH VKDOW FDOOHG EHH UHYHDOV 5HGFURVVHnV OLQHDJH WR KLP KH LV VSUXQJ IURP DQFLHQW UDFH 2I 6D[RQ NLQJV DQG DV DQ LQIDQW ZDV VWROHQ E\ D )DHULH ZKR DIWHU OHDYLQJ KHU EDVH (OILQ EURRG DV D FKDQJHOLQJ KLG WKH UR\DO LQIDQW LQ D KHDSHG IXUURZ ZKHUH LW ZDV IRXQG E\ D SORXJKPDQ DQG JLYHQ WKH QDPH *HRUJRV 5HGFURVVH WKHQ ILQDOO\ UHWXUQV WR ZKHUH 8QD KDV EHHQ ZDLWLQJ IRU KLP DQG DIWHU D VKRUW UHVW WKH\ WDNH OHDYH RI WKH +RXVH RI +ROLQHVVH $QDO\VLV DQG &RPPHQWDU\ $FFRUGLQJ WR WKH (PHUDOG 7DEOH RI +HUPHV 7ULVPHJLVWXV IXOO WH[W TXRWHG S DERYHf WKH JRDO RI WKH DOFKHPLn FDO SURFHVV LV WKH PDUYHORXV DGDSWDWLRQ ZKLFK RFFXUV ZKHQ WKH DGHSW XQLWHV LQ KLPVHOI WKH IRUFH IURP WKLQJV VXSHULRU DQG WKLQJV LQIHULRU $FFRUGLQJO\ WKH KHUPHWLF SULQFLSOH WKDW WKDW ZKLFK LV DERYH LV OLNH WKDW ZKLFK LV EHORZ LV QRZKHUH EHWWHU LOOXVWUDWHG WKDQ LQ 6SHQVHUnV +RXVH RI +ROLn QHVVH DV FRQWUDVWHG ZLWK LWV SRODU RSSRVLWH RU LQIHULRU FRXQWHUSDUW WKH +RXVH RI 3ULGH ,W VKRXOG EH FOHDU E\ QRZ WKDW KHUH DJDLQ ZH DUH GHDOLQJ ZLWK RQH +RXVH QRW WZR IRU ZKHWKHU WKH +RXVH LV FRQVWHOODWHG RQ WKH LQIHULRU SODQH DV WKH +RXVH RI 3ULGH RU RQ WKH VXSHULRU DV WKH +RXVH RI +ROLQHVVH GHSHQGV RQ 5HGFURVVHnV UHODWLRQVKLS WR WKH $QLPD LH ZKHWKHU LW LV 8QD RU 'XHVVD YKR OHDGV KLP WKHUH $W

PAGE 255

L 5HGFURVVHnV SUHVHQW VWDJH RI VSLULWXDO GHYHORSPHQW WKH ERQGV RI PRUWDOLW\ DQG ILQLWHQHVV KDYH EHHQ EXUVW DVXQGHU E\ WKH ELUWK RI WKH SV\FKRORJLFDO 6HOI ZKLFK UHVXOWV LQ DQ LQFUHDn VLQJ HPSKDVLV RQ FROOHFWLYH UDWKHU WKDQ SHUVRQDO JRDOV 7KXV 6DQVIR\ 6DQVMR\ DQG 6DQVOR\ JLYH ZD\ UHVSHFWLYHO\ WR )LGHOLD 6SHUDQ]D DQG &KDULVVD DQG WKH HQHUJLHV DVVRn FLDWHG ZLWK WKH 6HYHQ 'HDGO\ 6LQV UHSUHVHQWLQJ YDULRXV IRUPV RI VHOILQGXOJHQFH KDYH EHHQ WUDQVIRUPHG LQWR VHOIn OHVV FRQFHUQ IRU RWKHUV DV H[HPSOLILHG LQ WKH DFWLYLWLHV RI WKH 6HYHQ %HDGPHQ $V LQ WKH HQFRXQWHU ZLWK 'HVSDLUH WKH HYHQWV LQ WKH +RXVH RI +ROLQHVVH KDYH LQ HIIHFW DOn UHDG\ EHHQ H[SHULHQFHG WKLV WLPH KRZHYHU WKH\ DUH SHUn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f f f ? [Q[LLLf :H KDYH VHHQ WKLV JROGHQ FXS EHIRUH LQ &DQWR 9,,, ,W LV WKH VDPH DV 'XHVVDnV JROGHQ FXS UHSOHWH ZLWK PDJLF DUWV ,Q )LGHOLDnV KDQG WKH DUFDQXP LV D KHDYHQO\ PHGL

PAGE 256

FLQH LQ 'XHVVDnV KRZHYHU LW LV D GHDGO\ SRLVRQ 'HDWK DQG GHVSH\UH GLG PDQ\ WKHUHRI VXS $QG VHFUHW SR\VRQ WKURXJK WKHLU LQQHU SDUWV 9,,,[LYf 7KLV LV D SDUDGR[ IXQGDPHQWDO WR DOFKHPLFDO WKLQNLQJ SV\FKRORJLFDOO\ WKH XQFRQVFLRXV LV ERWK KHDYHQ DQG KHOO DQG ZKHWKHU LW SURYHV IULHQG RU HQHP\ GHSHQGV RQ WKH LQGLYLGXDOnV FRQVFLRXV DWWLn WXGH LW LV OLNH 'LRQ\VXV ZKR WKRXJK PRVW JHQWOH WR PDQn NLQG FDQ SURYH D JRG RI WHUURU LUUHVLVWLEOH )LGHOLDnV FXS PRUHRYHU LV GRXEO\ VDFUDPHQWDO ,Q &DQWR ,; ZKHQ 5HGFURVVH DQG $UWKXU H[FKDQJH DV JLIWV UHVSHFWLYHO\ WKH 1HZ ? 7HVWDPHQW DQG WKH DOFKHPLFDO HOL[LU ZH KDYH VHHQ WKDW WKLV UHSUHVHQWV WKH IXVLRQ RI WKH WZR WUDGLWLRQV RU ZKDW LV WHUPHG &KULVWLDQ DOFKHP\ 7KLV LGHD LV H[SUHVVHG RQFH DJDLQ IRU LQ )LGHOLDnV FXS WKH ZDWHU DQG ZLQH EHWRNHQ WKH P\VWHU\ RI WKH &KULVWLDQ (XFKDULVW DQG WKH PHUFXULDO VHUn SHQWf§ZKLFK VLJQLILFDQWO\ LV DOVR FRQWDLQHG LQ WKH FXSf§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

PAGE 257

$QG WKDW KHU VDFUHG %RRNH ZLWK EORXG \ZULW 7KDW QRQH FRXOG UHDG H[FHSW VKH GLG WKHP WHDFK 6KH YQWR KLP GLVFORVHG HXHU\ ZKLW $QG KHDXHQO\ GRFXPHQWV WKHUHRXW GLG SUHDFK 7KDW ZHDNHU ZLW RI PDQ FRXOG QHXHU UHDFK 2I *RG RI JUDFH RI LXVWLFH RI IUHH ZLOO 7KDW ZRQGHU ZDV WR KHDUH KHU JRRGO\ VSHDFK )RU VKH ZDV DEOH ZLWK KHU ZRUGV WR NLOO $QG UDLVH DJDLQH WR OLIH WKH KDUW WKDW VKH GLG WKULOO [YLLL[L[f 7KH )RUP ZKLFK /XQD FDQ WDNH ZKHQ FRQVWHOODWHG GHSHQGV DV ZH KDYH VHHQ RQ 6ROnV GHJUHH RI FRQVFLRXVQHVV ZKHQ 8QD DVNV )LGHVVD WR DOORZ 5HGFURVVH LQWR KHU VFKRROH KRXVH 7KDW RI KHU KHDXHQO\ OHDUQLQJ KH PLJKW WDVWH $QG KHDUH WKH ZLVHGRPH RI KHU ZRUGV GHXLQH VKH LV WU\LQJ WR UDLVH 5HGFURVVHnV FRQVFLRXVQHVV WR D KLJKHU OHYHO WKDQ SUHn YLRXVO\ ZKHQ WKH HYHQW YDV GHVFULEHG RQ WKH SODQH RI 6DW\ UDQHnV LQWHUHVW LQ 8QDnV ZLVGRP KHDXHQO\ UDUH DQG KLV GHn VLUH WR OHDUQ KHU GLVFLSOLQH RI IDLWK DQG YHULWLH 9, [[[[[[Lf E\ VHWWLQJ 5HFURVVH WR VFKRRO ZLWK )LGHVVD 8QD LQVXUHV KHU RZQ PRUH FRPSOHWH UHDOL]DWLRQ 6LQFH DOFKHP\ PDGH PRUH DFFHVVLEOH WKH DUFKW\SHV DW WKH EDVLV RI &KULVn WLDQLW\ WKH DOFKHPLVW FRXOG ZHOO EHOLHYH WKDW ZLWKRXW WKH DUW QRQH FRXOG UHDG ZKDW WKH KHDXHQO\ GRFXPHQWV WKHUHRXW GLG SUHDFK 7KLV LQWHUPLQJOLQJ RI WKH DOFKHPLFDO DQG %LEOLFDO WUDn GLWLRQV VR FKDUDFWHULVWLF RI DOFKHPLFDO ZULWLQJV ZDV KRZ HYHU DQDWKHPD WR WKRVH ZKRVH &KULVWLDQLW\ ZDV PRUH FRQVHUn YDWLYHO\ 3URWHVWDQW 7KXV WKH SULQWHU RI WKH HGLWLRQ RI WKH $UWLV DXULIHUDH UHIXVHG WR SULQW WKH ILUVW SDUW RI

PAGE 258

L WKH $XURUD &RQVXUJHQV +HUH LV -XQJnV VXPPDU\ RI WKH SULQn WHUnV H[SODQDWRU\ QRWH KH VD\V WKDW KH KDV SXUSRVHO\ RPLWWHG WKH HQWLUH FRQVLVWLQJ RI SDUDEOHV RU DOOHJRULHV EHFDXVH WKH DXWKRU LQ WKH DQFLHQW PDQQHU RI REVFXUDQWLVWV DQWLJXR PRUH WHQHEULRQXPf WUHDWHG DOPRVW WKH ZKROH %LEOHSDUWLFXODUO\ 3URYHUEV 3VDOPV EXW DERYH DOO WKH 6RQJ RI 6RQJVLQ VXFK D ZD\ DV WR VXJJHVW WKDW WKH +RO\ 6FULSWXUHV KDG EHHQ ZULWWHQ VROHO\ LQ KRQRXU RI DOFKHP\ 7KH DXWKRU KH VD\V KDV HYHQ SURIDQHG WKH PRVW KRO\ P\VWHU\ RI WKH LQFDUQDWLRQ DQG GHDWK RI &KULVW E\ WXUQLQJ LW LQWR WKH P\VWHU\ RI WKH ODSLVf§ QRW RI FRXUVH ZLWK DQ\ HYLO LQWHQW DV KH WKH W\n SRJUDSKHU &RQUDG :DOGNLUFK UHDGLO\ DGPLWV EXW ZDV RQO\ WR EH H[SHFWHG LQ WKDW EHQLJKWHG HSRFK OXP LOOXG WHQHEUDUXPf VHFX %\ WKLV :DOGNLUFK PHDQW WKH SUH5HIRUPDWLRQ HSRFK ZKRVH FRQFHSWLRQ RI PDQ DQG WKH DQG H[SHULHQFH RI WKH GLYLQH SUHVHQFH LQ WKH P\VWHU\ RI PDWWHU KDG HQWLUHO\ YDQLVKHG IURP WKH SXUYLHZ RI WKH 3URWHVWDQWV RI KLV RZQ GD\ ZRUOG :DOGNLUFKnV RSSRVLWLRQ WR WKH XVH RI 6FULSWXUDO PDWHULDO LQ DQ DOFKHPLFDO DOOHJRU\ ZRXOG SUREDEO\ KDYH EHHQ VKDUHG E\ *DEULHO +DUYH\ %HFDXVH +DUYH\ GLVDSSURYHG RI DQ HDUO\ YHUVLRQ RI ZKDW KH WHUPHG WKDW (OXLVK 4XHHQH VFKRODUV KDYH VSHFXODWHG WKDW WKH RULJLQDO %RRN PXVW QRW KDYH EHHQ WKH VWRU\ RI 5HGFURVVH 0UV %HQQHWW FLWHV WKH IROORZLQJ HYLGHQFH 0U & 6PLWK LQ WKH ,QWURGXFWLRQ WR KLV HGLWLRQ RI WKH ,[LQRWHf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

PAGE 259

7KHUH LV QRWKLQJ LQFRQVLVWHQW LQ FRQGHPQLQJ WKH OHJHQG RI 5HGFURVVH ZKLOH SUDLVLQJ 5HYHODWLRQV LW LV OLNHO\ WKDW +DUYH\ OLNH :DOGNLUFK REMHFWHG WR 6FULSWXUDO HOHPHQWV LQ D ZRUN WKDW FRXOG EH UHDG DV DQ DOFKHPLFDO DOOHJRU\ 7KH IDLWKIXOO NQLJKW QRZ JUHZ LQ OLWOH VSDFH %\ KHDULQJ KHU DQG E\ KHU VLVWHUV ORUH 7R VXFK SHUIHFWLRQ RI DOO KHDXHQO\ JUDFH 7KDW ZUHWFKHG ZRUOG KH JDQ IRU WR DEKRUH $QG PRUWDOO OLIH JDQ ORDWK DV WKLQJ IRUORUH *UHHXn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nFLQHV ZKLFK KDG SDVVLQJ SULHIH $QG WKHUHWR DGGHG ZRUGV RI ZRQGURXV PLJKW %\ ZKLFK WR HDVH KH KLP UHFXUHG EULHIH $QG PXFK DVVZDJnG WKH SDVVLRQ RI KLV SOLJKW 7KDW KH KLV SDLQH HQGXUnG DV VHHPLQJ QRZ PRUH OLJKW [[L[[LYf 7KH (PHUDOG 7DEOH VWDWHV FOHDUO\ WKDW LI WKH $GHSW LV WR

PAGE 260

DWWDLQ WKH JORU\ RI WKH EULJKWQHVV RI WKH ZKROH ZRUOG KH PXVW ILUVW XQLWH LQ KLPVHOI WKH IRUFH IURP WKLQJV VXn SHULRU DQG WKLQJV LQIHULRU %\ OLVWHQLQJ WR )LGHOLD 5HGFURVVH KDV EHFRPH DZDUH RI WKLQJV VXSHULRU DQG LQn GHHG KDV JURZQ WR SHUIHFWLRQ RI DOO KHDXHQO\ JUDFH %XW RZLQJ WR KLV VSLULWXDO LPPDWXULW\ KH FRQWLQXHV WR WKLQN RI WKH RSSRVLWHV RI JRRG DQG HYLO LQ VLPSOLVWLF WHUPV DQG LV DV \HW XQDEOH WR FRQTXHU WKH PRUDO SUREOHP LPSOLFLW LQ UHFRJQLWLRQ RI WKH IDFW WKDW DV -XQJ H[SUHVVHV LW WKH RSSRVLWHV DUH WKH LQHUDGLFDEOH DQG LQGLVSHQVDEOH SUHFRQn GLWLRQV RI SV\FKLF OLIHA 7KH SDUDGR[ LV HSLWRPL]HG LQ 8QDnV LQVLVWHQFH WKDW 'XHVVD EH SHUPLWWHG WR OLYH WKH LGHD LV QRW WR GHVWLn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n JLYHQ WKHP ,W ZDV WKH P\VWHU\ RI WKH NLQJGRP RI *RG WKDW )LGHOLD H[SODLQHG WR 5HGFURVVH KHU VDFUHG %RRNH ZLWK EORXG \ZULW 7KDW QRQH FRXOG UHDG H[FHSW VKH GLG WKHP WHDFK 6KH YQWR KLP GLVFORVHG HXHU\ ZKLW [L[f 3HUKDSV EHFDXVH 5HGFURVVH

