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Along a sufficiently smooth stationary curve, differentiation and the Euler-Lagrange equation give the Beltrami identity:The cancellation uses the absence of explicit $x$ dependence.

For an axisymmetric surface of revolution, its area is $I[y]=2\pi {\int }_{-l}^{l}y\sqrt{1+y^{\prime 2}}dx$. A smooth positive-radius minimizer is stationary, so the Beltrami identity, with the constant factor omitted, givesEquivalently the Euler-Lagrange equation gives $y{y}^{\prime \prime }=1+y^{\prime 2}$, whence $y^{\prime \prime }=y/k^2$. The first integral selectsEqual radii at $\pm l$ imply $x_{\ast }=0$ (subtract the two cosh values), givingThis is a catenoid. The conclusion is a necessary form for a smooth connected minimizer; it does not declare every stationary catenoid a minimum.

Put $a=l/k>0$. The boundary equation is $r/l=\cosh a/a$. Its derivative is $(a\sinh a-\cosh a)/a^2$, so its unique critical point solves $a\tanh a=1$. The left side increases strictly from zero to infinity. Thus $\cosh a/a$ decreases to a unique minimum and then increases, diverging as $a\downarrow 0$ and $a\to \infty$. There are exactly two positive values of $k$ whenAt equality there is one value, and below it there is none.

To match the printed second variation convention, write $I[y+\epsilon \eta ]=I[y]+\epsilon \delta I+{\epsilon }^2{\delta }^{2}I+o({\epsilon }^2)$; its ${\delta }^{2}I$ is the quadratic coefficient, half the second derivative with respect to $\epsilon$. Expanding the area integrand givesOn the catenoid these coefficients are $k{\mathrm{sech}}^2(x/k)$ and $2\tanh (x/k)$. Integrate the mixed term by parts; the boundary term is zero because $\eta (\pm l)=0$. Since $(\tanh (x/k){)}^{\prime }={\mathrm{sech}}^2(x/k)/k$, this yieldsThis is the axisymmetric second variation of a catenoid, with the explicitly stated quadratic-coefficient convention.