Ďć! (-!+ēŊ 2,#1 +" 2
Äž ĹŠ } Ä?
ĹŠÄŠÄˆĹŠĹŠ ĹŠ ĹŠ ĹŠÄ‰Ä‡ÄˆÄˆ
-(5#12 1(.ĹŠ"#ĹŠ+ ĹŠ 1.5(-!( +(9 !(¢ ;%(- ĹŠ ÄŒ
7/1#2(¢-ĹŠ"# !(.- +(" " ĈĈ
#231.2ĹŠ 2#ĹŠ! / !(3 ĈČ
#15(.2(2,.ĹŠ#-ĹŠ 2#15(".1#2ĹŠ/ĂŒ +(!.2
.2Ŋ"(1(%#-3#2Ŋ- !(.- +#2Ŋ#23;-Ŋ2.1Ĺ /1#-"(".2Ŋ/.1Ŋ#+Ŋ/#"(".Ŋ"#Ŋ1#-4-!( 2ēŊ .8Ŋ+ Ŋ2(34 !(¢-Ŋ2#Ŋ/."1~ Ŋ1#/#3(1ē
Kd WYk[hZe [djh[ [b c_d_ijhe Z[ H[bWY_ed[i BWXehWb[i" H_Y^WhZ ;if_deiW o bei Z_h_][dj[i Z[ bW 9ed\[Z[hWY_ÂŒd DWY_edWb Z[ I[h# l_Zeh[i F‘Xb_Yei 9edWi[f Z[b ;YkWZeh" ZedZ[ i[ j[d‡W Yece fkdje fh_dY_fWb bW Wfb_YWY_ÂŒd Z[ kd fbWd Z[ h[YWb_Ă’ YWY_ÂŒd Z[ fk[ijei de i[ Ykcfb_ÂŒ feh bW WY# Y_ÂŒd jecWZW" [b l_[hd[i fWiWZe" Yed bW YecfhW Z[ h[dkdY_Wi eXb_# ]Wjeh_Wi Z[ c_b[i Z[ \kdY_edWh_ei [d jeZe [b ;YkWZeh$ ;b i[Yh[jWh_e ][d[hWb Z[ bW 9edWi[f" >ƒYjeh J[h|d 7]k_# hh[" Z_`e gk[ [iW WYj_jkZ de j_[#
(-!.ĹŠ"~ 2ĹŠ"#ĹŠ $#1( ".ĹŠ
Ŋ/1.5(-!( Ŋ 2,#1 +" 2Ŋ#23;Ŋ+(23 Ŋ / 1 Ŋ.$1#!#1Ŋ Ŋ+.2Ŋ341(23 2Ŋ"(5#1Ĺ 2 2Ŋ !3(5(" "#2ŊŊ"41 -3#Ŋ+.2Ŋ!(-!.Ŋ "~ 2Ŋ04#Ŋ"41#Ŋ#23#Ŋ$#1( ".ē ;%(- Ŋ ĉĹ Ċ
d[ fh[Y[Z[dj[ [d bW ^_ijeh_W Z[b fW‡i" feh be gk[ ik]_h_ÂŒ jecWh c[Z_ZWi Z[ ^[Y^e YedjhW bWi Z[Y_i_ed[i WZefjWZWi feh [b =e# X_[hde$ :_`e gk[ [b c|n_ce h[fh[i[d# jWdj[ Z[ bei I[hl_Zeh[i F‘Xb_Yei bei YedleYÂŒ fWhW cW‹WdW cWhj[i W bWi ',0&&" i_jkWY_ÂŒd gk[ de [ij| Z[ WYk[hZe" ÆI_ bW h[kd_ÂŒd [i ^eo W bWi '&0&& Wi_ij_hƒ" de feZ[cei Z[`Wh fWiWh feh Wbje [ij[ j[cW" oW l_[d[ kd \[h_WZe feh [ie de fe# Z[cei f[hZ[h j_[cfeÇ [nfh[iÂŒ$ ;%(- ĹŠ ÄŽ
/ -Ĺ‹ & .), & I[Yjeh[i Z[ bW efei_Y_ÂŒd Yedi_# Z[hWd gk[ [b =eX_[hde DWY_e# dWb" XkiYW feh jeZei bei c[Z_ei" Yh[Wh kdW cehZWpW [b[YjehWb" Yed c_hWi W bWi [b[YY_ed[i Z[b W‹e (&')$ Bei c[YWd_icei" i[]‘d bei efei_jeh[i" YedijWd [d [b fhe# o[Yje Z[ B[o Z[ 9eckd_YWY_ÂŒd1 [d bW B[o 7dj_cedefeb_e" [d bW B[o F[dWb" o [d bW Z[ J[b[Ye# ckd_YWY_ed[i" be gk[ fheleYW ZkZWi Z[ YWhWi W bei fhÂŒn_cei Yec_Y_ei$ <Wkije 9eXe FIF Z_Y[ gk[ bW h[i_ij[dY_W gk[ [b =eX_[hde [d\h[djÂŒ ZkhWdj[ [b Z[XWj[ Z[ bW B[o Z[ 9eckd_YWY_ÂŒd" b[ eXb_]ÂŒ W Ăˆc_dWhÉ bei fkdjei c|i i[di_# Xb[i Z[ [ij[ fheo[Yje" o fWkbWj_# dWc[dj[ bei \k[ jhWibWZWdZe$
;%(- ĹŠ Ĉ
666Ä“+ '.1 Ä“!.,Ä“#!
ŏ
Ă
0%!),+ (! 01. āĆŏ)%*ċ
ŏăāŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
-%+ 1ũ#ũ'(23.1( ŗũ -ũ 2,#1 +" 2ũ2#ũ/4#"#ũ!.-.!#1ũ8ũ. 2#15 1ũ"#ũ!#1! ũ!.,.ũ2#ũ#-!4#-31 ũ 11./ " ũ!.-ũ4-ũ#73#-2.ũ, -%+ 1Ĕũ04#ũ2#ũ+.ũ5(24 +(9 ũ"#2"#ũ+.2ũ/4#-3#2ũ8ũ5~ 2ũ"#ũ
!!#2.Ĕũ!.-2314(".2ũ' !#ũ,;2ũ"#ũ".2ũ .2ũ2. 1#ũ#+ũ1~.ũ 2,#1 +" 2ē
ũ, )#234.2(" "ũ"#ũ#23 ũ. 1 ũ1# .2 ũ"#ũ!.+.1(".Ĕũ!4 -".ũ/.1ũ+ 2ũ-.!'#2ũ+ 2ũ +4,(- 1( 2ũ+#ũ" -ũ#2#ũ3.04#ũ"#ũ/ (2 )#Ĕũ5~ 2ũ04#ũ' -ũ !#1! ".ũ ũ+ ũ9.- ũ-.13#ũ!.-ũ + ũ!(4" "Ĕũ/.1ũ+.ũ04#ũ++#% 1ũ +ũ #1./4#13.ũĥ #-#1 +ũ (5 "#-#(1 ũũ#-ũ+ ũ/ 11.04( ũ !'(- Ĕũ2.+.ũ#2ũ!4#23(¢-ũ"#ũĈĎũ,(-43.2ē -ũ04(-!#ũ,(-43.2ũ,;2Ĕũ2#ũ#-!4#-31 ũ -ũ 3#.Ĕũ+4% 1ũ2(%-(ă! 3(5.ũ/ 1 ũ+ ũ /1.5(-!( Ĕũ8 ũ04#ũ+ ũ'(23.1( ũ1#!.%#ũ04#ũ#+ũĉĈũ"#ũ2#/3(#, 1#ũ"#ũĈĎĉďĔũ++#% 1.-ũ ũ+ 2ũ !.23 2ũ"#ũ+ ũ/1.5(-!( ũ 2,#1 +" 2ũ#7/#"(!(.- 1(.2ũ#2/ .+#2ũ04#ũ 11( 1.-ũ ũ+ ũ '~ ũ"#ũ -ũ 3#.Ĕũ".-"#ũ1#!( (#1.-ũ/1#2#-3#2ũ"#ũ+.2ũ .1~%#-#2ēũ #%Ì-ũũ+ ũ'(23.1( Ĕũ#+ũ-., 1#ũ"#ũ 2,#1 +" 2ũ2#ũ"# #ũ ũ+ ũ%1 -ũ#7(23#-!( ũ"#ũ/(#ı "1 2ũ/1#!(.2 2ũũ!.,.ũ+ ũ#2,#1 +" Ĕũ04#ũ+.2ũ#2/ .+#2ũ#-!.-31 1.-ũ#-ũ#2 2ũ3(#11 2ē
(5#12(¢ŗũũ 1 ũ04(#-#2ũ"#2##-ũ#)#1!(3 12#Ĕũ #-ũ+ 2ũ/+ 8 2ũ"#ũ 2ũ +, 2Ĕũ .-24ı
/ ũ8ũ 3 ! ,#2Ĕũ2#ũ1# +(9 1;-ũ).1- ı " 2ũ"#ũ #1¢ (!.2Ĕũ!..1"(- ".ũ/.1ũ#+ũ (-(23#1(.ũ"#ũ #/.13#2ũ8ũ 41(2,.Ĕũ #-ũ#23 ũÌ+3(, ũ!(4" "Ĕũ#23;ũ4 (! ".ũ + ũĥ -(¢-ũ"#ũ 3 ! ,#2Ħũ ".ũ"#ũ %4 ũ"4+!#ũ8ũ2#ũ++#% ũ#-ũ 42ũ#-ũ!#1! ũ "#ũĉćũ,(-43.2ēũ
1 "(!(¢ŗũ , (_-ũ2#ũ!4#-3 ũ!.-ũ.31.2ũ"#23(-.2ũ341~23(!.2ũ4 (! ".2ũ#-ũ+ ũ9.- ũ-.13#ũ "#ũ+ ũ/1.5(-!( Ĕũ ++~ũ#23;ũ -!'(, +#1.Ĕũ/. + !(¢-ũ"#ũ (,.-#2Ĕũ! -3¢-ũ +.8ũ
+$ 1.Ĕũ".-"#ũ2#ũ!#+# 1 ũ+ ũ31 "(!(.- +ũ/1.!#2(¢-ũ1#+(%(.2 ũ"#+ũ -3.ũ #%1.Ĕũ -ũ 13~-ũ"#ũ .11#2ē +ũ5( )#ũ2#ũ+.ũ/4#"#ũ' !#1ũ"#2"#ũ 2,#1 +" 2ũ#-ũ31 -2/.13#ũ(-3#1! -3.- +ũ' 23 ũ
ũ .+ Ĕũ#+ũ31 8#!3.ũ#2ũ"#ũ".2ũ'.1 2ũũ8ũ#+ũ/ 2 )#ũ!4#23 ũĊēĎćũ"¢+ 1#2Ĕũ"#ũ '~ũ Čćũ,(-43.2ũ#-ũ+ -!' ũ ũ (,.-#2ũ/ % -".ũĉēĎćũ"¢+ 1#2Ĕũ"#ũ".-"#ũ2#ũ2 +#ũ#-ũ /1.!#2(¢-ũĄ45( +ũ' 23 ũ -!'(, +#1.ēũ +ũ !3.ũ#2ũ#+ũĊũ"#ũ-.5(#, 1#
ŋ ŋ ŋ ŋ ŋ
2ũ/+ 8 2Ĕũ +-# 1(.2ũ"#ũ %4 ũ"4+!#Ĕũ% 2ı 31.-.,~ Ĕũ2(3(.2ũ341~23(!.2ũ8ũ!4+341 +#2ũũ2.-ũ/ 13#ũ "#ũ+.2ũ 31 !3(5.2ũ"#ũ+ ũ/1.5(-!( ũ 2,#1 +" 2ēũ
WhW bb[]Wh W ;ic[hWbZWi i[ be fk[Z[ ^WY[h Z[iZ[ bWi Z_\[h[dj[i YWf_jWb[i Z[ fhel_dY_W o ejhWi Y_k# ZWZ[i" fehgk[ ^Wo jhWdifehj[ j[# hh[ijh[ gk[ iWb[ Z[iZ[ o ^WY_W ;i# c[hWbZWi Yed lWh_Wi \h[Yk[dY_Wi Z_Wh_Wi$ ;d YWie Z[ gk[ de ^WoW l[^ Ykbe f Xb_Ye" bb[]k[ ^WijW IWdje :ec_d]e Z[ bei Ji|Y^_bWi" o [d jh[i ^ehWi [ijWh| [d bW l[hZ[ fhel_dY_W [ic[hWbZ[ W$ F[he i_ l_W`W Z[iZ[ IkYkcX ei" DWfe" 9WhY^_" ?cXWXkhW" F_Y^_dY^W" 9ejefWn_ o Jkd]khW^kW" fWi[ feh Gk_je ZedZ[ [dYedjhWh| Zei l Wi" bW YW# hh[j[hW 7b W]#IWdje :ec_d]e ;ic[hWbZWi o bW Gk_je Ä IWd C_]k[b Z[ bei 8WdYei Ä F[Zhe L_Y[dj[ CWbZedWZe Ä Fk[hje Gk_je Ä BW ?dZ[f[dZ[dY_W Ä ;ic[hWbZWi$ :[iZ[ ;ic[hWbZWi fk[Z[ l_i_jWh IWd CWj[e" JW#
4+341 ũ ŗũ 31 ũ"#ũ+ 2ũ +3#1- 3(5 2Ĕũ#-ũ#+ũ!#-31.ũ"#ũ+ ũ !(4" "Ĕũ#2ũ' !#1ũ4- ũ/ 1 " ũ#-ũ#+ũ 42#.ũ8ũ
#-31.ũ 4+341 +ũ"#+ũ (-(23#1(.ũ"#ũ 4+341 ũ#-ũ 2,#1 +" 2Ĕũ4 (! ".ũ#-ũ+ 2ũ! ++#2ũ (#"1 '(3 ũ 8ũ .+~5 1ũ#204(- ēũ 3#-"#1;ũ"#ũũćĒĖććũ ũ ĈďĖććũ(-(-3#114,/(" ,#-3#Ĕũ+.2ũ!(-!.ũ"~ 2ũ "#+ũ$#1( ".ē
ũ 3#-!(¢-ũ#2ũ%1 34(3 Ĕũ' 1;ũ#7/.2(!(.-#2ũ "#ũ 104#.+.%~ ũ8ũ"#ũ+.2ũ $1."#2!#-"(#-3#2ėũ #+ũ2; ".ũ8ũ".,(-%.ũ"#ũĈĎĖććũ ũĈĐĖććĔũ /1.8#!!(.-#2ũ"#ũ/#+~!4+ 2ũ2. 1#ũ3#, 2ũ $1.
Y^_dW" 9WcWhed[i" H_el[hZ[" HeYW\k[hj[" CedjWb# le BW]Whje" BW JebW" 8ehX d" IWd Beh[dpe [jY$ >W# XbWh Z[ \[h_WZe [i i_]d_ÒYWZe Z[ Z_l[hi_ d" l_W`[i" o Z_i\hkjWh [d \Wc_b_W$ +-# 1(.2ũ"#ũ %4 ũ"4+!# ;ijW fhel_dY_W i[ bW YWhWYj[h_pW feh iki XWbd[Wh_ei jWdje Z[ W]kW iWb Yece Z[ ZkbY[" f[he WZ[c|i" ^Wo kdW lWh_[ZWZ Z[ bk]Wh[i Yece Wbj[hdWj_lW Z[ Z_l[h# i_ d o [b h[Yehh_Ze [cf_[pW [d [b ikh Z[b YWdj d ;ic[# hWbZWi" [d JWX_Wpe o i[]k_Ze Z[ Lk[bjW BWh]W$
FWhW bb[]Wh Wbb|" Z[iZ[ [b Y[djhe Z[ bW Y_kZWZ ;i# c[hWbZWi [d jhWdifehj[ khXWde" ied [djh[ )& *+ c_dkjei h[if[Yj_lWc[dj[" [b fWiW`[ iebe Yk[ijW (+ Y[djWlei" [ijWdZe Wbb fk[Z[ Z_i\hkjWh Z[ Wb_c[djei fh[fWhWZei Yed YWhd[ Z[ cedj[ Yece bW ]kWdjW" jWjWXhW" WhcWZ_bbe1 o Z[b h e" [b f[iYWZe o YWcWh d Z[ j[dWpWi ]hWdZ[i$
Ĺ?
ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
ă
ēŊ -Ŋ#+Ŋ #,#-3#1(.Ŋ 4-(!(/ +Ŋ"#Ŋ 2,#1 +" 2ĔŊ"#2! -2 -Ŋ+.2Ŋ1#23.2Ŋ"#Ŋ/#12.- +(" "#2Ŋ04#Ŋ' -Ŋ'#!'.Ŋ'(23.1( Ŋ"#Ŋ 2,#1 +" 2ĔŊ"#2"#Ŋ+.Ŋ/.+~3(!.ĔŊ/._3(!.Ŋ8Ŋ+(3#1 1(.ē
#-.),# Ĺ‹ -' , & ˜ Ĺ‹ - Ĺ‹ &Ĺ‹ ' (. ,#) FWhW FWjh_Y_e =kWoWiWc‡d" [ic[# hWbZ[‹e o ZeY[dj[" feZ[h l_i_jWh [b Y[c[dj[h_e ckd_Y_fWb Z[ ;ic[# hWbZWi [d [ij[ \[h_WZe" [i YedeY[h bW ^_ijeh_W Z[ ik Z[iWhhebbe W cWdei Z[ ^ecXh[i o ck`[h[i gk[ Z[iYWd# iWd [j[hdWc[dj[ [d [i[ bk]Wh$ 7bb‡ i[ [dYk[djhWd bei h[ijei Z[b Yehed[b o ^ƒhe[ Bk_i LWh]Wi Jehh[i" Z[iZ[ '/+)1 I_cÂŒd FbWjW Jehh[i" gk[ \k[ WbYWbZ[ o Z_e bW fWkjW fWhW eXj[d[h bW YWhh[j[hW
IWdje :ec_d]e # Gk_d_dZƒ Ă„ ;i# c[hWbZWi$ JWcX_ƒd [ij| [b ^_ijeh_WZeh o Z_fkjWZe" @kb_e ;ijkf_‹|d J[bbe1 ik [ifeiW" bW f_djehW Eb_cf_W 7]k_# hh[1 @eh][ 9^_h_Xe]W =k[hh[he" Z_# fkjWZe" WbYWbZ[" fh[\[Yje" YedY[`Wb" kd ^ecXh[ Z[ _pgk_[hZW$
c[i o BW 9edYehZ_W$ 7Z[c|i" CWh]Wh_jW 9ehjƒi" WkjeZ_ZWYjW" Yh[Œ j[eh‡Wi fWhW bW [ZkYWY_Œd1 7hY[b_e HWc‡h[p 9Wi# jh_bbŒd" fe[jW" ZeY[dj[" [iYh_jeh o <hWdY_iYe C[`‡W L_bbW" gk[ Z[`Œ f_djeh o ik ^_`W C_h[oW HWc‡h[p \‡i_YWc[dj[ _d_Y_WZe [b Ckd_Y_# FWh[Z[i" \k[ c_[cXhe Z[ bW 9WiW f_e Z[ ;ic[hWbZWi o =eX_[hde Z[ bW 9kbjkhW Z[ ;ic[hWbZWi" Fhel_dY_Wb" \k[ Z_fkjWZe" WbYWb# f_djehW o Z_ZWYjW$
#% ".2 Z[" fh[\[Yje o YedY[`Wb1 >ec[he J|Y_je Ehj_p Khh_ebW" Yecfei_jeh o BÂŒf[p IW‘Z" Z_fkjWZe" fh[\[Yje" #1(."(23 2ĹŠ Yh[WZeh Z[b >_cde W ;ic[hWbZWi" be]hÂŒ bW YWdjed_pWY_ÂŒd Z[ 7jWYW# >ehWY_e :hek[j 9WbZ[hÂŒd" Yh‡j_Ye fe[jW hec|dj_Ye1 9ƒiWh Dƒl_b ;i# jkf_‹|d 8Wii" WcWdj[ Z[ bei b_Xhei o Z[Z_YWZe W bW ^_ijeh_W1 ;iYeb|i# j_Ye Ieb‡i" cWh_cX[he o Yefb[he1 H[cX[hje ;iYeXWh" Yefb[he$
Z[ eXhWi b_j[hWh_Wi Z[b fW‡i" >ƒYjeh 9Wi_[hhW F[hbWpW" Yk[dj_ijW1 @eh][ 9Wi_[hhW F[hbWpW" Z[fehj_ijW1 ;if[# hWdpW <eoWh‡d" h[jhWj_ijW$
Bei f[h_eZ_ijWi0 >ƒYjeh ;dZW# hW ;dZWhW" HW‘b :[b]WZe =WhWo" :Wd_[b Ă›blWh[p J[deh_e" @eh][ @Wb_b PWcXhWde" C[d[bWe @WhW H[_dW" Jec|i HeZW 9^Wkp" \k[ fh[i_Z[dj[ Z[ bW 9WiW Z[ bW 9kb# jkhW" Z_h[Yjeh Z[ :_Wh_e BW >ehW ;ic[hWbZWi$
)-Ĺ‹ # /(.)-Ćŋ., # #š(Ĺ‹3Ĺ‹ ,# ) ;d [b YWb[dZWh_e Z[ \[h_WZei Z[b ;YkWZeh" [ij| [b ( Z[ del_[cXh[" Yedi_Z[hWZe Yece [b Z‡W Z[ bei <_[b[i :_\kdjei o [b ) Z[ del_[c# Xh[ bW ?dZ[f[dZ[dY_W Z[ 9k[dYW" be gk[ i[ Wfhel[Y^W fWhW ^WY[h jkh_ice o YedeY[h [b fW‡i$ F[he" iWb_[dZe Z[ [ij[ Yedj[n# je jkh‡ij_Ye" [ij| bW [i[dY_W Z[ bW fh_c[hW \[Y^W" ZedZ[ ckY^Wi f[hiedWi Wfhel[Y^Wd fWhW l_i_# jWh bW jkcXW Z[ [i[ i[h gk[h_Ze gk[ Z[iYWdiW [j[hdWc[dj[$ FWhW CWh_dW EXWdZe B[cei" Z[ -+ W‹ei Z[ [ZWZ" gk[ bb[]k[ [i[ Z‡W" bW cej_lWXW W fh[fWhWi[ Yed iki ^_`ei fWhW j[d[h b_ije bWi YehedWi gk[ bb[lWh‡Wd Wb Y[c[d# j[h_e" Wbb| [d bW fWhhegk_W 9Whbei 9edY^W" Z[b YWdjÂŒd ;ic[hWbZWi" Z[iZ[ bW Yeckd_ZWZ ĂˆDÉ" ZedZ[ l_l‡W$
¥ ēŊ 1(- Ŋ -".Ŋ #,.2ĔŊ Ŋ/#2 1Ŋ"#Ŋ04#Ŋ+ 2Ŋ!.2 2Ŋ' -Ŋ! , ( ".Ŋ#-Ŋ +.2Ŋ ($4-3.2ĔŊ"(!#Ŋ-.Ŋ/#1"#1Ŋ+ Ŋ!.234, 1#Ŋ"#Ŋ5(2(3 1Ŋ#-Ŋ$ ,(+( Ŋ+ Ŋ34, Ŋ"#Ŋ24Ŋ'() Ŋ $ ++#!(" ē
.234, 1#2 BWi YehedWi j[d‡Wd gk[ i[h bWi c[`ehWi o bWi c|i Yebeh_ZWi" feh [bbe" h[Ye]‡Wd bW f_gk_]kW o Yed [ije \ehcWXWd [b Y‡hYkbe e Wb]kdW ejhW Ò]khW Z|dZeb[ kd Yedjehde h‘ij_Ye$
#231#9 2ĹŠ!.+.1(" 2ĹŠ Ĺ—ĹŠĹŠ 41 -3#ĹŠ#+ĹŠ$#1( ".ĹŠ"#ĹŠ+.2ĹŠÄĽ (#+#2ĹŠ"($4-3.2ČĔŊ2. 1#2 +#-ĹŠ+ 2ĹŠ/.3#-!( +(" "#2ĹŠ 13~2Äą 3(! 2ĹŠ"#ĹŠ+ ĹŠ)45#-34"ĔŊ +ĹŠ/(-3 1ĹŠ4- ĹŠ34, ĹŠ8ĹŠ1# +(9 1ĹŠ+#31 2ĹŠ$4#1 ĹŠ"#ĹŠ+.ĹŠ!.,ĂŒ-ĔŊ!.,.ĹŠ 3 , (_-ĹŠ!(#13.2ĹŠ"( 4).2ĹŠ04#ĹŠ 31 #-ĹŠ+ ĹŠ,(1 " ĹŠ"#ĹŠ+.2ĹŠ5(2(3 -3#2Ä“ 4!'.2ĹŠ"#ĹŠ#++.2ĹŠ#234"( -3#2ĹŠ"#ĹŠ2#!4-" 1( ĹŠ8ĹŠ04#ĹŠ "#,;2ĹŠ"#ĹŠ43(+(9 1ĹŠ#23 ĹŠ !3(5(Äą " "ĹŠ/ 1 ĹŠ1#!( (1ĹŠ"(-#1.ĔŊ+.ĹŠ' !#-ĹŠ/ 1 ĹŠ' !#1ĹŠ/1;!3(! 2ĹŠ#-ĹŠ#23#ĹŠ 13#Ä“
Ik Z[YehWY_ÂŒd [hW W XWi[ Z[ Ă“eh[i WcWh_bbWi o XbWdYWi" gk[ i_[cfh[ j[d‡Wd [d iki fWj_ei e fejh[hei" W [ijWi gk[ Yh[Y‡Wd [d hWcWi Ă“[n_Xb[i" i[ bWi [dlebl‡W [d bW f_gk_]kW o i[ bWi WcWhWXW Yed j_hWi Z[ fWbcW gk[ i[ kj_b_pW [d bei Zec_d]ei Z[ hWcei $
EjhW jhWZ_Y_Œd EXWdZe B[# cei" [hW fh[fWhWh bW Yec_ZW gk[ c|i b[ ]kijWXW W ik ^_`W cWoeh" gk[ ckh_Œ ^WY[ (. W‹ei" o [iei Wb_c[djei bei jhWibWZWXWd ^WijW [b Y[c[dj[h_e o `kdje W bW \Wc_b_W Z[ifkƒi Z[ [cX[bb[Y[hb[ ik jkc# XW Yec‡Wd jeZei [d ik ^edeh$
Ä…
ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
#2# -ĹŠ4-ĹŠ ,(-(ĹŠ!4 13#+
Ĺ—ĹŠ
Bei cehWZeh[i Z[b i[Yjeh ĂˆBW 9eij[‹_jWÉ j_[d[d fhe# o[YjWZe Yed bW ZedWY_ÂŒd Z[ bW _d\hW[ijhkYjkhW Z[b C_d_ij[h_e Z[ ?dYbki_ÂŒd ;YedÂŒc_YW o IeY_Wb C?;I XkiYWh [b Ă’ dWdY_Wc_[dje fWhW Yh[Wh kd c_d_ YkWhj[b" [d [b bk]Wh fWhW _h [hhWZ_# YWdZe bW Z[b_dYk[dY_W$
.ĹŠ' 8 (-$.1,#ĹŠ
ŗŊŊJeZWl‡W de i[ ^W ZWZe W YedeY[h [b _d\ehc[ Z[b
9ec_jƒ CƒZ_Ye Z[ bW :_h[Y# Y_ÂŒd Fhel_dY_Wb Z[ IWbkZ" ieXh[ gkƒ YbWi[ Z[ ^eif_jWb j[dZh‡W gk[ Yedijhk_hi[ Yed bei h[Ykhiei Z[ F[jhe[YkW# Zeh" h[Ykhiei gk[ i[ bei [d# jh[]W feh bW Yecf[diWY_ÂŒd ieY_Wb" Z[X_Ze W bW YedijWdj[ YedjWc_dWY_ÂŒd WcX_[djWb Yece Ă“ kl_Wb [d [b YWdjÂŒd ;ic[hWbZWi$
(# # (ŋðŋ -. -ŋ ŋ ,)0#( #  #š(ŋ
ĹŠ#+#!!(¢-ĹŠ"#ĹŠ+ ĹŠ #(- ĹŠ8ĹŠ ( Ŋ 1.Äą 5(-!( +(9 !(¢-ĹŠ2#ĹŠ1# +(9 1;ĹŠ#-ĹŠ+ ĹŠ + 9 ĹŠ ~5(! ēŊ 9ed bW fh[i[djWY_ÂŒd Z[ bWi YWd# Z_ZWjWi W H[_dW o D_‹W Fhel_d# Y_Wb_pWY_ÂŒd gk[ i[ h[Wb_pWh|" cW# ‹WdW" cWhj[i kde Z[ del_[cXh[" [d bW FbWpW 9‡l_YW" W fWhj_h Z[ bWi '/0&&" i[ _d_Y_W bW Ă’ [ijW Z[ bW Fhe# l_dY_Wb_pWY_ÂŒd$ ;d [ij[ WYje jWcX_ƒd [b[]_h| [b ĂˆJhW`[ Z[ <WdjWi‡WÉ$ ;b c[`eh Z_i[# ‹e h[Y_X_h| .&& ZÂŒbWh[i$ ;b Z_h[Y# jeh Z[ 9kbjkhW Z[b =eX_[hde Fhe# l_dY_Wb" @eiƒ HeZh‡]k[p Gk_‹Œd[p" cWd_\[ijÂŒ gk[ bWi WYj_l_ZWZ[i i[ ikif[dZ[d ^WijW [b . Z[ del_[c# Xh[ gk[ i[ Z[iWhhebbWh| [b fh[]ÂŒd Z[ Ă’ [ijW$
ĹŠ
2ĹŠ% - ".1 2
Ŋ #(- ŊŊ2#Ŋ% - 1;Ŋ4-Ŋ! 11.Ŋ!#1.Ŋ ŗŊ *(+¢,#31.2ēŊ
ŗŊ Ŋ5(11#(- Ŋ1#!( (1;Ŋ4- Ŋ/ 22.+ ē +Ŋ,#).1Ŋ31 )#Ŋ"#Ŋ$ -3 2~ Ŋ1#!( (1;ŊđććŊ ŗŊ "¢+ 1#2ēŊŊ
Ŋ ( Ŋ 1.5(-!( +(9 !(¢-Ŋ2#Ŋ% - 1;Ŋ4-Ŋ ŗŊ )4#%.Ŋ"#Ŋ".1,(3.1(.Ŋ!.,/+#3.ē
i[h| [b '( Z[ del_[cXh[" Z[iZ[ bWi '/0&& [d bW FbWpW 9‡l_YW$ EjhW Z[ bWi WYj_l_ZWZ[i Z[ jhWi# +#!!(.-#2ĹŠ"#ĹŠ1#(- 2 ;b `eb]eh_e _d_Y_Wh| [d 7_h[ B_Xh[" Y[dZ[dY_W i[h| [b Ăˆ<[ij_lWb Z[ bW W bWi '+0)&" i[]k_h| feh bW YWbb[ @kl[djkZÉ" gk[ i[ Z[iWhhebbWh| [d Ebc[Ze" IWb_dWi o I_cÂŒd 8eb‡# [b [ijWZ_e Ăˆ<eba[ 7dZ[hiedÉ$ C_[d# lWh" fWhW j[hc_dWh [d bW FbWpW jhWi gk[ [b '. Z[ del_[cXh[ i[ h[W# 9‡l_YW" ZedZ[ ^WXh| bW [nfbei_ÂŒd b_pWh| [b Z[iĂ’ b[ YkbjkhWb [d [b ikh Z[ bei `k[]ei f_hejƒYd_Yei$ Z[b YWdjÂŒd ;ic[hWbZWi$ BW [b[YY_ÂŒd Z[ bW D_‹W Fhel_d# Y_Wb_pWY_ÂŒd i[h| [b '' Z[ del_[cXh[" #2(¢-ĹŠ .+#,-# W fWhj_h Z[ bWi '.0&&" c_[djhWi gk[ ;b '- o '. Z[ del_[cXh[ [d bW FbW# bW H[_dW Z[ bW Fhel_dY_Wb_pWY_ÂŒd pW 9‡l_YW i[ [\[YjkWh| bW \[h_W Z[
)( /,-)Ĺ‹ - /&./, &Ĺ‹ Ĺ‹ &)3Ĺ‹ & ,)Ĺ‹ &! )
13#2ĹŠ/+;23(! 2ĹŠ
FWY^[Ye :[b]WZe" W]h[]Œ" gk[ bei fWhj_Y_fWdj[i feZh|d i[h ^ecXh[i o ck`[h[i Z[ cWd[hW _dZ_l_ZkWb" cWoeh[i Z[ [ZWZ" [d [gk_fe e f[hiedW `kh‡Z_YW Z[djhe Z[ bWi Whj[i fb|ij_YWi" l_ikWb[i" Z_i[‹WZeh[i" Whgk_j[YjkhW e [d
Ăˆ:[iWhhebbe FheZkYj_leÉ$ ;b '/ i[h| [b XW_b[ fefkbWh Yed bW fh[# i[djWY_ÂŒd Z[b ]hkfe _dj[hdWY_e# dWb =Wb[ o ]hkfei beYWb[i$ ;b (& Z[ del_[cXh[" Z‡W Z[ bW Fhel_dY_Wb_pWY_ÂŒd" i[ Z[iW# hhebbWh| [b Z[iĂ’ b[ YkbjkhWb Z[ bW _dj[]hWY_ÂŒd fhel_dY_Wb" [cf[# pWh| W bWi &/0&&" Wi_ij_h| kdW
Z[b[]WY_ÂŒd feh YWZW kde Z[ bei eY^e YWdjed[i" h[Yehh[h| bW YWbb[ Ebc[Ze" IWb_dWi o I_cÂŒd 8eb‡lWh fWhW j[hc_dWh [d bW FbWpW 9‡l_YW$ C_[djhWi gk[ bW I[i_ÂŒd Ieb[cd[ i[ h[Wb_pWh| [d [b j[Wjhe Y‡l_Ye ĂˆJ|Y_je Ehj_p Khh_ebWÉ Z[b =eX_[h# de Fhel_dY_Wb" YWbb[ '& Z[ 7]eije o F[Zhe L_Y[dj[ CWbZedWZe
,& Ĺ‹ (), Ĺ‹! (šŋ #- )Ĺ‹ Ĺ‹),)ŋŋ Feh bW l[djW ikf[h_eh W '& c_b kd_ZWZ[i Z[b |bXkc ĂˆFeh 7cehÉ Z[ AWhbW AWdehW" i[ Yedl_[hj[ [d bW fh_c[hW [ic[# hWbZ[‹W [d ]WdWh kd Z_iYe Z[ ehe o fbWj_de$ ;b cWdW][h" @eh][ CWhj‡d[p" cWd_\[ijÂŒ gk[ [b |bXkc Z[ AWh# bW AWdehW ]WdÂŒ [d [b ;YkWZeh Z_iYe Z[ Ehe o FbWj_de feh l[d# jWi ikf[h_eh[i W )$&&& o -$&&& kd_ZWZ[i h[if[Yj_lWc[dj[$ Æ;ije be YedeY_cei [b fWiWZe
9kWh[djW c_b ZÂŒbWh[i h[Y_X_h| [b ]WdWZeh Z[b YedYkhie [iYkbjkhWb Ăˆ7b\Whe ;i#YkbjkhWÉ" gk[ XkiYW h[# iWbjWh [b fheY[ie h[lebkY_edWh_e [d [b cWhYe Z[ bW Yedc[cehW# Y_ÂŒd Z[ bW ck[hj[ Z[b YecWdZWd# j[ ;beo 7b\Whe :[b]WZe$ ;b WYj_l_ijW Z[b C_d_ij[h_e Z[ 9kbjkhW" ;ic[hWbZWi" Bk_i <[b_# f[ FWY^[Ye :[b]WZe" [nfb_YÂŒ gk[ fWhW bW \ehckbWY_ÂŒd Z[b fheo[Yje i[ Z[X[ Yedi_Z[hWh bei i_]k_[dj[i fWh|c[jhei Yece [i bW cWgk[jW Z[ kdW eXhW gk[ lW W j[d[h _dĂ“ k[dY_W khXWdW$ 7i_c_ice" [b fheo[Yje Z[X[h| j[d[h kdW l_i_ÂŒd fW_iW`_ijW Whgk_# j[YjÂŒd_YW" [iYkbjÂŒh_YW o ZkhWZ[hW" Yed [b Ă’ d gk[ i[ ^W]W kdW b_Xh[ _dj[hfh[jWY_ÂŒd Yedj[cfeh|d[W Z[b b[]WZe YkbjkhWb" ^_ijÂŒh_Ye o ieY_Wb Z[b B_X[hWb_ice$
ēŊ ĹŠ/1#2#-3 !(¢-ĹŠ.ÄƒĹŠ!( +ĹŠ"#ĹŠ+ 2ĹŠ! -"(" 3 2ĹŠ ĹŠ #(- ĹŠ8ĹŠ ( Ŋ 1.5(-!( +Äą (9 !(¢-ĹŠĹŠ8ĹŠ#+#!!(¢-ĹŠ"#+ĹŠ,#).1ĹŠ31 )#ĹŠ"#ĹŠ$ -3 2~ ĹŠ2#ĹŠ1# +(9 1;ĹŠ#+ĹŠ4-.ĹŠ"#ĹŠ-.5(#, 1#ēŊ
cWhj[i '. Z[ eYjkXh[ feh Jec|i 7d]h[^i WfeZ[hWZe ][d[hWb Z[ kdW [cfh[iW [dYWh]WZW Z[ bW Z_ijh_XkY_ÂŒd o Yec[hY_Wb_pWY_ÂŒd Z[b 9:Ç" h[Ă’ h_ÂŒ CWhj‡d[p$ 7]h[]ÂŒ" gk[ ĂˆFeh WcehÉ [i [b j[cW gk[ i_hl_ÂŒ Yece YWhjW Z[ fh[i[djWY_ÂŒd fWhW [ij[ dk[le cWj[h_Wb" [b YkWb oW [ij| eYk# fWdZe bei fh_c[hei bk]Wh[i [d bWi hWZ_ei Z[ =kWoWgk_b o fh[# fWhWdZe ik fheceY_ÂŒd fWhW Gk_je o [b h[ije Z[b fW‡i$
¥ ēŊ #Ŋ 1#Ŋ Ŋ-(5#+Ŋ- !(.- +Ŋ#+Ŋ!.-!412.Ŋ#2!4+341 +Ŋļ +$ 1.Ŋ 2Ĺ !4+341 Čē
YedijhkYY_ÂŒd1 e Z[b [nj[h_eh Yed Z_`e <[b_f[ FWY^[Ye$ h[i_Z[dY_W c‡d_ce Z[ + W‹ei [d [b FW‡i$ 7YbWhÂŒ" gk[ iÂŒbe i[ WZc_j_h| bWi fh[i[djWY_ed[i Z[ kdW feijkbWY_ÂŒd feh fWhj_Y_fWdj[" o [b `khWZe i[h| gk_[d i[b[YY_ed[ bW eXhW fh[c_WZW1 i_ i[ jhWjW Z[ kd [gk_fe e f[hiedW `kh‡Z_YW" YWZW c_[cXhe fWhj_Y_fW# h| [d kdW i[b[YY_ÂŒd$ Æ;ijW eXhW i[ bW h[Wb_pWh| [d bW Y_kZWZ Z[ Gk_je" [d [b fWhgk[ ;b ;`_Ze kX_YWZe [d [b [`[ l_Wb Z[ bW 7l$ '& Z[ 7]eije o YWbb[ 8e]ej|Ç"
ĹŠ1#!#/!(¢-ĹŠ"#ĹŠ/1.8#!3.2ĹŠ (1#!!(¢-ĹŠ 1.5(-!( +ĹŠ"#ĹŠ 4+341 ĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠĹŠ 2,#1 +" 2Ä“ #+#!!(¢-ĹŠ"#+ĹŠ"(2# .ĹŠ% - ".1ŊŊŊŊŊŊŊŊŊĉĉŊ"#ĹŠ Ĺ—ĹŠ #-#1.ĹŠ"#+ĹŠÄ‰Ä‡ÄˆÄ‰Ä“ 4#231 ĹŠ"#+ĹŠ/1.8#!3.ĹŠ/ 13(!(/ -3#ŊŊŊĉĊŊ Ĺ—ĹŠ "#ĹŠ#-#1.ĹŠ"#+ĹŠÄ‰Ä‡ÄˆÄ‰Ä“ 1#,( !(¢-ĹŠ"#ĹŠ+ ĹŠ. Ĺ—ĹŠ "#ĹŠ#-#1.ĹŠ"#+ĹŠÄ‰Ä‡Äˆ
1 Ŋ2#+#!!(.- " ŊĉđŊ
ēŊ 1+ ĹŠ -.1 ĹŠ% -¢Ŋ"(2!.ĹŠ"#ĹŠ.1.ĹŠ8ĹŠ/+ 3(-.ĹŠ/.1ĹŠ5#-"#1ĹŠ,;2ĹŠ"#ĹŠÄˆÄ‡ĹŠ,(+ĹŠ 4-(" "#2ĹŠ"#ĹŠ24ĹŠ;+ 4,ĹŠÄĽ .1ĹŠ ,.1ÄŚÄ“
( ,.# /' , Ĺ‹ (Ĺ‹ - ,0# ), -Ĺ‹*Ă„ &# )-
ăĀĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ć
-31#ĹŠ'.8ĹŠ8ĹŠ,  - ĹŠ2#ĹŠ' 1;ĹŠ4- ĹŠ1#4-(¢-ĹŠ "#ĹŠ+ ĹŠ .-$#"#1 !(¢-ĹŠ !(.- +ĹŠ"#ĹŠ #15(".Äą 1#2ĹŠ ĂŒ +(!.2ĹŠĹŠ"#+ĹŠ !4 ".1Ä“ KdW \kdY_edWh_W Z[ bW :_h[YY_ÂŒd Fhel_dY_Wb Z[ IWbkZ Z[ ;ic[hWb# ZWi" gk[ f_Z_ÂŒ ec_j_h ik decXh[" iWb_ÂŒ [ifWdjWZW Z[ ik eĂ’ Y_dW [b l_[hd[i ‘bj_ce Wb YedeY[h Z[ bei Z[if_Zei [d cWiW gk[ [ij| Wfb_# YWdZe [b =eX_[hde DWY_edWb W jhWlƒi Z[b C_d_ij[h_e Z[ H[bWY_e# d[i BWXehWb[i$ :_`e" gk[ ^eo bkd[i" _h| Wb jhW# XW`e Yed [b YehWpÂŒd [d bW cWde" fehgk[ j[c[ i[h kdW Z[ bWi dej_# Ă’ YWZWi Z[ ik Z[if_Ze" feh be gk[ i[ [dYec[dZÂŒ W :_ei fWhW gk[ Wgk[bbe de ikY[ZW$ KdW [cfb[WZW Z[if[Z_ZW Z[ decXh[ Bk_iW D" i[ fh[]kdjWXW Æ:_ei c‡e gk[ [i be gk[ [ij| fW# iWdZe [d [b fW‡i" Wb Fh[i_Z[dj[ i[ b[ fWiÂŒ bW cWde" [ije [i _d# YedY[X_Xb[Ç$ +#% +ĹŠ#ĹŠ(-!.-23(34!(.- + FWhW [b i[Yh[jWh_e ][d[hWb Z[ bW 9ed\[Z[hWY_ÂŒd DWY_edWb Z[ I[h# l_Zeh[i F‘Xb_Yei Z[b ;YkWZeh gk[ W]hkfW W jeZei bei [cfb[WZei Z[ bei c_d_ij[h_ei Z[b ;ijWZe" >ƒYjeh J[h|d 7]k_hh[" [iW i_jkWY_ÂŒd [i _b[# ]Wb [ _dYedij_jkY_edWb$
;nfh[iŒ" gk[ ƒb \k[ WiWcXb[‡i# jW YkWdZe i[ [bWXehŒ bW 9edij_jk#
3.2 Ĺ—ĹŠĹŠ -ĹŠ#+ĹŠ #%(231.ĹŠ ÄƒĹŠ!( +ĹŠÄŒÄ‘Ä’Ä”ĹŠ"#+ĹŠÄˆÄ‰ĹŠ "#ĹŠ)4+(.ĹŠ"#ĹŠÄ‰Ä‡ÄˆÄˆĹŠ2#ĹŠ/4 +(!¢Ŋ#+ĹŠ #Äą
!1#3.ĹŠ )#!43(5.ĹŠÄ‘ÄˆÄŠĹŠ04#ĹŠ. +(% ĹŠ ĹŠ+ 2ĹŠ 1#-4-!( 2ĹŠ5.+4-3 1( 2ĔŊ2(-ĹŠ#, 1%.ĔŊ 2#ĹŠ!4#23(.- ĹŠ04#ĹŠ2#ĹŠ /+(04#ĹŠ/.1ĹŠ2#1ĹŠ (-$#1(.1ĹŠ ĹŠ+ 2ĹŠ #8#2ĹŠ8ĹŠ+ ĹŠ .-23(34!(¢-ĹŠ 04#ĹŠ% 1 -3(9 ĹŠ+ ĹŠ#23 (+(" "ĹŠ+ .1 +Ä“
Y_ÂŒd [d Cedj[Yh_ij_ o [ijkle [d bW c[iW Z[ Wd|b_i_i Z[ bW B[o Z[b i[Yjeh f‘Xb_Ye$ Æ;ij[ WYje [ij| Wb cWh][d Z[ bW 9edij_jkY_ÂŒd1 [b Z[h[Y^e Wb jhWXW`e o W bW [ijWX_b_ZWZ bWXehWb [ij|d YediW]hWZei [d [b Whj‡Yk# be )(+ Z[ bW 9edij_jkY_ÂŒd o [d [b ((/ i[ ^WXbW Z[ bW [ijWX_b_ZWZ Z[ bei i[hl_Zeh[i f‘Xb_YeiÇ Z_`e [b Z_h_][dj[$ #!1#3.ĹŠ52ĹŠ .-23(34!(¢-
J[h|d 7]k_hh[" [nfb_YŒ gk[ de fk[Z[ i[h fei_Xb[ gk[ kd :[# Yh[je e h[]bWc[dje h[XWi[ bW dehcW Yedij_jkY_edWb o [b b_j[# hWb A Z[b Whj‡Ykbe *- Z[ bW B[o Eh]|d_YW Z[b I[hl_Y_e F‘Xb_Ye gk[ Z_Y[ gk[ bWi h[dkdY_Wi ied lebkdjWh_Wi$
ēŊ 1 ĹŠ#23 ĹŠ2#, - ĹŠ2#ĹŠ3., 1~ -ĹŠ !!(.-#2ĹŠ1 "(! +#2ĹŠ/.1ĹŠ/ 13#ĹŠ"#ĹŠ+.2ĹŠ2#15(".1#2ĹŠ/ĂŒ +(!.2ĹŠ04#ĹŠ' -ĹŠ2(".ĹŠ"#2Äą /#"(".2Ä“
Æ;ijW i_jkWY_ÂŒd [i kd Z[i# f_Ze _dj[cf[ij_lei Yed h[ck# d[hWY_ÂŒd" i[]khWc[dj[ Yed [b |d_ce Z[ YebeYWh W ][dj[ Z[ 7b_WdpW FW‡i" be YkWb Z[iZ[ jeZe
Ä’ Ĺ‹-/-* ( (Ĺ‹ *),ŋŋ '#(#-., ,Ĺ‹ $/-.# # Ä“ ;b `k[p J[cfehWb Ă„IkijWdY_WZeh I[]kdZe Z[ =WhWdj‡Wi F[dWb[i Z[ ;ic[hWbZWi" EimWbZe =k[lW# hW Ceh_bbe" \k[ ikif[dZ_Ze feh [b 9edi[`e DWY_edWb Z[ bW @kZ_YW# jkhW feh h[iebl[h kdW WYY_ÂŒd Z[ fhej[YY_ÂŒd W \Wleh Z[ bei jhWXW`W# Zeh[i Z[ F[jhe[YkWZeh [d [b YWie =Wif[jiW$ ;ijW _d\ehcWY_ÂŒd \k[ fhefeh# Y_edWZW feh [b fhef_e @k[p" gk_[d Z_Y[ gk[ ik ikif[di_ÂŒd eX[Z[Y[ feh WZc_d_ijhWh `kij_Y_W$ H[\_h_ÂŒ" gk[ bW dej_\_YWY_ÂŒd Z[ ikif[di_ÂŒd feh /& Z‡Wi Yed ik[bZe \k[ Yeckd_YWZW [b l_[h# d[i (. Z[ eYjkXh[ W bWi '-0&& [d ik Zec_Y_b_e" f[he ^ehWi Wdj[i ēŊ +ĹŠ)4#9ĹŠ3#,/.1 +ĹŠ 423 -!( ".1ĹŠ$4#ĹŠ242/#-"(".ĹŠ/.1ŊĒćŊ"~ 2ĹŠ/.1ĹŠ#+ĹŠ ^WX‡W h[ik[bje Z[ij_jk_h Wb =[# .-2#).ĹŠ !(.- +ĹŠ"#ĹŠ+ ĹŠ 4"(! 341 Ä“ h[dj[ =[d[hWb Z[ F[jhe[YkWZeh 7hj‡Ykbe ((" Dkc[hWb + be _cf_Z[$ i_ÂŒd" [nfh[iÂŒ gk[ Z_Y^W i[dj[d# CWhYe 9Wblef_‹W L[]W$ H[YehZÂŒ" gk[ Z_Y^e Whj‡Ykbe Y_W \k[ `kijW o YkWbgk_[h @k[p gk[ [i YbWhe [d i[‹WbWh gk[ de i[ fe# i[fW Wb]e Z[ B[o[i ^WXh‡W WYjkW# (-ĹŠ1#(-3#%1. ;b @k[p =k[lWhW Ceh_bbe" Z_`e gk[ Zh|d Z_YjWh WYjei kbj[h_eh[i gk[ Ze Z[ bW c_icW cWd[hW$ 7Z[c|i Z[b `k[p =k[lWhW ^W]Wd be gk[ ^W]Wd [b [n][h[dj[ W\[Yj[d [b \Wbbe Z[b `k[p XW`e bWi Ceh_bbe" jWcX_ƒd \k[ ikif[dZ_Ze Z[ ;F F[jhe[YkWZeh de fk[Z[ i[h c_icWi fh[l[dY_ed[i$ H[Ă’ h_ƒdZei[" Wb j[cW Z[ bei [b @k[p I[]kdZe Z[ =WhWdj‡Wi F[# h[_dj[]hWZe Wb YWh]e" fehgk[ bW fhef_W B[o Z[ =WhWdj‡Wi @kh_iZ_Y# jhWXW`WZeh[i Z[ =Wif[jiW gk[ \k[ dWb[i @kWd H_l[hW Gk_‹Œd[p" feh Y_edWb[i o 9edjheb 9edij_jkY_edWb kde Z[ bei cej_lei Z[ ik ikif[d# [b c_ice YWie$
fkdje Z[ l_ijW de i[ fk[Z[ f[h# c_j_hÇ [nfh[iÂŒ [b :_h_][dj[$ :_`e" gk[ [b c_d_ijhe Z[ H[bW# Y_ed[i BWXehWb[i" H_Y^WhZ ;if_# deiW i[ ^WX‡W Yecfhec[j_Ze Yed
bei Z_h_][dj[i Z[b i[Yjeh f‘Xb_Ye fWhW [cf[pWh W [`[YkjWh [b fbWd Z[ h[YWb_Ă’ YWY_ÂŒd Z[ fk[ijei f[he [d l[p Z[ [ie i[ _d_Y_ÂŒ [b fheY[ie Z[ Z[if_Ze$
#/ ()Ĺ‹-)&# #. Ĺ‹&# ,. D[bied 7blWhWZe FehjeYWhh[he" kd Y_kZWZWde [ic[hWbZ[‹e gk[ [ij| ^WY[ kdW i[cWdW fh[ie [d bW Y|hY[b Z[ YedjhWl[djeh[i" [ij| ieb_Y_jWdZe W bW @k[pW Z[ bW D_# ‹[p o 7Zeb[iY[dY_W ik b_X[hjWZ fWhW Ykcfb_h Yed iki Yecfhe# c_iei Z[ fW]e Z[ f[di_ed[i$ 7blWhWZe FehjheYWhh[he" [n# fh[iÂŒ gk[ f[i[ W gk[ ^W fW]WZe c|i Z[ be Z[X[ [ij| Z_ifk[ije W bb[]Wh W kd WYk[hZe Z[ fW]e Yed bW @k[pW o Yed ik [n[ifeiW$ ÆOe b[ ^[ [ijWZe cWdZWdZe W c_ [nYedl_l_[dj[ [djh[ '(& W (&& ZÂŒbWh[i c[dikWb[i" j[d]e bei h[Y_Xei" jWb[i h[Y_Xei bW @k[# pW Z_Y[ gk[ ied \Wbiei" YeiW gk[ de Yehh[ifedZ[ W bW h[Wb_ZWZÇ Z_`e 7blWhWZe FehjeYWhh[he$
41 ,#-3 ".ĹŠ#2ĹŠ$ +2. ;b Z[dkdY_Wdj[ Z_Y[ gk[ ik [n[i# feiW AWj^o =Wl_b|d[p L[bWiYe ^W `khWc[djWZe Wdj[ [b @k[p de iW# X[h Z[ ik fWhWZ[he" be YkWb [i \Wb# ie fehgk[ i_[cfh[ [ijkl_[hed [d YedjWYje feh j[bƒ\ede o bei h[Y_Xei Z[ YeXhe Z[ bWi W][dY_Wi ZedZ[ i[ h[j_hW Z_d[he Wi‡ be _dZ_YWd$
Yece ]WhWdj‡W kd j[hh[de" f[he Wb]k_[d b[ Z_`e W [bbW gk[ oe j[# d‡W *&$&&& ZÂŒbWh[i o ) YWiWi [d c_ feZ[h feh [ie gk_[h[ gk[ b[ [djh[]k[ kd YWhhe W YWcX_e Z[ b_X[hjWZ" YeiW gk[ [i _dWkZ_jWÇ h[Ă’ [h[$ 9ec[djÂŒ" gk[ bW b_gk_ZWY_ÂŒd gk[ ^WY[ ik [nck`[h o gk[ j_[d[ gk[ fW]Wh [i Z[ *$*&& ZÂŒbWh[i" f[he [d jeZei bei h[Y_Xei gk[ ^W [dl_WZe ikcWd ,$.&& ZÂŒbWh[i" be gk[ gk_[h[ Z[Y_h gk[ ^W fW]W# Ze c|i Z[ bW Yk[djW$ .ĹŠ/4#"#ĹŠ2 +(1ĹŠ"#+ĹŠ/ ~2 7blWhWZe FehjheYWhh[he" de ^W feZ_Ze iWb_h Z[b fW‡i" fehgk[ j[# d‡W Xeb[jW Z[ YWfjkhW [ _cf[Z_# c[dje Z[ iWb_ZW W ejhe fW‡i" feh be gk[ f_Z[ W bei `k[Y[i i[di_X_b_# pWhi[ fWhW feZ[h Z[\[dZ[hi[ [d b_X[hjWZ$
ÆI_ oe j[d]e fhk[XWi YkWb [i [b cej_le gk[ de c[ gk_[h[d ZWh c_ b_X[hjWZ" oe ^[ f[hZ_Ze c_ jhWXW`e o fei_Xb[c[dj[ c_ fWiW`[ Z[ h[]h[ie" [ijeo Z_i# fk[ije W fW]Wh bei * c_b ZÂŒbWh[i f[he c_ [nck`[h i[ d_[]W W h[Y_# ÆB[ ^[ [ijWZe fed_[dZe X_hbeiÇ h[Ă’ [h[$
Ŋ Ŋ ŊľŊ Ŋ Ŋ
§ ć 0%!),+ 0%!),+ (! 01. (! 01. Ä Ä†Ĺ?)%*Ä‹ Ä Ä†Ĺ?)%*Ä‹
Ĺ?ÄƒÄ Ĺ?Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?Ä ÄƒĹ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ? ÄŒĹ?
