The Illustrators: The British Art of Illustration 1865-2019

Page 1




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89I937;I45719I <66 #5..84;<'I 56 86' ;D/GHEI$DA>IDGDADF=B ;D/GHEIFGEIDGB2CD-HEIFGEIFCADBA BIFEECHBBI@GICH HCBH 4HGIFGEIDG I@GI-@FCE I I IDG2>HB 7==0BACFAHE)I #'( &! '"( ' (4F/HI

4*;3<'I5 I93<I<&49 I!589I 793I37; 559 ;D/GHEIFGEIDGB2CD-HEI$DA>IFCADBA BIFEECHBBI@GICH HCBH 4HGIFGEIDG I$DA>I-@E"2@=@0CIFGEI HG2D=I@GI-@FCE I I I+IDG2>HB 7==0BACFAHE)I #'( &! '"( ' (4F/HI:%

793I8I.7(39I3<869I7I9*61<'I95I81' ;96*&&<' 4HGIFGEIDG I I IDG2>HB 7==0BACFAHE)I #'( &! '"( ' (4F/HI


E H SHEPARD

1@B FCHIF==ID==0BACFAHEIDG HGGHA>I(CF>F H?I #'( &! '"( '? .@GE@G)I @>GI.FGH?I9>HI!@E=H" 3HFE?I:+,

5*I&7(39I38 <I!<<1 98 <1I81'I;359I8;I;47<; ;D/GHEI$DA>IDGDADF=BIFGEIDGB2CD-HE 9>HI(@=EHGI8/H I-H=@$I @0GA ;D/GHEIFGEIDGB2CD-HEI$DA>IFCADBA B FEECHBBI@GICH HCBH 4HGIFGEIDG I$DA>I HG2D=I@GI-@FCE ::I I IDG2>HB 7==0BACFAHE)I #'( &! '"( ' 4F/HI

#


#

E H SHEPARD

7I9371 I79 ;I8I'68(51 ;D/GHEIFGEIDGB2CD-HEI$DA>IFCADBA BIFEECHBB @GICH HCBH 4HGIFGEIDG I$DA>I-@E"2@=@0CIFGEI HG2D= @GI-@FCE I I I IDG2>HB 7==0BACFAHE)I HGGHA>I(CF>F H?I $'% % ?I.@GE@G)I @>GI.FGH?I9>HI!@E=H" 3HFE?I:+ %?I4F/HI::,

93<I6<.*#9819I'68(51 ;D/GHEIFGEIDGB2CD-HEI$DA>IFCADBA BIFEECHBB @GICH HCBH 4HGIFGEIDG I$DA>I-@E"2@=@0CI@GI-@FCE I I::IDG2>HB 7==0BACFAHE)I HGGHA>I(CF>F H?I $'% % ?I.@GE@G)IA>HI!@E=H"I3HFE?I:+ %? 4F/HBI::% :::


E H SHEPARD

;*1'8 I17(39I6<9*61 ;D/GHE 7GB2CD-HEI$DA>IADA=HI-H=@$I @0GA 4HGIFGEIDG I@GI-@FCE ::I I: IDG2>HB 7==0BACFAHE)I " #?I, I;H AH -HCI:+ +?I4F/HBI , ?I ;0GEF"I1D/>AI6HA0CG I-"I I(I @"2HI(CHG H== < >D-DAHE)I <I3I;>H FCEIFAI " #?I:+% :+ , ?I#>CDBI!HHA=HBI(F==HC"?I 0="I,%:+

#


CHARLES TUNNICLIFFE


CHARLES TUNNICLIFFE

0 & $ / , 9 3I 7 - - 6 0, 6 9

0=ED@HBI DH?HDG>2I7:FFG>@G H;I"'9I/$I/9I .3 ,$ +) + +) )

CDIEI<GC4DE8=5IC%I0=ED@HBI7:FFG>@G H;I8@HEBHIDH%HDIACI$&,- "" %)+*)(+%;I! + ; .E4HI !

7$/ $I$- I7&9I" , C88CBGAH 3G4FH?I(GA=IGFGAGE@B 6FB>DG<H?I# E4G>IC%I,GAHDEA:DHI!*ICFICDG4GFE@ B:88CDAGF4I>ED? .HFIEF?IGF2ICFIB>DE8HD<CED?

