The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1916-07-07
ST. FRANCOIS COUNTY
BOY AT THE TOP


The following article, taken from
the Commercial and Financial
World" of June "a standard finan-
cial publication of New York, has to
do with William A. Kennedy, son of
Capt. w. A. Kennedy of Pennington,
who was reared on a farm in St.
Francois county:
On Wednesday last very handsome
and spacious offices, occupying the en-
tire ground floor of No. IS Wall street,
were opened by the important finan-
cial concern named in the above head
ing-Kennedy, Mitchell & Company.
This is company which was re-
Gently chartered under the laws of the
State, with capitalization of 81 ,000,-
900 for the purpose of carrying on a
high grade investment banking bus
mess. The officers Of the company
are Mr.. William A. Kennedy, presi-
dent, and Mr.. John Mitchell, Jr., vice
president. Mr.. Kennedy brings to
bear lifelong experience in the bus
mess, formerly in London, whence he
came to New York in July last. At
that time, or shortly afterwards, he
was interviewed by the representa-
tives of various New York newspa-
pers, one of which latter printed a
column interview with him, quoting
him as a high authority upon finan-
cial affairs, and giving prominence to
his views as to American financial
supremacy after the war. On this
matter he said
NTTndo,,btaIlx, 4bo ,,onlJ,, oo,,+o,. - &
finance has permanently shifted from
London to New York. The United
States is certain to become the worlds
greatest creditor nation, and great
responsibilities will thereby be thrust
upon it. You will be called upon to
finance the greater part of the world,
and you will have abundant resources
to fulfill this obligation.
america securities will become the
premier securities of the world. Even
now they are practically the only Sc
curities you can sell in London. There
has been steady liquidation, of course,
but it has been forced by necessity.
81 should say that before the war
Great Britain owned more than $5,-
000,000,O00 of American stocks and
bonds, and that since last January she
has liquidated about S500,000, 900
worth. This liquidation is going on
steadily, but it is not of a pressing
character. You are abundantly able
to take all the securities we can send
you.
"This would be the logical method
of adjusting the foreign exchange sit
uation, provided we could induce our
British investors to come forward with
a sufficient amount of securities. They
are selling them very reluctantly, how
ever, yet they are buying none at all
at present, as everybody, of the in
vestment class at least in England at
present, is very poor. They are hus-
banding their resources in the most
rigorous way.
still, after the war is over, |
should predict that your securities
will become very popular mediums.
The belligerent nations will be taxed
to death to meet the wars cost, and
there will be a great disposition, so
far as possible, to make Investments
outside of these countries. | should
say that the future of the American
invetment market is very bright"
AT the same time, year ago, Mr..
Kennedy predicted that the war would
last for at least for another year, and
possiblymight be prolonged for three
years-or until August, 1917. 1t now
looks as though his opinion would be
justified by the course of events.
1t may be added that Kennedy.
Mitchell & Company, Inc, have
branch offices in London and Paris.
Their connections are of the highest.
and it is evident that they are des-
tined to take a leading part in the
Information financial operations of the
future.