Ĺ? +. Ĺ?
(-ĹŠ
Ŋ"#,.!1 Ĺ "#,.!1 !( ĔŊ !( Ŋ#7(%#Ŋ04#Ŋ + Ŋ+( #13 "Ŋ#2Ŋ +.2Ŋ"#1#!'.2Ŋ 4- Ŋ04(,#1 Ģē /.+~3(!.2Ŋ8Ŋ"#Ŋ+ 2Ŋ Ŋ Ŋ ,(-.1~ 2Ŋ 2#Ŋ1#2%4 1"#-ĢēŊ Ŋ
(23(-%4(1
7i_ij‡ Yece eXi[hlWZeh W bW 7kZ_[dY_W Wdj[ bW 9ec_i_ÂŒd ?dj[hWc[h_YWdW Z[ :[h[Y^ei >kcWdei [b (+ Z[ eYjkXh[ [d MWi^_d]jed$ 7 bW 7kZ_[dY_W YedYkhh_[hed h[fh[i[djWdj[i Z[b ]h[c_e Z[ f[h_eZ_ijWi Z[b ;YkW# Zeh" gk_[d[i WfehjWhed fhk[XWi W bWi Z[dkdY_Wi gk[ feh f[hi[# YkY_ÂŒd o h[ijh_YY_ÂŒd W bW b_X[hjWZ Z[ fh[diW ^Wd fh[i[djWZe Wdj[ [iW _dijWdY_W$ ;d h[fh[i[djWY_ÂŒd Z[b =eX_[hde" bW dejW Z_iYehZWd# j[ \k[ bW WYjkWY_ÂŒd Z[b 9WdY_bb[h$ ;ij[ \kdY_edWh_e" gk[ eij[djW [b c|i Wbje hWd]e Z_fbec|j_Ye" Yec[dpÂŒ feh bb[]Wh jWhZ[ W bW Y_jW" l[ij_Ze [d cWd]Wi Z[ YWc_iW" l_eb[djWdZe [b[c[djW# b[i dehcWi Z[ YedZkYjW YkWdZe i[ WYj‘W [d h[fh[i[djWY_ÂŒd Z[b fW‡i$ ;b 9WdY_bb[h _]dehÂŒ bei j[cWi Z[dkdY_WZei o i[ h[Ă’ h_ÂŒ W bW XWdYeYhWY_W" WYkiWdZe W bei f[h_eZ_ijWi Z[ de YedYkhh_h [djedY[i W bW 9?:> W Z[dkdY_Wh bei cWbei cWd[`ei Z[ bW XWdYW$ Ik _dj[hl[dY_ÂŒd" b[`ei Z[ kdW f_[pW ehWjeh_W" [d Yedj[ijWY_ÂŒd W Z[dkdY_Wi YbWhWi o YWh]WZWi Z[ fhk[XWi" WXkdZÂŒ [d ^[Y^ei de f[hj_d[dj[i Yed [b fheY[ie$ :[X[h‡W [b 9WdY_bb[h Z_ij_d]k_h kd c_j_d feb‡j_Ye o kd Wbje \ehe _dj[hdWY_edWb$ 1!#+ĹŠ ēŊ #1 4" , 1!#+$#1 4"Äž8 '..Ä“!.,
4# +.ĹŠĹŠ#"4! ".
Kd fk[Xbe [ZkYWZe iWX[ [b[]_h Z_h_][dj[i ^ed[ijei o Yecf[j[dj[i o de f[hc_j[ bW YehhkfY_ÂŒd d_ bei _dYecf[j[d# j[i$ Kd fk[Xbe _dYecf[j[dj[ Z[if[hZ_Y_W iki h[Ykhiei o i[ [cfeXh[Y[$ Kd fk[Xbe _]de# hWdj[ [i j[hh[de WXedWZe fWhW bW Z[cW]e]_W o l_l[ Z[ _bki_e# d[i$ Kd fk[Xbe [ZkYWZe iWX[ Z_\[h[dY_Wh kd Z_iYkhie i[h_e Z[ kdW fhƒZ_YW Z[cW]ÂŒ]_YW Z[ Ă’ b|djhefei Yed Z_d[he f‘Xb_Ye [d X[d[Ă’ Y_e fh_lWZe ?;II $ Kd fk[Xbe [ZkYWZe fheif[hW [d YedZ_Y_ed[i WZl[hiWi$ 9kWdZe c|i _]dehWdj[ [i [b fk[Xbe" c|i f[hZkhWd bei feb‡j_Yei o ]eX_[hdei Yehhkfjei$ BW Yehhkf# Y_ÂŒd [ijWh| [d be f‘Xb_Ye o [d be fh_lWZe" fehgk[ [i [b d[]eY_e Z[ bei i_dl[h]”[dpWi$ -4#+ĹŠ .22.ĹŠĹŠ 4,;11 % "1/.22.Äž8 '..Ä“!., ĹŠ ĹŠ ĹŠ Ä– ! 13 2 +"(1#!3.1Äž+ '.1 Ä“!.,Ä“#! 2(++ ĹŠÄˆÄ?ĈÄ?Ä‰ÄŒÄŠĹŠ ĹŠ.ĹŠ!4 +04(#1 ĹŠ "#ĹŠ-4#231 2ĹŠ %#-!( 2Ä“ #04(2(3.2Ä–ĹŠ ., 1#2ĹŠ8ĹŠ /#++(".2ĹŠ!.,/+#3.2Ä—ĹŠ-ĂŒ,#Äą 1.ĹŠ"#ĹŠ _"4+ Ä—ĹŠ3#+_$.-.ĹŠÄ¸ÄƒĹŠ).ĚėŊ"(1#!!(¢-ĹŠ".,(!(+( 1( ĹŠ .ĹŠ"#ĹŠ31 ).ĹŠ8ĹŠ!.11#.ĹŠ#+#!31¢-(!.Ä“
ŋ ŋßúÝß
BW i[cWdW fWiWZW i[ _d\ehcÂŒ gk[ W Wbh[Z[Zeh Z[ ($&&& [cfb[WZei f‘Xb_Yei W d_l[b dWY_edWb i[ b[i YecfhWhed h[dkdY_Wi eXb_]Wjeh_Wi" i[]‘d [b :[Yh[je .') gk[ h[\ehcW [b H[]bWc[dje Z[ bW B[o Z[ I[hl_Y_e F‘Xb_Ye$ Kd c[i Wdj[i i[ _d_Y_ÂŒ bW YecfhW Z[ h[dkdY_Wi [d [b 8WdYe 9[djhWb" bk[]e W cƒZ_Yei Z[b >eif_jWb 8WYW Ehj_p Z[ Gk_je o W [cfb[WZei [b C_d_ij[h_e Z[ :[iWhhebbe KhXWde o Z[ L_l_[dZW$ JWcX_ƒd i[ h[fehjWhed YecfhWi [d Be`W o [d CWdWX‡ o bWi dej_\_YWY_ed[i i[ ^_Y_[hed ^WijW Yed h[i]kWhZe feb_Y_Wb [d Wb]kdWi Z[f[dZ[d# Y_Wi [ijWjWb[i$ Âľ7 gkƒ b[ j[c‡Wd bWi Wkjeh_ZWZ[i gk[ h[fh[i[djWd W bW h[lebkY_ÂŒd Y_kZWZWdW gk[" Z_Y[d" [ijkle [d cWhY^W o gk[ W^ehW [ij| WlWd# pWdZe5 ;b cWb[ijWh [djh[ bei h[dkdY_Wdj[i o bei gk[ iWX[d gk[ ik jkhde [ij| Y[hYW de i[ ^_pe [if[hWh$ ĹŠ ĹŠ :
&)-Ĺ‹ /( #)( ,#)I_d f[h`k_Y_e Z[ gk[ bei Yh_j[h_ei [c_j_Zei [d kd f[h_ÂŒZ_Ye o gk[ de j_[d[d ejhW Ă’ dWb_ZWZ gk[ bW Z[ ^WY[h YedeY[h bWi _hh[]kbWh_# ZWZ[i o Z[iWj_dei gk[ i[ [ij|d Yedl_hj_[dZe [d kdW dehcW [d Wb]kdWi _dij_jkY_ed[i Z[b ;ijW# Ze o gk[ jWcX_ƒd bei c_icei Z_i]kij[d W bei _djeYWXb[i gk[ Wdj[i gk[ h[Ă“ [n_edWh o Z[j[d[h# i[ W f[diWh [d [b cej_le Z[ bei i[‹WbWc_[djei" iki h[WYY_ed[i Z[iXehZWd [d kdW _hW _dYedjhe# bWXb[ gk[ j[hc_dWd [d\[hc|d# Zebei \‡i_YW o [if_h_jkWbc[dj[ o Z[ [ijW cWd[hW" ^WY_ƒdZebei f[hZ[h [Ă’ Y_[dY_W [d [b cWd[`e gk[ b[i Yehh[ifedZ[ [`[hY[h [d bW \kdY_ÂŒd gk[ h[Y_X_[hed$ I[h‡W [nY[b[dj[ gk[ YkWdZe kij[Z bb[]W
Bei h[fh[i[djWdj[i Z[ bei jhWXW`WZeh[i Z[b i[Yjeh f‘Xb_Ye fh[i[djWhed kdW Z[cWdZW Z[ _dYedij_jkY_edWb_ZWZ [d bW 9ehj[ 9edij_jkY_edWb" gk[ W‘d [ij| [d fheY[ie$ O" WZ[c|i" i[ Wfh[ijWd W jecWh c[Z_ZWi Z[ h[ifk[ijW" W bWi gk[ bW Kd_Œd DWY_edWb Z[ JhWXW`WZeh[i Z[YbWhŒ gk[ i[ kd_h‡W efehjkdWc[dj[$ ;i fWhWZŒ`_Ye gk[ [ije eYkhhW [d j_[cfei [d bei gk[ gk_[d[i ]eX_[hdWd i[ WkjefheYbWcWd f[hj[d[Y_[dj[i W bW _pgk_[hZW$ 9ed kdW ZeXb[ cehWb i[ [`[YkjWd [ijWi h[dkd# Y_Wi eXb_]Wjeh_Wi0 feh kd bWZe [d iki Z_iYkhiei i[ k\WdWd bei ]eX[hdWdj[i Z[ i[h fehjWZeh[i Z[ kd ]hWd ^kcWd_ice o feh [b ejhe WYj‘Wd Yece [b f[eh Z[ bei ]eX_[hdei d[eb_X[hWb[i$ Kd ZeXb[ cehWb gk[ fh[j[dZ[ eYkbjWh [b ^[Y^e Z[ gk[" Wdj[ [b W‹e [b[YjehWb gk[ i[ Wfhen_cW" i[ d[Y[# i_jWd c|i lWYWdj[i fWhW bb[dWhbWi Yed gk_[d[i [ij|d Z_ifk[ijei W lejWh feh [b Yehh[‡ice$
W kdW eĂ’ Y_dW f‘Xb_YW [d XkiYW Z[ eh_[djWY_ÂŒd fWhW Ykcfb_h Wb]kdW [n_][dY_W Z[ bW B[o" gk_[d[i Yec# fWhj[d bei [iYh_jeh_ei Z[ kdW eĂ’ # Y_dW" kdW l[djWd_bbW [d kd XWdYe feh [`[cfbe e gk_[h[ WbYWdpWh bW ]hWY_W Z[ gk[ bW Wkjeh_ZWZ c|n_cW be h[Y_XW" gk_[d[i [ij|d [d cWdZei c[Z_ei Z[X[d o de Z[X[h‡Wd h[Y_X_h Wb l_i_jWdj[ Yed Wceh o ][dj_b[pW fWhW gk[ bW f[h# iedW i[ i_[djW W ]kije Yed [b jhWje o fk[ZW Z[ [ijW \ehcW [nfed[h ik fheXb[cW$ F[he be gk[ ikY[Z[ [i gk[ ki# j[Z bb[]W o ckY^ei \kdY_edWh_ei d_ i_gk_[hW feh bW c|i [b[c[djWb dehcW Z[ [ZkYWY_ÂŒd Yedj[ijWd [b iWbkZe o iki _dj[hhe]Wdj[i ied h[ifedZ_ZWi [d cedei‡bWXei Yed kdW Z_ifb_Y[dY_W gk[ [d\[hcW o gk_jW [b Z[i[e Z[ lebl[h dkdYW c|i feh [iei j[hh_jeh_ei gk[ [i# j|d c_dWZei feh bW _dYecfh[d# i_ÂŒd o \WbjW Z[ Yedi_Z[hWY_ÂŒd o h[if[je W gk_[d[i Yed Z[h[Y^e de c[dZ_]Wd i_de gk[ [n_][d Wj[d# Y_ÂŒd gk[ bb[]W W c[Z_Wi Yece i_ \kƒhWcei ^WX_jWdj[i Z[ ejhWi ]WbWn_Wi$
>[ jeYWZe [ij[ j[cW fehgk[ W Z_Wh_e [n_ij[d gk[`Wi Z[ Y_kZW# ZWdei gk[ feh d[Y[i_ZWZ Z[X[d bb[]Wh W bWi eĂ’ Y_dWi Z[ Y_[hjWi _dij_jkY_ed[i o be gk[ i[ [dYk[d# jhWd [i Yed kdW YWZ[dW Z[ h[iW# X_ei Yece i_ bei YWh]ei b[i gk[# ZWhWd ]hWdZ[i o de [dj_[dZ[d d_ ^Wd gk[h_Ze [dj[dZ[h dkdYW gk[ [bbei ied jhWdi_jeh_ei fehgk[ [d bW dWjkhWb[pW jeZe [ij| ckjWd# Ze$ I[h‡W Xk[de gk[ c_ ceZ[ije Yh_j[h_e \k[hW b[‡Ze feh gk_[d[i Ykcfb[d bW \kdY_ÂŒd Z[ [cfb[W# Zei o YWcX_[d Z[ WYj_jkZ fWhW gk[ de Ă“ ej[ [d ik h[i_Z[dY_W Z[ jhWXW`e kd h[Y^Wpe Z[b f‘Xb_Ye gk[ de bei XkiYW feh i_cf|j_Yei i_de feh bW \kdY_ÂŒd gk[ Z[i[cf[# ‹Wd o feh [ie h[Y_X[d kd ik[bZe$ <_dWbc[dj[" [d [ijW b‡d[W Z[ `k_Y_ei Ye^[h[dj[i feZ[cei bb[]Wh W c[`ehWh dk[ijhW fhel_dY_W o kd fW‡i gk[ j_[d[ decXh[ o gk[ de [i j_[hhW Z[ dWZ_[ Yece ckY^ei [nfh[iWd o WZ[c|i" gk[ ]hWl[d [d ik YedY_[dY_W gk[ W bWi f[hie# dWi ^Wo gk[ jhWjWhbWi Yece i[h[i ^kcWdei o ZWhb[i YedĂ’ WdpW gk[ ][d[h[d [b h[if[je ckjke$
ĹŠ ĹŠ ĹŠ
&Ĺ‹- &0 $#-') JeZei bei ^kcWdei bb[lWcei [i# YedZ_Zei [djh[ dk[ijhei ][d[i" Wb]kdei h[Y[i_lei gk[ dei Yed# l_[hj[d [d iWblW`[i" YkWdZe bW eYWi_ÂŒd [i fhef_Y_W$ BWi ]k[hhWi" [b eZ_e" bW l[d]WdpW" ied [djh[ ejhWi" [iWi eYWi_ed[i$ 7kdgk[ Wb]kdWi c[dj[i Yh_c_dWb[i de d[Y[i_jWd hWpÂŒd Wb]kdW fWhW [i[ fheY[Z[h$ F[eh[i ied bei WYjei ZedZ[ bWi jkhXWi i[ Wl_lWd [djh[ i‡ Z|dZei[ \k[hpW o |d_ce fWhW fheY[Z[h Yed l_eb[dY_W" i_d d_ kdW iebW YkejW Z[ hWY_eY_d_e" [nY[fje bW Z[ gk[ ^Wo gk[ WYWXWh Yed [b YedjhWh_e" W Yece Zƒ bk]Wh" _dYbkie iebWp|d# Zei[ Yed WYjei Z[ iWZ_ice gk[ Z[iZ_Y[d Z[ bW YedZ_Y_ÂŒd Z[b i[h ^kcWde WYjkWb" ikfk[ijWc[dj[ [lebkY_edWZe Yece d_d]‘d ejhe i[h l_le$ 7bb‡ [ij|d ^[Y^ei Z[ dk[ijhW ^_ijeh_W$ Kd ]hkf‘iYkbe Z[ i[# Z_Y_eiei Wi[i_dÂŒ Wb Fh[i_Z[dj[ =WhY‡W Ceh[de" W cWY^[jWpei o XWbW$ 9_[hje gk[ ƒb Yec[j_ÂŒ WYjei Z_YjWjeh_Wb[i h[‹_Zei Yed bW b[o [ _dYbkie Yed bW ^kcWd_ZWZ Z[ bW gk[ Z[X‡W [ijWh fhel_ije ik YehW# pÂŒd YWjÂŒb_Ye$ F[he [i _dd[]WXb[ ik eXhW X[dÂƒĂ’ YW [d fei Z[b fhe]h[# ie dWY_edWb$ :[ bei ^[Y^eh[i" Wb]kdei \k[# hed kbj_cWZei o ejhei \k]Whed$ ?]kWb" Wb l_[`e BkY^WZeh ;beo 7b\Whe" iki [d[c_]ei feb‡j_Yei b[ \eh`Whed kdW jhWceoW i_d_[ijhW" gk[ Z[i[cXeYÂŒ [d [b l_b kbjhW`[ Yec[j_Ze [d ik YedjhW o [d bW Z[ lWh_ei Z[ iki YebWXehWZeh[i c|i b[Wb[i [ ‡dj_cei$ KdW jkhXW Z[i# [d\h[dWZW Wb_c[djWZW feh Y_[hjei YkhWi o feh YWX[Y_bbWi fefkbWh[i Z[ bW f[eh [if[Y_[" iWYh_Ă’ YWhed Wb ^ƒhe[ b_X[hWb" Z[ijhko[dZe ik YW# Z|l[h [ _dY_d[h|dZeb[" bk[]e Z[ WhhWijhWhbe Z[idkZe o iWd]hWdj[ feh bWi YWbb[i Z[ Gk_je$ DWZ_[ \k[ jecWZe fh[ie o f[eh `kp]WZe$ B[ jeYÂŒ [b jkhde W =WZWĂ’ $ Bk# Y^ÂŒ Yed iki i[]k_Zeh[i o ik [`ƒh# Y_je b[Wb YedjhW h[lebkY_edWh_ei WfeoWZei feh bWi \k[hpWi WhcW# ZWi c|i feZ[heiWi Z[ bW j_[hhW$ Cko Y_[hje gk[ Yec[j_ÂŒ Z[iW\k[# hei" i[ [djhed_pÂŒ [d [b feZ[h i_d ZWh YWX_ZW W d_d]‘d j_fe Z[ efe# i_Y_ÂŒd o de c[`ehÂŒ cWoehc[dj[ [b d_l[b [YedÂŒc_Ye Z[ iki i‘XZ_# jei W f[iWh Z[ bWi _d][dj[i ikcWi fheZkY_ZWi feh ik f[jhÂŒb[e$ $ #1.,#ĉćĈćĞ8 '..Ä“#2
1#2("#-3#ĹŠ !(.- + ĹŠ ĹŠ } (1#!3.1 ĹŠ ")4-3
ĹŠ ÂĄ ĹŠ (1#!3.1 ĹŠĹŠ #%(.- + } ĹŠ ĹŠ ÂĄ ĹŠ ĹŠ ĹŠ ĹŠ ÂĄ ĹŠ "(3.1ĹŠ #%(.- + ĹŠ ĹŠ ^ "(3.1( +ĹŠ (-.3 41.ĹŠ Ä“ Ä“ (1#!!(¢-Ä–ĹŠ .+~5 1ĹŠ8ĹŠ .! $4#13#ĹŠ#204(- ĹŠÄ¸ÄŒ3.ēŊ/(2.Äš #+_$.-.2ĖŊĉÄ?ĉŊđÄ?ŊŊććŊŊŊŊĉÄ?ĉŊđÄ?Ŋćĉ , (+Ä–ĹŠ#2,#1 +" 2Äž+ '.1 Ä“!.,Ä“#!  .Ä–ĹŠ ĹŠ .ēŊÄ?ēććĉ
666ē+ '.1 ē!.,ē#! 2Ŋ3 Ŋ2#!Ŋ!(¢-Ŋ1#Ŋ/1#Ŋ2#-Ŋ3 Ŋ+ Ŋ./(Ŋ-(¢-Ŋ"#Ŋ+.2Ŋ#"(Ŋ3.Ŋ1#2ēŊ .2Ŋ#2Ŋ!1(Ŋ3.2Ŋ"#Ŋ+.2Ŋ !.Ŋ+ Ŋ .Ŋ1 Ŋ".Ŋ1#2Ŋ2.Ŋ+.Ŋ!.,Ŋ/1.Ŋ,#Ŋ3#-Ŋ Ŋ242Ŋ 4Ŋ3.Ŋ1#2Ŋ8Ŋ-.Ŋ1#ŊĄŊ#Ŋ) -Ŋ -#Ŋ!#Ŋ2 Ŋ1( Ŋ,#-Ŋ3#Ŋ#+Ŋ/#-Ŋ2 Ŋ,(#-Ŋ3.Ŋ"#+Ŋ/#Ŋ1(¢Ŋ"(Ŋ!.ē
ŏăāŏ ŏ ŏŏ ŏĂĀāā
ŏ +. ŏ
-(**/%hW
Ĉ
ĉ
ăāŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
+#% -3#2ũ#-!4#-31.2ũ2.!( +#2ũ &ŋðŋ(ŋ ŋ- ' ( ŋ -./0)ŋ&& ()ŋ ŋŋ )'*,)'#-)-ŋ-) # & -ŋ3ŋ&)-ŋ#(0#. )-ŋŋ / # ,)(ŋŋ & ! (. -ŋ* , ŋ #- ,/. ,ŋ (., ŋ '#!)-ŋ3ŋ '#&# , -Ąŋ )-ŋ -#-. (. -ŋ !/-. ,)(ŋ ŋ/( ŋ0 ,# ŋ ŋ * ,#.#0)-ąŋ')' (.)ŋ+/ ŋ / ŋ, !#-., )ŋ*),ŋ(/ -., ŋ 6' , Ą
-~ +ũ (-#+ Ĕũ 1( #+ũ #1-;-"#9Ĕũ (28ũ +!.-~ũ8ũ ' 1(3.ũ .+%4~-ēũ
. #13.ũ ¢/#9Ĕũ 5#+8-ũ 1#+ ũ8ũ 1,#-ũ ;-!'#9ēũ
,#+" ũ 9 1#-.ũ8ũ 1% 1(3 ũ '.1ēũ
1(-.ũ 1 ,(++.Ĕũ 1(#+ ũ 4( ¢-#9ũ8ũ 4+(ũ +,#- ũ"#ũ -"(-.ēũ
(!3.1( -.ũ 11 -9 ũ8ũ +#- ũ 1!#ēũ -(**.%a]
(%4#+ũ 4-!#2ũ8ũ .1%#ũ #(5 ēũ -(*&)%hW
4 -ũ .1) ũ#ũ}3 +.ũ ."1~%4#9Ĕũ2.-1~#-ũ / 1 ũ+ ũ!;, 1 ēũ
ƒ Ä
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
Ĺ?ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
# # ! " ) " '! "! % ) $( " "%&
. " ! !& $
) ' .! ) "!&$" " $ $ "
$ ! % "% "!&$"
, ! !%'$ ) '&" !%'$ "$ * #'! " "!"& +& "!&$" $" %" $ &"$ ) &"$
% -
) ) '$ ' !
"!% " "!
&"$
! ) ! ' . # $&
'! .! % & (
'%& #
"0 !" "&" )'.(% %)(",
3#%'"( !" ( %)(", '%&&)(", "/"+,%5( !" +" ."( % ,
"(,.+ 0 .-) "(,.+
$&- ' "% )
.&- , & , &- , "/", $ ,-
+ /", $ ,-
.0 #+ /", $ ,- 2 + /4,%' , +"/) -)+%
$&- ' "
5 !
%#)
+%/%&"#%), & , '*+", , 6 &% ,
&
)( ",%5( "()/ %5( "/"+,%5( !" +" ."( % , #
$&- ' "% )
" (
,*" -+) + !%)"&3 -+% ) +' *)&4-%
.!% % &%1 ( &), "&%-), !" *%(%5( +-4 .&)
+)-"#"( &), .( %)( +%), 6 &% ), "( ",*" % & & +",%!"(-" +-4 .&)
(- ,' , !"& "!% %5( 0 " "&%5( "&%-), * + %/%&", +-4 .&), 0 #
",*)(, %&%! ! ) !0./ (-" !"& '"!%) +-4 .&)
.!% % &%1 ( & +)-",- ) % & -"(- ( )(-+ "+" $) ",%,-"( % +-4 .&)
ēŊ 1 Ŋ5 1(.2Ŋ2#!3.1#2Ŋ"#Ŋ+ Ŋ -! " Ŋ"#Ŋ . (#1-.ĔŊ+ Ŋ/1(.1(" "Ŋ !34 +Ŋ#2Ŋ+ Ŋ+#8Ŋ"#Ŋ #+#!.,4-(! !(.-#2ēŊ
Ĺ‹)*)-# #š(Ĺ‹. ' Ĺ‹ /(ŋĒ , )Ĺ‹ & .), &ēŋ - ĹŠÄĽ.+ ÄŚĹŠ"#ĹŠ+#8#2ĹŠ/1.,4+% " 2ĹŠ/.1ĹŠ#+ĹŠ .ă!( +(2,.ĹŠ#-ĹŠ#23.2ĹŠ,#2#2ĹŠ!.-Ä„48#-ĔŊ 2#%ĂŒ-ĹŠ#++.2ĔŊ#-ĹŠ4-ĹŠ!#1!.ēŊ
BW Z[Y_i_ÂŒd Z[b ;`[Ykj_le Z[ _d# lWZWiÇ" W]h[]ÂŒ$ Ybk_h Y_[hjei WfWhjWZei Z[b fhe# o[Yje Z[ B[o Z[ 9eckd_YWY_ÂŒd" ;2ĹŠ#)#,/+.2 [d bW B[o 7dj_cedefeb_e" [d bW ;d [b 9ÂŒZ_]e F[dWb _dYbko[hed B[o F[dWb" o [d bW Z[ J[b[Yeck# bW `kZ_Y_Wb_pWY_ÂŒd Z[ bei Z[b_jei d_YWY_ed[i fheleYW ZkZWi [d kd Z[ ef_d_ÂŒd" Z[ bW fhej[ijW ieY_Wb i[Yjeh Z[ bW efei_Y_ÂŒd [d o fhej[][d W bei \kdY_e# bW 7iWcXb[W" gk[ eXi[hlW ĹŠ dWh_ei f‘Xb_Yei" [if[Y_Wb# kdW [ijhWj[]_W Z[b =eX_[h# c[dj[ Wb Fh[i_Z[dj[ Z[ bW H[f‘Xb_YW" Z[ [l[djkWb[i de fWhW Yedieb_ZWh kd fe# WjWgk[i l[hXWb[i" i[]‘d Z[h Ƒd_Ye [ _dZ_l_i_Xb[Ç #2"#ĹŠ %.23.ĔŊ+ ĹŠ , 8.1~ ĹŠ"#ĹŠ+ 2ĹŠ \h[dj[ W bWi [b[YY_ed[i Z[ +#8#2ĹŠ31 3 " 2ĹŠ#-ĹŠ [b efei_jeh$ + ĹŠ 2 , +# ĹŠ' -ĹŠ C_[djhWi gk[" [d J[# (&')$ 2(".ĹŠ1#,(3(" 2ĹŠ BW h[\b[n_ÂŒd bW ^_pe" /.1ĹŠ#+ĹŠ )#!43(5.ēŊ b[Yeckd_YWY_ed[i" _dYeh# _d_Y_Wbc[dj[" [b b[]_ibWZeh fehWd jeZe kd hƒ]_c[d <Wkije 9eXe FIF o Wi[# Z[ YedY[i_ÂŒd o h[l[hi_ÂŒd ]khÂŒ gk[ [b hƒ]_c[d Wif_hW W Z[ \h[Yk[dY_Wi o iWdY_ed[i h[# Yedieb_ZWh [b ÆYedjheb" [if[Y_Wb# fh[i_lWi o [YedÂŒc_YWi W c[Z_ei c[dj[ Z[ Y[dikhW o WkjeY[dikhW" i_ _dYkcfb[d bW B[o$ de iÂŒbe Z[ bei c[Z_ei" i_de Z[ bei 7Z_Y_edWbc[dj[" [d [b 9ÂŒZ_# WYjeh[i feb‡j_YeiÇ" [i [djh[ cWhpe ]e Z[ I[]kh_ZWZ 9_kZWZWdW _d# o WXh_b Z[ (&'(" YkWdZe _d_Y_Wh| Ybko[d bW Æh[fh[i_ÂŒdÇ" c_[djhWi bW [jWfW fh[[b[YjehWb$ gk[ [d bW H[\ehcW Wb 9ÂŒZ_]e Z[ 9eXe ef_dÂŒ gk[ bW h[i_ij[dY_W bW :[ceYhWY_W" gk[ i[ WdWb_pW [d gk[ [b =eX_[hde [d\h[djÂŒ ZkhWd# [b 9edi[`e DWY_edWb ;b[YjehWb j[ [b Z[XWj[ Z[ bW B[o Z[ 9eck# 9D; " i[ j_f_Ă’YWh|d iWdY_ed[i d_YWY_ÂŒd" b[ eXb_]ÂŒ W Æc_dWhÇ bei [b[YjehWb[i o h[fh[i_lWi fWhW Wk# fkdjei c|i i[di_Xb[i Z[ [ij[ jeY[dikhWh o Y[dikhWh W bei WYje# fheo[Yje o fWkbWj_dWc[dj[ bei h[i feb‡j_Yei ZkhWdj[ bW YWcfW# \k[ jhWibWZWdZe$ ‹W$ ÆJeZe [ij[ [igk[cW j_[d[ [b Fh_c[he" W bW B[o 7dj_ce# eX`[j_le Z[ WcehZWpWh W f[h_e# defeb_e" ZedZ[ fhefkie gk[ Z_ijWi o W WYjeh[i feb‡j_Yei fWhW bei fhef_[jWh_ei Z[ bei c[Z_ei gk[ de fk[ZWd [nfh[iWhi[ [d gk[ j[d]Wd [b , e c|i Z[ bWi YWcfW‹W [b[YjehWbÇ" ef_dÂŒ 9eXe$ WYY_ed[i [d kd c[Z_e dWY_e# dWb Z[X[h|d Z[ifh[dZ[hi[ Z[ .(-!("#-!( 2 YkWbgk_[h WYY_ÂŒd gk[ j[d]Wd [d 9ed 9eXe YedYk[hZWd L_Y[dj[ [cfh[iWi Z[ ejhWi WYj_l_ZWZ[i$ JW_Wde Fh_Wd o 8[jjo 7ceh[i Æ9ed [ije be]hWd Z[X_b_jWh W bWi [n F7?I " gk_[d[i W‹WZ_[hed gk[" [cfh[iWi Z[ Yeckd_YWY_ÂŒd fh_# Yed [ijW [ijhWj[]_W" [b =eX_[hde
#% !(¢ŊŊ +Ŋ/1#2("#-3#Ŋ"#+Ŋ ĔŊ , 1Ŋ ŗ (,.-ĔŊ"#2#23(,¢Ŋ+ Ŋ"#-4-!( Ŋ"#Ŋ
423.ĹŠ . .ĹŠ8ĹŠ"().ĹŠ04#ĹŠ-.ĹŠ#-3(#-"#ĹŠ !¢,.ĹŠ/4#"#ĹŠ1#$#1(12#ĹŠĹŠ.ĹŠ! +(ă! 1ĹŠ4-ĹŠĹŠ ".!4,#-3.ĹŠĹŠ04#ĹŠ-.ĹŠ2#ĹŠ!.-.!#Ŋĸ1#Äą ă1(_-".2#ĹŠ ĹŠ+ ĹŠ+#8ĹŠ"#ĹŠ/ 13(!(/ !(¢-ĚēŊŊ ÄĄ .ĹŠ5.8ĹŠ ĹŠ./(- 1ĹŠ2. 1#ĹŠ4-ĹŠ 241Äą ".ĔŊŊ-(ĹŠ"#ĹŠ4- ĹŠ ă1, !(¢-ĹŠ24#+3 ĹŠ"#ĹŠ 4-.2ĹŠ2# .1#2ĹŠ(11#2/.-2 +#2ĢēŊŊĥ ++.2ĹŠ 2.-ĹŠ+.2ĹŠ+#%(2+ ".1#2ĔŊ-.2.31.2ĹŠ/1#Äą 2#-3 1#,.2ĹŠ4-ĹŠ/1.8#!3.ĹŠ"#ĹŠ1#$.1, ĹŠ 8ĹŠ"# #1;-ĹŠ - +(9 1+.ĢĔŊ %1#%¢ē
de gk_[h[ gk[ [b fW‡i i[ [dj[h[ Z[ dWZW c|i gk[ bei c[Z_ei eĂ’# Y_Wb[i Z_]Wd$ Æ;ij[ [i [b [iY[dWh_e _Z[Wb gk[ i[ eh]Wd_pW W jhWlƒi Z[ Z_ij_djei h[iehj[i Yece bW B[o Z[ J[b[Yeckd_YWY_ed[i e bW 7dj_ce# defeb_eÇ" W]h[]ÂŒ JW_Wde$ ă!( +(2,.ĹŠ"#2,(#-3#
7iWcXb[‡ijWi Yece CWho L[hZk# ]W o Ieb[ZWZ L[bW F7?I& d[]W# hed [ijW fei_X_b_ZWZ" f[he [if[# hWd gk[ bW B[o Z[ 9eckd_YWY_ÂŒd i[ Wfhk[X[ Wdj[i Z[b _d_Y_e Z[ bW YWcfW‹W" fWhW gk[ de i[ Z_]W gk[ [i kdW [ijhWj[]_W [b[YjehWb$ Æ;i j[hh_Xb[ gk[ i[ f_[di[ gk[ [b eX`[j_le i[W WfheXWh b[o[i jWd i[di_Xb[i fWhW j[d[h kd Yedjheb WXiebkje e ]WhWdj_pWh kdW l_Yje# h_W [b[YjehWbÇ" W]h[]ÂŒ L[bW$ =WijÂŒd =W]b_WhZe F7?I YWb_# Ă’YÂŒ Z[ Æ[if[YkbWY_ÂŒdÇ bW WĂ’hcW# Y_ÂŒd Z[ 9eXe o d[]ÂŒ ikfk[ijei Y|bYkbei feb‡j_Yei$ ÆBW efei_Y_ÂŒd i_[cfh[ i[ _dl[djW Wb]e" [b fhe# o[Yje feZh‡W WfheXWhi[ [d Z_# Y_[cXh[ o bW fh[YWcfW‹W [cf[# pWh| [d i[fj_[cXh[ k eYjkXh[Ç" WfkdjÂŒ$
.),Ĺ‹-#( # &Ĺ‹ (/( # Ĺ‹' # -Ĺ‹ - Ĺ‹")3 7 bWi '&0&& Z[ ^eo" [b i[Yjeh i_d# WdkdY_ÂŒ C[i‡Wi JWjWck[p" fh[i_# Z_YWb [YkWjeh_Wde i[ h[kd_# Z[dj[ Z[ bW eh]Wd_pWY_ÂŒd$ ÆBW YbWi[ i_dZ_YWb [ij| h| [d bW i[Z[ Z[ bW 9ed\[# kd_ZW" Z[\[dZ[h[cei bei Z[hWY_ÂŒd ;YkWjeh_WdW Z[ ĹŠ Eh]Wd_pWY_ed[i 9bWi_ijWi Z[h[Y^ei Z[ bei jhWXW`W# Kd_jWh_Wi Z[ JhWXW`WZeh[i _"(!.2ĹŠ8ĹŠ#-$#1Äą Zeh[iÇ" i[‹WbÂŒ$ ;b i|XWZe ,#1 2ĹŠ1# +(9 1;-ĹŠ 9[ZeYkj fWhW Z[Ă’d_h bei '.8ĔŊ ĹŠ+ 2ĹŠÄˆÄ?ĖććĔŊ o Wo[h [d bW jWhZ[ JWjW# c[YWd_icei gk[ [cfb[W# 4-ĹŠ/+ -3¢-ĹŠ#-ĹŠ+ ĹŠ ck[p i[ h[kd_ÂŒ Yed Z_h_# + 9 ĹŠ 1 -"#Ä“ h|d [d YedjhW Z[b =eX_[hde ][dj[i i_dZ_YWb[i Z[ ?c# feh [b Z[if_Ze Z[ bei jhWXW# XWXkhW fWhW ÆWdWb_pWh bW `WZeh[i Z[b i[Yjeh f‘Xb_Ye$ 7i‡ be \ehcW YÂŒce \k[hed l_eb[djWZei
bei Z[h[Y^ei Z[ bei jhWXW`WZeh[i" bW [bWXehWY_ÂŒd Z[ kd WcfWhe Yedij_jkY_edWb o bW f[j_Y_ÂŒd Z[ fhej[YY_ÂŒd W eh]Wd_icei _dj[h# dWY_edWb[i Yece bW 9ec_i_ÂŒd ?dj[hWc[h_YWdW Z[ :[h[Y^ei >kcWdei 9?:> o bW Eh]Wd_# pWY_ÂŒd ?dj[hdWY_edWb Z[b JhWXW`e E?J Ç" [nfb_YÂŒ$ ;b i_dZ_YWb_ijW de Z[iYWhjÂŒ cel_b_pWY_ed[i W [i# YWbW dWY_edWb$
ēŊ 2ĹŠ-.3(ă! !(.-#2ĹŠ2#ĹŠ"(#1.-ĹŠ!.-ĹŠ/1#2#-!( ĹŠ/.+(!( +ĹŠ8ĹŠ,(+(3 1ĹŠ#-ĹŠ#+ĹŠ/ ~2ēŊ
#0 Ĺ‹ &Ĺ‹* v-Ĺ‹ (Ĺ‹ &Ĺ‹ ,# )
ƒ Ă
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
! -
# "
0 ()0 )78%(3 :-% )7 &9)23 /1 )0 6)+90%6 /1 < 1%03 )0 /1
$
$! %
( # " #$" - $ # !" # $ # " #
1 $/#' *
$ # ( # " # $ # " # #$" - "$ # - #
!&
"!% "!% - ( # " # # "& "
)$ ,$
)$ 6% -
&$ $
!&"! "
$# # $ +
" $
% "
! () #
!
( # " / $ # "$ # %,$ # # $ # " # #$" -
$" $ "
%
! % ! "! &"
!& ! ! 1!
&$
*!
$ !# '!.
%659) %'-32%0 3(3'%6497 %02)%6-37 )2 6A37 31&97'%63 $%691% )0 .%6(A2 () 0 63
$ !
! "
)$ $!4+ '
4%6%4)28) '%234< %7863231A%
#$!
"
&
"$
$ # #$ # - # # # "$ # '$" # $ #
$
/ !
" % - # % $%" # #$" # #$ # " #
&
!
) $(
!
#&
& #" % (! #&)
!#
#
"
#-7-8% % 6)7)6:%7 2%896%0)7 )'366-(3 436 7-8-37 %659)30C+-'37 $ %1-2%8%7 %7'%(%7
%&$
$/
"
$ #-7-8% % 7-8-37 %659)30C+-'37 )7*-0)7 < '314%67%7 " #-7-8% %0 )6'%(3 () 0%7 *036)7 %659) %'-32%0 %.%7
$ $ '
%!#
' 3
$
"! % *
' "
%
"
. " $ # "!% / # 0! * * " . # & # ! %
%$ ! "$ # '$" # # #
#
! "
% '
!
!
$
# $
" % - # $ # "$ # '$" #
/ "
"! !$1#' *
* &* !! (
$"
'!/
"!% !
$ # #$" - #$ # % " # # $ # " #
# $ # $ & $". ' ! / ! $ $
$"!
'$/!
1 * ! 1!
) %
"
' 1
'
#$ # % " # # $ # $ # "!% / # #$" -
' #'
!
'
"
-
&
$ % %3%
"%"$
#
! %
% # !
"$ " % %
# # !& !
' )
%1% )+6%
! #
&
# $
!
, ' ( "
&
# %
$.
! !&
"% ' " ' $&
"!& $ %&
#)$ $" # $
! '" #
! + $ ! '$
" % - # # # "!% " # ( " # " # . #
$
# + .! $ ! ! $ $ ! $ " " 1( $
' ! ! 0
%
#
.