PAGE 261

KDV \HW WR EH LQVWUXFWHG E\ &KDULVVD DQG 0HUFLH LW LV QRW SRVVLEOH IRU KLP DW WKLV SRLQW WR JUDVS WKH RYHUZKHOPLQJ LGHD WKDW 6DOYDWLRQ LV D VWDWH RI PLQG UDWKHU WKDQ YLUWXH SHU VHf§D FRQFHSW IXQGDPHQWDO WR DOO P\VWHU\ WUDGLWLRQV DQG FRQVHTXHQWO\ DV -HVXV VWDWHV TXLWH VSHFLILFDOO\ LQ WKH DERYH SDVVDJH IURP 0DUN RQH RI WKH PRVW VWDUWOLQJO\ UHn YHDOLQJ VWDWHPHQWV LQ WKH HQWLUH *RVSHOf WKH WHDFKLQJV PXVW EH GRQH VHFUHWO\ LQ SDUDEOHV EHFDXVH RWKHUZLVH WKRVH ZKR DUH XQZRUWK\ PLJKW ILQG WKHLU ZD\ LQWR WKH NLQJGRP RI *RG DQG EHLQJ WKXV FRQYHUWHG WKHLU VLQV ZRXOG EH IRUJLYHQ LUUHVSHFWLYH RI WKHLU SHUVRQDO PHULWf 5HGFURVVH PXVW UHn DOL]H WKDW WKH VLQ ZKLFK KH KDV FRPH WR UHFRJQL]H LQ KLPVHOI WKURXJK KLV FRQIURQWDWLRQ ZLWK WKH 6KDGRZ LV EXW D SURMHFn WLRQ RI D JUHDWHU KLGGHQ HYLO DQG ZKLOH D SDUWLFXODU SURn MHFWLRQ FDQ EH GHVWUR\HG HJ 2UJRJOLRf WKH HYLO UHPDLQV %XW \HW WKH FDXVH DQG URRW RI DOO KLV LOO ,QZDUG FRUUXSWLRQ DQG LQIHFWHG VLQ 1RW SXUJnG QRU KHDOG EHKLQG UHPDLQHG VWLOO $QG IHVWULQJ VRUH GLG UDQNOH \HW ZLWKLQ &ORVH FUHHSLQJ WZL[W WKH PDUURZ DQG WKH VNLQ :KLFK WR H[WLUSH KH ODLG KLV SULXLO\ 'RZQH LQ D GDUNHVRPH ORZO\ SODFH IDUUH LQ :KHUHDV KH PHDQW KLV FRUURVLXHV WR DSSO\ $QG ZLWK VWUHLJKW GLHW WDPH KLV VWXEERUQH PDODG\ [[Yf :KHQ WKH /HDFK OD\V 5HGFURVVH 'RZQH LQ D GDUNHVRPH ORZO\ SODFH IDUUH LQ WR DSSO\ KLV FRUURVLXHV KH KDV UHDFKHG WKH WUXH VRXUFH RI WKH SUREOHP IRU WKLV SODFH KDV EHHQ UHn FRJQL]HG SUHYLRXVO\ DV (UURXUV 'HQ DQG WKH 'HQ RI 'HVSDLUH 7KH KHUPHWLF SULQFLSOH WKDW HYLO PXVW EH GHHQHUJL]HG UDWKHU WKDQ GHVWUR\HG LV HYLGHQW IURP WKH IDFW WKDW WKH /HDFK SUR

PAGE 262

SRVHV WR WDPH UDWKHU WKDQ HOLPLQDWH 5HGFURVVHnV VWXEERUQH PDODG\ 7KH SV\FKRWKHUDSHXWLF QDWXUH RI WKH SURFHGXUH LV QRZKHUH PRUH HYLGHQW WKDQ LQ WKH GHVFULSWLRQ WKH UHVWRULQJ WR KHDOWK LV DFKLHYHG E\ VHDUFKLQJ LQWR 5HGFURVVH IRU DOO WKDW QR\G KLV KHDXLH VSULJKW VLJQLILFDQWO\ LW LV DFFRPn SDQLHG E\ ZRUGV RI ZRQGURXV PLJKW LH ZKDW )UHXG WHUPHG WKH WDONLQJ FXUH DQG ILQDOO\ LWV VXEMHFWLYLW\ LV UHn YHDOHG E\ WKH IDFW WKDW WKH /HDFKnV QDPH LV 3DWLHQFH $V VRRQ DV 5HGFURVVH LV DEOH WR DFKLHYH D SURIRXQGHU XQGHUn VWDQGLQJ RI WKH QDWXUH RI JRRG DQG HYLO KH ZLOO EHFRPH WKH DOFKHPLFDO 5HELV LH WZRWKLQJf DQG ZLOO EH FRQVFLRXVO\ DZDUH RI WKH HVVHQWLDO GXDOLW\ RI KLV QDWXUH LQ WKH PHDQn WLPH KRZHYHU KH PXVW RYHUFRPH WKH HUURU WKDW SUHYHQWV KLV WUXO\ EHOLHYLQJ WKDW IRUJLYHQHVV RI VLQV LV D GHHQHUJLn ]LQJ RI HYLO H[SRVLQJ 'XHVVDf WKDW FRQYHUVLRQ LV D VKLIn WLQJ RI WKH FHQWHU RI WKH SHUVRQDOLW\ IURP WKH HJR WR WKH 6HOI FUHDWLRQ RI WKH 6WRQHf DQG ILQDOO\ WKDW VDOYDWLRQ LV WKH IXOO UHDOL]DWLRQ RI SV\FKRORJLFDO 6HOIKRRG EHFRPLQJ WKH OLYLQJ 6WRQHf :KRP WKXV UHFRXHUn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

PAGE 263

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f ,Q NHHSLQJ ZLWK WKH IDFW WKDW WKH +RXVH RI +ROLQHVVH LV WKH UHYHUVHG LPDJH RI WKH +RXVH RI 3ULGH ZH VHH LQ &KDULVVD DQG )LGHOLD WKH SRVLWLYH RU KHDYHQO\ DVSHFWV RI ZKDW ZH KDYH HQFRXQWHUHG SUHYLRXVO\ RQ WKH RSSRVLWH RU ZRUOGO\ SODQH LQ /XFLIHUD 7KH VLPLODULWLHV EHWZHHQ WKHVH SRODU RSSRVLWHV DV LQGLFDWHG IRU H[DPSOH LQ WKH VSOHQGRU RI WKH VXQQ\ EHDPHV IURP )LGHOLDnV &KULVWDOO IDFH 7KDW FRXOG KDYH GD]G WKH UDVK EHKROGHUV VLJKW ;[[Lf ZKLFK LV FRPSDUDEOH WR /XFLIHUDnV JORULRXV JOLWWHUDQG OLJKW ZKLFK GRWK DOO PHQV

PAGE 264

H\HV DPD]H ,9[YLfLOOXVWUDWH KRZ IRROLVK ZDV 5HGFURVVHnV QRWLRQ WKDW JRRG FRXOG EH VHSDUDWHG HQWLUHO\ IURP HYLO ZKHQ KH GLVFRYHUHG WKDW KH KLPVHOI KDUERUHG QRW RQO\ WKH VSLULn WXDO TXDOLWLHV ZKLFK )LGHOLD KDG EURXJKW RXW LQ KLP EXW DOVR WKH HYLO WKDW KH KDG SXUSRVHO\ VHW RXW WR GHVWUR\ KH VDZ QR RWKHU ZD\ WR DFKLHYH WKLV GXELRXV JRDO EXW WR GHVn WUR\ KLPVHOI +DYLQJ KRZHYHU EHHQ FXUHG RI WKLV HUURU KH FDQ QRZ EHFRPH DFTXDLQWHG ZLWK &KDULVVD ZKRVH QDPH LQn GLFDWHV WKH KXPDQ FRXQWHUSDUW WR WKH GLYLQH ORYH ZKLFK KDV WKH XOWLPDWH UHVSRQVLELOLW\ IRU WKH ELUWK RI WKH ILOLXV SKLORVRSKRUXP WKH DUFKHW\SH LGHQWLFDO WR WKDW XQGHUO\LQJ WKH &KULVW LPDJH ,QGHHG LW LV QR FRLQFLGHQFH WKDW &KDULVn VD KDV EHHQ ODWH LQ FKLOGEHG EURXJKW :H KDYH VHHQ LQ 3KLODOHWKHVn SDUDEOH FI S II DERYHf WKDW WKH ZLQJHG \RXWK FDQQRW VXFFHHG LQ KLV HQWHUSULVH XQOHVV 'LDQDnV WZLQ GRYHV ZLOO WHPSHU WKH PDOLJQLW\ RI WKH DLU ZLWK WKHLU ZLQJV 7KLV LV SUHFLVHO\ WKH VLJQLILFDWLRQ RI WKH JHQWOH SDLUH 2I WXUWOH GRXHV ZKLFK VLW EHVLGH &KDULVVD DV VKH UHFOLQHV LQ KHU \XRULH FKDLUH -XQJnV H[SOLFDWLRQ RI 3KLODOHWKHVn SDUDEOH GHILQHV 5HGFURVVHnV VLWXDWLRQ H[DFWO\ 7KH WHQGHU SDLU RI GRYHV LV WKH H[DFW FRXQWHUSDUW WR WKH PDOLJQLW\ RI WKH WKLHI 7RJHWKHU WKH\ UHSUHn VHQW WKH DWWDFN ILUVW IURP RQH VLGH DQG WKHQ IURP WKH RWKHU RI D GXDOLVWLF EHLQJ RQ WKH PRUH UHVWULFWHG FRQn VFLRXVQHVV RI PDQ ,Q WKH 5RVDULXP WKHUH LV D ZRRGFXW GHSLFWLQJ WKH GXDOLVWLF EHLQJWKH VRXOf§DV DQ LQIDQW DVFHQGLQJ LQWR WKH FORXGV IURP DQ RSHQ FRIILQ FRQWDLQLQJ 6RO DQG /XQD MRLQHG DV WKH KHUPDSKURGLWH ZLWK WZR KHDGV DQG RQH ERG\ LQGLFDWLQJ WKDW

PAGE 265

WKH FRQLXQFWLR KDV DOUHDG\ RFFXUUHGf D IXUWKHU ZRRGFXW LOOXVWUDWHV WKH UHWXUQ RI WKH FKLOGKLV SURSRUWLRQV VXJJHVn WLQJ WKDW KH LV QR ORQJHU DQ LQIDQWWR WKH SXULILHG ERG\ WR TXLFNHQ D QHZ ELUWKA MBV SHUKDSV LQ WKLV VHQVH WKDW &KDULVVD LV VDLG WR KDYH IHG KHU EDEHV ZKLOHV WKH\ ZHUH ZHDNH DQG \RXQJ %XW WKUXVW WKHP IRUWK VWLOO DV WKH\ ZH[HG ROG 7KDW &KDULVVD LV IXOO RI JUHDW ORYH EXW &XSLGV ZDQn WRQ VQDUH $V KHOO VKH KDWHG FKDVW LQ ZRUNH DQG ZLOO LV LPSOLFLW QRW RQO\ LQ KHU QDPH EXW DOVR LQ KHU LGHQWLILFDWLRQ ZLWK 'LDQD 2QH RI WKH OHVVRQV ZKLFK 5HGFURVVH PXVW OHDUQ DW WKLV VWDWH RI WKH RSXV LV WKDW VSLULWXDO ORYH FKDULWDVf DQG VHQVXDO ORYH HURVf DUH SRODU RSSRVLWHV LQVRIDU DV WKH RQH UHSUHVHQWV D UHGLUHFWLRQ RI OLELGRLH SV\FKLF HQHUJ\ f§DZD\ IURP WKH RWKHU 7KLV EDVLF GLOHPPD LV PHPRUDEO\ VHW IRUWK LQ WKH DOFKHPLFDO IDLU\WDOH 7KH 6SLULW LQ WKH %RWWOH ZKLFK LV FRQWDLQHG LQ EURWKHUV *ULPP :KHQ WKH ZRRGFXWWHUnV VRQ GLVFRYHUV WKH VWUDQJH ERWWOH ORGJHG LQ WKH URRWV RI WKH RDN WUHH DQG UHPRYHV WKH FRUN WKH 6SLULW 0HUFXULXV ULVHV XS DQG WKUHDWHQV WR RYHUZKHOP KLP WKH SKDOOLFLVP RI WKH ERWWOH LQGLFDWLQJ WKDW WKH H[SHULHQFH LV DXWRHURWLFf WKH ER\ LV FOHYHU KRZHYHU DQG FRD[HV WKH VSLULW EDFN LQWR WKH ERWWOH +DYLQJ VXEMHFWHG WKH OLELGR WR KLV ZLOO KH PDNHV LW HDUQ LWV UHOHDVH LQ D PRUH FUHDWLYH DQG IXOILOOLQJ ZD\ DQG WKXV EHFRPHV WKH SRVVHVVRU RI D PDJLF UDJ WKDWOLNH WKH GURSV RI OLTXRU SXUH ZKLFK $UWKXU JDYH 5HGFURVVHf§FRXOG FXUH DQ\ ZRXQG DQG PRUHRYHU WUDQVPXWH ZKDWHYHU PHWDO LW

PAGE 266

WRXFKHV LQWR VLOYHU ZKDW LV VR SDLQIXOO\ HYLGHQW DERXW WKH NLQG RI VHOIORYH WKDW /XFLIHUD UHSUHVHQWV FRPSDUDEOH WR WKH LQLWLDO DXWRHURWLFLVP RI WKH ZRRGFXWWHUnV VRQ LQ WKH DOFKHPLFDO IDLU\WDOHf LV LWV HVVHQWLDOO\ EDUUHQ QDWXUH WKH ORYH WKDW &KDULVVD HPERGLHV RQ WKH RWKHU KDQG PDNHV EHWWHU XVH RI WKH HQHUJ\ IRU LW LQYROYHV WKH UHGLUHFWLRQ RI WKH OLELGR WRZDUG FRPSDVVLRQDWH VSLULWXDOLW\ DQG LV FUHDWLYH DQG IHUWLOH DV LQGLFDWHG E\ WKH PXOWLWXGH RI EDEHV WKDW VXUURXQG KHU RU LQ WKH IDLU\WDOH E\ WKH ER\nV DELOLW\ WR KHDO ZRXQGV DQG WUDQVPXWH PHWDOf 7KH ILQDO OHVVRQ WKDW 5HG FURVVH OHDUQV IURP &KDULVVD LV WKDW LW LV QHFHVVDU\ WR VKRQQH ZUDWK DQG KDWUHG LQ WKLV ZD\ LW LV SRVVLEOH IRU WKH VRXO WR DEKRU VLQ DQG \HW IHHO FRPSDVVLRQ UDWKHU WKDQ KDWH IRU D ERG\ ZKLFK E\ LWV QDWXUH FDQQRW EH FRPSOHWHO\ IUHHG IURP VLQ :KHUHLQ KLV ZHDNHU ZDQGULQJ VWHSV WR JXLGH $Q DXQFLHQW PDWURQH VKH WR KHU GRHV FDOO :KRVH VREHU ORRNHV KHU ZLVHGRPH ZHOO GHVFULGH +HU QDPH ZDV 0HUFLH ZHOO NQRZQH RXHU DOO 7R EH ERWK JUDWLRXV DQG HNH OLEHUDOO 7R ZKRP WKH FDUHIXOO FKDUJH RI KLP VKH JDXH 7R OHDG DULJKW WKDW KH VKRXOG QHXHU IDOO ,Q DOO KLV ZD\HV WKURXJK WKLV ZLGH ZRUOGHV ZDXH 7KDW 0HUF\ LQ WKH HQG KLV ULJKWHRXV VRXOH PLJKW VDXH 7KH JRGO\ 0DWURQH E\ WKH KDQG KLP EHDUHV )RUWK IURP KHU SUHVHQFH E\ D QDUURZ ZD\ 6FDWWUHG ZLWK EXVK\ WKRUQHV DQG UDJJHG EUHDUHV 6KH KHOG KLP IDVW DQG ILUPHO\ GLG YSEHDUH $V FDUHIXOO 1RXUVH KHU FKLOG IURP IDOOLQJ RIW GRHV UHDUH

