St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-15
were the glory of the Northwest and
of the country at large. LApDiause.l

or the country at large Applause.
For the Newspapers.
Frederick Drlscol was called upon to
speak for the newspapers. lie SAID the
newspapers planted themselves here
with the utmost faith in the future de-
yelopment of the Northwest. and be-
fore the New York Life made its great
investment in the Twin Cities these pa
papers, with their editors and managers,
gave their time and energy, without "a
quarter, for the development of the
country. They still believed in the con-
tinued greatness of these cities. APP
plause He expressed the opinion that
the Northwest was in its infancy; that
great and glorious future lies
beyond. In the development of
the Northwest the prosperity of these
two cities was based. He wished to en-
courage the new president of the New
York Life in the. investment made by
his company in the Northwest. He had
asked the question OF gentleman
present, who was connected with the
New York Life company, how much in
Surance was being carried by that body
of gentlemen. He replied that in his
company alone about Sl,000.000 insur-
ance was carried. That was reuIarlla-
bic instance of the confidence relied in
the New York Life Insurance company.
Applause.
Gov. McGill, who has had long per
SOnal acquaintance with Mr. Mccall.
received a call. He said Mr.. Mccall
was we'll qualified for the position of
president of the New York Life. He
was most efficient superintendent of
insurance in the state of New York, to
which position he was appointed by
President Cleveland IN the face of Tam
many opposition. Supt. Mccall re-
duced the expenses of the Office S50,00o
a. year. Gov. McGill referred to his
tenure of Office as insurance commits
Sioner OF this state. Fifteen years
ago the fire insurance in New York
and Minnesota were three times as
much as what was carried in Canada.
The last time he investigated the mat
ter he found that Minnesota alone was
carrying just twice as much as Canada.
For twenty years past the insurance
premiums paid i'll Minnesota had shown
greater increase than in any state III
the Union.
Kelly Votes Straight,
Hon. p. Ii. Kelly made a happy
speech, i'll which, referring to Gov.
Merriam, he said: 81 have been proud
Of him ever since he was boy. lie has
given the state of Minnesota all honest
government cries of Good and aD-
plauSel and no one can say that any
trust confided in William r. Merriam
has not been faithfully and honestly
administered. Loud applause. This
is the testimony of Democrat-a DEM
ocrat dyed Ii the wool, and who would
always be found voting the straight
Democratic ticket" Applause.
ID. X. Noyes, as director of the
Equitable Life of New York, also spoke.
He warmly indorSed Mr.. Mccall eX-
cellent work for The Equitable company.
The money entrusted to the New York
Life. the Equitable New York Life and
the Mutual Life of New York exceeded
the banking capital of New York. The
trust reposed i'll these in these insur-
ance companies was sacred one. MI.
NOyeS prOgnOSticated that critical times
were ahead for financial institutions,
and the policy of these big insurance
Institutions would be closely followed,
for upon their economical and business
like management their eventual
''weathering Of the storm" defended.
+. Ii. Greenleaf spoke in behalf of the
Minneapolis chamber Of commerce. He
reiterated that the Northwest was des-
tined to be the granary for the world.
and Minneapolis was the largest wheat
market of the world. Applause.
A. B. Stlckney represented the rail
road interests. He commended the in
vestmentS made by the New York Life
in st. Paul and Minneapolis. These i'll
vestmentS had, to some extent, been
criticised, but he considered it
to be unjust. They would event
ually prove TO be excellent paying
investments and, besides, he believed
it to be the true policy of a great COM
pany that receives the funds of the
whole people-the people of the whole
country-that it was not only to their
interest, but it is their duty, to distribute
their investments and give the people
who contribute toward this fund Il fair
share of collateral in these investments.
Those Present
A. j. Booth briefly spoke, and the
proceedings pleasantly terminated by
drinking the health OF President Nc
Call. The gentlemen present were:
Gov. Merriam, President j. A Mccall, C..
A. Pillsbury, g. R. Finch. P, Ii. Kelly, F.
Driscoll, j. j. Parker L. B. Elrwood, F. H.
Peavey. G. Thompson. +. Ii. Greenleaf, j. A.
Wheelock. W. IL. Eustis, W.Murphy, ". r.
Booth, L. a. Jaggdrd. 5. II. kitchel j. Ii.
Gregory Gov McGill, Ansel Oppenheim, A.
B. Sticknev, VIII Steele, j. T. Baker and r.
L. schumacher