$ "
;\hW‡d 7bc[_ZW" ]kWhZWfWhgk[ Z[ bW h[i[hlW [YebŒ]_YW 9ejWYW# Y^_#9WoWfWi" _dZ_YŒ gk[ kd h[# Yehh_Ze feh i_j_ei dWjkhWb[i f[h# c_j_h| W bW ][dj[ iWb_h Z[b [ijhƒi o bW hkj_dW$
! "$ !*"
( " $ # #$" - " #
bei jkh_ijWi dWY_edWb[i o [njhWd# `[heiÇ" Wi[]khÂŒ :_[]e =edp|b[p" ]k‡W Z[ jkh_ice$ ÆI_[cfh[ i[ f_[diW [d fbWoW" f[he i[ Z[`Wd Z[ bWZe i_j_ei Whgk[ebÂŒ]_Yei e bW dW# jkhWb[pW c_icWÇ" Yec[djÂŒ$
Z‡Wi Z[ \[h_WZe" [djh[ [b c_ƒhYe# b[i o [b Zec_d]e$ ÆBW efY_ÂŒd fh[\[h_ZW ied bWi fbW# oWi Z[ ;ic[hWbZWi o CWdjW" o =kWoWgk_b$ I_d [cXWh]e" [n_ij[d i_j_ei gk[ de ied [nfbejWZei feh
:[fehj[i Z[ Wl[djkhW" l_i_jWi W i_j_ei Whgk[ebÂŒ]_Yei" YWc_dWjWi feh bWi h[i[hlWi [YebÂŒ]_YWi Z[b fW‡i" ]Wijhedec‡W" Ă’[ijWi fefk# bWh[i o Z[iĂ’b[i ied bWi c‘bj_fb[i efY_ed[i fWhW Z_i\hkjWh Z[ Y_dYe
):-7%6 )0 )78%(3 () 037 *6)237 ()0 :),A'903 ):-7%6 )0 %')-8) 0%28%7 )2 &9)2 )78%(3 !%259) () +%730-2% 00)23 0):%6 '%.% () ,)66%1-)28%7 0):%6 0-28)62% !6-@2+903 () 7)+96-(%( "7%6 '-2896C2 () 7)+96-(%( 0%&36%'-C2
.)' (Ĺ‹ &Ĺ‹ $/4! '# (.)Ĺ‹ Ĺ‹, 0#-. Ĺ‹ #-. 4)
ēŊ +Ŋ #!1#3 1(.Ŋ )#!43(5.Ŋ"#Ŋ+ Ŋ .,(2(¢-Ŋ"#Ŋ+ Ŋ #1" "Ŋ1.,/#Ŋ#+Ŋ2#!1#3.Ŋ2. 1#Ŋ+ Ŋ#231 3#%( Ŋ/.+(!( +Ŋ"#Ŋ#2 Ŋ_/.! ē
ĒY ! ,ŋ ŋ ,'šŋ &ŋ - / )ŋ*)&# # &ŋ (ŋ &ŋ -)ŋ -., *)ēŋ +Ŋ#7%#-#1 +Ŋ 4/¢Ŋ Ŋ+.2Ŋ4-($.1, ".2Ŋ Ŋ.!4+3 1Ŋ" 3.2Ŋ8Ŋ, 04(++ 1Ŋ+.2Ŋ'#!'.2Ŋ / 1 Ŋ2 +5 1Ŋ#+Ŋ-., 1#Ŋ"#Ŋ+ Ŋ(-23(34!(¢-ēŊŊ
;b i[Yh[jWh_e [`[Ykj_le Z[ bW 9e# c_i_ÂŒd Z[ bW L[hZWZ" 9h_ij^_Wd 8W^WcedZ[" h[l[bW gk[ ZkhWdj[ bWi _dZW]WY_ed[i" [d bW [n Kd_# ZWZ Z[ ?dl[ij_]WY_ed[i ;if[# Y_Wb[i K?;I " i[ [dYedjhÂŒ kdW YWhf[jW [d bW gk[ [b [nj[d_[dj[ Yehed[b Z[ Feb_Y‡W" xZ]Wh LWYW" o YecWdZWdj[ Z[ Z_Y^W kd_ZWZ" fhecel‡W kdW [ijhWj[]_W Z[ Z[# \[diW Z[ bW Feb_Y‡W \h[dj[ Wb YWie H[ijh[fe$ ;ije ][d[hÂŒ bW Yh[WY_ÂŒd Z[ kdW 9ec_i_ÂŒd Z[ :[\[diW ?dij_# jkY_edWb Z[ bW Feb_Y‡W fh[i_Z_ZW feh [ij[ eĂ’Y_Wb" [djh[ Ykoei eX`[# j_lei fbWdj[WZei [ijWXW iWYWh Z[b fW‡i W bW \Wc_b_W Z[ bei ^[hcWdei Z[iWfWh[Y_Zei$ Ä 4;+ĹŠ#1 ĹŠ+ ĹŠ#231 3#%( ĹŠ"#ĹŠ#23 ĹŠ .Äą ,(2(¢-ĹŠ"#ĹŠ #$#-2 Ä&#x;
;d [ij[ [nf[Z_[dj[" gk[ ZWjW Z[ '//(" YedijW _d\ehcWY_Œd Z[ YŒce xZ]Wh LWYW f_Z_Œ W jeZei bei Z[ijWYWc[djei feb_Y_Wb[i gk[ i[ Yedikbj[ W d_l[b dWY_edWb o i[ Z[d h[Yec[dZWY_ed[i Z[ YŒce bei kd_\ehcWZei Z[X‡Wd W\hedjWh o YŒce Z[X‡Wd Z[\[dZ[hi[ Z[ bWi WYkiWY_ed[i Z[ bW \Wc_b_W H[i# jh[fe$ ?dYbkie" ^Wo _d\ehcWY_Œd Z[ Y_[djei Z[ Z[ijWYWc[djei feb_Y_Wb[i" Z[ Z_h[YY_ed[i dWY_e# dWb[i" Z[ c_]hWY_Œd" Z[ bW Feb_# Y‡W `kZ_Y_Wb" Z[ c[Z_Y_dW b[]Wb o ejhei [ijWc[djei h[ifedZ_[dZe Wb h[gk[h_c_[dje Z[b =[d[hWb$
gk[ b[i WYki[d Z[ dWhYejh|Ă’Ye" gk[ i[ bei [nfkbi[ Z[b fW‡i feh i[h YebecX_Wdei" gk[ de b[i f[h# c_jWd cWd_\[ijWhi[ [d bW FbWpW Z[ ?dZ[f[dZ[dY_W" gk[ i[ [n_`Wd Y|hY[b[i [if[Y_Wb[i fWhW bei WYk# iWZei [d [i[ YWie$ ;ije j[hc_dÂŒ Yed bW Yh[WY_ÂŒd Z[ bW 9|hY[b *" [d [b dehj[ Z[ Gk_je$
'1(23( -ĹŠ ' ,.-"#ĹŠ
ŗŊ .% ".ēŊŊ Ŋ #!1#3 1(.Ŋ )#!43(5.Ŋ"#Ŋ+ Ŋ .,(2(¢-Ŋ ŗ"#Ŋ+ Ŋ #1" "Ŋ/ 1 Ŋ(-5#23(% 1Ŋ! 2.2Ŋ "#Ŋ"#2 / 1#!(".2Ŋ#-Ŋ#+Ŋ !4 ".1ĔŊ #-31#Ŋ#++.2Ŋ"#Ŋ+.2Ŋ'#1, -.2Ŋ -"1_2Ŋ8Ŋ -3( %.Ŋ #231#/.Ŋ 1(2,#-"(ēŊ
ĹŠ 23 ĹŠĹŠ .,(2(¢-ĹŠ2#ĹŠ!1#¢Ŋ/.1ĹŠ #!1#3.ĹŠ Ĺ— )#!43(5.ĹŠ#+ĹŠÄŠĹŠ"#ĹŠ, 8.ĹŠ"#ŊĉććÄ?ĹŠ8ĹŠ#,Äą /#9¢Ŋ ĹŠ$4-!(.- 1ĹŠ#-ĹŠ$# 1#1.ĹŠ"#Ŋĉććđē
4 -".ĹŠ2#ĹŠ/4 +(!¢Ŋ #+ĹŠ(-$.1,#ĹŠ"#ĹŠ+ ĹŠ .Äą ,(2(¢-ĔŊŊ#+ĹŠ #-#1 +ĹŠ ;d kdW YWhjW" _dYbkie fhej[ijW 1 3(ă!¢Ŋ04#ĹŠ+.ĹŠ04#ĹŠ'(9.ĹŠ Wdj[ [b cWdZe o f_Z[ gk[ i[ h[WY# #1 ĹŠ+.ĹŠ!.11#!3.ĹŠ8ĹŠ04#ĹŠ+.ĹŠ Y_ed[ \h[dj[ W Ăˆkd YWie gk[ W\[YjW 5.+5#1~ ĹŠ ĹŠ' !#1ĹŠÄĄÄ“
Ä 4_ĹŠ.31 2ĹŠ !!(.-#2ĹŠ#,/1#-"(¢Ŋ#+ĹŠ %#-#1 +ĹŠ ! Ä&#x;
W bW _dij_jkY_ÂŒdÉ$ ;ije Z[ck[ijhW bW \ehcW [d gk[ bW Feb_Y‡W i[ Yec# fbejÂŒ _dj[hdWc[dj[$ ;hW jeZW bW Feb_Y‡W bW gk[ f[diWXW YÂŒce Z[# \[dZ[hi[ \h[dj[ Wb YWie$ Ä 4_ĹŠ#5("#-!(¢Ŋ#23 ĹŠ/.2(!(¢-Ä&#x;
Gk[ ^kXe ]hWd fh[eYkfWY_ÂŒd _d# j[hdW o gk[ i[ fh[j[dZ_ÂŒ" Yece i[ ^W Z_Y^e ZkhWdj[ jeZe [b fhe# Y[ie" jWfWh bei ^[Y^ei$ :[ifkƒi Z[b W‹e /(" WfWh[Y[d l[hi_ed[i gk[ be YedĂ’hcWd$$$ ;d [iW ƒfe# YW" bW Feb_Y‡W d[]WXW bei ^[Y^ei o [djh[]WXW _d\ehc[i ik]_h_[dZe gk[ bei c[deh[i ^WX‡Wd \Wbb[Y_Ze [d kd WYY_Z[dj[ Z[ jh|di_je$ KdW i[h_[ Z[ WYY_ed[i j[dZ[dj[i W [d# ]W‹Wh" eYkbjWh o d[]Wh gk[ \k[ kd Yh_c[d Z[ ;ijWZe$ Ä Â˘,.ĹŠ - +(9 ĹŠ 423#"ĹŠ + ĹŠ /.2(!(¢-ĹŠ /.+(!( +Ä&#x;
;i bWc[djWXb[" fehgk[ i_ ^kX_[i[d WYjkWZe Z[ ejhW cWd[hW o Yeef[# FbWdj[WXWd bWi c|i lWh_WZWi Wb# hWZe fWhW _Z[dj_Ă’YWh gk_ƒd" YÂŒce j[hdWj_lWi$ Feh [`[cfbe" gk[ i[ o feh gkƒ eYkhh_[hed bei ^[Y^ei" _dl[ij_]k[ W bW \Wc_b_W H[ijh[fe" gk_p| ^eo de [ijWh‡Wd WhhWijhWdZe
Ä 4;+ĹŠ$4#ĹŠ+ ĹŠ1#2/4#23 Ä&#x;
#1ă+
-ĹŠ4- ĹŠ#-31#5(23 ĹŠĹŠ #+ĹŠ%#-#1 +ĹŠ ! ĹŠĹŠ "().ĹŠĹŠ04#ĹŠ#+ĹŠ ÄąÄˆÄ‡ĹŠĹŠ -.ĹŠĹŠ#7(23#ĹŠ8ĹŠ04#ĹŠ#1 ĹŠ+ ĹŠ 2(%+ ĹŠ"#ĹŠ4-ĹŠ/ 314++#1.Ģē [ij[ bWijh[ o ^WXh‡W jhWdgk_# b_ZWZ fWhW bW \Wc_b_W o fWhW [b fW‡i$ Be _Z[Wb i[h‡W gk[ i[ WYbWh[ gk_ƒd[i ied bei cWbei [b[c[djei o iWdY_edWhbei$ Ä 4_ĹŠ /."#1ĹŠ 3#-~ ĹŠ ^"% 1ĹŠ ! ĹŠ / 1 ĹŠ/#124 "(1ĹŠ ĹŠ3." ĹŠ4- ĹŠ(-2Äą 3(34!(¢-Ä&#x;ĹŠ
;b _d\ehc[ Z[ bW 9ec_i_ÂŒd Z[ bW L[hZWZ Z_Y[ gk[ i[ jhWjW Z[ kd eĂ’Y_Wb gk[ jkle kd ]hWd b_# Z[hWp]e Z[djhe Z[ bW [dj_ZWZ$ ;i kd eĂ’Y_Wb gk[ jeZWl‡W de j[d‡W kd hWd]e ikf[h_eh$ >W# X‡W kd 7bje CWdZe" ^WX‡W ][# d[hWb[i o Yehed[b[i" f[he [i ƒb gk_[d h[WYY_edW o bbWcW W gk[ bW Feb_Y‡W h[WYY_ed[$ ;b ][d[# hWb LWYW \k[ cko _dĂ“ko[dj[ ieXh[ bei kd_\ehcWZei$
ƒ
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
ă
bW H[l_ijW Y_hYkbÂŒ Z‡Wi Wdj[i Z[ bW l[ZW [b[YjehWb$ 7Z[c|i" [d\Wj_# 7 bWi '&0&& Z[ ^eo" [d [b Jh_Xk# pWhed gk[ [d [b [Z_jeh_Wb j_jkbWZe dWb 9edj[dY_eie ;b[YjehWb J9; ÆKd DE hejkdZeÇ" i[ [nfh[iWXW kdW ef_d_ÂŒd o de i[ ^WY‡W i[ h[_dijWbWh| bW WkZ_[dY_W fhefW]WdZW" Z[X_Ze W gk[ Z[ `kp]Wc_[dje [d YedjhW Z[ bW h[l_ijW L_ijWpe feh bW ÄˆÄ‡Ä‡Ä“Ä‡Ä‡Ä‡ĹŠ de [n_ij_ÂŒ kd YedjhWje$ ÂĄ ĹŠ ikfk[ijW _d\hWYY_ÂŒd [b[Y# "# #1~ ĹŠ/ % 1ĹŠ+ ĹŠ 1#5(23 ĹŠ (23 9.ĹŠ jehWb gk[ ^WXh‡W Yec[j_Ze /.1ĹŠ+ ĹŠ/1#24-3 ĹŠ 1(3#1(.2 7i_c_ice" Yece fWhj[ Z[ [d bW YWcfW‹W Z[ bW ‘bj_cW (-$1 !!(¢-Ä“ bWi fhk[XWi Z[ Z[iYWh]e" YedikbjW fefkbWh$ EoWhj[ fh[i[djÂŒ W bW `k[pW ;b fWiWZe '/ Z[ eYjk# Xh[" [ijW WkZ_[dY_W \k[ feij[h]W# kdW Yef_W Z[ kd Whj‡Ykbe gk[ i[ ZW feh bW `k[pW o fh[i_Z[djW Z[b fkXb_YÂŒ [b , Z[ cWoe [d Z_Wh_e ;b J9;" N_c[dW ;dZWhW" Z[X_Ze W J[bƒ]hW\e" gk[ i[ [dYk[djhW cW# gk[ bWi fWhj[i _dlebkYhWZWi fh[# dei Z[b ;ijWZe" [d [b YkWb i[ _dl_# jW W bW Y_kZWZWd‡W W Z[Y_hb[ dk[l[ i[djWhed dk[lWi fhk[XWi$ ;d ik Z[\[diW" ZkhWdj[ bW Wk# l[Y[i I‡ W bW FWjh_W$ Æ;d [ij[ YWie Z_[dY_W" bei WXe]WZei Z[ L_ijWpe" de i[ ^W ^[Y^e dWZW feh Yedi_Z[# HW\W[b EoWhj[ o @eiƒ 7bl[Wh" cW# hWhbe kd Wikdje _d\ehcWj_le o de d_\[ijWhed gk[ bW [Z_Y_ÂŒd '&*/ Z[ Z[ fhefW]WdZWÇ" Yk[ij_edÂŒ$
( Ĺ‹(/ 0)Ĺ‹*& 4)Ĺ‹ Ĺ‹ #'*/!( #)( -Ĺ‹ (Ĺ‹ &Ĺ‹ * -Ĺ‹ ;b fbWpe fWhW gk[ bW ][dj[ fh[# jei ieXh[ '&&$ BW \kdY_edWh_W Z_`e gk[ bei Ye# i[dj[ _cfk]dWY_ed[i [d Yed# jhW Z[ bei '& YWdZ_ZWjei c[`eh c_i_edWZei i[ h[kd_h|d [b fhÂŒn_# fkdjkWZei Z[b YedYkhie fWhW ce . Z[ del_[cXh[ fWhW YWb_Ă’YWh i[b[YY_edWh Wb dk[le :[\[dieh bWi eX`[Y_ed[i$ :[ WYk[hZe Yed bW Z[b Fk[Xbe l[dY[ ^eo" W bWi dehcWj_lW" [djh[ bei h[# (*0&&$ ĹŠ gk[h_c_[djei gk[ Z[X[d =WXh_[bW BÂŒf[p" l_Y[fh[# Ykcfb_h bWi eX`[Y_ed[i i_Z[djW Z[ bW 9ec_i_ÂŒd I[# +ĹŠ1#%+ ,#-3.ĹŠ b[YY_edWZehW" _d\ehcÂŒ gk[ #23 +#!#ĹŠ31#2ĹŠ [ij|d0 Yedj[d[h [b dec# Xh[ o Yef_W Z[ bW YƒZkbW ^WijW bW i[cWdW Wdj[h_eh "~ 2ĹŠ/ 1 ĹŠ04#ĹŠ+ ĹŠ .,(2(¢-ĹŠ i[ h[Y[fjÂŒ kdW eX`[Y_ÂŒd [d #+#!!(.- ".1 ĹŠ Z[ Y_kZWZWd‡W Z[b _c# YedjhW Z[ bW ‘d_YW YWdZ_ZWjW ! +($(04#ĹŠ+ 2ĹŠ (,/4%- !(.-#2Ä“ fk]dWdj[" _dZ_YWh W gk_ƒd _cfk]dW o [nfe# ck`[h" 7dW 7Xh_b" gk_[d \k[ d[h ZeYkc[djWZWc[dj[ [ncW]_ijhWZW Z[ bW [n 9eh# j[ Ikfh[cW Z[ @kij_Y_W o gk[ [d bei \kdZWc[djei Z[ ^[Y^e o Z[ [ij[ YedYkhie WbYWdpe .."-+ fkd# Z[h[Y^ei$
&. - ,Ĺ‹ ,4š(Ĺ‹ /'*&#,6Ĺ‹ ")3Ĺ‹/( Ĺ‹ *, . Ĺ‹ ! ( :[ifkƒi Z[ gk[ [b cW]_ijhWZe [ifW‹eb 8WbjWiWh =WhpÂŒd" gk_[d \ehcW fWhj[ Z[ bW l[[Zkh‡W _dj[h# dWY_edWb [dYWh]WZW Z[ l_]_bWh [b fheY[ie Z[ h[[ijhkYjkhWY_ÂŒd Z[b i_ij[cW `kZ_Y_Wb Z[ ;YkWZeh" Whh_# XWhW W bW YWf_jWb Wo[h [d bW deY^[" i[ h[kd_h| ^eo Yed lWh_Wi Wkjeh_# ZWZ[i fWhW WdWb_pWh bWi YedZ_Y_e# d[i jƒYd_YWi o c[jeZebÂŒ]_YWi gk[ Z[X[ Ykcfb_h Z_Y^W l[[Zkh‡W$ :[ WYk[hZe Yed bW W][dZW" W ^ ēŊ +ĹŠ, %(231 ".ĹŠ2#ĹŠ'(9.ĹŠ bWi '&0&&" cWdj[dZh| kdW h[# $ ,.2.ĹŠ/.1ĹŠ24ĹŠ/ 13(!(/ !(¢-ĹŠ#-ĹŠ+ ĹŠ kd_ÂŒd Yed bW c_d_ijhW Z[ @kij_Y_W" (-5#23(% !(¢-ĹŠ2. 1#ĹŠ#+ĹŠ#7"(!3 ".1ĹŠ @e^WddW F[i|dj[p" o <[hdWdZe !'(+#-.ĹŠ 4%423.ĹŠ (-.!'#3ēŊ 9[Z[‹e" fh[i_Z[dj[ [ Z[b 9ed# ;d bW jWhZ[" W bWi '+0&&" i[ jhWibW# i[`e Z[ FWhj_Y_fWY_ÂŒd 9_kZWZWdW o 9edjheb IeY_Wb 9fYYi fWhW ZWh| Wb 9@J fWhW h[kd_hi[ Yed [b fh[# Z[Ă’d_h bW W][dZW gk[ Z[X[h|d i_Z[dj[" FWkbe HeZh‡]k[p" o Yed bei leYWb[i0 JWd_W 7h_Wi o <[h# Ykcfb_h [d del_[cXh[$ dWdZe O|lWh$ 7bb‡ jhWjWh|d 7bh[Z[Zeh Z[ bWi '(0&&" ĹŠ ieXh[ bei WlWdY[i Z[b fbWd bei c[Z_ei Z[ Yeckd_YW# Z[ h[\ehcW Z[ bW `kij_Y_W$ Y_ÂŒd j[dZh|d '& c_dkjei +3 2 1ĹŠ 19¢-ĹŠ Bk[]e Z[ [ijW Y_jW fWhW WXehZWh Wb cW]_ijhWZe" "#) 1;ĹŠ#+ĹŠ/ ~2ĹŠ#+ĹŠ YedY[Z[h| kdW =WhpÂŒd gk_[d" Z[ifkƒi" i[ jhWibWZW# ,  - ĹŠ ĹŠ+ 2ĹŠ ĈĈĖĉćē [djh[l_ijW Wb [gk_fe Z[ h| Wb i[Yjeh Z[ BW <beh[ijW Yeckd_YWY_ÂŒd Z[ bW [d# fWhW WbcehpWh Yed F[i|d# j[p" Yed 9[Z[‹e o Yed bei leYWb[i j_ZWZ h[if[Yje W YÂŒce l[ ƒb [ij[ Z[b 9edi[`e Z[ bW @kZ_YWjkhW JhWd# fheY[ie Z[ h[[ijhkYjkhWY_ÂŒd Z[b i_ij[cW `kZ_Y_Wb [d ;YkWZeh$ i_jeh_e 9@J " [djh[ ejhei$
Ä…
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
#,/!v -Ĺ‹ , -*#, .),# !, ./#. CƒZ_Yei \hWdY[i[i Z[b >eif_jWb F_j_[#IWbf[jh_[h[ h[Wb_pWh|d ^eo o cW‹WdW [d [b >eif_jWb C[jhefe# b_jWde Z[ Gk_je Y_hk]‡Wi W d_‹ei o WZkbjei Z[ [iYWiei h[Ykhiei$ 7i‡ be Z_e W YedeY[h [b ZeYjeh HWc_he Oƒf[p" eh]Wd_pWZeh Z[b [dYk[djhe Z[ Ejehh_debWh_d]ebe]‡W <hWdYe# [YkWjeh_Wde" Z[iWhhebbWZe [djh[ [b l_[hd[i o [b i|XWZe$ ÆI[ fhWYj_YWh|d Wbh[Z[Zeh Z[ '& ef[hWY_ed[i$ BWi f[hiedWi gk[ i[h|d _dj[hl[d_ZWi f[hj[d[Y[d W bW <kdZWY_ÂŒd C[jhe\hWj[hd_ZWZ$ I[ h[Wb_pWh|d Y_hk]‡Wi Z[ fWf_becW Z[ bWh_d][ [d d_‹ei0 b[i_ed[i l[# hhk]Wi [d bWi Yk[hZWi leYWb[i o [b h[ije Z[ \Wh_d][ o bWh_d][1 ]becki _djhWj_cf|d_Ye0 jkceh Z[b e‡Ze c[Z_e o Z[b ^k[ie feh Z[jh|i Z[b e‡Ze1 fWf_becW _dl[hj_Ze [d \eiWi dWiWb[i0 jkceh X[d_]de gk[ Yh[Y[ [d [b _dj[h_eh Z[ bW dWh_p o [d bei i[dei fWhWdWiWb[i1 o eje[iYb[he# i_i0 Yh[Y_c_[dje ÂŒi[e WdehcWb [d [b e‡Ze c[Z_eÇ" i[‹WbÂŒ$
)-Ĺ‹0 #()-Ĺ‹()Ĺ‹-)(Ĺ‹ # (Ĺ‹ , # # )-Ĺ‹ (Ĺ‹ / ),Ĺ‹ -ĹŠ#234"(.ĹŠ1#5#Äą +¢Ŋ04#ĹŠ#+ĹŠÄ?ÄŠÄ”ÄŽĹ˜ĹŠ "#ĹŠ+ ĹŠ%#-3#ĹŠ1#Äą !' 9 ĹŠ ĹŠ+.2ĹŠ#7Äą 31 -)#1.2Ä“
9kWdZe =WXh_[b =$ bb[]ÂŒ Z[ 9e# becX_W" ^WY[ Wfhen_cWZWc[d# j[ kd W‹e" b[ \k[ Z_\‡Y_b [dYed# jhWh l_l_[dZW$ Feh c|i Z[ jh[i c[i[i XkiYÂŒ f[he i[ b[ Yec# fb_YWXW YkWdZe ÆYec[dpWXW W ^WXbWhÇ" i[]‘d YedĂ’[iW$ Fh_c[he XkiYÂŒ [d bei Wb# h[Z[Zeh[i Z[ bW Kd_l[hi_ZWZ 9[djhWb$ ÆC[ Z_`[hed gk[ W^‡ ^WX‡W f[di_ed[i o gk[ c[ feZ‡Wd Whh[dZWh kd YkWhje" f[he YWZW gk[ c[ Wj[dZ‡Wd" bW h[ifk[ijW [hW bW c_icW0 de WY[fjWd [njhWd`[hei" c[dei YebecX_WdeiÇ$ ;b ^ecXh[" Z[ (+ W‹ei" h[# Ykhh_ÂŒ W kd Z_Wh_e fWhW XkiYWh WdkdY_ei$ >_pe c|i Z[ '+ Y_# jWi o d_d]kdW jkle Ækd Ă’dWb \[b_pÇ$ ÆBk[]e" c_ [cfb[WZeh
ēŊ +Ŋ #1./4#13.Ŋ"#Ŋ 4(3.Ŋ#2Ŋ4- Ŋ"#Ŋ+ 2Ŋ/1(-!(/ +#2Ŋ/4#13 2Ŋ"#Ŋ(-%1#2.ēŊ
c[ Z_e kd YkWhje [d bW Z_iYej[YW [d bW gk[ oe jhWXW`WXW o Wi‡ l_l‡ Y[hYW Z[ eY^e c[i[i" ^WijW gk[ YedeY‡ W c_ del_W [YkWjeh_WdW $ @kdjei" h[d# jWcei kd Z[fWhjWc[dje$ Âś9bWhe " W bW [djh[l_ijW Yed bei Zk[‹ei \k[ [bbW iebWÇ" [nfb_YÂŒ$ (2!1(,(- !(¢-
Kd [ijkZ_e h[Wb_pWZe feh bW <bWYie <WYkbjWZ BWj_deWc[h_YWdW Z[ 9_[d# Y_Wi IeY_Wb[i h[l[bŒ gk[ bei [YkWjeh_W#
dei de [ij|d Yed\ehc[i Yed [b d‘c[he Z[ [njhWd`[hei gk[ _d# ]h[iWd Wb fW‡i$ ;b ,)"+ _dZ_YÂŒ gk[ ied Z[cWi_WZei" \h[dj[ Wb '."/ gk[ Z_`e gk[ ied feYei o kd '( i[‹WbÂŒ gk[ [b d‘c[# he [i WZ[YkWZe$ ÆBW feXbWY_ÂŒd c|i `el[d [i bW gk[ i[ fh[ijW c|i WX_[h# jW \h[dj[ W bW _dc_]hWY_ÂŒd" ck[ijhW cWoeh fhef[di_ÂŒd W Yedi_Z[hWh gk[ bei [njhWd# `[hei [d ;YkWZeh ied feYeiÇ" i[‹WbÂŒ [b _d\ehc[$ I[]‘d [b Wd|b_i_i h[]_e# dWb" Gk_je [i bW Y_kZWZ gk[ c|i i[ d_[]W W WY[fjWh W bei [njhWd`[hei$ FWhW [b -.") Z[ bei YWf_jWb_dei" ^Wo Z[cWi_W# Zei \eh|d[ei" c_[djhWi gk[ [d =kWoWgk_b [b fehY[djW`[ XW`W W -("* $ !#/3 !(¢-ĹŠ
;b [ijkZ_e jWcX_ƒd h[l[bŒ gk[ bei Y_kZWZWdei Z[ fW‡i[i l[Y_dei ied gk_[d[i YedY_jWd bWi ef_d_ed[i c|i d[]Wj_lWi$ ;b *("+ Z[ bW ck[ijhW j_[d[ kdW cWbW e cko cWbW f[hY[f#
3.2
#ĹŠ+ ĹŠ,4#231 ĹŠ +ĹŠÄ?ÄŽÄ”Ä’Ĺ˜ĹŠ"#ĹŠ+ ĹŠ/. + !(¢-ĹŠ#23;ĹŠ"#ĹŠ Ĺ—ĹŠĹŠĹŠĹŠ !4#1".ĹŠ!.-ĹŠ 4,#-3 1ĹŠ+.2ĹŠ!.-31.+#2ĹŠ ĹŠĹŠĹŠĹŠ$1.-3#1(9.2Ä“
ĹŠ +ĹŠÄŒÄ’Ä”ÄŽĹ˜ĹŠ!1##ĹŠ!.-5#-(#-3#ĹŠ"#/.13 1+.2ĹŠ Ĺ—ĹŠĹŠĹŠĹŠ ĹŠ24ĹŠ/ ~2Ä“ ĹŠ ¢+.ĹŠ#+ĹŠÄ‰ÄŒÄ”ÄŽĹ˜ĹŠ!.-2("#1 ĹŠ "#!4 ".ĹŠ Ĺ—ĹŠĹŠĹŠĹŠ+#% +(9 1ĹŠ ĹŠ+.2ĹŠ(-".!4,#-3 ".2ēŊŊ
Y_ÂŒd Z[ bei f[hkWdei gk[ l_l[d [d ;YkWZeh" c_[djhWi gk[ Wb ,*"( b[ fWiW be c_ice Yed bei Yebec# X_Wdei$ ;d YedjhWij[" [b ++ Z[b f‘Xb_Ye j_[d[ kdW ef_d_ÂŒd cko Xk[dW e Xk[dW Z[ bei [ijWZekd_# Z[di[i o [b +)"' Z[ bei [khef[ei$ I[]‘d bW ieY_ÂŒbe]W L[hÂŒd_YW <Wh_dWd]e" [d bW ieY_[ZWZ [YkWje# h_WdW jeZWl‡W [n_ij[d fh[`k_Y_ei Z[ gk[ bei [njhWd`[hei bb[]Wd Wb fW‡i W Z[ife`Whbei Z[ be gk[ Yedi_Z[hWd ikoe$ Æ;b jhWXW`e" feh [`[cfbe$ I[ i_[dj[d Wc[dWpWZei o [ie b[i _d# \kdZ[ h[Y^Wpe$ Ejhe j[cW [i bW _d# i[]kh_ZWZ Yh[Y_[dj[$ I[]‘d Z_Y[ bW ][dj[" Z[iZ[ gk[ bb[]Whed Yebec# X_Wdei Wb fW‡i [b ‡dZ_Y[ Z[b_dYk[d# Y_Wb Wkc[djÂŒĂ‡" i[‹WbÂŒ$
ĹŠ Ä– GTO46 Con sistema de numeraciĂłn en excelente estado. GTO Bicolor Con sistema de numeraciĂłn en excelente estado.
158303/cv
ƒ
ĖŊĸćĉĚŊĉÄ?ÄŽĹŠÄ’Ä’ĹŠÄ?đŊ ĸćĉĚŊĉÄ?ĎŊĒĊŊćÄ?ĹŠ
SAN VICENTE, MAN
LOTIZACIÓN LOS GUAYACA
Zona residencial de San Vice y BahĂa de CarĂĄquez, a 1 km aeropuerto y del puente Los C Solares desde 300m2 con ag potable y energĂa elĂŠctrica. Li para construir. Contado o crĂŠ 083513401 / (02) 250760
AR
AB/30064
#( )Ĺ‹' -.,)-Ĺ‹*,) - )-Ĺ‹ *),Ĺ‹*, -/(.)Ĺ‹* /& )Ĺ‹ Z[ cW[ijhei o Z[b f[hiedWb WZ# c_d_ijhWj_le Z[ '&+ Yeb[]_ei Z[ bW fhel_dY_W Z[ ;ic[hWbZWi h[Y_X_ÂŒ Wdj_Y_fei W cWd[hW Z[ YhƒZ_jei j_fe 8 Z[b C_d_ij[h_e Z[ <_dWdpWi Yed cedjei gk[ bb[]W#
hed ^WijW bei (&& c_b ZÂŒbWh[i" YkWdZe Wf[dWi feZ‡Wd h[Y_X_h c[dei Z[ jh[i iWbWh_ei X|i_Yei kd_Ă’YWZei$ :[iZ[ [i[ [djedY[i" bW 9ed# jhWbeh‡W h[Wb_pÂŒ kdW WkZ_jeh‡W Wb fheY[ie Z[ WZ`kZ_YWY_ÂŒd Z[
Z_d[he o" jhWi Zei W‹ei" h[Y_ƒd DkX_W @Wd[j^ ;if_dWb CWh‡d o 9ƒ# Lb‘Y^[h Gk_dj[he ;ijWY_e" b[ Z_`e Z[j[hc_dÂŒ gk[ [n_ij[d iWh C[Z_dW 7bX|d" gk_[d[i W BW >ehW gk[ b[ [njhW‹W [ij[ fh[ikdjWi h[ifediWX_b_# [ij|d Yed Xeb[jWi Z[ YWfjkhW" fheY[ie fehgk[ bei cW[ijhei ĹŠ i[ [dYk[djhWd fW]WdZe bei Yhƒ# i[ [dYk[djhWd fhÂŒ\k]ei$ ZWZ[i f[dWb[i feh fWhj[ Z[ bei fhe\[ieh[i$ IeXh[ [b j[cW" [b fh[i_Z[d# Z_jei Yed ik ik[bZe" oW gk[ [iW ;i Wi‡ gk[" ^Wo Y_dYe ÄˆÄ‡ÄŽĹŠ!.+#%(.2ĹŠ j[ Z[ bW 7ieY_WY_ÂŒd Z[ H[Yje# \k[ bW Z_ifei_Y_ÂŒd Z[b C_d_ij[h_e 3(#-#ĹŠ+ ĹŠ Z[j[d_Zei feh [b ikfk[i# /1.5(-!( Ä“ h[i o :_h[Yjeh[i Z[ 9eb[]_ei Z[ ;ZkYWY_ÂŒd fWhW h[Ykf[hWh [b o ;iYk[bWi" [d ;ic[hWbZWi" Z_d[he$ je Z[b_je Z[ f[YkbWZe" feh fh[ikdje WXkie Z[ \edZei f‘Xb_Yei$ Bei Wfh[iWZei ied0 H_jW C[hY[Z[i =kW]kW Fƒh[p" Z[b 9e# b[]_e 9Whbei 9edY^W1 <[hdWdZe F_WdY^_Y^[ Jh_l_‹e" Z[b 9eb[]_e 7hY[i_e Ehj_p ;ijkf_‹|d1 9_jW ;b_pWX[j^ C[hW CedjW‹e" M[# bb_d]jed 7hcWdZe F[‹W KbbeW o J[ed_bW B[dd_i LWb[dY_W 9W_Y[Ze" Z[b 9eb[]_e @kb_e C[dW Lƒb[p$ 23;-ĹŠ/1¢$4%.2
¥ ēŊ -31#Ŋ5(#1-#2Ŋ8Ŋ#+Ŋ2; ".ĔŊ2#Ŋ"#2 11.++¢Ŋ+ Ŋ 4"(#-!( Ŋ"#Ŋ$.1,4+ !(¢-Ŋ "#Ŋ! 1%.2Ŋ#-Ŋ#+Ŋ 49% ".Ŋ 1(,#1.Ŋ"#Ŋ 1 -3~ 2Ŋ #- +#2Ŋ"#Ŋ 2,#1 +" 2ē
;djh[ [b l_[hd[i o i|XWZe ‘b# j_ce i[ h[Wb_pÂŒ W bW WkZ_[dY_W Z[ \ehckbWY_ÂŒd Z[ YWh]ei [d [b @kp]WZe Fh_c[he Z[ =WhWdj‡Wi F[dWb[i Z[ ;ic[hWbZWi o i[ Z_Y# jÂŒ fh_i_ÂŒd fh[l[dj_lW YedjhW bei Y_dYe fheY[iWZei$ C_[djhWi [bbei [ij|d Z[j[# d_Zei ^WijW [iYbWh[Y[h [b j[cW Z[ fh[ikdje f[YkbWZe1 C_h_Wc 8[jjo CedjW‹e 9|hZ[dWi" HeiW 7bXW 9^WhYefW 8ed[" ?d]h_Z C[b_ZW I[l_bbW Ă›l_bW" 7hY[d_e >[hce][d[i 7bWhYÂŒd 8ed["
& )(vŋ /#!Ćŋ()ŋ-)3ŋ /). ŋ &ŋ ) # ,() ŊěŊ @kWd <WbYed‡ Fk_]"
Wif_hWdj[ W bW 9ehj[ DWY_edWb Z[ @kij_Y_W" [d\h[djW lWh_Wi _cfk]# dWY_ed[i feh Wb]kdei h[fh[i[d# jWdj[i Z[ bW ieY_[ZWZ Y_l_b$ ;djh[ be c|i l_i_Xb[" YedijWd bei Yk[ij_edWc_[djei \ehckbW# Zei feh bW Z_h_][dY_W Z[b FWhj_Ze HebZei_ijW ;YkWjeh_Wde FH; " gk[ fed[ [d ZkZW ik _Zed[_ZWZ fWhW fWhj_Y_fWh [d [b YedYkhie" [if[Y_Wbc[dj[" YkWdZe i[ Z[# dkdY_W gk[ [b =eX_[hde be Wki# f_Y_W" fWhW gk[ eYkf[ bW Fh[i_# Z[dY_W Z[b c|i Wbje jh_XkdWb Z[
`kij_Y_W Z[b fW‡i$ I_d [cXWh]e" <WbYed‡ d_[]W bWi WYkiWY_ed[i o Yedi_Z[hW gk[ Z[jh|i Z[ bWi _cfk]dWY_ed[i [i# jWh‡W ÆbW ][dj[ Z[ ?iW‡WiÇ$ IeXh[ 7XZWb| 8kYWhWc o <[hdWdZe Hei[he" Z_`e0 ÆjeZei [iei ied kdei c[hY[dWh_ei h[# ckd[hWZei" gk[ [ij|d Wj[hhe# h_pWZei Z[ de feZ[h YedjWh Yed `k[Y[i gk[ [ijƒd W ik i[hl_Y_e fWhW gk[ b[i Whh[]b[d bWi YeiWi" Yece [d bW ƒfeYW Z[ bW ĂˆF_Y^_# Yehj[É" jeZei bei `k_Y_ei gk[ W‘d de ^Wd i_Ze YedYbk_Zei$
Ć
Æ;i kd WjWgk[ [d bei jƒhc_# dei fhef_ei Z[ [iW XWpeĂ’W$ Feh# gk[ [ie [i be gk[ ied$ >Wd Z[d_# ]hWZe W [ij[ fW‡i o W bW WYj_l_ZWZ feb‡j_YWÇ" Z_`e$ 9kWdZe i[ b[ YedikbjÂŒ ieXh[ ik fei_X_b_ZWZ Z[ i[h [b dk[le j_jkbWh Z[ bW 9I@" <WbYed‡ _dZ_# YÂŒ0 Æde ^[ iWX_Ze gk[ [b ZeYjeh 7b[n_i C[hW j[d]W YkejWi" fehgk[ i_ ^Wo kd fheY[ie f‘Xb_# Ye o jhWdifWh[dj[" gk[ ^W ZWZe fWie W jeZWi [iWi _cfk]dWY_e# d[i" c[ fWh[Y[ kd Z_ifWhWj[ be gk[ jeZW [iW ][djkpW Z_Y[Ç$
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
) % (* ) ) ( (5$ $ " ( * (7 $ ( " " $ * )* " ) " 7 # 6( %" ) $%, # ( " &(% # $*% ) 8 (5 " ) )&%) %$ ) " " # $*% $* ($% & ( " '+ ) 9$ $ ) / %$*( * 9$ (, %) %" : " % %! &+ $ % $ "+) , " %# ) 9$ '+ ) %$ ) " ( ( ) (*% " &(% )% &%( )7 %$, $ ( "%) $* ( ) ) $)* *+ %$ " ) ) $ '+ "%) & (* & $* ) * $ $ ( % ( " #% % $ # $ 0 9$ " +$
ŊěŊ ;d (&&/" [b ,+
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
#2/4_2Ŋ"#Ŋ+ Ŋ 4"(#-!( ĔŊ2#Ŋ"(!3¢Ŋ/1(Ĺ 2(¢-Ŋ/1#5#-3(5 Ŋ!.-31 Ŋ+.2Ŋ".!#-3#2Ŋ8Ŋ ",(-(231 3(5.2ē
ŋ#(0 ,-#š(ŋ* , ŋ &ŋ !,)ŋ- ŋ -. ( ŋ
ć
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
+ĹŠ2#!3.1ĹŠ"#, -"¢Ŋ,#-.2ĹŠ!1_"(3.2ĹŠ#-ĹŠ #23#ĹŠ  .ĔŊ 2~ĹŠ+.ĹŠ"#,4#231 -ĹŠ+ 2ĹŠ!($1 2ĹŠ "#+ĹŠ -!.ĹŠ !(.- +ĹŠ"#ĹŠ .,#-3.Ä“ ;djh[ [d[he o `kb_e Z[ [ij[ W‹e" [b 8Wd# Ye DWY_edWb Z[ <ec[dje 8D< [djh[# ]ÂŒ (( c[dei YhƒZ_jei dk[lei gk[ [b c_ice f[h‡eZe Z[b W‹e Wdj[h_eh$ FWhW [b i[Yjeh" [ie Z[ck[ijhW gk[ bW _dl[hi_ÂŒd [d [b W]he [ij| [ijWdYWZW$ BW \WbjW Z[ i[]kh_ZWZ `kh‡Z_YW" [b Wk# c[dje Z[ fh[Y_ei Z[ bei _dikcei o
¥ ēŊ -Ŋ#23#Ŋ  .Ŋ#+Ŋ2#!3.1Ŋ %1~!.+ Ŋ1#"4).Ŋ+ Ŋ/1."4!!(¢-Ŋ#-Ŋ +%4Ĺ -.2Ŋ!4+3(5.2ēŊ
REPĂšBLICA DEL ECUADOR SUPERINTENDENCIA DE BANCOS INTENDENCIA NACIONAL DE COOPERATIVAS
CODIGO OFICINA: 1128 FORM. 500P
FORM. 201P
BALANCE GENERAL CONSO LIDADO Y CONDENSADO (EN UNIDADES DE DÓLAR) AL 31 DE JULIO DE 2011
ESTADO DE PÉRDIDAS Y GANANCIAS CONSOLIDADO Y CONDENSADO EN UNIDADES DE DÓLAR DEL 1ro. DE ENERO AL 31 DE JULIO DE 2011
ACTIVO CÓDIGO
DESCRIPCIÓN
TOTAL
11 FONDOS DISPONIBLES 1101 Caja 1103 Bancos y otras inst. financieras 1104 Efectos de cobro inmediato 13 INVERSIONES 1301 Para negociar entidades del Sector Privada 1302 Para negociar entidades del Sector Publico 1303 Disponible para la venta sector privado 1305 Mantenidas hasta el vencimiento 1307 De disponibilidad restringuida 1399 Provision para protecc. de valores 14 CARTERA DE CREDITO 1401 Cart.de CrĂŠditos Comercial por Vencer 140105.10.15 De 1 a 180 dias 140120 De 181 a 360 dĂas 140125 De mas de 361 dias 1402 Cart.de CrĂŠditos De Consumo por Vencer 140205.10.15 De 1 a 180 dias 140220 De 181 a 360 dĂas 140225 De mas de 361 dias 1403 Cart.de CrĂŠditos De Vivienda por Vencer 140305.10.15 De 1 a 180 dias 140320 De 181 a 360 dĂas 140325 De mas de 361 dias 1404 Cart.de CrĂŠditos Para Micorempresa por Vencer 140405.10.15 De 1 a 180 dias 140420 De 181 a 360 dĂas 140425 De mas de 361 dias 1405 Cart.de CrĂŠditos Reestructurada Comercial 1406 Cart.de CrĂŠditos Reestructurada Consumo 1407 Cart.de CrĂŠditos Reestructurada Vivienda 1408 Cart.de CrĂŠditos Reestructurada Microempresa 1411 Cart.de CrĂŠditos Comercial Q' no Dev. Intereses 1412 Cart.de CrĂŠditos De Consumo Q' no Dev. Intereses 1413 Cart.de CrĂŠditos De Vivienda Q' no Dev. Intereses 1414 Cart.de CrĂŠditos Microempresa Q' no Dev. Intereses 1415 Cart.de CrĂŠditos Comercial Reestructurada Q' no Dev. Intereses 1416 Cart.de CrĂŠditos Consumo Reestructurada Q' no Dev. Intereses 1417 Cart.de CrĂŠditos Vivienda Reestructurada Q' no Dev. Intereses 1418 Cart.de CrĂŠditos Microempresa Reestructurada Q' no Dev. Intereses 1421 Cart.de CrĂŠditos Comercial Vencida 1422 Cart.de CrĂŠditos De Consumo Vencida 1423 Cart.de CrĂŠditos De Vivienda Vencida 1424 Cart.de CrĂŠditos Microempresa Vencida 1426 Cart.de Consumo Reestructurada Vencida 1428 Cart.de CrĂŠditos Microempresa Reestructurada Vencida 1499 ProvisiĂłn para crĂŠditos incobrables 16 CUENTAS POR COBRAR 17 Bienes realizables adjudicados por pago 18 ACTIVO FIJO 19 OTROS ACTIVOS 1901 Inversiones en acciones y participaciones 1902..1990 Otras cuentas de otros activos 1999 (Provision para otros activos irrecuperables) 1 TOTAL DEL ACTIVO 4 GASTOS TOTAL GENERAL. ACTIVO Y GASTOS
3,034,398.471101 308,067.97 2,705,676.66 20,653.84 2,573,502.85 0.00 0.00 136,427.84 2,463,069.99 0.00 -25,994.98 53,966,357.55 723,686.03 218,131.37 152,696.32 352,858.34 9,572,118.66 2,524,537.95 2,254,497.16 4,793,083.55 5,053,797.10 668,502.69 656,309.64 3,728,984.77 39,691,788.25 10,690,329.79 8,896,648.33 20,104,810.13 0.00 0.00 0.00 0.00 1,287.88 238,228.87 50,538.48 1,739,864.27 0.00 0.00 0.00 69,596.24 148,057.99 47,826.29 1,044,941.13 1.00 2,200.05 -4,417,574.69 703,636.00 8,573.80 1,827,987.33 768,206.49 56,528.52 730,752.25 -19,074.28 62,882,662.49 5,132,504.23 68,015,166.72
OBLIGACIONES CON EL PUBLICO Depositos a la vista Depositos a plazo De 1 a 30 dias De 31 a 90 dĂas De 91 a 180 dĂas De 181 a 360 dĂas De mas de 361 dias Depositos Restringidos OBLIGACIONES INMEDIATAS CUENTAS POR PAGAR OBLIGACIONES FINANCIERAS OTROS PASIVOS TOTAL DEL PASIVO
39,650,168.92 20,260,710.07 17,859,766.76 2,401,457.24 4,379,087.13 3,760,333.46 2,617,282.56 4,701,606.37 1,529,692.09 28,571.37 1,130,716.14 13,649,365.92 413,652.12 54,872,474.47
PATRIMONIO 31 3103 33 3301 3303 3305 34 35 36 3602 3603 3 5
CAPITAL SOCIAL Aportes de socios RESERVAS Legales Especiales Revalorizacion del patrimonio OTROS APORTES PATRIMONIALES SUPERAVIT POR VALUACIONES RESULTADOS Perdidas acumuladas Utilidad del ejercicio TOTAL DE PATRIMONIO INGRESOS TOTAL PASIVO PAT. E INGRESOS.
5,610,808.89 5,610,808.89 945,822.84 918,165.62 0.00 27,657.22 1,460,421.02 180,819.85 -444,555.44 -444,555.44 0.00 7,753,317.16 5,389,375.09 68,015,166.72
41 42
1,219,664.78 0.00
Intereses causados Comisiones Causadas
Avales, fianzas y cartas de crÊdito Cartas de Crèdito Creditos aprobados y no desembolsados TOTAL CUENTAS CONTINGENTES
71 7101 7102 7103 7105 7107 7109 7190 74 7401 7402 7404 7407 7414 7415 7416 7
Deudoras Bienes y valores propios en poder de terceros Activos propios en poder de terceros entregados en garantia Activos castigados Operaciones activas con empresas vinculadas Cartera de credito y otros activos en demanda Interes, comisiones y otros ingresos en suspenso Otras cuentas de orden deudoras Acreedoras Valores y bienes recibidos de terceros Operaciones pasivas con empresas vinculadas Dep y Captaciones no cubiertos por el COSEDE Depositos de entidades del sector publico Provisiones constituidas Depòsitos o captaciones constituidos como garantia de prèstamos Interes pagado en Depòsitos o captaciones constituidos como gar. TOTAL CUENTAS DE ORDEN
113,316.60 0.00 336,820.00 450,136.60
CUENTAS DE ORDEN 20,542,555.32 5,000.00 12,546,185.00 1,023,401.81 560,037.07 2,143,763.75 269,170.95 3,994,996.74 167,650,113.52 132,318,248.09 7,766,100.45 24,850,805.74 106,638.26 1,637,090.07 802,986.48 168,244.43 188,192,668.84
1 1.1 1.2 1.3 2 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 3 3.1 3.2 3.3 3.4 4 4.1 4.2 5 5.1 5.2 5.3
CAPITAL COBERTURA PATRIMONIAL DE ACTIVOS PAT.TEC./ ACTIVOS Y CONTINGENTES PONDERADOS POR RIESGO PATRIMONIO SECUNDARIO/PATRIMONIO PRIMARIO CALIDAD DE ACTIVOS MOROSIDAD BRUTA TOTAL MOROSIDAD CARTERA COMERCIAL MOROSIDAD CARTERA CONSUMO MOROSIDAD CARTERA DE VIVIENDA MOROSIDAD CARTERA DE MICROEMPRESA PROVISIONES / CARTERA DE CREDITO IMPRODUCTIVA COBERTURA CARTERA COMERCIAL COBERTURA CARTERA CONSUMO COBERTURA CARTERA VIVIENDA COBERTURA CARTERA MICROEMPRESA MANEJO ADMINISTRATIVO ACTIVOS PRODUCTIVOS / PASIVOS CON COSTO GRADO DE ABSORCIÓN-GASTOS OPERACIONALES/MARGEN FINANCIERO GASTOS DEL PERSONAL / ACTIVO TOTAL PROMEDIO GASTOS OPERATIVOS / ACTIVO TOTAL PROMEDIO RENTABILIDAD RENDIMIENTO OPERATIVO SOBRE ACTIVO - ROA RENDIMIENTO SOBRE PATRIMONIO - ROE LIQUIDEZ FONDOS DISPONIBLES / TOTAL DEPOSITOS A CORTO PLAZO COBERTURA 25 MAYORES DEPOSITANTES: COBERTURA 100 MAYORES DEPOSITANTES:
Dr. Carlos MazĂłn GERENTE GENERAL
COOP.
