------------------------------ OMB APPROVAL ------------------------------ OMB Number 3235-0287 Expires: 12-31-2001 Estimated average burden hours per response ....... 0.5 ------------------------------ U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 4 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 ______________________________________________________________________________ 1. Name and Address of Reporting Person* Mitchell James Kenneth ______________________________________________________________________________ (Last) (First) (Middle) 9710 Scranton Rd. Ste. 100 ______________________________________________________________________________ (Street) San Diego CA 92121 ______________________________________________________________________________ (City) (State) (Zip) ______________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol Fechtor, Detwiler, Mitchell & Co. (Nasdaq: FEDM) ______________________________________________________________________________ 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) ______________________________________________________________________________ 4. Statement for Month/Year 07/2000 ______________________________________________________________________________ 5. If Amendment, Date of Original (Month/Year) ============================================================================== 6. Relationship of Reporting Person to Issuer (Check all applicable) [X] Director [_] 10% Owner [X] Officer (give title below) [_] Other (specify below) Chairman and Chief Executive Officer ______________________________________________________________________________ 7. Individual or Joint/Group Filing (Check applicable line) [X] Form filed by 1 Reporting Person [_] Form filed by more than 1 Reporting Person ______________________________________________________________________________ ============================================================================== Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ==============================================================================

6. 4. 5. Owner- Securities Acquired (A) or Amount of ship 3. Disposed of (D) Securities Form: 7. Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of 2. Code -------------------------- Owned at End (D) or Indirect 1. Transaction (Instr. 8) (A) Price of Month Indirect Beneficial Title of Security Date ---------- Amount or (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr. 4) (Instr. 4) ----------------------------------------------------------------------------------------------------------- Common Stock 0507/2928/2000 S*P 15,~~400,~~000 DA $10.00875 1705,212,000**226 D ----------------------------------------------------------------------------------------------------------- Common Stock 07/31/2000 P 1,700 A $0.875 705,226 D ----------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- ===========================================================================================================

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Print or Type Responses) (Over) SEC 1474(3-99) FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ============================================================================= 10.

Explanation of Responses: /s/ James K. Mitchell 08/10/2000 --------------------------------------------- ----------------------- **Signature of Reporting Person Date ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Page 2

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