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² Examples of dependency analysis can be found in Bath, C. Richard and James, Dilmus D., “Dependency Analysis of Latin America,” Latin American Research Review 13, no. 3 (1976); 3–54Google Scholar; Fernando Henrique Cardoso, “The Consumption of Dependency Theory in the United States,” ibid. 12, no. 3 (1977): 7–24; Jackson et al., 7–28; D. C. M. Platt, “Dependency in Nineteenth-Century Latin America,” ibid. 15, no. 1 (1980): 113–30; Jones, Charles, “‘Business Imperialism’ and Argentina, 1875–1900: A Theoretical Note,” Journal of Latin American Studies 12, no. 2 (Nov. 1980): 437–44CrossRefGoogle Scholar; and Street, James H., “The Platt-Stein Controversy Over Dependency: Another View,” Latin American Research Review 16, no. 3 (1981): 173–80.Google Scholar

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⁴ Ferns, H. S., Argentina (London, 1967), 125Google Scholar. Quoted in Platt, “Dependency in Nineteenth-Century Latin America,” 120.

⁵ Street argues these two points (see esp. 178); Baklanoff, Eric N., “Latin American Economic History: Economic vs. Cultural Interpretations,” Latin American Research Review 16, no. 3 (1981): 245–49.Google Scholar

⁶ For example, see Randall, Laura, A Comparative Economic History of Latin America 1500–1914, vol. 2, Argentina (Ann Arbor, 1977), chap. 7, 29–164Google Scholar; Guy, Donna J., Argentine Sugar Politics (Tempe, 1980).Google Scholar

⁷ Cardoso, 11.

⁸ Kozolchyk, Boris, “Law and the Credit Structure in Latin America,” Virginia Journal of International Late 7, no. 2 (April 1967): 1–2Google Scholar; “Fairness in Anglo and Latin American Commercial Adjudication,” Boston College International and Comparative Law Review 2, no. 2 (1979): 266–67.

⁹ Borchard, Edwin M., Guide to the Law and Legal Literature of Argentina, Brazil and Chile (Washington, 1917), 60–61, 76–78Google Scholar; business conditions in early postindependence Argentina are described in Reber, Vera Blinn, British Mercantile Houses in Buenos Aires, 1810–1880 (Cambridge, Mass., 1979), 82–109.Google Scholar

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¹¹ República Argentina, Código de Comercio, book 2, title 3, chap. 1–10.

¹² Ibid., book 2, title 3, chap. 3, sec. 2; Legón, 6–7.

¹³ República Argentina, Código de Comercio, book 2, title 3, chap. 3, clause 326.

¹⁴ Ibid., book 2, title 3, chap. 3, sec. 7, clause 365. The fact that realized capital or capital paid in usually amounted to one-quarter to one-fifth of the capital authorized for new companies before World War I made this provision extremely restrictive. Official reports of paid, as opposed to subscribed, capital for Argentine corporations between 1904 and 1913, published in the Monitor de las Sociedades Anónimas, show that the average paid-in capital for companies listed in paper pesos was 21 percent and 16 percent for gold pesos.

¹⁵ Evans, Frank, “The Evolution of the English Joint-Stock Limited Trading Company,” Columbia Law Review 8 (1908): 339–61, 461–80CrossRefGoogle Scholar; Hunt, Bishop Carleton, The Development of the English Business Corporation in England, 1800–1867 (New York, 1936, 1969), 133–39Google Scholar; Nash, Gerald D., “Government and Business: A Case Study of State Regulation of Corporate Securities, 1850–1933,” Business History Review 38 (summer 1964); 146–50CrossRefGoogle Scholar; Obregón, Toribio Esquivel, Latin American Commercial Law (New York, 1921), 189–90.Google Scholar

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²⁴ Review of the River Plate, 23 Oct. 1908, 1039.

²⁵ El País, I July 1901, 5; Review of the River Plate, 11 Oct. 1902, 622; 20 Dec. 1902, 1066. Even though revisions of the bankruptcy laws had been implemented in 1902, the business community was still dissatisfied. See Review of the River Plate, 4 Jan. 1907, 13; 22 Jan. 1909, 209; and 19 Aug. 1910, 467; El Monitor de las Sociedades Anónimas 3 (1906): 315–17; Handels Zeitung, 15 Sept. 1906, 3; Comments on Argentine Trade 8, no. 2 (Sept. 1928): 13–17, 58–64.

²⁶ El País, 21 Jan. 1905, 5; Review of the RiverPlate, 17 Jan. 1905, 10.

²⁷ South American Journal, 11 June 1898, 663; El País, 22 May 1900, 3; Review of the River Plate, 1 Aug. 1903, and 20 Oct. 1911, 1011; Argentina Commercially Considered (London, 1917), 63; Singer, B., Trade Laws of the World and Unfair Trade, vol. 11 (Chicago, 1913), 13.Google Scholar

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³⁰ Argentine Republic, Código de Comercio, amendment to book 2, title 3, chap. 1, art. 286.

³¹ Law no. 4157, Argentine Republic, Senado, 19 June 1902, 112.

