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Thanks, Zeb.
I too looked thru the internet... would be interested to hear Mark Adams two cents. See below link to Wiki
http://en.wikipedia.org/wiki/Cowboy_bowline
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The (now current) Wikipedia text fairly well states the case for
these two versions of the bowline. Note the vulnerability of the
"right" way to pull untied if *ring-loaded* (pulling the eye apart).
As for strength differences, that shouldn't be a concern (i.e., they
should all be amply strong, or you've seriously misjudged the load
and your rope!), but some tests have found then equal. And who
knows how the particular knots were set --one can put the tail in
a heckuvalot more places than on one side or the other of a plane,
anticipating the draw of the mainline.
In heavy trawler docklines, one can see the "correct" bowline
capsized; the "cowboy" version resists this capsizing better, too.
(And, so far as historical accuracy goes, I don't know of any sure
connection to Dutch or cowboys; "left-handed" is given in the
sense of "inferior", in Ashley.)
For added security, one can simply take the tail around the knot
body (i.e., make a loop like what the tail goes in/out of) and
bring it out a 2nd time; or make an "around the tree ..." maneuvre
around one leg of the eye (that that flows into the loop, not the
tail) and tuck it back through the central loop (putting a 3rd dia.
of material there, which nicely approximates roundness).
*kN*
[hmmm, 1st attempt has no image file ? ]-: