  The results of a spectroscopic investigation of a complete sample of objects
with $K_s<20$ mag in a 2 by 7.3 arcmin field at J005325+1234 are reported.
Redshifts were successfully obtained for 163 of the 195 objects in the sample;
these redshifts lie in the range [0.173, 1.44] and have a median of 0.58
(excluding 24 Galactic stars). The redshift identifications are believed to be
almost complete for $z < 0.8$. Approximately half of the galaxies lie in five
narrow redshift features with local velocity dispersions of $ \sim 300 km/s$.
These narrow redshift ``peaks'' are primarily populated both by
absorption--line galaxies and the most luminous galaxies in the sample,
although the incidence of emission lines in the luminous galaxies increases
with redshift. The estimated dynamical masses of these redshift peaks, and the
sky distribution of the galaxies within them, appear similar to groups or poor
clusters of galaxies in the local universe at various stages of virialization.
Some groups of galaxies therefore form at epochs $z > 1.5$, and the galaxies in
such groups appear to be coeval and to show little sign of ongoing star
formation. The galaxies outside the redshift peaks are also clustered, albeit
more weakly, are less luminous and more frequently exhibit strong emission
lines. These ``isolated'' galaxies therefore appear, on average, to form stars
at later epochs than the strongly clustered galaxies. The galaxy SEDs derived
from our $UBVRIK$ photometry are also very closely correlated with the galaxy
spectral types and luminosities. These results have strong implications for the
analysis of redshift surveys at intermediate redshift.
