Professional Documents
Culture Documents
*(/0-1/2,"2
34%&'25067-8'0"9&-:*"0",;/2%&
.'42<"7-=>?@-A'(B-CD@-E'B-F-584,B@-GHDI6@-99B-FFJKFLL
M4N(*0&"O-N$7-The Johns Hopkins University Press
.%/N("-PQ>7-http://www.jstor.org/stable/2872399
3<<"00"O7-GHRIHRFIGI-IF7SC
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at
http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless
you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you
may use content in the JSTOR archive only for your personal, non-commercial use.
Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at
http://www.jstor.org/action/showPublisher?publisherCode=jhup.
Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed
page of such transmission.
JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of
content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms
of scholarship. For more information about JSTOR, please contact support@jstor.org.
The Johns Hopkins University Press is collaborating with JSTOR to digitize, preserve and extend access to
ELH.
http://www.jstor.org
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`]J- *J- PU^HX-
Q-
4=CC@?F-0H- %?@<W- Z,79- $:?WJ-X[S[]J- >>H- \\M^aHK5?I7J- /A@8:;IJ->H-X[^Y- N-3<IG6:C:E=G@CCIJ-86=<-=;@E7-_:D-@- G6=CF-=A-@- DCL=F-7C7;7A8`=<-?7C@87F-8:- 867-7;O?I:-=A-867-9:;OJ-867-9:?CF-:D-867-LAO:?A-:D87A-O7=AE-86:LE68:D-@<- C=bL=Fc- @A86?:>:C:E=G@CCIJ-=8-=<-?7C@87F-8:- 867-=;@E7-:D-<77F<-:D-A79-C=D7-OL?=7F=A-@- F7@F-9:?CF-:D-<A:9-:?-<9@;>HNK)?=;;J->>H- PU\-DHY-NH- H- H-967A-=8- <A:9<J-<67-=<- ;@W=AE-67?-O7FJ-@AF- 867-D7@867?<:D-=8-DCIH-.67- <8=?<-L>-<A:9J-@<- !:A@?- F:7<-?@=AY- 867-)?77W<-@<G?=O7F-867->?:FLG8=:A:D-<A:9-@AF- ?@=A-8:- 867=?-+7L<- H- H- H- c- <:- 86@8-&:CF@- G:;7<- O7D:?7-L<- @<- @- E:FF7<<:D-A:-;7@A-?@AWHN@#=?G7@- "C=@F7J-0=87<-@AF- .I;O:C<-:D-*A=8=@8=:AY-%67-#I<87?=7<-:D-1=?86-@AF07O=?86J-8?@A<H-4=CC@?F-0H- %?@<W- Z,79- $:?WJ-X[S^]J- >>H- RS-DH\)7:?E7- "C=:8- ;@F7- @- C7AE86I-7A8?I-:A- ;7F=G@C- <L>7?<8=8=:A<-=A-67?-G:;;:A>C@G7O::W- ZA:9-=A-867-17=A7W7-0@?7- 1::W- @AF- #@AL<G?=>8-:D-$@C7]- =A-96=G6-867-@<8?:MC:E=G@C-G:AF=8=:A=AE-:D-67?O<-=<- F=<GL<<7FJ-@<- 97CC- @<- <L>7?<8=8=:A<-?7C@8=AE-8:- G6@?;<@AF-=AG@A8@8=:A<c-<77->>H-XQXMXQRH-
PPU-
N-.=C@<-#@?A7?-N!7;I86:C:E=d=AE-
2:<7>64=7<7AD@?86-
PP\-
C7E7AF@?I;@87?=@C@AF-<=8L@8=:AH@>>?:>?=@878:-<LG6-@-8=;7%:-