PAGE 267

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
PAGE 268

&DQWR -XVW DV WKH IHPLQLQH QDWXUH RI WKH ILUVW KDOI RI WKH RSXV LV LPSOLHG LQ WKH VH[XDO LPDJHU\ RI WKH ORFDWLRQ GRZQH LQ D GDOH KDUG E\ D IRUHVWV VLGH RI WKH OLWWOH ORZO\ +HUPLWDJH ,U[[[LYf VR QRZ WKH PDVFXOLQH VHFRQG KDOI LV V\PEROL]HG E\ WKH REYLRXV SKDOOLFLVP RI WKH ORFDWLRQ RQ WRS RI DQ KLOO WKDW ZDV ERWK VWHHSH DQG K\ 'HVSLWH WKH VKLIW IURP IHPLQLQH WR PDVFXOLQH WKHUH LV QR GRXEW WKDW WKLV VHFRQG KHUPLWDJH DQG DGMDFHQW FKDSHO LV WKH VDPH DV WKH ILUVW RQH IRU WKH GHVFULSWLRQV DUH QHDUO\ LGHQWLFDO ,Q WKH WZHOIWK RI D VHULHV RI ILIWHHQ ZRRGFXWV LOOXVWUDWLQJ /DPEVSULQFNnV 'H /DSLGH 3KLORVRSKLFR WKH DGHSW DQG WKH VHQH[ SDWHU ZKR WR V\PEROL]H KLV VSLULWXDOLW\ LV GHSLFWHG ZLWK ZLQJV DUH VKRZQ VWDQGLQJ DWRS D KLOO WKDW LV VWUDQJHO\ WRZHUOLNH LQ LWV KHLJKW DQG VWHHSQHVV VXUYH\LQJ WKH FRXQn WU\VLGH EHORZ MXVW DV LQ 6SHQVHUnV GHVFULSWLRQ 5HG FURVVH DW WKLV SRLQW KDV DFKLHYHG WKH KLJKHVW SLQQDFOH RI SXULILFDWLRQ WKH GUDJRQ DQG WKH OLRQ KDYH JLYHQ YD\ WR WKH HDJOH DQG VLQFH LW LV RQO\ WKH (DJOHV H\H WKDW FDQ EHn KROG WKH 6XQQH 5HGFURVVHnV OHYHO RI LQVLJKW ZLOO QRZ HQn DEOH KLP DIWHU WKH ILQDO FRQIURQWDWLRQ LV RYHU WR JD]H DW 8QD VWUDLJKW LQWR WKH JORULRXV OLJKW RI KHU VXQVK\Q\ )URP WKHQFH IDU RII KH YQWR KLP GLG VKHZ $ OLWOH SDWK WKDW ZDV ERWK VWHHSH DQG ORQJ :KLFK WR D JRRGO\ &LWLH OHG KLV YHZ :KRVH ZDOOV DQG WRZUHV ZHUH EXLOGHG KLJK DQG VWURQJ 2I SHUOH DQG SUHFLRXV VWRQH WKDW HDUWKO\ WRQJ &DQQRW GHVFULEH QRU ZLW RI PDQ FDQ WHOO

PAGE 269

7RR KLJK D GLWW\ IRU P\ VLPSOH VRQJ 7KH &LWLH RI WKH JUHDW NLQJ KLJKW LW ZHOO :KHUHLQ HWHUQDOO SHDFH DQG KDSSLQHVVH GRWK GZHOO )DLUH NQLJKW TXRWK KHf +LHUXVDOHP WKDW LV 7KH QHZ +LHUXVDOHP WKDW *RG KDV EXLOW P f f§ f f§ f§ } A f§ B } f§ )RU WKRVH WR GZHOO LQ WKDW DUH FKRVHQ KLV +LV FKRVHQ SHRSOH SXUJnG IURP VLQIXOO JXLOW 7LOO QRZ VDLG WKHQ WKH NQLJKW ZHHQHG ZHOO 7KDW JUHDW &OHRSROLV ZKHUH KDXH EHHQH ,Q ZKLFK WKDW IDLUHVW )DHULH 4XHHQH GRWK GZHOO 7KH IDLUHVW &LWLH ZDV WKDW PLJKW EH VHHQH $QG WKDW EULJKW WRZUH DOO EXLOW RI FKULVWDOO FOHHQH 3DQWKHD VHHPG WKH EULJKWHVW WKLQJ WKDW ZDV %XW QRZ E\ SURRIH DOO RWKHUZLVH ZHHQH )RU WKLV JUHDW &LWLH WKDW GRHV IDU VXUSDV $QG WKLV EULJKW $QJOHV WRZUH TXLWH GLPV WKDW WRZUH RI JODV 0RVW WUHZ WKHQ VDLG WKH KROG DJHG PDQ
PAGE 270

FURVVH LV EHLQJ JURRPHG IRU 6DLQWKRRG WKLV PHDQV WKDW KLV IXWXUH WDVN ZLOO EH WR PDNH WKH VSLULW YLVLEOH WR EH WKH PHDQV ZKHUHE\ WKH HWHUQDO FDQ UHDOL]H LWVHOI LQ WKLV ZRUOG ,QGHHG WKH )DHULH 4XHHQHV WRZUH RI JODV LV WR EH FRPn SDUHG WR WKH DOFKHPLFDO YHVVHO ZKHUH WKH WUDQVPXWDWLRQ RI WKH DUFDQH VXEVWDQFH WDNHV SODFH SURMHFWHG WKHUH IURP WKH PLQG RI WKH DGHSW 6LPLODUO\ 5HGFURVVH WUDQVIRUPHG E\ KLV YLVLRQ RI WKH QHZ +LHUXVDOHP FDQ SURMHFW WKLV WUDQVIRUn PDWLRQ DQG VXEVHTXHQWO\ EH HWHUQL]HG RQO\ LQ SHUIHFW VHUYLFH WR WKH )DHULH 4XHHQH XQGDXQWHG E\ KLV NQRZOHGJH b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nVW WR VHHNH IRU IDPH

PAGE 271

$QG SURXH WK\ SXLVVDXQW DUPHV DV VHHPHV WKHH EHVW EHFDPH O[L O[YO[YLf +DG 5HGFURVVH DFWXDOO\ EHHQ D )DHU\ DV KH KLPVHOI KDG SUHn YLRXVO\ DVVXPHGf KH FRXOG QRW EHFRPH 6DLQW *HRUJH 6SHQn VHUnV )DHU\ODQG LV DV ZH ZRXOG VD\ WKH FROOHFWLYH XQFRQn VFLRXV DQG D WUXH )DHU\ WKHUHIRUH ZRXOG EH RQH RI WKH DUFKHW\SHV 7KH DUFKHW\SHV RI WKH FROOHFWLYH XQFRQVFLRXV KDYH LQ WKHPVHOYHV QR KXPDQLW\ WKH\ DUH IRUPV ZLWKRXW FRQn WHQW SDWWHUQV WKDW KDYH SRWHQWLDO UDWKHU WKDQ DFWXDO H[LVn WHQFH 7KH\ FDQ EH FRQVWHOODWHG WKH ZRUG PDGH IOHVKf RQO\ LQ D PRUWDO EHLQJ 7KH GLVWLQJXLVKLQJ PDUN RI 5HG FURVVHnV QDWXUDO UR\DOW\ WKHQ LV KLV UHODWLRQVKLS WR WKH XQFRQVFLRXV 7KH VRZLQJ RI WKH VHHG LQ WKH SULPD PDWHULD ZKLFK LV VXFK D IUHTXHQW PHWDSKRU LQ DOFKHP\ RFFXUUHG ZKHQ 0 WKH )DHU\ VWROH WKH LQIDQW 5HGFURVVH IURP KLV PRUWDO SDn UHQWV DQG EURXJKW KLP IURP WKLV ZRUOG LQWR )DHU\ODQG ZKHUH VLJQLILFDQWO\ KH ZDV KLGGHQ LQ D KHDSHG IXUURZ 7KDW VHHG ZKLFK ZDV VRZQ KDV EHJXQ WR EORVVRP LQWR PDWXULW\ 5HGFURVVH QRZ KDV RQO\ RQH PRUH WDVN EHIRUH KLP KH PXVW WUDQVPXWH ZKDW UHPDLQV RI KLV RZQ EDVH PHWDO XQWLO KH KLPn VHOI LV DQ XQDOOR\HG H[SUHVVLRQ RI SKLORVRSKLFDO JROG 7R GR WKLV KH PXVW WKHUHIRUH FRQTXHU WKH ZLQJHG PHUFXULDO GUDJRQ LQ KLPVHOI 7KH SDWWHUQ RI FLUFXODU GLVWLOODWLRQ RU WKH VSLUDO SURFHGXUH LV HYLGHQW WKURXJKRXW WKLV FDQWR 7KH RSHUDWLRQV VHW IRUWK LQ 5LSOH\ ZKLFK DUH UHOHYDQW WR WKLV SKDVH RI WKH

PAGE 272

RSXV DUH &RQJHODWLRQ &LEDWLRQ 6XEOLPDWLRQ )HUPHQWDWLRQ ([DOWDWLRQ DQG 0XOWLSOLFDWLRQ $OO RI WKHVH RSHUDWLRQV DUH FRQFHUQHG ZLWK WKH ILQDO FRQVROLGDWLRQ RI WKH DUFDQH VXEn VWDQFH DQG WKHUH LV DFFRUGLQJO\ FRQVLGHUDEOH FRQWDPLQDWLRQ DQG RYHUODSSLQJ LQYROYHG WKXV 5XODQG SRLQWV RXW WKDW IRU H[DPSOH &RQJHODWLRQ LV XVXDOO\ FRRUGLQDWHG E\ PDQ\ RWKHU RSHUDWLFQVaGHYDSRUDWLRQ H[DOWDWLRQ VXEOLPDWLRQ GLVWLOODn WLRQ HWF&RQJHODWLRQ 5LSOH\nV 6L[WK *DWHf LQYROYHV LQGXUDF\RQ RI &RORXU :K\WH $QG FRQI\[DF\RQ RI 6S\ULWV ZK\FK IOH\QJ DUH DQG FRUUHVSRQGV WR )LGHOLDnV LQVWUXFn WLQJ 5HGFURVVH LQ KHDXHQO\ OHDUQLQJ DV GRHV IRU WKDW PDWWHU &LEDWLRQ 5LSOH\nV 6HYHQWK *DWHf ZKLFK LV D IHG\QJ RI RXU 0DWWHU GU\ :LWK 0\,NH DQG 0HWH $V ZH NQRZ IURP 5HGFURVVHnV UHDFWLRQ WR WKH VSLULWXDO IRRG WKDW KH UHFHLYHG IURP )LGHOLD WKLV IHHGLQJ RI WKH VXEVWDQFH UHDOn O\ D NLQG RI VSLULWXDOL]DWLRQf FDQ EH YHU\ GDQJHURXV %XW JHYH \W QRW VR PXFK WKDW WKRX K\W JOXW RI WKH 'URSV\ DQG DOVR RI 1R\HV )ORRG %\ O\WW\OO DQG O\WW\OO WKHUIRUH WKRX WR K\W SXW 2I PHWH DQG 'U\QNH VHP\WK WR GR K\W JRRG 7KDW ZDWU\ KXPRUV QRW RYHUJURZ WKH EORRG 7KH VXGGHQ RXWSRXULQJ RI FRQWHQW IURP WKH FROOHFWLYH XQFRQn VFLRXV GRHV RYHUZKHOP 5HGFURVVHnV IUDJLOH FRQVFLRXVQHVV DQG WKH ZDWHU\ KXPRUV KDYLQJ LQGHHG RYHUJURZQ WKH EORRG KH IDOOV YLFWLP WR WKH 'URSV\ DQG 1R\HV )ORRG DQG SOXQJHV LQWR D VXLFLGDO GHVSDLU 6SHQVHU FOHDUO\ KDG WKHVH GDQJHUV VSHFLILFDOO\ LQ PLQG IRU WKH VWUHLJKW GLHW ZKLFK 3DWLHQFH XVHV WR HIIHFW 5HGFURVVHnV UHFRYHU\ IROORZV 5LSOH\ H[DFWO\

PAGE 273

$QG \I WKRX G\DWW K\W DV 1DWXUH GRWK UHTX\UHf 0RGHUDWO\ W\OO K\W EH IURZHQ WR DJH )UR &ROG K\W NHS\QJ DQG QXUU\VK\QJ Z\WK PR\VW I\UH 7KDQ VKDOO \W JURZ DQG ZD[ IXOO RI FRUUDJH $QG GR WR WKHH ERWK SOHVXUH DQG DGYDXQWDJH )RU KH VKDOO PDNH GDUNH %RG\V KROH DQG EU\JKW &OHQV\QJ WKH\HU /HSURVHQHV WKRURZ K\V P\JKW 6XEOLPDWLRQ 5LSOH\nV (LJKWK *DWHf FRUUHVSRQGV SULQFLSDOO\ WR WKH WHDFKLQJV RI &KDULVVD ZKR HPSKDVL]LQJ WKDW 5HG FURVVH PXVW RYHUFRPH ZUDWK DQG KDWH YHQRPf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nV 1LQWK *DWHf LV LQ HIIHFW D FRQWLQXn DWLRQ RI WKH SUHYLRXV SURFHGXUH DQG FRUUHVSRQGV WR WKH WHDFKLQJV RI 0HUFLH WKH N\QGO\ VPHOOf %XW )HUPHQWDFLQ WUHZ DV WKH WHOO
PAGE 274

:KHUHE\ WKH %RG\ RI WKH 6SU\WH WDN\WK LPSUHVn VLRQ 7KDW H\WKHU RWKHU PD\ KHOSH WR KDYH LQJUHV VLRQ ([DOWDWLRQ 5LSOH\nV 7HQWK *DWHf FRUUHVSRQGV WR 5HGFURVVHnV DVFHQW ZLWK &RQWHPSODWLRQ WR WKH KLJKHVW 0RXQW
PAGE 275

VQDWFKHV XS ERWK KRUVH DQG PDQ WR EHDUH WKHP TXLWH DZD\ ,, :LWK WKUHH PHQV VWUHQJWK YQWR WKH VWURNH 5HGFURVVH PDQDJHV WR ZRXQG KLV DGYHUVDU\ XQGHU WKH ZLQJ FDXVLQJ KLP WR UHn OHDVH WKH KRUVH DQG ULGHU 7KRXJK KH SUHVVHV KLV DWWDFN E\ WDNLQJ VZRUG DQG VPRWLQJ WKH ZRXQGHG GUDJRQ ZLWK RXWn UDJHRXV PLJKW KH LV RYHUZKHOPHG E\ WKH VFRUFKLQJ )ODPH WKDW WKURXJK KLV DUPRXU DOO KLV ERGLH VHDUHG VHWV 5HGFURVVH IDOOV LQWR 7KH ZHOO RI OLIH ,, $V WKH VXQ 8QD NHHSV DQ DOOQLJKW YLJLO IRU KHU NQLJKW WKLQNLQJ KLP VODLQ E\ WKH GUDJRQ EXW LV UHZDUGHG WKH QH[W PRUQLQJ E\ WKH VLJKW RI KLV ULVLQJ $V (DJOH IUHVK RXW RI WKH 2FHDQ ZDXH )XOO\ UHQHZHG 5HGFURVVH PHHWV WKH RQVODXJKW RI WKH GUDJRQ ZLWK HYHQ JUHDWHU VWUHQJWK WKDQ EHIRUH 7KLV WLPH KH LV DEOH WR VHYHU WKH GUDJRQnV WDLO )LXH LR\QWV WKHUHRI KH KHZHG DQG EXW WKH VWXPS KLP OHIW $JDLQ RYHUFRPH E\ WKH +XJH IODPHV WKDW GLPPHG DOO WKH KHDXHQV OLJKW KH IDOOV EHVLGH 7KH WUHH RI OLIH IURP ZKHQFH WKHUH IORZHG DV IURP D ZHOO $ WULFNOLQJ VWUHDPH RI %DOPH ZKLFK JDYH /LIH DQG ORQJ KHDOWK DQG GHDGO\ ZRXQGV FRXOG KHDO 7KH GUDJRQ QRW GDULQJ WR DSSURDFK WKH WUHH RI OLIH EDFNV DZD\ DV WKH GD\n OLJKW IDGHV 8QD RQFH DJDLQ SUD\LQJ IRU KLV VDIHW\ UHn PDLQV DW 5HGFURVVHnV VLGH WR ZDWFK WKH QR\RXV QLJKW DQG ZDLW IRU LR\RXV GD\ ZKLOH KH OLHV EDWKHG LQ %DOPH DV LQ D GUHDPH RI GHHS GHOLJKW 2Q WKH QH[W GD\ KH ULVHV DJDLQ DQG ZKHQ WKH GUDJRQ DWWDFNV KH WKUXVWV KLV ZHDSRQ LQWR WKH EHDVWnV PRXWK ZKHUHXSRQ LWV OLIHnV EORRG UXQV RXW