I I I IGF>=HBI G@@:BADEAH? I/C<HDAI&I0C(@H5I H? ;I$&,- * ' -( '),+*) +, - - '% ,""*# - (+- ( %-*#!- '+"%;I'CC2I!; ,CF?CF I'@E>2GH;I+) ;I.E4HI! );I 7ED2EIA=HI"AAHD <5I&HFD5I G@@GE1BCF

#7=HI E4G>IC%I,GAHDEA:DH*I(EBIEIBHDGHBIC%I%C:D G@@:BADEAH?I1GB>H@@EFGHBI(GA=IBA:?5IBH>AGCFBI%CD >=G@?DHFIC%I8CBA 8DG1ED5IE4H I6AI(EBI>C18G@H?I<5 /C<HDAI&I0DC(@H5IEF?I8:<@GB=H?IGFI,CF?CFI<5 '@E>2GHI I3CFIGFIA=HI+) B I CDI'CC2I!;I8:<@GB=H? GFI+) ;I7:FFG>@G HI>CFADG<:AH?IEFIG@@:BADEAGCFIACIEF H ADE>AI%DC1I&HFD5I G@@GE1BCF*BI$*+ *-)&,- )),+ 9G4=AI5HEDBIHED@GHD;I=HI=E?I1E?HI=GBIFE1HI(GA=I=GB (CC? HF4DE H?IG@@:BADEAGCFBIACI G@@GE1BCF*BIFC H@

7&9I9$ ,9I6 DG4=A 6FB>DG<H?I#9 HDHBAI *ICFICDG4GFE@IB:88CDAGF4I>ED? .HFIEF?IGF2ICFIB>DE8HD<CED? I I I IGF>=HB .DC<E<@5IG@@:BADEAH?IGFI$&,- ,+,%)- ,*!,+ ; 'C1<E5 I'@E>2GHI I3CF;I0GD>EI+) !

6EFI-GE@@;I (+)+*')-( -*- ( #)+ - +)'%) - &*+",%-$ ##' "' , - - ;I,CF?CF C@@EF> ;I+) I 5 FI G@@GE1BI DH ;I#7:FFG>@G H;I0=ED@HBI DH?HDG>2I +) + +) ) *; &I0I I EAA=H(IEF?I'DGEFI&EDDGBCFI H?B ;I (+!- ' )'(#*+ -( - *)'(#*"- '( +* & ; " %CD?I FG HDBGA5I.DHBB;I! ;I C@I ;I.E4HBI +


CHARLES TUNNICLIFFE

" /I,677,9I"-93I 6,,I-9 9/I /" I .I3"I,"- I$3 7&$7I3-$ 9I,6 93I-9$/I 3 6FB>DG<H?I(GA=IAGA@HIEF?I#7=HI GBHI0DC(*ICFICDG4GFE@IB:88CDAGF4I>ED? .HFIEF?IGF2ICFIB>DE8HD<CED? I I I IGF>=HB .DC<E<@5IG@@:BADEAH?IGFI$&,- ,+,%)- ,*!,+ 666;I'C1<E5 I'@E>2GHI I3CF; 0GD>EI+) !

$>>CD?GF4IACIEFIE? HDAGBH1HFAIGFI$&,- ( )&- #!'*-$,* &,+ GFI+) !; #7=HI9 HDHBAI/HE?HDB*I(HDHI8:<@GB=H?IGFI6F?GEI<5I'@E>2GHI I3CFIEBIEI#-H( C?HDFIEF?I0EDH%:@@5I DE?H?I3HDGHBIC%I/HE?HDBI%CDI6F?GEFI3>=CC@B*IEF? # :@@5I6@@:BADEAH?IGFI0C@C:DIEF?I'@E>2IEF?I =GAH* I7=HIG@@:BADEAGCFBI<5 0=ED@HBI7:FFG>@G HIA=EAIEDHIDH8DHBHFAH?I=HDHIB:44HBAIA=EAIA=HIDHE?HDB >C18DGBH?IEI>C1<GFEAGCFIC%I9F4@GB=IEF?I6F?GEFI8CHAD5IEF?I8DCBH I7=HBH GF>@:?H?I8CH1BI<5I7HFF5BCFI #7=HI9E4@H* IEF?I3EDC GFGI-EG?:I #38DGF4* ;IEF? BACDGHBI%DC1IA=HIEF>GHFAI3EFB2DGAI>C@@H>AGCFI #7=HI0DC(BIEF?IA=HI3HD8HFA*


CHARLES TUNNICLIFFE

3./6- 6FB>DG<H?I(GA=IAGA@H;I#3EDC GFGI-EG?:*IEF?I#9 HDHBAI * CFICDG4GFE@IB:88CDAGF4I>ED? .HFIEF?IGF2ICFIB>DE8HD<CED? I I I I IGF>=HB .DC<E<@5IG@@:BADEAH?IGFI$&,- ,+,%)- ,*!,+ ;I'C1<E5 '@E>2GHI I3CF;I0GD>EI+) !

