Finally received an answer from folklore dept U-Arizona, Tucson. The legend of La Llorona by Ray John de Aragon as follows Legend of a crying wandering woman popular in Spanish America. 16 cent. Almas que andan penando Souls in search of peace. Legends appear in many countries. Africa,France, Early Dutch settlements in USA, American Indian A weeping woman in search of her loved ones. Also Irish Banshee. Astecs story of Ciuacoatl Weeping goddess.would roam the streets of Tenochtitlan at night. Astec versions borrowed from the Mayas Also popular in Spain 1400's

Mexican version La Malinche an indian princess who aided Cortez in his conquest of the Astec empire and had 2 illegitimate children fathered by Cortez. spent the remainder of her life plagued by remorse over her act and denounced by Indians and Spanyards. The story became popular in New Spain [Mexico ] and was carried back to Europe. Now part of folk lore in Texas Mexico California, Spanish speaking communities. Legend now is of a poor girl and a rich man who refuses to marry her She bears 2 children out of wedlock and then kills them. May have killed them with a knife, hatchet axe or dagger or drowning them in a river . After her death her spirit is seen to rise from the grave. and wanders about searching for her children. The legend is used as a disciplinary tool. as she will come and kidnap bad children

Had to condense this from 12 pages of material, but it gives the basic story and how it evolved from the origional. The story of the indian woman and Cortez is historicaly correct.