PAGE 276

DQG IDOOLQJ WR WKH JURXQG LW OLNH DQ KHDSHG PRXQWDLQ OD\ 8QD VHHLQJ WKDW LR\RXV HQG SUDLVHV *RG DQG WKDQNV KHU IDLWKIXOO NQLJKW 7KDW KDG DWFKLHXnG VR JUHDW D FRQn TXHVW E\ KLV PLJKW $QDO\VLV DQG &RPPHQWDU\ 7KH HYHQWV RI WKLV FDQWR FRUUHVSRQG WR 3URMHFWLRQ ZKLFK LV 5LSOH\n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nV SOD\ 7KH +RQRUDEOH +LVWRULH RI )U %DFRQ DQG )ULHU %RQJD\ ILUVW SHUIRUPHG LQ f LQ WKH FKDSWHU RI KLV 0LUURXU RI $OFKLP\ HQWLWOHG +RZ WR PDNH 3URMHFWLRQ RI WKH 0HGLFLQH YSRQ DQ\ LPSHUIHFW ERGLH GLVn FXVVHV WKH RSHUDWLRQ WKXV KDYH ODUJHO\ DFFRPSOLVKW P\ SURPLVH RI WKDW JUHDW PDVWHULH IRU PDNLQJ WKH PRVW H[FHOOHQW (OL[HU UHG DQG ZKLWH )RU FRQFOXVLRQ ZH DUH WR WUHDWH RI WKH PDQQHU RI SURLHFWLRQ ZKLFK LV WKH DFFRPSOLVKPHQW RI WKH ZRUN WKH GHVLUHG DQG H[SHFWHG LR\ 7KH UHG (OL[HU GRWK WXUQH LQWR D FLWULQH FRORXU LQILQLWHO\ DQG FKDQ

PAGE 277

JHWK DOO PHWWDOV LQWR SXUH JROG $QG WKH ZKLWH (OL[HU GRWK LQILQLWHO\ ZKLWHQ DQG EULQJHWK HXHULH PHWWDO WR SHUIHFW ZKLWHQHVVH 7KH DWWDLQPHQW RI WKH ZKLWH (OL[LU UHSUHVHQWV WKH WUDQVPXn WDWLRQ RI /XQD LQWR VLOYHUWKH EULQJLQJ RI HXHULH PHWWDO WR SHUIHFW ZKLWHQHVVH RU SV\FKRORJLFDOO\ WKH SXULILn FDWLRQ RI WKH XQFRQVFLRXV ZKLFK LV V\PEROL]HG LQ 7KH )DHULH 4XHHQH E\ WKH UHXQLWLQJ RI 5HGFURVVH ZLWK 8QD WKXV PDNLQJ SRVVLEOH WKH YLVLW WR WKH +RXVH RI +ROLQHVVH 7KH DOFKHPLn FDO IDLU\WDOH 7KH 6SLULW LQ WKH %RWWOH LV FRQFHUQHG ZLWK WKLV VWDJH RI WKH RSXV IRU WKH ER\nV PDJLF UDJf§UHDOO\ WKH ZKLWH (OL[LU LQ DGGLWLRQ WR KHDOLQJ DOO ZRXQGV FDQ DOVR FKDQJH PHWDOV LQWR VLOYHU 7KH DWWDLQPHQW RI WKH UHG (OL[LU UHSUHVHQWV WKH WUDQVPXWDWLRQ RI 6RO LQWR JROG RU SV\FKRn ORJLFDOO\ WKH SXULILFDWLRQ RI FRQVFLRXVQHVV ZKLFK KDV DV LWV XOWLPDWH JRDO WKH DFTXLVLWLRQ RI ZLVGRP DQG SKLORVRSKLn FDO LQVLJKW $FFRUGLQJ WR %DFRQ WKHUH LV D GHILQLWH WLPH VFKHPH IRU WKH ILQDO RSHUDWLRQ ZLOO WKHUHIRUH QRZ GHOLXHU YQWR \RX D JUHDW DQG KLGn GHQ VHFUHW 2QH SDUW LV WR EHH PL[HG ZLWK D WKRXn VDQG RI WKH QH[W ERG\ t OHW DOO WKLV EH VXUHO\ SXW LQWR D ILW YHVVHOO DQG VHWWOH LW LQ D IXUQDFH RI IL[DWLRQ ILUVW ZLWK D OHQW ILUH DQG DIWHUZDUGV HQFUHDVLQJ WKH ILUH IRU WKUHH GD\HV WLOO WKH\ EH LQVHSDUDEO\ LR\QHG WRJHWKHU DQG WKLV LV D ZRUNH RI WKUHH GD\V ,W LV VLJQLILFDQW WKDW 6SHQVHU IROORZV %DFRQnV WLPHVFKHPH H[DFWO\ IRU 5HGFURVVHnV ILQDO DFKLHYHPHQW LV LWVHOI D ZRUN RI WKUHH GD\V DV LV HPSKDVL]HG LQ WKH HSLJUDP WR &DQWR ;, 7KH NQLJKW ZLWK WKDW ROG 'UDJRQ ILJKWV WZR GD\HV LQFHVVDQWO\ 7KH WKLUG KLP RXHUWKURZHV DQG JD\QV PRVW JORULRXV YLFWRU\

PAGE 278

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

PAGE 279

%XW VWLQJV DQG VKDUSHVW VWHHOH GLG IDU H[FHHG 7KH VKDUSQHVVH RI KLV FUXHOO UHQGLQJ FODZHV 'HDG ZDV LW VXUH DV VXUH DV GHDWK LV GHHG :KDW HXHU WKLQJ GRHV WRXFK KLV UDXHQRXV SDZHV 2U ZKDW ZLWKLQ KLV UHDFK KH HXHU GUDZHV %XW KLV PRVW KLGHRXV KHDG P\ WRXQJ WR WHOO 'RHV WUHPEOH IRU KLV GHHSH GHXRXULQJ LDZHV :LGH JDSHG OLNH WKH JULHVO\ PRXWK RI KHOO 7KURXJK ZKLFK LQWR KLV GDUNH DELVVH DOO UDXLQ IHOO $QG WKDW PRUH ZRQGURXV ZDV LQ HLWKHU LDZ 7KUHH UDQFNHV RI \URQ WHHWK HQUDXQJHG ZHUH ,Q ZKLFK \HW WULFNOLQJ EORXG DQG JREEHWV UDZ 2I ODWH GHXRXUHG ERGLHV GLG DSSHDUH 7KDW VLJKW WKHUHRI EUHG FROG FRQJHDOHG IHDUH :KLFK WR LQFUHDVH DQG DOO DWRQFH WR NLOO $ FORXG RI VPRRWKHULQJ VPRNH DQG VXOSKXU VHDUH 2XW RI KLV VWLQNLQJ JRUJH IRUWK VWHHPHG VWLOO 7KDW DOO WKH D\UH DERXW ZLWK VPRNH DQG VWHQFK GLG ILOO +LV EOD]LQJ H\HV OLNH WZR EULJKW VKLQLQJ VKLHOGV 'LG EXUQH ZLWK ZUDWK DQG VSDUNOHG OLXLQJ I\UH $V WZR EURDG %HDFRQV VHW LQ RSHQ ILHOGV 6HQG IRUWK WKHLU IODPHV IDUUH RII WR HXHU\ VK\UH $QG ZDUQLQJ JLXH WKDW HQHPLHV FRQVS\UH :LWK ILUH DQG VZRUG WKH UHJLRQ WR LQXDGH 6R IODPnG KLV H\QH ZLWK UDJH DQG UDQFRURXV \UH %XW IDUUH ZLWKLQ DV LQ D KROORZ JODGH 7KRVH JODULQJ ODPSHV ZHUH VHW WKDW PDGH D GUHDGIXOO VKDGH f f f f ? 9OOO;LYf :KDW LV PRVW VLJQLILFDQW DERXW WKH 'UDJRQ LV WKDW KH LV DVn VRFLDWHG ZLWK WKH YHU\ PHWDOV ZKLFK PXVW EH WUDQVPXWHGf§ VWHHO EUDVV DQG LURQ KLV ERG\ SURWHFWLRQ LV OLNH SODWHG FRDWH RI VWHHOH L[f KLV EDFN DQG WDLO DUH EUDVVFDO\ [Lf KLV PRXWK KDV WKUHH UDQFNHV RI \URQ WHHWK [LLLf DQG DV ZH GLVFRYHU ODWHU LQ WKH FDQWR KH KDV \URQ ZLQJV [[[Lf ,Q KLV FKRLFH RI WKHVH SDUWLFXODU PHWDOV 6SHQVHU VHHPV WR EH IROORZLQJ %DFRQ ZKR OLVWV WKHP WKXV DFFRUGLQJ WR WKH SXULWLH DQG LPSXULWLH RI WKH WZR DIRUHVDLGH SULQFL

PAGE 280

SLHV $UJHQWXLXH DQG 6XOSKXU SXUH DQG LPSXUH PHWWDOV DUH LQJGUHG WR ZLW *ROG 6LOXHU 6WHHOH /HDGH &RSSHU DQG ,URQ VLQFH EUDVV LV DQ DOOR\ RI FRSSHU EUDVV DQG FRSn SHU DUH RIWHQ XVHG LQWHUFKDQJHDEO\DV LQ 7KRPDV 1RUWRQnV 7KH 2UGLQDOO RI $OFKLP\f§ ZKLFK VXJJHVWV WKDW 6SHQVHUnV VWHHO EUDVV DQG LURQ FRUUHVSRQG H[DFWO\ WR %DFRQnV VWHHO FRSSHU DQG LURQ $W DQ\ UDWH WKH $UJHQWXLXH DQG 6XOn SKXU DUH DFFRXQWHG IRU E\ WKH IDFW WKDW WKH 'UDJRQ LV LWn VHOI PHUFXULDO DQG LV DVVRFLDWHG ZLWK VXOSKXU$ FORXG RI VPRRWKHULQJ VPRNH DQG VXOSKXU VHDUH 2XW RI KLV VWLQNLQJ JRUJH IRUWK VWHHPHG VWLOO [LLLf $V ZH KDYH VHHQ WKH RULJLQDO OHDG ZKLFK ZDV DVVRFLDWHG ZLWK 0RUSKHXV KDV E\ PHDQV RI WKH ZKLWH (OL[LU EHHQ WUDQVPXWHG WR VLOYHU :KDW UHPDLQV IRU 5HGFURVVH WKHQ LV WR SURMHFW WKH 5HG (OL[LU RQWR WKH UHPDLQLQJ WKUHH PHWDOV WKXV WUDQVPXWLQJ WKHP LQWR JROG $V ZH VKDOO VHH WKLV WUDQVPXWDWLRQ GRHV WDNH SODFH b DW WKH UDWH RI RQH PHWDO IRU HDFK RI WKH WKUHH GD\V RI 5HGFURVVHnV VWUXJJOH ZLWK WKH 'UDJRQ DQG LQ H[DFWO\ WKH RUGHU RI WKHLU LQFUHDVLQJ LPSXULW\ 7KH 'UDJRQ LV PRUHRYHU DVVRFLDWHG ZLWK WZR RI WKH WKUHH DOFKHPLFDO FRORUVf§EODFN ZKLWH UHG KLV WDLO LV %HVSRWWHG DV ZLWK VKLHOGV RI UHG DQG EODFNH [Lf ,W LV VLJQLILFDQW WKDW WKH ILUVW KDOI RI WKH RSXV ZDV FKDUDFn WHUL]HG E\ WKH SUHGRPLQDQFH RI WKH FRORUV EODFN DQG ZKLWH VLQFH WKH :KLWH :RUN LV LQ HIIHFW WKH WUDQVIRUPLQJ RI EODFN LQWR ZKLWH E\ WKH VDPH WRNHQ WKH VHFRQG KDOI RI WKH

PAGE 281

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nG $V GLG WKLV NQLJKW WZHOXH WKRXVDQG GRORXUV GDXQW :KRP I\ULH 6WHHOH QRZ EXUQW WKDW HDUVW KLP DUPnG 7KDW HUVW KLP JRRGO\ DUPnG QRZ PRVW RI DOO KLP KDUPG )DLQW ZHDULH VRUH HPER\OHG JULHXHG EUHQW :LWK KHDW WR\OH ZRXQGV DUPHV VPDUW DQG LQZDUG ILUH :KDW QHXHU PDQ VXFK PLVFKLHIHV GLG WRUPHQW [[Y[[YLLLf $IWHU WKH 'UDJRQ KDG VQDWFKHG XS ERWK KRUVH DQG ULGHU DQG OLIWHG WKHP LQWR WKH DLU 5HGFURVVH KDG PDQDJHG ILQDOO\ WR SLHUFH WKH EHDVW MXVW XQGHU WKH ZLQJ LQ WKH EUHDVW ZKLFK

PAGE 282

DV ZH UHFDOO ZDV OLNH SODWHG FRDW RI VWHHOH 2QFH DJDLQ RQ WKH JURXQG DQG SUHVVLQJ KRPH WKH DWWDFN ZLWK GHVSHUDWH IXU\ 5HGFURVVH LV HQJXOIHG LQ VFRUFKLQJ IODPH IURP WKH ZLGH GHXRXULQJ RXHQ ,, ,QGHHG WKLV LV ILWWLQJ IRU WKH NQLJKW LV KLPVHOI WKH VXEVWDQFH XQGHUJRLQJ WUDQVPXWDWLRQ LQ WKH DOFKHPLFDO YHVVHO DQG LQ RUGHU WR DFKLHYH WKH SURMHFn WLRQ XSRQ WKH VWHHO ZKLFK LV \HW SDUW RI 5HGFURVVHnV SHUn VRQDOLW\ WKH IODPH KDV LQFUHDVHG DQG WKH KHDW LV LQ 7KH DPELJXRXV SURQRXQ UHIHUHQFH LV QRW GXH WR FDUHn OHVVQHVV EXW WR GHVLJQ IRU LQ DWWDFNLQJ WKH 'UDJRQ 5HGn FURVVH LV DWWDFNLQJ KLPVHOI :H PXVW EHDU LQ PLQG WKDW LW ZDV ZLWK WKH NQLJKWnV RZQ SHUFLQJ VWHHOH [[f WKDW WKH 'UDJRQ ZDV ZRXQGHG DQG \HW LW LV 5HGFURVVH :KRP I\ULH VWHHOH QRZ EXUQW WKDW HDUVW KLP DUPnG 7KDW HUVW KLP JRRGO\ DUPnG QRZ PRVW RI DOO KLP KDUPnG ,W LV WKHUHn IRUH QR FRLQFLGHQFH WKDW RQ WKH ILUVW GD\ WKH 'UDJRQ LV FRPSDUHG WR DQ (DJOH VHHLQJ SUD\ DSSHDUH L[f DQG WKHQ RQ WKH VHFRQG GD\ 5HGFURVVH ULVHV IURP WKH ZHOO RI OLIH $V (DJOH IUHVK RXW RI WKH 2FHDQ ZDXH [[[LYf WKH NQLJKW LV VXEMHFW DQG REMHFW SUHGDWRU DQG SUH\ +H LV DOVR ZKDW %DFRQ WHUPV WKH PLQHUDOO PRXQWDLQH IRU ZKDW LV KDSSHQLQJ WR 5HGFURVVH LV PHUHO\ DQ DUWLILFDOO\ DFFHOHUDWHG YHUVLRQ RI D SURFHVV WKDW RFFXUV QDWXUDOO\ LQ 1DWXUH WKURXJK WKH FRQWLQXDO HTXDO KHDWH LQ WKH PRXQWDLQH LQ ORQJ SURFHVVH RI WLPH GLXHUVH PHWWDOV DUH HQJHQGUHG DFFRUGLQJ WR WKH GLXHUVLWLH RI WKH SODFH )RU WKLV FDXVH ZHH DUH RI ULJKW WR QRWH WKDW WKH H[WHUQDO PLQH UDLO PRXQWDLQH LV HXHULH ZKHUH VKXW YS ZLWKLQ LW DQG VWRQLH

