  The spectrum and light curve of the bright X-ray source CG X-1 in the field
of the Circinus galaxy are re-examined. Previous analyses have concluded that
the source is an accreting black hole of about 50 solar masses although it was
noted that the light curve resembles that of an AM Her system. Here we show
that the short period and an assumed main sequence companion constrain the mass
of the companion to less than one solar mass. Further a possible eclipse seen
during one of the Chandra observations and a subsequent XMM-Newton observation
constrains the mass of the compact object to less than about 60 solar masses.
If such a system lies in the Circinus galaxy, then the accreting object must
either radiate anisotropically or strongly violate the Eddington limit. Even if
the emission is beamed, then the companion star which intercepts this flux
during eclipse will be driven out of thermal equilibrium and evaporate within
about 1000 years. We find that the observations cannot rule out an AM Her
system in the Milky Way and that such a system can account for the variations
seen in the light curve.

Astrophysics