7&9I./6-09*3 39/ $-73I3$ I7&9I0/" /"..6- 7&9I ", $- ,97I6-7"I7&9I&",9 6-I7&9I7/99 6FB>DG<H?I(GA=IAGA@HIEF? #9 HDHBAI/HE?HDI666*ICFICDG4GFE@ B:88CDAGF4I>ED? .HFIEF?IGF2ICFIB>DE8HD<CED? !I I I IGF>=HB .DC<E<@5IG@@:BADEAH?IGFI$&,- ,+,%) ,*!,+-666;I'C1<E5 I'@E>2GHI 3CF;I0GD>EI+) !


/0

EDWARD ARDIZZONE


/

EDWARD ARDIZZONE

J6+H ? 6V H? 6 A B > J

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

E=JV1B1 >J VD1J>JVA>VE=JV5 #)DV P99PLSOU DS<TUNVCSOKVSTSOSRML ATLIQS;UNVCSOKVOSOMUVRTNV"DOQRTNV2R<(V;UMPCV:PGTO 8UTVST/VRTNVCROUQIPMPGQVCSOKV9UTISM 5)V V,V3VSTIKUL AMMGLOQROUN%V%',1 *-+/(1 +!+ 0/,FV GTUV53$ FV"EKUVJOUQTRMV1PI/TU@( ;@VEKP:RLV.GQ/U

H4OUQVOKUVDUIPTNV+PQMNV+RQFVHQNS**PTUVCPQ/UNVSTIQURLST<M@VRLVRTVSMMGLOQROPQ P4VMSOUQRQ@VIMRLLSILFVRTNVIPMMR;PQROUNVIMPLUM@VCSOKVRVTG:;UQVP4VIPTOU:9PQRQ@ RGOKPQL'VHVOURIKUQVP4VSMMGLOQROSPTVROV1R:;UQCUMMVDIKPPMVP4VHQOVRTNVP4VUOIKST< ROVOKUV?P@RMV1PMMU<UVP4VHQOV 53 #5 FVKUVCPTVLU-UQRMV9QS*ULVSTIMGNST<VOKU 1RQTU<SUV2UNRMV 53 VRTNVOKUV=RTLV1KQSLOSRTVHTNUQLUTV2UNRMV 53 # V4PQ &RQ UPT(LV%',1 0**&,1 .. -.. FVRTNVOKUV QLOV ROUV0QUUTRCR@VHCRQNV 53 # 4PQ %0 1"&&1"&./,'V+PQ/ST<VRNNSOSPTRMM@VRLV9RSTOUQFVLIGM9OPQFVMSOKP<QR9KUQVRTN NULS<TUQFVKUV;UIR:UVRTVRLLPISROUVP4VOKUV?P@RMVHIRNU:@VSTV53# VRTNVRV4GMM RIRNU:SISRTVSTV53 )'V=UVCRLVIQUROUNV1.JVSTV53 5VRTNVRV?P@RMV6ULS<TUQVOP ATNGLOQ@VOKQUUV@URQLVMROUQ'VEKPG<KVKUVMS-UNVSTV2RSNRV RMUV4PQV:PLOVP4VKSL IRQUUQFVKUVL9UTOVRTVSTIQURLST<VR:PGTOVP4VKSLV TRMVNUIRNUVSTV UTOFVQU-SLSOST< OKUVIPRLOVRTNVIPGTOQ@LSNUVOKROVKRNVMPT<VSTL9SQUNVKS:'V=UVNSUNVSTVOKROVIPGTO@F ROV?PN:UQLKR:FVPTV V>P-U:;UQV53 3' &PQVRTVULLR@VPTVHQNS**PTU(LVSMMGLOQROSPTLVOPV1@QSMV?R@(LV ,-- 1 /!&+/(F LUUV%',1 &&$)*-+*.-)FV5333FV8R<ULV53 53 ' =SLVCPQ/VSLVQU9QULUTOUNVSTVTG:UQPGLV9G;MSIVIPMMUIOSPTLFVSTIMGNST<VOKU .QSOSLKV2GLUG:FVOKUVA:9UQSRMV+RQV2GLUG:LFVEROUVRTNVOKUV H VRTNVOKU HLK:PMURTV2GLUG:V B,4PQN ' .QSRTVHMNUQLPTFV ( +-(1"-(0 ./, 1"1 0 &0.!-+ '0#1 . ,/*+- FV7PTNPT%VEKUV.QSOSLK 7S;QRQ@FV )) V>SIKPMRLVHQNS**PTUF ( +-(1"-(0 ./, )1 .-&( 1%',1 *#'0/!)1+/( 0*'.!-+ ') 1"/1 /*-.($#*0./1+/(1 +*+&.!$,1 +0).// FV7PTNPT%V!TSIPQTV8QULLVRTN +PMLUMU@V&STUVHQOLFV ))) VHMRTV8PCUQLFV ( +-(1"-(0 ./, 1"-*0)*1+/(1 &&$)*-+*.-F 7PTNPT%V7GTNV=G:9KQSULFV )5# V0R;QSUMV+KSOUFV ( +-(1"-(0 ./,FV7PTNPT%V.PNMU@ =URNFV53 3