O7-@-;:F7?AA:B7C-@AF-8?L7-8:-)7:?E7-"C=:8K<-:9A-8=;7J-=8-;L<8F7>=G8-867-?7@C=8I-<67-O7C=7B7<-=AMN- 867-?7;7F=@C-=ADCL7AG7<:D>L?7-A@8L?@C-6L;@A-?7C@8=:A<HN-.=C@<-#@?A7?J;L<8->7?M867?7D:?7JD:?;867-F=DD=GLC88@<W-:D-L<=AE-=8<-C7E7AF-8:-7A6@AG7-=8<-?7@C=<;H5?:;-86=<->:=A8-:D-B=79J-867-@G8=:A-:D-.=C@<-#@?A7?-=<-O7<8-<77A@<-:A7-:D-F7;I86:C:E=d=AEY:D-F=B7<8=AE;7AJ-867=?-@G8=:A<J-@AF=A<8=8L8=:A<:D-;I86:C:E=G@C=A-@A-@887;>8:?-C7E7AF@?I@88?=OL87<8:-@>>?@=<7-867;-;:?7-@GGL?@87CIHXN/CC-86@8-=<-@<G?=O7F-8:-7V8?@M6L;@A-@E7AG=7<=<-7B7A8L@CCI<77A-8:-O7-G@L<7F-OI-6L;@A-@G8=:A<J@AF-@CC-86@8-=<-C7E7AF@?I=<-L<7F-8:-F7;:A<8?@876:9-6L;@A-e:I@AF-<:??:9;:?@C-D77C=AE<87;-D?:;@AF-6L;@A-@G8=:AH%67-<:L?G7-:D-6L;@A-@G8=:A-=A-.=C@<-#@?A7?-=<-G6@?@G87?J@AFG6@?@G87?=<-O@<=G@CCI-F7B7C:>7F-OI-F=<>:<=8=:AH-%67-:ACI->7?<:A96:-G6@AE7<-<=EA=D=G@A8CI=A-867-A:B7C-=<-.=C@<-6=;<7CDH-5?:;8?L<8=AE@AF-C:B=AE-67-O7G:;7<-;=<7?CIc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c@AF-<67-9?:87-=8-=A->?:<7J-<67-@FF7FJ-O7G@L<7-N-=A->:78?I-867?7Q- /AF-6L;:?JG:LCF-O7-A:-7b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hh- ZX[USMUU]J-U[M^RH5=G8=:AJT7A8L?IXQ(7887?<J*&*J-Q^PHH-
[PP^-
N-.C@<- #@?A7?!7;I86:C:E=d=AENK-
XR- TG-
D=?;-1C@GW9::FK<- ?7@G8=:A-@AF- >?@=<7- 867- 6L;:?-:D- .=C@<- #@?A7?c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
2:<7>6J4=7<7AD@?8/-
PP[-
<@8=?=G-F?@;@M86@8-=8-=<-B@8j:B:M@-?>@I:^@J- K8?@E7FI-=A-867-F=<MEL=<7-:D-;=?86HK/N-
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e:=A<E=?Cc7B7?-@D87?H-*A-/F@;-17F=7J867;c867IC=B7-6@>>=CI"C=:8)7:?E7N,:- E7A8C7;@AJ:L8-:D-@-O@CC@FJ-G:LCF-;@??I9?:87J<@-D@?;7?K<A=7G7HNPa-*A-.=C@<-#@?A7?J):FD?7IT@<<J-@-<bL=?7K<<:AJ-F:7<-=AD@G8-;@??I@- O@?;@=FH-%67-?7<LC8=<-6=<-;:?@C#:CCI-5@??7AJOC@GW;@=C@AF-#:CCIK<-F7@86F7G@I-@<-867-:Oe7G8-:D-6=<-O?:867?K<F?=AW86?:LE6@AF-:>=L;H-(@87?J-67-8?=7<-8:-8@W7-">>=7J-6=<G6=CF-OI-#:CCIJ-D?:;@-6L;OC7C=D7-9=86-.=C@<-@AF-/@?:A-8:-@:A7-9=86<>C7AF=F,@AGI-@AF-6=;<7CDH1L8-">>=7-?7DL<7<8:-O7F7AG7J-@AF-<67-G:AD=?;<=8- OI-?7DL<=AE8:-@F:>8-@- G6=CF-Z<77- G6H- X\]H- 5L?867?J):FD?7IK<=??7<>:A<=O=C=8I>?7B7A8<67?-D?:;:D-6=<-F@LE687?HO7=AE-867-;:867?X^- %67- 4:?W<-:D-)7:?E7-"C=:8Y- .=C@<- #@?A7?J-%67- (=D87F-f7=CJ-1?:867?2@G:OZ"F=AOL?E6JX^\[]J->H-P\QH[[N#7A@AF7?-@AF-)?77W-T:;7FIJN-%67-(7@F7?J-f*- ZX^SS]J-S\[HPa- %67-4:?W<:D-)7:?E7-"C=:8Y-/F@;-17F7- Z"F=AOL?E6JAH-FH]J->H-PaUH-
PQa-
