The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-01-24
FAITH IN The WEST
The Eyes Of the East Are Turned
This Way.
SAYS JOHN A. MCCALL OF N. Y.
Head of the New York Lie Insurance
Company Visits the Twin
- Cities.

John A. Mccall, president Of the New
York Life Insurance company, is at the
West hotel. The head of one of the larg-
est life insurance companies in the world
is on his annual tour OF inspection Of
the branch offices of the company, and will
be in Minneapolis until tomorrow. In
the meantime he will inspect the build
ings and other property interests of the
company in Minneapolis and st. Paul. This
afternoon he held a council with the ocm-
pany's representatives and agents in the
northwest, congratulated them on the
great showing made for the company in
this section last year, and urged them
on to greater endeavor for 1902.
Mr.. Mccall is enthusiastic over 1.-THE
present outlook for the life insurance
business, and predicts that this year will
be the record breaker both in the number
OF policies written and in their grand
total. y
Mr.. Mccall says that the company is
more than satisfied with the interest on
its Minneapolis Investment and on it's
four other western buildings in St. Paul,
Kansas City, Omaha and Chicago. +
"The fact that a building the size Of
our Minneapolis structure" he added,
has been taxed to its utmost capacity
the year through reflects to us in very
substantial way the prosperity and con-
tinued growth of the city of Minneapolis.
This city. has a great future ahead of it,
and eastern capital is watching for a
chance to invest here as often as oppor-
tunity offers. Western money has been
coming east for some years now, and our
company has long since realized the wis
dom OF investing part Of it's surplus in
real estate in progressive western cities,
especially where we have been paid such
handsome returns. Our company has about
$780, 600 invested in western railroad
stocks. Eastern capital is seeking west
ern investment in large amounts these
| days. Only the other day while 1 was in
Chicago, Farson, Leach & Co., sent
s2,oo0,00O to Chicago for investment at
very low rate of interest. You see, it's
almost going begging" ....-
1.-THE recent death Of q man like Frank
H. Peavey of Minneapolis" said Mr.. Nc
Call, who carried the second largest life
insurance policy ever issued, greatly
stimulates interest in life insurance and
| induces many men to take out policies,
! with whomlan agents solicitations might
be unavailing. Mr.. Peavey was "a man
| feet health, and apparently had many
years ahead of him. But pneumonia,
which carries off so many strong men
nowadays, was to be reckoned with and
! he was powerless to Withstand it,
No Chance for a Trust.
AS Mr.. Mccall had just been in confer
ence with F. Troup of the Mutual Life
Insurance company, who came to Mime
! apolis recently to pay the 100000 policy
held by the late Frank H. Peavey, the
! former was asked about the chances fol
| a combination of companies in an insur.
| ance trust. He declared that the insur.
ance field offered absolutely no induce
| ment toward consolidation. The public
l,,D+
| of the business is such as to preclude thu
possibility of an amalgamation of insur
| ance interests.
At the same time Mr.. Mccall explained
| that he was in sympathy with the cen
| tralization movement Of the day, and tina
as general proposition he favored tn
Great Northern Northern Pacific merger
A Word for MIR. Hill.
."Any consolidation tending to reduce
expenses of operation" he said, ais a goot
! business proposition. Mr.. Hill is a goot
friend of mine, and hope his plans vii
succeed. cannot help but feel that h
has been of valuable service to Minnesot:
in developing this state and the north
| west. AS to it's being union of parable
and competing lines, that's another ques
ton for the courts to- settle. It is be
lieved in New York that Peter Power
whoever he is, is acting for the riva
railway interests, and that neithe
Power nor the people back of the sui
brought yesterday have any personal in
| terest in the matter" -5.I-
r. Interested in II. HI. Shevlfn.
Mr.. Mccall expressed great interest il
the political aspirations of T. H. Shevlin
the Minneapolis lumberman, with whom h
was school boy at Albany, N. Y.
~ Luncheon at the Club.
Lester B. Elwood gave a lunch at
! O'Clock to-day in the Minneapolis club TO!
Mr. Mccall In addition to the guest o
honor and Edward I. Devlin, superintend
ent of the real estate department of tn
New York Life Insurance company, VIII
accompanies the president were presen
the following Minneapolis men: j. w
Raymond, president of the Northwestern
National bank; R. R. Rand. treasurer Q
the Minneapolis Gas Light company; 3
c. Cooke, vice president of the Mime
apolis Trust company. and A. L. Bel
KNAPP.
l.