SECTOR
367.97% 14.37 14.15
478.97% 16.68% 24.65%
5.73% 8.92% 3.88% 1.91% 6.56% 132.16% 108.35% 156.55% 99.95% 130.52%
3.64% 2.72% 2.89% 2.01% 5.01% 132.88% 141.21% 138.15% 140.34% 128.11%
113.68% 91.61% 4.32% 7.54%
116.02% 75.69% 2.82% 5.95%
0.72% 5.69%
1.85% 12.74%
11.22% 32.35% 37.95%
18.49% 190.77% 140.21%
1,219,664.78
3,875,542.36
OTROS INGRESOS Y GASTOS OPERACIONALES
-2,392,158.30
INGRESOS OPERACIONALES 53 55
88,424.77
Utilidades Financieras Otros ingresos operacionales
10,095.60 78,329.17
EGRESOS OPERACIONALES
2,479,898.79 684.28 1,483,384.06
PROVISIONES, DEPRECIACIONES Y AMORTIZACIONES
1,159,971.84
Provisiones Depreciaciones Amortizaciones
957,004.23 158,323.57 44,644.04
MARGEN OPERACIONAL NETO
323,412.22
INGRESOS Y GASTOS NO OPERACIONALES 56 47 48
-66,541.36
Otros ingresos Otros gastos y pĂŠrdidas Impuestos y participaciones empleados
205,743.18 131,522.48 140,762.06
RESULTADO DEL EJERCICIO
FORM. 201 P
DESCRIPCIÓN
VALOR CONFORMACION PATRIMONIO TECNICO TOTAL PATRIMONIO TECNICO PRIMARIO
31 3301 330310 34-340210 -3490 3601 0.00 3602 A
Capital social (1) Reservas legales Reservas especiales para futuras capitalizaciones
5,330,268.45 918,165.62 0.00
Otros aportes patrimoniales Utilidad o excedentes acumulados - saldos auditados(2)
1,415,429.94
PĂŠrdidas Acumuladas- Saldos Auditados(2) TOTAL PATRIMONIO TECNICO PRIMARIO PAT R I M O N I O T E C N I C O S E C U N D A R I O
-444,555.44 7,219,308.57
3303 3305 35 3601 3603 (5 - 4) Mas 149930 (valor Absoluto) Menos
Reservas especiales Reserva por revalorizaciĂłn del patrimonio 45% superavit por valuaciones Utilidades o excedentes acumulados(2) Utilidad del ejercicio (5) Ingresos menos gastos (6)
0.00 27,657.22 81,368.93 0.00 0.00 256,870.86
655,465.00
F
(ProvisiĂłn General para Cartera de CrĂŠditos)(7) Deficiencia de provisiones PĂŠrdidas activadas que fueren detectadas a travĂŠs de auditorias de la propia entidad, de la Sup. De Bancos o de las auditorias externas y el valor de los aumentos de capital realizados contraviniendo las disposiciones del artĂculo 125 de la ley de la CodificaciĂłn de la LGISF. Pago de dividendos anticipados TOTAL PATRIMONIO TECNICO SECUNDARIO TOTAL DEL PATRIMONIO TECNICO DEDUCCIONES AL PATRIMONIO T. TOTAL PATRIMONIO TECNICO CONSTITUIDO ACTIVOS Y CONTINGENT.PONDERADOS POR RIESGO Activos Ponderados con 0.10 Activos Ponderados con 0.20 Activos Ponderados con 0.40 Activos Ponderados con 0.50 Activos Ponderados con 1.00 TOTAL ACT. PONDERADOS POR RIESGO
G=F * 9% H= E - G
PATRIMONIO TECNICO REQUERIDO9% EXCEDENTE O DEFICIENCIA DE P.T. REQUERIDO
1613 B C = A+ B D E=C-D
0.00 1,021,362.02 8,240,670.58 0.00 8,240,670.58 0.00 0.00 0.00 2,408,442.53 54,935,654.59 57,344,097.12
5,160,968.74 3,079,701.84
2,533,311.96
NOTAS TÉCNICAS - La cartera comercial vencida se registra en la respectiva cuenta a los 30 dĂas que el documento se venciĂł y los intereses y comisiones ganados y no cobrados se reversan de las cuentas de resultados a los 30 dĂas y se registran para efectos de control en una cuenta de orden. Para el caso de cuotas o dividendos de la cartera comercial y de vivienda vencidas, con garantia hipotecaria, se transfieren a la cuenta correspondiente de vencido a los 60 dĂas posteriores a la fecha de vencimiento de la operaciĂłn, sin perjuicio del cobro de los intereses de mora correspondientes. La cartera de consumo se registrarĂĄn los saldos en cartera vencida a los quince de ser exigibles; y, las operaciones de microcrĂŠdito, a los cinco dĂas. Los intereses y comisiones se reversan por no haber sido cancelados dentro de los 30 dĂ?as posteriores a su exigibilidad de pago, se registrarĂĄn, para efectos de control, en la subcuenta de orden 710605 "Intereses en suspenso - Vencidos". Igual procedimiento se efectuarĂĄ para el reverso a los 60 dĂas, de las cuotas o dividendos de los crĂŠditos de amortizaciĂłn gradual de la cartera comercial y de vivienda; a los quince (15) dĂas la cartera de consumo; y a los cinco (5) dĂas en las operaciones de microcrĂŠdito. - El saldo de resultados del ejercicio corresponde a la diferencia de los elementos 5 y 4, sin que implique la liquidaciĂłn de las referidas cuentas
MCA-CPA Silvia Maldonado S CONTADORA GENERAL
%$,% " ) & ()%$ ) $ *+( " ) / % !+(7 ) $ %$ " ) % .*( $! ( ) % )% %$ ) 6)* ) %# " ) $ " & 7) / " "# $* & * ) $ ! ( ( * , ) %# ( " ) $ " + %( & ( '+ &( ) $* $ )+) % (* ) & ( " + 9$ " 4( + %) $* $) ,%) %" : " % %! ) %$ %$ ) $ ( " ) )* %$,% *%( )%$ " ) ) + $* )
POSICION, REQUERIMIENTO Y RELACIÓN DE PATRIMONIO TECNICO
Lcdo. Pablo Garrido AUDITOR GENERAL
256,870.86
RELACIÓN ENTRE EL PATRIMONIO TÉCNICO Y LOS ACTIVOS Y CONTINGENTES PONDERADOS POR RIESGO (EN UNIDADES DE DÓLAR) CÓDIGO
BW ikcW Z[ dk[lei o h[delW# Y_ed[i" i_d [cXWh]e" h[]_ijhW YedijWd [djh[ bWi YWkiWi gk[ kd Z[Yh[Y_c_[dje Z[ ('"' $ CWkh_Y_e 8kijWcWdj[" fh[i_# WfkdjWd bei fheZkYjeh[i$ I[]‘d bei ZWjei Z[b 8D<" Z[dj[ Z[ bW 9|cWhW Z[ 7]h_Ykb# ^WijW `kb_e Z[ (&'' i[ [djh[# jkhW Z[ bW Fh_c[hW PedW" _dZ_YÂŒ ]Whed /($/-( YhƒZ_jei" feh kd gk[ Æ[b i[Yjeh de ^W Z[cWdZW# cedje Z[ Wbh[Z[Zeh Ze YhƒZ_je fehgk[ de Z[ ))+"*, c_bbed[i ĹŠ [ij| _dj[h[iWZe [d ^WY[h Z[ ZÂŒbWh[i$ ;b c_i# dk[lWi _dl[hi_ed[iÇ$ ce f[h‡eZe Z[ (&'&" [d YWcX_e" i[ [djh[# 1 ĹŠ+ ĹŠ !3(5(" "ĹŠ 42 2ĹŠ8ĹŠ,;2ĹŠ $#!3 ".2 /#!4 1( ĔŊ#+ĹŠ ĹŠ ]Whed (,)$.), fhƒi# #-ĹŠ#+ĹŠ/#1~.".ĹŠ"#ĹŠ I[]‘d 8kijWcWdj[ de jWcei feh *)*"(, #-#1.ĹŠ ĹŠ)4-(.ĹŠ"#ĹŠ ^Wo Z[cWdZW" ieXh[ jeZe" Ä‰Ä‡ÄˆÄˆÄ”ĹŠ#-31#%¢Ŋ c_bbed[i Z[ ZÂŒbWh[i$ ĒēćĉđŊ!1_"(3.2ĔŊ feh bW \WbjW Z[ i[]kh_ZWZ +.ĹŠ04#ĹŠ1#/1#2#-Äą ;ije i_]d_Ă’YW" gk[ [d 3¢Ŋ4- ĹŠ"(2,(-4Äą `kh‡Z_YW Z[b fW‡i$ ÆBei [ij[ W‹e i[ [djh[]W# !(¢-ĹŠ"#ĹŠÄ?Ä?Ä”Ä‘Ä‡Ĺ˜Ä“ YWcf[i_dei j_[d[d c_[# hed '-&$.,* YhƒZ_jei Ze" fehgk[ ^Wo ckY^ei o /. c_bbed[i Z[ ZÂŒ# YWcX_ei [d bWi h[]bWi Z[ `k[]e" ^Wo c|i _cfk[ijei o bWh[i c[dei$ I_ i[ jecWd [d Yk[djW bWi bW _dl[hi_ÂŒd i[]k_h| [ijWdYWZW h[delWY_ed[i" i[ eXi[hlW gk[ fehgk[ W‘d \WbjWd feh Z[Ă’d_hi[" ^kXe kd _dYh[c[dje Z[ '. feh [`[cfbe" bWi b[o[i Z[ W]kW o h[if[Yje W (&'&$ ;d [b W‹e fW# j_[hhWÇ" WdejÂŒ$ Bei i[Yjeh[i gk[ Z[`Whed Z[ iWZe" [d jejWb i[ h[[ijhkYjkhW# hed e h[delWhed *$-*- YhƒZ_jei _dl[hj_h [d cWoeh YWdj_ZWZ ied feh c|i Z[ '- c_bbed[i Z[ ZÂŒ# bei Z[ij_dWZei Wb Ykbj_le Z[ fhe# bWh[i$ ;d [ij[ W‹e i[ h[delW# ZkYjei Z[ Y_Ybe Yehje$
0.00
MARGEN OPERACIONAL ANTES PROVISIONES
44 4505 4506
ĹŠ1# +(" "
2,480,583.07
43 PĂŠrdidas Financieras 45-45054506 Gastos de operaciĂłn 46 Otras pĂŠrdidas operacionales
ACTIVOS TOTALES Y CONTINGENT. (4%)
INDICADORES FINANCIEROS
TOTAL
5,095,207.14
MARGEN BRUTO FINANCIERO
CUENTAS CONTINGENTES 6402 6403 6404 6
PARCIAL
5,082,365.40 1,729.18 11,112.56
PASIVO 21 2101 2103 210305 210310 210315 210320 210325 2105 23 25 26 29 2
DESCRIPCIÓN
CÓDIGO
INGRESOS FINANCIEROS 51 Intereses y descuentos ganados 52 Comisiones ganadas 54 Ingresos por servicios EGRESOS FINANCIEROS
hed *$,.&" f[he [b cedje \k[ c|i Wbje0 (' c_bbed[i Z[ ZÂŒbWh[i$
%) ( '+ ( # $*%) )% ( " ) ( * (7)* ) " + 9$ " ) &% (5 $ %$*( ( $ " &5 $ - %" --- )%" "%! # " & % '+ $ ( " &( ) $* %$ +()% %#& ( 9$ &( %) ) ( " 0 (5 $ " %(# / %$ %$ ) '+ ) )* " 0 $ %#:$ + ( % $*( " &(%, %( / " $) * *+ 9$ %$*( * $* ) % (* ) ) ( (5$ $ " ( * (7 $ ( " " $* )* " ) " 7 # 6( %" ) $%, # (
+ % %$ "+ " $)* " 9$ " ) + %$ ) ) &(% (5 ( " 0 ( " * $*( ( & 9$ %(( ) &%$ $* " &(% # $*% ) 8 (5 " ) )&%) %$ ) " " # $* $* ($% & ( " '+ ) 9$ $ ) / %$*( * 9$ (, %) %" : " % %! &+ $ % $ "+) , " %# ) 9$ '+ ) %$ ) " ( ( ) (*% " &(% )% &%( )7 %$, $ ( "%) $* ( ) ) $)* *+ %$ " ) ) $ '+ "%) & (* & $* ) * $ $ ( % ( " #% % $ #$ 0 9$ " +$
Ab- 30070-cl
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
Ĉ
/& ŋ#(# # ŋ")3 & ŋ+/#'#). , *# ŋ Ŋ Ĺ ĔŊ Ŋě ;b [nfh[#
ēŊ -Ŋ2.+" ".Ŋ!423."( Ŋ+ Ŋ#-31 " Ŋ"#Ŋ+.2Ŋ!#-31.2Ŋ"#Ŋ5.3 !(¢-Ŋ 8#1ē
4+/# , #-. ŋ! ( ŋŋ & & v ŋ ŋ )!).6ŋ
ĹŠ).1- " ĹŠ$4#ĹŠ ! +(ă! " ĹŠ!.,.ĹŠ ÄĽ31 -04(+ ÄŚĹŠ/.1ĹŠ . 2#15 ".1#2ĹŠ8ĹŠ 43.1(" "#2Ä“ :ĔŊ Äą ĹŠ ěŊ ;b _pgk_[hZ_i#
jW =kijWle F[jhe [dYWX[pWXW [b [iYhkj_d_e feh bW 7bYWbZ‡W Z[ 8e]ej| Yed )("', Z[ bei lejei \h[dj[ Wb b‡Z[h Z[ Y[djheZ[h[Y^W ;dh_gk[ F[‹WbeiW (+"&- " jhWi YedjWX_b_pWhi[ [b /*"+* Z[ bWi c[iWi" _d\ehcŒ bW Wkjeh_ZWZ
43.1(" "#2
.3 -3#2ĹŠ#2!.%(#1.-ĹŠ
Ĺ—ĹŠĹŠÄˆÄ“ÄˆÄ‡Ä‰ĹŠ +! +"#2ĹŠ ŗŊŊĊĉŊ%. #1- ".1#2 Ĺ—ĹŠĹŠÄŒÄˆÄ‘ĹŠ"(/43 ".2ĹŠ"#/ 13 ,#-3 +#2 Ĺ—ĹŠĹŠÄˆÄ‰Ä“Ä‡Ä?ÄŠĹŠ!.-!#) +#2ĹŠ,4-(!(/ +#2ĹŠ8ĹŠ
ČēÄ?ĉÄ?ĹŠ#"(+#2
(Ŋ++ , ".Ŋ Ŋ+.2Ŋ !.+., ( -.2Ŋ#2Ŋ04#Ŋ+#Ŋ "#,.2Ŋ +Ŋ,4-".Ŋ4- Ŋ -4#5 Ŋ"#,.231 !(¢-Ŋ"#Ŋ04#Ŋ .+., ( Ŋ#2Ŋ4- Ŋ"#,.Ĺ !1 !( Ŋ !34 -3#ĔŊ#$#!3(5 Ŋ8Ŋ 31 -2/ 1#-3#Ģē
ĹŠ ĹŠ ĹŠ ĹŠ
[b[YjehWb$ F[jhe" Z[ +' W‹ei" fWhj_Y_fW [d [ijWi [b[YY_ed[i Yed [b cel_# c_[dje Fhe]h[i_ijWi" kdW Z_i_# Z[dY_W [b fWhj_Ze Febe :[ceYh|# j_Ye" gk[ WYjkWbc[dj[ ]eX_[hdW [d bW 7bYWbZ‡W Z[ bW YWf_jWb$ F[jhe" Z[b Z_ik[bje Cel_c_[dje '/ Z[ 7Xh_b C#'/ " f[hj[d[Y_ÂŒ ^Wi# jW ^WY[ Wb]kdei c[i[i Wb F:7" Z[b gk[ i[ WfWhjÂŒ feh Z_iYh[fWdY_Wi jhWi Z[dkdY_Wh YehhkfY_ÂŒd [d ik i[de1 [djedY[i Yed\ehcÂŒ [b Cel_# c_[dje Fhe]h[i_ijWi$ 7o[h" bei YebecX_Wdei lejWhed [d [b[YY_ed[i h[]_edWb[i" [d kdW `ehdWZW YWjWbe]WZW Z[ ÆjhWdgk_# bWÇ feh eXi[hlWZeh[i o Wkjeh_ZW# Z[i" bk[]e Z[ kdW YWcfW‹W [d#
3 04# ŗŊŊŊ 1(#+Ŋ #+% "(++.ĔŊ!.-"4!3.1Ŋ "#+Ŋ5(!#/1#2("#-3#Ŋ"#Ŋ+ Ŋ ;, 1 Ŋ
"#ĹŠ #/1#2#-3 -3#2ĹŠ"#ĹŠ .+., ( ĔŊ + #(1.ĹŠ -#% 2ĹŠ 2.1(.ĔŊ,41(¢Ŋ 8#1ĹŠ 31 2ĹŠ#+ĹŠ 3#-3 ".ĹŠ04#ĹŠ24$1(#1.-ĹŠ!4 -".ĹŠ 5( ) -ĹŠ/.1ĹŠ4- ĹŠ! 11#3#1 ĹŠ"#+ĹŠ"#/ 1Äą 3 ,#-3.ĹŠ"#ĹŠ 1 4! ĔŊ#23#ĹŠ"#+ĹŠ/ ~2ēŊ #+% "(++.ĔŊ"#ĹŠÄŒÄŽĹŠ  .2ĔŊ1#!( (¢Ŋ +ĹŠ,#-.2ĹŠ4-ĹŠ"(2/ 1.ĹŠ8ĹŠ$4#ĹŠ31 2+ " Äą ".ĹŠ +ĹŠ'.2/(3 +ĹŠ"#ĹŠ ,#ĔŊ/#1.ĹŠ$ ++#Äą !(¢Ŋ!4 -".ĹŠ#1 ĹŠ 3#-"(".ĔŊ2# + 1.-ĹŠ $4#-3#2ĹŠ,(+(3 1#2ĹŠ ĹŠ/#1(."(23 2ĹŠ#-ĹŠ 1 4! ēŊ
iecXh[Y_ZW feh bW l_eb[dY_W o bWi Z[dkdY_Wi Z[ YehhkfY_ÂŒd$ ÆI[dj_cei bW iWj_i\WYY_ÂŒd Z[ kdW `ehdWZW jhWdiYkhh_# ZW [d dehcWb_ZWZ$ IÂŒbe i[ fh[i[djWhed eY^e _dY_Z[d# j[i l_eb[djei $ F[he \h[dj[ W bWi [nf[YjWj_lWi gk[ ^WX‡W [i cko iWj_i\WYjeh_e gk[ i[ ^WoW ]WhWdj_pWZe bW i[]kh_ZWZ fWhW [b b_Xh[ [`[hY_Y_e Z[b lejeÇ" Z[# YbWhÂŒ [b c_d_ijhe Z[b ?dj[h_eh"
ēŊ 423 5.Ŋ #31.Ŋ2#1;Ŋ#+Ŋ +! +"#Ŋ"#Ŋ .%.3;ē
4 3#, + ĹŠ8ĹŠ 2/ Â
+#!!(.-#2Ŋ/ 1 Ŋ/1#2("#-!( +#2 ŊŊ +Ŋ 1( 4- +Ŋ 4/1#,.Ŋ +#!3.1 +Ŋĸ ĚŊ"#Ŋ ŗ 4 3#, + Ŋ(-(!(¢Ŋ 8#1Ŋ+.2Ŋ/1#/ 1 3(5.2Ŋ
/ 1 ĹŠ+ 2ĹŠ#+#!!(.-#2ĹŠ"#ĹŠ2#%4-" ĹŠ54#+3 ĹŠ#+ĹŠ /1¢7(,.ĹŠ".,(-%.ĔŊ,(#-31 2ĹŠ04#ĹŠ+.2ĹŠ! -"(Äą " 3.2ĹŠ04#ĹŠ2#ĹŠ"(2/43 1;-ĹŠ+ ĹŠ 1#2("#-!( ĔŊ#-ĹŠ + ĹŠ1#!3 ĹŠÄƒ- +ĹŠ"#ĹŠ242ĹŠ! ,/  2ĔŊ2#ĹŠ $ - -ĹŠ #-ĹŠ!.-5#-!#1ĹŠ ĹŠ+.2ĹŠ5.3 -3#2Ä“ ĹŠĹŠ -ĹŠ 2/  ĔŊ#+ĹŠ./.2(3.1ĹŠ 13(".ĹŠ ./4+ 1ĹŠ Ĺ—% - 1~ ĹŠ#-ĹŠ+ 2ĹŠ#+#!!(.-#2ĹŠ"#+ĹŠ/1¢7(,.ŊĉćŊ
"#ĹŠ-.5(#, 1#ĹŠ#-ĹŠÄŒÄ‰ĹŠ/1.5(-!( 2ĔŊ,(#-31 2ĹŠ 04#ĹŠ#+ĹŠ%. #1- -3#ĹŠ ĹŠ2¢+.ĹŠ2#ĹŠ(,/.-"1~ ĹŠ #-ŊĎĔŊ2#%ĂŒ-ĹŠ+ ĹŠ#-!4#23 ĹŠ/4 +(! " ĹŠ 8#1ĹŠ/.1ĹŠ 4-ĹŠ"( 1(.Ä“
=[hc|d LWh]Wi$ BW ED= C_i_ÂŒd Z[ EXi[hlW# Y_ÂŒd ;b[YjehWb h[iWbjÂŒ gk[ ÆbWi c[# Z_ZWi WZefjWZWi feh [b =eX_[hde" Yed bei fWhj_Zei feb‡j_Yei o bWi eh]Wd_pWY_ed[i de ]kX[hdWc[d# jWb[i" ^Wd h[ikbjWZe XWijWdj[ [\[Y# j_lWiÇ fWhW ]WhWdj_pWh [b leje$
i_Z[dj[ XhWi_b[‹e Bk_p ?d|Y_e BkbW ZW I_blW" W gk_[d i[ b[ Z[j[Y# jÂŒ kd Y|dY[h [d bW bWh_d][" [ij| Z[ Æcko Xk[d ^kcehÇ o Æb_ijeÇ fWhW [b jhWjWc_[dje Z[ gk_c_ej[hWf_W gk[ Yec[dpWh| ^eo" Z_`[hed Wo[h \k[dj[i cƒZ_YWi$ Æ;ij| cko jhWdgk_be" jhWdifW# h[dj[" iWX[ f[h\[YjWc[dj[ be gk[ fWiW" be gk[ l_[d[" be gk[ b[ \k[ Z_W]deij_YWZe o [b jhWjWc_[dje Wb gk[ Z[X[h| i[h iec[j_ZeÇ" Z_`e HeX[hje AWb_b <_b^e" kde Z[ bei c_[cXhei Z[b [gk_fe cƒZ_Ye gk[ Wj_[dZ[ Wb [ncWdZWjWh_e$ ;b Y|dY[h [d bW bWh_d][ b[ \k[ Z[j[YjWZe [ij[ i|XWZe feh bei [i# f[Y_Wb_ijWi Z[b >eif_jWb I_h_e B_# XWdƒi Z[ IWe FWkbe" gk[ W fWhj_h Z[ ^eo Yec[dpWh|d W iec[j[hb[ W i[i_ed[i Z[ gk_c_ej[hWf_W gk[" [d fh_dY_f_e" i[ fhebed]Wh|d Zk# hWdj[ kdei jh[i c[i[i$
';5#9Ŋ2#Ŋ2.+(" 1(9¢
;b fh[i_Z[dj[ Z[ L[d[pk[bW" >k]e 9^|l[p" i[ ieb_ZWh_pÂŒ Wo[h Yed BkbW o b[ Z[i[ÂŒ" Z[iZ[ bW [n# f[h_[dY_W gk[ ^W l_l_Ze Z[ifkƒi Z[ gk[ b[ [nj_hfWhWd kd jkceh YWdY[heie" ik fhedjW c[`eh‡W$ Æ;d decXh[ Z[ jeZe [b fk[# Xbe l[d[pebWde o Z[iZ[ bW [nf[# h_[dY_W gk[ ^[ l_l_Ze Wb ^WX[h [d\h[djWZe kdW i_jkWY_ÂŒd i_c_# bWh" gk_[he [nfh[iWh" Z[iZ[ bW ^[hcWdZWZ gk[ dei kd[ Wb Yec# fW‹[he BkbW" c_ ^edZe Z[i[e Z[ gk[ [b jhWjWc_[dje Wb YkWb i[ iec[j[h| [d bWi fhÂŒn_cWi i[cW# dWi f[hc_jW ik fhedjW h[Ykf[hW# Y_ÂŒdÇ" h[pW kd Yeckd_YWZe Z[ bW Fh[i_Z[dY_W l[d[pebWdW$
.2Ŋ#23 ,.2Ŋ#2/#!( Ĺ +(9 -".Ŋ#-Ŋ ,_1(! Ŋ "#+Ŋ 41Ŋ#-Ŋ#-$1#-3 1Ŋ8Ŋ "#11.3 1Ŋ#+Ŋ!;-!#1Ģē Ŋ :
ĹŠ ĹŠ
ĉ
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
3 -ĹŠ ĹŠ2(! 1(.2
+ -!#ĹŠ"#+ĹŠ2(2,.
Z[b dWhYejh|Ă’Ye ckh_[hed Z[ifkƒi Z[ kd WjWgk[ YedjhW kdW _dijWbWY_ÂŒd feb_Y_Wb [d [b ckd_Y_f_e Z[ 8eYW Z[b H‡e" Z[b [ijWZe Z[ L[hWYhkp" [d [b =eb# \e Z[ Cƒn_Ye$ <k[dj[i eĂ’Y_Wb[i Z[b =eX_[hde Z[b [ijWZe fh[Y_# iWhed gk[ bei ^[Y^ei ikY[Z_[# hed Wo[h [d bW pedW jkh‡ij_YW Z[b fk[hje Z[ L[hWYhkp" ZedZ[ ]hkfei WhcWZei WjWYWhed bW i[Z[ Z[ bW Feb_Y‡W ?dj[hckd_Y_# fWb L[hWYhkp#8eYW Z[b H‡e$
bW YeijW Y[djhWb Z[ F[h‘ Z[`ÂŒ .) ^[h_Zei" '$**+ ZWcd_Ă’YWZei o /+ l_l_[dZWi Z[ijhk_ZWi [d bW h[]_ÂŒd ?YW" _d\ehcÂŒ Wo[h [b ?dij_jkje DW# Y_edWb Z[ :[\[diW 9_l_b ?dZ[Y_ $ ;b h[fehj[ eĂ’Y_Wb i[‹WbÂŒ" WZ[c|i" gk[ ejhWi ($+-& f[hiedWi h[ikb# jWhed W\[YjWZWi" '/* l_l_[dZWi \k[hed Z[YbWhWZWi _d^WX_jWXb[i" o ejhWi +'* l_l_[dZWi" ( j[cfbei o ' Y[djhe Z[ iWbkZ h[ikbjWhed W\[YjWZei$
., 1"#.ĹŠ _1#.
ŗŊ ŊŊ ĔŊ ŊěŊBW EÒY_dW Z[b 7bje 9ec_i_edWZe Z[ bWi
ŗŊ ŊŊ c[dei jh[i fh[ikdjei i_YWh_ei Ŋĸ ^ ĚĔŊ Ŋě 7b
Ĺ—ĹŠ ĹŠĹŠ '& f[hiedWi ckh_[hed Wo[h o
ĔŊ ŊěŊ7b c[dei
c|i Z[ +& h[ikbjWhed ^[h_ZWi jhWi kd XecXWhZ[e Wƒh[e ieXh[ bW Y_kZWZ Z[ @_b_X" kdei ')& a_bŒc[jhei Wb dehj[ Z[ bW Y_kZWZ Yeij[hW Z[ A_icWWoe$ >Wb_cW Ce^Wc[Z" kdW Z[ bWi [d\[hc[hWi Z[b >eif_jWb Z[ CWhWh[o" Z_`e gk[ ^WijW ik Y[djhe ^Wd bb[]WZe '& YWZ|l[# h[i o gk[ *& Z[ bei ++ ^[h_Zei" dk[l[ Z[ [bbei [d cko ]hWl[ [ijWZe" [ij|d h[Y_X_[dZe Wbb‡ jhWjWc_[dje cƒZ_Ye$
Ĺ—ĹŠ ĹŠĹŠ ĔŊ š ;b i_ice Z[ ,"- ]hW# Zei gk[ W\[YjÂŒ [b l_[hd[i fWiWZe
(-!' ,(#-3.2 #-ĹŠ 4 3#, +
DWY_ed[i Kd_ZWi fWhW bei :[# h[Y^ei >kcWdei [d =kWj[cWbW cWd_\[ijÂŒ Wo[h ik Æfhe\kdZW fh[eYkfWY_ÂŒdÇ feh [b ÆWbWhcWdj[Ç _dYh[c[dje Z[ bei b_dY^Wc_[djei [d [b fW‡i" gk[ [d be gk[ lW Z[ [ij[ W‹e ^Wd WbYWdpWZe bei ()* YWiei$ ÆBei Y_dYe YWiei Z[ b_dY^Wc_[dje eYkhh_Zei [d eYjkXh[" [d bei gk[ YkWjhe f[hiedWi f[hZ_[hed bW l_ZW o Y_dYe h[ikbjWhed ^[h_ZWi" Yed# Ă’hcWd bW j[dZ[dY_W Wb WbpW gk[ i[ ^W eXi[hlWZe ZkhWdj[ [b fh[i[dj[ W‹eÇ" i[‹WbÂŒ [iW EĂ’Y_dW$
ēŊ .2ĹŠ" ,-(ă! ".2ĹŠ/.1ĹŠ+ 2ĹŠ(-4-" !(.-#2ĹŠ#-ĹŠ (+ -"( ĹŠ"4#1,#-ĹŠ#-ĹŠ#+ĹŠ 23 "(.ĹŠ !(.- +ĹŠ ) , -% + ĹŠ#-ĹŠ -%Äą *.*ĔŊ (+ -"( Ä“
(/( #)( /- (ŋ3 ŋýĂÝ '/ ,.)-ŋ
+Ŋ . (#1-.Ŋ/1#"().Ŋ04#Ŋ;1# 2Ŋ/+ - 2Ŋ #23 1~ -Ŋ -#% " 2Ŋ' 23 Ŋ4-Ŋ,#2Ŋ Ŋ ! 42 Ŋ"#+Ŋ! 4" +Ŋ"#Ŋ %4 ē ĹŊ Ŋ Ŋ ĔŊ Ŋ ě BWi Wkjeh_ZWZ[i Z[ JW_bWdZ_W
[b[lWhed Wo[h W ).' [b d‘c[he Z[ ck[hjei YWkiWZei feh bWi _dkd# ZWY_ed[i gk[ W\[YjWd W fhel_d#
Y_Wi Z[ bW c[i[jW Y[djhWb o W pedWi Z[ 8Wd]aea" ZedZ[ i[]‘d [b =eX_[hde bW i_jkW# Y_Œd j[dZ[h| W c[`ehWh [d bei fhŒn_cei Z‡Wi$ ;b 9[djhe fWhW bW Fh[l[d# Y_Œd o C_j_]WY_Œd Z[ :[iWi# jh[i _dZ_YŒ gk[" WZ[c|i" ejhWi Zei f[hiedWi [ij|d ZWZWi feh Z[iWfWh[Y_ZWi o gk[ '** Ye# cWhYWi Z[ (, fhel_dY_Wi f[h# cWd[Y[d Wd[]WZWi$ 7kdgk[ bW cWoeh fWhj[ Z[ bei Z_ijh_jei Z[b Y[djhe Z[ 8Wd]aea ^Wd [iYWfWZe Z[ cec[dje W bWi _dkdZWY_e# d[i" [nj[diWi |h[Wi i_jkWZWi Wb dehj[ o [b [ij[ Yed kdW WbjW Z[di_ZWZ Z[ feXbWY_Œd ^Wd gk[ZWZe Wd[]WZWi feh bW jhecXW Z[ W]kW gk[ XW`W [d Z_h[YY_Œd Wb cWh e [b Z[iXeh#
+Ŋ / Ŋ1#9¢Ŋ/.1Ŋ + 2Ŋ5~!3(, 2 ŊŊŊ +Ŋ/ / Ŋ #-#"(!3.Ŋ Ŋ#7/1#2¢ŊŊ ŗ 8#1Ŋ24Ŋ!#1! -~ Ŋ!.-Ŋ+ 2Ŋ5~!3(, 2Ŋ"#Ŋ
+ 2Ŋ(-4-" !(.-#2Ŋ#-Ŋ (+ -"( ēŊĥ 4#Ĺ 1(".2Ŋ'#1, -.2Ŋ8Ŋ'#1, - 2ĔŊ04#11~ Ŋ #7/1#2 1Ŋ,(Ŋ!#1! -~ Ŋ Ŋ+ 2Ŋ/. + !(.Ĺ -#2Ŋ"#Ŋ (+ -"( Ŋ $#!3 " 2Ŋ/.1Ŋ+ 2Ŋ %1 5#2Ŋ(-4-" !(.-#2ēŊ 2#%41.Ŋ/ 1 Ŋ #++.2Ŋ,(Ŋ1#9.ĢĔŊ!.,#-3¢ē
8Ŋ04#Ŋ3#-#1Ŋ/ !(#-Ĺ !( ēŊ 1##,.2Ŋ04#Ŋ+ Ŋ 2(34 !(¢-Ŋ,#).1 1;Ŋ Ŋ / 13(1Ŋ"#+Ŋ+4-#2Ŋĸ'.8ĚĢē Ŋ
ĹŠ ĹŠ ĹŠ
ZWc_[dje Z[b h‡e 9^We FhWoW [d lWh_ei jhWcei W ik fWie feh bW c[jhŒfeb_$ BW fh_c[hW c_d_ijhW" O_d# ]bkYa I^_dWmWjhW" i[‹WbŒ jhWi bW h[kd_Œd Z[b =WX_d[j[ Z[ Yh_i_i" gk[ Wkdgk[ h[ikbjW fheXWXb[ gk[ i[ fheZkpYWd _dkdZWY_ed[i [d ejhWi |h[Wi Z[ bW YWf_jWb" [i# j|i de i[h|d jWd ]hWl[i Yece bWi eYkhh_ZWi [d bWi fhel_dY_Wi l[Y_# dWi" [d bWi gk[ bW WbjkhW Z[b W]kW WbYWdpŒ bei jh[i c[jhei$ JWcX_ƒd O_d]bkYa f_Z_Œ YWb# cW W bW ][dj[ Z[ 8Wd]aea o Yed# Z[dŒ bW Z[ijhkYY_Œd Z[ lWh_ei Z_gk[i Z[ fhej[YY_Œd feh fWhj[ Z[ ]hkfei Z[ l[Y_dei _hh_jWZei feh bW ]hWZkWb ikX_ZW Z[b d_l[b Z[b W]kW [d iki XWhh_ei$
ßŋ'#&&)( -Ĺ‹ Ĺ‹* ,-)( -Ĺ‹ -#!/ (Ĺ‹-#(Ĺ‹ & .,# # jWcX_ƒd h[jhWiei o YWdY[bWY_e# c_bbed[i Z[ f[hiedWi Yedj_# d[i [d bei jhWdifehj[i$ I[ [if[hW gk[ bW jehc[djW" d‘Wd Wo[h i_d [b[Yjh_Y_ZWZ jhWi bW jehc[djW Z[ d_[l[ gk[ l_W`W WYecfW‹WZW Z[ l_[djei [d jehde W WZ[bWdjWZW gk[ W\[YjW ĹŠ [ij[ \_d Z[ i[cWdW [b bei Y_[d a_bÂŒc[jhei feh deh[ij[ Z[ ;;$KK$ o gk[ ^ehW" Yedj_d‘[ ik fWie #1- ".1ĹŠ"#ĹŠ feh [b deh[ij[ Z[b fW‡i" ^W Z[`WZe Wb c[dei jh[i +ĹŠ%. 4#5 ĹŠ #12#8ĔŊ '1(2ĹŠ '1(23(#ĔŊ ck[hjei$ ZedZ[ i[ YedY[djhWd Wb# I[]‘d ^Wd _dZ_YWZe "#!+ 1¢Ŋ 8#1ĹŠ#+ĹŠ ]kdWi Z[ bWi fh_dY_fWb[i #23 ".ĹŠ"#ĹŠ#,#1Äą bWi YecfW‹‡Wi [bƒYjh_YWi %#-!( Ä“ Y_kZWZ[i [ijWZekd_Z[d# o bWi Wkjeh_ZWZ[i beYWb[i" i[i" ^WijW Wo[h$ ckY^ei Z[ [ijei ^e]Wh[i" BW d[lWZW" kd \[dÂŒ# [d [if[Y_Wb [d bWi |h[Wi c|i W_i# c[de [njh[cWZWc[dj[ hWhe [d bWZWi" jWhZWh|d W‘d lWh_ei Z‡Wi [b |h[W W c[Z_WZei Z[ eje‹e" ^W [d h[Ykf[hWh [b Ă“k_Ze [bƒYjh_Ye YWkiWZe bW ck[hj[ Z[ Wb c[dei jhWi bW jehc[djW" gk[ ^W YWkiWZe jh[i f[hiedWi$ ĔŊ ĹŠ Ä› C|i Z[ Zei
3Ĺ‹Ä Ä„ĂşĂşĂş '#&&)( -Ĺ‹ " #. (. -Ĺ‹ (Ĺ‹ &Ĺ‹*& ( . ĹŠ/ 13(1ĹŠ"#ĹŠ'.8ĔŊ.ă!( +,#-3#Ä” + ĹŠ/. + !(¢-ĹŠ,4-"( +ĹŠ 4,#-3¢ ,(+ĹŠ,(++.-#2ĹŠ1#2/#!3.ĹŠ ĹŠÄˆÄ’Ä’Ä’Ä“ ]‘d bWi fheo[YY_ed[i Z[ DWY_e# d[i Kd_ZWi" bei ^kcWdei i[h|d -$&&& c_bbed[i" c_b c_bbed[i Z[ f[hiedWi c|i gk[ ^WY[ iebe ') W‹ei o ,$&&& c_bbed[i c|i gk[ Wb Yec[dpWh [b i_]be N?N$ ;d ik _d\ehc[ WdkWb bWdpW# Ze bW i[cWdW fWiWZW [d Bed# Zh[i" [b <edZe Z[ FeXbWY_ÂŒd Z[ bW EDK Kd\fW" feh iki i_]bWi
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
.1ĹŠ,(+ĹŠ,(++.-#2
ÂĄ ēŊ +ĹŠ-ĂŒ,#1.ĹŠ"#ĹŠ ".+#2!#-3#2ĹŠ8ĹŠ/1# ".+#2!#-3#2ĔŊ#-31#ĹŠÄˆÄ‡ĹŠ8ĹŠÄˆÄ’ĹŠ  .2ĔŊ#2ĹŠ"#ĹŠ ÄˆÄ“Ä‰Ä‡Ä‡ĹŠ,(++.-#2Ä“
.2ĹŠ"#2 $~.2ĹŠ#-ĹŠ 3(-. ,_1(!
BW feXbWY_ÂŒd Z[ 7cƒh_YW BWj_dW [i WYjkWbc[dj[ Y[hYWdW W bei ,&& c_bbed[i" kd .", Z[ bW feXbWY_ÂŒd ckdZ_Wb" o i[ [ij_cW gk[ bb[]Wh| [d (&+& W bei -+& c_bbed[i$ ;djh[ bei Z[iW\‡ei fh_dY_fWb[i fWhW bW h[]_ÂŒd i[ [dYk[djhWd bW Yh[Y_[dj[ khXWd_pWY_ÂŒd o [b [dl[# `[Y_c_[dje Z[ bW feXbWY_ÂŒd$ Æ;d bei fhÂŒn_cei (+ W‹ei bW feXbWY_ÂŒd khXWdW Z[ 7cƒh_YW 9[djhWb i[ lW W _dYh[c[djWh [d *& c_bbed[i Z[ f[hiedWi$ Be _c# fehjWdj[ [i l[h YÂŒce i[ [ij| fbW# d_Ă’YWdZe fWhW [ij[ Yh[Y_c_[dje feXbWY_edWbÇ" Yec[djÂŒ @eiƒ C_# ]k[b =kpc|d" `[\[ Z[ feXbWY_ÂŒd o Z[iWhhebbe Z[b Kd\fW$ Feh ejhW fWhj[" ÆbW feXbWY_ÂŒd Z[ 7cƒh_YW BWj_dW cWoeh Z[ ,& W‹ei
" ! #
#
,)*)( (Ĺ‹ ( /, , ' # -Ĺ‹* , Ĺ‹* .,)&v , ĔŊ ĹŠÄ› BW 9ec_i_ÂŒd ;k#
hef[W 9; fh[i[djÂŒ kd fheo[Y# je Z[ h[]bWc[dje gk[ [ijWXb[Y[ dehcWi c|i [ijh_YjWi fWhW bW YedY[i_ÂŒd Z[ b_Y[dY_Wi W fbWjW# \ehcWi f[jheb‡\[hWi" [djh[ bWi gk[ i[ _dYbko[d dk[lei h[gk_i_# jei Z[ i[]kh_ZWZ o bW WikdY_ÂŒd Z[ Yeij[i Z[ b_cf_[pW o h[fWhW# Y_ÂŒd c[Z_eWcX_[djWb [d YWie Z[ WYY_Z[dj[$ ÆI_[cfh[ gk[ ^Wo kdW f[h\ehWY_ÂŒd" WfWhj[ Z[ Wk# c[djWh [b fej[dY_Wb Z[ h[Ykh# iei" ikh][d ]hWdZ[i h_[i]eiÇ" i[‹WbÂŒ [b Yec_iWh_e [khef[e Z[ ;d[h]‡W" =”dj^[h E[jj_d# ][h" ZkhWdj[ bW fh[i[djWY_ÂŒd Z[b dk[le h[]bWc[dje kd _dijhkc[dje `kh‡Z_Ye Z_\[# h[dj[ W bWi Z_h[Yj_lWi " gk[ [if[hW gk[ [djh[ [d l_]eh W
fh_dY_f_ei Z[ (&')$ 5(3 1ĹŠ1(#2%.2
Kde Z[ bei eX`[j_lei Z[ [ijW fhefk[ijW [i h[]kbWh_pWh bWi f[h\ehWY_ed[i [d W]kWi fhe# \kdZWi #Wgk[bbWi gk[ i[ h[Wb_# pWd W fWhj_h Z[ '$&&& c[jhei Z[ fhe\kdZ_ZWZ# fWhW [l_jWh kd WYY_Z[dj[ Yece [b eYkhh_Ze [d kdW fbWjW\ehcW Z[ 8h_j_i^ F[# jheb[kc 8F [d `kb_e Z[ (&'& [d [b =eb\e Z[ Cƒn_Ye" gk[ YWk# iÂŒ kd Z[iWijh[ dWjkhWb$ Æ;b h_[i]e Wkc[djW fhefeh# Y_edWbc[dj[ Yed bW fhe\kd# Z_ZWZ Z[ bWi f[h\ehWY_ed[iÇ" h[YWbYÂŒ E[jj_d][h" fk[ije gk[ [d YWie Z[ \k]W" W [iWi fhe\kd# Z_ZWZ[i [i _cfei_Xb[ bW WYY_ÂŒd ^kcWdW o cko Yecfb_YWZW bW j[b[Z_h_]_ZW$
ÄŠ
-!1#,#-3.ĹŠ/. + !(.- +
j[d]Wd bW b_X[hjWZ ikĂ’Y_[dj[ fWhW i[ Zkfb_YWh| [djh[ (&'& o (&)& Z[Y_Z_h [d cWj[h_W Z[ h[fheZkY# iebe (& W‹ei " fWiWdZe Z[ +/ W ''. Y_ÂŒd5Ç" i[‹WbÂŒ IWĂ’o[ 9W]Wh" leY[hW c_bbed[iÇ" W]h[]ÂŒ =kpc|d$ Z[ Kd\fW$
[d _d]bƒi WZl_[hj[ ieXh[ [deh# c[i Z[iW\‡ei$ ƾ9ÂŒce Wi[]khWh gk[ YWZW kde Z[ deiejhei j[d]W kd d_l[b Z[ l_ZW Z_]de o Wb c_ice j_[c# fe fh[i[hlWh bei h[Ykhiei Z[ bW J_[hhW5" ÂľYÂŒce h[ZkY_h bW Xh[# Y^W [djh[ h_Yei o feXh[i" [djh[ ^ecXh[i o ck`[h[i5" ÂľYÂŒce be# ]hWh gk[ bWi Y_kZWZ[i i[Wd Wf# jWi fWhW l_l_h e gk[ bWi ck`[h[i
Ŋš ;b )' Z[ eYjkXh[ ^eo " i[#
AB/30043
ĒēćććŊ,(++.-#2ĹŠ#-ĹŠÄ‰Ä‡ÄŒÄŠ
BW EDK fh[lƒ gk[ bW feXbWY_ÂŒd W d_l[b Z[b ]beXe j[hh[ijh[ bb[]Wh| [d (&+& W /$)&& c_bbed[i$ ;d [b i_]be NN?" 7i_W i[]k_h| i_[dZe bW h[]_ÂŒd c|i feXbWZW" f[he Ă›\h_YW ]WdWh| j[hh[de$ I[ fh[lƒ gk[ ik feXbWY_ÂŒd i[ jh_fb_YWh| Z[ '$&&& c_bbed[i [d (&'' W )$,&& c_bbed[i [d ('&&$ ;d kd fbWd[jW gk[ [d\h[djW [b _cfWYje Z[b YWcX_e Yb_c|j_Ye o bW fƒhZ_ZW Z[ X_eZ_l[hi_ZWZ" [b ]hWd _dj[hhe]Wdj[ [i YÂŒce fhel[[h kdW l_ZW Z_]dW fWhW ejhei Zei c_b c_# bbed[i Z[ f[hiedWi [d \ehcW Yec# fWj_Xb[ Yed bW fh[i[hlWY_ÂŒd Z[ bW J_[hhW$ BW Eh]Wd_pWY_ÂŒd Z[ bW EDK fWhW bW 7]h_YkbjkhW o bW 7b_c[d# jWY_ÂŒd <7E WZl_hj_ÂŒ [d [b fWiWZe gk[ i[h| d[Y[iWh_e fheZkY_h kd -& c|i Z[ Wb_c[djei fWhW (&+&$
Ĺ—ĹŠĹŠÄˆÄ“Ä‡Ä‡Ä‡ĹŠ,(++.-#2ĹŠ#-ĹŠÄˆÄ‘Ä‡ÄŒÄ“ ŗŊŊĉēćććŊ,(++.-#2ĹŠ#-ĹŠÄˆÄ’Ä‰Ä?ĹŠÄ¸ÄˆÄ‰ÄŠĹŠ  .2ĹŠ"#2/4_2Ěē ŗŊŊĊēćććŊ,(++.-#2ĹŠ#-ĹŠÄˆÄ’ÄŽÄ’ĹŠÄ¸ÄŠÄ‰ĹŠ  .2ĹŠ"#2/4_2Ěē Ĺ—ĹŠĹŠÄŒÄ“Ä‡Ä‡Ä‡ĹŠ,(++.-#2ĹŠ#-ĹŠÄˆÄ’Ä?ÄŒĹŠÄ¸ÄˆÄŽĹŠ  .2ĹŠ"#2/4_2Ěē ŗŊŊĎēćććŊ,(++.-#2ĹŠ#-ĹŠÄˆÄ’Ä‘Ä?ĹŠÄ¸ÄˆÄŠĹŠ  .2ĹŠ"#2/4_2Ěē Ĺ—ĹŠĹŠÄ?ēćććŊ,(++.-#2ĹŠ#-ĹŠÄˆÄ’Ä’Ä’ĹŠÄ¸ÄˆÄˆĹŠ  .2ĹŠ"#2/4_2Ěē Ĺ—ĹŠĹŠÄ?ēćććŊ,(++.-#2ĹŠ#-ĹŠÄ‰Ä‡ÄˆÄˆĹŠÄ¸ÄˆÄŠĹŠ  .2ĹŠ"#2/4_2Ěē ŗŊŊđēćććŊ,(++.-#2ĹŠ#-ĹŠÄ‰Ä‡Ä‰ÄŒĹŠÄ¸ÄˆÄŠĹŠ  .2ĹŠ"#2/4_2Ěē ŗŊŊĒēćććŊ,(++.-#2ĹŠ#-ĹŠÄ‰Ä‡ÄŒÄ‰ĹŠÄ¸ÄˆÄ‘ĹŠ  .2ĹŠ"#2/4_2Ěē
-;+(2(2
+%4- 2ĹŠ!.-!+42(.-#2ĹŠ ĹŠĹŠ 2ĹŠ,4)#1#2ĹŠ3(#-#-ĹŠ,#-.1ĹŠ! -3(" "ĹŠ Ĺ—"#ĹŠ'().2ĹŠ04#ĹŠ#-ĹŠ#+ĹŠ"#!#-(.ĹŠ"#ĹŠÄˆÄ’Ä?ćĔŊ
/#1.ĹŠ#+ĹŠ-ĂŒ,#1.ĹŠ"#ĹŠ2#1#2ĹŠ'4, -.2ĹŠ2(%4#ĹŠ 4,#-3 -".ēŊ
ĹŠĹŠ ĹŠ#7/#!3 3(5 ĹŠ"#ĹŠ5(" ĹŠ/1.,#"(.ĹŠ' ĹŠ Ĺ— 4,#-3 ".ŊĉćŊ  .2ĹŠ"#2"#ĹŠÄˆÄ’ÄŽÄ‡Ä”ĹŠ"#ĹŠÄŒÄ‘ĹŠ ĹŠ Ä?đŊ  .2Ä“
ĹŠĹŠ -ĹŠÄˆÄ’Ä?ćĔŊ#+ĹŠÄ‰Ä‡Ĺ˜ĹŠ,;2ĹŠ1(!.ĹŠ"#ĹŠ+ ĹŠ'4, Äą Ĺ—-(" "ĹŠ/#1!( ~ ĹŠ#+ĹŠÄ?Ä‡Ĺ˜ĹŠ"#ĹŠ+.2ĹŠ(-%1#2.2ēŊ -ĹŠ
ĉććĎĔŊ"#ĹŠ !4#1".ĹŠ +ĹŠ -!.ĹŠ 4-"( +ĔŊ#2#ĹŠ /.1!#-3 )#ĹŠ2#ĹŠ' ~ ĹŠ(-!1#,#-3 ".ĹŠ +ĹŠÄ?Ä?Ĺ˜Ä“ĹŠ ĹŠĹŠ -ĹŠ#+ĹŠ/+ -#3 ĹŠ5(5#-ĹŠÄˆÄ“Ä‰Ä‡Ä‡ĹŠ,(++.-#2ĹŠ"#ĹŠ Ĺ— ".+#2!#-3#2ĹŠ.ĹŠ/1# ".+#2!#-3#2ĹŠ#-31#ĹŠÄˆÄ‡ĹŠ8ĹŠ ÄˆÄ’ĹŠ  .2ēŊ ;2ĹŠ"#ĹŠÄˆÄ‡ÄˆĹŠ,(++.-#2ĹŠ"#ĹŠ-( .2ĹŠ#-ĹŠ #" "ĹŠ#2!.+ 1ĹŠ-.ĹŠ5 -ĹŠ ĹŠ+ ĹŠ#2!4#+ ĹŠ8ĹŠ"#ĹŠ#23#ĹŠ %14/.ĹŠ,;2ĹŠ"#ĹŠ+ ĹŠ,(3 "ĹŠ2.-ĹŠ-( 2ēŊ
ĹŠĹŠ #ĹŠ#23(, ĹŠ04#ĹŠ"#ĹŠ+.2ĹŠ,;2ĹŠ"#ĹŠÄ?Ä?ćŊ,(Äą Ĺ—++.-#2ĹŠ"#ĹŠ - +$ #3.2ĹŠ "4+3.2ĔŊ".2ĹŠ3#1!(.2ĹŠ 2.-ĹŠ,4)#1#2Ä“
Ä Ä€
#1Ŋ (22ĔŊ4-Ŋ31 ,/.+~-Ŋ/ 1 Ŋ 2!#-"#1Ŋ
Ä? (Ĺ‹, #( )Ĺ‹. Ĺ‹ , Ĺ‹/( -Ĺ‹*/ ,. -Ĺ‹*),Ĺ‹/( -Ĺ‹ , . ,v-.# -Ĺ‹ v-#Äš -Ä…Ĺ‹* ,)Ĺ‹( -#. -Ĺ‹/( Ĺ‹" #&# Ĺ‹* , Ĺ‹*) ,Ĺ‹" ,Ĺ‹ Ĺ‹ - Ĺ‹ ˜)Ĺ‹ &)-Ĺ‹-#!/# (. -ŋßúŋ Ĺ‹./Ĺ‹0# đąŋ 2*&# šŋ ,v Ĺ‹ )&Ĺ‹ ),, &Ä…Ĺ‹'#--Ĺ‹ / ),ŋĒĂÞŋ3Ĺ‹ ./ &Ĺ‹0# & & - Ĺ‹ Ĺ‹ /#.)Ąŋ , Ĺ‹ && Ä…Ĺ‹+/# (Ĺ‹ && !šŋ Ĺ‹& Ĺ‹*)&v.# Ĺ‹., -Ĺ‹/( Ĺ‹' -.,v Ĺ‹ (Ĺ‹ ' ! (Ĺ‹3Ĺ‹ - -), ,Ĺ‹ &Ĺ‹ *, -# (. Ĺ‹ &Ĺ‹ ),, Ĺ‹ (Ĺ‹& -Ĺ‹ & #)( -Ĺ‹ ŋßúúĀąŋ &Ĺ‹Z2#.)Ĺ‹- Ĺ‹ - Ĺ‹ (Ĺ‹& Ĺ‹ * # Ĺ‹ Ĺ‹Ä?, #(0 ( #š(đąŋ /(+/ Ĺ‹Ä?'#-Ĺ‹'Z,#.)-Ĺ‹()Ĺ‹ / (. (Ä…Ĺ‹-# '*, Ĺ‹ )(. ,6Ĺ‹'6-Ĺ‹ &Ĺ‹ )&),Ĺ‹ Ĺ‹'#Ĺ‹* &)Ĺ‹+/ Ĺ‹'#Ĺ‹., Äš $)Ąŋ ,)Ĺ‹3 Ĺ‹ -.)3Ĺ‹ )-./' , Ä…Ĺ‹ -.)Ĺ‹()Ĺ‹' Ĺ‹'),.#ð đĄŋ
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
Ĺ?ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?Ĺ?
