New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-04

R nof OF foq Tss Kpovns that the TGT
poe 6 a III me- act have abG x to
back the commission which you gave me at the be
ginning of 1892 say the commission which you
which Ii first elected me president Of this company
changes. '@-iA'i'- me mas i'''eeo "fO'S"'
,h To YOU ~ gentlemen gen Of the hoard extend
stood together in the interest OF the company dur
the executive staff l would like adequately to ex-
great @ Gf GS opss to but t the ofsa9G IS
here: No corporation has. or ever had an abler,
| the work could not have been done They deserve
the entire confidence Of the board Ny thanks go
al over the word and espeoiay do ac
which in loyalty. enthusiasm and efficiency was
believe my retirement will make all tasks
easier. all burdens lighter. all problems simpler
PRESIDENT s Of the fife T Cons n
| pany. to take effect at
MR.. ORR BEGINS WORK AT ONCE.
Mr.. Orr went to the executive offices on the
fourth floor Immediately after the meeting of
| the trustees He asked when he intended
to begin work president of the company, and
replied:
My election to take effect Immediately
and have already begun work as president
He told of the meeting of the trustees. and
added: Il have never attended meeting where
trustees expressed more genuine regret at losing
the services of such a commendable president.
1t was the unanimous opinion that whatever
errors might have been committed by Mr.. Nc
Call were those OF the head not the heart"
Mr.. Orr was asked If his work as president of
the New York Life would make it necessary for
him to resign from the Rapid Transit Commits
sion.
81 cannot say yet he said MY colleagues in
both the commission and the New York Life
hov
my duties to each institution and the members
of the Rapid Transit Commission have urged
me to stay on the board. But 1 will say that
If I found I could not do the work of both
properly, IL either interfered with the other I
would resign from the commission"
Mr. Orr would not say whether there would
De any scaling down of salaries in the New
York Life in accordance with the reduction
made in the salary of president He said that
he had not been long enough in office to tell
about that, but that from his experience as vice
president he considered it would be hard
10 improve upon the machine of the company
and the working force He would not say
whether Vice-President Kingsley would continue
in office.
Inc annual election of the trustees will be
held in April. and in May it will devolve upon
the new trustees to elect officers for the year
Several movements are on foot to collect enough
independent proxies to make fight at the April
election to put a number of new trustees in
office When 1t became known that Mr.. Mccall
was about to resign, it was generally under
stood that Mr.. Orr would succeed him and at
that time it supposed that he would be
elected to serve only until April. It was also
generally understood that Mr.. Orr was averse
to holding the place for q longer time owing
to his advanced age Che will be seventy-ffve in
March, and his many other interests. His re-
mark yesterday that he would resign from the
Rapid Transit Commission If that work inter
fered with his duties to the New-Yorlx Life was
generally understood to mean. however that he
not only contemplated serving until April but
expected to be reelected at that time
MUTUAL TRUSTEES MEETING
The Mutual trustees, after accepting the re-
siguations Of the McCurdys from the board re-
ferred all questions OF reorganization to Presi
dent Peabody, with instructions for him TO report
back next Wednesday 1t is possible that the
Truesdale housekeeping committee will also
make its main report at that time. It held
meeting after the trustees meeting yesterday
and at the end called on the actuaries for more
extended figures, The preliminary reportNof the
housecleaners, which turned in to the trus-
tees last week Wednesday, was not considered
yesterday, but was again laid on the table
President Peabody was asked after the meeting
If Vice-Presidents Grannis and Gillette would
remain in office. He said that far as he knew
they would.
Wendell NJ Strong, who has been assistant
actuary in the Mutual's Chicago office, is to be
brought here to hold the same place. In
effect, he will be the chief actuary. for Emory
McClintocS. the actuary, has been made vice
president, and the work of Robert H. McCurdy,
as general manager, has been turned over to
him.
James Hazen Hyde and James W. Alexander.
formerly of the Equitable, have resigned as
directors of the Fidelity Trust Company and the
Union National Bank, both Of Newark. The
designations have been sent to the presidents of
the Institutions TO be presented at the annual
meetings next Tuesday. The Fidelity Trust
Company controls the Prudential Life Insurance
Company Cphe Prudential also controls the
Fidelity)
The examination of the Mutual Reserve to be
made for the Missouri Insurance Department
has been postponed until February Several
other States may join Missouri in the examina-
ton.
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