|
egutwvWbed ea .eveSwkwywb ed Ineveliawhwb Wscaih cniawdwf wncnef
cnumuheruk
wmwtwruf egEa .evencninufcnuk cDeTimil ckilcbwp Inwkcaiv csev
Wscaih
IkwtwvWb wnwved .evea 'Waex IrwniDOa' wtwvun WscaiH umcaWA IkwtwvWb
.evea 'Waex cscnerwfercp' wtwvun Wscaih IzWyitcmia
Ehejcnebil cniaWdiawf cSwaWscaih umcaWA :IkwtWfwt egWscaih egutwvWbed
im
cniaWdiawf cSwa Wscaih IzWyitcmia ,uriaWvun iawfiLeawDnwk caerwvcnim
ikwv
IzWyitcmia ,cSwNcnufcnuk IkwawnWm .evemuv iawfiLeawDnwk urwvcnim
Ehejcnebil
umcaWA ,wmwnWviawfibil iawgutog egWdiawf urwvcnim WviawfiLeawDnwk
cSwa Wscaih
,cSwaWscaih IzWyitcmia ,cswyiv iawgumwk ivunIkWb caeaWdiawf EnEd
cSwaWscaih
egWscaih uriaWkcaiv Wscaih cSwkwlWsim .evemwk EnEhejcnEd urwvcnimea
cniawdwfim ( 10% preference
share) Wscaih IzWyitcmia 10% iawgItwmunUm
emcnok ,wmwn r100 Ikwgwa egItwmunUm egWscaih ea idwa ,wmwnWv iawfeyil
csevwmwn .eveaenEbil Wyifur caea iawgutog egWdiawf cSwrWdWscaih
ukwrwhwa
.eveaenWvutWfwt urwvcnim egWdiawf Ebil urwhwa ikea cSwncnurWdWscaih
umcaWA
.eveaenWdiawgnih csevibilun caeCcaea csevcaea urwhwa caeawb
umcaWA ,cniawdwfWvwhEd csev cnumwn egWscaih IzWyitcmia ,IkwtWfwt
caenwa
caeawb cniaWdiawf egInufcnuk cSwaWscaih IzWyitcmia cniruk eruvcSwaWscaih
egcnurWdWscaih IzWyitcmia InEbil Wdiawf cSwncnurWdWscaih umcaWa
.evemwkEbil
.eveawguhwf cSwmunid Wdiawf
iawguDOb egInufcnuk cSwncnurWdWscaih IzWyitcmia IkwtWfwt wnwvcnit
im .evemuvun cnegibil urWyitcKia egumul uTOv iawgumuvoh uDOb ,iaWmuvireviawb
.eveSwncnurWdWscaih umcaWa inwkeawmwh Inwv cnegibil wdcauh
rwCcnebiD .evearwCcnebiD Wkcaiv cninufcnuk cDeTimil ckilcbwp Inwvea
cned
cnutwa egcnutiycawr umcaWa Iaea iawgutwqIqwH .evenUn caeaWscaih
Ikwa
,udnihWviawfevcnunEb caenOl uDob cnInufcnuk .evekenOl WviawfWgwn
caeNcnufcnuk
EdctwmudiK egumunidiawdOh Wsiawf csevcnehea wtwvun cnukwkcnEb
cnunEb cnwgwn caenOl
(financial institutions) ,cnukwaWswscawaum
urwvcnim egunOl cniawdwfcaea EkeaWscaih ,wmwnejcaibilun wtwvun
wmwnejcaevun
egEa .eveaeveliawkcaiv cSwncnumcaWa uhwfcSwmulWhwb cSwkwkwtiawb
idukiduk
cSwarwCcnebiD .evea rwCcnebiD IkwDnwgcsWdurwk Eved cnutog egcaekcaeh
,cniawdwfcaea EkenOl csevcnehinehea .evenUncaeawb egWdiawf Inebil
,cswyiviawgumwkIv caeaWdiawf cSwNcnufcnuk .evekeTcserwTcnia WvcnegiLeawDnwk
