James Rudolph Kay Ph.D.

James Rudolph Kay, Ph. D. Longtime Austin resident, James Kay, was born in Lafayette, Alabama on July 2, 1915, and passed away quietly on July 8, 2011 at the age of 96. Known by most of his friends as Jim, Mr. Kay grew up in Birmingham, Alabama. He earned his way through Birmingham Southern College by working on its accounting staff, graduated Summa Cum Laude with a Bachelor of Arts degree in Economics in 1938, and earned additional academic recognition through his memberships in the Phi Beta Kappa, Beta Gamma Sigma, and Phi Kappa Phi honorary fraternities. Awarded a post graduate fellowship to pursue his doctoral degree in Economics at the University of Virginia, Mr. Kay had completed his doctoral course work and most of his dissertation research and drafting when he was recruited into the V7 Officer Training Program by the U.S. Navy during the World War II era. Prior to his active duty deployment, he returned home to Birmingham and married his sisters' childhood friend and next door neighbor, Elizabeth Holt on September 18, 1942. He was commissioned into the U.S. Navy in July of 1941 and was shipped out in April of 1942 as the Engineering Officer aboard LST 733 bound for the Philippines where he ultimately participated in the Battle of Leyte Gulf and later the occupational force in Tokyo, Japan. When his ship's Commanding Officer was killed by a stray round of enemy fire, Lieutenant Kay was promoted to Commander of his vessel and was honorably discharged from active duty in December of 1945. Upon his return home, he returned to Charlottesville, Virginia, where he served as an instructor and completed his doctoral work in the spring of 1949. Jim Kay was recruited to join the Finance Department of The University of Texas at Austin in September of 1949, where he taught Money and Banking and the Capital Markets for the next 32 years. He earned his full professorship in the mid-1950s, served two terms as the Chairman of the Finance Department, and was named a Professor Emeritus some years after retiring in 1981. His students through the years always knew that there were no easy grades under Professor Kay but often reported back as to how much they had learned and used the subject matter in their careers in the finance and banking arenas. An avid fan of the UT Longhorns during the Darrell Royal era, Jim Kay counted many UT athletes among his students. Upon retirement, he took up golf and played often with his longtime friend and colleague, Robert Smith, and friend, Gaylon Greaser, followed the Atlanta Braves daily on television, was a daily crossword puzzler, and an accomplished bridge player. Dr. Kay was predeceased by his parents Grady Talmadge and Ruth Searcy Kay of Birmingham, Alabama, and three sisters: Eleanor Stembridge and Inez Sikes also of Birmingham; and, Ruth Closs of Rhinebeck, New York. He is survived by his loving and totally devoted wife of nearly 69 years, Elizabeth, by his son, James Grady Kay and wife, Sharon Coupe, of Eagle Point, Oregon and Austin, his son Robert L. Kay and wife Susan of Austin, and his three grandchildren, each of whom he totally adored, Robert Gresham Kay and wife Lissa currently of Jackson, Mississippi, Ann Elizabeth Kay of Dallas, and James Walton Kay of Austin. James, Elizabeth and their sons were early residents of Westlake Hills where they lived for over 40 years and enjoyed many friends and neighbors. Jim Kay led a life of integrity, commitment to family, and consistent good humor. He was a member of The Episcopal Church of the Good Shepherd, having been confirmed there in his 8th decade. The family wishes to thank Dr. David Pohl for enabling us to enjoy life with our beloved husband, father, and grandfather for several additional years and the entire staff on Hall 6 of the Westminster Manor Health Center. Memorial contributions may be made to the charity of your choice or the Episcopal Church of the Good Shepherd, where a Memorial Celebration of James Kay's life will be held on Saturday, August 13, 2011 at 11:00 AM. Obituary and memorial guestbook available online at www.wcfish.com