}
Ä #ĹŠ3.41 !.-ĹŠ 1!Ä&#x;
JhWi bei hkceh[i Z[ gk[ IWdZhW ;Y^[l[hh‡W o CWhY 7dj^edo i[ ^WX‡Wd X[iWZe ZkhWdj[ [b YedY_[hje gk[ [b YWdjWdj[ e\h[Y_ÂŒ Yed 7b[`WdZhe <[hd|dZ[p" i[ hkcehW gk[ CWhY o bW fhe# jW]ed_ijW Z[ ĂˆBW \k[hpW Z[b Z[ij_deÉ l_W`Whed `kdjei W 9eijW H_YW$ :[ WYk[hZe W ĂˆJlodel[bWiÉ" [b [n Z[ @[# dd_\[h BÂŒf[p \k[ YWfjWZe [d IWd @eiƒ [d YecfW‹‡W Z[ kdW WjhWYj_lW ck`[h" gk[ Wkdgk[ de \k[ _Z[d# j_Ă’YWZW feh bWi Y|cWhWi feZh‡W i[h bW WYjh_p c[n_# YWdW$ ĹŠ
ĹŠ
#1;ĹŠ .2_ĹŠ .2_
+ĹŠ! -3 -3#ĹŠ,#7(! -.ĔŊ'().ĹŠ "#ĹŠ #1¢-(! ĹŠ 231.ĔŊ04(#-ĹŠ ' ĹŠ! -3 ".ĹŠ! 2(ĹŠ3.".2ĹŠ+.2ĹŠ _7(3.2ĹŠ"#ĹŠÄĽ +ĹŠ 1~-!(/#ĹŠ"#ĹŠ+ ĹŠ -!(¢-ÄŚĹŠ '.1 ĹŠ/1.3 %.-(Äą 9 1;ĹŠ4- ĹŠ/#+~!4+ ĹŠ2. 1#ĹŠ24ĹŠ 5(" ēŊ +ĹŠ! -3 -3#ĹŠ3(#-#ĹŠ#-ĹŠ %#-" ĹŠ4- ĹŠ1#4-(¢-ĹŠ/ 1 ĹŠ 4+3(, 1ĹŠ+.2ĹŠ"#3 ++#2ĔŊ(-"(!¢Ŋ #-ĹŠ+ ĹŠ/1#2#-3 !(¢-ĹŠ"#ĹŠ24ĹŠ "(2!.ĹŠÄĽ (ĹŠ ,(%.ĹŠ +ĹŠ 1~-!(/#ČĔŊ 2#%4-".ĹŠ;+ 4,ĹŠ31( 43.ĹŠ 04#ĹŠ1# +(9 ĹŠ/ 1 ĹŠ .2_ĹŠ .2_ēŊ ĹŠ ĹŠ Â&#x;
}
#(- ĹŠ#1#"#2ĹŠ2.!( +#2
BW YWdjWdj[ \k[ Yedi_Z[hWZW feh bei lejWdj[i" [d bW [djh[]W Z[ bei IeY_Wb C[Z_W 7mWhZi" Yece bW f[hiedWb_ZWZ c|i _dÓko[dj[ o bW Ò]khW \[c[d_# dW c|i _dÓko[dj[ [d [ij[ j_fe Z[ c[Z_ei" feh [dY_cW Z[ f[h_eZ_ijWi o WYjh_Y[i$ BW [n H8:" gk_[d j_[d[ c|i Z[ Zei c_bbed[i Z[ i[]k_Ze# h[i [d Jm_jj[h" i[ _cfkie W f[hiedWb_ZWZ[i Yece 7dW Z[ bW H[]k[hW" =Wb_b[W Cedj_`e [ _dYbkie W bW f[h_eZ_ijW 9Wh# c[d 7h_ij[]k_$
+ĹŠ!.-!(#13.ĹŠ "#ĹŠ24ĹŠ5("
ēŊ +Ŋ! -3 -3#Ŋ1#5#+¢Ŋ"#3 ++#2Ŋ"#Ŋ24Ŋ%(1 Ŋ- !(.- +ē
+Ŋ! -3 -3#Ŋ/1#/ 1 Ŋ4-Ŋ2'.6 #2/#!3 !4+ 1Ŋ#-Ŋ+ Ŋ! /(3 +Ŋ! ,(-.Ŋ Ŋ 24Ŋ(-3#1- !(.- +(9 !(¢-ē
;b YWdjWdj[ ]kWoWgk_b[‹e :W# [b[dYe Z[ XW_bWh_d[i WYecfW# d_[b 8[jWdYekhj^ _d_Y_W ik ]_hW ‹Wh|d [b i^em Z[ Zei ^ehWi Z[ dWY_edWb ĂˆIeXhWd bWi fWbWXhWiÉ" ZkhWY_ÂŒd$ W fhefÂŒi_je Z[ ik Z_iYe h[Y_ƒd [ijh[dWZe$ ;b `k[l[i '& Z[ de# +ĹŠ"(2!. l_[cXh[ [d [b Ă›]ehW Z[ bW 9WiW JhWi Zei W‹ei Z[ _dj[die jhW# Z[ bW 9kbjkhW Gk_je " kd i^em XW`e" [b |bXkc ĂˆIeXhWd bWi fWbW# dkdYW Wdj[i l_ije fWhW kd jW# XhWiÉ l_e bW bkp [b fWiWZe `kd_e$ b[dje dWY_edWb" iWYkZ_h| bW YW# Æ;i _cfh[i_edWdj[" cWdZW# f_jWb Yed kd Z[ifb_[]k[ cki_# cei ^WY[h '+ c_b Yef_Wi o oW i[ WYWXWhed" Wi‡ gk[ [dl_ƒ ^WY[h YWb o jƒYd_Ye Z[ fh_c[h d_l[b$ ÆDei ^[cei fh[eYk# c|iÇ" Z_`e [ceY_edWZe :Wd_[b" gk_[d h[bWjÂŒ gk[ fWZe Z[ YWZW Z[jWbb[ Z[i# ĹŠ ]hWXWh [b 9: \k[ jeZe kd Z[ [b h[f[hjeh_e Ă„gk[ [i be fheY[ie gk[ _d_Y_ÂŒ Yed YhkY_WbĂ„ ^WijW [b Z[ifb_[# 4,ĹŠÄĽ . 1 -ĹŠ bei Z[cei" W bei YkWb[i ]k[ jƒYd_Ye$ >WXh| fWd# +ĹŠ;+ + 2ĹŠ/ + 1 2ÄŚĹŠ jWbbWi j_fe B;:" kd ied_Ze % -¢Ŋ!4 31.ĹŠ"(2Äą bk[]e i[ b[i W]h[]Whed" gk[ h[Ă“[`[ bW fej[dY_W Z[b !.2ĹŠ"#ĹŠ.1.ĹŠ/.1ĹŠ24ĹŠ 1_!.1"ĹŠ"#ĹŠ5#-3 2ĹŠ YWcX_Whed o Yehh_]_[hed Z_iYe o Z_h[YY_ÂŒd Whj‡ij_# #-ĹŠ24ĹŠ"~ ĹŠ"#ĹŠ+ -Äą YeiWi" _dYbkie Wdj[i Z[ 9 ,(#-3.Ä“ i[h ]hWXWZWi Z[Ă’d_j_lW# YWÇ$ 7 fhefÂŒi_je Z[ [ij[ ‘bj_ce Wif[Yje" [b Wh][d# c[dj[$ 9ece WdƒYZejW" j_de :Wd_[b 9^Wh_\ [ij| ^WY_[dZe [b fh_c[h i[dY_bbe ĂˆBW Yk[djWÉ" [b ]k_ÂŒd Z[b YedY_[hje" ZedZ[ Wb _d_Y_e" [hW kd ^_f#^ef gk[ YWZW YWdY_ÂŒd j_[d[ ik [ifWY_e [ \k[ YWcX_WZe W YkcX_W" oW gk[ ^_ijeh_W$ Yed [ij[ h_jce Ă“k‡W c|i bW b[# 8[jWdYekhj ^W [ijWZe [diW# jhWÇ$ Æ;i kd Z_iYe Wjh[l_Ze" Z_# oWdZe Z[iZ[ ^WY[ jh[i c[i[i" \[h[dj[" hecf[h| [igk[cWi o jWdje bW fWhj[ cki_YWb Yece [ij| b_ije fWhW f[b[Wh Yed gk_[d bW [iYƒd_YW$ :_[p c‘i_Yei o kd i[WÇ" YedYbkoÂŒ$
+ĹŠ!.-!(#13.
ĹŠĹŠ #3 ++#2
Ĺ—ĹŠĹŠ Ä–ĹŠ:%.1 ĹŠ"#ĹŠ+ ĹŠ 2 ĹŠ"#ĹŠ+ ĹŠ 4+341 Ŋĸ 4(3.Ěē Ĺ—ĹŠĹŠ ĖŊĉćĖćć Ĺ—ĹŠĹŠ Ä– + !*ĹŠ .7ĹŠĹŒÄŒÄ‰
(/ĹŠĹŒÄ‰ÄˆÄ”ÄŽÄ‡ 1#$#1#-!( ĹŠĹŒÄˆÄ?ĔĎć ĹŠĹŠ ĹŠ ĹŠ Ä–ĹŠĹŠ (!*#3ĹŠ2'.6ĹŠ Ĺ— +, !#-#2ĹŠ 42(! +~2(,.Ä–ĹŠ ++ĹŠ +ĹŠ
1"~-ĔŊ ĔŊ +Ŋ .204#Ŋ8Ŋ +Ŋ #!1#.ē
ĹŠ!.,/#3#-!(
H[if[Yje Wb YedY_[hje Z[b gk_j[# ‹e <Wkije C_‹e" Wb Z‡W i_]k_[dj[ Z[b ikoe" h[ifedZ_ÂŒ gk[ Æiecei Wc_]ei o Y^ƒl[h[ gk[ ^WoW Yed# Y_[hjei Wi‡" Yed Whj_ijWi Yeb[]Wi gk[ gk[hWcei ZWhb[ W bW ][dj[ be c[`eh Z[ deiejhei$ JWb l[p bW Ăˆ[if_d_jWÉ [i gk[ i[W Wb i_]k_[dj[ Z‡W o ]hWj_i$ De gk_[he Yh[Wh Yed# Ă“_Yjei" gk[ bW ][dj[ i[W bW gk[ Ye# c[dj[Ç" Z_`e$ ;b Whj_ijW Ă’dWb_pÂŒ i[‹WbWdZe gk[ ik YedY_[hje i[h| kd [if[Y# j|Ykbe fh[fWhWZe ÆYed ckY^e [i\k[hpe [YedÂŒc_Ye o [ceY_e# dWb$ Dei ^[cei [d\eYWZe [d gk[ bW ][dj[ l[W Wb]e gk[ c[h[Y[ o [ie Yk[ijWÇ$
ŏăāŏ ŏ ŏ ŏĂĀāā
ŏ +. ŏ
āā
Ä Ä‚
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
ļ Ŋ 4+3 - Ŋ"#Ŋ +Ŋ 1.ČŊ 3(#-#Ŋ,4!'.Ŋ04#Ŋ .$1#!#1Ŋ#-Ŋ#+Ŋ$#1( ".ēŊ :[iZ[ [b 9[hhe Z[b 9WblWh_e" ]kWhZ_|d Z[ bW Y_kZWZ" Z[iZ[ ZedZ[ i[ eXi[hlWd bei 7dZ[i" Yed [b \edZe Z[ bei h‡ei 9Wb[hW o 7cWh_bbe" ^WijW [b fWjh_ce# d_Wb XWhh_e ;b <W_gk[" Yed ik 9[c[dj[h_e =h_d]e o ik ?]b[#
(23 -!( 2
1(-!(/ +#2ĹŠ!(4" "#2ĹŠ
Ĺ—ĹŠ !' + Ä–ĹŠĹŠÄˆÄ‡Ä‰ĹŠ*(+¢,#31.2Ä“ Ĺ—ĹŠ 4(3.Ä–ĹŠĹŠÄ?Ä‡ÄŒĹŠ*(+¢,#31.2Ä“ Ĺ—ĹŠ 4 8 04(+ĖŊŊĉĒĎŊ*(+¢,#31.2Ä“ Ĺ—ĹŠ 4#-! ĖŊĉÄ?ĉŊ*(+¢,#31.2ēŊ
<JD<I8C;8J HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef *,)0 Xc *,+) [\ cX :kX% :k\% Ef% **/(*,--'+ g\ik\e\Z`\ek\ X E8IM8<Q : 8 9 I < I 8 # D 8 I @ 8 E 8$ ; < A<JLJ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef *-', [\ cX :kX% :k\% Ef% **/(*,--'+ g\i$ k\e\Z`\ek\ X E8IM8<Q : 8 9 I < I 8 # D 8 I @ 8 E 8$ ; < A<JLJ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ) d^ @D989LI8 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (+/0 [\ cX :kX% :k\% Ef% **,'+,/+'+ g\i$ k\e\Z`\ek\ X G8JGL<C =CFI<J#89I8?8D$@J8@8J [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& * d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef *', mXcfi )-,#'+ [\ cX :kX% :k\% Ef% *+--(*0,'+ g\ik\e\Z`\ek\ X >FD<Q 8E$ ;I8;<# N@CC@8E$<;@JJFE [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& + d^
C8K8:LE>8
HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ((0 [\ cX :kX% :k\% Ef% *,')*.(''+ g\ik\e\Z`\ek\ X :FII8C<J G8CD8#AFI><$ D8I:<CF [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& , d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef )), Xc )/. [\ cX :kX% :k\% Ef% *+.',)-0'+ g\ik\e\Z`\ek\ X KFC<;F G<E8?<II<I8# D8I@8$:I@JK@E8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& - d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef )// Xc *(. [\ cX :kX% :k\% Ef% *+.',)-0'+ g\ik\e\Z`\ek\ X KFC<;F G<E8?<II<I8# D8I@8$:I@JK@E8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif
14, Ŋ!.-)4% Ŋ#-! -3.Ŋ8Ŋ31 "(!(¢-Ŋ
i_W FWjh_ced_Wb" PWhkcW [i i_d ZkZW kd Z[ij_de jkh‡ij_Ye Z[ _d# Z[iYh_fj_Xb[ X[bb[pW o Whced_eiW fWp$ KdW efY_ÂŒd _Z[Wb fWhW [ijWi lWYWY_ed[i$ (4" "ĹŠ 31(,.-(.
+ĹŠ #7,.
;nfbejWZW Z[iZ[ bW ƒfeYW WXeh_][d" ;b I[nce [i bW c_dW" W‘d WX_[hjW" c|i Wdj_]kW Z[b fW‡i$ ;b WYY[ie [i \|Y_b" oW i[W [d l[^‡Ykbe e YWc_dWjW$ ;d bW WYjkWb_ZWZ bW [cfh[iW fh_lWZW bW ^W WZ[YkWZe fWhW [b jkh_ice" \WY_b_jWdZe Wb l_i_jWdj[ [b [gk_fe d[Y[iWh_e fWhW _d]h[iWh0 XejWi" YWiYei o b|cfWhWi$ ;b h[Yehh_Ze [cf_[pW Yed bW l_i_jW W kd f[gk[‹e cki[e o kdW h[i[‹W WkZ_el_ikWb$ Bk[]e" bei jk# h_ijWi i[ WZ[djhWd kdei +&& c[# jhei ^WY_W [b _dj[h_eh Z[b j‘d[b [d YecfW‹‡W Z[ kd ]k‡W$ BW [djhWZW de j_[d[ d_d]‘d Yeije fWhW jkh_ijWi dWY_edWb[i e [njhWd`[hei" [ie i‡" Z[X[h| _diYh_# X_h ik decXh[ [d [b b_Xhe Z[ l_i_# jWi" [d [b YkWb [ij|d bWi h‘Xh_YWi Z[ Whj_ijWi [ _cfehjWdj[i Ă’]khWi Z[ Z[djhe o \k[hW Z[b fW‡i$
DWY_ZW [d bW ƒfeYW Z[ bW 9ebed_W" Yh[Y_ÂŒ i_d fWjhed[i [ijWXb[Y_Zei o bWi YWbb[i i_]k[d [b Ykhie Z[ bW Yeh# Z_bb[hW1 [dbWpWZWi feh YWbb[`ed[i" pW]kWd[i o [iYWb_dWjWi gk[ b[ ZWd kd W_h[ Z[ c_ij[h_e o i[ZkYY_ÂŒd$ ;b Y[djhe ^_ijÂŒh_Ye [i Yebed_Wb$ Iki YWiWi [ij|d Z[YehWZWi Yed cW# Z[hWi Ă’dWi" j‡f_YWi Z[ bW pedW" XWb# Yed[i" jWbbWZei o Z_i[‹ei ‘d_Yei gk[ Yedij_jko[d kdW l[hZWZ[hW `eoW Whgk_j[YjÂŒd_YW YkoW fh_dY_fWb f[hbW [i [b IWdjkWh_e Z[ bW L_h][d Z[ ;b 9Whc[d$ I[ jhWjW Z[ kdW _]b[# i_W Z[ cWZ[hW gk[ ZWjW Z[ '/&+" [d bW YkWb Z[ijWYWd ik Y_[be hWie" fW# h[Z[i WZehdWZWi Z[ X[bbei h[jWXbei o ik WbjWh cWoeh h[YkX_[hje [d fWd +5 2 Z[ ehe$ FWhW YedeY[h bWi c_dWi Z[ ehe de
[\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& . d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef *(/ Xc *)' [\ cX :kX% :k\% Ef% *+.',)-0'+ g\ik\e\Z`\ek\ X KFC<;F G<E8?<II<I8# D8I@8$:I@JK@E8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& / d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef% (**$ (*0 Xc (-' [\ cX :kX% :k\% Ef% *+//)+*/'+ g\ik\e\Z`\ek\ X M@CC8IIF$ <C ;LHL<#A@D<E8$;< CF$ LI;<J [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& 0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef (*' [\ cX :kX% :k\% Ef% *+//)+*/'+ g\ik\$ e\Z`\ek\ X M@CC8IIF<C ;LHL<#A@D<E8$;< CFLI$ ;<J [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (' d^
CFA8
HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef +*+ Xc +*. [\ cX :kX% :k\% Ef% *+)***-('+ g\ik\e\$ Z`\ek\ X :FEJKIL:KFI8 8C8I:FE IF;I@>L<Q :8$ II@CCF [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (( d^
CFJ I@FJ
HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef )'- mXcfi *''#'' [\ cX :kX% :k\% Ef% *+)-).,*'+ g\ik\e\Z`\ek\ X C<FE IF:8#D@C;I<;$>@JJ<C8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& () d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef *,( mXcfi /./#0' [\ cX :kX% :k\% Ef% *+*,0)(('+ g\ik\e\Z`\ek\ X J8EK8E8 ;8M8CFJ# ><ID8E$I8$ =8<C [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (* d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef *,- mXcfi )*/#'' [\ cX :kX% :k\% Ef% *+*,0)(('+ g\ik\e\Z`\ek\ X J8EK8E8 ;8M8CFJ# ><ID8E$I8$ =8<C [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (+ d^
444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (,+( Xc (-+' [\ cX :kX% :k\% Ef% *(/*++','+ g\i$ k\e\Z`\ek\ X :<IM8EK<J I@QF#;<EE@$J8EK8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& (, d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (*+( Xc (++' [\ cX :kX% :k\% Ef% *(/*++','+ g\i$ k\e\Z`\ek\ X :<IM8EK<J I@QF#;<EE@$J8EK8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& (- d^
D8E89@
HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef /'( Xc 0'' [\ cX :kX% :k\% Ef% *'(-+,-,'+ g\ik\e\Z`\ek\ X J:?LCQ<# AF8:?@D$<J$ K<G?8E [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (. d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ((/- mXcfi +'#'' [\ cX :kX% :k\% Ef% *+.*,-(/'+ g\ik\e\Z`\ek\ X ;< C8 :ILQ :8II<EF#M@M@8E8$ 8C<O8E;I8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (/ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\$ hl\ Ef *.. [\ cX :kX% :k\% Ef% *+..+(','+ g\i$ k\e\Z`\ek\ X :<;<EF D8:@8J#M<IFE@:8$<JK<$ =8E@8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ()(. mXcfi *(,#'' [\ cX :kX% :k\% Ef% *'('.+*('+ g\ik\e\Z`\ek\ X Q8D9I8EF M<I>8I8# D8I@8$CL@J8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& )' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (*( Xc (-' [\ cX :kX% :k\% Ef% *+,./*,)'+ g\ik\e\Z`\ek\ X HL@A@A< :?8M<Q#<=I<E$ 8C8;@EF [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )( d^
G@:?@E:?8
HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef *-*( Xc *.*' [\ cX :kX% :k\%
Ef% *'/'0(00'+ g\ik\e\$ Z`\ek\ X >L<M8I8 M8C;@$ M@<JF# <D@C@F$J8CM8;FI [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& )) d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef +'/( Xc +(/' [\ cX :kX% :k\% Ef% *'/''.-)'+ g\ik\e\$ Z`\ek\ X >L<M8I8 M8C;@$ M@<JF# <D@C@F$J8CM8;FI [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& )* d^
J8EKF ;FD@E>F
HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef )-(0 [\ cX :kX% :k\% Ef% *+)('/+-'+ g\i$ k\e\Z`\ek\ X :8JK@CCF FI<CC8E8#A8:@EKF$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )+ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef% )./($ )./.$ ).//$ )./0 [\ cX :kX% :k\% Ef% *+)('/+-'+ g\ik\e\Z`\ek\ X :8JK@CCF FI<CC8E8#A8:@EKF$IF$ 9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ), d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef *'/. Xc *'// [\ cX :kX% :k\% Ef% *(-'.*(.'+ g\ik\$ e\Z`\ek\ X :8DGFM<I;< :LI8P# 8E><C$D8I@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& )- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef //0 [\ cX :kX% :k\% Ef% *+/*-.++'+ g\ik\e\Z`\ek\ X 8CD<@;8 DFI<@I8#>CFI@8$ D8I@:<C8 [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ). d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef .-- [\ cX :kX% :k\% Ef% *+/*-.++'+ g\ik\e\Z`\ek\ X 8CD<@;8 DFI<@I8#>CFI@8$ D8I@:<C8 [\c 9XeZf G`$ Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )/ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef -*. [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$ IF9<IKF [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f
[\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ,0) [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$ IF9<IKF [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef -)+ [\ cX :kX% :k\% Ef% *+0/.*/*'+ g\ik\e\Z`\ek\ X 98II<EF G8II8#AFI><$ IF9<IKF [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *( d^
KLE>LI8?L8
HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef .,/ [\ cX :kX% :k\% Ef% *(0(+*00'+ g\ik\e\Z`\ek\ X M<>8 9FIA8#M@:KFI$IL$ 9<I [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *) d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (-( Xc (0' [\ cX :kX% :k\% Ef% *+0+*0(('+ g\ik\e\Z`\ek\ X FIK<>8 J8E:?<Q#M@:KFI$ ;LJK@E [\c 9XeZf G`Z_`e$ Z_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ** d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (0*( Xc )'*' [\ cX :kX% :k\% Ef% *'-('-/''+ g\i$ k\e\Z`\ek\ X :89I<I8 LHL@CC8J# AFJ<$I@:8I;F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX gl$ Yc`ZXZ`�e% 8:& *+ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef% (',($('-0$('.'$(('0 [\ cX :kX% :k\% Ef% *+)/)'-('+ g\ik\e\Z`\ek\ X 8GL8E>F :8I;<E8J#?@C;8$>L8;8$ CLG< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *, d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ((*( Xc ((*, [\ cX :kX% :k\% Ef% *+)/)'-('+ g\i$ k\e\Z`\ek\ X 8GL8E>F :8I;<E8J#?@C;8$>L8;8$ CLG< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *- d^ 444444
ēŊ 14, Ŋ#5.! Ŋ#+Ŋ/ 2 ".Ŋ/.1Ŋ24Ŋ #++#9 Ŋ 104(3#!3¢-(! Ŋ24Ŋ 31 "(!(¢-Ŋ8Ŋ!4+341 ēŊ
^Wo c[`eh efY_ÂŒd gk[ [b h[Ye# [b _dj[h_eh Z[ bWi c‡j_YWi c_dWi hh_Ze PWhkcW#CWblWi" [d [b Z[ ehe" YWc_dWjWi" cedjW‹_i# YkWb feZh| eXi[hlWh [b ce" YWcf_d]" f[iYW Z[# fheY[ie Z[ jh_jkhWY_ÂŒd o fehj_lW o dWjWY_ÂŒd [d bei ĹŠ bW eXj[dY_ÂŒd Z[b ehe [d h‡ei e [d bWi bW]kdWi$ \ehcW Whj[iWdWb$ ;d bW fWhhegk_W CWb# ĹŠ3#,/#1 341 ĹŠ 3.2ĹŠ(,/.13 -3#2ĹŠ /1.,#"(.ĹŠ#-ĹŠ lWi" kX_YWZW W )& c_dk# 14, ĹŠ5 1~ ĹŠ / 1 ĹŠ#+ĹŠ5(2(3 -3# :[ `kd_e W del_[cXh[ [i jei Z[ PWhkcW" feZh| Ye# #-31#ĹŠ+.2ĹŠÄˆÄ‡ĹŠ8ĹŠ+.2ĹŠ ÄˆÄŠĹŠ%1 ".2ĹŠ!#-3~Äą deY[h [b Ceb_de 7hj[iWdWb %1 ".2ēŊ ƒfeYW Z[ l[hWde" bWi de# @[i‘i Z[b =hWd FeZ[h o bW Y^[i ied kd feYe \h‡Wi o h[ijWkhWZW ?]b[i_W Z[ CWb# [d eYWi_ed[i fk[Z[ ^W# lWi" Z[i_]dWZW Yece FWjh_ced_e X[h bbkl_Wi Z_if[hiWi$ 9kbjkhWb Z[b ;YkWZeh feh [b ?di# ;i fh[\[h_Xb[ kdW YWc_dWjW j_jkje DWY_edWb Z[ FWjh_ced_e W kd fWi[e [d Wkje$ Jec[ [d Yk[djW bei ($+&& c[jhei Z[ 9kbjkhWb ?DF9 $ WbjkhW Z[ Wb]kdWi Z[ iki fW# !3(5(" "#2ĹŠ04#ĹŠ2#ĹŠ/4#"#-ĹŠ/1 !3(! 1 hhegk_Wi o de Z[`[ ik WXh_]e [d :[iZ[ ZedZ[ gk_[hW gk[ [ijƒ" YWiW YkWdZe l_i_j[ [ij[ h_dYÂŒd i[ fk[Z[ _d_Y_Wh kd fWi[e feh Z[ bW 9eijW$
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
* & )+ * * ) ! !)7% % # ) + )9 % ) # # %+! *+ # * # 9 $!8) &# * %&-! $ ) # ')& !$! %+& * :!)7 # * !*'&*! !&% * # # $ % +& %+ )%& ' ) # (,!*! !;% ! % * 0 &%+) + !;% * )-! !&* &# < # & &" ', ! % & !% #,*!- # & $!*!;% (,!*! !&% * # ) ) *! )+& # ')& *& '&) *9 &%- %!) #&* !%+ ) * * !%*+!+, !&% # * *!% (, #&* ' )+! ! ' %+ * + % % ) & ) # $& & !% $%!1 !;% # ,% &" & +, )
Ĺ? Ĺ? Ĺ? Ĺ? Ĺ?
3.!' Ä”ĹŠÄˆÄ‡Ä‡ĹŠ  .2ĹŠ "#ĹŠ!.+ " ĹŠ,.1 " ĹŠ
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
[if[Y_Wi" (& b_XhWi Z[ cehW" kd YW`Œd Z[ dWhWd`_bbWi o (& kd_ZW# Z[i Z[ ]kWoWXWi feh YWZW - b_# XhWi Z[ ^Wh_dW$ BW fW_bW Z[ Xhed# Y[ ZedZ[ i[ fh[fWhW Z_Y^W h[Y[jW [i Z[ '.& b_jhei$ FWh[Y[ ckY^e" f[he bW ck`[h i[‹WbW gk[ lWh_Wi l[Y[i bei '.& b_jhei de WbYWdpWd fWhW iWj_i\WY[h W jeZei bei ]ebeiei Yec[diWb[i gk[ bb[]Wd ^WijW ik beYWb$
ĹŠ " ĹŠ4-(" "ĹŠ"#ĹŠ / -ĹŠ5 +#ĹŠÄˆÄ‰ĹŠ!#-Äą 3 5.2ĹŠ8ĹŠ+ 2ĹŠ #,/ - " 2ŊĉćŊ !#-3 5.2ēŊ
ēŊ 23#Ŋ/. + ".Ŋ!4#-3 Ŋ!.-Ŋ+4% 1#2ŊŊļ,;%(!.2ČŊ04#Ŋ423#"Ŋ"# #Ŋ!.-.!#1ē
Ä Â˘,.ĹŠ++#% 1Ä&#x;
I_ l_W`W Z[iZ[ Gk_je" [b h[Yehh_Ze ^WijW 7cXWje b[ jecWh| Wfhen_# cWZWc[dj[ jh[i ^ehWi$ KdW l[p Wbb‡" fh[]kdj[ feh bW Wl[d_ZW He# Zh_]e FWY^Wde BWbWcW" bW YkWb be bb[lWh| ^WijW bW YWbb[ 9WdjWh_Wi" Wbb‡ l_h[ W bW _pgk_[hZW o WlWdY[ ^WijW gk[ [dYk[djh[ [b FWhgk[ Z[ 7jeY^W$ ;d bWi eh_bbWi Z[ [ij[ i_j_e [dYedjhWh| lWh_ei beYWb[i ZedZ[ l[dZ[d YebWZW cehWZW$
'&.' $ + ( *+'& + & ,-* $ + 1 ' #-*9 " + & "'& $ + ' 0,* &# * + ' +' " "'& + 8+, + '%" "$" + & $ ( 9+ 1 $ $% &, ( ", + & # * * ,"." + '% * " $ + & $ - '* ( * )- (* + &, & +-+ ' *, + & $ )-"+" ";& -& )-"(' &,"$ ";& 7&" ( * $ 6* -" '+ &, &+".'+ '$ < $ ' '#
GTO46 Con sistema de numeraciĂłn en excelente estado. GTO Bicolor Con sistema de numeraciĂłn en excelente estado.
158303/cv
ĹŠ Ä–
BWi h[Y[jWi Yed bWi gk[ i[ [bW# XehWd [ijWi Z[b_Y_Wi bb[lWd [d bW \Wc_b_W Wbh[Z[Zeh Z[ '&& W‹ei o i[ ^Wd cWdj[d_Ze _d# jWYjWi" feh be gk[ bei l_i_jWd# j[i h[YedeY[d [b iWXeh gk[ Z_ij_d]k[ W [ijei fheZkYjei Z[ bei Z[c|i$ =WXh_[b BŒf[p" fhef_[jW# h_e Z[ bW fWdWZ[h‡W" Yec[djW gk[ iki WXk[bei kj_b_pWXWd [b c_ice ^ehde Z[ b[‹W gk[ kiW WYjkWbc[dj[$ 7 f[iWh Z[ gk[ ik beYWb i[ ^W jhWdi\ehcWZe Yed [b j_[cfe" Wb]e gk[ dkd# YW YWcX_Œ d_ i[ cel_Œ Z[ ik i_j_e eh_]_dWb \k[ [b Wdj_]ke \e]Œd Z[ bWZh_bbe$ BW Z[b_Y_eiW X[X_ZW i[ l[dZ[ [d Zei fh[i[djWY_ed[i0
+ '& " "'& + & * $ + +, '&.' ,'*" +'& $ + +" -" &, +
ĖŊĸćĉĚŊĉÄ?ÄŽĹŠÄ’Ä’ĹŠÄ?đŊ ĸćĉĚŊĉÄ?ĎŊĒĊŊćÄ?ĹŠ
SAN VICENTE, MANAB� LOTIZACIÓN LOS GUAYACANES
Zona residencial de San Vicente y BahĂa de CarĂĄquez, a 1 km del aeropuerto y del puente Los Caras. Solares desde 300m2 con agua potable y energĂa elĂŠctrica. Listos para construir. Contado o crĂŠdito 083513401 / (02) 2507606 AR/85047/cc
158303/cv
ĹŠ Ä– GTO46 Con sistema de numeraciĂłn en excelente estado. GTO Bicolor Con sistema de numeraciĂłn en excelente estado.
Ä Äƒ
ĖŊĸćĉĚŊĉÄ?ÄŽĹŠÄ’Ä’ĹŠÄ?đŊ ĸćĉĚŊĉÄ?ĎŊĒĊŊćÄ?ĹŠ
'+ * )- *"%" &,'+ +' * $ + * , *9+," + $ )-"(' $ + (' *7 & '&,* * & $ (7 "& / '$ /// +'$ $' # % $ ( ' )- & * $ (* + &, '& -*+' '%( * ";& (* "'+ + * $"2 *7 & $ '*% 1 '& " "'& + )- + +, $ 2 & '%<& - * ' &,* $ (*'. '* 1 $ "&+,",- ";& '&,* , &, &,* $ )-"(' + * $"2 *7 & +- ,', $" & $ 6* -" '+ &, &+".'+ $ '+(", $ '$ < $ ' '#
+ ' *, + + * " "*7& & $ * , *9 & * $ $ &," ! +, $ + ! $ 9 %"8* '$ + &'." % * $ (*' "%" &,' + :"*7 $ + "+('+" "'& + $ $ % &,' &, *&' ( * $ )-"+" ";& " & + 1 '&,* , ";& *." "'+ '$ < $ ' '# (- " & ' "& $-+". $ '%"+";& )-"+" "'& + $ * * +" *,' $ (*' +' ('* +9 '&. &"* $'+ "&, * + + "&+,",- "'& $ + +"& )- $'+ ( *," " ( &, + , & & * !' * $ %' ' "& %&"2 ";& $ -&
SAN VICENTE, MANABĂ? Zona residencial de San Vicente y BahĂa de CarĂĄquez, a 1 km del aeropuerto y del puente Los Caras. Solares desde 300m2 con agua potable y energĂa elĂŠctrica. Listos para construir. Contado o crĂŠdito 083513401 / (02) 2507606 AR/85047/cc
!2
!2
LOTIZACIÓN LOS GUAYACANES
9WZW cW‹WdW" ?iWX[b CWh# [b lWie f[gk[‹e Yk[ijW *& Y[djW# Y_Wb o ik [ifeie =WXh_[b BÂŒ# lei o [b ]hWdZ[ lWb[ ,& Y[djWlei$ 7Z[c|i" bei Yb_[dj[i fk[# f[p fh[fWhWd bW b[‹W fWhW YeY_dWh bW YebWZW Z[d bb[lWhi[ '* lWiei feh dk[l[ ZÂŒbWh[i$ F[he ?iWX[b cehWZW o ^ehd[Wh kd ĹŠ Z[b_Y_eie fWd [d ik YedĂ’[iW gk[ bW jWhh_dW c[# , 3.ĹŠ!4#-3 ĹŠ Z_WdW Z[ i_[j[ lWiei feh bW ^ehde Z[ bWZh_bbe$ ;d ik beYWb" ĂˆFWdW# !.-ĹŠ'.23 +#2ĹŠ8ĹŠ gk[ i[ fW]Wd YkWjhe ZÂŒbW# '.3#+#2ĹŠ04#ĹŠ2#ĹŠ Z[h‡W 7jeY^WÉ" kX_YWZe !.,." -ĹŠ ĹŠ242ĹŠ h[i Yed +& Y[djWlei [i bW -#!#2(" "#2ĹŠ [d fb[dW fbWpW Y[djhWb #!.-¢,(! 2Ä“ \Wleh_jW Z[ bei Yb_[dj[i$ Æ;i Z[ bW fWhhegk_W 7jeY^W YÂŒceZe" XWhWje o WbYWdpW 7cXWje " bei jkh_ijWi fWhW jeZeiÇ" Yec[djW$ Z_i\hkjWd ZkhWdj[ jeZe [b W‹e Z[ [ijW X[X_ZW jhWZ_Y_edWb Z[ .".ĹŠ4-ĹŠ/1.!#2. bW ƒfeYW Z[ Ă’dWZei$ 9WZW beYWb j_[d[ iki fhef_ei fhe# ;b fWd [bWXehWZe [d ^eh# l[[Zeh[i$ Fh[fWhWh bW YebWZW je# de Z[ b[‹W o bW YebWZW cehW# Zei bei Z‡Wi j_[d[ iki X[d[Ă’Y_ei" ZW ^[Y^W [d fW_bW Z[ YeXh[ Yece YedeY[h bW c[Z_ZW [nWYjW j_[d[d kd iWXeh gk[ [dYWdjW Z[ YWZW _d]h[Z_[dj[$ ?iWX[b kj_# W bei jkh_ijWi gk[ l_i_jWd [ijW b_pW Wbh[Z[Zeh Z[ c[Z_W b_XhW Z[ pedW$ Ă‹-(! 2ĹŠ
!2
#2"#Ŋ' !#Ŋ4-Ŋ2(%+.ĔŊ!(#-3.2Ŋ"#Ŋ341(23 2Ŋ !4"#-Ŋ' 23 Ŋ#23 Ŋ+.! +(" "Ŋ/ 1 Ŋ"(2$143 1Ŋ + Ŋ"#+(!(.2 Ŋ!.+ " ēŊ
Ĺ? Ĺ? Ĺ? Ĺ? Ĺ?