Wrubnwa cnulwa rwCcnebiD iawgcaetogumcaWa .eveaemcswyiv iawgumwkIvun
iawgItwmunUm egEa ,(redemption
date) caehwvud EnWncnwg cSwNcnufcnuk
Wrubnwa iawgEret egcaetwdcaum ikwv ,Iaim IkwawnWm .eveaevoa iawfiveyil
,cniawdwfcaea iaWarwCcnebiD ,urwhwfcaeawb) .evemwkcaenOl Egen
cSwmukcaed
Iaim csevwmwn .eveaenWfenwg Wrubnwa caekwtWscaih ,cnutWrwf egInufcnuk
(.evenUn caemwk umcaWa
egukwtumuawq .eveaITiruyikes Wkcaiv cnutWrwf egurWkurws Inwvea
cned
Wsiawf cniawdwfim cSwkwtuAUrcxwm iteDob ikeaikea Wgcnih cnukwturWkurws
,IkwtWfwt uDnwgiawm egITiruyikes iaWa rwCcnebiD .evekemwk umcaWA
IkwmudOh
czITiruyikes ,iawfev iawgumwk cnukwtinufcnuk wlcaimwa Inwkcaiv
rwCcnebiD
Inebil csev cSwaITiruyikes .evemwkWv iawgumwk cnurWkurws Inwkcaiv
.evekeTcserwTcnia WvcnegiLeawDnwk
"Wscaih" inwkea wmwh iten caemurukcnWywb caetwvWb ikwv
iawgumuyil im
WvulimWx iawgEa caetwvWb iawhiruh wyidevcsia InWv iawfcSokcnunEb
cswbim
.evencnutog
:cnuvcnunEb cSwkwrWzWb Wscaih
Ikwywbcaea .evencnuhIm egcaetwvWb ed IneLuairid csev iawgcaeawmwtujum
emcnok
iawfignEn caetog EnWdOh Wdiawf urutia cniaWsiawfea ,emeruh Wsiawf
iawgutwa
,iaWkwtctogEnWrukudWjIa uawa ,Ikwywb caenwa .evekeywb Ebit iawfirekun
wtwvun
iawgulWyiK cawtctog EnWdcawfua itekwt ikeaikea iruhWdiawf cSwtwycainWscnia
wmwtwruf emcnea .evencnuhIm cten caeaWsiawf EnWruk cnwkea ,emeruh
cSwnWmwz iSef cnwdcawfua inufcnuk cnegiawkcaiv Wscaih iawgutWlivisErignia
.eveaevwhEd cnwkim csev cnumulWncsiv
wmwtwruf cSwawmwh iaWkwtumuawq egudcnih urcHwb cnuhIm egcnisErignia
cnuhImea iawkwTcSwmwkea .evencnugwmuDnwk ,iawgumwk irWfwyiv ISef
cnwncnwa
caeNcnufcnuk iawgumwn eg 'inufcnuk WyiDcnia cTcsIa cxiTircb' Inwv
cnegebit iawgInwyih egInufcnuk ea IkwaUFuawm egcnemuDnwguLwa .eveawfWdcawfua
inufcnuk ea .evenUn caeDnwgiLuk IrWmcAitcsia igcnih cnIsErignia
.evetog iawa cnegidefua
egumurukurutwd ,iawdOh Wdum WvcnunEb ,iawdcawfua caeNcnufcnuk
wyib wdwfea
idnwscaum idwa csev cSwkwrWkurws isErignia Ikwmuscaejwmwh cawtcawtcnwk
cnuhIm wnig .eveaivun caeawgumwk caemwk urwvEveruk cswyiv cSwkwdurwf
emcnea
(Joint Stock Companies)ulWyiK
egumuruk irWfwyiv cnegevireviawb
.eveawgurwvcswvud im Iawyid cnegevumcaWa iawgEret egcnIsErignia
cSwncnumcaWA ,Wsiawf WvcnunEb cSwmugcnih inufcnuk uDob im ,cnumwkcnehea