PAGE 283

7KXV WKH 'UDJRQ LV OLNH DQ KHDSHG PRXQWDLQ OLYf DQG DV LI LOOXVWUDWLQJ %DFRQnV ZDUQLQJ WKDW LW LV D KDUG PDWn WHU WR SURLHFW DQG LQFRQWLQHQWO\ WR SHQHWUDWH DQG WUDQVn PXWH WKHUH LV ILHUFH UHVLVWDQFH WR 5HGFURVVHnV HIIRUWV WR SHQHWUDWH WR WKH FHQWHU EDFN DJDLQH WKH VSDUNOLQJ VWHHOH UHFR\OG $QG OHIW QRW DQ\ PDUNH ZKHUH LW GLG OLJKW $V LI LQ $GDPDQW URFNH LW KDG EHQH SLJKW [[Yf 5HG FURVVH LQ KLV DUPRU LV PRUHRYHU PXFK OLNH WKH PRXQWDLQ ZKLFK LV HXHULH ZKHUH VKXW YS ZLWKLQ LW VHOIH IRU ZKHQ WKH WUDQVPXWLQJ IODPH GRHV SHQHWUDWH WKH SURMHFWLRQ WKURXJK KLV DUPRXU DOO KLV ERGLH VHDUG [[YLf ,W IRUWXQHG DV IDLUH LW WKHQ EHIHOOf %HKLQG KLV EDFNH YQZHHWLQJ ZKHUH KH VWRRG 2I DXQFLHQW WLPH WKHUH ZDV D VSULQJLQJ ZHOO )URP ZKLFK IDVW WULFNOHG IRUWK D VLOXHU IORRG )XOO RI JUHDW YHUWXHV DQG IRU PHGnFLQH JRRG :K\ORPH EHIRUH WKDW FXUVHG 'UDJRQ JRW 7KDW KDSSLH ODQG DQG DOO ZLWK LQQRFHQW EORRG 'HI\OG WKRVH VDFUHG ZDXHV LW ULJKWO\ KRW 7KH YHOO RI OLIH QH \HW KLV YHUWXHV KDG IRUJRW )RU YQWR OLIH WKH GHDG LW FRXOG UHVWRUH $QG JXLOW RI VLQIXOO FULPHV FOHDQH ZDVK DZD\ 7KRVH WKDW ZLWK VLFNQHVVH ZHUH LQIHFWHG VRUH ,W FRXOG UHFXU DQG DJHG ORQJ GHFD\ 5HQHZ DV RQH ZHUH ERUQH WKDW YHU\ GD\ %RWK 6LOR WKLV DQG ,RUGDQ GLG H[FHOO $QG WKn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f

PAGE 284

7KLV IRXQWDLQ ZKLFK KDV EHFRPH WKH ZHOO RI OLIH DQG FDQ EUHDN WKH VSHOO ZKLFK ERXQG )UDGXELR DQG )UDHOLVVD WR WKHLU HXLO SOLJKW ,OL[OLLLf ZH KDYH HQFRXQWHUHG DOUHDG\ DV WKH &KULVWDOO VWUHDPH :KLFK IURP D VDFUHG IRXQWDLQH ZHOOHG IRUWK DOZD\ ,[[[LYf MXVW DW WKH WLPH WKDW $UFKLPDJR WROG 5HGFURVVH WKDW ZLWK WKH 6XQQH WDNH 6LU \RXU WLPHO\ UHVW ,[[[LLLf DQG LW LV DOVR WKH VWUHDPH DV FOHDUH DV FULV WDOO JODV IURP ZKLFK 5HGFURVVH GUDQN ZLWK 'XHVVD DQG EHn FDXVH RI KLV LPSHUIHFWLRQ ZKDW ZDV PLJKWLH VWURQJ ZDV WXUQHG WR IHHEOH IDLOH 9,,YLf DQG KH ZDV SOXQJHG LQWR D QLJKW RI XQFRQVFLRXVQHVV WKDW ODVWHG QLQHW\ GD\V 7KH :KLWH :RUN KDYLQJ EHHQ DFKLHYHG WKH IRXQWDLQ LV DW ODVW D VLOXHU IORRG IRU /XQD KDV LQGHHG EHFRPH SXUHVW VLOYHU DQG KHU ZDWHUV DUH DFFRUGLQJO\ )XOO RI JUHDW YHUWXHV DQG IRU PHGnFLQH JRRG 6WHHO KDV EHHQ WUDQVPXWHG DQG ZKLOH WKH RSXV VWLOO DZDLWV SURMHFWLRQ RQWR EUDVV DQG LURQ 5HGn FURVVH KDV EHFRPH WKH JROGHQ 3KRHEXV WKDW ZDV IRUHVKDGRZHG LQ $UWKXU ZKRVH JOLWWHUDQG DUPRXU VKLQHG IDUUH DZD\ /LNH JODXQFLQJ OLJKW RI 3KRHEXV EULJKWHVW UD\ )URP WRS WR WRH QR SODFH DSSHDUHG EDUH 7KDW GHDGO\ GLQW RI 6WHHOH HQGDQJHU r PD\ 9,,[[L[f 7KH SULQFLSOHV LQWHUPLQJOLQJ LQ WKH ZHOO RI OLIH KD9LQJ EHFRPH JROG DQG VLOYHU WKH ZDWHUV FDQ QRZ UHVWRUH WKH GHDG WR OLIH DQG ZDVK DZD\ JXLOW RI VLQIXO FULPH m :KLFK ZKHQ KLV SHQVLXH /DGLH VDZ IURP IDUUH *UHDW ZRH DQG VRUURZ GLG KHU VRXOH DVVD\ $V ZHHQLQJ WKDW WKH VDG HQG RI WKH ZDUUH $QG JDQ WR KLJKHVW *RG HQWLUHO\ SUD\

PAGE 285

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f 7KH VROLFLWXGH ZKLFK 8QD GLVSOD\V WRZDUG 5HGFURVVH ZH KDYH VHHQ EHIRUH RQ DQRWKHU SODQH ZKHQ DIWHU WKH GHIHDW E\ 2U A JRJOLR 8QD DV WKH DUFKHW\SH RI /LIH KDG EURXJKW WR WKH UHVFXH RI 5HGFURVVHnV HFOLSVHG FRQVFLRXVQHVV 3ULQFH $UWKXU ZKR DV WKH ILOLXV SKLORVRSKRUXP SURGXFHG E\ WKH FRQLXQFWLRQ RI 6RO DQG /XQD UHSUHVHQWHG DV ZH ZRXOG VD\ WKH DUFKHW\SH RI WKH GLYLQH 6HOI DQG WKHUHIRUH WKHRORJLFDOO\ WKH LGHD RI GLYLQH JUDFH %XW QRZ WKH ZKROHQHVV WKDW ZDV IRUHVKDn GRZHG LQ $UWKXU LV FRQVWHOODWHG LQ 5HGFURVVH ZKR KDV KLPVHOI EHFRPH WKH ILOLXV SKLORVRSKRUXP 8SWRQ FRPPHQWLQJ RQ WKH SDUDOOHO EHWZHHQ 6SHQVHUnV LPDJH RI WKH ULVLQJ HDJOH DQG 3VDOP 7K\ \RXWK LV UHQHZHG OLNH WKH HDJOHf§ RE

PAGE 286

VHUYHV WKDW 7KH LQWHUSUHWHUV WHOO XV WKDW WKH HDJOH VRDUV LQWR WKH ILHU\ UHJLRQ IURP WKHQFH SOXQJHV KLPVHOI LQn WR WKH VHD ZKHUH PROWLQJ KLV ROG IHDWKHUV KH DFTXLUHV QHZ 5HGFURVVH EHFDXVH RI WKH SXULILFDWLRQ ZKLFK KH KDV XQGHUJRQH LQ WKH +RXVH RI +ROLQHVVH DQG QRZ WKH EDSWLVP E\ ILUH DQG ZDWHU ULVHV IRUWK OLNH WKH (DJOH IURP WKH ZHOO RI OLIH DV D QHZERUQH NQLJKW WR EDWWHOO QHZ VPDOO ZRQGHU LI KH PDUXHLOHV DW KLPVHOIH IRU KLV UHDZDn NHQLQJ LQWR 6HOIKRRG LV QR OHVV UDGLFDO D WUDQVIRUPDWLRQ WKDQ D EXWWHUIO\ DV LW HPHUJHV IURP WKH FKU\VDOLV RU OHVV P\VWHULRXV 7KH SURIRXQG MR\ DVVRFLDWHG ZLWK WKLV PRPHQW LV FHOHEUDWHG WKXV LQ WKH $XURUD &RQVXUJHQV 7KHUHIRUH LQ WKH 5HG 6HD WKHUH ZDV D ZD\ ZLWKRXW KLQGUDQFH VLQFH WKLV JUHDW DQG ZLGH VHD VPRWH WKH URFN DQG WKH PHWDOOLF ZDWHUV IORZHG IRUWK 7KHQ WKH ULYHUV GLVDSSHDUHG LQ GU\ ODQG ZKLFK PDNH WKH FLW\ RI *RG MR\IXO ZKHQ WKLV PRUWDO VKDOO SXW RQ LPPRUn WDOLW\ DQG WKH FRUUXSWLRQ RI WKH OLYLQJ VKDOO SXW RQ LQFRUUXSWLRQ WKHQ LQGHHG VKDOO WKDW ZRUG FRPH WR SDVV ZKLFK LV ZULWWHQ 'HDWK LV VZDOORZHG XS LQ YLFWRU\ 2 GHDWK ZKHUH LV WK\ YLFWRU\" :KHUH WK\ VLQ DERXQGHG WKHUH QRZ JUDFH GRWK PRUH DERXQG )RU DV LQ $GDP DOO GLH VR DOVR LQ &KULVW DOO PHQ VKDOO EH PDGH DOLYH )RU E\ D PDQ LQGHHG FDPH GHDWK DQG E\ -HVXV KLPVHOI WKH UHVXUUHFWLRQ RI WKH GHDG )RU WKH ILUVW $GDP DQG KLV VRQV WRRN WKHLU EHJLQQLQJ IURP WKH FRUUXSWLEOH HOHPHQWV DQG WKHUHIRUH LW ZDV QHHGIXO WKDW WKH FRPn SRVHG VKRXOG EH FRUUXSWHG EXW WKH VHFRQG $GDP ZKR LV FDOOHG WKH SKLORVRSKLF PDQ IURP SXUH HOHPHQWV HQn WHUHG LQWR HWHUQLW\ 7KHUHIRUH ZKDW LV FRPSRVHG RI VLPSOH DQG SXUH HVVHQFH UHPDLQHWK IRU HYHU %XW EHIRUH 5HGFURVVH FDQ DWWDLQ WKH LQFRUUXSWLELOLW\ RI WKH VHFRQG $GDP KH PXVW VXEVWDQWLDWH WKH VSLULW E\ DFKLHYLQJ WKH YLFWRU\ WKDW RQ DQRWKHU OHYHO ZH KDYH DVVRFLDWHG ZLWK $UWKXUnV EDWWOH ZLWK 2UJRJOLR

PAGE 287

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n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nG ZLWK ZUDWK KLV UDJLQJ EODGH KH KHIW $QG VWURRNH VR VWURQJO\ WKDW WKH NQRWW\ VWULQJ 2I KLV KXJH WDLOH KH TXLWH D VXQGHU FOHIW )LXH LR\QWV WKHUHRI KH KHZG DQG EXW WKH VWXPS KLP OHIW [[[Y[[[L[f

PAGE 288

0DUNLQJ DV LW GRHV D FUXFLDO MXQFWXUH LQ WKH RSXV DOFK\PL FXP LW LV QRW VXUSUL]LQJ WKDW DQ DVWRXQGLQJ ZHDOWK RI UHODn WLRQVKLSV VKRXOG EH FRPSUHVVHG LQWR WKLV SDVVDJH 7R EHJLQ ZLWK VLQFH WKH 0HOXVLQD LV FOHDUO\ SUHVHQW LQ WKH )LUH 'UDJRQ ZH ILQG DQ H[SUHVVLRQ RI WKH XURERURV UHODWLRQVKLS :H ZLOO UHFDOO WKDW WKH 0HOXVLQD VSHZG RXW RI KHU ILOWK\ PDZ $ IORXG RI SR\VRQ KRUULEOH DQG EODFNH )XOO RI JUHDW OXPSV RI IOHVK DQG JREEHWV UDZ ,[[f WKHUH LV D VLPLODU GHVFULSWLRQ RI WKH )LUH 'UDJRQnV PRXWK ,Q ZKLFK \HW WULFNn OLQJ EORXG DQG JREEHWV UDZ 2I ODWH GHXRXUHG ERGLHV GLG DSSHDUH ;,[QLf 7KHUHIRUH ZKHQ 5HGFURVVH VPLWHV WKH )LUH 'UDJRQnV FUHVWHG VFDOH DQG PDNHV D \DZQLQJ ZRXQG LW LV VLJQLILFDQW WKDW 7KH GHDGO\ GLQW KLV GXOOHG VHQVHV DOO GLVPDLG 1RZ GLVPDLG LV H[DFWO\ ZKDW 5HGFURVVH GLG WR WKH 0HOXVLQD :H UHFDOO WKDW KHU XSSHU KDOI KDG ZRPDQV VKDSH ,[LYf DQG DFFRUGLQJO\ WKDW VKH KDG D PDLGHQnV KHDG OLWHUDOO\f 7KH VLJQLILFDQFH RI KHU GHIHDW E\ 5HGFURVVH LV WKDW VKH ORVW KHU PDLGHQf KHDG VWURRNH DW KHU ZLWK PRUH WKDQ PDQO\ IRUFH 7KDW IURP KHU ERG\ IXOO RI ILOWKLH VLQ +H UDIW KHU KDWHIXOO KHDG ZLWKRXW UHPRUVH ,, ,U[[LYf 7KLV V\PEROL]HV 5HGFURVVHnV VXUUHQGHU WR WKH IHPLQLQH SULQFLSOH LQ D UHJUHVVLRQ ZKLFK KLV VSLULWXDO LQFHVW ZLWK 'XHVVD 1RZ LI DV ZH KDYH VHHQf WKH 0HOXVLQD LV 'XHVVD WKH )LUH 'UDJRQ RQ RQH OHYHOf LV 2U JRJOLR DQG WKH SULQFLSOH RI PDVFXOLQH VH[XDOLW\ 5HGFURVVHnV WDVN LQ WKLV SDUW RI WKH RSXV WKHQ LV WR UHURXWH WKH VH[XDO OLELGR LQ WKH GLUHFWLRQ RI KLJKWHQHG VSLULWXDOLW\ IRU LQ

PAGE 289

GHHG WR GR RWKHUZLVH ZRXOG EH WDQWDPRXQW WR GHDWK ,W LV ILWWLQJ WKHUHIRUH WKDW WKH )LUH 'UDJRQ ZLWK KLV VWLQJf§ GHDWK ZKHUH LV WK\ VWLQJ" &RU fLV WKH RQH ZKR FUHDWHV WKH YDOOH\ RI WKH VKDGRZ $QG PDGH ZLGH VKDGRZ YQWHU KLV KXJH ZDVW $V PRXQWDLQH GRWK WKH YDOOH\ RXHU FDVWH ;,YLLLf 7KH GUDJRQ LV QRW RQO\ GHDWK EXW KHOO KLV GHHSH GHXRXULQJ LDZHV :LGH JDSHG OLNH WKH JULHVO\ PRXWK RI KHOO 7KURXJK ZKLFK LQWR KLV GDUNH DELVVH DOO UDXLQ IHOO ;,[LLf :H ZLOO UHFDOO WKDW 2UJRJOLR ZDV UHn VSRQVLEOH IRU 5HGFURVVHnV GHDWK DQG VXEVHTXHQW FRQILQHPHQW LQ KHOO WKH GXQJHRQ LQ 2UJRJOLRnV FDVWOHf 2UJRJOLRnV DVVRFLDWLRQ ZLWK HDUWKTXDNH LV DOVR SUHVHQW LQ WKH )LUH 'UDn JRQ ZKR LQ DQ LPDJH WKDW DOVR IXQFWLRQV RQ WKH VH[XDO OHYHO ZLWK KLV WDLO ZRXOG VFRXUJH WKH EX[RPH DLUH VR VRUH 7KDW WR KLV IRUFH WR \HHOGHQ LW ZDV IDLQH 1H RXJKW KLV VWXUGLH VWURNHV PLJKW VWDQG DIRUH 7KDW KLJK WUHHV RXHU WKUHZ DQG URFNV LQ SHHFHV WRUH [[[YLLf :H KDYH REVHUYHG WKDW 2UJRJOLR FDQ EH VHHQ DV WKH SKDOOLF SURWDJRQLVW DIWHU ZKRVH GHIHDW E\ $UWKXU 7KDW KXJH JUHDW ERG\ ZKLFK WKH *\DXQW ERUH :DV YDQLVKW TXLWH DQG RI WKH PRQVWURXV PDV :DV QRWKLQJ OHIW EXW OLNH DQ HPSWLH EODGGHU ZDV 9,,,[[LYf :H FDQ VHH WKHUHIRUH LQ WKH GLVPHPEHUPHQW RI WKH )LUH 'UDJRQnV IRRW DQG PRVW VLJQLILFDQWO\ RI DOO WKH WDLO D GHQLDO RI VH[XDOLW\ V\PEROL]HG E\ WKH PRWLI RI HPDVn FXODWLRQ WKH NQRWW\ VWULQJ 2I KLV KXJH WDLOH KH TXLWH D VXQGHU FOHIW )LXH LR\QWV WKHUHRI KH KHZG DQG EXW WKH

