Fe, and other parties, lasting for more
than twenty-five years. The area in question lay to the West of the Rio
Salado, and, at the time when this Company was formed, was supposed to
be included in the Province of Santa Fe. Soon afterwards the Province of
Santiago del Estero put forward a claim to the lands on the ground that
the boundaries of that Province extended eastwards to the Rio Salado,
and it therefore disputed the right of the Province of Santa Fe to sell
the lands to Messrs. Murrieta & Co. in 1882.

By an Agreement with the Government of the Province of Santa Fe, the
Santa Fe Land Company took proceedings in the Supreme Courts of the
Province to establish its rights to the land in dispute on the
understanding that if the Company failed to establish its claim, the
Government of the Province of Santa Fe would indemnify it for its loss.
In the result the Company was evicted from the lands, and entered into
negotiations with the Government of the Province of Santa Fe for
indemnification. These negotiations went on for some years without
coming to any practical conclusion, and at last the Company commenced a
lawsuit against the Province and won it. After further delays and
negotiations the Government agreed to issue bonds in respect of the
Company's claim, and, in July, 1909, the Company agreed to accept
$3,212,000 paper Bonds of the Province, carrying interest at 3-1/2 per
cent., with an amortisation of 1/2 per cent., the coupons being
available for payment of land tax. The Government further undertook to
ratify the original titles of the Company, and to make a survey at the
joint expense of both parties, for the purpose of ascertaining the exact
area comprised in the original transfer. Any lands found to be in excess
were to be paid for by the Company to the Government at the rate of
$13.50, paper, per hectarea (about 8s. an acre). The price of such
excess lands was to be recouped by the Government from the Bonds issued
to the Company, and the Government retained $712,000 Bonds for this
purpose, pending the result of the survey.

[Illustration: _Cattle Train on Central Argentine Railway, bringing
Cattle to Barrancosa._]

RAILWAY COMMUNICATION.

At the time of the formation of the Company, the nearest railway was
that belonging to the Central Argentine Railway, and the nearest
railway station was Rosario, but some years later, the lines now
belonging to the French Railway Company of the Province of Santa Fe