¡
Ċŋ
?% D8I:<CF D<A@8 I% _d\a`X7cX_fiX%Zfd%\Z
āą
POLÍTICO
ŏ ăāŏ ŏ ŏ ŏĂĀāāŏ
ŏ +. ŏČŏ
CHINO
SEGUNDA NOTA MUSICAL
CONVICTO
LINAJE,
CAPITAL DE ITALIA
TREINTA DÍAS
ENFERMEDAD
TRONCO POR LA MAÑANA
ũũ
PADECIMIENTO
PEGA
EMBARCACIÓN DE REMOS TRANSCURSO DEL TIEMPO
ENFERMEDAD
ASIDERO
PLANTÍGRADO
PIÉLAGO
BALNEARIO DE ESMERALDAS
MENCIONAR,
PULMONAR
ACEITE GRUESO
NOMBRAR
BATRACIO
GARFIO, INSTRU-
TARDANZA,
NO SUAVE AL
AMARRAR
ANTORCHA
RETRASO
(% ~+
PELÍCULA
EL ÚLTIMO EMBARCACIÓN
PARTE DEL HUEVO
SÍMBOLO DE
FURIA
INHALAR
TESORO PÚBLICO
BARIO
ũũ
CARRO EN ARGOLLA PILLAR, APRESAR
I
A
N
A
R
C
A
T
CUADRÚPEDO GATO EN
A
D
B
A
A
M
A
R
A
S
R
A
CONCLUIR, TERMINAR BAÑADO DE LUZ
MES LUNAR MAHOMETANO
A CREMA DE LA LECHE
DIOS EN EL ISLAM
PAPAGAYO
P
L
O
CHIFLADA
A
R
C
UVA SECA
INGLÉS
C
O
L
E
ARTÍCULO
L
A
EL TIGRE Y LA
FEMENINO
R
E
S
BATRACIO
EXTRAÑA
T
DIRECTOR DE
O
LA PELÍCULA NIEVE
DESTRUIR, ARRASAR
INGRESO
ENSENADA
R
A
L
A
C
ZANJA A UN LADO DEL CAMINO
C
O
B
I
C
A
R
E
O
D
U
M
A
N
R
E
I
T
VOZ DE ARRULLO
A
FLAMA SOFLAMA
OESTE
E
DESMOSTRACIÓN
R
A
O
C
A
Z
ANTORCHA ARGOLLA
A
R
A
L
F
J
A
PERTENECIENTE
O
ABRIGARSE
DESCARNADO SÍMBOLO DE BORO
B
DIOS DEL
I
R
M
O
S
A
A
AMOR
HEMBRA
A LA MADRE
ESQUELÉTICO,
MANTA PARA
LECHO
INGLÉS
CAMBIAR,
PIEDRA FINA
CAREAR
RÍO DE EUROPA OCCIDENTAL
BONDADOSO
R
EXTRAER
R
O
T
A
P
I
O
N
VARIAR
HOMBRE PENDENCIERO OCA
G DIGNIDAD PAPAL CONTAR, COMENTAR
MUY DURA
P
A
C
A
S
CONVICTO
A
I
C
SÍMBOLO DE
R
B
CIUDAD DE RUAMANIA SÍMBOLO DE
H
R
E
R
I
TERRITORIO, ZONA
BROMO
EXTEMIDAD
R O D E A R R Á O L I N DH E CELEBRIDADES O L =I8E:<J:F G<KI8I:8 R A (*'+ $ (*.+ GF<K8 P ?LD8E@JK8 @K8$ A T C@8EF% JL GIF;L::@äE <E C8KàE <J C8 DÝJ ELD<IFJ8 C A HL< C8 <J:I@K8 <E C<E>L8 MLC>8I I R
O
INFERIOR
CERCAR
ÍO DE FRICA
DUEÑO
S
IJO DE ÉDALO
HUESO DE LA CADERA
DE ITALIA
O
A
SÍMBOLO DE IRIDIO
TIEMPO
HIDRÓGENO
P
A
A R
M A
PERRO
PERFUME DELICADO TOSCO, BRUSCO
KICHWA
O ARGOLLA DIOS DEL
S
A
L
L
O
CHILENO
E
T
O
SÍMBOLO DE
R
N
I
G
N
E
CONFUSIÓN
PIEZA DE
C
A
B
L
PURO, LIMPIO
N
CARBONO
YUNQUE DEL PLATERO
AJEDREZ
TIZA
A
DIOS DE LOS
N
REBAÑOS ESTADO DE ASIA
ESCRITOR
L
P
INGLÉS
PAREJA GRITO
L
SÍMBOLO DE
DEPORTIVO
NOMBRAR CITAR NITRÓGENO
6 2 4
1 8
4 1
7 4
9 5
1 9
7
4 5
8
2
8 6 7 5 3 4 2 6 1 7 8 9 4 5
5
3
1
9
5 4
1 3 8
2 7
2
4 6
5 9
6
3
1
7
8
4
3 9 2 6 1 9 8 3
6 1 2 8 5
8 7
9 4
7 2 7 3 6
6
8
2
4 9
1
5
8
9
7 2 8 8
2
3
2 6
3
5
1 4
1
9 1 6 4 3 2 9
: ũ }
+ũă+#3#ũ"#+ũ$4341.ũ-.ũ3#-"1~ ũ04#ũ2#1ũ"#ũ5 ! ũě 7 CWha Feij \eje b[ Z_[hed
*(& c_b Z bWh[i fWhW ^WY[h kdW ^WcXkh]k[iW [d kd W e$ Fk[Z[ fWh[Y[h Z_d[he \|Y_b" f[he _dj[d# j[d ^WY[hbe i_d kj_b_pWh YWhd[ fhel[d_[dj[ Z[ kd Wd_cWb$ ;b fhe\[ieh Feij [i kdW Z[ bWi feYWi f[hiedWi [d [b ckdZe gk[ fk[Z[ Yedi[]k_hbe$ 9ece `[\[ Z[b :[fWhjWc[dje Z[ <_i_ebe] W LWi# YkbWh Z[ bW Kd_l[hi_ZWZ Z[ CWWi# jh_Y^j" [d >ebWdZW" i[ [dYk[djhW W bW lWd]kWhZ_W Z[ kdW dk[lW ebW Z[ _dl[ij_]WY_ d gk[ XkiYW Yh[Wh kdW cWd[hW Z[ fheZkY_h YWhd[
ĸ 1(+ũĉćũıũ, 8.ũĉćĹ
.2ũ 24-3.2ũ/#-"(#-3#2ũ!.-ũ24ũ$ ,(+( ũ /4#"#-ũ2#1ũ1#24#+3.2ũ2(ũ "ēũ+.2ũ 24,#ũ!.-ũ 5 +#-3~ ũ8ũ$.13 +#9 ēũ Ėũ .-ũ24ũ ./3(,(2,.ũ!1# ũ4-ũ/ 1 ~2.ē
^ ũ
ĸ, 8.ũĉĈũıũ)4-(.ũĉĈĹ
2ũ !3(5(" "#2ũ#-ũ!.,/ ~ ũ"#ũ242ũ ,(%.2ũ2#1;-ũ,4!'.ũ,;2ũ$1#!4#-3#2ũ8ũ "ēũ"(2$143 1;ũ,4!'.ũ,;2ũ"#ũ#++ 2ēũ .2ũ /1.8#!3.2ũ2#ũ++#5 1;-ũ ũ! .ēũ Ėũ 2/#1#ũ+ ũ!.2#!' Ĕũ2#%Ì-ũ+ ũ2#,(++ ũ04#ũ 2(#, 1#ũ#-ũ#+ũ/1#2#-3#ē
: ũũ
ĸ)4-(.ũĉĉũıũ)4+(.ũĉĉĹ #-31.ũ"#ũ+.ũ/1.$#2(.- +ũ "ēũ2#1;ũ,;2ũ !ı 3(5.ũ8ũ/ 13(!(/ 3(5.ũ+.ũ04#ũ %1 " 1;ũ ũ242ũ 24/#1(.1#2ũ8ũ 84" 1;ũ ũ04#ũ "ēũ/1.2/#1#ũ #-ũ#23 ũ;1# ēũ Ėũ +ũ.1"#-ũ#2ũ4-ũ $ 1.ũ04#ũ$ 5.1#!#ũ24ũ.1(#-3 !(¢-ē
ũũ
7
2
NEUTRO
CRECIDA
BATRACIO
5
1
ARTÍCULO
ALAS SÍMBOLO DE SODIO
AMOR
RATA EN
T
3
ARRULLO
QUE TIENE
TONTO EN
Ċŋ
6
CANTÓN DE LOJA VOZ DE
DEL OSO IGUALDAD EN LA SUPERFICIE
ACCIÓN DE
CARRO EN
A
A CANSADA
T
DE CARIÑO
P
R
PROVINCIA DE PANAMÁ
ENRAMADA
RÍO DE ÁFRICA
Solución anterior N
COBERTIZO,
RÍO DE ALEMANIA INTRIGA
ALFA
LA NIEVE
DONAR
QUÍMICO DE SÍMBOLO RN. ESTADO DE VENEZUELA
INGLÉS
PELÍCULA
l_W`[ [d [b Y[djhe Z[b bedZ_# d[di[ XWhh_e Z[ Dejj_d] >_bb$ Bb[lW kdW l_ZW i_cfb[ o hkj_# dWh_W ^WijW gk[ i[ YhkpW [d ik l_ZW bW \WceiW WYjh_p [ijWZek# d_Z[di[ 7ddW IYekj" gk_[d [ij| ÒbcWdZe kdW f[b YkbW [d BedZh[i$ M_bb_Wc gk[ZW \Wi# Y_dWZe Yed [b [dYWdje o bW i[d# Y_bb[p Z[ 7ddW$$$ µf[he ^WXh| bW fei_X_b_ZWZ Z[ kdW h[bWY_ d [djh[ kd i_cfb[ b_Xh[he o kdW Y b[Xh[ [ijh[bbW5
PRINCESA INCA
TRÁFICO DE SERES HUMANOS VASIJA BAJA Y REDONDA
ACTOR DE LA PELÍCULA MÁS ALLÁ DE LA VIDA
EL TIGRE Y
ũM_bb_Wc [i [b Zk[ e Z[ kdW ŗũ f[gk[ W j_[dZW Z[ ]k Wi Z[
ĸ, 19.ũĉĈũıũ 1(+ũĈĒĹ 4ũ/#12.- +(" "ũ2#1;ũ,4!'.ũ,;2ũ$4#13#ũ 8ũ#23.ũ+#ũ 84" 1;ũ ũ/#12#%4(1ũ242ũ,#3 2ũ 2(-ũ3#,.1#2ũ-(ũ"4" 2ēũ (3 +(" "ũ8ũ#-#1%~ ũ (- %.3 +#2ēũ Ėũ #23#ũ+ ũ/ 9ũ!.-ũ !3(34"#2ũ"#ũ)423(!( ē
DEL DILUVIO NEGOCIACIÓN, CONVENIO
ACTRIZ DE LA
ĔũĈćĖČĎ
ũũ
VUELO
ŗũũKdW Y^_YW [nY[fY_edWb# c[dj[ X[bbW gk[ Z[iYWh]W
-ũ+4% 1ũ++ , ".ũ .3'(-%ũ (++
TACTO
ACTRIZ DE LA
ũ ¡ ĔũćđĖĉĎ
jeZei iki YWfh_Y^ei ieXh[ bei fhe\[ieh[i o dWdWi" YWkiWdZe Z_ijhWYY_ed[i YedijWdj[i$ Ik YedZkYjW [i [b h[Ó[`e Z[ kdW l_ZW _d\[b_p$ BW ^_ijeh_W i[h| bW eZ_i[W Z[ kd Wceh gk[ iehj[W# h| kd cWjh_ced_e [gk_leYWZe" kdW Yh_i_i Z[ beYkhW" kd ^_`e" kdei fWZh[i W`[dei" ^WijW bW \[b_p kd_ d Z[ 7X_]W b o ik fhe\[ieh 9Whbei 7b\h[Ze$
ĸ$# 1#1.ũĉćũıũ, 19.ũĉćĹũ 4ũ2(34 !(¢-ũ#!.-¢,(! ũ2#1;ũ/1¢2/#1 ũ #-ũ#23#ũ/#1~.".ũ+.ũ!4 +ũ "ēũ"(2$143 1;ũ#-ũ !.,/ ~ ũ"#ũ242ũ$ ,(+( 1#2ēũ Ėũ 4#231 ũ! / !(" "ũ/ 1 ũ , 1ũ 1.3 ũ"#ũ+ ũ #7/#1(#-!( ũ"#ũ2#1ũ , ".2ē
PICA
PLATERO
ĸ#-#1.ũĉćũıũ$# 1#1.ũĈĒĹ 42ũ-#%.!(.2ũ2#1;-ũ,4!'.ũ,;2ũ !3(5.2ũ #-ũ#23#ũ/#1~.".ũ#2/#!( +,#-3#ũ+.2ũ04#ũ2#ũ 1#+ !(.- -ũ!.-ũ+ ũ +(,#-3 !(¢-ũ8ũ'.% 1ēũ Ėũ +ũ;-(,.ũ31 -04(+.ũũ8ũ)423.ũ /4#"#ũ"#2!4 1(1ũ,;2ũ!.2 2ũ04#ũ3.".2ũ +.2ũ2 (.2ē
ũũ
MENTO DE PESCA
YUNQUE DEL
Ġ !(¢ũ4-ũ"~ ũ!.,.ũ'.8ğ
4ũ$4#19 ũ"#ũ5.+4-3 "ũ8ũ"(2!(/+(- ũ2.-ũ "($~!(+#2ũ"#ũ!.,/ 1 1ēũ 23.2ũ".-#2ũ"#ũ24ũ #2/~1(34ũ' !#-ũ04#ũ+.%1#ũ+.ũ04#ũ2#ũ/1./.-ı % ũ#-ũ!4 +04(#1ũ;1# ũ"#ũ24ũ5(" ēũ +ũ.1"#-ũ 8ũ+ ũ!.-23 -!( ũ+.ũ++#5 1;-ũ ũ!.-04(23 1ũ 3.".2ũ242ũ24# .2ēũ
DEMENTE
gk[ WYWX[ Yed bW d[Y[i_ZWZ Z[ Yh_Wh ]WdWZe$ ;d l[p Z[ Yedi[]k_h bW YWhd[ Z[ bei Wd_cWb[i Yh_WZei [d ]hWd# `Wi" Feij gk_[h[ Yh[Wh bei Òb[j[i [d [b bWXehWjeh_e" Z_h[YjWc[dj[ Z[ Y bkbWi cWZh[ ckiYkbWh[i$ I_ be be]hW" [ijW j[Ydebe] W jhWdi\eh# cWh| bW cWd[hW [d bW gk[ fheZk# Y_cei Wb_c[djei$ ;b fhe\[ieh Feij de [i [b fh_# c[he gk[ ik[ W Yed Yedi[]k_h Wb]e Wi $ 7 c[Z_WZei Z[b i_]be NN" [b ^ebWdZ i M_bb[c lWd ;[b[d Ä[djedY[i kd [ijkZ_Wdj[
Z[ c[Z_Y_dWÄ _cW]_d Yh[Wh YWh# d[ i_d cWjWh Wd_cWb[i" kj_b_pWd# Ze Y bkbWi cWZh[$ KdW Y bkbW cWZh[ [i kd j_fe [if[Y_Wb Z[ Y bkbW YWfWp Z[ h[fb_# YWhi[ W i c_icW ckY^Wi l[Y[i" Z_\[h[dY_|dZei[ [d j_fei Z[ Y bk# bWi [if[Y_Wb_pWZWi" Yece Y bkbWi ckiYkbWh[i$
}
.'-ũ , 1.2#ũ +#,(-% ĸĈđČĒıĈĒČĎĹ
ŗũũ
?d][d_[he [b Yjh_Ye _d]b i" Wk# jeh Z[ bW [nfb_YWY_ d Y_[dj ÒYW o Z[ bW Wfb_YWY_ d fh|Yj_YW W be gk[ ^eo YedeY[cei Yece È;\[Y# je ;Z_iedÉ" kd Z W Yece ^eo Z[ '/&* Z_e W YedeY[h ik _dl[dje Z[ bW l|blkbW [b[Yjh d_YW Z_eZe" gk[ WXh_ [b YWc_de W bei fei# j[h_eh[i WlWdY[i Z[ bW [b[Yjh # d_YW ceZ[hdW$ D_ e fheZ_]_e" e\h[Y_ ik fh_c[hW Yed\[h[dY_W Z[ [b[YjhecW]d[j_ice W bei ') W ei$ Fhe\[ieh Z[ _d][d_[h W [b Yjh_YW [d bW Kd_l[hi_ZWZ Z[ 9WcXh_Z][" fhedkdY_ [b fh_c[h Z_iYkhie [d bW Yedij_jk# Y_ d Z[ bW IeY_[ZWZ Z[ < i_YW Z[ BedZh[i ZedZ[ [nfkie bW j[eh W Z[ bWi Y[bZWi ]Wbl|d_YWi$
ĸ)4+(.ũĉĊũıũ %.23.ũĉĉĹũ
ũ1#+ !(¢-ũ!.-ũ242ũ!4 ".2ũ8ũ$ ,(+( ũ/.ı +~3(! ũ3(#-"#-ũ ũ,#).1 1ũ8ũ "ēũ2#1;ũ,4!'.ũ ,;2ũ/ 13(!(/ 3(5.ũ#-ũ+ 2ũ !3(5(" "#2ũ$ ,(ı +( 1#2ēũ Ėũ $1.-3#ũ!.-ũ2#1#-(" "ũ +.2ũ 11# 3.2ũ"#ũ5(.+#-!( ũ"#ũ.31.2ēũ
ũũ
ĸ %.23.ũĉĊũıũ2#/3(#, 1#ũĉĉĹ
ũ#!.-.,~ ũ"#ũ24ũ/ 1#) ũ2#1;ũ !3(5 ũ8ũ /1¢2/#1 ũ8 ũ04#ũ#23 ũ2#1;ũ,4!'.ũ,;2ũ(-ı 31_/(".ũ +ũ,.,#-3.ũ"#ũ(-5#13(1ũ24ũ"(-#1.ēũ Ėũ 4#ũ+ ũ .-" "ũ2# ũ#+ũ3#2.1.ũ "#ũ24ũ#2/~1(34ē
ũũ
ĸ2#/3(#, 1#ũĉĊũıũ.!34 1#ũĉĉĹ
ũ5(" ũ#-ũ/ 1#) ũ2#1;ũ,4!'.ũ,;2ũ !3(5 ũ 8 ũ04#ũ , .2ũ!.,/#3(1;-ũ. )#3(5.2ũ8ũ "#2#.2ēũ Ėũ 4#ũ+ ũ .-" "ũ2# ũ#+ũ 3#2.1.ũ"#ũ24ũ#2/~1(34ē
ũũ
ĸ.!34 1#ũĉĊũıũ-.5(#, 1#ũĉĈĹũ 4ũ2 +4"ũ2#ũ5#1;ũ #-#ă!( " ũ/.1ũ24ũ 5(3 +(" "ũ8ũ !3(5(" "ũ$~2(! ēũ #-31.ũ"#ũ24ũ 31 ).ũ "ēũ2#1;ũ,4!'.ũ,;2ũ/ 13(!(/ 3(5.ēũ Ėũ 1 ũ/1.%1#2 1ũ#2ũ!.-5#-(#-ı 3#ũ!.-3 1ũ!.-ũ+.2ũ.31.2ē
ũũ
ĸ-.5(#, 1#ũĉĉũıũ"(!(#, 1#ũĉĈĹũ 42ũ'().2ũ%.9 1;-ũ"#ũ4- ũ5(3 +(" "ũ#-5("( ı +#ũ+.ũ!4 +ũ+#ũ"#2% 23 1;ũ/#1.ũ+.ũ' 1;ũ,48ũ $#+(9ēũ Ėũ (ũ2#ũ04#" ũ,(1 -".ũ 31;2ũ/(#1"#ũ#+ũ3(#,/.ũ8ũ+ ũ./.134-(" "ũ "#ũ 5 -9 1ē
ũũ
ĸ"(!(#, 1#ũĉĉũıũ#-#1.ũĈĒĹ ." ũ !3(5(" "ũ04#ũ1# +(!#ũ#-ũ$ ,(+( ũ#-ũ #23#ũ,.,#-3.ũ2#15(1;ũ/ 1 ũ !#1! 1+.2ũ8ũ $.13 +#!#1ũ+.2ũ+ 9.2ũ $#!3(5.2ēũ ı Ėũ (" ũ+ 2ũ!.-2#!4#-!( 2ũ"#ũ242ũ !34 !(.-#2ē
Ä Ä†
0%!),+ (! 01. Ä Ä†Ĺ?)%*Ä‹
Ĺ?Ĺ?ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?
#+#"(- ĹŠ (#5#2 #2 2ĹŠÄ?ÄŽĹŠ*(+.2
ēŊ !4 ".1ĹŠ/ 13(!(/¢Ŋ!.-ĹŠÄˆÄ?ÄˆĹŠ"#/.13(23 2ĹŠ#-ĹŠ 4 " + ) 1 Ä“
Äą
-Ŋ#23 Ŋ#"(!(¢-Ŋ -.2Ŋ/ 2 ,.2 +#7 -"1 Ŋ 2!. 1
#2 2ŊĎđŊ*(+.2
.1%#Ŋ .+  .2 3(- )#ĹŊ5#+.!(" "
2ĹŠ+ ĹŠ/1(,#1 ĹŠ5#9ĹŠ04#ĹŠ !4 Äą ".1ĹŠ24, ĹŠ2(#3#ĹŠ,#" ++ 2ĹŠ"#ĹŠ .1.ĹŠ8ĹŠ!.-ĹŠ4-ĹŠ%+. +ĹŠ"#ĹŠÄ‰ÄŒĹŠ /1#2# 2ĔŊ2#ĹŠ4 (! ĹŠ"_!(,.ĹŠ#-ĹŠ #23 ĹŠ!(3 Ä“ BW Z[b[]WY_ÂŒd [YkWjeh_WdW gk[ bb[]ÂŒ W =kWZWbW`WhW j[d‡W Yece eX`[j_le ikf[hWh bW fWhj_Y_fWY_ÂŒd Z[ H‡e Z[ @Wd[_he 8hWi_b (&&-" ZedZ[ Yedi_]k_ÂŒ + c[ZWbbWi Z[ ehe" YkWjhe Z[ fbWjW o '& Z[ Xhed# Y[" kd jejWb Z[ '/ fh[i[Wi$ ;d Cƒn_Ye" ;YkWZeh h[Wb_pÂŒ ik c[`eh fWhj_Y_fWY_ÂŒd [d @k[]ei FWdWc[h_YWdei" oW gk[ ikcÂŒ i_[j[ ehei" eY^e fbWjWi o dk[l[ XhedY[i$ 7Z[c|i i[ Yedi_]k_ÂŒ bW fh_c[hW c[ZWbbW ZehWZW [d Xen[e" Wb]e ^_ijÂŒh_Ye" dk[lWc[d# j[ \k[hj[i [d ^Wbj[heĂ’b_W" f[he
_2 1ĹŠ"#ĹŠ #2 1# -.3 )#ĹŠ ÄˆĹŠÄ‰Ä‡Ä‡
-(#+ĹŠ (5#1.2 1 3#ĹŠÄ?Ä?ĹŠ*(+.2
.1%#ĹŠ 11.8. #2 2ĹŠÄˆÄ‡ÄŽĹŠ*(+.2
ZƒX_b[i [d cWhY^W o de i[ fkZe h[lWb_ZWh [b j‡jkbe [d \‘jXeb$ ;b YecX_dWZe ĂˆJh_YebehÉ gk[# ZÂŒ feh [dY_cW Z[ 8eb_l_W" 9^_b[" F[h‘" FWhW]kWo o Khk]kWo o i[ l_e ikf[hWZe feh fej[dY_Wi Yece 8hWi_b" 7h][dj_dW" 9ebecX_W o L[d[pk[bW [d IkZWcƒh_YW$ ;b b‡Z[h Z[ bei `k[]ei \k[ ;i# jWZei Kd_Zei Yed (), c[jWb[i" 9kXW eXjkle '), o 8hWi_b '*' 9kXW Yedi_]k_ÂŒ c|i fh[i[Wi Ze# hWZWi feh [ie [b i[]kdZe bk]Wh $ BW _dl[hi_ÂŒd Z[ bW Z_h_][dY_W Z[fehj_lW Z[b fW‡i Z_e iki \hk#
ĹŠ #" ++#1.ĹŠ !4 ".1
-ŊĉÄ?ĹŠ"(2!(/+(- 2ĹŠ2#ĹŠ/ 13(!(/¢
#" ++ 2ĹŠ"#ĹŠ + 3
3+#3(2,.ĹŠ Ĺ—ĹŠ 81.-ĹŠ (#"1 ĹŠ +3.ĹŠ +3.ĹŠ Ĺ—ĹŠ 5(#1ĹŠ #11~-ĹŠ Ĺ—ĹŠ 1~ ĹŠ 1 ,(++.ĹŠ ÄŒÄ‡Ä‡ĹŠ5 ++ 2ĹŠ .7#.ĹŠ Ĺ—ĹŠ (,#ĹŠ .13#9ĹŠ .7#.ĹŠ Ĺ—ĹŠ 4+(.ĹŠ 23(++.ĹŠ #2 2ĹŠ Ĺ—ĹŠ (! 1".ĹŠ +.1#2ĹŠ Ĺ—ĹŠ ,/.9 -.Äą 4(1.9ĹŠ #-(2ĹŠ
ĉŊ Ĉ Ĉ Ĉ Ĉ Ĉ Ĉ
#" ++ 2ĹŠ"#ĹŠ 1.-!#
Ŋ .7#. ŗŊ 1+.2Ŋ ¢-%.1 Ŋ Ŋ #2 2 1 -!(2!.Ŋ 4 " ,4"Ŋ ŗŊ Ŋ 4!' ŗŊ 4 -Ŋ +5#1"#Ŋ Ŋ 4!' ŗŊ (2#33#Ŋ -3#2Ŋ Ŋ 4!' ŗŊ . -Ŋ + -!.Ŋ #13.Ŋ ( .ŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊŊ (!1.3#-(2 + ŗŊ Ċ Ŋ ŗŊ 04(/.Ŋ"#Ŋ !04#3 .+Ŋ
jei o Z[`Œ [d YbWhe gk[ [b jhWXW# `e [ij| X_[d [dYWc_dWZe" f[he jWcX_ƒd \WbjWd ckY^Wi Z_iY_# fb_dWi feh c[`ehWh$
3 +.ĹŠ #1#
.7#.ĹŠ,;2ĹŠ"#ĹŠÄ’ÄˆĹŠ*(+.2
Ä Ä‡
Ĺ? ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?ÄŒĹ?
#Ŋ !3(5¢Ŋ+ Ŋļ Č
ĹŠ
(% Ŋ"#Ŋ 4(3.Ŋ%.+#¢Ŋ 8#1Ŋ Ŋ #/.13(5.Ŋ 4#-! ēŊ 1!.2ĔŊ # 2!.ĔŊ .-9;+#9Ŋ8Ŋ"#Ŋ+ Ŋ 149Ŋ#2!1( (#1.-Ŋ+ 2Ŋ!($1 2Ŋ#-Ŋ #+Ŋ 23 "(.Ŋ 2 Ŋ + -! ē
Č Ĉ
ēŊ
B_]W :[fehj_lW Kd_l[hi_jWh_W Z[ Gk_je o :[fehj_le 9k[dYW WXh_[# hed bW \[Y^W ZƒY_cW gk_djW [d bW I[h_[ 7 Z[b 9Wcf[edWje ;YkWje# h_Wde Z[ \‘jXeb$ ;b Ăˆ7bXeÉ h[ced# jÂŒ kd h[ikbjWZe gk[ b[ [hW WZl[h# ie" Yed bW l_Yjeh_W bW ĂˆKÉ lk[bl[ W bW f[b[W feh [b fh_c[h bk]Wh$ :[ \ehcW j[cfhWd[hW bW l_# i_jW i[ fkie [d l[djW`W$ NWl_[h
HeXb[i" Wb c_dkje )" Z[Ă’d_ÂŒ Yed h[cWj[ YhkpWZe Wdj[ bW iWb_ZW Z[b YWdY[hX[he 7b[nWdZ[h :ec‡d# ]k[p$ BW h[ifk[ijW kd_l[hi_jW# h_W Whh_XÂŒ Wb c_dkje ()$ >[hd|d 8WhYei" ]eb[WZeh Ăˆc[h[d]k[É" Z[# Yh[jWXW bW _]kWbZWZ$ 8WhYei jWcX_ƒd [ijkle _d# lebkYhWZe [d [b i[]kdZe jWdje Ăˆ7pkY[dWÉ" Ăˆ;b F_hWjWÉ Z_ifWhÂŒ Wb cWhYe Z[ ;ijWXWd :h[[h" gk_[d Z_e h[Xej[" [ij[ \k[ Wfhel[Y^W# Ze feh [b bWj[hWb Z_[ijhe Dƒ_Y[h H[WiYe" gk_[d" Wb c_dkje )," h[# cedjWXW [b cWhYWZeh$ 7 feYe Z[ gk[ YedYbkoW bW fh_c[hW fWhj[" [b lebWdj[ Wh# ][dj_de ;p[gk_[b =edp|b[p" Yed
ēŊ +Ŋ+ 3#1 +Ŋ"(#231.Ŋ"#Ŋ+.2Ŋļ,#1#-%4#2ČŊ!#+# 1 Ŋ+ Ŋ2#%4-" Ŋ!.-04(23 ē
[ngk_i_je bWdpWc_[dje Z[ j_he b_# Xh[" Yedl_hj_ÂŒ [b j[hY[h ]eb fWhW [b ĂˆH[o Z[ 9efWiÉ" Yed [b )#' i[ \k[hed Wb Z[iYWdie$
BW ]eb[WZW i[ i[bbÂŒ W Z_[p c_# dkjei Z[ gk[ Ă’dWb_Y[ [b fWhj_Ze$ BW [nf[h_[dY_W Z[ Kb_i[i Z[ bW 9hkp" kd ]k[hh[he Z[ c_b XWjW#
bbWi" WfWh[Y_Œ [d [b h[Yj|d]kbe l[hZ[ Z[ FedY_Wde$ Kd h[cWj[ fej[dj[ Z[ c[Z_W Z_ijWdY_W iW# YkZ_Œ bW hWjed[hW Z[ :h[[h$
+ĹŠ 4(3.ĹŠ!#"#ĹŠ/4-3.2
ĉ ć
} ēŊ .+~5 1Ŋ ¢,#9ŊĸĊĚĔŊ"#$#-2 Ŋ"#Ŋ -3 ĔŊ$#23#) Ŋ+ Ŋ2#%4-" Ŋ!.-Ĺ 04(23 Ŋ"#Ŋ24Ŋ#04(/.ē
#ĹŠ"#114, ĹŠ#+ĹŠÄĽ}".+.ÄŚ :ei h[ikbjWZei WZl[hiei ^W Ye# i[Y^WZe 8WhY[bedW [d bW fWiWZW i[cWdW$ ;b c_ƒhYeb[i de fkZe [d YWiW Wdj[ B:K o Wo[h YWoÂŒ [d bW fhel_dY_W Z[ CWdWX‡ Wdj[ [b CWdjW (#& $ =WhYƒi o Eb_l[hW b[ Z_[hed bW l_Yjeh_W Wb Ăˆ7jkd[heÉ$ ;b fWhj_Ze i[ Z[Ă’d_ÂŒ [d bei
+ ĹŠ"#ĹŠ/.2(!(.-#2 .1-#.ĹŠ !(.- +ĹŠ ĹŠ ĹŠ 04(/.ĹŠ ÄˆÄšĹŠ #/ēŊ 4(3.ĹŠĹŠ ĉĚŊ ,#+#!ĹŠĹŠ ĊĚŊ (% ĹŠ"#ĹŠ 4(3.ĹŠ ÄŒÄšĹŠ 1!#+.- ĹŠĹŠ ĎĚŊ +ĹŠ !(.- +ĹŠĹŠ Ä?ĚŊ +,#".ĹŠĹŠ Ä?ĚŊ #/ēŊ 4#-! ĹŠĹŠ đĚŊ -"#/#-"(#-3#ĹŠĹŠ ĒĚŊ (% ĹŠ"#ĹŠ .) ĹŠĹŠ ÄˆÄ‡ÄšĹŠ 2/.+(ĹŠĹŠ ÄˆÄˆÄšĹŠ ĹŠ -3 ĹŠĹŠ ÄˆÄ‰ÄšĹŠ ĹŠ , 41 ĹŠĹŠ
32ēŊ ÄŠÄŽĹŠĹŠ ĉĒŊŊ ĉĒŊŊ ĉđŊŊ Ä‰ÄŒĹŠĹŠ ĉĉŊŊ Ä‰ÄˆĹŠĹŠ ÄˆÄ‘ĹŠĹŠ ÄˆÄ‘ĹŠĹŠ ĈÄ?ĹŠĹŠ ÄˆÄŽĹŠĹŠ ÄˆÄ‰ĹŠĹŠ
Ĉđ ĈČ Ĉĉ Ä? ć ĹĊ ÄąÄˆ Ĺĉ ĹĎ ÄąÄˆÄˆ ÄąÄˆÄŠĹŠ ÄąÄˆÄ?
c_dkjei Z[ WZ_Y_ÂŒd$ 9Whbei =Wh# Yƒi" Yed kd h[cWj[ Z[ c[Z_W Z_i# jWdY_W" l[dY_ÂŒ bW c[jW Z[ C|n_# ce 8Wd]k[hW [d [b c_dkje /' Z[b ]beXWb$ 8WhY[bedW i_dj_ÂŒ [b ]ebf[ o \k[ [d fheYkhW Z[ bW _]kWbZWZ$ C_]k[b 7b[n_i Eb_l[hW [dYed# jhÂŒ Z[ifhej[]_ZW bW Z[\[diW Z[b Ăˆ9WdWh_eÉ o W XWi[ Z[ fej[dY_W f[d[jhÂŒ bWi feijh_c[h‡Wi Z[ 8Wd# ]k[hW" fWhW Wdj[ bW iWb_ZW Z[ [ij[ ‘bj_ce Z[Ă’d_h Z[ Xk[dW cWd[hW$ 9ed bW Z[hhejW 8WhY[bedW f[hZ_ÂŒ bW i[]kdZW fei_Y_ÂŒd [d bW jWXbW$
1¢7(, ĹŠ$#!' ĹŠÄ¸ÄˆÄ?Äš (_1!.+#2ĹŠ
#/ēŊ 4(3.ŊŊ IJŊŊ
(% Ŋ"#Ŋ .) -"#/#-"(#-3#ŊŊ IJŊŊ -3 , 41 ŊŊ IJŊŊ 1!#+.- ,#+#!ŊŊ IJŊŊ #/ēŊ 4#-! +,#".Ŋ ŊIJŊŊ 2/.+( ŇŊ ŊIJŊ +Ŋ !(.- +ĖŊ #Ŋ/.23#1% ē
7jhWYj_le h[ikbjÂŒ [b fWhj_Ze Z_ifkjWZe [d bW YWf_jWb Z[ bW fhel_dY_W Z[b 9^_cXehW# pe [djh[ 9[djhe :[fehj_le Ebc[Ze o IeY_[ZWZ :[feh# j_le Gk_je$ H_eXWcX[‹ei o ĂˆY^kbbWiÉ _]kWbWhed (#( $ 9ed [ij[ h[ikbjWZe bei YWf_jWb_dei cWdj_[d[d [b fh_c[h bk]Wh [d bW jWXbW$ 7 Y_dYe c_dkjei Z[ gk[ Ă’dWb_pWhW bW fh_c[hW [jWfW" kdW \WbjW Z[b fehj[he Z[b :[# fehj_le Gk_je CWhY[be ;b_# pW]W ieXh[ 7b\h[Ze HWc‘W" [d [b |h[W" \k[ Z[Yh[jWZW feh 7b\h[Ze ?djh_W]e" `k[p Z[ bW Yedj_[dZW" Yece j_he f[dWb$ 7b YeXhe \k[ 9h_ij_|d =ÂŒc[p"
gk_[d Z[Yh[jWXW bW fh_c[hW fWhW [b Ăˆ9_YbÂŒdÉ$ FWhW bW [jWfW Z[ Yecfb[c[d# je bb[]Wh‡Wd c|i ]eb[i$ CWhj‡d JWbbWh_Ye" Wb c_dkje *-" cWhYÂŒ bW i[]kdZW fWhW bW [iYkWZhW beYWb$ ;b WjWYWdj[ Wh][dj_de" [d kdW `k]WZW Wjh[l_ZW" iehj[ÂŒ bW cWhYW Z[ bei Z[\[dieh[i ĂˆWpkb]hWdWiÉ o Z[Ă’d_ÂŒ Z[ \ehcW dejWXb[$ Kd Z[if[hjWh \WXkbeie jkle [b [gk_fe Z[b [ijhWj[]W 9Whbei ?iY^_W$ Bk_i 7hcWdZe 9^[YW" Wb c_dkje ,&" cWhYÂŒ [b jWdje Z[b Z[iYk[dje fWhW bW Ăˆ7A:É o" W eY^e c_dkjei Z[b Ă’dWb Z[b fWh# j_Ze <_Z[b CWhj‡d[p" Yed ]ebf[ Z[ YWX[pW" Z[Yh[jÂŒ bW _]kWbZWZ Z[Ă’d_j_lW$
ĉ ĉ ēŊ
ēŊ ("#+Ŋ 13~-#9Ŋ, 1!¢Ŋ#+Ŋ%.+Ŋ "#Ŋ+#Ŋ"(.Ŋ+ Ŋ(%4 +" "Ŋ Ŋ+.2Ŋļ!'4++ 2Čē
+ĹŠÄĽ ., (++.ÄŚĹŠ%.+# ĹŠ 8ĹŠ#2ĹŠ2#%4-". ŊěŊ ;c[b[Y ikf[hÂŒ W
b_]W Z[ Be`W *#' o feh Z_\[# h[dY_W Z[ kd ]eb" Wi[]khŒ bW i[]kdZW YWi_bbW Z[ bW jWXbW Z[ fei_Y_ed[i Z[b YWcf[e# dWje Z[ bW i[h_[ 7$ Bei Wpkb[i" gk[ i[ fh[i[d# jWhed [d [b fh_c[h j_[cfe" Yed kd `k[]e feYe Yedl_dY[d# j[" i[ fkie [d l[djW`W ieXh[ bei , c_dkjei Z[b _d_Y_e" YkWdZe D_Yeb|i L_]d[h_ h[cWjŒ o kd XWbŒd gk[ \k[ Z[il_WZe feh [b Y[djhWb L_pYW_de" fWhW Yed# l[hj_hi[ [d bW fh_c[hW Z[ bei beYWb[i [d [b cWhYe Z[b fehj[# he be`Wde <[hd|dZ[p" Z[b [b[d# Ye l_i_jWdj[$ 9ed [b h[ikbjWZe
fWhY_Wb W \Wleh Z[ bei Wpkb[i" Ykb# c_dÂŒ [b fh_c[h j_[cfe$ FWhW [b Yecfb[c[dje" @kWd HWcÂŒd 9WhhWiYe" :J Z[ ;c[b[Y" ceZ_Ă’YÂŒ ik [ijhWj[]_W o Yed [bbe fh[i[djÂŒ kd [gk_fe c|i e\[di_# le1 i_d [cXWh]e" kd Z[iYk_Ze Z[ bW pW]W c_bbedWh_W b[ f[hc_j_ÂŒ W 9h_ij_Wd Gk_‹Œd[p [ijWXb[Y[h [b jhWdi_jeh_e '#'$ IeXh[ [b c_dkje +)" kd YedjhW# ]ebf[ Ăˆ7pkbÉ j[hc_dÂŒ Yed bW i[]kd# ZW Yedgk_ijW Z[ bei beYWb[i feh _dj[hc[Z_e Z[ L_]d[h_$ IeXh[ bei ,+ c_dkjei" kdW `k]WZW feh Z[h[# Y^W b[ f[hc_j_ÂŒ Wb khk]kWoe @eiƒ CWh_W <hWdYe" YebeYWh bW j[hY[hW Yedgk_ijW [d WhYe be`Wde$
Č Ĉ
ēŊ Ŋ
ēŊ #1- -".Ŋ ( .1Ŋĸ 94+ĚŊ /1.3#%#Ŋ#+Ŋ +¢-ē
7 bei -& c_dkjei" kdW Yehh_# ZW Z[ MWbj[h ?pW feh Z[h[Y^W" b[ f[hc_j_Œ Wb lebWdj[ <[hdWdZe =W_Xeh h[Ye][h kd h[Y^Wpe Z[b ^eh_pedjWb" fWhW Yed f_[hdW pkh# ZW WdejWh bW YkWhjW Yedgk_ijW$
ŏăāŏ ŏ ŏŏ ŏĂĀāā
ŏ +. ŏ
G<KIFEFK@:@8J
Ċ
ũ ũ ũ ũ ũ
9ED DEHC7B?:7: 7L7DP7 B7 H;>78?B?J79?âD :; B7 H;<?D;HÞ7 :; ;IC;H7B:7I ,Ŵ 50$2).4$.#$.4$Ŵ $.$2 ,Ŵ#$Ŵ , Ŵ $%).$2 Ŵ 34 4 ,Ŵ 3-$2 ,# 3ğŴ $,3/.Ŵ (5,#$Ŵ 5 ./ğŴ #)*/Ŵ 15$Ŵ 3$Ŵ ( Ŵ ,/&2 #/Ŵ $34 !),): 2Ŵ -$"<.)" -$.4$Ŵ Ŵ $3 Ŵ $-02$ļ 3 Ŵ ).#5342) ,Ŵ 9Ŵ 15$Ŵ , Ŵ /0$2 ļ ").Ŵ $34<Ŵ $.Ŵ 5.Ŵ ĝĔţŴ #$Ŵ 35Ŵ " 0 ")# #Ğ Ĭ 3/Ŵ 3)&.)%)" Ŵ 15$Ŵ $34 -/3Ŵ 02/"$3 .#/Ŵ "25#/Ŵ $.Ŵ 5./3Ŵ ēĒėŴ ! 22),$3Ŵ0/2Ŵ# Ŵ9Ŵ4/# 3Ŵ, 3Ŵ5.)ļ # #$3Ŵ$34<.Ŵ$.Ŵ3$26)")/ĭğŴ$80,)" Ŵ $,Ŵ 50$2).4$.#$.4$Ğ 3 3Ŵ 5.)# #$3Ŵ $34<.Ŵ /0$2 .#/Ŵ #$Ŵ- .$2 Ŵ$34 !,$Ŵ9Ŵ, Ŵ02/#5"ļ ").Ŵ #$Ŵ 4/#/3Ŵ ,/3Ŵ #$2)6 #/3Ŵ $3Ŵ "/-0,$4 Ŵ "/-/Ŵ & 3/,). Ŵ 3×0$2ğŴ #)j3$,Ŵ #/3Ŵ 9Ŵ 02j-)5-ğŴ & 3/,). Ŵ
$842 ğŴ& 3Ŵ,)"5 #/Ŵ#$Ŵ0$42,$/Ŵ9Ŵ "/-/Ŵ$34<Ŵ$34 !,$")#/Ŵ$.Ŵ$,Ŵ"2/ļ 3% ,4/Ğ ./&2 - Ŵ9Ŵ3).Ŵ- 9/2$3Ŵ"/.42 ļ 4)$-0/3Ğ
Ŵ 02/#5"").Ŵ #$Ŵ 3% ,4/Ŵ "5!2$Ŵ , Ŵ#$- .# Ŵ#$,Ŵ0 3Ŵ0/2Ŵ,/Ŵ15$Ŵ ,Ŵ 6 ."$Ŵ #$,Ŵ 02/9$"4/Ŵ $34<Ŵ ,,$. Ŵ #$Ŵ -5"( Ŵ 3 4)3% "").Ŵ Ŵ ($"(/Ŵ0/2Ŵ% 3$3ġŴ, Ŵ% 3$Ŵ5./Ŵ15$Ŵ , 3Ŵ 54/2)# #$3Ŵ #$Ŵ , Ŵ 0, .4 Ŵ 4)$.$Ŵ$,ŴėĒŴ0/2Ŵ")$.4/Ŵ9Ŵ, Ŵ#/3Ŵ$,Ŵ ).#5342) ,Ŵ -<3Ŵ )-0/24 .4$Ŵ #$,Ŵ ĚēŴ0/2Ŵ")$.4/Ğ "5 #/2Ğ
Ŵ % 3$Ŵ 5./Ŵ #$,Ŵ 02/9$"4/Ŵ #$Ŵ /#/Ŵ $,Ŵ 4)$-0/Ŵ 3$Ŵ ( "$Ŵ 5. Ŵ $( !),)4 ").Ŵ "/-02$.#$Ŵ , Ŵ ).30$"").Ŵ #$Ŵ ,/3Ŵ $15)0/3Ŵ 0 2 Ŵ ).4$26$.").Ŵ #$Ŵ , Ŵ 5.)# #Ŵ ğŴ 4$.$2Ŵ,/3Ŵ#$2)6 #/3Ŵ#$,Ŵ0$42,$/Ŵ "59/3Ŵ42 ! */3Ŵ02).")0 ,$3Ŵ3/.Ŵ$,Ŵ #$Ŵ - .$2 Ŵ ./2- ,Ŵ 0 2 Ŵ ! 3ļ " -!)/Ŵ4 .4/Ŵ#$,Ŵ2$ "4/2Ŵ15$Ŵ3$Ŵ 4$"$2Ŵ Ŵ ,/3Ŵ #)34).4/3Ŵ 05.4/3Ŵ #$,Ŵ $."5$.42 Ŵ $.Ŵ , 3Ŵ ).34 , ")/.$3Ŵ "5 #/2Ğ #$Ŵ , Ŵ $%).$2 ğŴ "/-/Ŵ #$,Ŵ 2$&$ļ .$2 #/2Ŵ15$Ŵ$34$Ŵ-$3Ŵ 22)! 2<ŴŴ Ŵ .Ŵ 2$, ").Ŵ ,Ŵ 02/9$"4/Ŵ #$Ŵ , Ŵ")5# #Ŵ#$Ŵ 3-$2 ,# 3ĞŴ 2 Ŵ, Ŵ $( !),)4 ").Ŵ #$Ŵ , Ŵ $%).$2 Ŵ % 3$Ŵ#/3Ŵ3$Ŵ$30$2 Ŵ, Ŵ,,$& # Ŵ#$Ŵ 3-$2 ,# 3ğŴ j34$Ŵ 3$Ŵ "5-0,$Ŵ ĕěęŴ "/.4$.$#/2$3Ŵ "/.Ŵ $15)0/3Ŵ
.5$6/3Ğ
3-$2 ,# 3Ŵ$,ŴēėŴ#$Ŵ./6)$-!2$Ğ
,Ŵ02/&2 - ŴŴ&,/! ,ŴŴ#$Ŵ2$( !)ļ ,)4 ").Ŵ4$2-). Ŵ$.Ŵ$,Ŵ «/ŴĔĒēĕğŴ -)$.42 3Ŵ $,Ŵ " -!)/Ŵ #$,Ŵ 2$&$.$ļ 2 #/2Ŵ$34<Ŵ02$6)34/Ŵ0 2 Ŵ$,ŴĔĒēĔĞ
Ŵ 254 Ŵ $3"/&)# Ŵ 0/2Ŵ , Ŵ $-02$ļ 3 Ŵ --/$4ğŴ $." 2& # Ŵ #$,Ŵ 42 3, #/Ŵ #$,Ŵ 2$&$.$2 #/2Ŵ 3$2<Ŵ 0/2Ŵ $,Ŵ /Ŵ 3-$2 ,# 3Ŵ ( 34 Ŵ
Ŵ 2/0)") ğŴ #$3#$Ŵ #/.#$Ŵ 3$2<Ŵ 42 .30/24 #/Ŵ $.Ŵ 5. Ŵ 0, 4 %/2ļ - Ŵ $30$") ,Ŵ 0/2Ŵ 4)$22 Ŵ ( 34 Ŵ , Ŵ $%).$2 Ŵ 0 2 Ŵ 35Ŵ ).34 , ").Ŵ $,Ŵ 028)-/Ŵ «/Ğ
.Ŵ $,Ŵ ĔĒēĕŴ 3$Ŵ 0 2 ,): 2<.Ŵ /42 3Ŵ 5.)# #$3Ŵ"/-/Ŵ, Ŵ"25#/ŴĔğŴ6 " /Ŵ ĔŴ9Ŵ#2$15).ŴĔŴ0 2 Ŵ35Ŵ2$( !),)4 ļ ").Ŵ 2$30$"4)6 ğŴ $30$") ,-$.4$Ŵ $,Ŵ " -!)/Ŵ #$,Ŵ (/2./Ŵ Ŵ 3$Ŵ " -!) 2<Ŵ .4$&2 -$.4$Ğ ,Ŵ 2$&$.$2 #/2Ŵ 4)$.$Ŵ 5.Ŵ 0$3/Ŵ 02/8)- #/Ŵ #$Ŵ ęęĒŴ 4/.$, # 3ğŴ /2Ŵ/42 Ŵ0 24$Ŵ, Ŵ -02$3 Ŵ ×!,)ļ 5.Ŵ#)<-$42/Ŵ#$ŴĚĞěŴ-$42/3ğŴĕęĞĕŴ " Ŵ $42/$"5 #/2ğŴ Ŵ 42 6j3Ŵ #$Ŵ , Ŵ -$42/3Ŵ#$Ŵ,/.&)45#Ŵ9Ŵ5.Ŵ$30$3/2Ŵ $2$.") Ŵ#$Ŵ $&52)# #Ŵ#$Ŵ ,5#Ŵ #$Ŵ ėŴ "$.4 -$42/3ĞŴ ,Ŵ #)3$«/Ŵ $3Ŵ 9Ŵ -!)$.4$Ŵ( Ŵ#)3$« #/Ŵ5.Ŵ02/ļ Ŵ 15$Ŵ $34<Ŵ ! */Ŵ $,Ŵ $34<.# 2Ŵ &2 - Ŵ #$Ŵ 4$.").Ŵ Ŵ ,/3Ŵ 42 ļ #$Ŵ , Ŵ /")$# #Ŵ -$2)" . Ŵ #$Ŵ ! * #/2$3Ŵ #$Ŵ 4/#/Ŵ $,Ŵ 3)34$- Ŵ .&$.)$2/3Ŵ $"<.)"/3ŴŃ ńĞ $42/$"5 #/2Ŵ 15$Ŵ ( .Ŵ #15)2)#/Ŵ ,&5. Ŵ$.%$2-$# #Ŵ02/%$3)/. ,Ŵ/Ŵ 52 .4$Ŵ $,Ŵ 02/"$3/Ŵ #$Ŵ " -!)/3Ŵ 15$Ŵ )-0,)" 2<.Ŵ , Ŵ 0 2 ,): ļ " 4 342%)" Ğ ").Ŵ 4$-0/2 ,Ŵ #$Ŵ $34 Ŵ 0, .4 ğŴ /#/3Ŵ$34<.Ŵ3)$.#/Ŵ"($15$ #/3Ŵ $,Ŵ &/!)$2./Ŵ & 2 .4): Ŵ !3/,5ļ 9Ŵ 4)$.$.Ŵ 5.Ŵ "/.42/,Ŵ #$"5 #/ĞŴ 4 -$.4$Ŵ $,Ŵ ! 34$")-)$.4/Ŵ #$Ŵ
-$.4 !,$-$.4$Ŵ 0/2Ŵ $,Ŵ " 3/Ŵ "/-!534)!,$3Ğ 30$43 Ŵ ,&5./3Ŵ 42 ! * #/ļ 2$3Ŵ 15$Ŵ 3$Ŵ #$36)."5, 2/.Ŵ #$Ŵ , Ŵ Ŵ2$( !),)4 ").Ŵ#$Ŵ, Ŵ $%).$2 Ŵ $-02$3 Ŵ ./Ŵ 05#)$2/.Ŵ "/.4).5 2Ŵ 3-$2 ,# 3Ŵ 3$2<Ŵ #$Ŵ !$.$%)")/Ŵ 35Ŵ 42 4 -)$.4/ĞŴ /Ŵ /!34 .4$Ŵ 0 2 Ŵ $,Ŵ 0 3ğŴ #$-<3Ŵ #$Ŵ %5.ļ 15)$.$3Ŵ 2$).&2$3 2/.Ŵ 3/.Ŵ 4$.ļ ")/. 2Ŵ$.Ŵ4/# Ŵ35Ŵ" 0 ")# #ğŴ3$Ŵ ,/&2 2<Ŵ-$*/2 3Ŵ$.Ŵ, Ŵ" ,)# #Ŵ#$Ŵ #)#/3Ŵ0 2 Ŵ$34 !),): 2Ŵ35Ŵ3 ,5#Ğ ,/3Ŵ "/-!534)!,$3Ŵ 9Ŵ #)3-).5)2Ŵ , Ŵ ,Ŵ 350$2).4$.#$.4$Ŵ #$Ŵ , Ŵ "/.4 -). ").Ŵ -!)$.4 ,Ğ $%).$2 Ŵ#$Ŵ 3-$2 ,# 3ğŴ $,3/.Ŵ (5,#$Ŵ 5 ./ğŴ ).%/2-Ŵ 15$Ŵ 3$Ŵ $34<Ŵ Ŵ , Ŵ $30$2 Ŵ #$,Ŵ 22)!/Ŵ #$,Ŵ 2$&$.$2 #/2Ŵ 0 2 Ŵ , Ŵ -0,) ").Ŵ #$Ŵ, Ŵ $%).$2 ğŴ-)3-/Ŵ15$Ŵ#$!$Ŵ ,,$& 2Ŵ ,Ŵ 5$24/Ŵ /-$2") ,Ŵ #$Ŵ
Ä Ä€
ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä Ĺ?
Ĺ? +. Ĺ?
+( -9 ĹŠÄĽ-.ĹŠ2#ĹŠ 04#"¢Ŋ 31;2ÄŚ Æ7Y| ^kXe Z_iYki_ed[i" [b c_i# ce 7bYWbZ[ Z[b 9WdjÂŒd gk[ dei WYecfW‹Œ [d [ijW efehjkd_ZWZ i[ Z_e Yk[djW Z[ bW \ehcW YÂŒce dei f[h`kZ_YÂŒ [b |hX_jhe" ƒb fh[# i[djÂŒ ik fhej[ijW feh bW cWd[# hW Yece b[ c[j_[hed cWde Wb fWhj_Ze" [ij|XWcei ' W ' o Wb \_dWb dei ^_Y_[hed [b i[]kdZe
]ebÇ" [nfh[iÂŒ l‡W j[b[\ÂŒd_# YW L_bZ[h 9^|l[p 9Wij_bbe" [djh[dWZeh Z[ 7b_WdpW Z[b FW_bÂŒd$ Be Y_[hje \k[ gk[ [b Yed# `kdje \hedj[h_pe \k[ Z[hhe# jWZe [b i|XWZe Wdj[h_eh feh Ă›]k_bWi Z[ IWdje :ec_d]e Z[ bei Ji|Y^_bWi" Yed [b cWh# YWZeh Z[ ( W '" Yed be YkWb bei Zei Yed`kdjei [ic[hWbZ[‹ei lebl_[hed W f[hZ[h bei i[_i fkdjei Z_ifkjWZei$ ;d bei Zei ]hkfei" bWi [i# YkWZhWi Z[ bW Fhel_dY_W ied bei Yeb[hei" Yed kd fkdje 7b_WdpW Z[b FW_bÂŒd o Y[he kd_# ZWZ[i" HeYW\k[hj[" [djh[ bei Zei ^Wd Z_ifkjWZe (* fkd# jei" Z[ bei YkWb[i Wf[dWi ^Wd ]WdWZe kde" YedĂ’hcWdZe Wi‡ [b XW`e h[dZ_c_[dje gk[ l_[# d[d Z[ceijhWdZe$ ēŊ 2ĹŠ./.134-(" "#2ĹŠ04#ĹŠ345.ĹŠ .! $4#13#ĹŠ#-ĹŠ#+ĹŠ/1(,#1ĹŠ3(#,/.ĹŠ-.ĹŠ+ 2ĹŠ24/.ĹŠ /1.5#!' 1ĔŊ#-ĹŠ+ ĹŠ$1 !!(¢-ĹŠ!.,/+#,#-Äą 3 1( ĔŊ-.ĹŠ(-04(#3¢Ŋ) ,;2ĹŠ+ ĹŠ/.13#1~ ĹŠ "5#12 1( Ä“
.! $4#13#Ŋ5.+5(¢ŊŊ Ŋ/#1"#1Ŋ#-Ŋ! 2
-ĹŠ#23 ĹŠ./.134-(" "ĹŠ$4#ĹŠ"#11.3 ".ĹŠ/.1ĹŠ #Äą 11.5( 1(.ĹŠ"#ĹŠ 41;-ĹŠ/.1ĹŠ+ ĹŠ,~-(, ĹŠ"($#1#-!( Ä“
ēŊ !!(.-#2Ŋ"#+Ŋ/ 13(".Ŋ#-31#Ŋ:%4(+ 2Ŋ"#Ŋ -3.Ŋ .,(-%.Ŋ8Ŋ +( -9 Ŋ "#+Ŋ (+¢-Ŋ"#Ŋ -Ŋ .1#-9.ē -(&&*%a]
;djh[ bei WYecfW‹Wdj[i Z[b YbkX <[hhel_Wh_ei Z[ :kh|d i[ [dYed# jhWXW [b [ic[hWbZ[‹e 7dZ[hied >khjWZe" gk_[d[i Wb Ă’dWb Z[b fWh# j_Ze `k]WZe Wdj[ HeYW\k[hj[" i[ h[kd_[hed [d [b fehjWb Z[ bW YWiW Z[ =[hWhZe ;ijkf_‹|d CWhj‡d[p" \h[dj[ Wb [ijWZ_e Ăˆ<eba[ 7dZ[hiedÉ$ Bei Yec[djWh_ei ]_hWXWd [d jehde Wb ?dj[hpedWb Z[ 7iY[die o [b jh_kd\e be]hWZe feh bei l_i_jWd# j[i feh ' W &$ 9ece de feZ‡W i[h Z[ ejhW cWd[hW" ceijhWXWd ik \[b_Y_# ZWZ feh bW l_Yjeh_W eXj[d_ZW" W bW l[p gk[ [nfh[iWhed ik [njhW‹[pW feh [b h[dZ_c_[dje Z[b Yed`kdje Zk[‹e Z[ YWiW$ Æ:[Xe Yed\[iWh gk[ \h[dj[ W bW YWcfW‹W Ykcfb_ZW feh HeYW\k[h# j[ [d [b PedWb" deiejhei he]|XWcei fWhW gk[ de dei jeYWhW `k]Wh [b ?d# j[hpedWb Yed [bbei" [d h[Wb_ZWZ de [dj_[dZe [b XW`e h[dZ_c_[dje gk[ [ij| ceijhWdZe [b fbWdj[b [d [ijW \Wi[Ç" Z_`e kde Z[ bei Z_h_][dj[i Z[b Yed`kdje Z[b ĂˆH_[bÉ$ .+.1.2 ĹŠ1# +(" " ;i jh_ij[ YedijWjWh YÂŒce iWb[d bei WĂ’Y_edWZei Z[b [ijWZ_e" gk_[d[i W f[iWh Z[ bei cWbei h[ikbjWZei Z[b fbWdj[b" be WYecfW‹Wd Yed iki jWcXeh[i o Yehd[jWi o de Y[iWd Z[ Wb[djWhbe ZkhWdj[ Z[b Z[iWhhebbe Z[ bei Yej[`ei" Wi‡ ikY[Z_ÂŒ [b i|XWZe Wdj[h_eh" f[he Wb Ă’dWb jkl_[hed gk[ W]WY^Wh bW YWX[pW$ BWi Wdi_Wi Z[ jh_kd\e gk[ j_[d[d bei WĂ’Y_edWZei bei bb[lWd W Yec[# j[h _d`kij_Y_Wi" Yece eYkhh_ÂŒ [d [b fWhj_Ze Wdj[ <[hhel_Wh_ei$ 9kWdZe bei l_i_jWdj[i i[ fki_[hed WZ[bWdj[ [d [b cWhYWZeh W bei (. c_dkjei Z[b fh_c[h j_[cfe" i[ bWi jecWhed YedjhW bei fWiWXebWi" fWhW gk[ [d# jh[]WhWd h|f_Ze [b XWbÂŒd$ Kde Z[ bei d_‹ei" kX_YWZe [d bW
#24+3 ".2ĹŠ"#ĹŠ+ ĹŠ$#!'
