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Show HICIS FflCf LOSS 0FM1LLI0FJS Investments Threatened by New Agrarian Law Enacted En-acted in Mexico. WASHINGTON, July 31. More than a thousand Americans are threatened with loss of millions of dollars in investments by a new agrarian law enacted by the congress of Sonora, Mexico, at the direct instructions of Governor Calles. Several American companies already have filed complaints with the state department de-partment against the operation of this law, and other complaints are in preparation. prepara-tion. The department is preparing representations repre-sentations to the Carranza government against putting the law into operation because be-cause of Injustices this government contends con-tends it works upon United States citizens citi-zens who ha-ve invested many millions in agricultural lands in Sonora. By the terms of the law it is provided that the state will pay for lands expropriated expro-priated with agrarian bonds issued by the state, redeemable at a time and manner man-ner to be stipulated later. The new constitution con-stitution of Mexico provides that the Mates hall Issue agrarian bonds under authority of a law that has not yet been nnactcd by the federal congress. The America ns point out in their complaints to the state department that these bonds a:v of no value and, inn smuch as the national government of Mexico has not paid the interest on Its bonds since 1013, there is no indication that the agrarian bonds will be of any value. The alternative for the American holders hold-ers of these lands is to sell them to Mexicans Mex-icans ;:.nd take pay in twenty annual installments in-stallments of Mexican money. Any dispute dis-pute is to bn left In the hands of the governor, who may act arbitrarily. Americans point out that in order to make much of the lands of Sonora productive, pro-ductive, extensive irrigation works are necessary, and many millions of dollars havd been expended there, in every instance in-stance by citizens of the United States. The complaints protest against the arbitrary ar-bitrary expropriation of these lands, which, it is contended, means practical confiscation. |