N-.=C@<-#@?A7?N!7;I86:C:E=d=AE-
2:<7>64=7<7AD@?86-
PQX-
PQP-
NN-.=C@<-#@?A7?!7;I86:C:E=d=AE-
D@=?I8@C7<M=AG=F7A8<=A->@?@CC7C-<7?=7<-86@8-@?7-@C87?A@87CI<@F@AF-e:I:L<H-*A-(@A87?A-$@?FJ-.=C@<-O7G:;7<-867-B=G8=;-:D-@8:-6=;H-!@A7-O7C=7B7<<G67;=AE;@AJ-96:-9@<-C=W7-@-O?:867?6=;<7CD8:-<@CB@8=:A@AF-867?7D:?7D?77-8:-F:-7B=Cc>?7F7<8=A7F:
A-.=C@<H-*A<:-67-<87@C<-;:A7I-@AF-D=V7<867-OC@;70@B7C:7JO7G:;7<867-B=G8=;):FD?7I:D-@A-=??7<>:A<=OC76=<-O?:867?;@AJ@-;=A=:A:D-CLGWc-<:-67-7VM6=;<7CD!LA<8@AH-!LA<8@A-O7C=7B7<8:?8<-l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c-D=AF=AE867-;:A7I!LA<8@A-<8:C7<@B7<-.=C@<-@<-67-E?:9<:CFH-*A-(@A87?A$@?FJ-.=C@<-C:<7<-@CC-96=C7@-G@8@C7>8=G<7=dL?7@CC:9<!@A7-8:-?:O867-;=A=<87?H*A-0@B7C:7J-67-E@=A<-@CC-=A-867-G@8@C7>8=G<7=dL?786@8-@CC:9<-">>=7-8:-G?@9C-=A8:-6=<-6:L<7H-46@8-.=C@<-C:<7<-=A-
:A7-4@=D-Z!@A7K<-A@;7-=A-867-;@AL<G?=>8]JPS- 67-E@=A<=A-@A:867?9@=DJ-">>=7H"B7A8<-=A-.=C@<K<-C=D7-F?=B7-6=;-D?:;-(@A87?A-$@?Fc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
>7:>C7-=A-0@B7C:786=AW-67-6@<-<8:C7A-=8-6=;<7CDc<77-G6H-^HP- *A-867-#.H- 4=CC=@;-!@A7- =<-A@;7F-4=CC=@;-4@=DJ-@AF-867-N4@=D-N<L>7?<7F7<N-4@W7-N- Z:OB=:L<CI;7@A8-8:-G:A8?@<89=86-.=C@<K<-G@8@C7><I]J-96=G6-=<-G?:<<7F-:L8c<77-N-#H-.H-.=C@<-#@?A7?JN1?=8=<6#L<7L;-/FF=8=:A@C#@AL<G?=>8QRJaPUJ>>H-XS-DHP^- 5L?867?-<8?LG8L?@C>@?@CC7C<-@?7- =AF=G@87F-OI- 27?:;7-%6@C7J- %67- ,:B7C<- :D)7:?E7-"C=:8- Z,79-$:?WJ-X[S[]J->>H- US-DH- %6@C7K<-B=79-:D-.=C@<K<-@AF- ):FD?7IK<<8:?=7<-@AF-86L<-:D-867-A:B7C-E7A7?@CCI=<-F=DD7?7A8D?:;-;=A7J-6:97B7?H-&7- <77<@AF- ):FD?7IK<.=C@<K<-<8:?I-@<- D@=?IM8@C7@<- ?7@C=<8=GH-*A- .=C@<K<-<8:?IJ-867-8?L86-:D-
4=7<7AD@?862:<7>6-
PQQ-
>PQR-
!7;I86:C:b=d=AE-N-.=C@<- #@?A7?*-
PQS-
!LA<8@AJ-N7AG:L?@E7F-OI-G:AD=F7AG76:?<7J=A-6=<-CLGWJN-F7G=F7<8:-?=F7-=8-8:-867-6LA8-ZSP]H- 4=86-4=CFD=?7<8@W7F-@AF-!LA<8@ALA=Ae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eL<8-@<-!@A7- O?=AE<8:-C=D7-57L7?O@G6K<-;@A-7C7G87F-OI-3?:B=F7AG7H-*D-!LA<8@A-O7MC=7B7<-86@8-867-97@867?9=CC-O7-E::F-D:?-6=;-OL8-O@F-D:?-):FD?7IJ67-:OB=:L<CIG:A<=F7?<6=;<7CDA:-;@887?-96@8H-)?=;;D@B:?7FJ>L8<-=8-<LGG=AG8CIY-N-%67->7:>C7-O7C=7B7F-=A-@->?7F787?;=A=AE:DD@87<J-@<-867I-F=F-=A-867-G7?8@=A8I:D-F7@86HN-Q- %67-CLGWI-;@AJC=W7-867->?7F7<8=A7F:A7J-D7@?<-F:=AE-A:-7B=C-O7G@L<7-A:-7B=C-G@AG:;7-8:-6=;H-&7- O7C=7B7<-=A-T6@AG7c-67-GLC8=B@87<-A:-;:?