The sun., 1892-02-13
MCALL FORMALLY CHOSEN.
no BEGry TO-DAY HIS WORK As PRES
rpEyT OF THE NEW FORK LIE

fChaases IN Method seen Advisable ne
$,l Not Hesitate 10 Mako Them-Hish
Praise for the New President iron or.
seers or Other Compsaies.
Tho trustees OF the New York Life Insurance
0ompany formally carried out their secret no.
eon Of Thursday By electing John A. Mccall to
the Presidency Of the company at their ad-
Iourned meeting. held at noon yesterday. The
rssignations Of Trustees Rufus W. Weeks.
Robert D, Collins. and Edward Martin were
handed In in consequence Of the recent bylaw
.dopted that no salarled officers Of tho COM
sany should sit in the Board OF Trustees.
Ex Secretary OF the Treasury Charles s.
Yairchild. Woodbury. Langdon. L d. Ran
Solph, and ex-Secretary Of tho Navy William
d whitney were nominated to flll the vacan-
cIes in tho Board. These nominations must
Ne over until the next stated meeting.
The trustees gathered around MIR. Mccall.
Who was escorted by ex-President Beers, and
congratulated him. The new President and
the trustees then went UP stairs and inter-
runted the meeting Of the general agents
assembled on tho third floor. Mr. Mccall was
cordially received. Mr.. Mccall spoke at the
reception as follows:
.MrMpEns OF THE BOARD OF TRUSTEES.
AGENTS. AND MANAGERS HERE ASSEMBLED:
We are on the threshold OF q new admins
trstion. That fact does not necessarily imply
great and radical changes in the workings OF
this magnificent company. but whenever It
shall appear to me. intrusted with the man
agement and responsible for its results. that
II is wise to depart from the road over
which we havo been travelling. I will not be
slow to ask your cooperation in making new
oath. This Is neither the time nor place for
references to the causes that make me your
presiding officer. would speak Of the future.
I'VE are called together as the representa-
lives Of purely mutual company. and in that
eopacity We cannot be personal except as u
directing force. We are bound in honor to
exert ourselves solely and absolutely in the
interests Of tho policy holders. Lot there be
no mistake about that conception OF our duty.
soiar as in me lies that shall be the controlling
motive Of my administration. lam conscious
OF the need OF your support It may be that In
the recommendations that I shall from time to
time present for your consideration discus
sion OF them will show that some are
crude or unwise to adopt In such
eases. few. trust, in number. you will
never find ME so set In my opinion that
cannot be convinced that my Judgment is
not always the best. On the other hand IL
there Is any Of our number that believes that
there s no opportunity for changes and i'm
provements. they owe It to the others that
they shall not remain to hamper and retard
our work. am sincerely OF tho opinion that
Twill have the support and assistance OF each
and every trustee. II not. I will not hesitate
10 make the Issue. stand hero unpledged to
any man or set OF men in the slightest particu-
lar. No person, high or low. has exacted. nor
would he receive it II asked. any pledge Of
place. power. or emolument under my admin
lstration.
80 much for my platform. We are mem
bers Of q vast organization. the power for good
in which is not solely in its great amount OF
resources or its surplus Of fifteen millions OF
dollars Since its organization In 1S45. It has
dispersed to policy holders about $160.O0O.-
oO0 No mind. however gigantic. can conceive
Or fancy the good that has been accomplished
by tho payment Of that amount. We have a
membership Of 175.0O0 scattered all over the
world. To them this company Is as important
IN the consideration OF protection to their
families as Is their own ability to shield them
in time Of need 10 It to be wondered at,
Shen. that there are watchful eyes on our
guardianship. or that q failure to meet to the
BE- yssd H. 5ye
diversion from s that rule viii iI prevail. '.'
chat We hold in trust refer s' to the agents @ and
m.naTsFs Who are oiRsd IN ths meeting a.
above all others. are yitally Interested II, hon
ct management To me it IL marvellous.
through which the, company has passed that
osin sss t n nsR 30
were DEVOTED perforce to a defence of the COM
RanH IN No other sot Of men would be equal to
X Ihey have the admiration and respect OF
the profession eyeryWhpre.
Nay. more than that We must show our
appreciation OF it in no uncertain way. I
propose; and would ask you to support me at
the earliest possible moment In its adoption.
% select from their number rs one Of the Vice.
tdar. tsplcn.ous among them all for ability and in
tegrty In whose territory during 1891 his
sESe3%ey S%GG placed on the compapy's rocks s4e..
pot enttaa R'f to By his lis Eork and eon oae
from US Of changes in our oliiciai staff will
tHso tGHho hear The Heat and sustain tho tTsls oi
iins Of a6la Chaicas99 9 rs q ,yIiee-PresIdent:
conarStmll; Word; and ! will close. In answering q
sYIsr!ntendsnt Of the insugapce @ e bepar.ment .%
g. Sii thls State the warning OF Burke in his re-
mS neeunns % on thS French revolution required to
s IONS possessing any portion OF power ought to
Sss Ss strongly tnngl and awtally impressed with an
Author and md Founder q y soeety sns 4gc
MI: Beers responded briefly. and several Of
Sne trustees and agents spoke. Mr.. Mccall
Spsn spent few minutes at his new desk looking
70 work to-day Among those who sent tele-
rams OF congratulations to Mr. Mccall yes
sesaay were q. S. Merrill. Insurance Commits
slonsr OF Massachusetts,: John 7. Hollings-
EEorth. Insurance Commissioner OF Texas. and
S0mmmlssioner James +. Pierce Of Albany
tne news OF Mr. McCall's election was the
suDlect 9t many comments among ins surance
gen. RPen. Mr. Sheppard Homans. President OF the
sIfpSlaent Savings Life Assurance Company
CaIrst CaIT 70 q PUN reporter on hearing OF Mr.. Mo-
.h ne Is the best equipped insurance man In
sne sn5 country He bears n splendid reputation.
ua M,s election was confidently expected. In
~ is ol,hlon he Is the best man possible for the
Mr.. Duer OF the Mutual Life insurance Com.
ktes new President, Mr.. McCaIls name"
It,,aa " saald. is guarantee that the business
VII pc managed In the best manner possible" !"
Hnnd5e eos onlces OF tho Equitable President II. b.
Sass Sas Tas was discussing Mr.. McCalrs election
"mmen NE BUN reporter called.
en- thoroughly endorse Mr.. Mccall" he said
.nmai "a" ~ splendidly equipped insurance man
Siaa Siia tne man TOR tho place. He Is fully cnpa-
W OF managing the affairs OF the New York
sn sIie well The effect OF his election in insur-
egs fnee circles will be good. as every one who
ntexrsthyI hIa ara 6as the highest CONFIDENCE in his