PAGE 290

VWXPS KLP OHIW [[[L[f ,Q D VHQVH WKH HQWLUH RSXV LV FRQWDLQHG LQ WKLV SDVVDJH ZKLFK EHJLQV ZLWK WKH IHPLQLQH SULQFLSOH DQG HQGV ZLWK WKH PDVFXOLQH WKXV IRUPLQJ WKH DOSKD DQG RPHJD WKDW LV LPSOLHG LQ WKH ILJXUH RI WKH XURER URV 2Q D IXUWKHU OHYHO WKH )LUH 'UDJRQ HPERGLHV ERWK WKH 6WRQH DV ZHOO DV WKH PHWDOV :H ZLOO UHFDOO WKDW $UWKXUnV GLDPRQG VKLHOG LV QRW PDGH RI VWHHOH QRU RI HQGXULQJ EUDV EXW LV RI RQH PDVVLH HQWLUH PRXOG +HZHQ RXW RI $GDPDQW URFNH 9,,U[[[LLLf %\ WKH VDPH WRNHQ WKH )LUH 'UDJRQnV ERG\ WKRXJK SODWHG ZLWK LURQ VWHHO DQG EUDVV LV OLNH WKH KDUGHVW URFN DV 5HGFURVVH GLVFRYHUV ZKHQ KH WULHV WR SLHUFH WKH EHDVW ZLWK KLV VZRUG %XW EDFN DJDLQH WKH VSDUNOLQJ VWHHOH UHFR\OG $QG OHIW QRW DQ\ PDUNH ZKHUH LW GLG OLJKW $V LI LQ $GDPDQW URFNH LW KDG EHHQ SLJKW ;,U[[L[f 7KLV LV H[DFWO\ KRZ $UWKXUnV VKLHOG LV GHVn FULEHG SRLQW RI VSHDUH LW QHXHU SHUFHQ FRXOG 1H GLQW RI GLUHIXOO VZRUG GLXLGH WKH VXEVWDQFH ZRXOG 9,,[[[LLLf ,Q DGGLWLRQ WR LWV KDUGQHVV $UWKXUnV VKLHOG UHVLVWV DOO FKDUPV DQG VSHOOV 1R PDJLFNH DUWV KHUHRI KDG DQ\ PLJKW 1RU EORXGLH ZRUGHV RI EROG (QFKDXQWHUV FDOO 9,,[[[Yf 3ULRU WR 5HGFURVVHnV EDSWLVP LQ WKH ZHOO RI OLIH QR RQH FRXOG RYHUFRPH WKH )LUH 'UDJRQ IRU LW KDG WKH VDPH SURSHUn WLHV DV $UWKXUnV VKLHOG )RU WLOO WKDW VWRZQG FRXOG QHXHU ZLJKW KLP KDUPH %\ VXEWLOW\ QRU VOLJKW QRU PLJKW QRU PLJKW\ FKDUPH [[[YLf $IWHU WKH EDSWLVP KRZHYHU 5HG

PAGE 291

FURVVHnV EULJKW GHDZEXUQLQJ EODGH SRVVHVVHV VHFUHW YLUn WXHV ZKLFK HQDEOH KLP WR EUHDN WKH HQFKDQWPHQW RI WKH 'UDn JRQnV SURWHFWLRQ (OVH QHXHU FRXOG WKH IRUFH RI IOHVKO\ DUPH 1H PROWHQ PHWWDO LQ KLV EORXG HPEUHZ [[[YLf 7KH SDVVDJH MXVW TXRWHG S DERYHf IURP WKH $XURUD &RQVXU JHQV FRQFHUQLQJ WKH 5HG 6HD LV DSSOLFDEOH KHUH WKLV JUHDW DQG ZLGH VHD VPRWH WKH URFN DQG WKH PHWDOOLF ZDWHUV IORZHG IRUWK 7R XQULGGOH WKH VWDWHPHQW ZH ZRXOG VD\ WKDW WKH VHD DV WKH ZHOO RI OLIH LV WKH 6WRQH IRU DV ZH KDYH VHHQ WKH GLDPRQG LV SXUHVW ZDWHU DQG VLQFH WKURXJK EDSn WLVP LQ WKH ZHOORU ZKDW ZH ZRXOG WHUP WKH FROOHFWLYH XQn FRQVFLRXV 5HGFURVVH KDV EHFRPH WKH ILOLXV SKLORVRSKRUXPf§ RU DV ZH FRXOG VD\ FRQVWHOODWHG WKH DUFKHW\SH RI WKH GLn YLQH 6HOIDQG KDV KLPVHOI EHFRPH WKH OLYLQJ 6WRQH ZH FDQ FRQFOXGH WKHUHIRUH WKDW 5HGFURVVH LV WKH VHD 7KH URFN WKDW WKH VHD VPRWHV LV WKH 'UDJRQ ZKR DV WKH PHU FXULDO VHUSHQW SHUVRQLILHV WKH HQWLUH XQFRQVFLRXV ZKLFK FRQWDLQV WKH HOHPHQWV RI WKH DUFDQH VXEVWDQFH LQFOXGLQJ WKH 6WRQH LQ SRWHQWLDf§LH DV DQ XQFRQVWHOODWHG DUFKHW\SH 7KH PHWDOOLF ZDWHUV WKDW IORZ IURP WKH URFN DUH WKHUHIRUH WKH PROWHQ PHWWDO LPSOLHG LQ WKH EULJKW GHDZEXUQLQJ EODGH ZKLFK 5HGFURVVH HPEUHZV LH SOXQJHVf LQWR WKH 'UDJRQnV EORRG ,Q WKH VWUXJJOH EHWZHHQ 5HGFURVVH DQG WKH )LUH 'UDJRQ WKH 6WRQH LV EHLQJ XVHG WR FRQTXHU WKH 6WRQH WKH RQO\ GLIIHUHQFH EHLQJ LWV GHJUHH RI SHUIHFWLRQf 7KH UHDVRQ WKDW WKLV LV SRVVLEOH LV WKDW 5HGFURVVH E\ YLUWXH RI

PAGE 292

KLV EDSWLVP LQ WKH ZHOO RI OLIH LV OLNH WKH PRUH WKDQ SHUn IHFW H DQ DUFKHW\SH WKDW LV FRQVWHOODWHG PDGH IOHVKf UDWKHU WKDQ PHUHO\ LQ SRWHQWLD5HG (OL[LU ZKLFK DFFRUGLQJ WR %DFRQ FDQ SHUIHFW LPSHUIHFW ERG\HV PLQJOHG ZLWK LW E\ PHOWLQJ RQHO\ ,I WKLV SHUIHFWLRQ PLJKW EH PL[HG ZLWK WKH LPSHUIHFW WKH LPSHUIHFW VKRXOG QRW EH SHUIHFWHG ZLWK WKH SHUIHFW EXW UDWKHU WKHLU SHUIHFWLRQV VKRXOG EH GLPLQLVKHG E\ WKH LPSHUIHFW t EHFRPH LPSHUIHFW %XW LI WKH\ ZHUH PRUH WKHQ SHUIHFW HLWKHU LQ D WZRIROG IRXUHIROG KXQGUHGIROG RU ODUJHU SURSRUWLRQV PLJKW WKHQ ZHOO SHUIHFW WKH LPSHUIHFW 3HUIHFWLQJ WKH LPSHUIHFW LV H[DFWO\ ZKDW LV RFFXUULQJ IRU DV ZH KDYH VHHQ WKH SURMHFWLRQ RI WKH (OL[LU RQWR WKH 6WHHO KDV MXVW EHHQ DFFRPSOLVKHG DQG VLQFH WKH 'UDJRQnV EDFN DQG WDLO DUH RI EUDVV ZH FDQ FRQFOXGH WKDW WKH SURMHFWLRQ RI WKH (OL[LU RQWR WKH EUDVV LV V\PEROL]HG E\ WKH VHYHULQJ RI WKH 'UDJRQnV WDLO 7KH VXEMHFWLYH QDWXUH RI WKH SURFHVV LW VKRXOG EH SRLQWHG RXW LV LPSOLFLW LQ WKLV SDVVDJH RQ VHYHUDO OHYHOV ,Q DGGLWLRQ WR DPELJXRXV SURQRXQ UHIHUHQFH WKH LGHQWLW\ EHWZHHQ 5HGFURVVH DQG WKH 'UDJRQ LV DW WLPHV VHW IRUWK TXLWH FOHDUO\ 7KURXJKRXW WKH VWUXJJOH WKH 'UDJRQ LV VR HQUDJHG 7KDW ORXG KH \HOGHG IRU H[FHHGLQJ SDLQH $V KXQGUHG UDPSLQJ /\RQV VHHPnG WR URUH[[[YLLf WKLV LV WKH DJRQ\ ZKLFK 5HGFURVVH KLPVHOI HQGXUHG LQ WKH +RXVH RI +ROLn QHVV ZKHQ KH ZDV VXIIHULQJ IURP 'HVSDLU KLV WRUPHQW RIWHQ ZDV VR JUHDW 7KDW OLNH D /\RQ KH ZRXOG FU\ DQG URUH $QG UHQG KLV IOHVK DQG KLV RZQH V\QHZHV HDW ;W[[YLLLf 7KH RQO\ GLIIHUHQFH LV RI FRXUVH WKDW 5HGFURVVHnV GLVHDVH ZDV

PAGE 293

PLQLVWHUHG WR E\ 3DWLHQFH ZKHUHDV WKH 'UDJRQ 1H PLJKW KLV UDQFNOLQJ SDLQH ZLWK SDWLHQFH EH DSSHDVG [[[YLLLf ,Q 7KH 9LVLRQV RI =RVLPRV DQ HPLQHQW *UDHFR(J\SWLDQ DOFKHPLVW RI DERXW WKH WKLUG FHQWXU\ $ WKH DGHSWnV VLWXDWLRQ DV ERWK WRUPHQWRU DQG WRUPHQWHG LV VHW IRUWK VR PHPRUDEO\ WKDW LW FDQ VHUYH DV D JORVV RQ WKH QDWXUH RI 5HGFURVVHnV DJRQ\ 7KH SULHVW ,RQ LV D PDQ RI FRSSHU ZKR LV LQ WKH SURFHVV RI WUDQVIRUPLQJ KLPVHOI LQWR D PDQ RI JROG WKH $QG KDYLQJ KHDUG WKH YRLFH RI KLP ZKR VWRRG RQ ERZOVKDSHG DOWDU TXHVWLRQHG KLP ZLVKLQJ WR ILQG RXW ZKR KH ZDV +H DQVZHUHG PH LQ D ZHDN YRLFH n, DP ,RQ WKH SULHVW RI WKH VDQFWXDU\ DQG YLYHG LQWROHUDEOH YLROHQFH )RU VD\LQJ KDYH VXU RQH FDPH KHDGORQJ LQ WKH PRUQLQJ GLVPHPEHULQJ PH ZLWK D VZRUG DQG WHDULQJ PH DVXQGHU DFFRUGLQJ WR WKH ULJRXU RI KDUPRQ\ $QG IOD\LQJ P\ KHDG ZLWK WKH VZRUG ZKLFK KH KHOG IDVW KH PLQJOHG P\ ERQHV ZLWK P\ IOHVK DQG EXUQHG WKHP LQ WKH ILUH RI WKH WUHDWPHQW XQWLO OHDUQW E\ WKH WUDQVIRUn PDWLRQ RI WKH ERG\ WR EHFRPH D VSLULWn $QG ZKLOH \HW KH VSRNH WKHVH ZRUGV WR PH DQG KLP WR VRHDN RI LW KLV H\HV EHFDPH DV EORRG KLV IOHVK $QG VSHDN DQG KH YRPLWHG XS DOO PXWLODWHG OLWWOH LPDJH RI D PDQ KLV RZQ WHHWK DQG IDOOLQJ DZD\ VDZ KLP DV D KLPVHOI ZLWK :H FDQ VHH WKDW =RVLPRVn ,RQ LV VLPXOWDQHRXVO\ WKH HTXLYDOHQW RI ERWK 5HGFURVVH DQG WKH 'UDJRQ 7KH KHDWH ZKHUHRI DQG KDUPIXOO SHVWLOHQFH 6R VRUH KLP QR\G WKDW IRUVW KLP WR UHWLUH $ OLWWOH EDFNZDUG IRU KLV EHVW GHIHQFH 7R VDXH KLV ERGLH IURP WKH VFRUFKLQJ ILUH :KLFK KH IURP KHOOLVK HQIUDLOHV GLG H[SLUH ,W FKDXQVW HWHUQDOO *RG WKDW FKDXQFH GLG JXLGHf $V KH UHFR\OHG EDFNZDUG LQ WKH PLUH +LV QLJK IRUZHDULHG IHHEOH IHHW GLG VOLGH $QG GRZQH KH IHOO ZLWK GUHDG RI VDPH VRUH WHUULILGH 7KHUH JUHZ D JRRGO\ WUHH KLP IDLUH EHVLGH /RDGHQ ZLWK IUXLW DQG DSSOHV URVLH UHG $V WKH\ LQ SXUH YHUPLOLRQ KDG EHHQH GLGH :KHUHRI JUHDW YHUWXHV RXHU DOO ZHUH UHG

PAGE 294

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f 7KLV LV D WUHPHQGRXVO\ H[FLWLQJ PRPHQW :KHQ ZKDW =RVLPRV WHUPV 7KH ILUH RI WKH WUHDWPHQW EHFRPHV VR LQWHQVH WKDW LW DV EXUQLQJ $HWQD IURP KLV ER\OLQJ VWHZ 'RWK EHOFK RXW IODPHV DQG URFNHV LQ SHHFHV EURNH $QG UDJJHG ULEV RI PRXQ WDLQHV PROWHQ QHZ [OLYf WKH (OL[LU LV SURMHFWHG RQWR WKH DUFDQH VXEVWDQFH DQG WKH EUDVV LV WUDQVPXWHG WR JROG 7KH VFRUFKLQJ ILUH IRUFHV 5HGFURVVH WR UHFR\OH EDFNZDUG LQWR WKH FKLOGKRRG RI PDQNLQG LQWR HWHUQLW\ IRU DV WKH HPHUJLQJ VHFRQG $GDP 5HGFURVVH KDYLQJ EDWKHG LQ WKH ZHOO RI OLIH KDV UHHQWHUHG PDQNLQGnV ORVW KRPH +H KDV VXUYLYHG WKH

PAGE 295

SHULORXV LQZDUG MRXUQH\ DQG LV QRZ LQ WKH *DUGHQ RI (GHQ EHVLGH WKDW YHU\ WUHH RI OLIH WKDW ZDV WKH FULPH RI RXU ILUVW IDWKHUV IDOO XQOLNH WKH ILUVW $GDP ZKR IHOO DZD\ IURP EOLVV 5HGFURVVH KDV IDOOHQ WRZDUG LW WRZDUG WKH GLn YLQH FHQWHU RI WKH XQLYHUVH DQG ZLWK GL]]\LQJ VSHHG 3DUDGR[LFDOO\ WKH WUHH RI OLIH ZKRVH IUXLW DV 0LOWRQ VD\V %URXJKW 'HDWK LQWR WKH :RUOG DQG DOO RXU ZRH ,, ,6 DOVR WKH SKLORVRSKLFDO WUHH DQG WKH NQRZOHGJH RI JRRG DQG HYLO ZKLFK SUHFLSLWDWHG WKH IDOO IURP LQQRFHQFH KDV LQ 5HGFURVVHnV FDVH EHHQ UHDSSOLHG WKURXJK WKH ZLVGRP RI WKH SKLORVRSKHUV LQ WKH GLUHFWLRQ RI QDUURZLQJ UDWKHU WKDQ ZLGHQLQJ WKH VHSDUDWLRQ EHWZHHQ WKH VHYHUHG KDOYHV RI WKH b SV\FKH DQG WKXV XOWLPDWHO\ DV WKH 8QLYHUVDO 0HGLFLQH WR WKH KHDOLQJ RI WKH EUHHFK WKHUHE\ DFKLHYLQJ UHGHPSWLRQ DQG UHVWRUDWLRQ RI ORVW LQQRFHQFH -XVW DV WKH IHZ GURSV RI OLTXRU SXUH RU :KLWH (OL[LU ZKLFK DV ZH KDYH VHHQ LV V\QRQ\PRXV ZLWK WKH 6WRQH ZDV RI ZRQGURXV ZRUWK DQG YHU WXH H[FHOOHQW 7KDW DQ\ ZRXOG FRXOG KHDOH LQFRQWLQHQW ,; [L[f VR WKH 5HG (OL[LU WKH %DOPH PRVW VRXHUDLQH ,, DV WKH WUHDVXUH KDUGHVW WR REWDLQ KDV VLPLODU EXW PRUH VXEOLPH ,, /LIH DQG ORQJ KHDOWK WKDW JUDWLRXV RLQWPHQW JDXH $QG GHDGO\ ZRXQG FRXOG KHDOH ,, 6LQFH WKH GHDGO\ ZRXQG LV QRQH RWKHU WKDQ PRUWDOLW\ LWVHOI WKH %DOPH UHSUHn VHQWV WKH DWWDLQPHQW RI WKH PRUH WKDQ SHUIHFW WKDW ZKLFK WUDQVFHQGV HYHQ WKH DFKLHYHPHQW RI 6HOIKRRG DQG SRLQWV WRn ZDUG WKH XOWLPDWH SHUIHFWLRQ XQLW\ ZLWK *RG