>PL FV F FV F FV FV F V RQUVRMMV4QP:VOKUVIPMMUIOSPT P4V GN@VER@MPQV2.JF 1KSMNQUT LVJNSOPQV4PQ .PNMU@V=URN

6UORSMVP4V


0

!>6J?VE=JV0?JJ>+BB6VE?JJ DS<TUNV"6S*( HMLPVLOR:9UNVCSOKVOKUVRQOSLO(LVLOGNSPVLOR:9 8UTVRTNVST/ #V V,V VSTIKUL AMMGLOQROUN%V +(0.1%0 ,)FV )V6UIU:;UQV53 FV8R<UV$ F "!TNUQVOKUV0QUUTCPPNVEQUU'VEKP:RLV=RQN@(LVTP-UMVSL OPV;UVQURNVRLVRVLUQSRMV;@V V1V1MSTOPT .RNNUMU@'(

EDWARD ARDIZZONE


EDWARD ARDIZZONE

B76 EA2JV2!DA1 =H77 ATLIQS;UNVCSOKVOSOMUVRTNV"EUMVDG99MU:UTO(VRTNVNROUNV #' ' VRTN '#' VPTVQU-UQLU 8UTVST/VRTNVCROUQIPMPGQVCSOKV9UTISM #V V,V V VSTIKUL AMMGLOQROUN%V +(0.1%0 ,)FVEUMU-SLSPTVDG99MU:UTOFV #V2RQIKV53 FVV8R<UV F "BMN ES:UV2GLSIV=RMM( V +(0.1%0 ,)FV V GTUV53 FV8R<UV F "EKUVBMNV2GLSI =RMML(

0


0-

E=JVJD1H8B7B0ADE 8UTVST/VRTNVCROUQIPMPGQVCSOKV9UTISM V V,V3V VSTIKUL

EDWARD ARDIZZONE


EDWARD ARDIZZONE

E=JV.BHEVEBV0?JJ>+A1= DS<TUNVCSOKVSTSOSRML +ROUQIPMPGQVRTNV9UTISM 5$V,V53VSTIKUL

0

J,KS;SOUN%V7USIULOUQV0RMMUQSULFV7PTNPTFV&U;QGRQ@V53$ FV>PV 1R:9;UMMV V&QRT/LV &STUVHQOL FV7PTNPTFV2RQIKV53 3FV>PV $ "HQNS**PTUV;@VOKUVDUR(FV2SNNMUL;QPG<KV.PQPG<KV1PGTISMV2GLUG:LVRTNVHQO 0RMMUQ@VDUQ-SIUFV53 FV>PV


0.

DH7BB>V.H?VHEVE=JV7B1H7 ATLIQS;UNVCSOKVOSOMUVPTVQU-UQLU ATLIQS;UNVCSOKVOSOMUVPTVMR;UMVPTVPQS<STRMV;RI/;PRQN 8UTVST/VRTNVCROUQIPMPGQ V V,V55V VSTIKUL 8QP-UTRTIU%VEKUV7USIULOUQV0RMMUQSULFV7PTNPT

EDWARD ARDIZZONE

HVEBHDEVHEVE=JV.H? P99PLSOU DS<TUNVCSOKVSTSOSRML +ROUQIPMPGQVCSOKVST/VRTNV9UTISMVPTV;PRQN 5)V,V3V VSTIKUL


EDWARD ARDIZZONE

0+


0,

EDWARD ARDIZZONE


EDWARD ARDIZZONE

E=JV8?A HEJV.H?VHEVE=JV0BHEV P99PLSOU 8UTVRTNVST/ V V,V V VSTIKUL AMMGLOQROUN%V2RGQSIUV0PQKR:FV +# 1%.1*',1 .#+&FV7PTNPT%V8UQIS-RMV2RQLKRMMF 53$3FV8R<UV 3 J,KS;SOUN%V"JNCRQNVHQNS**PTU(FVOKUVDIPOOSLKVHQOLV1PGTISMFVEPGQST<VJ,KS;SOSPTF 53 3 )FV>PV3# VJNCRQNVHQNS**PTUV53)) 53 3(FV>UCV0QR4OPTV0RMMUQ@F &U;QGRQ@ 2RQIKV53 5FV>PV