emcnea iawguKIrWt isErignia ,cnutogea .eveaidOh cnegiawkcaiv Wscaih
caeNcnufcnuk caea cniaeret egInufcnuk ed ikcaiv Wscaih cSwncnumcaWA
wmwtwruf
.eveaejcawgnih cneginemih inufcnuk im iawgumwk
caerwviaoa egumukcaivenwg Wscaih iawgEret egcnisErignia ukeaiaWaea
iawgutWlivisErignia uriaiawa urwhwa wnwv 1695 cnutogea .eveaifcnegiawgnih
ukeaiaWaea wmwh idwa .eveaiv iawgumwkiruh inufcnuk 142 WviawfWkcaivWscaih
iawgumukcaiv enwg Wscaih ,iaWncnuhImWkcaiv enwg Wscaih ,iaWncnurWdWscaih
cawtcnuyik eyil ,evulwdcawb iaWkwkenwa ukwkea cnuhImELuk iawb
egcnirevudem
egunwDcnwl cnumwkcnehea .evenuhej cnunEb egcaenwt EnWTcawhwlwb
cnwDcnwl cSwkwtog egiawdWa cSwrwv iawgEret egcaelwTohiaws ed iruhiawgEretudem
.eveawyid cnegiSef (urWzWb Wscaih unwDcnwl) cjcnECcsckea ckoTcs
:uruawd egurWzWb Wscaih egunWmwzim
cSwkwywb ed uruawd egcaerWzWb Wscaih cnutwvWb egutwkcawswm Wruk
-:Iaea .eveaenWdiveliawhwb
cTekrWm Irwmiawrcp -1
cTekrWm IrwDcnwkes -2
cSwkwtinufcnuk WvcnunEb cnwkcaiv Wscaih cSwrwhwf wmwtwruf IkwTekWm
Irwmiawrcp
iawgiawbim .eveawb Wvcnegivelukea cSwCcawm egukwtctwmudih Ed cnurWzWb
Wscaih
,cnuSwd egcaemuv cswbcaea Evev ukeaiaWkwkwt ckcnEb cTcnemcTcsevcnia
Inenemih
.evemunid iawkcaiv cawtWscaih egInufcnuk WvcnunEb cnwkcaiv Wscaih
cSwlwa
cSwlwa iawgurWzWb egWscaih ,cnumudefua caerWzWb Wscaih ihevid
cSwkwlWsim
cSwrwhwf wmwtwruf cnukwtinufcnuk (Edea cnWvireviawb) Edea cnwrukuTcsil
urWzWb Wscaih ,utwycailUAcswm egumukcaiv itekwtea ,uriaWkcaiv
Wscaih
irukulWvwh .eveaenWdiverukulWvwh iaWkwkcnEb cTcnemcTcsevcnia ,cSokirevudem
egumwk EnWncnwg cawtWscaih iruhikivun ,uriaEmin Wkcaiv Wscaih
,cnukcnEb
(under writnig)
cniTiawr wDcnwa cSwkwmuvcswbcaea wdwfim .eveaed cnwkcnIqwy
.eveaeyik evea
(second hand shares)
Wscaih WviawfWkcaiv urwhwfcaea IkwTekWm IrwDcnwkes
cTekWm Inenemih iawgiawb im .eveawb Wviawfiveruk wscaWK cSwmukcaiv
enwg
cnwkcaiv enwg Wscaih ,(cnirevudem)iaWncnurwkOrcb ckoTcs ,iaWncnurwkEm
egukwtctWlwmWAum Wgnih iawgurWzWb Wscaih .evencnuhIm egcnumcaWa
WvcnunEb
.evekwtctWlwmWAum Wgnih iawgcTekWm IrwDcnwkes IkwywbuDob
ujWfujWa egurWzWb Wscaih ,(IkwncnurwkOrcb ckoTcs) wtwvun Ikwncnirevudem
.evekeywb Wviawfibil wdcauh egumuruk irWfwyiv egWscaih ,wncnwd
cSwLwgnwr
Wscaih iaWncnukwtcsIfoa egurWkurws EhebWmwk IkwkwtctWkwrwh egcnuhImiawbim
