Omaha daily bee., 1906-01-04
ORR WILL SUCCEED M'CALL
Retired Merchant Appointed Temporary
President of New York Life.
He WILL PROBABLY RETIRE IN APRIL
salary of New Executive Placed
at s5O,OOO Per Year--Text of
McCaIps Letter of Res
iRnation.

NEW YORK, Jan 3-John A. Mccall
today resigned the presidency of the New
York Life Insurance company and Alexan-
der r. Orr was appointed in his place at
the salary of $4,000 a year. Mr. McCall's S
salary was 100000. The board of trustees
also cut down a number of second vice
presidents so that hereafter there will be
two of these officers instead of three. MIR.
Mccall, who has for fourteen years held
the office which he resigned today, sent a
letter to the trustees in which he said
that his errors probably seemed greater
TO him than to his critics, but that he
was comforted to think of the company $
unprecedented achievements and to know
that no officer or trustee had profited
improperly at the policyholders' expense.
sketch of New President.
1t is uncertain whether Mr.. orr will re-
tain the presidency beyond April l. next,
wnen Mr.. McCalls term would have ex-
pired. The new president is a retired
merchant of this city, president of the
Rapid Transit commission, a former presi-
dent Of the Chamber of Commerce and a
director in many financial and philan-
thropic institutions. lie was born in Ty-
rome county. Ireland, in 1881.
In accepting the presidency Mr.. Orr said
he hoped that John c. Mccall and Vice
President kingsley will remain in the
company's employ. John c. Mccall is the
son of former President Mccall, and is
secretary of the New York Life.
McCaIrs Letter.
John A. McCalrs letter of resignation, in
part is follows:
In the period of my service as president
l have made mistakes. 1t is easy to see
mistakes alter events nave fully developed
the situation, but when facing the problems
daily, 1t is not easy to be inerrant My
errors probably seem greater to me today
tnan they seem to any even tolerably Just
critics, but Notwithstanding that, l am not
without comfort. My consolation comes
from these considerations; nrst, the un-
precedented achievements Of the company
second, tnat no othcer or trustee has
prohted improperly during that time to the
extent of "a dollar at the expense OF the
poncy holders.
AT the close of 1895 we have added net
to the company as il stood at the end of
1891 a volume OF outstanding insurance
which in round figures equals Sl,4oO, VJO, wv.
4 his total gathered in fourteen years APP
proXimates the entire outstanding in
surance Of the Mutual Life at the close of
its slXty-second year, ana Is very close
indeed to the outstanding insurance of the
Equitable at the close of its forty-sixth
Year.
Tne achievements of a life time, if judged
by ordinary standards, have been crowned
into tnat period of fourteen years. l pe-
lieve my retirement will make all things
easier the burdens lighter, the problem
simpler.
president Orr said that the fact that
the presidents salary had been reduced TO
s5O.0 did not mean that the salaries of
other officers would be reduced in the
same proportions.
The resignation of Mr.. Mccall was passed
unanimously, said Mr. Orr, because II
was his desire that it be so accepted.
| have never attended meeting of trustees
| who expressed more genuine regret at
| losing the service OF such a commendabe
president"
Richard A. McCurdy, former president OF
! the Mutual Life Insurance company, and
| his son, Robert II. McCurdy, today resigned
as trustees of that company. The resgna-
| tions were accepted by the board OF
| trustees This Office was the last one re-
| naming to either the former president or
| his son in the company.
Nandiyer Talks of Resignation.
| JEFFERSON CITY, Mo-, Jan. 3.--Wheu
| informed by the Associated Press today
| that President Mccall of the New York
! Life Insurance company had resigned, w
| ID. Nandiver. state superintendent of insur-
| ance, stated that lac is not ready to an
| nounce his future action in regard to the
custer proceedings which he has instituted
| against the New York Life. lie said:
II will consult my attorneys before MAX
ing any decision in the matter. The OIL
| GERS whose designations I demanded have
all resigned; part OF the funds l demanded
| to be returned President Mccall put back
and the other part, understand. may be
restored as there is a suit pending in New
York to test the question; but am not yet
| Informed fully as to all the changes in tho
management. 1 am expecting more explicit
| Information from New York in few days
! when ! will consult my attorneys about II
! and decide what | will do"