PAGE 296

:KHQ JHQWOH 9QD VDZ WKH VHFRQG IDOO 2I KHU GHDUH NQLJKW ZKR ZHDULH RI ORQJ ILJKW $QG IDLQW WKURXJK ORVVH RI EORXG PRXn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nHQFRXQWULQJ ILHUFH DV KDXNH LQ IOLJKW 3HUIRUFH UHEXWWHG EDFNH 7KH ZHDSRQ EULJKW 7DNLQJ DGXDQWDJH RI KLV RSHQ LDZ 5DQ WKURXJK KLV PRXWK ZLWK VR LPSRUWXQH PLJKW 7KDW GHHSH HPSHUVW KLV GDUNVRPH KDOORZ PDZ $QG EDFN UHW\UG KLV OLIH EORXG IRUWK ZLWK DOO GLG GUDZ 6R GRZQH KH IHOO DQG IRUWK KLV OLIH GLG EUHDWK 7KDW YDQLVKW LQWR VPRNH DQG FORXGHV VZLIW 6R GRZQH KH IHOO WKDW WKnHDUWK KLP YQGHUQHDWK 'LG JURQH DV IHHEOH VR JUHDW ORDG WR OLIH 6R GRZQH KH IHOO DV DQ KXJH URFNLH FOLIW :KRVH IDOVH IRXQGDWLRQ ZDXHV KDXH ZDVKW DZD\ :LWK GUHDGIXOO SR\VH LV IURP WKH PD\QHODQG ULIW $QG UROOLQJ GRZQH JUHDW 1HSWXQH GRWK GLVPD\ 6R GRZQH KH IHOO DQG OLNH DQ KHDSHG PRXQWDLQH OD\ OLYf

PAGE 297

L 7KH FRORUV DVVRFLDWHG ZLWK WKH 'UDJRQf§ZKR LV %HVSRWWHG DV ZLWK VKLHOGV RI UHG DQG EODFNH [Lff§DUH QRZ OLQNHG ZLWK 8QD ZKR VWDQGV E\ 5HGFURVVH WR ZDWFK WKH QR\RXV QLJKW DQG ZDLW IRU LR\RXV GD\ IRU DW WKLV SRLQW LQ WKH RSXV WKH EODFN ZKLFK LV DVVRFLDWHG ZLWK QLJKW DQG XQFRQVFLRXVQHVV ZLOO EH WUDQVIRUPHG LQWR WKH UHG WKDW EHWRNHQV WKH JUHDW GDZQn LQJ RI WKH HQOLJKWHQPHQW WKDW IROORZV IXOO FRQVFLRXVQHVV $FFRUGLQJO\ LQ WKH LPDJH RI IDLUH $XURUD ZLWK KHU URVLH FKHHNHV IRU VKDPH DV EOXVKLQJ UHG ZH ILQG WKH 5XEHGR RU UHGGHQLQJ ZKLFK VLJQDOV WKH HQG RI WKH :RUN 8QD LV QRZ WKH $QLPD DVVRFLDWHG ZLWK WKH 5XEHGR ZKLFK LQ FRQQHFWLRQ ZLWK WKH DXURUD V\PERO LV DV 0LVV YRQ )UDQ] SRLQWV RXW WKLV nIHPLQLQHn OLJKW RI WKH XQFRQVFLRXV EULQJLQJ LOOXPLn QDWLRQ JQRVLV RU WKH UHDOL]DWLRQ RI WKH VHOI ZKRVH HPLVVDU\ VKH LVA (YHQ WKH DSSOHV URVLH UHG $V WKH\ LQ SXUH YHUPLOLRQ KDG EHHQ GLGH [OYLf ZKLFK KDQJ RQ WKH WUHH RI OLIH LPSO\ LQ WKLV FRQWH[Wf WKH 5XEHGR ZKLFK DFFRUGLQJ WR WKH 7XUED 3KLORVRSKRUXP WDNHV XV EDFN WR WKH WLPH RI *HQHVLV ZKHQ WKLV FRPSRXQG LV FKDQJHG LQWR D UHG VSLULWXDO EUHDWK WKHQ DULVHV WKH EHJLQQLQJ RI WKH ZRUOG ,W LV VLJQLILFDQW WKDW WKH ILQDO GHIHDW RI WKH 'UDJRQ RFFXUV ZKHQ 5HGFURVVH GHHSH HPSHUVW KLV GDUNVRPH KROORZ PDZ 6LQFH ZKDW LV ZRQGURXV DERXW WKH 'UDJRQnV PRXWK LV WKDW LQ HLWKHU LDZ 7KUHH UDQFNHV RI \URQ WHHWK HQUDXQ JHG ZHUH [LLLf LW LV DSSDUHQW WKDW 5HGFURVVHnV DFWLRQ UHSUHVHQWV WKH SURMHFWLRQ RI WKH (OL[LU RQWR WKH LURQ ZKLFK LV WKH ODVW RI WKH WKUHH LPSHUIHFW PHWDOV WR EH WUDQVPXWHG

PAGE 298

LQWR JROG 2Q DQRWKHU OHYHO VLQFH WKH 'UDJRQnV GHHSH GH XRXULQJ LDZHV :LGH JDSHG OLNH WKH JULHVO\ PRXWK RI KHOO [LLf WKH DFWLRQ UHSUHVHQWV WKH VDPH KDUURZLQJ RI KHOO WKDW RFFXUUHG ZKHQ 3ULQFH $UWKXU UHOHDVHG 5HGFURVVH IURP FRQILQHn PHQW LQ WKH GXQJHRQ LQ 2UJRJOLRnV FDVWOH :H KDYH VHHQ WKDW WKH RSHUDWLRQ RI 6RO ZKLFK LV VHW IRUWK LQ WKH (PHUDOG 7DEOH TXRWHG S DERYHf LQYROYHV SV\FKRORJLFDOO\ WKH UDLVLQJ WR IXOO FRQVFLRXVQHVV RI DOO IRXU RI WKH IXQFWLRQV E\ ZKLFK WKH FRQVFLRXV PLQG RULHQWV LWVHOI ,W KDV EHHQ SRLQWHG RXW WKDW WKH WKUHH SDUWV RI WKH ZLVGRP RI WKH ZKROH ZRUOG ZKLFK DUH KHOG E\ +HUPHV 7ULVPHJLVWXV DUH WKH WKUHH QRQGRPLQDQW IXQFWLRQV RI ZKLFKLQ WKH RUGLQDU\ XQSHUIHFn WHG LQGLYLGXDOf§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nV PRXWK ZKLFK DSSURSULDWHO\ LV DVVRFLDWHG ZLWK KHOO LWVHOI ,Q WKH LPDJH RI WKH 'UDJRQ IDOOLQJ LQWR WKH VHD ZLWK WKH IRXU

PAGE 299

IROG UHSHWLWLRQ RI VR GRZQH KH IHOO WKH LPSHUIHFWLRQ WKDW KDG SUHYLRXVO\ EHHQ DVVRFLDWHG ZLWK WKH IRXU IXQFWLRQV LV V\PEROL]HG DV IDOOLQJ DZD\ OLNH D JUHDW PRXQWDLQ DQG GLVn DSSHDULQJ LQWR WKH XQFRQVFLRXV ZKLOH ZKDW UHPDLQV EHKLQG LV 5HGFURVVH QRZ IXOO\ SHUIHFWHG DQG VKLQLQJ OLNH WKH VXQ &$172 ;,, 6 XPPD U\ $W WKH VLJQ WKDW 3KRHEXV LQ WKH JORRPLQJ (DVW KDV ILQDOO\ KDUQHVVHG KLV ILULHIRRWHG WHHPH DQG UHDUG DERXH WKH HDUWK KLV IODPLQJ FUHDVW WKH JDWHV RI WKH &DVWOH RI 8QDn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

PAGE 300

LQ GXQJHRQ GHHSH 7KH EHWURWKDO WR 8QD LV FHOHEUDWHG DQG D VRXQG /LNH DV LW KDG EHHQ PDQ\ DQ $QJHOV YRLFH 6LQJLQJ EHIRUH WKnHWHUQDO PDLHVW\ LV KHDUG LQ WKH 3DOODFH DV 5HG FURVVH UHWXUQV WR VHUYH WKH )DHULH 4XHHQH WKXV OHDYLQJ 8QD WR PRXUQ XQWLO KLV UHWXUQ VL[ \HDUV KHQFH $QDO\VLV DQG &RPPHQWDU\ ([FHSW IRU WKH FHOHEUDWLRQ RI WKH KHDYHQO\ EHWURWKDO WKH RSXV DOFK\PLFXPf§ZKLFK LQ GHIHDW RI ERWK WKH ZLQJOHVV DQG ZLQJHG GUDJRQV XQLWHV ZKDW LV EHORZ ZLWK ZKDW LV DERYH DQG YLFH YHUVDKDV WKXV EHHQ EURXJKW WR D VXFFHVVIXO FRQn FOXVLRQ 6LQFH ZH DUH QRZ LQ D SRVLWLRQ WR DSSUHFLDWH WKH H[WHQW WR ZKLFK WKH RUJDQL]LQJ SULQFLSOH RI %RRN RI 7KH )DHULH 4XHHQH PD\ EH UHJDUGHG DV LPSOLFLW LQ SDWWHUQV DVVR FLDWHG ZLWK WKH SURFHVV RI DOFKHPLFDO WUDQVIRUPDWLRQ LW PLJKW EH XVHIXO E\ ZD\ RI VXPPDU\ WR UHFDSLWXODWH WKH VHTXHQFH RI SURFHGXUHV WR ZKLFK YLUWXDOO\ DOO DOFKHPLFDO DOOHJRU\ FDQ EH UHGXFHG %HDULQJ LQ PLQG WKDW GHWDLOV ZLOO YDU\ DFFRUGLQJ WR WKH DXWKRUnV LQGLYLGXDO HPSKDVLV WKH EDVLF SDWWHUQ LV YHU\ FOHDU -XQJ GHVFULEHV LW WKXV 7KH QLJUHGR RU EODFNQHVV LV WKH LQLWLDO HLWKHU SUHVHQW IURP WKH EHJLQQLQJ DV VWDWH WKH SULPD PDWHULD SURGXFHG E\ WKH D TXDOLW\ RI WKH FKDRV RU PDVVD FRQIXVD RU HOVH GLYLVLR SXWUHIDFWLRf UDWHG FRQGLWLRQ VHSDUDWLRQ RI WKH VROXWLR VHSDUDWLR HOHPHQWV ,I WKH LV DVVXPHG DW WKH VWDUW DV VRPHWLPHV D XQLRQ RI RSSRVLWHV LV SHUIRUPHG XQGHU RI D XQLRQ RI PDOH DQG IHPDOH FDOOHG WKH IROORZHG KDSSHQV WKHQ WKH OLNHQHVV FRQLXJLXP PDWULPRQLXP FRQLXQFWLR FRLWXVf E\ WKH GHDWK RI WKH SURGXFW RI WKH XQLRQ IPRUWLILFDWLR FDOFLQDWLR SXWUHIDFWLRf DQG D FRUUHVSRQGLQJ QLJUHGR )URP WKLV WKH ZDVKLQJ DEOXWLR EDSWLVPDf WR WKH ZKLWHQLQJ DOEHGRf RU HOVH WKH VRXO

PAGE 301

DQLPDf UHOHDVHG DW WKH GHDWK LV UHXQLWHG ZLWK WKH GHDG ERG\ WKH DQG EULQJV FRORXUV PDQ\ WDLO FDXGD SDYRQLVf WKDW DERXW LWV UHVXUUHFWLRQ RU DJDLQ RPQHV FRORUHVf RU SHDFRFNnV WKH RQH ZKLWH FRORXU OHDG WR FRQWDLQV DOO FRORXUV PDLQ JRDO RI WKH SURFHVV LV WLQFWXUD DOED WHUUD DOED $W WKLV SRLQW WKH ILUVW QDPHO\ WKH DOEHGR DOEXV KLJKO\ SUL]HG E\ PDQ\ DOFKHPLVWV ,W LV WKH VLOYHU W DV LV HWF f LI LW ZHUH WKH XOWLPDWH JRDO ,W LV WKH VLOYHU RU PRRQ FRQGLWLRQ ZKLFK VWLOO KDV WR EH UDLVHG WR WKH 7KH DOEHGR WKH UXEHGR LV LV LW VXQ FRQGLWLRQ VR WR VSHDN WKH GD\EUHDN EXW QRW WLOO WUDQVLWLRQ WR WKH UXEHGR VXQULVH 7KH LV IRUPHG E\ WKH FLWULQLWDV WKRXJK WKLV 7KH UXEHGR WKHQ IROORZV GLUHFW IURP ZDV WKH RPLWWHG DOEHGR DV WKH UHVXOW RI WKH KHDW RI WKH ILUH WR LWV UDLVLQJ KLJKHVW LQWHQVLW\ 7KH UHG DQG WKH ZKLWH DUH .LQJ DQG 4XHHQH ZKR PD\ DOVR FHOHEUDWH WKHLU FK\PLFDO ZHGGLQJ DW WKLV VWDJH ,Q 7KH )DHULH 4XHHQH %RRN WKH HTXLYDOHQW RI WKH ILQDO FK\PLFDO ZHGGLQJ LV RI FRXUVH WKH KHDYHQO\ EHWURWKDO 7KHQ VDLG WKH UR\DOO 3HUH LQ VREHU ZLVH 'HDUH 6RQQH JUHDW EHHQH WKH HXLOV ZKLFK \H ERUH )URP ILUVW WR ODVW LQ \RXU ODWH HQWHUSULVH 7KDW QRWH ZKHWKHU SUD\VH RU SLWW\ PRUH )RU QHXHU OLXLQJ PDQ ZHHQH VR VRUH ,Q VHD RI GHDGO\ GDXQJHUV ZDV GLVWUHVW %XW VLQFH QRZ VDIH \H VHLVHG KDXH WKH VKRUH $QG ZHOO DUULXHG DUH KLJK *RG EH EOHVWf /HW YV GHXL]H RI HDVH DQG HXHUODVWLQJ UHVW $K GHDUHVW /RUG VDLG WKHQ WKDW GRXJKW\ NQLJKW 2I HDVH RU UHVW PD\ QRW \HW GHXL]H )RU E\ WKH IDLWK ZKLFK WR DUPHV KDXH SOLJKW ERXQGHG DP VWUHLJKW DIWHU WKLV HPSUL]H $V WKDW \RXU GDXJKWHU FDQ \H ZHOO DGXL]H %DFNH WR UHWXUQH WR WKDW JUHDW )DHULH 4XHHQH $QG KHU WR VHUXH VL[ \HDUHV LQ ZDUOLNH ZL]H *DLQVW WKDW SURXG 3D\QLP NLQJ WKDW ZRUNHV KHU WHHQH 7KHUHIRUH RXJKW FUDXH SDUGRQ WLOO WKHUH KDXH EHHQH 9QKDSSLH IDOOHV WKDW KDUG QHFHVVLWLH 4XRWK KHf WKH WURXEOHU RI P\ KDSSLH SHDFH $QG YRZHG IRH RI P\ IHOLFLWLH 1H DJDLQVW WKH VDPH FDQ LXVWO\ SUHDFH %XW VLQFH WKDW EDQG \H FDQQRW QRZ UHOHDVH 1RU GRHQ YQGR IRU YRZHV PD\ QRW EH YDLQHf 6RRQH DV WKH WHUPH RI WKRVH VL[ \HDUHV VKDOO FHDVH