WTcawhwlwb cnuSwd egcaemWzin InUnWq wmwhiruf cSwrwv ,cnutWrwf
egurWzWb
WvcnunEb cnwkcaiv enwg Wscaih Ikwtwkcawswm egcnuhImiawbim Inehea
.evekemwk
,ukeaiaWaea wmwh idwa .evemurukWdwa uruawd egcaeairevudem iawgudem
egcnumcaWA
utWmUluAwm cSwncnumcaWA (speculate)cSokWfwl
cSwyiruk cSwtugwa egWscaih
cnuhImea iawgutwkcawswm ea .eveketwkcawswm egcnuhIm im IkwmunidcSokurOf
utWmUluAwm eruh evwrub cSwkwtWrwf ikwv wtwvun wmwnWv iawgumwk
WrukwDuk Wvurwf
,evuDob wbWl iaWaWdiawf cSwkwywb ikwv iawgurWzWb Wscaih ,wmwnEdcSokurOf
Iaim .evekwmwk EnWdun evun IkwmuTcaev cawtugwa egWscaih egcaeawbcaenwa
uLwgnwrun egumwkea cSwdWBitcqia egumuawq iLum iaWSwncnumcaWA ,iaWSwkwtirWfwyiv
.evekemwk EnWrOf urwswa
cniawdwf ivencned evcsia (cnurwkOrcb ckoTcs)Ikwncnirevudem caeawb
Wscaih inwkeawmwh ,Idun caeaWrwvcxwm csevcaea cnutogEheb iaWmutwgWscaih
enwg inwkeawmwh cSwncnuhIm wdwfim .evencnuhIm Ediawkcaiv wtwvun
Idenwg
Ebil cSwncnirevudem .eveawyik Encnirevudem (execution
only) Ediawkcaiv
If Egen cnutwa egWhImwncnwg iaWaWhIm Wkcaiv Wscaih IkwaInwdcmWa
,If Wgwn cnirevudem Ediawkcaivenwg inwkeawmwh .evekea (commission)
eruvcSwaIf Wgwn cnirevudem Ediawkcaiv enwg Wscaih ukeaiaWtWmUluAwm
.eveaenWvwDuk
cnuhImea .evekeywb Wkcaiv enwg Wscaih cSwawlcaimwa IkwncnurwkEm
cTekWm
cnumurea ugwa egEa .eveaenwg Wscaih uriawncnuh iawfevcSwd ugwa
egWscaih
im .eveaWdiawf Ebil cSwaWnEa IkwtWfwt egugwa iawgutwlWh ed .eveawlWkcaiv
cSwrwv utWmUluAwm egumwkcnwk egurWzWb egWscaih csev IkwncnuhImiawb
,iaWrwvcnim EnElufua ugwa egWscaih iawgIlwa egutWmUluawm ea ,WdOh
cSwawmwhiruf
ikeaikea ELugcneg iawgumurukWfwl .evekeawb WrukWfwl urwvcnim EnETcaev
.eveaev iawfived cnwn ikeaikea cSwncnurwkEm cTekWm ,cnubwbws egumuncsiv
csevudwbwa IkwncnuhIm Wviawfivedcnwn cnumwn (Bear)
eguLOdirWs cSwkwlWsim
cniawdwfea wmwh .evekeawb ELugcneg cnuncsiv egumwk InwdcSwSwd
ugwa egWscaih
cSwhwvwa cswvwa IkwncnuhIm Wviawfived cnwn cnumwn (Stag)
egWlcauf inIfuLwd
cnuhIm Wviawfivedcnwn cnumwn (Bull)
eguletig .evekeawb Wkcaiv enwgWscaih
.eveSwmwk EnWdcnumelufua cawtugwa egWscaih Inwruk udImcaua
Inwncnwa caekwtctwmudiK caekwtea urutia csevidwa cnurWzWb egWscaih
ckeDcsen egWkiremea WvcSwmwk cawturWzWb egWscaih iteDob egEyinud
.evencnumed
ckoTcs cnwDcnwl egutWlivisErignia ,wdwf iaekckin egunWpwj ,wdwf
