The sun., 1906-02-19

you are IN tne naDlt OF "OThinB hB"'o'
-Yes, when get bit behind feel
miserable II know the work is aoclmu-
lating."
We'll, i" replied the new Republican super
,ntendent. you are one OF the Few men
in this Office who show a disposition to
earn their salary. guess III have with
draw my order for your dismissal
THAT suits me- was Mr.. McCall's way OF
In the fall of 1872 Mr.. Mccall was ad-
tanced TO be an examiner, and in 1873 ne was
publican-Charle. G. Farman- -.succeeded
Emyth as superintendent and during the
terms Of both Mccall did good work. The
life and fire insurance business in ths STATE
was in badly demorali2ed condition; at
that time. Frauds and illegal practices
were common and fragrant attempts were
being ma de to head off the supervisory
powers Of the State Denartment
MIR. Mccall was tireless In his Efforts to
hv bare the practices Of the companies.
Twelve fire insurance companies in seven
wears were exposed and driven out OF busi-
ness, and eighteen life companies IN this
State and fifteen in other States were forced
to stop issuing policies,
examined by Mr.. Mccall were found guilty
81 perjury and sentenced to terms in the
In 1898, when Grover Cleveland was
Governor, IneTe was d ElONcuiClL
the fire and life companies to ask for the
appointment Of Mr.. Mccall as State Super
intendent, but Mr.. Mccall refused. petit
ton signed by bankers and representative
SEss sna m Mseae
appointment. Daniel Manning and Daniel
8. Lamont, having become interested in
Mr.. Mccall through his Democratic friends,
are said to have urged the appointment
endeayor % and a1ncompromising 1 fidelity to
duty have given abundant proof OF his NJ
ness read the petition which was pre-
scented to Mr. Cleveland
Mr.. Mccall was accordingly appointed
In January, 1888 just thirteen years after
he had entered the service OF the depart
rnent David B. Hill who succeeded MIR.
Cleveland as Governor, offered Mr.. Mccall
4 reappointment at the, expiration OF his
instead the comptrollership of the Equitable
Life Assurance Society at salary OF slo'-
900 year
That was in 1885. Six years later he was
asked to become president OF the new
York Life at salary Of SIS 900 year Mr.
Mccall was selected at that time as one who
would restore confidence in the integrity
OF the institution The company had
passed through almost year long attack
by the newspapers, which resuiteo IN ,ne
tirement of William R. Beers as the ex-
ecutive head Of the company.
The company. when Mr.. Mccall became
president, was one of the. three largest
rnoralized condition. Even his harshest
critics admit that the work which Mr.. Mccall
accom- plished in bringing the New York
Life up to its present standing was really
remarkable and entitled MIR. Mccall to
foremost place in the ranks of insurance
men.
When the Armstrong committee began
it's investigation Mr.. Mccall appeared at the
first public hearing and announced that
the company would not be represented
BY counsel. as it had nothing to conceal
and stood ready to assist the investigating
committee in every possible way.
But trouble came for him when the COM
mittee uncovered payments amounting
Andrew Hamilton, Mr. McCall's boyhood
friend Mr.. Mccall testified that this
money had been paid to Hamilton on his
order to be used in acqqlrlpg gLan land lS tor the
home office annex. Mr.: IT, hughes showed &c,
Hamilton for this purpose. When numer-
Gus other payments to the Judge we're
disclosed Mr. Mccall admitted that Hamil-
ton had charge of the New York Life's
bureau of legislation and taxation. One
payment after another to Hamilton was
uncovered by the State investi gators, until
the grand total stood at 81 ,l84 ,Ooo;
The Armstrong committee called upon
President Mccall to instruct Hamilton,
began, to return, and in the event of his
not being able to do so to make an account
ing for the moneys which had been paid
10 him. particularly the $4,000 which
he had got on the home office annex ac-
count"
Mr. Mccall sent his son. John c., secretary
of the New York Life, to Paris to get Hamil-
ton. Secretary Mccall returned with a
doctors certificate to the effect that Hamil-
ton was not able physically to undertake
ha homo and alsD statement which
purported to account for the moneys which
lie had received, but which, in fact. con-
tanned no detailed information Of the ex-
penditures.
company until January g. when he retired,
He admitted to the board of trustees in his
letter of resignation that he had made mis-
takes but declared that no officer or trustee
of the company in his fourteen years SER
vice had ever profited improperly to the
extent Of a dollar at the expense Of the policy
holders.
Mr.. Mccall in his letter resigning the
presidency of the company stated
In the period OF my services as president
mistakes after events have fully developed
the situation, Any one can be wise then;
not so easy to be inerrant. My errors prob
ably seem greater to me to-day than they
comfort. NV consolation comes from these
considerations
Frst--The unprecedented achievements Of
Second-That no officer or trustee has
proited Improperly during that time to the
extent of a dollar at the expense of the policy
holders.
achieve ments of my administ ration: We
have kept the company intact. as it vas when
became its head, and, at the close of 1905,
have added net to the company as II stood
at the end of 1891 volume OF outstanding
insurance which. in round figures. equals
81 $50 600 600 This total gathered in four
teen years approxmates the entire out
standing insurance of the Mutual Life at the
close OF its sxty-second year and is very
close indeed to the outstanding insurance
Of the Equitable at the close OF its forty
sixth year.
In the early part Of this month the New
York Lies self-investigating committee,
which had been appointed to examine into
the payments to Andrew Hamilton, broug 1t
in a report condemning President McCall's
attitude in this matter and holding him
liable for about $4,000 in addition 10 the
s235 600 which be had paid back into the
company.
To pay the s235, 900 Mr.. Mccall was obliged
to mortgage his summer home Shadow
Lawn. at Long Branch. n j., and shortly
afterward he sold it, This place was one
Of the most beautiful summer. residences
in this country. 1t was builH only two
nd ;o To ha1 4 nOn