Daily American organ., 1856-09-02

FaimeTS COOK, N Co., OF san FRANCISCO.
We have already alluded to the failure Of this
house to pay the California interest due on the
lst of July. We now learn from the California
papers that their own private drafts had come back
from New York protested for non payment on the
same day, TO the amount of $4,000. The same
papers state that the house is in state of insol-
vency, a. call loudly for investigation into its
proceedings by the Vigilance Committee. letter
from California gentleman, dated New York,
July 5th, is published in the San Francisco
Globe Of July S0th. The writer, after stating that
the interest had not been paid, remarks:
went and saw Mr.. Cook, who is their agent
here. He at first denied knowing anything about
the money having been furnished the San Francis
| co house, but when told him what knew 10 be
| the facts he frankly admitted that Palmer, Cook,
| & Co. had written him all about their troubles
They could not raise the money in California, and
wrote to have it raised here. This / am satisfied
| they cannot do. Their credit here is bad enough
Without collaterals, which they have not In New
| York, they cannot raise dollar. Cook says they
have overdrawn on him, and involved him person
ally to the amount OF seventy or eighty thousand
dollars. Hyight is at Washington city, and he
has been making efforts to obtain money, but can
not do ii. 1t was said here yesterday that Colonel
| Fremont was trying to effect an arrangement TO
i pay the interest on the State Bonds, but am sat
| isfed nothing can be done. The interest on the
State Bonds due July inst, was $S2,5 ,558, and the
| interest due on the San Francisco City Bonds was
$4,000. They have all gone by default. Palmer,
Cook, l. Co. also sent forward large amount OF
drafts by the last steamer, at least forty or hfty
thousand dollars These drafts have not been paid.
| Palmer, Cook, & Co. have now done the state
of California as much harm as she should bear
| from them.
Wright, the person alluded to in the above ex-
and the chief manager for Fremont in this city.
He entertains from ten to fifteen of the friends OF
Fremont here daily, in sumptuous style, and is
generally regarded as the fnancier Of the Re-
publican" party. Yet it appears that he has been
| making efforts here to raise money to enable
Palmer, Cook, & Co. to redeem their credit
In their card in the San Francisco papers, re-
ceived by the last steamer, they frankly confess
that they atpresent unable to give an explana-
ton which will exonerate their firm from the
charge of having failed to meet its engagements.
The reason assigned for the neglect to remit the
money to New York is, that Mr. Wright advised
them that it would be altogether unnecessary
assuring them that he had means at his command
adequate to full and prompt discharge of all their
liabilities at maturity. They state that " from ad-
vices by the last steamer, we have no doubt but
before this time all our liabilities have been fully
met, and cannot but believe that Mr.. Wright will,
in the end be able to make explanations at once
satisfactory to his partners and the public"
Now, it is well known here that the interest has
not been paid, Notwithstanding the declaration Of
Mr.. Wright that he had ample means to pay it.
The question then arises, What has Mr.. Wright
done with the money, some 100000 We must
confess we feel some anxiety to know, in conse
quence of his connexion with the nomination Of
Fremont, and his present position Of keeper of the
purse for that gentleman.