@C67-@G8<-=??7<>:A<=OCIHQND77C=AEc&7-=<-O7I:AF-867-?7;7F=@C-7DD7G8:D-A@8L?@C-6L;@A-?7C@8=:A<H=A-T6@AG7J-!LA<8@A-?:O<-.=C@<c-@AF-8?L<8=AE%?L<8=AE=A-T6@AG7J?7DL<7<-8:-@GWA:9C7FE7-">>=7H- 1L8-867=?-;:;7A8<-:D):FD?7I=A-T6@AG7-@?7->?7G=<7CI8?L<886:<7-86@8-?7C7@<7-.=C@<-D?:;=8<-E?=>H17G@L<7-6=<-;:A7I-=<-8@W7A-D?:;-6=;J-6L;@A-D77C=AE-=<-<8=??7F=A-.=C@<M67- =<-N-;L<67FHN-17G@L<7-">>=7-G:;7<-8:-6=;J-867-<8=?H?=AE<-:D-D77C=AEOL?E7:A-=A8:-C:B7-@AF-?7<>:A<=O=C=8IH%67-;:?@C@AF-7;:8=:A@C-6@?FA7<<-86@8-7AG@<7F-.=C@<-D?:;-867-8=;7-86@8%7L8:A=G-#I86:C:EIJ**J- ^U[H^a*O=FHJ->H-^UaH5K-5:?-DL?867?G:;;7A8-:A-G6@AG7J-<77-!@B=F- 0H- T@??:CCJ-N.=C@<- #@?A7?Y- 07B7?<=AE867-'?@GC7<-:D-07C=E=:AJN-(=87?@?I-#:A:E?@>6<J-f:CH- XJ-7FH-"?=G- 0:86<87=A-@AF- %6:;@<lH- !LA<7@86- Z#@F=<:AJ- 4=<G:A<=AJ-X[U^]c- ;I-D=AF=AE<-@?7- =AF7>7AF7A8-:D-T@??:CCK<H.77- @C<:J- mH- !H- (7@B=<- :A- (LGW- =A- 867-A79- 37AEL=A- 7FH- :D-.=C@<- Z&@?;:AF<9:?86J#=FFC7<7VJ-X[U\]J- >>H- PS[-DH- &7?- <8@87;7A8-86@8- N-(LGW- =<- E::F- D:?8LA7-86@8- 6@<@C9@I<-8:-O7- F7<7?B7FN- G@AA:8-O7- G:;>C787CI-@GG7>87FH- !LA<8@A- =<- CLGWI-O7D:?7-67=<-LACLGWIc-.=C@<- LACLGWI-O7D:?7-CLGWIH- /C<:J-867-@88?=OL8=:A-:D-67?-A:8=:A-:D-(LGW- 8:%7L8:A=G-;I86:C:EI-G@AA:8-O7- <L<8@=A7F-967A-CLGW-@AF- F7<8=AI-@?7- C=AW7F-8:- O=?86J@<- 867I-@?7-OI- )?=;;H- ,7B7?867C7<<J-9=86-867<7- ?7<7?B@8=:A<J-67?-@A@CI<=<->?:B=F7<<:;7-B@CL@OC7- =A<=E68<-@AF- 7;>6@<=d7<-867-G:;7F=G-F=?7G8=:A-:D-.=C@<HP[-
PQU-
N-.=C@<-#@?A7?-N!7;I86:C:E=d=AE-
!@A7- O78?@I7F6=;-=<-G6=>>7F-@9@I-LA8=C-@- 6L;@A-O7=AE-=<?7B7@C7FH%6=<->?:G7<<:D-?7B7C@8=:A:A-867?7E=<87?<7B7?-<:-E?@FL@CCI0@B7C:7-;=AF-O7G@L<7-.=C@<-6@<-O77A-G:A<=F7?7FG:AA7G87F9=86.@8@A-D:?I7@?<Y-N-86=<-8?@F7:D-97@B=AEH-H-H-G:LCF-A:8-O7-G@??=7F:A-9=86:L8867-67C>-:D-867-"B=C-'A7N- ZQMR]H- %67-F7B=C-@<-@C7E7AF@?ID:?G7=A87?D7?=AE9=86@AF-G:A8?:CC=AE6L;@A-@G8=:A=<@<-:CF-@<-867-<8:?I:D-/F@;-@AF-"B7H- 2L<8-@<-T6@AG7-;L<8-O7@<-@- ;7@A=AEDLCD:?G7-=A-6L;@A-C=D7J-<:-;L<8F7;I86:C:E=d7F.@8@AH-%67->?:G7<<?7B7@C<"C=:8-F7B7C:><:AG7-@E@=A-6:9-)7:?E767?-867;7-OI-8?7@8=AE@- C7E7AF@?I<LOe7G8-?7@C=<8=G@CCIH.=C@<JD=?<8D7@?7F@<-F7;:A=@GJD=A@CCI=<-C:B7F-@<-6L;@Ac86=<->?:G7<<:D-0@B7C:7K<-G6@AE7:D-67@?8=<-O7<8-7V>?7<<7FOI-#?H-#@G7IJ-96:=<-6=;<7CD@-C7E7AF@?IG6@?@G87?H#?H-#@G7I-=<-0@B7C:7K<->?=B=C7E7FB=CC@E7?ZXSU]Y-67-=<-@-eLFE7:D-6=<-KO7887?<K-ZXS^]J-@-D:LA8:D-9=<F:;ZXPS]J-@-;@A-9:?86I:D<>7G=@C-A:8=G7-ZP\P]J-@AF-@A-N:?@GLC@?