Amusement

A dozen years ago Joseph P. Kennedy, Boston Irish boy just turning his 20's loved to hear Sweet Adeline. The song was the favorite of Boston's recent (1906-07, 1910-14) Mayor, John Francis Fitzgerald. Mr. Fitzgerald would sing it in the front parlor of his folksy white home in Dorchester, Boston suburb. Young Kennedy, outside on the porch hammock would give ear and, with him, Rose Fitzgerald. Or while her father's heart pined for "Adeline," they would stroll into Franklin Park, past the monkey house toward the quiet place of the bear pits. Rose Fitzgerald and Joseph P. Kennedy were married, and he took a position as president of the Columbia Trust Co. of Boston. He was 25 then, the youngest bank president in the U. S.*

Two years ago Mr. Kennedy, in his mid 30's, took a better business position. With the aid of rich friends he bought from British investors control of FBO (Film

Booking Office) Pictures Corp. and became both president and chairman.

Having learned from his singing father-in-law the politic value of give & take, he last year gave Radio Corporation of America, General Electric and Westinghouse Electric & Manufacturing important rights in his FBO Pictures Corp. Thereby he gained a valuable tie-up for his cinema studios with radio studios.

Last February he also gave an interest in FBO Pictures Corp. to Keith-Albee-Orpheum (K. A. O.), largest amusement enterprise in the world. K. A. O. own 203 theatres, including the Hippodrome, Manhattan, and last year made nearly $2,000,000.

Last week Mr. Kennedy took his latest reward. With Blair & Co., Lehman Bros, and other financial associates he bought a large block of K. A. O. stock. The K. A. O.'s board of directors met and elected as president E. F. Albee, as executive vice president Marcus Heiman, as chairman of the directorate Joseph P. Kennedy.

* He still controls the bank. His father, Patrick J. Kennedy is now president.