Wgcnih cnulUsuairWfwyiv ,Ikwkwt urWzWb egWscaih iawhiruh wdwf
cjcnECcsckea
cDeTimil ckilcbwp iawgutWz egEa csev IkwkwturWzWb ea IkwawnWm
.evenwtcnwt
wnig ,iaWncnirevudem wnig iawgcaerWzWb ea cnumwkcnehea .evekekwt
inufcnuk
iawgudwBcqwm egumuvuruk ireviawb cawtckcnEb cTcnemcTcsevcnia ,iaWkwtinufcnuk
egEa .eveaedcnumwruk idwa .eveaev iawfcSokcfwrWAwt caekwtctwmudiK
wnig caekwtea
cnwt EnWvcaWb Wsclwj umcaWA ,iaWmunidiawhwb Wdiawf cSwncnurWdWscaih
iawgEret
WzWt udwbwa iaWdwbwa cSokirevudem IvIT iaWTenrwTcnia ,iaWmunid
iawscawjwmwh
.eveaev cawtctwmcdiK wdwf cnunidcSokurOf utWmUluAwm
iawgurWzWb Wscaih" Iaea uriaEd caefwrWAwt egcaerWzWb Wscaih
cnumwkcnehea
,iaWaWscaih egukwtinufcnuk ea ,cnukwtinufcnuk Wviawfibil wdcauh
egumuvireviawb
irWfwyiv iawgurWzWb Wscaih ,iaWSwmukcaiv csITiruyikes iaWa rwCcnebiD
umcaWa ,iaWncnurwkEm cTekWm ,iaWncnirevudem Wviawfibil wdcauh
egumuruk
Wviawfidefua cnutog egumunidcSokihwfugwm cSwmurukirWfwyiv cSwncnutiycawr
Wscaih egukwtinufcnuk Edefua cSwlwa ,cnurutia egEa .evekeaWswscawaum
WvcnunEb cnwncnwg Wscaih Wrubnwa ,iaWmunidiawhwb Wdiawf ,iaWmunidiawkcaiv
cnirevirWfwyiv cSwhwvud cnuhwvud ,iaWmunidcaokihwfugwm egumwkea
cSwkwtinufcnuk
"caenwt EdcSokurOf cSwkwtctWrwf WvcnunEb ea ,cSokcaea utWmUluAwm
WvcnunEb
.eveaenWdivenub iawgumwk
uruawd egurWzWb Wscaih iawgudWBitcqia egcaemuawq
Wsiawf iawgEret egcaemuawq IkwmunEb caea umcaihum emcnea egurWzWb
Wscaih
Wrukunuruawd cSwtwa egcaekenwa cnutwa egcaekea Wsiawf .evemuvuruk
uruawd
.evekedWBitcqia ,uDwm ilevud ,cswl cnureairuk IkwdWBitcqia emcnok
iaWSwmuvureairuk cnwkiretcnudcaefua egcaemuawq ,urWzWb egWscaih
,cnumwkcnehea
umcaiHum csevcSwrwv Ikwruawd EdeLuk cSwmuvurukuLwgnwr urwvcnef
egumuLuairid
.evekemwk
egudWBitcqia egcaemuawq ea Ikwkwtugwa egurWzWb Wscaih egcaemuawq
iawgunWmwzim
egukwtugwa egurWzWb Wscaih csev ukwhwvud emcnok .eveDnwgOl WlwbunUm
iawgcaetog wlcmuj Inediawvukcawd cniaea .eveaeveruk uAiaWx ubWsihcsWfwt
wtwvun ,cnea.cnea.Is .evetog cten iruh cawtugwa egurWzWb Wscaih
cawtea ukwlWvud ,emcSwkwLufEb emcnok wmwh Wvwlcawb IvIT grwbcscmUlcb
csckeDcnia Ediawvugcnwa utwlWH egurWzWb Wscaih egukwtumuawq ikeaikea
ukwrwhwf
wncnwv cSwmuawq ,wmwnInwv iawgumwkWd cSwSwd urWzWb Wscaih .eveaenWd
cneginef