-:CF-E7A8C7;@AN-Z^[]HN-:?@GLC@?JNZ.=AG7-)7:?E7"C=:8-7;7AF7F67?8:-=A<7?8;@AL<G?=>8QP- #?H867-8=8C7<77;<7<>7G=@CCI9:?86I:D-?7;@?WH]#@G7I-=<-867B:=G7-:D-0@B7C:7H-&7- ?7;=AF<:A7-:D-867-;I86;@W7?96:;)7:?E7-"C=:8-;78-=A-'8D?=7F#LCC7?K<-3?:C:E7;7?@GQQ@AF-L<7F=A-67?-:9A-N-2@A78K<07>7A8@AG7NM867- ;@A-96:-7V>?7<<7<867G:A<7A<L<:D-867-G:;;LA=8I=A-6=<-<8:?=7<@AF-eLFE;7A8<Y867G-7ALAG=@8:?N- 867N-96::D-@AG=7A8;I86;@W7<@<<7;OC@E7F=<M8=AG8CIG:A<G=:L<:D-867-G:;;:A<7A8=;7A886@8-6@<-F?@9A-@CC-
QQ-T@?C- '8D?=7F#=CC7?J-3?:C7E:;7A@dL-G=A7?-
9=<<7A<G6@D8=G67A#I86:C:E=7-ZX^PS]HN- 4:?W<-:D-)7:?E7-"C=:8Y- .G7A7<-:D-TC7?=G@C-(=D7J-Z"F=AOL?E6JAH-FH]J-**J- [UH- %6=<=<-@->@?@>6?@<7:D-@-C:AE->@<<@E7-D?:;#LCC7?-96=G6-"C=:8-8?@A<C@87F=A-(7O7A-27<LH#LCC7?->?:B=F7F.8?@L<<-9=86-867-W7I-F7D=A=8=:A:D-;I86-86@8-7A@OC7F-6=;-8:->?:FLG76=<-;:AL;7A8@CB:CL;7H-.77- %67-(=D7-:D-27<L<J-<7GH-XRc->>H- ^aM^P-=A-867-7F=8=:AG=87F-=A-AH-^-@O:B7HQ- .7b- mH- !H- (7@B=<J->>H- PaMP^J-D:?-@A- 7VG7CC7A8F=<GL<<=:A-:D-TC=DDK<-<8:?I-=A?7C@8=:A-8:-.=C@<K<-C=D7H-
2:<7>64=7<7AD@?86-
PQ\-
8:-@<-=D-=8-6@F-O77A-@-D@B:?=878LA7J-@AF-@8-G7?8@=A>:=A8<-867>LDD=AE:D->=>7<-9@<-<L<>7AF7FJ86@8-867-C=<87A7?<;=E68E=B7-867=?96:C78:-867-7V>7G87F;=AF<8:-G:;7c9:?F<H-1L8-867?79@<-;:?7N- Z\\]H@AF-#?H-.A7CCJ867-C@AFC:?FJFLCI>L8-867-C7@F=AEbL7<8=:A#?H-#@G7IK<-B:=G7-=<-67?7-GC7@?CI67@?F-@<-867-<=AEC7B:=G7-86@8:?G67<8?@87<867-;@AIH'A7-:D-867-LAL<L@C8:-.=C@<-=<-6=<->?:A7A7<<8:86=AE<>7GLC=@?G@8@C7>8=G<7=dL?7<H467A-27;0:FA7I<77A-.=C@<?7>:?8<6@B=AE=A-867-G:L?<7:D-:A7M7I7<-<78-C=W7-@-F7@F-;@AK<JC=;O<<8=DDM#?HN-1L8-867?7#@G7I-=A87?>?78<Y;=E68O7-<LG6-@-86=AE@<-@-;@AK<<:LC-O7=AEC::<7-D?:;6=<-O:FIJ@AF-E:=AE:L8-@AF-=AJ-C=W7-@-O=?F:L8-:D-=8<-A7<8-@AF-O@GWc-@AF-86@8-9@<-6:9-D:CW<E:8-:B7?M9=<7JD:?867I97A88:-<G6::C=A-86=<-<67CCMC7<<<8@87-8:-86:<796:-G:LCF87@G6-867;;:?786@A-867=?G:LCF-C7@?AA7=E6O:L?<9=86D=B7867=?<7A<7<@AF-867->@?<:AN-Z[]H- *A-:867?9:?F<J.=C@<-=<-E:=AE-8:<G6::C-8:-'CF-&@??IJ-867-F7B=CH-.=C@<-=<-D?:;-867-,:?86J-@67-=<-@-97@B7?JA:8-@-D@?;7?c67-6@<-;:?7<8?@AE7?c86@A;:A7I;:<8c-67-WA:9<-<:;786=AE@O:L8-867-;7F=G=A@CB@CL7-:D-67?O<H*A-<6:?8J67-=<-@A-@C=7A-@AF-@->LddC7-8:-867-?L<8=G;=AFY-67-=<?7E@?F7F9=86-@- N-;=V8L?7:D-G:A87;>8L:L<>=8IJ-F?7@FJ-@AFN- ZUP]-H- %67-A:?;@C-9@I-D:?-0@B7C:7-8:-F7@C-9=86<L<>=G=:A96@8-=8-F:7<-A:8-LAF7?<8@AF=<-8:-@88?=OL87=8-8:-@A-:GGLC8@E7AGIH-N-467A-!:G8:?