The Montgomery advertiser., 1906-01-04
QUITS NEW
 YORK LIFE Resignation of Mccall
 is Accepted. ORR IS NEW PRESIDENT His Salary Will Be $5O,OOO a
 Year. Board of Trustees Cuts Down Number Vice President--Resiring Exec utive Points With Pride to
 His Accomplishments

New York. Jan. 5.--John A. Mccall today resigned the presidency of the New York Life Insurance Company and Alexander F.. Orr was appointed in his place at the salary Of s50.000 a year MT. McCalrs salary was $1o0.o0o.
 The board of trustees also cut down the number of vice presidents. go that hereafter there will be two of these off, ficers instead of three.
 Mir. Mccall, who has for fourteen years held the office and resigned today. sent letter to the trustees in which he stated that his errors probably seemed greater to him than to his critics. but that he was conforted 10 think of the company's unprecedented achievements and to know that no officer or trustee had profited improperly at the policy holders expense.
 It is uncertain whether Mir. Orr will retain the presidency beyond April 1 next, when MT McCall's term would have expired. The new president is d retired merchant of this city. president of the Rapid Transit Commission, a former member of the chamber of com merce and director in many financial and philanthropic institutions. He was born in Tyron county. Ireland, in 1881.
 Hopes John c. Will Stay.
 Tn accepting the presidency, MT. Orr said that he hoped John C. Mccall and Vice President Kingsley would remain in the company's employ. John C. Mc- CaTl Is the son of former President Me- Gall. and is secretary or the New York Life.
 John A MccaIrs letter of resignation Is in part as follows:
 Tn the period of my service as pres ident. have made many mistakes. It Is easy to see mistakes after events have fully developed the situation, but when facing great problems daily. 1t is not easy to be innocent. My errors probably seem greater 70 me today than they seem to any even tolerably just critics; but notwithstanding that. am not without comfort. My consolation comes from these considerations:
 First. The unpreeedented achieve aients of the company; second. that no officer or trustee has profited tmprop- erly during that time 10 the extent of a dollar at the expense of the policy holders.
 Record of Fourteen Years. At the close of 1905. we have added net to the company as 1t stood at the end of 1891. a volume Of outstanding in- surance which in round figures equals S1, ,4s0. 100000. This business gathered In fourteen years approximates the en- tire outstanding business of the Mutual Life at the close of It's sixty-second year. and is very close Indeed to the outstanding insurance of the Equitable at the close of its 18th year. The achievement of a life time. If judged by ordinary standards. have been crowded into that period of fourteen years. T believe my retirement will make all tasks easier, all burdens lighter. all problems simpler"
 President Orr said that the fact that the presidents salary has been reduced to $5O.00O did not mean that the salar- 1 ies of other officers will be reduced in tho same proportion.
 "The resignation of MT. Mccall pass ed unanimously" said MT. Orr, be cause 1t was his desire that 1t be so accepted have never attended a meeting of trustees who expressed more genuine regret at losing the service of such a commendabIe president