.B67J V=JH6V.BB DV&B?V0A?7DVH>6V.B D DS<TUNV"6S*( 8UTVRTNVST/VCSOKV;PN@IPMPGQVRTNV9UTISMVPTVOSTOUNV9R9UQ 5 V,V5$V VSTIKUL

0/


00

EDWARD ARDIZZONE

E=JV.J77JDVB&VDEVE?A>AH>(D DS<TUNV"6S*( HMLPVSTLIQS;UNV;@V?PTRMNVDURQMUFV"JNCRQNVHQNS**PTU( 8QUMS:STRQ@V9UTVST/VRTNV9UTISMVNQRCST<V4PQV"0SQML V0SQML (VPTVQU-UQLU 8UTVRTNVST/ #V V,V V VSTIKUL 8QP-UTRTIU%V?PTRMNVDURQMU V GN@VER@MPQV2.J AMMGLOQROUN%V $/#'FV VH9QSMV53 $FV8R<UV$ FV"0SQML V0SQML (V;@V0V+VDOPTSUQ

>PLV RIIP:9RT@VRTVRQOSIMUV;@V0V+VDOPTSUQVPTVKSLV-SLSOVOPVOKUVLUO P4V7RGTNUQVRTNV0SMMSRO(LV%',1 ,&&,)1. 1 *1%-0/0+/ )FVOKUV QLOVP4VOKU DOVEQSTSRT(LV M:LFVSTL9SQUNV;@VOKUVIQUROSPTVP4V?PTRMNVDURQMUVRTNVQUMURLUNVST 53 $'VEKU@VCUQUVRMMVU,KS;SOUNVROV"JNCRQNVHQNS**PTUV?HV53)) 53 3V V HV1UTOUTRQ@V1UMU;QROSPT(FVHLK:PMURTV2GLUG:FVB,4PQNFV )))FV>PV53


EDWARD ARDIZZONE

E=?JJVDEVE?A>AH>(DV0A?7D 8UTVRTNVST/ 5V V,V V VSTIKULV 8QP-UTRTIU%V?PTRMNVDURQMU V GN@VER@MPQV2.J AMMGLOQROUN%V $/#' VH9QSMV53 $FV8R<UV$ FV"0SQML V0SQML ( ;@V0V+VDOPTSUQ

0A?7D V0A?7D ATLIQS;UNVRTNVNROUNV;@V?PTRMNVDURQMUFV"8GTIKV53 $( 8UTVRTNVST/ V V,V VSTIKUL 8QP-UTRTIU%V?PTRMNVDURQMU GN@VER@MPQV2.J AMMGLOQROUN%V $/#'FV VH9QSMV53 $FV8R<UV$ $FV"0SQML V0SQML ( ;@V0V+VDOPTSUQ

0


EDWARD ARDIZZONE

>PLV %V GN@VER@MPQFVSTVKUQVUNSOSPTVP4VHQNS**PTU(LV ,*#',)1 . -0,/()FV7PTNPT%V PKTV2GQQR@FV )))FVTPOULVOKROV"STV53 3FV4PQVKSLVPCT R:GLU:UTOFVJNCRQNVHQNS**PTUV;U<RTVRVLUQSULVP4VSMMGLOQROUNVMUOOUQLVOP 2QVDTPN<QRLLFVRTVS:R<STRQ@V RTNVU,OQU:UM@VSTU ISUTO V9G;MSISO@V:RTR<UQ 4PQVRV Q:VP4VIPQLUOV:RTG4RIOGQUQLFV1P: 1PQLUOL'(

HV7A.J?H7V6BDJVB&VD1=>H88JD% HV7JEEJ?VEBV2?VD>B60?HDDV&?B2V VJ>E+ADE7J 6ROUNV" OKV GM@V #( 8UTVRTNVST/ $V,V VSTIKUL 8QP-UTRTIU%VEKUV2R@PQV0RMMUQ@FV GM@V53 ) V GN@VER@MPQV2.J

"6URQVDTPN<QRLL AVKRLOUTVOPVRTLCUQV@PGQVMUOOUQVRTNVCSLKV@PGV P@VPTV@PGQ QUOGQTVOPVOKSLVPGQVTROS-UVMRTN' +UVOPPVKR-UV;UUTVSTV4PQUS<TVIMS:ULV VKR-UVIP:UV;RI/VCSOKVPGQVPCTV;UMMSUL CUMMVMSTUNVCSOKV<PPNV6GOIKV4PPNV VMS;UQRMVNPLULVP4VDIKTR99L' PGQLVU-UQ VJTOCSLOMU(