-l=;OC7-E@B7->6I<=GJ=8-9@<-A@8L?@C86@8=8-<6:LCF-6@B7-@A-7DD7G8cOL8-967A-@- 97@B7?J96:-G@;7-D?:;A:O:FI-WA79-967?7J9:?W7F9:AF7?<9=86-@- O:88C7-:D-O?:9A9@87?<J867-:GGLC8-G6@?@G87?:D-867->?:G7<<9@<-7B=F7A8N-ZPS]H%67?7D:?7.=C@<-=<->L8-=A8:-;7F=G@C-<G6::C-OI-#?H-#@G7IM@<G6::C967?7;7F=G@C'CF-&@??I=<->?=AG=>@CC7G8L?7?HA:?-67?O<-=<-@->LddC7J-@AF%:-867-A@??@8:?JA7=867?G@8@C7><I=A-867-,:?86A:-;I<87?Ic8:-867-A@??@8:?J96:-6@<-8:CF-:D97@B=AEN.=C@<K<-;=<7?C=A7<<=<-@C<:-GC7@?Y- %67-C=E68:D-6=<-D@=86C:B7-C:<8J;@F7-F7<:C@87JbL=87->L8-:L8J-@AF-6=<-@DD7G8=:A<67-6@F-GCLAE8:-6=<-9:?W@AF-6=<-;:A7IH9=86:D-6=<-A@8L?7@CC-867-D:?G7H@<-67-6LAE&=<-E:CFJ:B7?-=8-@AF-<@9-=8-E?:9JE@867?7F6=<->:97?:D-C:B=AEC=W7-=8<-:9A-N- ZUQ]H- #?H-#@G7I=A8:-@-6@?F-=<:C@8=:A=A-=EA:?@AG76@<-?7G:L?<78:-F7;:A=@G867-A@??@8:?>:97?<c=AWA:9C7FE78:-6L;@AG@L<@C=8IH467A-.=C@<-7;7?E7<C=W7-@- >6@A8:;D?:;867-<8:?;IA=E68@AF-;@87?=@C=d7<@8-867-0@=AO:9J#?H-#@G7I-<77<-6=;-@<-7B=F7AG786@8-E6:<8<F:-7V=<8YPQ^-
N-.=C@<-#@?A7?N!7;I86:C:E=d=AE-
%67- C:AE->=>7<-E@B7-@- <=;LC8@A7:L<-;:B7;7A8J-C=W7-867-@A87AA@7:D-<8@?8C7F-=A<7G8<J-@AF- 7B7?I-;@A->?7<7A8J-A:8-7VG7>8=AE-7B7A-8676@F-@A-=;>?7<<=:A86@8-67-<@9J-A:8-.=C@<-#@?A7?-=A<G7>8=G@C-D@??=7?J867-DC7<6JOL8-@A-@>>@?=8=:Ac-D:?-867-F::?-OI-96=G6-.=C@<-6@F-7A87?7F9@<-6=FF7A-OI-867-6=E6M<G?77A7F<7@8<J-@AF-A:-:A7-A:8=G7F-6=<-@>M>?:@G6H-#?H-#@G7IJ-<=88=AE-@-C:AE-9@I-:DD867-E6:<8J-;=E68-O7- <L>M96=G6-9:LCF-87AF-8:>:<7F-8:-6@B7-D7C8-@A-@?EL;7A8@8=B78?=L;>6JA7L8?@C=d7-6=<-<6@?7-:D-867-E7A7?@C-@C@?;H- &@F- 67-A:8-@C9@I<-<@=F86@8-967A-.=C@<-#@?A7?-9@<-=A-86@8-<8?@AE7-8?@AG7-:D-6=<J-6=<-<:LC97A8-C::<7-D?:;6=<-O:FIk- Z^Q]1L8- @D87?-867-D=?<8-<6:GWJ-.=C@<K<- 7A8?I-=A8:-867-G:;>@AI-:D-6=<A7=E6O:?<-?7DL87<-#?H-#@G7IK<- 867:?IH-*8- @CC:9<-.=C@<- 8:-O7-<77AD:?-867-D=?<8-8=;7-@<- @- 6L;@A- O7=AEH- "B7A- #?H- #@G7I- ?7G:AM<=F7?<-.=C@<K<- @<<:G=@8=:A- 9=86-'CF- &@??IY- N-K5:CW<- @<- 6@F- K867F7B=C-8:-O@GW-K7;-97?7-A:8-C=W7CI-8:-O7-<:-;L<67FK- @<->::?-.=C@<9@<-N- Z^U]H- *8-<77;<-8:-#@G7I- 86@8-867-F7B=C-6@<-8L?A7F-@E@=A<8.=C@<Y- N-6=<-F=<?7>L8@OC7-=A8=;@GI-=A-86@8-bL@?87?J-=D-=8-7B7?-7V=<87FJ6@F- O77A-O?:W7A-L>J-@AF- H- H- HJ- =A-G:A<7bL7AG7J-86=<-=CC-8L?A-6@FO77A-F:A7-8:-#@?A7?- OI-<:;7O:FI-=8-9@<- bL=87- =A-B@=A-8:- <78867-G:A<8@OC7-@D87?-N- Z^[]H- 467A-.=C@<-E?=7B7<-D:?