Omaha daily bee., 1892-03-17
AT THE HEAD OF MILLIONS.
President Mccall of the New York Life In
surancc Company Banquetted.

surbnCc Nonlpany bahVuetteu'
The Omaha club and several prominent
business men gave an impromptu lunch TO
President Mccall of the New York Life In
surance company at the club yesterday
afternoon. 1t was representative gathering
of business men. Thirty gentlemen were in
attendance.
DIR. Miller acted as toastmaster. In the
course OF a short speech he said he felt highly
comphmented by the presence of gathering
OF the most prominent citizens of Omaha in
pouse to his invitation. He was
agreeably surprised when he met the
new president of the New York Life Insur-
ance company TO find him a comparatively
young man, and not only surprised but de-
lighted that he was the associate and CO.
worker OF men high in position in state and
national affairs whom he (Dr. Miller) had
known ana admired. Among these were the
late secretary Of the treasury, Mr. Manning,
and number OF well known democratic
leaders. He then introduced the guest of
the evening, President John A. Mccall of
the New York Life Insurance company, who
received very hearty greeting.
MIR. McCall said he felt highly eratified a.
this warm reception and expressed himself
us being greatly pleased with what he had
seen OF Omaha aud of its pushing, energetic
business men Hereferred freely to some of the
been associated politically and socially. Re
fcrring TO his recent assumption of the office
OF president of the New York Life, he stated
that he had accepted the position entirely un-
restricted from conditions that would embar-
rass him in its general supervision. The COM
pany carried Sl20,000,OO0 in general re
sources and had a surplus of sl5,00o,
900, which would meet any require
it at all times. He had come to Chicago to
meet over 200 Of the company's agents IN the
northwest and had found the affairs of the
company in the west IN a fiourishing con-
dition. From Chicago he had gone to Min
neapols and ST. Paul to inspect personally
the buildings which the company had
erected in these cities and tho properties
upon which it had made loans. He was
gratified to find the buildings fairly occu-
pied and the investments of the company on
the whole in very satisfactory condition. He
had come to Omaha with the same object and
he would return to New York to assure the
| directors that Omaha and Nebraska promise
to be tho most rcmuEeratiyo field for the
compauy's investments
Governor James f. Boyd made few re-
| marks in the course of which he said that he
| regetted TO be called upon when gentlemen
| mucn abler than himself to speak were pres
| ent. He was very glad to see President
| Mccall in their midst and to learn that the
| investmen of the company he presided over
| had been so profitable There were many
| present who were far better conversant with
/ insurance matters tuan ue was anu nc WOulu
| therefore give way to others. In regard to
| the wealth and prosperity of Nebraska they
| had only to look around them to see on all
sides splendid opportunities for good invest
| ments.
| Hon. j. M. Woolworth congratulated Mr..
| Mccall on the honor which he bore and
| prophesled success for him In his undertak-
| ing
| Mayor Bemis said it was not necessary to
| apologize for not being publ speaker. He
| of at that they ALL kpaw IL He Glad
meet MIR. Mccall and welcome him to the
city. The mayor had lived in New York
twenty-five years ago. He was glad that
such an institution as the ,, New
| York Life company, representing millions
/ of dollars. had proftably invested part of its
| money IN Omaha. Other eastern money
which was now boarded could be profitably
| invested here. a railway to the northwest
| could be built, and an air line from Omaha to
| New York would bs good thing The COM
| panv might also build bridge across the
| Missouri river. 1t could be rented the same
as the Life building. IL would be vast
| benefit to the city. These statements caused
| considerable merriment.
| DR.. Miller then called upon Mr.. Edward
| Rosewater who in response said that he felt
! much embarrassed to be called upon on the
eve of national caGpaign to pay homage TO
| q democratic president, but it might be par
donable upon this occasion. Nebraska and
| Omaha were still in their infancy and the
development of the west had only Just began.
Twenty-Five years ago Omaha had not much
| over 5000 populations; within the next twen-
ty-ive years she will have q half million of
people Twenty years ago when DR.. Miller
predicted that Omaha would have $4,000
population people called him crazy, but
Omaha had lOO,O 600 population long before
the doctor had predicted she would have
80, 00O. 1t was tho same way with the New
York Life building. When MIR. Booth
located it on the top of Farnam street hill
certain business men shrugged their
| nd hou oh ha ,yn tnkan n I'M
the building Is now almost in tho business
center and within very brief period it Will
be right in the business center of the city
The speaker closed by saying that the
highest tribute that could be paid to Mr.
Mccall was the fact that he was chosen as
president of his company from among so
many insurance men of the country who
aspired to the high position.
| Mr. q. NJ. Hitchcock followed with short
address in which he said he was born not
over 500 feet away from the point where tn ey
were and that very naturally he might have
| broader conception of the community in
which he had lived all his life than some and
he certainly felt great friendship for the
| New York Life Insurance company and its
! representatives IN this city for the con-
idence they had shown they pos
sessed in Omaha by the investment
of such large sum of money. But
| he wished to assure the president OF
| the company that it had bestowed no greater
favor upon this community than it would re-
| turn for the venture that had been made. He
mad often been impressed by the strange tim
idity of eastern capital in regard to Legitimate
| western investments put he was glad to see
| that the New York Life Insurance company,
largely by the foresight Of Mr. Booth, had
| adopted the broad plan aud original idea of
investing in the promising communities OF
the west in such enterprises that would Tie
| IL to the west forever.
w. N. Babcock, general manager or the
| Union Stock yards, then addressed the gath
ering, giving glowing account OF tbs won
| derful achievements that have been brought
about in South Omaha within tho past eight
years. For the last year the cattle receipts
were nearly 700, 900 hoad, and OF this number
so per cent were SOLD at the South Omaha
yards and 60 rer cent were slaughtered at
that point. The receipts Of hogs for the same
period were 100000. Eighty per cent were
slaughtered at this point, and the balance
shipped for packing houses in the east "We
anticipate" Mr.. Babcock said IN closing,
IAN enormous business based upon the live
stock and grain product of the state, and we
, do not think we shall be disappointed"
Brief remarks were also made by Mr.. Guy
| c. Barton, president OF the Omaha and Grant
| smelling works and Henry w Yates Drssi