EDWARD ARDIZZONE

B>V.J>6J6V >JJ% HV7JEEJ?VEBV2?VD>B60?HDDV&?B2V B=>V8B6D>H8 DS<TUNVCSOKVSTSOSRML 8UTVRTNVST/ $V V,V VSTIKUL

"2@VNURQVDTPP/L ?U;GLVSTVHQNGSL VAV/TPCV@PGQVNS IGMOSULVRQUV<QUROV;GOVNPT O 4PQ<UOVSOLV"HU GR:V:U:UTOP('V UU9VIRM:FV4RIUVG9VOPVOKU:VRTN 9QP;MU:LVOKROVLUU:VSTLU9RQR;MUVTPCVCSMMV:UMOVRCR@V;U4PQUVR LOURN4RLOV4QPTO' +SOKV;ULOVCSLKUL PKTV8PNLTR9(


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CUMULATIVE INDEX

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CUMULATIVE INDEX

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


CUMULATIVE INDEX

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


<;<

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

CUMULATIVE INDEX

HS ]#5R:EN]F'VUN"P]Z[[I\]WYYK

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

@VJ<LVD\]CTOLHTP](''(\](''*\ Z[[I\](''$\]Z[[K\ ('''\]WYYY\ WYYZ\]WYYW\]WYYI\]*))&\]WYY-\ WYY[\]WYZY\]WYZZ\]WYZW\]WYZ2\ WYZ*\]WYZK\]WYZ-\]WYZ[ @VXDVX<XTN\]6RHSNP]Z[[W\]Z[[[ @VQNORU\]>SQQSVDP]WYZ* @V'XU$BSQQ\]6XRUVTMP]Z[[W\]Z[[K\ Z[[[\]WYYI\]WYYK\]WYZY\]WYZW\ WYZ* @XXM\]FM:VTM]AXUUENRUP]Z[[I\ Z[[,\]Z[[[\]*))"\]WYYK\]WYZZ\ WYZW\]WYZ2\]WYZ* @XSM\]GOX.LXUP]WYYI\]WYZW @XSOLXTDVU\]>RQ)?VU?P]Z[[I\ Z[[[\]WYYI @ OLS\]6SQSP]WYYK] @XEURQMN\]+TVU<P]Z[[Z\]Z[[W\ Z[[I\](''$\]Z[[K\]Z[[[\]WYYZ\

GVSUORU\];LVTQXN]5TRN.XTP]Z[[K GVQVDVU\]+]/]=P]]Z[[[ GVQDRU\]/]9]=VQQSRQP]Z[[[ GVD3RHTUX\]6SUQXEP](''$\]WYYI\ WYYK\]WYZY\]WYZ* GVUME\]B];P]Z[[Z GVHQ\]7NV3XQP]Z[[K GJVT)X\]1XTVQMP]Z[[Z\]Z[[W\]Z[[I GJLHQ \];LVTQXN]9RUTRXP]Z[[Z\ Z[[W\]Z[[K\]WYZ[ GJL:V3X\]@VUMRQ.LP]Z[[K\]WYZ, GXVTQX\]@RUVQMP]Z[[Z\]Z[[W\ (''"\]Z[[,\](''&\]('''\ WYYY\ *))(\]WYYW\]*))&\]WYY-\]*)()\ *)((\]WYZW\]WYZ2\]*)(#\]*)($\ WYZK\]WYZ-\]WYZ[ GX'XTU\]CTOLHTP]Z[[, GLVJ<QXORU\]>SQQSVDP]WYYK GLVUURU\];LVTQXNP]Z[[[