-6=<-C:<8-EL=A7@<J867-:CF-;@A- <LEE7<8<-967?7-867I-@?7Y- N-K/IJ- @IJ- 867IK?7-E:A7967?7-=8K<-6:8-7A:LE6-8:-;7C8-K7;J-*- F:LO8JK-<@=F- #?H- #@G7I- NZ^^]H- %67- F=<G:B7?I-:D-867-8=AF7?MO:V-@CC:9<-#@G7I- @- D79-;:M;7A8<-:D-<W7>8=G@C-GIA=G=<;Y- N-#?H-#@G7I- H-H-H->::6M>::67F-8678=AF7?MO:Vc-=AF77FJ-?7>LF=@87F-=8-@<- @- ?@867?-=;>=:L<-<LEE7<8=:AJ87AF=AE-8:-=;>CI-86@8-7B7?I86=AE-;L<8-O7-F:A7-OI-6L;@A-6@AF<J@AF- 86@8-867?7-9@<-A:->:97?-96=G6-G:LCF-;@W7- @9@I- 9=86-867EL=A7@<-9=86:L8-;:B=AE-867-O?=GW<-N- Z[P]H#@G7IK<- >@?@F=E;-D:?-86=AW=AE-=<-GC7@?Y- =D-<:;786=AE-=<-;I<M87?=:L<J-867-F7B=C- =<- 867- @E7A8- O76=AF-867- ;I<87?IH-1L8- .=C@<=<-A:-C:AE7?-;I<87?=:L<-967A-67- @>>7@?<- N-;L<67F-Nc- 867?7D:?7J867-F7B=C-6@<- ?:OO7F-6=;-@AF-8L?A7F-6=;-=A8:-@- B=G8=;H- (@87?J967A-#?H- #@G7I- G:;7<-8:-WA:9-.=C@<- O7887?J-67-7V:A7?@87<-6=;DL?867?H-5=A@CCIJ-@8-867-7AF-:D-867-A:B7CJ-67-D:?E78<-G:;>C787CI@AF- G:AB7A=7A8CI-;LG6-:D-96@8-67- :AG7- 86:LE68-:D-.=C@<- @AF@GG7A8L@87<-:ACI-867->:<=8=B7Y- N-K-47CCJ-#@<87?- #@?A7?JK-67-<@=F=A- @- B:=G7- 86@8- bL@B7?7F- @- E::F- F7@CJ- K*KB7- C=B7F- 8:- <77- ;I9:?F<-G:;7-8?L7H-*-9@<-867-D=?<88:-<@I-867?7-9@<-A:-6@?;-=A-I:LJ86:LE6-I:L?-C::W<-;=E68-O7-@E@=AK- I:Lc- @AF- *- 9@<- 867-D=?<8-8:<@I- I:LKF- E78-I:L?-;:A7I-O@GWH- /AF- =8K<-A:86=AE-OL8-?=E68DLC@<-I:L-<6:LCF-KN- ZP\P]H- *A- 867-7AFJ-.=C@<- @<- B=G8=;-:D-!LA<8@A-
2:<7>64=7<7AD@?86-
PQ[-
N-.=C@<-#@?A7?N!7;I86:C:E=d=AE-
2:<7>64=7<7AD@?86-
PRX-
Q-
>H-SQH%67-"<<7AG7-:D-T6?=<8=@A=8IJ-
PRP-
NN.=C@<-#@?A7?!7;I86:C:E=d=AE-
<L?F=8IJN-9?:87-.>=A:d@-=A-867-%?@G8@8L<J-96=G6-)7:?E7-"C=:8-
G@A-:ACI-O7-@-9:?W-:D-A@8L?7J-96=G6-<L?>@<<7<J-:?-=<-O7C=7B7F-8:<L?>@<<J6L;@A-G:;>?767A<=:AHNQ[- ,:A7-:D867-;I<87?=:L<7B7A8<=A-.=C@<-?7;@=A<-=A-867-7AF-O7I:AF-867-G:;>?767A<=:A:D-867G@?7DLC-?7@F7?HRa%67-A:B7C-G:A8=AL@CCI<6:9<-6:9-86=AE<-6@B7O7G:;7-96@8-867I-@?7H-.=C@<-=<-?7B7@C7F-@<-867-B=G8=;-:D-@-O?:W7AD?=7AF<6=>J@- C:<8-C:B7J-@AF-@- ;=<8@W7A-8?L<8-=A-G6@AG7H- %67;=<7?CI-G@8@C7>8=G-=<-?7@CCI-867-C:A7CIJ-=A8?:B7?87F;@AJ-A:8-@.@8@A=G-D=EL?7H-T6@AG7-=<-?7B7@C7F-@<- 867-E:F-:D-=??7<>:A<=OC7>7:>C7J-96:-O7C=7B7-N-=A-@->?7F787?;=A=AE:D-D@87<-Nc-967?7@<J96@8<77;<-8:-6@>>7A-OI-G6@AG7M">>=7K<- G:;=AE-8:-.=C@<J-D:?-7VM@;>C7M=<- ?7B7@C7F-@<-867-=<<L7-:D-6L;@A-@G8=:A-@AF-867-:>>:?MD:?8LA=8I6L;@A-?7<>:A<=O=C=8IHRX/AF-867-T6?=<8M7B7A8:D-T6?=<M8=@A=8I-=<-<6:9A-8:-O7-867-G:;=AE-:D-C:B7H- *A-@FF=8=:AJ-<7C7G87FD@=?IM8@C7<8?LG8L?7<7AD:?G7867-=;>:?8@AG7:D-C:B7-@AF-?7<>:A<=MO=C=8I-@<-;@e:?