Omaha daily bee., 1905-12-17
REGRET LOSS OF PERKINS
New York Life People Regard Him as
Main Factor i'm signal Success
of that Company.

Local represon a es Of the New York Life
Insurance company express themselves re-
gretfully over the resignation of George
w Perkins, under whom several of them
worked, and endorsed the sentiments con-
tained in the resolution passed by the trus-
tees last week, as follows:
Whereas, Mr.. Perkins connection with
this company has extended through the en-
tire period OF his business life, and covers
that portion Of the company's existence
within which its greatest growth has &C.
CURED; and,
whereas, Mr.. Perkins has rendered this
company and its IpliCyhOldeTs services
which have touched almost every phase Of
lie insurance development, which have eX-
tended with controlling force to the work
and policies Of this company during the last
fifteen years, and which have not been eN-
celed in efficiency and importance by the
work of any officer of the company at any
time therefore, be il
Resolved. That, in accepting these resig-
nations, We express to Mr. Perkins our
high appreciation OF his long and singularly
valuable services to the company and we
congratulate him on the great opportunities
which his ability and integrity have opened
and are opening to him.
The personal statement contained in the
letter of resignation submitted by Mr.. Perk-
ms reads:
Having passed through all the various
grades Of service, including that Of an
agent I'm the field. | was elected n vice
president Of the company I'm February, 1892.
| The task of reorganizing the company :
agency department throughout the world
was Immediately assigned to me- l devoted
myself exclusively TO this for the succeed
ing eight years. During this time the old
general agency system Of the company was
broken up. not only In this country but in
other parts Of the world. The middIeman.
who. under that system. always made large
profits in the form of overriding commits
sions, was eliminated. A new plan Of or
Eanization known as the branch office sys-
TEN, by which the company deals direct
with the insured and direct with the pub
lie, was established, with the result that
new business is secured in n much larger
volume and at a lower cost and stays on
the books with greater permanency
Various methods have been devised.
known as the "Nylic" system, to promote
/ the permanenCy of The agents connection
est In the quality of the business secured.
This system has materially helped to de-
/ velop a large body OF unusually efficient
mon who because of these Influences and
| OF their absolute faith in the company, have
! selected service here as their life work.
I They are thoroughly trained and equipped
life insurance men. They have been Sc
lected after years Of effort out of many
thousands who have served the company
/ They are, individually and collectively, of
enormous value to this company. It would
take years of time and a very large sum
Of money to replace them.
| ] feel some pride in the part I have had
/ in creating this organization and. therefore,
sincerely hope that, in justice alike to the
organization and the poCyholders. nothing
| VIII be done TO lessen the effectiveness and
/ value of the work Of the men IN the field.
! When I entered the firm Of j. p. Morgan
/ & Co II was understood between Mr.. Nor
gan and myself and also understood and
approved by the New York Life Insurance
company, that the dual position should not
continue. However. my long connection
with and deep interest IN the New York
Life Insurance company made me loath ia
leave II, especially as I came to realize that
/ my connection with the financial world was
Of substantial value to the polcyholders of
the company and believe this is demon
strated by the statement I herewith sub
NIT rs TO the operations of the finance COM
| mittee during the period of my chairman
! ship
MY business responsibilities, already very
! great have within the last few DAYS beer
| so increased by my election to executive
positions In other companies that | ask you
! to accept my RESIGNATION as OF this date. Ir
taking this step I desire to testify most
! heartily to the unselhsh devotion at al
| times Of my associates on the finance com.
mittee to the poliCyholders interests and
/ TO acknowledge my obligation TO them FOR
their wisdom and counsel. without which
/ the results accomplished would have beer
/ impossible.