³² Guy, Argentine Sugar Politics, chaps. 3, 6; Sociedad General Belga Argentina, Acta no. 43, 25 May 1900, 83; Acta no. 44, 22 June 1900, 86, Casa Tornquist Archives.

³³ “Cuadro demonstrative de las hipotecas bajo el control directo o indirecto de Ernesto Tornquist y Cía. Ltda. al 31 Die. 1914,” pp.106–7, Archivo General de la Nación (AGN), Archivo de Victorino de la Plaza, Hacienda Varios 1913–1916.

³⁴ For examples of how the Tornquist group lent money directly, see 18 Pagarés from Francisco Bustamante (sugar industrialist) to Ernesto Tornquist & Co. equaling $180,000 paper pesos, May-June 1902, Miscelánea 715, Biblioteca Tornquist; Refinería Argentina (Tornquist enterprise), Libro de Actas, Acta no. 112, 9 March 1901, 220, grants mortgages on Germania Sugar Factory; ibid.,13 Dec. 1913, Acta no. 378, Contrato de prenda. Ingenio San Miguel.

³⁵ El Monitor de las Sociedades Anónimas 3 (1906): 45–51. Berduc, Enrique, Ernesto Tornquist ir Co. Limitada, 1874–1974 (Buenos Aires, 1924), 28–29Google Scholar, lists some of the companies in which Tornquist was a sleeping partner; he also cites all those who were sleeping partners in the Tornquist Company until 1906 (15–16). Ernesto Tornquist & Co., Ltda., Sociedad Anonima Financiera Comercial Libro de Sesiones del Directorio, Actas no. 2–3, 7 Jan. 1907, 6; 15 May 1907, 7, Casa Tornquist Archives.

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⁴⁴ Escritura 808, 25 Oct. 1888, pp. 1655–57, Registro 3. Protocolos 1888, Escribano Felix M. Rodríguez, Archivo Histórico de Córdoba.

⁴⁵ Escritura 349, 3 Dec. 1893, pp. 877–80, Registro 3. Protocolos, 1893, Escribano Felix M. Rodríguez, Archivo Histórico de Córdoba. Sometime between 1888 and 1893, Orfilas share had been eliminated from the partnership.

⁴⁶ Donato Carried, “La fábrica de calzado Grimoldí. Su origen y trayectoría desde el año 1895 hasta el ańo de 1952,” c. 1968, unpub. ms., 10–12. The Grimoldis maintained their partnership with Grisetti until 1901, when the three brothers formed their own simple partnership. “Testimonio del contrato de la sociedad Grimoldi Hermanos,” 7 May 1901, photocopy in possession of the Grimoldi family.

⁴⁷ Carrieri, 15–17; Brock, Herman G., Boots and Shoes, Leather and Supplies in Argentina, Uruguay, and Paraguay, U.S. Department of Commerce, Bureau of Foreign and Domestic Commerce, Special Agents Series No. 177 (Washington, D.C., 1919), 45, 51, 62–63Google Scholar; Pianetto, 348.

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⁵⁰ Manacorda, Telmo, La gesta callada (Biografia de una industrial (Buenos Aires, 1947)Google Scholar, passim; Protocolos 74, 1886, pp. 135–36, 21 April 1886, AGN.

⁵¹ Noel, undated pamphlet published by the Noel Co., circa1972.

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⁵⁷ Diccionario comercial e industrial de la República Argentina (Buenos Aires, 1942), 357–58.

⁵⁸ El Monitor de las Sociedades Anónimas 1 (1903): 300; ibid., 3 (1906); 118–19; Gori, Gaston, La Forestal (Buenos Aires, 1974), 49–72Google Scholar; Review of the River Plate, 23 July 1915, 213; London Times, 20 Jan. 1914, 14.

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⁶² Land prices also fell at this time. Hurley, 29; Smith, Peter H., Politics and Beef in Argentina. Patterns of Conflict and Change (New York, 1969), chap. 3, 57–81Google Scholar.

⁶³ Cámara de Diputados, Diario de Sesiones, 1911, 4:16–41.

⁶⁴ Review of the River Plate, 19 Jan. 1912, 143.

⁶⁵ El Monitor de las Sociedades Anónimas 13 (1912): 70; Review of the River Plate, 9 Feb. 1912, 343. A similar measure, evenmore favorable to foreign companies, was introduced into the Chamber of Deputies in 1910, but without success.

⁶⁶ Comments on Argentine Trade 2, no. 10 (May 1923): 15.

⁶⁷ Great Britain, Report of the British Economic Mission to Argentina, Brazil and Uruguay (London, 1930), 15.Google Scholar

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⁶⁹ Weil, Felix J., Argentine Riddle (New York, 1944), 124.Google Scholar Bankruptcy law was changed by law 11.719, sanctioned in 1933; the creation of the S.R.L. was due to the promulgation of law 11.645, October 1932.

⁷⁰ Argentine Republic, Comisión del Censo Industrial, Censo Industrial de 1935 (Buenos Aires, 1937).Google Scholar

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⁷⁴ Brock, 45.

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