wncnwv cSwmuawq wmwnElufua cSwtugwa egurWzWb Wscaih .eveaenWvudwm
Wsiawf
,cnumwkcnehea .eveaenWd cnegevivulwh ilevud IdWBitcqia ,evurutia
Wsiawf
WvWsOrwb cSwCcawm egEa udWBitcqia egumuawq ea Ikwkwtugwa egurWzWb
Wscaih
.everwdcBwm caea
cSwncnutiycawr Whiruh Wdiawf IqIqwH egumureairuk IdWBitcqia egcaemuawq
uDob IdWBitcqia WvWmid csev iawgcaemuawq Whiruh Iaea cnubilun
cSwawmwhiruf
.(Unequal distribution
of income and wealth) .evekeawlwscawm
Whiruh egumuawq ,iawgumureairuk egumuawq cnubwbws egurWzWb Wscaih
caeaWscaih Inehea .eveaed cnegibil utwBuruf egumuvireviawb cSwncnutiycawr
umcaWa caeaWscaih WdIs egWdiawf Ebil cSwkwtinufcnuk ,cnubwbws
egumutwg
.eveaedcnegibil cSwncnutiycawr
wncnwv cSwmuawq cnubwbws egumwkirevurutwf ,uriaWlWncsiv cSwaejcaWr
ihevid
Ebilun cSwncnuhIm wnig egcnutiycawr umcaWA caerwvcnim WvcnegISwkea
egInwdcmWa
,cnumudefua caerWzWb egWscaih egEjcaWr .evekeawkwhWv Ivcswvud
IkwawkwhWv
cnurWzWb egWscaih ,Wscaih egukwtinufcnuk WviretctWkwrwh iawgumwkirevurutwf
.eveaenWdibil caelcawh cSwawlwscawm im ,wmwnwncnuh cnebil
cniruk egumuruk cTcsevcnia Wsiawf iawgurWzWb
Wscaih
:cawtcawtcnwkcaeawb Ehej cnwncsiv
csev IkwairWfwyiv egWscaih cniawdwfcaea EkeairWfwyiv csev cnehinehea
-1
iawgIrWfwyiv Wscaih IkwawnWm .evekemwk Wviawfivelukea (risk)
Wkcawrun iawgEa
.evekemwk WvcnegISwkea Ikwmuhej cnWlitwmiruk iaWmulcaeg csev
cnehea ,cnIruk egumukcaiv Wscaih iawgurWzWb egWscaih cnukwNcnufcnuk
-2
(take over) cnwkEnWfWgcnih
urWb cSwCcawm egcnemWmit cnukwNcnufcnuk
caea Inwv iawfived wdcauh cSwkwNcnufcnuk cSwkwlWsim .eveaenWv
cnwncsiv
egWscaih Inwv iawfWkcaiv Wscaih cninufcnuk ea .eveSwmukcaiv Wscaih
wkcawl
irevwdWv egInufcnuk ea .eveSwtogEvenwg emcSwkwhIm emcnok cSokirevudem
urWzWb
cnegiSef cnuhwvud ikcaiv Wscaih cnInufcnuk .eveaev caeNcnufcnuk
cnehea
uawa ,uriaIvcswvud Whcaerwhwa .evencnumwncnwg cawtWscaih Iawyidcneg
cnuhImea
egcnuhImea Ikwncnirev egWscaih wtcaws cnia csWscnwf egInufcnuk
egInufcnuk ikcaiv Wscaih cSwlwa IkwawnWm .eveaejcaev iawgumwkcnIrevwdWv
!eveawgutwa egInufcnuk irevwdWv egcnuhImiawbea Inwvea urWhim clOrcTcnok
Wgnihun rwvOa ckET caekwtea iawgukwturWzWb egWscaih urUhcxwm egEyinud
.eveaedun caehwvud emcnea
egukwtWXidWh Wgnih iawgukwtuLokcnwk ikea egEyinud IkwrWzWb Wscaih
-3
.eveaehejcnwTcawhwb iawgunWdnwh cnwkcaenwt Wruk cniawhEswf cSwrwv