PAGE 302

WKHQ VKDOO KLWKHU EDFNH UHWXUQH DJDLQH 7KH PDUULDJH WR DFFRPSOLVK YRZG EHWZL[W \RX WZDLQ :KLFK IRU P\ SDUW FRXHW WR SHUIRUPH ,Q VRUW DV WKURXJK WKH ZRUOG GLG SURFODPH 7KDW ZKR VR NLOG WKDW PRQVWHU PRVW GHIRUPH $QG KLP LQ KDUG\ EDWWDLOH RXHUFDPH 6KRXOG KDXH PLQH RQHO\ GDXJKWHU WR KLV 'DPH $QG RI P\ NLQJGRPH KHLUH DSSDUDXQW EHH 7KHUHIRUH VLQFH QRZ WR WKHH SHUWHLQHV WKH VDPH %\ GHZ GHVHUW RI QREOH FKHXDOUHH %RWK GDXJKWHU DQG HNH NLQJGRPH OR \LHOG WR [YLL[[f :LHQ DW WKH EHJLQQLQJ RI WKH RSXV WKH IHDUHIXOO 'ZDUIH UDWLRQDOLW\ZDUQHG 5HGFURVVH WKDW WKLV LV QR SODFH IRU OLXLQJ PHQ ,U[LLLf WKHUH ZDV WUXWK LQ ZKDW KH VDLG IRU OLIH LQ WKH .LQJGRP RI WKH DQFLHQW .LQJ DQG 4XHHQ ZKR DUH 8QDnV SDUHQWV LV ZKDW WKLV ZRUOG FDOOV GHDWK 7KH ORVW (GHQ GRHV H[LVW DW OHDVW DV D SV\FKRORJLFDO UHDOLW\ EXW WR UHn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

PAGE 303

IRU WKRXJK LW KDV EHHQ JLYHQ WR KLP WR NQRZ WKH P\VWHULHV RI WKH NLQJGRP RI KHDYHQ 0DWW f KH FDQQRW DFFHSW WKH ZHOOGHVHUYHG RIIHU RI HDVH DQG HXHUODVWLQJ UHVW MXVW DV ZLWK 8QDnV KHOS DQG WKRXJK DJUHHLQJ WKDW 6OHHSH DIWHU WR\OH SRUW DIWHU VWRUPLH VHDV (DVH DIWHU ZDUUH GHDWK DIWHU OLIH GRHV JUHDWO\ SOHDVH ,;[Of KH KDG UHIXVHG WKH VDPH RIIHU ZKHQ KH ZDV ILUVW LQ WKH 'HQ RI 'HVSDLUH IRU WR KDYH DWn WDLQHG WKH VWDWXV RI 6DLQW *HRUJH RI (QJODQG LPSOLHV DQ REn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n DWHO\ DOOXGHG WR LQ WKH VSHHFK RI WKH UR\DOO 3HUH 6RRQH DV WKH WHUPH RI WKRVH VL[ \HDUHV VKDOO FHDVH
PAGE 304

FLDWHG ZLWK RQH ZKR KDG MXVW DWWDLQHG WR WKH HOL[LU YLWDH DQG KDG WKXV EHHQ WUDQVIRUPHG LQWR D OLYLQJ SKLORVRSKLFDO VWRQH 6LQFH WKH QXPEHU LV QRW V\PEROLF ZH VKRXOG SHUn KDSV DVVXPH WKDW LW LV PHDQW WR EH XQGHUVWRRG OLWHUDOO\ 2I WKH YDULRXV KLVWRULFDO ILJXUHV ZKR KDYH EHHQ VXJJHVWHG DV WKH 5HGFURVVH .QLJKW WKH RQO\ RQH ZLWK DQ REYLRXV UHODWLRQVKLS WR WKH QXPEHU VL[ LV 6LU 3KLOLS 6LGQH\ $V ZH NQRZ IURP UHn IHUHQFHV WR WKH SRHP LQ WKH +DUYH\6SHQVHU FRUUHVSRQGHQFH WKHUH ZDV DW OHDVW D SUHOLPLQDU\ YHUVLRQ RI %RRN E\ :KDW PLJKW H[SODLQ WKH VLJQLILFDQFH RI 5HGFURVVHnV WHUP RI VL[ \HDUV LQ WKH ZRUOG LV WKDW LQ IRXU \HDUV EIHIRUH WKH SXEOLFDWLRQ RI WKH ILUVW WKUHH ERRNV RI 7KH )DHULH 4XHHQH 6LGQH\ GLHG RI ZRXQGV LQFXUUHG LQ WKH %DWWOH RI =XWSKHQ :HUH LW QRW IRU WKH RWKHU IDFWRUV WKDW OLQN 6LGQH\ ZLWK WKH OHJHQG RI 5HGFURVVH ZH VKRXOG EH MXVWLILHG LQ UHJDUGLQJ WKLV DV D PDWWHU RI FRLQFLGHQFH %XW DV 0LVV
PAGE 305

7KH )DHULH 4XHHQH LV DQ HOHJ\ IRU 6LU 3KLOLS 6LGQH\ LQ ZKLFK WKH WULEXWH LV WKH PRUH H[WUDRUGLQDULO\ GHOLFDWH EHFDXVH LW LV SULYDWH DQG EHFDXVH LW LV KLGGHQ IURP DOO H[FHSW WKRVH ZKR GUDZLQJ FORVH HQRXJK WR 8QD WR VHH KHU IDFH ZLOO EH DEOH WR XQGHUVWDQG ZK\ IRU DOO KHU VXQVKLQ\ QDWXUH VKH ZLOO JULHYH ZKHQ KHU NQLJKW LV FDOOHG WR VHUYH WKH RWKHU ZRUOG 7KHQ IRUWK KH FDOOHG WKDW KLV GDXJKWHU IDLUH 7KH IDLUHVW 9Qn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nV KLJKHVW DWWDLQPHQW RI ZLVGRP DQG LQVLJKW +HUH HYHQ WKH VLOYHU KDV EHHQ WUDQVPXWHG WR JROG 7KLV LV ZKDW

PAGE 306

WKH DOFKHPLVWV WHUP WKHLU VROLILFDWLR -XQJ GHVFULEHV LWV SV\FKRORJLFDO VLJQLILFDQFHHVSHFLDOO\ DV UHJDUGV WKH ZRUOG RI WKH WKLUG GLPHQVLRQf§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n TXLUHV D VSHFLDO ULWH LI LW LV WR EH XQLWHG ZLWK SUHn VHQWGD\ FRQVFLRXVQHVV ,W LV FOHDU WKHUHIRUH WKDW D OLJKWLQJ XS RI WKH XQFRQVFLRXV LV EHLQJ ZKLFK KDV IDU PRUH WKH FKDUDFWHU RI DQ LOOXPLQDWLR WKDQ RI UDWLRQDO HOXFLGDWLRQ 7KH VROLILFDWLR LV LQILQLWHO\ IDU UHPRYHG IURP WKH FRQVFLRXV PLQG 7KH VSHFLDO ULWH ZKLFK PDNHV SRVVLEOH 5HGFURVVHn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f DQG UHDGV D OHWWHU IURP KLV PLVWUHVV 7R WKHH PRVW PLJKW\ NLQJ RI (GHQ IDLUH +HU JUHHWLQJ VHQGV LQ WKHVH VDG OLQHV DGGUHVW 7KH ZRIXOO GDXJKWHU DQG IRUVDNHQ KHLUH 2I WKDW JUHDW (PSHURXU RI DOO WKH :HVW $QG ELGV WKHH EH DGXL]HG IRU WKH EHVW (UH WKRX WK\ GDXJKWHU OLQFN LQ KROG EDQG

PAGE 307

2I ZHGORFNH WR WKDW QHZ YQNQRZHQ JXHVW )RU KH DOUHDG\ SOLJKWHG KLV ULJKW KDQG 9QWR DQRWKHU ORXH DQG WR DQRWKHU ODQG 7R PH VDG PD\G RU UDWKHU ZLGRZ VDG +H ZDV DIILDXQFHG ORQJ WLPH EHIRUH $QG VDFUHG SOHGJHV KH ERWK JDXH DQG KDG )DOVH HUUDXQW NQLJKW LQIDPRXV DQG IRUVZRUH :LWQHVVH WKH EXUQLQJ $OWDUV ZKLFK KH VZRUH $QG JXLOWLH KHDXHQV RI KLV EROG SHULXU\ :KLFK WKRXJK KH KDWK SROOXWHG RIW RI \RUH
PAGE 308

IULHQG QRU IRH %HUHIW RI WKHLU IRUPHU DXWRQRP\ $UFKLPDJR DQG 'XHVVD PXVW QRZ EH FRQWHQW WR VHUYH WKH SXUSRVHV RI WKH JUHDWHU SV\FKH 'XULQJ WKH VXEVHTXHQW FHOHEUDWLRQ RI WKH KHDYHQO\ EHn WURWKDO 5HGFURVVH LV RYHUZKHOPHG E\ D VHQVH RI VZHHWQHVV DQG EHDXW\ ZKLFK UHVXOWV IURP WKH EDODQFHG SDLUV RI SV\FKLF RSSRVLWHVUHSUHVHQWHG E\ KLPVHOI DQG $UFKLPDJR RQ RQH KDQG DQG 8QD DQG 'XHVVD RQ WKH RWKHUZKLFK KDYH QRZ FRPH WRJHWKHU LQ D SHUIHFW DQG GLYLQH KDUPRQ\ GHHS ZLWKLQ WKH SV\FKH 'XULQJ WKH ZKLFK WKHUH ZDV DQ KHDXHQO\ QRLVH +HDUG VRXQG WKURXJK DOO WKH 3DOODFH SOHDVDQWO\ /LHN DV LW KDG EHQH PDQ\ DQ $QJHOV YRLFH 6LQJLQJ EHIRUH WKnHWHUQDOO PDLHVW\ ,Q WKHLU WULQDOO WULSOLFLWLHV RQ K\H
PAGE 309

IHVW LQ WKH RSXV DOFK\PLFXP LV DQ HQWLUHO\ QHZ FUHDWLRQ LW LV ZKDW -XQJ WHUPV D WLPHOHVV PDQ >ZKR@ FRUUHVSRQGV WR WKH RULJLQDO VSKHULFDO ELVH[XDO EHLQJ ZKR VWDQGV IRU WKH PXWXDO LQWHJUDWLRQ RI FRQVFLRXV DQG XQFRQVFLRXV 7KH WUHDVXUH KDUG WR REWDLQ KDV EHHQ ZRQ

PAGE 310

127(6 ‘n& -XQJ 7KH $UFKHW\SHV DQG WKH &ROOHFWLYH 8QFRQ VFLRXV &ROOHFWHG :RUNV RI & -XQJ 9RO ,; SW 1HZ
PAGE 311

(OLDV $VKPROH HGf 7KHDWUXP &KHPLFXP %ULWDQQLFXP 1HZ
PAGE 312

-XQJ ;, -XQJ ;,9 II -XQJ ;,, II -XQJ ;,, f 9DU LRUXP $SXOHLXV 7KH *ROGHQ $VV WUDQV : $GOLQJWRQ f UHY 6 *DVHOOH &DPEULGJH 0DVV f 3KLOLSS 0RUJHQVWHUQ WUDQV 7XUED 3KLORVRSKRUXP 'DV VW 'DV 6XFK YRQ GHU JOGHQHQ .XQVW :LHQQ f ,, A0RUJHQVWHUQ & J -XQJ $OFKHPLFDO 6WXGLHV &ROOHFWHG :RUNV RI & -XQJ 9RO ;,,, 1HZ
PAGE 313

-XQJ ,; I MXQJ ;,,, -XQJ ;,,, FI SODWH -XQJ ;,, M8QJ ;,9 -XQJ ;,, IQ O0RUJHQVWHUQ ,, 0RUJHQVWHUQ ,, QXJR 5DKQHU 0\VWHULXP /XQDH =HLWVFKULIW ILLU ;DWKROLVFKH 7KHRORJLH /;,,, f aa /;,9 f A0RUJHQV WHUQ ,, 0RUJHQVWHUQ ,, T U 6 0HDG 7KULFH *UHDW +HUPHV /RQGRQ f 7KHDWUXP &KHPLFXP 9 4XRWHG LQ -XQJ ;,,, rp-XQJ ,; A0RUJHQVWHUQ ,, MXQJ ;,9 -DFN /LQGVD\ 7KH 2ULJLQV RI $OFKHP\ LQ *UDHFR5RPDQ (J\SW 1HZ
PAGE 314

-XQJ ;9, A(ULFK 1HXPDQQ 0\VWLFDO 9LVLRQ LQ 7KH 0\VWLF 9LVLRQ HG -RVHSK &DPSEHOO 3DSHUV IURP WKH (UDQRV
PAGE 315

'H 9LJHQHUXV 'H LJQH HW VDOH 7KHDWUXP &KHPLFXP 9, TXRWHG LQ -XQJ ;,9 IQ -XQJ ;,9 A9DULRUXP A'H 6XOSKXUH TXRWHG LQ -XQJ ;,9 A$VKPROH S 6$VKPROH S -XQJ ;,,, A.DWKOHHQ :LOOLDPV 6SHQVHUnV :RUOG RI *ODVV %HUNHOH\ f S -XQJ ;,9 A-XOLXV 6 +HOG )ORUD *RGGHVV DQG &RXUWHVDQ (VVD\V LQ +RQRU RI (UZLQ 3DQRIVN\ 'H $UWLEXV 2SXVFXOD ;, 1HZ
PAGE 316

-XQJ ;,,, I -XQJ ;,, V /HZLV 7KH 6FUHZWDSH /HWWHUV 1HZ
PAGE 317

$TXLQDV 63 ;,9 f 7KH UHDOO\ FRPSHOOLQJ UHDVRQ KRZHYHU LV WKDW 0LOWRQ ZRXOG SUREDEO\ KDYH UHn JDUGHG 7KH )DHULH 4XHHQH DV DQ RFFXOW SRHP FDSDEOH RI WUDQVIRUPLQJ D VRXO -DPHV + +DQIRUG -RKQ 0LOWRQ 3RHW DQG +XPDQLVW &OHYHODQG f SS II7f SRLQWV RXW WKDW 0LOWRQn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f A-XQJ ;,9 (YDQV S OAA-XQJ ;,, -XQJ ;,, I (YDQV S 6W %DVLO TXRWHG E\ -XQJ ;,, 7UD&WDW8V $ULVWWHOHV 7KHDWUXP &KHPLFXP 9 TXRWHG LQ -XQJ ;,9 \DULRUXP I 6RORPRQ 7ULVPRVLQ 6SOHQGRU 6ROLV /RQGRQ QR GDWHf S DQG SODWH ;,,, -XQJ ;,9 -XQJ ;,9 \DULRUXP 9DULRUXP , 7ULVPRVLQ S A(YDQV S I

PAGE 318

$VKPROH S +HUEHUW 6LOEHUHU +LGGHQ 6\PEROLVP RI $OFKHP\ DQG WKH 2FFXOW $UWV 1HZ
PAGE 319

4XRWHG LQ -XQJ ;,, -XQJ ;,, -XQJ ;,, I n$VKPROH S -XQJ ;9, YRQ )UDQ] $XURUD S $QWH1LFHQH )DWKHUV %XIIDOR f 9,,, YRQ )UDQ] $XURUD 3 YRQ )UDQ] $XURUD 3 YRQ )UDQ] $XURUD 3 AfAYRQ )UDQ] $XURUD 3 YRQ )UDQ] $XURUD 3 -XQJ ;,9 A AYRQ )UDQ] $XURUD 3 r4XRWHG LQ YRQ )UDQ] U $XURUD FI : % 3LHQDDU $UWKXU 4XHHQH 03 ;;9, f 'LDPRQG 6KLHOG LQ 7KH )DHU LH 4XHHQH -XQJ ;,, nV 6KLHOG LQ WKH )DHULH DQG & $OOHQ nn$UWKXUn -(*3 ;;;9, f 2 r_ 0DUFHOOLQ %HUWKHORW HGf /D &KLPLH DX PR\HQ DJH 3DULV f S $VKPROH S 6S 5XGROI %HUQRXOOL 6SLULWX