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.
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