GLXQMRU\];LVTQXN]9SQQP]]Z[[[ GLV:\]=EVDP]Z[[Z\]Z[[K\]*)(! GLX.VTM\]FTUXNO]BR:VTMP](''(\ (''*\](''"\](''$\](''&\ ('''\ WYYY\]*))(\]WYYW\]*))"\ *))&\]WYY-\]*))'\]*)()\]*)((\ *)(*\]*)(!\ *)(#\ WYZ,\]*)(&\ WYZ-\]WYZ[ GLX.VTM\]9VTEP *)(! GLX.LXTM\]ALRDVN]BRNDXTP]WYZ2 GLX.LXTM\]>SQQSVD]/VDXN]C))QXJ<P Z[[I GLX..XTNRU\];QVHMXP]Z[[K\]WYYK\ WYZY\]WYZW GLXTSU?LVD\]1XRT?XP]Z[[W\]Z[[K\ WYYK GLXTTS))N\]@R3XTO]GOX:VTOP]Z[[K\ WYYK\]*))'\ *)()\ *)((\]*)(! GSQQSUJX\]>SQQSVDP]Z[[Z\]WYYI\ WYZ2 GSDX\]GSMUXE]BXT3XTOP]Z[[Z\ Z[[,\]Z[[[\]WYY[\]WYZZ\]WYZK GSDDRUN\]/RLUP]Z[[K GSDDRUN\]>]GO];QVSTP]]Z[[[ GSD.NRU\]/RNX.L]>P]Z[[I\]WYYK GQVOXT\]5VHQP]Z[[[ GQRJRD3X\]FM:VTMP]Z[[K GQRJRD3X\]+TXMXTSJ<P]Z[[K GDVQQ\]>SQQSVDP]Z[[[ GDSOL\]/XNNSX]>SQJR(P]WYYK GDEOLX\]@X?P]Z[[I\]Z[[[ GR.XT\]FSQXXUP]Z[[Z\](''&\]Z[[[\ WYYI\]WYYGR.XT\]1XRT?XP]Z[[Z\]Z[[K GRTXQ\]FMP]*))&\]WYY-\]WYZZ\ WYZ2\]WYZ*\]WYZ, GR:XT3E\]9SQQSJXUOP]Z[[Z\]Z[[W G.VTX\]CHNOSU]0NDVUP]Z[[Z\ Z[[, G.TRM\]1XRT?XP]Z[[K\]Z[[[\]WYZY G.HTTSXT\]GOX'XUP]Z[[W\](''' G.E]#6XNQSX]>VTM"P]WYY[\]WYZY\ WYZZ\]WYZW GOVJXE\]>VQOXT]GEMUXEP]WYY[ GOVD.V\]1XRT?X]6RTVSUXP]Z[[Z\ Z[[W\]Z[[I\]Z[[K\]Z[[[\]WYYI\ WYYK\]WYZY\]WYZW\]WYZ2 GOVUS)RTOL\]/RNX.L]9RTX:RRMP WYZY GOVUSQVUM\];LVTQXN]/RNX.LP]WYZ2 GOXVMDVU\]@VQ.LP]Z[[Z\]Z[[W\ Z[[,\]Z[[K GOR<XN\]CMTSVUP]Z[[K GOR<XN\]9VTSVUUXP]Z[[K

GOROLVTM\]ALRDVNP]Z[[[ GOROO\]=SQQP]WYZ2\]WYZ* GOTVU?\]>SQQSVDP]WYYK GOTH3X\]GSMUXEP]Z[[[\]WYYI\]WYYK\ WYZ2 GOHMME\]1XRT?X]FTUXNOP]Z[[Z\ Z[[W\]Z[[K\]Z[[[\]WYYK\]WYZY\ WYZZ GHQQS'VU\]FMDHUM]/RNX.LP]Z[[Z\ (''*\]Z[[K\]Z[[[\]WYY[\]WYZY\ WYZW\]WYZ,\]WYZ-\]WYZ[ GHQQS'VU\]/VDXN]+TVU<P]WYZ2 G:VDE\]G]8P]WYZW G:VU\]/RLU]9VJVQQVUP]Z[[K G:VU:SJ<\]=XOOEP](''(\]Z[[I\ Z[[K\]WYY-\]WYZZ\]*)(& G E<\]CTOLHTP]WYYI

AVUNXUMP]Z[[[ AVTTVUO\]9VT?VTXOP]Z[[W\]Z[[I\ Z[[,\]Z[[K\]Z[[[\]WYYW\]WYYI\ WYYK\]WYY-\]WYZY\]WYZW\]WYZ2\ WYZ*\]WYZK\]WYZAVTTVUO\]5XTJEP]Z[[Z AVEQRT\]/RLU]>LSO)SXQMP]WYYI AXUUVUO\]GOX.LXUP]WYYI AXUUSXQ\]/RLUP]Z[[Z\]Z[[W\]Z[[I\ Z[[,\]Z[[K\]Z[[[\]WYYI\]WYYK\ WYY[\]WYZY\]*)((\]*)(*\]WYZ2\ WYZ*\]WYZ[ ALVJ<XTVE\]6VUJXP]Z[[W\]Z[[K ALXQ:XQQ\]8RTDVUP]Z[[Z\]Z[[W\ Z[[I\]Z[[K\]Z[[[\]WYYW\]WYYK\ *))'\]*)()\]*)((\]WYZ2\]WYZ*\ WYZK\]WYZ[ ALRDVN\]=XTOP]Z[[Z\]Z[[K\]Z[[[\ WYYI\]WYZZ\]WYZ* ALRDVN\]+TVU<P]Z[[I\]Z[[[\]WYYI ALRDVN\]>SQQSVD]+QXOJLXTP]Z[[I\ Z[[,\]WYYI\]WYZ2 ALRDNRU\]BH?LP]Z[[Z\]Z[[K\ Z[[[\]*)(# ALRT.X\]/VDXNP]Z[[Z ALHT3XT\]/VDXNP]Z[[Z ASME\]=SQQP]Z[[I\]WYZ2\]WYZ* ASDQSU\]>SQQSVD]9SOJLXNRUP]Z[[,\ Z[[[ ASOJRD3X\]=SQQP]Z[[[ AR.RQN<S\]+XQS<NP]Z[[Z\]*)(( ARHTOXQ\]9VTEP]Z[[I\]Z[[K\]WYYY\ WYZZ AR:UNXUM\]+TXMXTSJ<]BXUTEP Z[[[\]WYZY