urwswa
Wscaih Whiruh egEyinud ,uhwf cSwaWXidWH 11 urwbcmeTcpes cSwkwlWsim
egcaeawbcawtea Wkcaivenwg Wscaih .eveawyid "cSwyiDwa"
caekwturWzWb
iawgukwtuLokcnwk egEyinud WmIv .eveawyid iten caetog EnWrukitcaum
wnWrufuDnwb
Wncsivun cSokcnuf udemiaWyea ,cSokcaea cawturwbwK egukwtcawtcnwk
Wgnih
.evetWg cSwrwv cnubil caemulcaeg cnurWzWb egWscaih cSwkwhIm
?cSwCcawm egcaekwtcawtcnwk cnok InwviawfevWnib IbWyimWk egcaerWzWb
WWscaih
WrukWdwa caeruawd umcaiHum iawgumureairuk egcaemuawq IkwrWzWb
egWscaih
iawgumureairuk ea ,cSokivulwh ilevud IdWBitcqia .evenIqwy cnwkcaeaWswscawaum
caea umcaihum emcnea egurWzWb egWscaih Ikwmuvurukireviawb cnudurwf
Whiruh
iawgutog wmwhiruf emcnea egEa Wdiawf egcaerWzWb Wscaih csevwmwn
.evemunEb
caeawb wdwfim .eveaehej cnWvwmwhiruf caekwt uturwx iawkwTcSwmudOh
:iawgEret egukwtuturwx
Wgnih iawgEyinud .eveaehejcnWv cSwkwywb iretcnulEh Ikwncnutiycawr
umcaWa -1
.eveaehejcnWv cSwkwywb Wncsiv uLokim iaWLokea egukwtcnwk
egukwtinufcnuk .eveaehejcnWv cSwkwywb iretctWkwrwH IkwncnirevirWfwyiv
-2
egumutwgened cSwtwnWm egEa iaWmuTcaeheleb ubWsih) cmwTcsis gcniTcnuawkea
.eveaehej cnwrukuLwgnwr (iawb
cnwrukuLwgnwr urwvcnef cSokurutia cnurukumcaWa utWmUluAwm cnukwtinufcnuk
-3
.eveaehej
iawgurWzWb ea iawkwTcSwmugcnih caerWzWb Wscaih iawgutog wmwhiruf
-4
caekwtcnutiycawr EnWruk cTcsevcnia .eveaevcnunEb caekwtinufcnuk
EnWvireviawb
.eveaevcnunEb
egEa ,Ebil caeaWdiawf ,Wgcnih cnulUsua irWfwyiv IkwrWzWb egWscaih
-5
.eveaehejcnWv cSwkwnwt ,Wv caeaWdiawf cSwmuawq cnubwbws
.eveaevcnunEb ukwywb ulibWq cSwmwk ,enWruk ctwkcawswm iawgunwt
-6
cSwkwyiruk caerWzWb egWscaih iten cnuhIm wdwfcnurwkEm cTekWm ,iaWncnirevudem
.eveaenWdun
cnwruk wmwhiruf cnugcnih egunwt cnuSwd egcaekwtunUnWq iaWkwkwt
udiawvwq -7
ikwv IkwrWzWb egWscaih cniawdwf unuvencned csevcnIruk wmwncnUn
.eveaehej
.eveaenWdiawgnih cnegev iawgumwkcaenwt egcaeawb
wbea cnumwvwmwh cawtuturwx im cnuDwmuDwm csev iawgurWzWb egWscaih
ihevid
IdWBitcqia IkwrWzWb egWscaih ihevid iawgutogEveruk udImcaua .eveaed
EdcSokurOf iawgutog wmwhiruf emcnea egEa cSwncnutiycawr Wdiawf
egumureairuk
ihevid cnubwbws egurWzWb ea idwa .eveaenWdcnegev iawgumwk caeaWswscawaum
.eveaenWd cnegevurutia cnwkiretcnuduf egcnudurwf ,evWLuf cawtirWfwyiv
|
