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Show SUCCEEDS M CALL AT JjALF SALARY Alexander E. On Appointed to Presidency of New York Life. HE MAY NOT HOLD THE POSITION PERMANENTLY Hopes John C. McCall and Kingsley ill Remain With Company. NEW YORK, J.-m I -.tnhn A McCail today resigned the presidency of the New York Life Insurancn Company and Alexander E. Orr wna apMilnte. in his place at the salary of $60,000 n .fir Mi M.-iiU'n salary wus tlOO.QW). The board of trustees also cut down tho number of e,-,,n.i vlce-presldenta ao that hen if tar there win bs two -f these onVers Inati ad "f thn e McCall Feels Comforted Mr KoCall, who lwu for fourteen ears held the oirice which h resigned t.uinj fi-nt a letter to the trustees In which he state. 1 that his errors probably seemed grenter to him than t. his rrltl. s, hut that he was comforted t" Ihlnk ..f th.. .-.jinpany'H unpre cdentcd nchlovemenls and t . know that no officer or triibte,-. had jirtifltcd Improperly si the policyholders' policy-holders' expense. Orr May Not Retain It It la uncertain whether Mr Orr will retain the presidency beyond April 1 next hi n Mi MrPalTs term wcuid have explnvi Th. n 1 jiresldent Is a retired merchant of this rlt. president of the Kapld Trnnsli commission, a former president of the r'haniber of Commerce and a director In many llnancial and phll- anthroplc Institutions He was bom in Tyrone, Ty-rone, Ireland, In JH.11 Wants John C. to Remain. In accepting the presidency Mr Orr said that he hop-d John C McCsJl n.nd lce-Pre Idenl Klngsley would remain In the company's employ John C. McCall Is the son of former Pn lldenl MoOall and Is secretary of the New Vork Life T.-.hn A Mcr'all s letter of resignation In part, us follows: Can See Mistakes. "In the period of my service ns president T have made mistakes It Is easy to see mistakes mis-takes after events have fully developed the Mutation but when facing gTeat problems dally It Is n .t ensy to be Inerrant My errors pxob-ahl pxob-ahl f i em greater to mn to.lay than ther seem to any even tolerably Just critic, but notwithstanding not-withstanding that. I am not without comfort My consolation comes from theae. conl.era. tlona First, the unprecedented achievement of the company, (-erond. that no officer or trustee haa profited Improperly during that time to the extent of r dollar at the expense Of the policyholders What Company Has Dono. "At the close of W5 we hava added net to the company as It stood at the end of 1S91 a volume of outstanding Insurance which in round Igures equals f l.WO.ono.ooo This total gathered In fourteen years approximates the entire outstanding Insurance of the Mutual Life at the close of its sixty-second year and Is very" close. Indeed, to the outstanding Insurance In-surance of the Equitable at tho cloae of Its f..rt -sixth year The achievements of a lifetime. If judged by ordinary standards, have been crowded lnt -i that period of fourteen years. I believe my retirement will make all taak easier, all burdena lighter, all problems simpler." Not to Cut All Salaries. Presld -nt irr said that tho fart that the president's salary had been reduced to IW.OOO did not mean that tho noiarlas of other officers offi-cers would be reduced In the some proportion ' The resignation of Mr McfJI wa passe, unanimously." said Mr Orr, "because It was his .bHlre that It should bo accepted. I have never attended a meeting of fruateo who expressed ex-pressed more genuine regret at losing the service ser-vice of ftuch a commendable president." |