The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-10
HORADLOVTR OUTS \. LIFE.
TNNES rP roo HCGB TIHE 10 no
arm SFgg. ~ n RITg2

tsmpaay WtRsuf G1estins Csaasei esss
Wef-atTs TPieasss sitter AOaiust IllB.
william D f~iOrnbioWsf resigned ~ Q
Trustee n the New YOrh flfs Insurance
Company yesterday Hia r~eaignatloa was
aoospssd By the boafd u trustees WltbOsa
formal comment. The fsaa0n ~ gives
for retiring h that hls duties - 0 trisfes
tahs too maoh tins and attention from hts
professional Werh,
Mr.. HOfabLOwef had hssn O nssmbpF ~
Tie New YOfh ldfs'a governing board for
sintesn years and for the efr4fer psrt ~
that tpriod had been FeEacisd - otto
% rho mauaasmsns's chisf sdvlaers. Ie
Wa pillsd into the lIu,eIiGht In the insurance
scandal when Judg. Andrew Hamilton
made HE dramatic appearance before tho
Legislature nj Albany
Hamilton oalied Mr. HOrnblowef 'tbs
Pechanlh of three New York. Life admits.
tratiOns abd the would-be Talleyrand 81
the present ons . Ne charged that Horn
blower had held the san,o relation 10 Pre-i.
Sen, iIsers ~ the New York Llss - he
Hamilton had held 20 President Mccall
Mr. liornblOwsr denied empbaticaily that
he had ever made any expenditures for
the New York Life In legislative matters.
Hamilton's speech on that occasion oaly
reflected the bitterness OF nearly aIl ~ the
late John 4 McCall's friends toward Mr.
Hornblowsr They held that n was Mr..
Hornblowrr who was chiefly responsible for
the overthrow ~ Mr.. Mccall. They said
that he waH the moving spirit behind tho
Fowler investigating committee, II was
aid yesterday that this feeling against Mr..
Honblower may have had something Ia do
with his retirement. There are many men in
the New Yory Life. especially in the agency
department, who still stand up for John A.
Mccall, and some doubt has been expressed
whether Mr.. Homblower would no able to
be reelected If hc consented to rim.
here is Mr.. Hornblower's letter TO Presi-
dent Alexander T.. Orr, dated May q:
hereby resign my position as a trustee
OF this company. The term Of Office 20 which
| was elected expires to-day. except az ex-
tended by the recent act or the Legislature.
During the Investigation into the affairs Of
the company | was Obliged to give almost
constant attention TO the affairs OF the COM
pany. The consequence has been a very
serious interference during thes past autumn
and winter with the giving Of necessary
attention to my professional work. So ong
as that Investigation was pending I should
not have felt az liberty to withdraw from
the company. however my professional
business might have been interfered with.
As the legislative Investigation IL now a I
an end. and as the four years term Of ONCE
for which I was last elected has now expired,
/ no longer feel under obligation TO continue
to serve az trustee. and | dc not desire to be
a candidate for reelection. attended as such
continued service and candidacy must be
with further interference with my professional
work. much Of which has been necessarily
postponed during the last few months and has
accumulated on my hands. requiring my I'M
divided attention and labor during the coming
months.
regret ~severing my association with my
colleagues OF the board, with all OF whom my
relations have been most agreeable and har-
monious.
Mr.. Horr blower, before he announced
his intention to withdraw at the board
meeting, sent n long letter to each Of the
trustees In his personal letter he reiter;
note, and added that it had been his in
tention for a long time, prior even to the
state investigation, to retire from mem
bership in the board at the expiration
Of his term.
Mr.. Hornblower said that he Was at one
time the general counsel Of the company.
but never received a salary or annual
retainer. In late years his special services
TO the company had gradually decrea sed
and since im2 he had received no fees
from the company, except trustee fees,
for attending meetings Of the board and of
the agency committee. MIR. Hornblower
said further that the impression prevailed
among his brother lawyers" and also
among members Of the hoard, that he was
still in a sense general counsel for the COM
pany; ,,
sible for the affairs OF the company by reason
Of that impression to a degree beyond
that for which my brother trustees are
held responsible.
visitation, and since said Mr.. Hornblower,
Il have rendered and expect to render no
bill whatsoever to the company, az l re-
gard the work done by me as done in my
capacity as a trustee Of the company and
not as a lawyer
Mr.. Hornblower said further in his per-
sonal letter that he appreciated that there
was q duty imposed upon the trustees of
the company not to voluntarily desert the
trust or surrender it until the policyholders
should have elected those who are to be
charged with the future management of
the oompany's affairs.
at is" he Concluded. only because I
realize that | cannot adequately perform
the duties Of my trust without neglecting
other duties and sacrificing other interests
that / feel at liberty to Withdraw"
Some persons who heard OF Mr.. Horn
blowers resignation recalled the fact that
his name was printed on ciroulars sent out
by the management Of the New York Life
recently as among the trustees who we're