INDEX

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

>SD3HNL\]BXUTEP]Z[[K >RRM\]/RLU]8RTTSNP]*)(* >RRM\]6V:NRUP]Z[[Z\]Z[[W\ Z[[I\]Z[[K\]Z[[[\]WYYW\]WYYK\ WYY-\]WYY[\]WYZY\]WYZZ\]WYZ2 >RRM\]GOVTTP]Z[[W\]Z[[K\]Z[[[\ WYYI\]WYYK >RRM:VTM\]1XRT?X]9HT?VOTREMP WYYK >RROORU\]@X?P]Z[[Z\]WYYI\]WYZZ >TS?LO\]CQVUP]Z[[Z\]Z[[,\]Z[[K\ WYZZ\]WYZW\]WYZK >TS?LO\]/RLU]9VNXEP]Z[[, >TS?LO\]5VOTSJ<P]Z[[I\]Z[[K\ Z[[[ >EQQSX\]>SQQSVD]6SRUXQP]Z[[K >ENVTM\]ARUEP]WYZ* !XVON\]/VJ<]=HOQXTP]Z[[I SU<XSNXU\]CUUVP]Z[[I\]WYYK SU<XSNXU\]4RTSNP]WYYK\]WYY-

78 4 F CTMS RUX\]FM:VTM] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]K-$ZY2 CTSN\]FTUXNO] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]I2$I[ CTUR\]5XOXT] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z2Y =VOXDVU\]B]9] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]*2$,I =R(XT\]9VT<] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZW[$ZII =TRR<XN\]5XOXT] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z-,$Z-=HQQ\]@XU ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]W,$WK =HTUSU?LVD\]/RLU] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z2-$Z*I ;QVT<X\]BVTTE] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]2Y$2Z ;TRNN\]5XOXT]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]I ;HNSJ<\]/RUVOLVU]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z[*$Z[K 4VTTR:\]>LSOUXE] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z2Z$Z2W 4SNUXE]GOHMSR\]>VQO] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZI4TX:\]GSDRU] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z-[$Z[W 4H]9VHTSXT\]1XRT?X]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]-$[ FDXOO\]@R:QVUM] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZY*$ZZI +RQ<VTM\];LVTQXN]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]IY$II +RTXDVU\]9SJLVXQ] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z*2$ZKZ +RH?VNNX]#;ETSQ]%XUUXOL]=STM"]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]*W$*I 1XTTVTM\]@RE] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZI2$ZIK 1QVNLVU\]/RLU]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZZ[$ZW* BVQQ\]CDVUMV]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZKW$ZKK] ]=VJ<]FUM.V.XT BVTTSNRU\]+QRTXUJX] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]W-$W[ BXUUXNNE\]>SQQSVD]/RLU] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]WY$WZ BR UHU?\]1XTVTM]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZZ%RTXU\]FM:VTM] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z2*$Z2K 6VTTE]#AXTXUJX]5VT<XN"]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZW,$ZW6X'SUX\]4V'SM] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z2I$Z22 9J6VJLQVU\]FM]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z-Y$Z-I 9V?XTQ\];VTRQSUX]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZK-$ZK[ 9VOO]#9VOO]5TSOJLXOO"] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z[I$Z[2 9VE\]5LSQ] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZY$ZZ 5RUO]#1TVLVD]6VSMQXT"] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]],2$,* @VJ<LVD\]CTOLHT] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZW$Z[ @R3SUNRU\]>SQQSVD]BXVOL] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]2W$*Z GJLHQ \];LVTQXN] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZI[ GXVTQX\]@RUVQM] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZZ2$ZZ* GLX.VTM\]F]B] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]],,$KI GHQQS'VU\]FMDHUM]/] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]WW$W* AXUUSXQ\]/RLU] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]2$K ALXQ:XQQ\]8RTDVU] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]ZZ,$ZZK AHUUSJQS X\];LVTQXN] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]K2$KK >SQQSVDN\]9S<X] ]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]]Z-2$Z-*

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