1¢7(, Ŋ$#!'
Ĺ—ĹŠĹŠ 2,#1 +" 2ĹŠ
ŗŊ -Ŋ ēŊ .1#-9.
3.2
3.2
.! $4#13#ŊŊćŊIJŊ #11.5( 1(.ĹŠĹŠÄˆ Ĺ—ĹŠĹŠ -ĹŠ ēŊ .,(-%. :%4(+ 2ŊŊĉŊIJŊ +( -9 ĹŠĹŠÄˆ Ĺ—ĹŠĹŠ -ĹŠ !' + ĹŠ ēŊ , 1(++ ĹŠÄˆĹŠĹŠĹŠÄąĹŠĹŠĹŠ 4-( 41.ŊŊĉ Ĺ—ĹŠĹŠ -ĹŠ , 3. ĹŠ ēŊ 4- ŊĉŊIJŊ ēŊ ! 2ĹŠÄˆ Ĺ—ĹŠĹŠ -ĹŠ #- #6ĹŠ 3 1ŊŊĉŊĹŊŊŊ 4! 2ĹŠĹŠĹŠĹŠÄˆ Ĺ—ĹŠĹŠ -ĹŠ 4 + !#. ĹŠ 4 + !#.ŊćŊĹŊ ēŊ (-#1 ĹŠÄˆ
+( -9 Ŋ52ēŊ ēŊ 4- ŗŊ -Ŋ 41; #11.5( 1(.2Ŋ52ēŊ ēŊ 3 1 ŗŊ -Ŋ !' +
ēŊ (-#1 Ŋ52ēŊ .! $4#13# ŗŊ -Ŋ 4(3. 4! 2Ŋ52ēŊ 4 + !#. ŗŊ -Ŋ -%.+04~ 4-( 41.Ŋ52ēŊ:%4(+ 2 ŗŊ -Ŋ +Ŋ 48. ēŊ ! 2Ŋ52ēŊ ēŊ , 1(++
fehj[h‡W dehj[" Z[iZ[ WXW`e b[ h[# YbWcÂŒ W kdW f[hiedW cWoeh" Æde j_[d[ Z[h[Y^e kij[Z W _dikbjWhc[ W c_ cWZh[Ç" iki fWbWXhWi \k[hed
kdW h[ifk[ijW Wb _dikbje W bW Wkje# hW Z[ iki Z‡Wi fhel[d_[dj[ Z[iZ[ bW fbWj[W gk[ Yeb_dZW Yed bW YWbb[ IWb_dWi$
+ 2ĹŠ"#ĹŠ/.2(!(.-#2 14/.ĹŠÄˆ
.Ä“ 04(/.2ĹŠ ÄˆÄ“ÄąĹŠ 42'4!ĹŠ 4- ĹŠ ĉēĹŊŊŊŊ 4-( 41.ĹŠ ĊēĹ:%4(+ 2ĹŠ ÄŒÄ“Äą ēŊ ! 2ĹŠ ĎēĹ +( -9 ĹŠ Ä?ēĹ ēŊ , 1(++ ĹŠ
ĹŠ ÄŒĹŠ ÄŒĹŠ ÄŒĹŠ ÄŒĹŠ ÄŒĹŠ ÄŒĹŠ
ĹŠ ÄŠĹŠ ÄŠĹŠ ĉŊ ÄˆĹŠ ćŊ ćŊ
ĹŠ ÄˆĹŠ ćŊ ĉŊ ÄˆĹŠ ÄˆĹŠ ÄˆĹŠ
ĹŠ ćŊ ÄˆĹŠ ćŊ ĉŊ ÄŠĹŠ ÄŠĹŠ
ĹŠ đŊ đŊ Ä?ĹŠ ÄŠĹŠ ÄˆĹŠ ÄŠĹŠ
ĹŠ ĉŊ ÄŒĹŠ ÄŒĹŠ Ä?ĹŠ ÄŒĹŠ Ä’ĹŠ
ēŊ ÄˆÄ‡ĹŠ Ä’ĹŠ đŊŊŊŊŊŊŊ ÄŒĹŠĹŠĹŠĹŠ ÄˆĹŠĹŠĹŠĹŠĹŠ ÄˆĹŠĹŠĹŠĹŠ
Ä? ÄŒ ÄŠ ĹŠÄąĹŠÄŒ ĹŊĊ ŊĹŊÄ?
ĹŠ ÄˆĹŠ ÄˆĹŠ ĉŊ ĉŊ ĉŊ ÄŒĹŠ
ĹŠ Ä’ĹŠ ÄŽĹŠ Ä?ĹŠ Ä?ĹŠ Ä’ĹŠ ÄˆĹŠ
ĹŠ đŊ ÄŒĹŠ ÄŒĹŠ ÄŒĹŠ ÄˆÄ‡ĹŠ đŊ
ēŊ Ä’ĹŠ Ä’ĹŠĹŠĹŠĹŠĹŠĹŠ Ä?ĹŠĹŠĹŠĹŠĹŠ Ä?ĹŠĹŠĹŠĹŠĹŠ Ä?ĹŠĹŠĹŠĹŠ ćŊŊŊ
Ĉ ĹŠÄˆ ĹŠĹŠÄŠ ĹŠĹŠÄŠ ĹŠÄąĹŠĹŠÄˆ ŊĹŊÄ?
+ 2Ŋ"#Ŋ/.2(!(.-#2 14/.Ŋĉ
.Ä“ 04(/.2ĹŠ ÄˆÄ“ÄąĹŠĹŠĹŠĹŠĹŠĹŠ #6ĹŠ 3 1ĹŠ ĉēĹŊŊŊŊŊŊ ēŊ (-#1 ĹŠ ĊēĹŊŊŊŊŊŊ #11.5( 1(.ĹŠ ÄŒÄ“ÄąĹŠĹŠĹŠĹŠĹŠĹŠ 4! 2ĹŠ ĎēĹŊŊŊŊŊŊ 4 + !#.ĹŠ Ä?ēĹŊŊŊŊŊŊ .! $4#13#ĹŠ
ĹŠ ÄŒĹŠ ÄŒĹŠ ÄŒĹŠ ÄŒĹŠ ÄŒĹŠ ÄŒĹŠ
Ŋ ĊŊ ĊŊ ĉŊ ĉŊ ĉŊ ćŊ
Ŋ ćŊ ćŊ ćŊ ćŊ ćŊ ćŊ
v Ĺ‹ &Ĺ‹ - / )Ĺ‹ #)( & +ĹŠ"(2# .ĹŠ 13~23(!.ĹŠ"#+ĹŠ#2!4".ĹŠ !34 +ĹŠ /#13#-#!#ĹŠ +ĹŠ, #231.ĹŠ #"1.ĹŠ +.ĹŠ 1 Äą 5#12 1(Ä“ BW ^_ijeh_W Y‡l_YW Z[b ;YkWZeh i[‹WbW [b )' Z[ eYjkXh[" Z[ jeZei bei W‹ei" Yece :‡W Z[b ;iYkZe DWY_edWb$ ;b fe[jW o fWjh_ejW @eiƒ @eWgk‡d Z[ Ebc[Ze Z_Xk# `ÂŒ [b fh_c[h ;iYkZe Z[ 7hcWi DWY_edWb Z[ WYk[hZe Yed bWi eh_[djWY_ed[i Z[ bW 9edl[dY_ÂŒd" h[kd_ZW [d 9k[dYW" [ijWXb[Y_ZW bk[]e Z[b jh_kd\e Z[b , Z[ cWhpe Z[ '.*+ ieXh[ [b ][d[hWb @kWd @eiƒ <beh[i$ ;b YÂŒdZeh" [cXb[cW Z[ feZ[# h‡e" c_hW W bei bWZei$ ;b ieb Z[ ehe i[ kX_YW [d [b Y[djhe Z[ bW Y_djW" Yed bei i_]dei Z[b peZ‡WYe0 7h_[i" JWkhe" =ƒc_d_i o 9|dY[h" Yehh[i# fedZ_[dj[i W bei c[i[i Z[ cWh# pe" WXh_b" cWoe o `kd_e" j_[cfei gk[ iWblW]kWhZWd bWi ^WpW‹Wi Z[ b_X[hjWZ Z[ bei [YkWjeh_Wdei$ ;d bW fWhj[ _d\[h_eh" YehjWdZe [b ^eh_pedj[" [ij| [b 9^_cXehW# pe" kdW Z[ bWi c|i WbjWi cedjW# ‹Wi Z[ bei 7dZ[i$ :[ iki d_[l[i" dWY[ [b h‡e =kWoWi o [ij[ YWkZWb XW`W feh bWi j_[hhWi \ƒhj_b[i Z[ bW YeijW$ KdW [cXWhYWY_ÂŒd ikhYW bW fWhj[ WdY^W Z[b h‡e$ ;i kdW Wbki_ÂŒd Wb fh_c[h
Xkgk[ W lWfeh Yedijhk_Ze [d =kWoWgk_b" [d '.*'" o j_[d[ feh c|ij_b kd YWZkY[e" i‡cXebe Z[ bW dWl[]WY_ÂŒd o [b Yec[hY_e$ ;d [b W‹e Z[ '/&&" YkWdZe [b ][d[hWb ;beo 7b\Whe eYkfWXW bW fh[i_Z[dY_W" i[ WZefjÂŒ eĂ’ Y_Wb# c[dj[ [b ;iYkZe Z[ 7hcWi$ ;b 9ed]h[ie DWY_edWb Z[ Wgk[bbW ƒfeYW jhWdiYh_X[ bW Z_ifei_Y_ÂŒd Z[ '.*+" fk[i bW ‘d_YW ceZ_Ă’ # YWY_ÂŒd [hW kj_b_pWh bei jh_Yebeh[i YebecX_Wdei WcWh_bbe" Wpkb o he`e " Æ[d bk]Wh Z[ bWi XWdZ[hWi X_Yebeh[iÇ$ :_l[hiWi \k[dj[i" [djh[ [bbWi [b \ebb[je Z_Z|Yj_Ye ĂˆBei I‡cXebei Z[ bW FWjh_WÉ" i[‹WbWd gk[ [b Z_# i[‹e Whj‡ij_Ye Z[b [iYkZe WYjkWb f[hj[d[Y[ Wb cW[ijhe F[Zhe FW# Xbe JhWl[hiWh_$ ;b ;iYkZe DWY_edWb ]kWhZW i_]d_Ă’ YWj_lWi Ă’ ]khWi Z[ \kb]eh o Z[ h_gk[pWi cWj[h_Wb[i$ ?dl_jW W h[YehZWh bW ^_ijeh_W o W lWbehWh W bei ^ƒhe[i gk[ bkY^Whed feh iki _Z[Wb[i$ 7Z[c|i" WfehjW Wb Yede# Y_c_[dje Z[ bei h[Ykhiei dWjkhW# b[i" _cfkbiWdZe ik Yedi[hlWY_ÂŒd o Z[\[diW$
ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ä Ä
ÂĄ ēŊ +ĹŠÄŠÄˆĹŠ"#ĹŠ.!34 1#ĹŠ2#ĹŠ1#!4#1" ĹŠ#-ĹŠ ~ ĹŠ"#+ĹŠ 2!4".ĹŠ !(.- +Ä“
/#-Ĺ‹ & ,.)Ĺ‹ & "),, ()ąŋŋ- ,6Ĺ‹-/Ĺ‹ Ĺ‹ (Ĺ‹ Ä„ Bk_i 7bX[hje 9WbW^ehhWde Fh_[je Z[iZ[ ^eo i[ [dYk[d# jhW [d C_Wc_" ;ijWZei Kd_# Zei" h[Wb_pWdZe bei ‘bj_cei jh|c_j[i fWhW eXj[d[h kd F>: [d Fi_Yebe]‡W 9b‡d_YW" Ăˆ7dj^Wdjo ?dj[hdWY_edWb#
Kd_l[hi_joÉ Z[ ;ijWZei Kd_# Zei" Z[ifkƒi Z[ Zei W‹ei Z[ [ijkZ_ei$ 7dj[i Z[ l_W`Wh" 9WbW^e# hhWde Fh_[je" cWd_\[ijÂŒ gk[ bW ]hWZkWY_ÂŒd i[h| [b '& Z[ del_[cXh[ Z[ (&''$ Ik j[i_i
\k[ WfheXWZW Yed Xk[dWi YW# b_\_YWY_ed[i o ƒijW jhWjW ieXh[ ĂˆBW _d][d_[h‡W ^kcWdW [d iki Z_\[h[dj[i [jWfWi o ef# j_c_pWh YWZW kde Z[ [bbei o bW h[bWY_ÂŒd _dj[hf[hiedWb Z[ fWZh[i [ ^_`eiÉ$
)Ĺ‹-)(Ĺ‹-/ðŋ # (. -Ĺ‹&)-Ĺ‹./,()-Ĺ‹ ÆIed _dik\_Y_[dj[i bei Ykfei gk[ [djh[]Wd [d bei ikXY[d# jhei Z[ iWbkZ fWhW Wj[dZ[h W bei kikWh_eiÇ" h[YbWcWXW B[jjo LWb[dY_W" gk_[d WZkY‡W gk[ [d [b Ă›h[W Z[ IWbkZ De$ (" iÂŒbe [d# jh[]Wd (& jkhdei fWhW gk[ bei kikWh_ei WYY[ZWd Wb i[hl_Y_e Z[
#)( -ŋŋ - )& , -Ĺ‹ BW Z_h[YjehW fhel_dY_Wb Z[ ;Zk# YWY_ÂŒd" ?b_WdW 9^_h_Xe]W Cei# gk[hW Z_ifkie Z[iYWdie eXb_]W# jeh_e ZkhWdj[ [ijW i[cWdW W bei [ijkZ_Wdj[i Z[ bei [ijWXb[Y_c_[d# jei [ZkYWj_lei fh[fh_cWh_ei" fh_cWh_ei o i[YkdZWh_ei Ă’ iYWb[i Z[ bW fhel_dY_W Z[ ;ic[hWbZWi feh ^WX[h j[hc_dWZe [b f[h_eZe Z[ [n|c[d[i Yehh[ifedZ_[dj[ Wb i[]kdZe jh_c[ijh[$ BW i[cWdW Z[ lWYWY_ed[i Ye# _dY_Z[ Yed [b \[h_WZe gk[ [cf_[# pW [b c_ƒhYeb[i ( o Ykbc_dW [b ,
Z[ del_[cXh[ Z[ (&''$ BW i[cWdW Z[ lWYWY_ed[i Z_ifk[ijW feh bW :_h[YjehW Z[ ;ZkYWY_ÂŒd de _dYbko[ W bei [i# jWXb[Y_c_[djei Ă’ iYec_i_edWb[i o fWhj_YkbWh[i gk[ j_[d[d iki fhef_ei Yhede]hWcWi Z[ jhWXW`e" [bbei j[dZh|d bWXeh h[]kbWh ^eo o cW‹WdW$ Bei [ijWXb[Y_c_[djei [ZkYW# j_lei Ă’ iYWb[i bk[]e Z[ bW i[cWdW Z[ lWYWY_ed[i Z[X[h|d [cf[pWh [b j[hY[h jh_c[ijh[ gk[ Ă’ dWb_pW [b fhÂŒn_ce (& Z[ [d[he Z[ (&'($
bWXehWjeh_e$ LWb[dY_W" W]h[]ÂŒ gk[ [bbW bb[# ]ÂŒ W bWi &+0&& Wb ikXY[djhe" i[ kX_YÂŒ [d bW Ă’ bW fWhW gk[ b[ Z[d [b jkhde" f[he Wb bb[]Wh Wb d‘c[# he (&" iWb_ÂŒ [b ]kWhZ_W o ieb_Y_jÂŒ gk[ [b h[ije Z[ f[hiedWi i[ h[# j_h[d" fehgk[ oW de ^WX‡W c|i
j_gk[i$ ÆI_ Wi_ij_cei Wb ikXY[djhe [i fehgk[ d[Y[i_jWcei h[Wb_pWhdei bei [n|c[d[i o de j[d[cei Z_# d[he fWhW ^WY[hbe [d kd bWXehW# jeh_e fWhj_YkbWh" [i fh_eh_jWh_e gk[ i[ Wcfb‡[ bW YeX[hjkhWÇ" W]h[]ÂŒ LWb[dY_W$
ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
-()'(#H7
ĹŠ } <dgc\X[X gl\ikXj X[\ekif e\$ Z\j`kf# jl\c[f Y}j`Zf# j\^lif p Y\e\Ă” Z`fj [\ c\p# \[X[ d}o`dX )/ XÂŒfj% @e]fid\j '00.+),,, & '00.+),)* & ') **(/','
8I&/,(/'&ZZ
EDIFICIO NUEVO CONFORTABLE Acabados de primera de cuatro pisos, 3 oficinas amplias por piso. Ideal para instituciones
Dir. Calle Eloy Alfaro entre Piedrahita y Manuela CaĂąizĂĄres Telf. 093793964 / 093345647 084872705
SE VENDE FINCA
ÂľGK?;H;I5 72362
71990/CM
-((((#H7
?D<EHC; 7B J;B<$0
CASA DE 2 PLANTAS DE HORMIGÓN
2 PISOS CON TERRAZA 5 DORMITORIOS
SALA, COMEDOR COCINA 2 BAÑOS
(*+((*, # &//-)/+,/ &.,-,/'(,
SECTOR SANTAS VAINAS TELF.: 2455234 / 087021565
I; L;D:; <?D97
I; L;D:; <?D97
:[ ) >W$" 9ed Ykbj_le Z[ fb|jWde" [d bW fWhhegk_W Z[ CW`kW$ 9ed YWbb[ Wi\WbjWZW" i[hl_Y_ei Z[ W]kW fejWXb[ o bkp [bƒYjh_# YW" \h[dj[ Wb h‡e ;ic[hWbZWi$ ?d\ehcWY_Œd Wb0 (-(+-/, 9[b$0 &/-))(*-' .)+*(
EN LA PARROQUIA TABIAZO 80 HAS. CON 15 DE BOYA A 3 KM DE LA CARRETERA PRINCIPAL LLEGADA A FINCA CON CARRETERA VERANERA APROXIMADO DE CORTE ENTRE 2 AÑOS Y 2 AÑOS Y MEDIO
ćđĈČÄ?ćĉÄ?ĒŊľŊćđććÄ?ĈĈĈÄ?
-(*+)#H7
;IJ7 ;I$$$ÂśJK =H7D
8CHL@CF
EFEHJKD?:7:
ÂľJ[ _dj[h[iW ]WdWh Z_d[he [njhW5 Âľ=WdWh Z[ ,&& c[Z_e j_[cfe W '$&&& j_[cfe Yecfb[je Wb c[i5 H;GK?I?JEI0 cWoeh[i Z[ (& W‹ei WcXei i[nei$ L_dYkbWY_ÂŒd Z_h[YjW Yed bW [cfh[iW$ ?dj[h[iWZei bbWcWh0
( :;F7HJ7C;DJEI
' i[c_WceXbWZe o ejhe i_d WceXbWh fWhW \Wc_b_W YehjW$
:_h$0 =kWoWi ('- o 9ebÂŒd J[b\$0 *+).// 9[b$0 &.,&/&+'- -(*))
&.+,&-*+o fh[i[djWhi[ Yed 9$L$ .)*--
CL�NICA DE OBESIDAD 87@; :; F;IE 9ED I7BK: JH7J7C?;DJE '&& 8?EBâ=?9E 7BJ;HD7J?LE O L?=?B7:E FHE<;I?ED7BC;DJ;$
ENFERMEDADES CRÓNICAS Y TRANSTORNOS DE SUEÑO 71338/CM
FEHJ70 &//)-.*,) CEL?0 &.-,++./- % &,( *++#.*7L$ 9EBED -&( O =K7O7I Ă„ ;IC;H7B:7I
>EB7œœœ
71988/CM
I? KIJ;:;I J?;D;D IKI CK;8B;I" IE<7" 9EB9>ED;I" 7B<EC8H7I" I?BB7I :; 9EC;:EH IK9?EI DEIEJHEI B; IEBK9?ED7CEI ;B FHE8B;C7œœœ I; BEI :;@7CEI 9ECE DK;LEœœœ 72435
NO PAGUE MAS MENSUALIDADES
Kde [d bW :[b]WZ_bbe o ;beo 7b\Whe :ei [d bW O Z[ lk[bjW bWh]W I[Yjeh Bei CWd]ei \h[dj[ Wb <WhWÂŒd
VENDO O ARRIENDO
Inf.: 087323599 069347672
ĹŠĹŠ
KIT DE ANTENA SATELITAL 242 CANALES
I; L;D:; :EI J;HH;DEI
-()+&%a]
-3#- 2Ŋ 1 ¢+(! 2Ė
-()+,%a]
?dj[h[iWZei bbWcWh0 &..((+'(/ % &/+)('(,'
ElaboraciĂłn y AprobaciĂłn de Reglamentos Internos y Horarios de Trabajo. Celeridad y Responsabilidad en la entrega
ĹŠĂ‹ ĹŠ ĹŠ ÂĄ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ^
Telfs.: 2711-109 / 094026122
?dj[h[iWZei bbWcWh0 &..((+'(/ % &/+)('(,'
SEÑOR EMPRESARIO
ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ
J[b\$0 &.,'.,/**
F7H7 :?I9EJ;97 E A7H7EA; :?H$ GK?JE O IK9H;" ;N :?I9EJ;97 FEJHEI
ÂĄ ĹŠ ĹŠ
Ä‰ÄˆÄ‡ĹŠ ĹŠ ĹŠ ĹŠ ĸ ĹŠ Äš ĹŠ ĹŠ ĹŒĹŠÄˆÄŽÄ‡Ä“..ĹŠ ĹŠ ĹŠ ĹŠ
¥¥ATENCIÓN!!
DFM@JK8I%1 '00')/-+( :C8IF%1 '/0(/+-.'
33 Has. TOTAL 2,5 Has. FRUTALES AGUA POTABLE Y ENERG�A ELÉCTRICA ESTERO PERMANENTE CASA DE CAMPO CARRETERO ASFALTADO
9ed Zei Zehc_jeh_ei" iWbW" Yec[Zeh" YeY_dW" ]WhW`[" Zei XW‹ei Yecfb[jei$ KX_YWZe [d 7l$B_X[hjWZ o F_Y^_dY^W FWhWZW -
ĹŠ
ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ Äą ĹŠ ĹŠ ĹŠ } ĹŠ ĹŠ ĹŠ
9ecfhWh" l[dZ[h" Wbgk_bWh" bej_pWh$ J[ WokZWcei 9EHH;:EH;I :; 8?;D;I H7Ăž9;I
SECTOR PIEDRA FINA
7BGK?BE BE97B
-0*0/&:D
-()*/%a]
7BGK?BE :;F7HJ7C;DJE
71941/CM
Ä Ä‚
0%!),+ (! 01. ĂĀ)%*ċ
?dj[h[iWZei bbWcWh &..)*+#-*( % (-&&#*-)
71989/CM
MOTORES A DIESEL
: Ŋ Ŋ ĒćććŊ Ŋ
En venta, buen estado caterpillar marino. Modelo # 3208 - H.P.210 Caterpillar Electronico Modelo # 3126 - H.P. 250 TelĂŠfono: 089066977
(1ēĖŊ 4!1#ĹŠÄˆÄ‰Ä‡Ä‡ĹŠ8ĹŠ 4 -ĹŠ .-3 +5. #+Ä“Ä–ĹŠÄ‡Ä’ÄŠÄŒÄ‡Ä‡Ä’ÄˆÄ’
Ä?ĉČĊÄ?Äľ*%
AR/85107/cc
TELF.: 091320662 2753-110 SOLO INTERESADOS 72394/dr
I; L;D:; >;HCEIE J;HH;DE ;D J79>?D7 KX_YWZe W +&& c[jhei Z[b Y[djhe feXbWZe$ 7h[W 3 (") >W$ 9ed WYY[ie Z_h[Yje W l‡Wi Wi\WbjWZWi o [ij[he Z[ W]kW f[hcWd[dj[$ J_[d[ YWiW Z[ ]kWhZ_|d" [d[h]‡W [bƒYjh_YW" jWdgk[ [b[lWZe Z[ >$7$ fWhW h[i[hlW" Y_ij[hdWi XW`Wi" XeZ[]Wi" fepe fhe\kdZe o i_ij[cW Z[ h_[]e$ ;b j[hh[hde [ij| i[cXhWZe Yed \hkjWb[i o |hXeb[i Z[ cWZ[hW \_dW$ -(*+&%a]
Bei _dj[h[iWZei bbWcWh Wb &/+&&..,. Œ &/)'/&*+( 71988/CM
Ä?ĉČĎĈ
KdW YWc_ed[jW BWdZ 9hk_p[h *N* YkWbgk_[h fhk[XW ?D<EHC;I
;D BEI 87@EI :;B ;:?<?9?E :; B7 CKJK7B?IJ7" <H;DJ; 7B 87D9E :;B 7KIJHE" ;D 8EBĂžL7H O C7DK;B7 97y?P7H;I$
-(**,%a]
?DJ;H;I7:EI BB7C7H 7B J;Bx<EDE0 (*+(#.(+
ĹŠ ĹŠ
I; L;D:;
-((()#H7
J;B<I$0 (*+(-(+ &/').(,() 71880/CM
REPARAMOS E INSTALAMOS A DOMICILIO 7_h[ 7YedZ_Y_edWZei Z[ -'//-#H7
7HH?;D:E BE97B 9EC;H9?7B
L[^‡Ykbei o Zecƒij_Yei" bWlWZehWi o i[YWZehWi$ ;nY[b[dj[i fh[Y_ei$ 9Whbei 7dZhWZ[ JƒYd_Ye
J[bƒ\edei0 &/*+/--)(
#2,#1 +" 2Äž+ '.1 Ä“!.,Ä“#!
-())(%a]
'-)./+)&'/' Z[b 8WdYe Hkc_‹W^k_$ Gk_[d j[d]W Z[h[Y^e Z[X[h| h[YbWcWh Z[djhe Z[ bei '( Z‡Wi feij[h_eh[i W bW ‘bj_cW fkXb_YWY_Œd$ 79%'(-,) . c] 33333 GK;:7 7DKB7:7 Feh fƒhZ_ZW Z[ bW b_Xh[jW Z[ W^ehhei 9jW$De$#.',/,&),&& Dhe$ 9WhjebW '.(/-//&&&, Z[b 8WdYe Hkc_‹W^k_$ Gk_[d j[d]W Z[h[Y^e Z[X[h| h[YbWcWh Z[djhe Z[ bei '( Z‡Wi feij[h_eh[i W bW ‘bj_cW fkXb_YWY_Œd$ 79%'(-,) / c]
:CĂ E@:8 ;<C ;Ă 8 E\Z\j`kX :fekiXkXi1 $ C@:<E:@8;8 P&F 8LO@C@8I ;< <E=<ID<IĂ 8 $ 8LO@C@8I ;< C@DG@<Q8
ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ä Äƒ
." Ŋ+ Ŋ(-$.1, !(¢-Ŋ)4"(!( +Ŋ#-Ė 666ē"#1#!'.#!4 ".1ē!.,
<EM@8I ?FA8 ;< M@;8 8 CFJ J@>L@<EK<J :FII<FJ
^jXcmX[7_fkdX`c%Zfd & `m`jbX\i)'++7_fkdX`c%Zfd 72405/kg
NNNNNNNNNNNNN
9EEF;H7J?L7 :; 7>EHHE O 9H;:?JE Æ(/ :; E9JK8H;Ç BJ:7$
#ĹŠ -4+ ĹŠ /.1ĹŠ /_1"(" ĹŠ "#ĹŠ ( 1#3 ĹŠ "#ĹŠ '.11.2ĹŠ #+ĹŠ -ĂŒ,#1.ĹŠ "#ĹŠ ( 1#3 ĹŠ Ĺ–ĹŠ ÄŒÄŽÄ‡ÄˆÄ‰ÄˆÄ‰Ä’Ä’ÄŽĹŠ #13#-#!(#-3#ĹŠ ēĖŊ ĹŠ ÂĄ ĹŠ
:LIJF ;< @E>CyJ ?89C8;F
-&(*-#H7
72413
Cle\j X M`\ie\j [\ (/1'' X (0_'' :\ekif [\ @e^c„j ?XYcX[f ;`i%1 :fc�e \eki\ IfZX]l\ik\ p AlXe DfekXcmf% K\XZ_\i1 Di% 8^lXj @e`Z`X (+ [\ Efm`\dYi\ )'((%
7DKB79?âD
7DKB79?âD
#ĹŠ !.,4-(! ĹŠ +ĹŠ /ĂŒ +(!.ĔŊ + ĹŠ -4+ !(¢-ĹŠ /.1ĹŠ /_1"(" Äľ24 231 !!(¢-ĹŠ + ĹŠ !3 ēŊ 'ēŊ "#+ĹŠ ĹŠ 1ēĖ ĹŠ ĹŠ ēŊ ĹŠ .ēŊđÄ?ćĊĊÄ?Ä?
#ĹŠ !.,4-(! ĹŠ +ĹŠ /ĂŒ +(!.ĔŊ + ĹŠ -4+ !(¢-ĹŠ /.1ĹŠ/_1"(" Äľ24 231 !!(¢-ĹŠ+ ĹŠ!3 ēŊ 'ēŊ"#+ĹŠĹŠ 1ēĖ } ĹŠ ĹŠ ĹŠ ^ ēŊ ĹŠ .Ä“ĹŠÄ‘ÄŽÄŒÄŒÄŒÄˆÄ?
72386
72408
K<C=%1 '0+,*/'). 72238/RA
ĹŠ ĹŠ ĹŠ ÂĄ ĹŠ +4" ĹŠ ĹŠ3.".ĹŠ#+ĹŠ/ĂŒ +(!.ĹŠ#2,#1 +"# .ĹŠ#ĹŠ(-5(3 ĹŠ ĹŠ+.2ĹŠ$4341.2ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ Ä” ĹŠ04#ĹŠ2#ĹŠ" -ĹŠ(-(!(.ĹŠ#+ĹŠÄ?ĹŠ ĹŠ ĹŠ"#+ĹŠ/1#2#-3#ĹŠ  .Ä“
ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠ : ĹŠ ĹŠ ĹŠ
9EEF;H7J?L7 :; 7>EHHE O 9H;:?JE Æ(/ :; E9JK8H;Ç BJ:7$
7DKB79?ED
#ĹŠ -4+ ĹŠ/.1ĹŠ/_1"(" ĹŠ"#ĹŠ ( 1#3 ĹŠ"#ĹŠ '.11.2ĹŠ #+ĹŠ -ĂŒ,#1.ĹŠ "#ĹŠ ( 1#3 ĹŠ Ĺ–ĹŠ ÄŒÄŽÄ‡ÄˆÄŒÄ‡ÄŒÄ‘Ä‘Ä‰ĹŠ 8ĹŠ #13($(! ".ĹŠ "#ĹŠ /.13 !(¢-ĹŠ ēŊ ÄŒÄŽÄ‡ÄˆÄŒÄ‡ÄŒÄ‘Ä‘ÄŒÄ“ĹŠ #13#-#!(#-3#ĹŠ ēĖŊ Äą ĹŠ ĹŠ ĹŠ Ä“
#ĹŠ -4+ ĹŠ /.1ĹŠ /_1"(" ĹŠ "#ĹŠ ( 1#3 ĹŠ "#ĹŠ '.11.2ĹŠ !48.ĹŠ -ĂŒ,#1.ĹŠ "#ĹŠ !4#-3 ĹŠ #2ĹŠ ćĎĈćĉÄ?ÄŒÄ‡Ä’ÄŒÄ”ĹŠ /#13#-#!(#-3#ĹŠ Ä–ĹŠ ĹŠ ĹŠ ĹŠ Â&#x; ĹŠ : ĹŠ Ä“
9EEF;H7J?L7 :; 7>EHHE O 9H;:?JE Æ(/ :; E9JK8H;Ç BJ:7$
9EEF;H7J?L7 :; 7>EHHE O 9H;:?JE Æ(/ :; E9JK8H;Ç BJ:7$
#ĹŠ -4+ ĹŠ /.1ĹŠ /_1"(" ĹŠ "#ĹŠ ( 1#3 ĹŠ "#ĹŠ '.11.2ĹŠ #+ĹŠ -ĂŒ,#1.ĹŠ "#ĹŠ ( 1#3 ĹŠ Ĺ–ĹŠ ČĎćĈĉČđđĉÄ?ēŊ #13#-#!(#-3#ĹŠ ēĖŊ } ĹŠ ĹŠ Ä“
#ĹŠ -4+ ĹŠ /.1ĹŠ /_1"(" ĹŠ "#ĹŠ ( 1#3 ĹŠ "#ĹŠ '.11.2ĹŠ #+ĹŠ -ĂŒ,#1.ĹŠ "#ĹŠ ( 1#3 ĹŠ Ĺ–ĹŠ ČĎććÄ?Ä?Ä‡Ä‰Ä‘ÄŒĹŠ #13#-#!(#-3#ĹŠ ēĖŊ ĹŠ Â&#x; ĹŠ Ä“
72334
72339
ĹŠ ĹŠ Ä–ĹŠĹŒĹŠÄˆÄ?ĊēĉćŊŊ (1ēĖŊ +,#".ĹŠ#ĹŠ , 41 -$ēĖŊćÄ?Ä‰ĹŠÄŒÄŽÄ‡Ä‘Ä?Ä?ĹŠÄąĹŠÄ‡Ä‘ÄˆÄ‰Ä‡Ä?ÄŒÄ‘ÄŠĹŠÄąĹŠÄ‡Ä?ĒĊČĈĎĒĊ
Ä?Ä‰ÄŒÄ‰ÄŽÄľ
-(),*%a]
;CFB;E D;9;I?JE ( F;HIED7I GK; I;F7D B7L7H 97HHEI F7H7 JH787@7H :; ?DC;:?7JE
Fh[i[djWhi[ [d bW YWbb[ :[b]WZ_bbe *&- o ;beo 7b\Whe
D;9;I?JE F;HIED7B <;C;D?DE FWhW jhWXW`e [d JedikfW ÆBW BecWÇ :_iYe ?d\$0 &/.&'./'/
-(*&'%a]
SE BUSCA PERSONAS DINĂ MICAS Para el ĂĄrea de ventas Suelda base $ 600,00 Entrevistas Lunes, Martes y MiĂŠrcoles de 9:30 a 10:30 y de 15:00 a 16:00 Presentarse con ropa formal y documentos actualizados Dir.: Cll. Piedrahita entre MalecĂłn y BolĂvar, Altos de la FerreterĂa Viteri 72245/CM
72434
72376
7DKB79?ED
7DKB79?ED
#ĹŠ -4+ ĹŠ /.1ĹŠ /_1"(" ĹŠ "#ĹŠ ( 1#3 ĹŠ "#ĹŠ '.11.2ĹŠ !48.ĹŠ -ĂŒ,#1.ĹŠ "#ĹŠ !4#-3 ĹŠ #2ĹŠ Ä‡Ä‡Ä’Ä‡ÄˆÄŽÄˆÄ‘ÄŠÄŽÄ”ĹŠ /#13#-#!(#-3#ĹŠ Ä–ĹŠ ĹŠ Äą ĹŠ ĹŠ Ä“
#ĹŠ -4+ ĹŠ /.1ĹŠ /_1"(" ĹŠ "#ĹŠ ( 1#3 ĹŠ "#ĹŠ '.11.2ĹŠ !48.ĹŠ -ĂŒ,#1.ĹŠ "#ĹŠ !4#-3 ĹŠ #2ĹŠ ćđĊććđĒđČÄ?ĔŊ /#13#-#!(#-3#ĹŠ Ä–ĹŠ ĹŠ ĹŠ ĹŠ Ä“
9EEF;H7J?L7 :; 7>EHHE O 9H;:?JE Æ(/ :; E9JK8H;Ç BJ:7$
9EEF;H7J?L7 :; 7>EHHE O 9H;:?JE Æ(/ :; E9JK8H;Ç BJ:7$
#ĹŠ -4+ ĹŠ /.1ĹŠ /_1"(" ĹŠ "#ĹŠ ( 1#3 ĹŠ "#ĹŠ '.11.2ĹŠ #+ĹŠ -ĂŒ,#1.ĹŠ "#ĹŠ ( 1#3 ĹŠ Ĺ–ĹŠ ÄŒÄˆÄˆÄ‡ÄŠÄ‡Ä‘Ä’Ä‡ĹŠ #13#-#!(#-3#ĹŠ ēĖŊ : ĹŠ ĹŠ: ĹŠ } Ä“
#ĹŠ -4+ ĹŠ /.1ĹŠ /_1"(" ĹŠ "#ĹŠ ( 1#3 ĹŠ "#ĹŠ '.11.2ĹŠ #+ĹŠ -ĂŒ,#1.ĹŠ "#ĹŠ ( 1#3 ĹŠ Ĺ–ĹŠ ÄŒÄŽÄ‡Ä‡Ä’ÄˆÄŒÄ’ÄŠÄ‘ĹŠ #13#-#!(#-3#ĹŠ ēĖŊ ÂĄ Äą ĹŠ ĹŠ } ĹŠ
72390
71967/CM
72365
72360
GIF;L:KFI8 ;< I8;@F P KM%
87D9E HKC?y7>K? ;IC;H7B:7I
DE LA PROVINCIA DE ESMERALDAS
E<:<J@K8 :FEKI8K8I1
$ @E><E@<IF <E D8IB<K@E> P GL9C@:@;8; $ C@:<E:@8;8 <E GIFDF:@äE JF:@8C $ C@:<E:@8;8 <E :FDLE@:8:@äE JF:@8C
HL< GFJ<8E ?89@C@;8; <E 8K<E:@äE P KI8KF :FE <C :C@<EK<# =8:@C@;8; G8I8 :FDLE@:8IJ<# :I<8K@M@;8;# GIF 8:K@M@;8;# ;@E8D@JDF# 8:K@KL; ;< KI898AF <E <HL@GF# I<JGFEJ89@$ C@;8; P KFK8C ;@JGFE@9@C@;8; ;< KI898A8I <E ?FI8I@FJ ;< C8 GIF;L:KFI8% 3090
CFJ @EK<I<J8;FJ <EM@8I ?FA8 ;< M@;8 :FE =FKF 8:KL8C@Q8;8 P JL 8JG@I8:@äE J8C8I@8C 8C <$D8@C1 ;@GGIF;L::@FE<J7?FKD8@C%:FD
Ĺ´ Ĺ´ Ĺ´ Ĺ´ i Ĺ´ Ĺ´ Ĺ´ Ĺ´ ÄąĹŠĹŠÄˆÄ‡ĹŠ ĹŠ ^ ĔŊ ĹŠ ĹŠ ĹŠ ĸ ĹŠ Äš ÄąĹŠÄˆÄŽĹŠ ÂĄ ĹŠ ^ ĹŠ ĹŠ ĹŠ ĸ ĹŠ Äš -5( 1ĹŠ'.) ĹŠ"#ĹŠ5(" Ŋĸ ĚĔŊ!./( ĹŠ"#+ĹŠ3~34+.ĔŊ!./( ĹŠ"#ĹŠ+ ĹŠ!_"4+ ĹŠ Ä–ĹŠ (1ēŊ .+¢-ĹŠÄˆÄ?ÄąÄˆÄ?ĹŠ8ĹŠ (#"1 '(3 8ĹŠ +ĹŠ#Äą, (+Ä–ĹŠ-(/2 Äž8, (+Ä“!.,ĹŠÄ—ĹŠ-(/2 Äž -"(- -#3Ä“-#3 Ä?ĉČĊĒ
GK;:7 7DKB7:7 Feh fƒhZ_ZW Z[ bW b_Xh[jW Z[ W^ehhei 9jW$De$#.(&&/+.+&& Dhe$ 9WhjebW '.&)*/+&&*& Z[b 8WdYe Hkc_‹W^k_$ Gk_[d j[d]W Z[h[Y^e Z[X[h| h[YbWcWh Z[d# jhe Z[ bei '( Z‡Wi feij[h_eh[i W bW ‘bj_cW fkXb_YWY_Œd$ 79%'(-,) ' c] 33333 GK;:7 7DKB7:7 Feh fƒhZ_ZW Z[ bW b_Xh[jW Z[ W^ehhei 9jW$De$#.'(**/&-&& Dhe$ 9WhjebW '-)&&-*&&'& Z[b 8WdYe Hkc_‹W^k_$ Gk_[d j[d]W Z[h[Y^e Z[X[h| h[YbWcWh Z[d# jhe Z[ bei '( Z‡Wi feij[h_eh[i W bW ‘bj_cW fkXb_YWY_Œd$ 79%'(-,) ( c] 33333 GK;:7 7DKB7:7 Feh fƒhZ_ZW Z[ bW b_Xh[jW Z[ W^ehhei 9jW$De$#.(&.(&+.&& Dhe$ 9WhjebW '.&--.&&&&) Z[b 8WdYe Hkc_‹W^k_$ Gk_[d j[d]W Z[h[Y^e Z[X[h| h[YbWcWh Z[d# jhe Z[ bei '( Z‡Wi feij[h_eh[i W bW ‘bj_cW fkXb_YWY_Œd$ 79%'(-,) ) c] 33333 GK;:7 7DKB7:7 Feh fƒhZ_ZW Z[ bW b_Xh[jW Z[ W^ehhei 9jW$De$#.((&(+)'&& Dhe$ 9WhjebW '.'++**&&)- Z[b 8WdYe Hkc_‹W^k_$ Gk_[d j[d]W Z[h[Y^e Z[X[h| h[YbWcWh Z[djhe Z[ bei '( Z‡Wi feij[h_eh[i W bW ‘bj_cW fkX#
b_YWY_Œd$ 79%'(-,) * c] 33333 GK;:7 7DKB7:7 Feh fƒhZ_ZW Z[ bW b_Xh[jW Z[ W^ehhei 9jW$De$#.&&.')*)&& Dhe$ 9WhjebW ',.)&-,&)(* Z[b 8WdYe Hkc_‹W^k_$ Gk_[d j[d]W Z[h[Y^e Z[X[h| h[YbWcWh Z[d# jhe Z[ bei '( Z‡Wi feij[h_eh[i W bW ‘bj_cW fkXb_YWY_Œd$ 79%'(-,) + c] 33333 GK;:7 7DKB7:7 Feh fƒhZ_ZW Z[ bW b_Xh[jW Z[ W^ehhei 9jW$De$#.('())/+&& Dhe$ 9WhjebW '.''(&,&&&' Z[b 8WdYe Hkc_‹W^k_$ Gk_[d j[d]W Z[h[Y^e Z[X[h| h[YbWcWh Z[djhe Z[ bei '( Z‡Wi feij[h_eh[i W bW ‘bj_cW fkX# b_YWY_Œd$ 79%'(-,) , c] 33333 GK;:7 7DKB7:7 Feh fƒhZ_ZW Z[ bW b_Xh[jW Z[ W^ehhei 9jW$De$#.&/,,/),&& Dhe$ 9WhjebW '-(+)(+&()' Z[b 8WdYe Hkc_‹W^k_$ Gk_[d j[d]W Z[h[Y^e Z[X[h| h[YbWcWh Z[djhe Z[ bei '( Z‡Wi feij[h_eh[i W bW ‘bj_cW fkX# b_YWY_Œd$ 79%'(-,) - c] 33333 GK;:7 7DKB7:7 Feh fƒhZ_ZW Z[ bW b_Xh[jW Z[ W^ehhei 9jW$De$#.&.,-&/*&& Dhe$ 9WhjebW
