Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-01-01
HAS MCCALL RESIGNED
Presidency of the New York
Life Company.
REPORTED GIVEN SATURDAY
Declared Resignation Was Reluctant
ly Accepted by Trustees.
HE FELT IT BEST TO TAKE STEP
Alleged Protests Made by Several of
the Board Against Acceptance
Pledged to Secrecy.
REPORTED GIVEN SATURDAY
HE FELT IT BEST TO TAKE STEP

NEW YORK, January lit was made
known last night on excellent authority that
John A. Mccall resigned on Saturday the
presidency of the New York Life Insurance
Company, says todays Times. and that his
resignation was reluctantly accepted by
the trustees of the company. Official an
nouncement of the resignation had been
planned by the trustees to be made next
Tuesday. when the annual assessment of
the company also became public property.
Mr. Mccall, at his home last night, would
not reply to a request that he confirm the
report of his resignation.
Most of the trustees Of the New York
Life were spending New Year out of town.
None of those who could be reached would
talk about Mr. Mccall or the company's
affairs.
Mr.. McCaIrs resignation, according to
the information which reached the Times,
was presented to a full meeting of the
trustees held in the offices of the COM
pany Saturday morning. The resignation
was in writing.
Mr.. McCall's Letter.
In his letter Mr.. Mccall said that. after
long and careful consideration, he had felt
it best to take such step. In the month
during which the insurance controversy has
affected the New York Life he said, his
peace of mind had suffered from continu-
Gus misunderstanding and msrepresenta-
ton OF his actions and distortion Of facts
and misquOtatiOn of his utterances by the
newspapers. He was not in good health
now. and he felt that it would be best for
himself and for the company If he re-
signed the presidency.
Protests We're made by several of the
trustees against receiving the resignation,
and there was evidently desire on the
part of these trustees that Mr.. Mccall
should still retain the presidency. despite
the demand from outside the company for
his deposition. 1t was made plain to these
trustees, however, that Mr.. Mccall would
abide by his resignation, and Ii was then
accepted with appropriate expressions of
regret.
Trustees Pledged to Secrecy.
AL of the trustees present were pledged
to secrecy until Tuesday next, when the
annual financial statement of the company
will be made public. This statement is
known to be even more favorable to the
company than might be' expected.
John Clafiin, the dry goods merchant, who
is q trustee of the New York Life, has fire.
Quently been spoken OF as Mr.. McCaiPs sue
cessor, but 1t is by no means certain that
Mr.. Clafiin will accept the office.
Mr.. Mccall, II is understood, intends to
leave town after Tuesday next to take a
long rest. 1t Is not improbable that he
will go to Europe for while.
Many demands have been made by out
siders on Mr. Mccall for his resignation
but he steadfastly declined to retire under
fire. Suits have been brought to compel
his resignation, as well as that of George
W. Perkins. who was chairman of the New
York Life's finance committee. State SUI
perintendent of Insurance Vandiver of Mis-
souri, demanded both designations Mr.
Perkins of his own initiative did retire but
Mr.. Mccall has kept his office until now.
Story Not Confirmed
The report that John A. Mccall is about
to retire as president of the New York
Life Insurance Company could not be con-
.irmed today. Neither Mr.. Mccall nor any
of the company's trustees would make any
statement regarding the matter 1t was
said that the trustees have pledged them
selves to secrecy until after the company S
annual report Is issued tomorrow 1t is
expected that formal announcement of Mr.
McCall's retirement will be made at that
time.