-867;7<-=A-867-A:B7CH-%6?:LE6:L8-.=C@<-#@?A7?J867?7D:?7J)7:?E7-"C=:8->L8<-C7E7AF@?I;@87?=@C-@8-867-<7?B=G7-:D?7@C=<8=G@?8H-/AF-<:-867-A:B7C-E@867?<8:-=8<7CD@CC-867-?:;@AG7-:DC7E7AF-96=C7-@8-867-<@;7-8=;7-=8-@<<7?8<-@CC-867-?7@C=<;:D-C=D7H%67-A:B7C-86@8-O7E@A-<:-F@?WCI86L<-7AF<-O?=E68CIH.=C@<-#@?MDA7?D=A@CCIF7GC@?7<-=8<7CD@-G:;7FI-86@8-F:7<-A:8-@B:=F-8?@E7F=7<OL8-G:A8@=A<-867;H-.=C@<-C:<7<-@CC-8:-D=AF-@CC-@AF-F=7<-86@8-67;=E68-C=B7H-%67-A:B7C-;:B7<-N-D?:;86?7@87A=AEG:;>C=G@8=:A<8:@- 6@>>I-7AF=AE-@AF-@- E7A7?@C-@<<L;>8=:A-:D->:<8MF@87F-=AA:MG7AG7-=A-96=G6-7B7?I:A7RP- /@?:AJC=B7<-6@>>=CI-7B7?-@D87?HN867;@??=7<-">>=7J-867-;:867?C7<<E@?F7A7?JG6=CFJ-@AF-867I-E:-8:@-A79.=C@<K<-6:L<7J-96=G6-=<-<L??:LAF7FOIE@?F7A->?7<=F7F-:B7?OI-nA<77A-(:B7HRQ-*A-86=<-A79->@?@F=<7J-.=C@<-6@<-867->C@G7-86@8=<- C:<8H- *- bL:87- D?:;-%67- T6=7D-4:?W<-:D-17A7F=G8-!7N"C=:8K<- 8?@A<C@8=:A.>=A:d@J-8?@A<H-0H- &H- "C97<- Z,79-$:?WJ-X[SS]J-*J- ^\HRa- /A-:>>:<=87>:=A8-:D-B=79-=<- 7V>?7<<7F-OI-0:O7?8-1H- &7=C;@AJ-N078L;- 8:$7@?<-/D87?JN0@B7C:7Y- %6=?8IM5=B7"AEC=<6-2:L?A@CJh(f*- ZX[S\]J-XMXac-67-9?=87<YH- "C=:8-=<-LA9=CC=AE8:-?7FLG7-C=D7-8:-A@8L?@C=<8=GG7?8=8LF7<J8:-<LG6-7V>C@A@8=:A<@AF-D=A@C=8=7<@AF-867-A@8L?@C-9:?CFHN@<- @?7J>?:B=F7FOI-<:G=78IN- .=C@<K<-F::?-=<-:>7A-:A-,79-$7@?K<-7B7-O7G@L<7-67-=<-W77>=AE-867-8?@F=8=:A@C:D-6=<-;:A7IHB=E=CJ-96=G6-67-6:>7<-9=CC-O?=AE-6=;-E::F-CLGW-@AF-867-?7<8:?@8=:A#:CCI-F=7<-D?:;-F?LE<-:A-67?-9@I-8:-?7B7AE7-67?<7CD>LOC=GCI-:A-):FD?7I@8- 867@AF-<77W<-C=E68-@AF-9@?;86H-46@807F-&:L<7->@?8IH-">>=7-C7@B7<-67?-F7@F-;:867?=<-=A-D@G8-867-G:A<7bL7AG7:D-G6@?@G87?@AF-@G8=:AH<77;<-8:-O7-D:?8L=8:L<G-
RP-
5?I7J/A@8:;IJ>H-XUPH-
TG-
2:<7>64=7<7AD@?86-
PRQ-
@8-C7@<8J-">>=7K<6@<-;@F7-D:?-6=;H-5:?-867-;:;7A8J@DD7G8=:A86@A-97-@?7HNG:LCF-O7-6@>>=7?A:O:FI8?L7Y-N-*-86=AW?=AE9:?F<9=86867-A79-/F@;-@AF-867-A79-"B7-=A-867-A79-)@?F7A4=86@AF-<L<8@=A7F=<-86@8J-?7G?7@87FA79-):FJ-867-=;>C=G@8=:A867=?=8-C:AE<-D:?H9=CC-@G6=7B7-867-G:AF=8=:AOI-C:B7J-6L;@A-<:G=78I?=<78:.
F=7F96:-6@<OI-C:B7J- =C@<-#@?A7?:ACI@-67?:%6L<-9=86:D-@-F7M867-L8:>=@A;I86>:<=8=AEOL8-=?:A=G@CCIJ7AF<J-E7A8CI9:?CFH;I86:C:E=d7F:D-4=<G:A=AnA=B7?<=8I#@F=:A-
6@B7-A7B7?-O77A-<7>@?@87F:L8<=F7-867<7-89:-<:G=78=7<MN-=A-96=G6-D:?;-@AF-D77C=AE@-A79-;I86H@AF-=A@LEL?@87<N-Z>H-X^]M@AF- <78<-L>-@-A79-<:G=78IOI-@A-@G8-:D-?7DC7G8=:A-
PRR-
NN-.=C@<-#@?A7?!7;I86:C:E=d=AE-