@KP=7:E J;H9;HE :; BE 9?L?B O C;H97DJ?B :; ;IC;H7B:7I 79JEH$# HEI7B;I 978;P7I =;DDO EB=7 :;C7D:7:E$# BEEH L;H7 @EH=; 7DJED?E 9K7DJĂž70 ?D:;J;HC?D7:7 @K?9?E0 :?LEH9?E JH7C?J;0 L;H87B IKC7H?E &-++#(&'' @K;P0 :h$ Ă›d][b Ce_iƒi F[h[_hW E8@;JE :; B7 :;C7D:7$# HEI7B;I 978;P7I =;DDO EB=7" YecfWh[Y[ Wb @kp]WZe" Z[cWdZWZe bW Z_iebkY_ÂŒd Z[b l‡dYkbe cWjh_ced_Wb W ik YÂŒdok][ BEEH L;H7 @EH=; 7DJED?E$# <kdZWc[djW ik Z[cWdZW [d [b 7hj$ ''&" DKC;H7B '' :;B 9ÂŒZ_]e 9_l_b$# @KP=7:E J;H9;HE :; BE 9?L?B O C;H97DJ?B :; ;IC;H7B:7I0 ;ic[hWbZWi" CWhj[i )& Z[ W]eije Z[b (&''" bWi '&^&.$# L?IJEI0 7leYe YedeY_c_[dje Z[ bW fh[i[dj[ YWkiW [d hWpÂŒd Z[b iehj[e$# ;d be fh_dY_fWb" bW Z[cWdZW gk[ Wdj[Y[Z[ [i YbWhW" fh[Y_iW o h[‘d[ bei h[gk_i_jei Z[ b[o" feh be gk[ i[ bW WY[fjW Wb jh|c_j[ Z[b `k_Y_e l[hXWb ikcWh_e$# 9‡j[i[ Wb Z[cWdZWZe BEEH L;H7 @EH=; 7DJED?E" feh bW fh[diW" feh Z[iYedeY[hi[ ik Zec_Y_b_e gk[ i[ be fhej[ijW XW`e `khWc[dje Z[ Yed\ehc_ZWZ Yed [b 7hj$ .( Z[b 9ÂŒZ_]e Z[ FheY[Z_c_[dje 9_l_b" c[Z_Wdj[ jh[i fkXb_YWY_ed[i [d kde Z[ bei Z_W# h_ei Z[ cWoeh Y_hYkbWY_ÂŒd Z[ bW Y_kZWZ$#Jƒd]Wi[ [d Yk[djW [b YWi_bb[he `kZ_Y_Wb i[‹WbWZe o Wkjeh# _pWY_ÂŒd Yed\[h_ZW W ik Z[\[dieh$ Dej_\‡gk[i[$ <Ze$ :h$ 7$ F[h[_hW$# @k[p$# ;ic[hWbZWi" &/ Z[ i[fj_[cXh[ Z[b (&'' :H7$ =H79?;B7 CEH7 :; C;D:;P I;9H;J7H?7 -'-/,%hW NNNNNNNNNNNNN @KP=7:E L?=;I?CE E9J7LE :; BE 9?L?B :; =K7O7GK?B ;NJH79JE :; 9bJ79?âD 70 F[Zhe C[]_Wi Hec[he B; >7=E I78;H0 Gk[ [d [b @kp]WZe L_]ƒi_ce EYjWle Z[ be 9_l_b Z[ =kWoWgk_b" i[ [dYk[djhW bW Z[cWdZW Z[ :_lehY_e De$+'(#9# (&'& i[]k_Ze feh ;ij^[h C[hY[Z[i L[b_p L[_hW" YedjhW F[Zhe C[]_Wi Hec[he Ykoe [njhWYje [i [b i_]k_[dj[ :;C7D:7DJ;0 ;ij^[h C[hY[Z[i L[b_p L[_hW :;C7D:7:E0 F[Zhe C[]_Wi Hec[he E8@;JE :; B7 :;C7D:70 Gk[ c[Z_Wdj[ i[dj[dY_W i[ Z[YbWhW Z_ik[bje [b l_dYkbe cWjh_ced_Wb gk[ bW kd[ Yed [b Z[cWdZWZe WcfWhWZW [d be Z_ifk[ije [d bW YWkiWb '' Z[b Whj‡Ykbe ''& Z[b 9ÂŒZ_]e 9_l_b 7KJE ?D?9?7B0 =kWoWgk_b" bkd[i )' Z[ cWoe Z[b (&'&" bWi ',^*)$ L?IJEI0 BW Z[cWdZW gk[ Wdj[Y[Z[ fhefk[ijW feh ;IJ>;H C;H9;:;I L;BbP L;?H7" YedjhW F;:HE C;=?7I HEC;HE" feh h[kd_h bei h[gk_i_jei Z[j[hc_# dWZei [d bei Whj_Ykbei ,- o '&') Z[b 9ÂŒZ_]e Z[ FheY[Z_c_[dje 9_l_b" i[ bW YWb_\_YW Z[ YbWhW o fh[YbiW" feh be gk[ i[ bW WZc_h[ Wb jh|c_j[ b[]Wb Yehh[ifedZ_[dj[$# ;d Yedi[Yk[dY_W feh YkWdje" bW WYY_edWdj[ XW`e `khWc[cje Z[YbWhW gk[ b[ [i _cfei_Xb[ Z[j[hc_dWh bW _dZ_l_ZkWb_ZWZ e h[i_Z[dY_W Z[b Z[cWdZWZe" i[ Z_ifed[ i[ be Y_j[ feh c[Z_e Z[ kde Z[ bei Z_Wh_ei Z[ Wcfb_W Y_hYk# bWY_ÂŒd Z[ [ijW beYWb?ZWZ" Yed\ehc[ be fh[iYh_X[ [b 7hj$ .( ?X_Z[c" [d YedYehZWdY_W Yed [b 7hj ''/ Z[b 9ÂŒZ_]e 9_l_b" YkoWi fkXb_YWY_ed[i i[ h[Wb_pWh|d [d Z_Wh_W ;b ;nfh[ie$# 9K7DJĂž70 ?dZ[j[hc_dWZW @K;P :; B7 97KI7 7Xe]WZe @eh][ BkpWhhW]W >dhjWZe" @k[p L_]ƒi_ce EYjWle Z[ be 9_L_b Z[ =kWoWgk_$ Be gk[ Yeckd_Ye W kij[Z fWhW bei \_d[i Z[ b[o" fh[l_d_ƒdZeb[ Z[ bW eXb_]# WY_ÂŒd gk[ j_[d[ Z[ i[‹WbWh Zec_Y_b_e `kZ_Y_Wb fWhW \kjkhWi dej_\_YWY_ed[i$ feij[h_eh[i W bW j[h# Y[hW o ‘bj_cW fkXb_YWY_ÂŒd Z[ [ij[ Wl_ie" 9Wie YedjhWde i[hW j[d_Ze e Yedi_Z[hWZe h[X[bZ[$ =kWoWgk_b" `kb_e . Z[b (&'& 78$ C7HĂž7 H7C?H;P :; L7BB;@E -'/,)%9C NNNNNNNNNNNNN H$:;B$; @KP=7:E I;FJ?CE :; BE 9?L?B ;IC;H7B:7I GK?D?D:; 9?J79?ED#;NJH79JE @K?9?E0 :?LEH9?E 9EDJHEL;HJ?:E 79JEH0 ?I?:EHE 7I7;B I7D9>;P L?J;H? :;C7D:70 7B;N7D:H7 D7J?L?:7: 8ED; 7L?B7 9K7DJ?70 ?D:;J;HC?D7:7 @K;P :; B7 97KI70 :H$ 7D?87B ;IJKF?y7D ;9>;L;HH?7 E8@;JE :; B7 :;C7D:7$ ;b Z[cWdZWdj[0 ?I?:EHE 7I7;B I7D9>;P L?J;H?" YecfW# h[Y[ W [ijW `kZ_YWjkhW o Z[cWdZW [d `k_Y_e Z[ :_lehY_e W ik 9ÂŒdok][ o Z[cWdZWZW 7b[nWdZhW DWj_l_ZWZ 8ed[ Ă›l_bW" [d [b YkWb cWd_\_[ijW gk[ ik YÂŒdok][ 7b[nWdZhW DWj_l_ZWZ 8ed[ Ă›l_bW fh[j[njWdZe cej_lei Z[ feYW e d_d]kdW _cfeh# jWdY_W" WXWdZede [d \ehcW lebkdjWh_W [ _d`kij_\_# YWZW [b ^e]Wh gk[ j[d‡Wd \ehcWZe [d [ij[ YWdjÂŒd Gk_d_dZƒ" Fhel_dY_W Z[ ;ic[hWbZWi" Wbb| feh [b c[i Z[ [d[he Z[ '///" WXWdZede gk[ ^W i_Ze _d_dj[hhkcf_Ze" fheZkY_ƒdZei[ kdW i[fWhWY_ÂŒd jejWb" Yecfb[jW" feh c|i Z[ edY[ W‹ei \kdZW# c[djW ik Z[cWdZW [d [b Whj_Ykbe ''& dkc[hWb '' _dY_ie (Ze Z[b 9ÂŒZ_]e 9_l_b" 9ed \[Y^W (' Z[ `kb_e Z[b (&''" W bWi '&^+,Wc" [b i[‹eh @K;P I;NJE :; BE 9?L?B :; ;IC;H7B:7I" 9ED I;:; ;D GK?D?D:;" ZeYjeh 7d‡XWb ;ijkf_‹|d ;Y^[l[hh‡W" YWb_\_YW o WY[fjW W jh|c_j[ [ijW Z[cWdZW [d @k_Y_e Z[ :_lehY_e 9edjhel[hj_Ze" [d Yedi[Yk[dY_W Z_ifed_[dZe bW Y_jWY_ÂŒd W bW Z[cWdZWZW 7b[nWdZhW DWj_l_ZWZ 8ed[ Ă›l_bW" feh bW fh[diW" Z[ Yed\ehc_ZWZ Wb Whj‡Ykbe .( Z[b 9ÂŒZ_]e Z[ FheY[Z_c_[dje 9_l_b" feh ^WX[h YecfWh[Y_Ze [b Z[cWdZWdj[ W Z[YbWhWh XW`e `khWc[dje gk[ b[ ^W i_Ze _cfei_Xb[ Z[j[hc_dWh bW _dZ_l_ZkWb_ZWZ o h[i_Z[dY_W Z[ bW Z[cWd# ZWZW$ <:E$ FEH ;B :H$ 7D?87B ;IJKF?y7D ;9>;L;HH?7" ;D 97B?:7: :; @K;P$ BE 9;HJ?<?9E$ Be gk[ fed]e [d ik YedeY_c_[dje fWhW gk[ i_hlW YecfWh[Y[h W `k_Y_e Z[djhe Z[ bei l[_dj[ Z‡Wi YedjWZei Z[iZ[ bW ‘bj_cW fkXb_YWY_ÂŒd" YWie YedjhWh_e i[h| Z[YbWhWZW [d h[X[bZ‡W$ Gk_d_dZƒ" , Z[ i[fj_[cXh[ Z[b (&'' :h$ >k]e >_ZheXe 8$ I;9H;J7H?E <79JKH7 )&,) NNNNNNN H$ Z[b ;$ @KP=7:E GK?DJE :; BE 9?L?B :; CK?ID; O 7J797C;I ;NJH79JE :; 9?J79?ED 70 EB=7 ?H;D; 97HH?ED F7H;:;I o fh[# ikdjei fhef_[jWh_ei0 I[ b[i ^WY[ iWX[h gk[ [d [ij[ `kp]WZe i[ ^W fh[i[d# jWZe [d iki YedjhW Z[cWdZW Z[ FH;I9H?F9?âD ;NJH7EH:?D7H?7 7:GK?I?J?L7 :; :EC?D?E" ieXh[ kd bej[ Z[ j[hh[de Z[ '$.&&$ ee c(" kX_YWZe [d >k[hjei <Wc_b_Wh[i" JedikhW" 9WdjÂŒd 7jWYWc[i" Fhel_dY_W Z[ ;ic[hWbZWi$# @K9?E De -+-%(&'&#EH:?D7H?E 79JEH0 7C?H7 :;B=7:E :;B=7:E @K;P0 :H$ =7BE ?H?=EO;D E@;:7 9K7DJ?70 ?D:;J;HC?D7:7 @KP=7:E GK?DJE :; BE 9?L?B O C;H97DJ?B :; CK?ID; O 7J797C;I$# 7jWYWc[i" W (( Z[ `kd_e Z[b (&''" W bWi ''^&+$# L?IJEI0 7leYe YedeY_c_[dje Z[ bW fh[i[dj[ YWkiW [d c_ YWb_ZWZ Z[ @k[p Ikfb[dj[" [dYWh]WZe Z[b @kp]WZe
Gk_dje Z[ be 9_l_b Z[ Ck_id[ o 7jWYWc[i" [dYWh# ]WZe c[Z_Wdj[ e\_Y_e De +'(%(&&-#9D@#::; Z[ \[Y^W ') Z[ `kb_e Z[b (&&-$#BW Z[cWdZW Z[ fh[# iYh_fY_ÂŒd [njhWehZ_dWh_W WZgk_i_j_lW Z[ Zec_d_e Z[ZkY_ZW feh bW i[‹ehW 7C?H7 :;B=7:E :;B=7:E" [d YedjhW Z[ bW i[‹ehW EB=7 ?H;D; 97HH?âD F7H;:;I o fh[ikdjei fhef_[jWh_ei" bW c_icW gk[ feh h[kd_h bei h[g# k_i_jei Z[j[hc_dWZei [d bW B[o" i[ bW YWb_\_YW Z[ YbWhW" fh[Y_iW o Yecfb[jW" feh be gk[ i[ bW WZc_j[ Wb jh|c_j[ Z[ @k_Y_e EhZ_dWh_e$# :[ Yed\ehc_ZWZ W be Z_ifk[ije W bei 7hji$ )/, o )/- Z[b 9ÂŒZ_]e Z[b FheY[Z_c_[dje 9_l_b" i[ Yehh[ jhWibWZe Yed bW c_icW Wb Z[cWdZWZe o Fh[ikdjei fhef_[jWh_ei" fWhW gk[ [d [b jƒhc_de Z[ gk_dY[ Z‡Wi fhefed# ]Wd iki [nY[fY_ed[i Z_bWjeh_Wi o f[h[djeh_Wi gk[ i[ Yh[Wd Wi_ij_Zei$ 9‡j[i[ W bei Z[cWdZW# Zei o fh[ikdjei fhef_[jWh_ei feh bW fh[diW" [d kd :_Wh_e Z[ cWoeh Y_hYkbWY_ÂŒd Z[ bW fhel_dY_W Z[ ;ic[hWbZWi Z[ Yed\ehc_ZWZ Yed [b 7hj$ .( Z[b 9ÂŒZ_]e Z[ FheY[Z_c_[dje 9_l_b$# ?diYh‡XWi[ bW Z[cWdZW [d [b H[]_ijhe Z[ bW Fhef_[ZWZ Z[ 7jWYWc[i$# Jƒd]Wi[ [d Yk[djW bW Wkjeh_pWY_ÂŒd gk[ YedY[Z[ W ik Z[\[diehW o [b YWi_bb[he `kZ_# Y_Wb De -' gk[ i[‹WbW fWhW iki dej_\_YWY_ed[i$# 7]hƒ]k[i[ W bei Wkjei bW ZeYkc[djWY_ÂŒd WZ`kdjW W bW Z[cWdZW$# 9‡j[i[ o Dej_\‡gk[i[$ < :h$ =Wbe ?h_]eo[d E`[ZW" @k[p$# Be gk[ i[ b[ Yeckd_YW fWhW bei \_d[i Z[ B[o$# :[X_[dZe YecfWh[Y[h W @k_Y_e i[‹WbWdZe YWi_bb[he @kZ_Y_Wb [d bW Y_kZWZ Z[ 7jWYWc[i" Z[djhe Z[b jƒhc_de Z[ (& Z‡Wi gk[ Yehh[d W fWhj_h Z[ bW j[hY[hW o ‘bj_cW fkXb_YWY_ÂŒd feh bW fh[diW$# ;i \_[b Yef_W Z[ ik eh_]_dWb$ BE 9;HJ?<?9E0 7jWYWc[i" W . Z[ W]eije Z[b (&''$# 7X]$ CWh[dW H[odW L$ I;9H;J7H?7 >Wo i[bbe o \_hcW <79J$ -((+) NNNNNNN @KP=7:E IxFJ?CE :; BE 9?L?B O C;H97DJ?B 9?J79?âD#;NJH79JE GK?D?D:x#;IC;H7B:7I @K?9?E0 ?DL;DJ7H?E 79JEH70 :H7$ C;H9;:;I 7H7K@E" ;D IK 97B?:7: :; FHE9KH7:EH7 @K:?9?7B :; BEI I;yEH;I @EI;<7 7 7=H?F?D7 P7C# 8H7DE P7C8H7DE" @EI;<7 7B;N7D:H7 7BEDPE P7C8H7DE" 97HBEI ;C?B?E 7BE# DPE P7C8H7DE" 9?HE 7=KIJ?D 7BEDPE P7C8H7DE" O J;H;I7 9;9?B?7 7BEDPE P7C8H7DE :;C7D:7:E0 HEI7 7BEDPE 7=K?B7H O 7 BEI >;H;:;HEI FH;IKDJEI O :;I9EDE# 9?:EI :;B 97KI7DJ; H7CED 7DJED?E 7BEDPE P7C8H7DE$ 9K7DJ?70 ?D:;J;HC?D:7 @K;P :; B7 97KI70 :H$ B?:?E HEI7B;I I?BL7 E8@;JE :; B7:;C7D:70 9ecfWh[Y[ W ƒij[ @kp]WZe bW i[‹ehW :H7$ C;H9;:;I 7H7K@E" ;D IK 97B?:7: :; FHE9KH7:EH7 @K:?# 9?7B :; BEI I;yEH;I @EI;<7 7=H?F?D7 P7C8H7DE P7C8H7DE" @EI;<7 7B;N7D# :H7 7BEDPE P7C8H7DE" 97HBEI ;C?B?E 7BEDPE P7C8H7DE" 9?HE 7=KIJ?D 7BE# DPE P7C8H7DE" O J;H;I7 9;9?B?7 7BED# PE P7C8H7DE o fh[i[djW kdW Z[cWdZW Z[ ?D# L;DJ7H?EI$ 8WiW ik Z[cWdZW [d be Z_ifk[ije [d [b ‘bj_ce _dY_ie Z[b 7hj$ '&(/ Z[b 9ÂŒZ_]e 9_l_b" o [b 7hj$ ,(/ Z[b 9ÂŒZ_]e Z[ FheY[Z_c_[dje 9_l_b$ 9ed \[Y^W (' Z[ i[fj_[cXh[ Z[b (&''" bWi '&^*&" [b i[‹eh @k[p Iƒfj_ce Z[ be 9_l_b o C[hYWdj_b Z[ ;ic[hWbZWi Yed i[Z[ [d Gk_d_dZƒ J " :h$ B_Z_e HeiWb[i I_blW" YWb_Ă’ YW o WY[fjW W jh|c_j[ ;if[Y_Wb bW fh[i[dj[ Z[cWdZW$ 9ed \[Y^W (' Z[ i[fj_[cXh[ Z[b (&''" W bWi '&^*&" Z_ifed[ i[ Y_j[ W bei Z[cWd# ZWZei i[‹eh[i HEI7 7BEDPE 7=K?B7H O 7 BEI >;H;:;HEI FH;IKDJEI O :;I9EDE# 9?:EI :;B 97KI7DJ; H7CED 7DJED?E 7BEDPE P7C8H7DE" feh bW fh[diW Z[ Yed\eh# c_ZWZ Yed be Z_ifk[ije [d [b 7hj$ .( Z[b 9ÂŒZ_]e Z[ FheY[Z_c_[dje 9_l_b" feh ^WX[h YecfWh[Y_Ze bW FheYkhWZehW @kZ_Y_Wb Z[ bei 7Yjeh[i Yed \[Y^W &+ Z[ eYjkXh[ Z[b (&''" W bWi ',^'&" W Z[YbWhWh XW`e `khWc[dje gk[ b[ [i _cfei_Xb[ Z[j[hc_dWh bW _dZ_# l_ZkWb_ZWZ e h[i_Z[dY_W Z[ bei Z[cWdZWZei <:E$ :H$ B?:?E HEI7B;I I?BL7" @K;P I;FJ?CE :; BE 9?L?B :; ;IC;H7B:7I# GK?D?D:; J 9;HJ?<?9E$ Be gk[ fed]e [d YedeY_c_[dje Z[ bei :[cWdZW# Zei fWhW gk[ i[ i_hlWd YecfWh[Y[h W `k_Y_e" Z[djhe Z[ bei l[_dj[ Z‡Wi Z[ bW j[hY[hW o ‘bj_cW fkXb_YW# Y_ÂŒd YWie YedjhWh_e i[h| Yedi_Z[hWZei h[X[bZ[i$ Gk_d_dZƒ" eYjkXh[ (, Z[b (&'' 7X]$ @[i‘i Ehj_p FedY[ Z[ 9hkp I;9H;J7H?7 @KP=7:E I;FJ?CE :; BE 9?L?B O C;H# 97DJ?B 9?J79?âD#;NJH79JE GK?D?D:;#;IC;H7B:7I I; B; >79; I78;H 7B FK8B?9E =;D;H7B$# Gk[ [b i[‹eh @K;P I;FJ?CE :; BE 9?L?B O C;H97DJ?B :; ;IC;H7B:7I I;:; ;D GK?D?D:;" :h$ B_Z_e HeiWb[i I_blW" [d [b 7KJE :; 97B?<?979?ED Z[ \[Y^W (' Z[ i[fj_[cXh[ Z[b (&''" bWi '&^*&" ^W Z[YbWhWZe 78?;HJ7 B7 IK9;I?âD ?DJ;IJ7:7 :; BEI 8?;D;I :;# @7:EI :;B GK?;D ;D L?:7 <K; ;B I;yEH H7CED 7DJED?E 7BEDPE P7C8H7DE$ Be gk[ fed]e [d ik YedeY_c_[dje fWhW bei Ă’ d[i Yedi_]k_[dj[i0 Gk_d_dZƒ" EYjkXh[ (, Z[b (&'' 7X]$ @[i‘i Ehj_p FedY[ Z[ 9hkp I;9H;J7H?7 -(*'+%a] NNNNNNN @KP=7:E FH?C;HE :; BE 9?L?B O C;H# 97DJ?B :; ;IC;H7B:7I 9?J79?âD @K:?9?7B D7$ '&'+#(&'' @K?9?E0 H;9J?<?979?ED :; F7HJ?:7 IK# C7H?E 79JEH70 9>7H9EF7 9K;HE BK:?I IKI7# D7 :;C7D:7:E0 H;=?IJHE 9?L?B :; ;IC;# H7B:7I @K;P :; B7 97KI70 78=$ BEH;D7 JEHH;I =H79?7 @KP=7:E FH?C;HE :; BE 9?L?B O C;H# 97DJ?B :; ;IC;H7B:7I$# ;ic[hWbZWi" bkd[i (* Z[ eYjkXh[ Z[b (&''" bWi '+^'*$# 7leYe YedeY_c_[dje Z[ bW fh[i[dj[ YWkiW [d l_hjkZ Z[b iehj[e gk[ Wdj[Y[Z[ [d c_ YedZ_Y_ÂŒd Z[ @k[pW J[cfehWb Fh_c[he Z[ be 9_l_b Z[ ;ic[hWbZWi" Z[ Yed\ehc_ZWZ Yed [b c[cehWdZe D .+)#:F@#9@ Z[ bW \[Y^W . Z[ `kb_e Z[b (&''$# ;d be fh_dY_fWb" bW Z[# cWdZW fh[i[djWZW feh bW i[‹ehW BK:?I IKI7D7 9>7H9EF7 9K;HE" [i YbWhW fh[Y_iW o Yecfb[jW feh h[kd_h be Z[c|i h[gk_i_jei Z[ b[o" i[ bW WZc_j[ W jhWc_j[ Z[ @k_Y_e IkcWh_e$ 9edi[Yk[dj[c[dj[ Z[ Yed\ehc_ZWZ Yed be Z_ifk[ije [d [b Whj_Ykbe ./ Z[ bW b[o Z[ H[]_ijhe 9_l_b" fkXb‡gk[i[ bW Z[cWdZW [d kde Z[ bei f[h_ÂŒZ_Yei Z[ cWoeh Y_hYkbWY_ÂŒd Z[ [ijW Y_kZWZ$ 9kƒdj[i[ Yed bWi ef_d_ed[i Z[b i[‹eh @[\[ Fhel_d# Y_Wb Z[ H[]_ijhe 9_l_b ?Z[dj_Ă’ YWY_ÂŒd o 9[ZkbWY_ÂŒd Z[ [ij[ 9WdjÂŒd o Z[ kde Z[ bei i[‹eh[i 7][dj[i <_iYWb[i Z[ [ij[ bk]Wh" fWhW [\[Yje dej_\‡gk[i[ W Z_Y^ei \kdY_edWh_ei [d iki Z[ifWY^ei$ Jƒd]Wi[ [d Yk[djW [b YWi_bb[he `kZ_Y_Wb gk[ i[‹WbW bW WYjehW fWhW iki dej_Ă’ YWY_ed[i o bW Wkjeh_pWY_ÂŒd gk[ Yed# Y[Z[ W ik Z[\[diehW$ 7]hƒ]k[i[ bW ZeYkc[djWY_ÂŒd WfWh[`WZW W bW Z[# cWdZW$# 9?J;I; O DEJ?<ĂžGK;I; I[ WZl_[hj[ Wb Z[cWdZWZe Z[ ik eXb_]WY_ÂŒd Z[ i[‹WbWh YWi_bb[he @kZ_Y_Wb fWhW feij[h_eh[i dej_Ă’ # YWY_ed[i0 9Wie YedjhWh_e" feZh| i[h Z[YbWhWZe e Yedi_Z[hWZe [d h[X[bZ‡W ;ic[hWbZWi" (. Z[ EYjkXh[ Z[b (&'' 7X]$ @eiƒ BkdW 9^_h_Xe]W I;9H;J7H?E >Wo i[bbe o Ă’ hcW <WYj$0 -(*)-
Ä Ä…
ÄƒÄ Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
(#0 ,-# Ĺ‹ #( /!/, Ĺ‹ # &) BW Kd_l[hi_ZWZ JƒYd_YW ĂˆBk_i LWh]Wi Jehh[iÉ Z[ ;ic[hWbZWi [d jeZWi iki \WYkbjWZ[i _d_Y_W kd dk[le Y_Ybe Z[ bWXeh[i ^eo )' Z[ eYjkXh[ Z[ (&''$
;b l_Y[hh[Yjeh WYWZƒc_Ye" 9ƒiWh IWWl[ZhW 8kijei Z_`e gk[ W bW fWh Z[ bW _dWk]khWY_ÂŒd i[ Yedj_d‘W Yed [b fheY[ie Z[ cW# jh_YkbWY_ÂŒd Z[ bei [ijkZ_Wdj[i Z[ jeZWi bWi [iYk[bWi o \WYkbjW# Z[i" _dYbkie" i[ [ij|d Whh[]bWd# Ze bei fheXb[cWi Z[ Wbkcdei gk[ de [ij|d b[]Wb_pWZei$ Æ;b fheY[Z_c_[dje i[ be [ij| ^WY_[dZe fh[l_W bW fh[# i[djWY_ÂŒd Wb l_Y[hh[YjehWZe WYWZƒc_Ye" bk[]e fWiW Wb :[# fWhjWc[dje Z[ ?d\ehc|j_YW fWhW _d]h[iWh Yehh[YjWc[dj[ bei ZWjei" Z[iZ[ [i[ cec[dje [b Wbkcde fk[Z[ i[h cWjh_Yk# bWZeÇ c[dY_edÂŒ$
ēŊ .-Ŋ#-342( 2,.Ŋ/ 13(!(/ 1.-Ŋ+.2Ŋ".!#-3#2Ŋ4-(5#12(3 1(.2Ŋ#-Ŋ#+Ŋ2#,(- 1(.Ŋ3 ++#1ēŊŊŊ
)Ĺ‹- Ĺ‹ '*&# ,6Ĺ‹"), ,#) Bei ^ehWh_ei Z[ Wj[dY_ÂŒd Z[ bei XWh[i" Z_iYej[YWi o aWhWea[i i[h| ^WijW bWi &(0&&" gk_[d[i de YkcfbWd Yed bW Z_ifei_Y_ÂŒd
i[h|d iWdY_edWZei Z[ WYk[hZe W bW B[o i[]‘d _d\ehcWY_Œd Z[ bW ?dj[dZ[dY_W =[d[hWb Z[ Feb_Y‡W Z[ ;ic[hWbZWi$
*ƥWJUBDJÓO å /ƴWFOB
'Č’F Ɖä WPĹźVOČ€ĂĄÄˆ ĔĜ %ŖƲT Č Č› NjåǚUJEB Ç™VFEĂŚ Č’OB ǡPOSJTB QPÇš Č Č› Ä’VMDF ǛĜDVFSEĆż Ć‘VDĹ„BT Ć‹ĂƒHSJNBT Ä’F Ä’ĘżPÇš QPÇ› Č Č› ĂĄVTFODJB Ë SÇ€ Č Č› Ĺ—NBHFĆŤ ĆĄÇ€ ǡF øƴǚÇ?ĂĄÇšĂƒ ĔĜ ĆĄVFTUSBT Ć‘FO Č FT ɉ ĆĄVFTUSÇ€ ĂşPOTVFMĆż Ä?T Ç™VF Ä?TUĂƒT KVOUĆş ĂĄĆŒ 4ÄœĂ’PÇš
JL G8;I<1 Ă?e^\c C`qXi[f >l\ii\if MXc\eZ`X JL D8;I<1 =cfi E`\m\ Fcd\[f JLJ ?<ID8EFJ1 D`^l\c Ă?e^\c# GXki`Z`f C`qXi[f p D„c`[X P`iXY\c >l\ii\if Fcd\[f# CXliX >l\ii\if >feq}c\q p IfY\ikf >l\ii\if CX^fj% Jl XYl\cX# _\idXeXj p _\idXefj gfcˆk`Zfj# jfYi`efj# kˆfj# gi`dfj p [\d}j ]Xd`c`Xi\j [\ hl`\e \e m`[X ]l\1
+PWFƍ "SNBOEƿ 0ǞMBOEƿ (VFSSFSǀ 0ƉNFEƿ
. ,6.# )/(#0 ,-#. ,#)-ŋŋ ./  (ŋ )() #'# (.) Ŋ/1#"(2/.2(!(¢-Ŋ"#Ŋ+.2Ŋ"(1#!3(5.2Ŋ8Ŋ ! 3#"1;3(!.2Ŋ"#+Ŋ! ,/42Ŋ4-(5#12(3 1(.Ŋ "#Ŋ Ŋ .-!.1"( ĔŊ$ !(+(3¢Ŋ#5 !4 1Ŋ+ 2Ŋ 3#,;3(! 2Ŋ"#+Ŋ2#,(- 1(.ē
Ŋ ĹŊ ēŊ 9ed
bW fWhj_Y_fWY_ÂŒd [d [b i[c_dWh_e jWbb[h ieXh[ ĂˆC_Yhe Ykhh‡Ykbe o c[jeZebe]‡W Z[ bW Wi_]dWjkhWÉ" Z_# h[Yj_lei o YWj[Zh|j_Yei Z[ bW [nj[d# i_ÂŒd Z[ bW Kd_l[hi_ZWZ Bk_i LWh# ]Wi Jehh[i" YWcfki BW 9edYehZ_W" WYjkWb_pWhed YedeY_c_[djei fWhW i[h Wfb_YWZei [d bW fh|Yj_YW WZc_# d_ijhWj_lW o ZeY[dj[$ ;b \WY_b_jWZeh" HeZeb\e IWdj_# bb|d >[h[Z_W" cWd_\[ijÂŒ gk[ ik [nf[h_[dY_W [d bW Kd_l[hi_ZWZ JƒYd_YW Z[ 9^_cXehWpe b[ f[h# c_j[ Yedijhk_h [b YedeY_c_[dje Z[ XkiYWh c[`eh[i Z‡Wi fWhW bW
K`\e\e X Y`\e `em`kXi X jlj ]Xd`c`Xi\j p Xd`^fj X gXik`Z`gXi [\ cX JXekX D`jX gfi Zldgc`i 0 [ˆXj [\ jl j\ej`Yc\ ]Xcc\Z`d`\ekf# cX hl\ j\ i\Xc`qXi} \e cX @^c\j`X JXekX DXi`Xe`kX \c [ˆX cle\j *( [\ fZklYi\ X cXj (0_*'% Cl\^f j\ Zfek`elXi} Zfe \c i\qf \e jl [fd`Z`c`f lY`ZX[f \e cX K}Z`kf Fik`q Ef% ((( p 8m\e`[X C`Y\ikX[%
Gfi jl Xj`jk\eZ`X X \jk\ XZkf [\ ]\ Zi`j$ k`XeX# jlj ]Xd`c`Xi\j Xek`Z`gXe jl \k\ief X^iX[\Z`d`\ekf% <jd\iXc[Xj# *( [\ fZklYi\ [\c )'((% .)+))&b^
WYWZ[c_W [YkWjeh_WdW$ ÆI_ YWfWY_jWcei X_[d Wb Ze# Y[dj[" j[dZh[cei Xk[dei [ijk# Z_Wdj[i [d [b d_l[b ikf[h_eh o feij[h_ehc[dj[ c[`eh[i fhe# \[i_edWb[i" [i _dZkZWXb[ gk[ i_ gk[h[cei j[d[h kdW Xk[dW kd_# l[hi_ZWZ [i d[Y[iWh_e Z_ifed[h Z[ kd Xk[d YbWkijhe WYWZƒc_Ye Yed kd Ykhh‡Ykbe h[delWZeÇ$ J[c|j_YWi$ ;b WYWZƒc_Ye" W]h[]ÂŒ" gk[ ^kXe [nY[b[dj[ fh[Z_ifei_Y_ÂŒd Z[ Z_h[Yj_lei o YWj[Zh|j_Yei Z[b YWcfki kd_l[hi_jWh_e Z[ BW 9edYehZ_W" be gk[ \WY_b_jÂŒ [lW#
YkWh bWi j[c|j_YWi Z[b i[c_dW# h_e$ Æ7 bW WYWZ[c_W [YkWjeh_WdW b[ ^WY[ \WbjW W‘d YWfWY_jWh X_[d W bW fbWdW ZeY[dj[ Yed bW Ă’dWb_ZWZ Z[ Yh[Wh kd Z[iWhhebbe Z_d|c_Ye [djh[ ik ][dj[Ç" h[Ă’h_ÂŒ" IWdj_bb|d >[h[Z_W$ ;b YeehZ_dWZeh Z[ bW [nj[d# i_ÂŒd" <[hdWdZe 7dZ_de B[ÂŒd" [nfh[iÂŒ ik iWj_i\WYY_ÂŒd Yed be [nfk[ije [d [b i[c_dWh_e o h[_# j[hÂŒ [b Yecfhec_ie Z[ cWdj[d[h YWfWY_jWZe W jeZe [b f[hiedWb Ze# Y[dj[ Z[ bW [nj[di_ÂŒd$ Æ;ijWcei WlWdpWdZe W fWie WY[b[hWZe jWdje [d bW fWhj[ WYW# Zƒc_YW Yece Z[ _d\hW[ijhkYjkhW" [d Yedi[Yk[dY_W dk[ijhW eXb_# ]WY_ÂŒd [i fhef[dZ[h YedijWdj[# c[dj[ W ikcWh YedeY_c_[djei o [nf[h_[dY_Wi gk[ _Z[dj_Ă’gk[d fb[dWc[dj[ [b fhe]h[ie Z[ [ijW kd_ZWZ [ZkYWj_lW Z[b YWdjÂŒdÇ" _dZ_YÂŒ" 7dZ_de B[ÂŒd$
.! ~- ĹŠ#-ĹŠ 13#2 -~ 2
.2ĹŠÄ?ĹŠ,(+ĹŠÄˆÄ‡ÄˆĹŠ%1 ,.2ĹŠ"#ĹŠ!.! ~- ĹŠ"#!.,(2 ".2ĹŠ#-ĹŠ .11#.2ĹŠ "#+ĹŠ !4 ".1ĔŊ-.ĹŠ2.+.ĹŠ( -ĹŠ! ,4$+ ".2ĹŠ#-ĹŠ+ 2ĹŠ3 + 2ĹŠ"#ĹŠ/+ Äą 86.."ĔŊ2(-.ĹŠ3 , (_-ĹŠ#-ĹŠ+ 2ĹŠĹŠ.!'.ĹŠ 13#2 -~ 2ĹŠ04#ĹŠ#23 -ĹŠ "#-31.ĹŠ"#ĹŠ+ ĹŠ#-!.,(#-" ĹŠ04#ĹŠ( ĹŠ ĹŠ 2/  ē
3 -ĹŠ #) 2ĹŠ!.-ĹŠ, + 3'(.-
(#-3.Ŋ"#Ŋ #) 2Ŋ$4#1.-Ŋ 2#2(- " 2Ŋ!.-Ŋ + 3'(.-ĔŊ24)#Ĺ 3.2Ŋ-.Ŋ("#-3($(! ".2Ŋ+.Ŋ'(!(#1.-Ŋ/ 1 Ŋ1. 12#Ŋ+ Ŋ,(#+ēŊŊ +Ŋ '#!'.Ŋ.!411(¢Ŋ#-Ŋ4- Ŋ$(-! Ŋ#-Ŋ#+Ŋ1#!(-3.Ŋ 4, ĔŊ! -3¢-Ŋ 3 ! ,#2ē
#( )Ĺ‹' -.,)-Ĺ‹*, -)*),Ĺ‹*, -/(.)Ĺ‹* /& )
Ĺ?ÄƒÄ Ĺ? Ĺ?Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä
Ĺ? +. Ĺ?
Ä Ä†
ēŊ -31#ĹŠ#+ĹŠ5(#1-#2ĹŠ8ĹŠ2; ".ĹŠĂŒ+3(,.ĔŊ2#ĹŠ1# +(9¢Ŋ+ ĹŠ 4"(#-!( ĹŠ"#ĹŠ$.1,4+ !(¢-ĹŠ"#ĹŠ! 1%.2ĹŠ#-ĹŠ#+ĹŠ 49% ".ĹŠ 1(,#1.ĹŠ"#ĹŠ 1 -3~ 2ĹŠ #- +#2ĹŠ"#ĹŠ 2,#1 +" 2Ä“
.2Ŋ/1.$#2.1#2Ŋ %4 1" -Ŋ/1(2(¢-Ŋ #-Ŋ#+Ŋ #-31.Ŋ"#Ŋ #3#-!(¢-Ŋ 1.5(Ĺ 2(.- +Ŋĸ ĚŊ#-Ŋ -3 2Ŋ (- 2ē
BW Feb_Y‡W h[fehjÂŒ bW Z[j[dY_ÂŒd Z[ Y_dYe cW[ijhei feh fh[ikdje Z[b_je Z[ f[YkbWZe feh WXkie Z[ X_[d[i e Z_d[hei f‘Xb_Ye e fh_lW# Zei [d l_hjkZ e hWpÂŒd Z[b YWh]e Z[ i[hl_Zeh f‘Xb_Ye$ I[]‘d [b h[fehj[ Z[ bW Feb_Y‡W" bei fhe\[ieh[i Wfh[iWZei ied0 H_jW C[hY[Z[i =kW]kW Fƒh[p" Z[b Yeb[]_e Ăˆ9Whbei 9edY^WÉ1 <[h#
dWdZe F_WdY^_Y^[ Jh_l_‹e" Z[b b[jW Z[ Z[j[dY_ÂŒd de i[ bei ^W hWbZWiÉ" [ij| _cfkjWZW" ?d]h_Z Yeb[]_e Ăˆ7hY[i_e Ehj_p ;ijkf_# be]hWZe YWfjkhWh" gk_[d[i [ij|d C[b_ZW I[l_bbW Ă›l_bW" gk_[d l_l[ ‹|dÉ1 9_jW ;b_pWX[j^ C[hW Ced# i_[dZe XkiYWZei fWhW gk[ h[i# [d bWi YWbb[i ;beo 7b\Whe o '& Z[ jW‹e" M[bb_d]jed 7hcWdZe F[‹W fedZWd feh [b Z[b_je gk[ i[ bei 7]eije" [d [ijW khX[$ KbbeW o J[ed_bW B[dd_i LWb[dY_W h[ifediWX_b_pW$ BW b_ijW Z[ bei fhÂŒ\k]ei #2/.-2 (+(" "ĹŠ/#- + 9W_Y[Ze" Z[b Yeb[]_e Ăˆ@kb_e bW [dYWX[pW C_h_Wc 8[jjo Bei cW[ijhei1 7hY[d_e >[hce# C[dW Lƒb[pÉ" Z[ bW fWhhe# ĹŠ CedjW‹e 9|hZ[dWi" Z[b ][d[i 7bWhYÂŒd 8ed[" DkX_W @Wd[# gk_W 9WcWhed[i" YWdjÂŒd j^ ;if_dWb CWh‡d o 9ƒiWh Yeb[]_e jƒYd_Ye Ăˆ@W_# ;ic[hWbZWi$ #ĹŠ!.-.!(¢Ŋ04#ĹŠ c[ >khjWZeÉ" gk_[d ĹŠ C[Z_dW 7bX|d" Z[b Yeb[# ;djh[ [b l_[hd[i o i|# ÄˆÄŽĹŠ2#1~ -ĹŠ+.2ĹŠ ]_e ĂˆJ|Y_je Ehj_p Khh_ebWÉ" i[]‘d bW Feb_Y‡W XWZe ‘bj_ce" i[ h[Wb_pÂŒ W , #231.2ĹŠ04#ĹŠ ied ejhei Z[ bei XkiYWZei bW WkZ_[dY_W Z[ \ehck# !4#-3 -ĹŠ!.-ĹŠ .+#3 ĹŠ"#ĹŠ! /34Äą [ij| Zec_Y_b_WZW 4(#-#2ĹŠ'(!(#1.-ĹŠ feh bW Feb_Y‡W feh [b Z[b_# [d bW Y_kZWZ[bW bW +.2ĹŠ/1_23 ,.2ĹŠ bWY_ÂŒd Z[ YWh]ei [d [b 1 ĹŠ"#+ĹŠ 49% ".ĹŠ 1(,#1.ĹŠ"#ĹŠ Jeb_jW De$ '$ C_[d# $4#1.-ĹŠ, #231.2ĹŠ je Z[ fh[ikdje WXkie Z[ @kp]WZe Fh_c[he Z[ =W# 1 -3~ 2ĹŠ 8ĹŠ/#12.- +ĹŠ ",(Äą #- +#2ĹŠ"#ĹŠ \edZei f‘Xb_Yei$ jhWi gk[ HeiW 7bXW -(231 3(5.2ĹŠ"#ĹŠ hWdj‡Wi F[dWb[i Z[ ;ic[# 2,#1 +" 2ĔŊ/.1ĹŠ ÄˆÄ‡ÄŽĹŠ!.+#%(.2Ä“ ;b j[cW i[ h[c_j[ Wb hWbZWi" o i[ Z_YjÂŒ fh_i_ÂŒd /1#24-3.ĹŠ 42.ĹŠ 9^WhYefW 8ed[" "#ĹŠ$.-".2ĹŠ/ĂŒ +(Äą (&&/ YkWdZe [b ,+ Z[ Z[b Yeb[]_e Ăˆ@eiƒ F[# fh[l[dj_lW YedjhW bei Y_d# !.2ēŊ hWbjWÉ" bW Feb_Y‡W [ijWXb[Y[ cW[ijhei Z[ '&+ Yeb[]_ei Z[ bW Ye cW[ijhei fheY[iWZei$ gk[ ^WX_jW [d bWi YWbb[i , fhel_dY_W ;ic[hWbZWi h[Y_X_[# Z[ :_Y_[cXh[ o 9^_cXehWpe" [d hed Wdj_Y_fei W cWd[hW Z[ Yhƒ#
.2ĹŠ/1¢$4%.2 Z_jei j_fe 8 Z[b C_d_ij[h_e Z[ BW Feb_Y‡W jWcX_ƒd _d\ehcÂŒ gk[ bW Y_kZWZ ;ic[hWbZWi$ :[b Yeb[]_e jƒYd_Ye Ăˆ;ic[# <_dWdpWi Yed cedjei gk[ bb[]W# i[_i cW[ijhei gk[ [ij|d Yed Xe#
(. (. ,)(Ĺ‹ - -#( ,Ĺ‹ Ĺ‹/(Ĺ‹, &/-)Ĺ‹
De i[ ^W Z[j[hc_dWZe bW YWkiW feh bW gk[ Zei h[Ybkiei _dj[djW# hed Wi[i_dWh Yed fk‹WbWZWi Wb h[e I_bl_e :ec_d]e F_d_bbe CedjW‹e" Z[ (* W‹ei Z[ [ZWZ" Wb _dj[h_eh Z[b 9[djhe Z[ H[^WX_b_jWY_ÂŒd IeY_Wb Z[ LWhed[i [d ;ic[hWbZWi$ I[]‘d \Wc_b_Wh[i Z[b ^[h_Ze" bW l‡Yj_cW \k[ ik`[jWZW fWhW gk[ be WjWgk[d Yed kd WhcW Yehje# fkdpWdj[" bk[]e kde Z[ bei W]h[# ieh[i Yed kd XWdYe Z[ cWZ[hW b[ hecf_ÂŒ bW YWX[pW$ F_d_bbe CedjW‹e" WĂ’hcW j[d[h fb[dWc[dj[ _Z[dj_Ă’YWZe W bei j_#
fei gk[ be W]h[Z_[hed o WZ[c|i" WYkiŒ W kd ]k‡W Z[ fWhj_Y_fWh [d [b WjWgk[" feh [bbe bei \Wc_b_Wh[i fh[i[djWhWd bW Z[dkdY_W Wdj[ bWi Wkjeh_ZWZ[i Yehh[ifedZ_[dj[i$
.2ĹŠ5#!#2ĹŠ +ĹŠ'.2/(3 + BWi ^[h_ZWi b[ ^WXh‡Wd Yecfhe# c[j_Ze kd fkbcÂŒd" ZedZ[ i[]‘d be gk[ b[ ^Wd Z_Y^e bei cƒZ_Yei W bei fWh_[dj[i" j[dZh‡W Ye|]kbei Z[ iWd]h[ gk[ b[ _cf_Z[d h[if_# hWh Yed dehcWb_ZWZ o [d eYWi_e# d[i i_[dj[ gk[ i[ W^e]W$ ;b h[Ybkie gk[ [ij| i[dj[d#
Y_WZe W ', W‹ei Z[ Y|hY[b feh l_ebWY_ÂŒd" Z[ bei YkWb[i h[Y_ƒd ^W fW]WZe * W‹ei o * c[i[i" h[Y_X_ÂŒ Wj[dY_ÂŒd [d [b ^eif_jWb Ăˆ:[bĂ’dW Jehh[i Z[ 9edY^WÉ$ Bk[]e Z[ i[h Wi_ij_Ze \k[ bb[# lWZe W bW Y|hY[b" Z[ ZedZ[ dk[lW# c[dj[ jkl_[hed gk[ jhWibWZWhbe Wb ^eif_jWb fehgk[ i[ fkie Z[b_# YWZe Z[ iWbkZ$
4#ĹŠ+.ĹŠ(-3#1-#JecWiW Ehj_p 9WhhWdpW" cWZh[ Z[b ^[h_Ze" Z_`e gk[ Z[dkdY_Wh| Wdj[ bei eh]Wd_icei Yehh[ifed#
Z_[dj[i [b Wj[djWZe W ik ^_`e" feh# gk[ de fk[Z[ gk[ZWh _cfkd[ kd ^[Y^e Z[ [ijW dWjkhWb[pW$ Æ>[cei ieb_Y_jWZe W bei cƒZ_# Yei Z[b ^eif_jWb gk[ feh be c[dei be _dj[hd[d ^WijW gk[ i[ h[Ykf[hW Z[ bWi ^[h_ZWi" f[he dk[ijhe f[# Z_Ze de jkle [YeÇ" Z_`e bW cW‹WdW Z[b i|XWZe bW cWc| Z[b ^[h_Ze$ ;nfb_YÂŒ gk[ Wb gk[ZWhi[ [b fW# Y_[dj[ [d [b ^eif_jWb bei \Wc_b_W# h[i be fk[Z[d Yk_ZWh fWhW ik h[# Ykf[hWY_ÂŒd" f[he [d bW Y|hY[b de ^Wo bWi YedZ_Y_ed[i d[Y[iWh_Wi o Wb]e cWbe b[ fk[Z[ fWiWh$
23;-Ŋ/ % -". ŗŊŊ +Ŋ/1#2("#-3#Ŋ"#Ŋ+ Ŋ 2.!( !(¢-Ŋ"#Ŋ #!3.1#2Ŋ8Ŋ (1#!3.1#2Ŋ"#Ŋ .+#%(.2Ŋ
8ĹŠ 2!4#+ 2ĔŊ#-ĹŠ 2,#1 +" 2ĔŊ +ĂŒ!'#1ĹŠ 4(-3#1.ĹŠ 23 !(.ĔŊ"().ĹŠ ĹŠ"( 1(.ĹŠ ĹŠ .1 ĔŊ04#ĹŠ+#ĹŠ#731  Ŋ#23#ĹŠ/1.!#2.ĹŠ /.104#ĹŠ3.".2ĹŠ+.2ĹŠ, #231.2ĹŠ2#ĹŠ#-Äą !4#-31 -ĹŠ/ % -".ĹŠ!.-ĹŠ24ĹŠ24#+".ĹŠ+.2ĹŠ -3(!(/.2ĹŠ"#ĹŠ!1_"(3.ĹŠ8ĹŠ!.,.ĹŠ,4#231 ĹŠ "#ĹŠ#++.ĹŠ#2ĹŠ04#ĹŠ5(#-#-ĹŠ1#!( (#-".ĹŠ 4-ĹŠ!#-3 5.ĹŠ"#ĹŠ24#+".ĹŠ"#2"#ĹŠ#+ĹŠ  .ĹŠ / 2 ".Ä“ 7/+(!¢ĔŊ04#ĹŠ#2 ĹŠ$4#ĹŠ+ ĹŠ"(2/.2(Äą !(¢-ĹŠ"#+ĹŠ (-(23#1(.ĹŠ"#ĹŠ "4! !(¢-ĹŠ / 1 ĹŠ1#!4/#1 1ĹŠ+.2ĹŠ"(-#1.2ĔŊ#2ĹŠ"#!(1ĹŠ !. 1 1ĹŠ/.1ĹŠ1.+ĹŠ"#+ĹŠ24#+".ĔŊ3.".2ĹŠ+.2ĹŠ -3(!(/.2ĹŠ04#ĹŠ2#ĹŠ1# +(9 1.-Ä“
XWd ^WijW bei (&& c_b ZÂŒbWh[i" YkWdZe Wf[dWi feZ‡Wd h[Y_X_h c[dei Z[ bei jh[i iWbWh_ei X|i_# Yei kd_Ă’YWZei$ :[iZ[ [i[ [djedY[i" bW 9ed# jhWbeh‡W h[Wb_pÂŒ kdW WkZ_jeh‡W Wb fheY[ie Z[ WZ`kZ_YWY_ÂŒd Z[ Z_# d[he o jhWi Zei W‹ei h[Y_ƒd Z[# j[hc_dÂŒ gk[ [n_ij[d fh[ikdjWi h[ifediWX_b_ZWZ[i f[dWb[i feh fWhj[ Z[ bei fhe\[ieh[i$
ēŊ +Ŋ1#!+42.Ŋ (+5(.Ŋ .Ĺ ,(-%.Ŋ (-(++.Ŋ .-3  .ĔŊ+.Ŋ(-3#-3 1.-Ŋ 2#2(- 1Ŋ#-Ŋ+ Ŋ ;1!#+Ŋ"#Ŋ 1.-#2ē
Ďć! (-!+ēũ
ũĊĈũ ũ ũ ũĉćĈĈ
2,#1 +" 2
Ĉďũ :
ũ ũ ũ
!42 ".2ũ"#ũ/1#24-3.ũ/#!4+ ".Ĕũ!(-!.ũ, #231.2ũ$4#1.-ũ"#3#-(".2Ĕũ,(#-ı 31 2ũ04#ũ.31.2ũ04#ũ3(#-#-ũ .+#3 2ũ"#ũ! /341 ũ#23;-ũ/1¢$4%.2ēũ -31#ũ5(#1-#2ũ8ũ 2; ".ũ2#ũ1# +(9¢ũ+ ũ 4"(#-!( ũ"#ũ$.1,4+ !(¢-ũ"#ũ! 1%.2ēũ ;%(- ũ ĈĎ
4#5 2ũ"#11.3 2
.! $4#13#ũ8ũ +( -9 ũ"#+ũ (+¢-ũ5.+5(#1.-ũ ũ/#1"#1Ĕũ#+ũ/1(,#1.ũ#-ũ ! 2 ũ8ũ#+ũ2#%4-".ũ"#ũ5(2(3 -3#ėũ"#ũ+.2ũĉČũ/4-3.2ũ04#ũ' -ũ"(2/4ı 3 ".ũ#-ũ#+ũ -3#19.- +Ĕũ+.2ũĉĊũ2#ũ' -ũ/#1"(".Ĕũ /#- 2ũ' -ũ% - ".ũ 4-.ēũ ;%(- ũ Ē
#3 -!.413'Ĕũ 2(-ũ/ + 1 2 -ũ2'.6ũ #2/#!3 !4+ 1ũ /1#/ 1 ũ#+ũ ! -3 -3#ũ/ 1 ũ #+ũĈćũ"#ũ-.ı 5(#, 1#ē ;%(- ũ Ĉć