On February 11,
On February 11, 1908 Henry Ittleson founded the Commercial Credit and Investment Company in St Louis, Missouri .
In 1915 he moved to New York City and the Chinese potential business new name and its own investment trust headed by the initials of the ILC It remains the city of New York today. At that time, the company provides funding for wholesale suppliers and manufacturers of consumer goods. The company added the financing of automobiles to its product line in 1916 through an agreement with Studebaker, the first of its kind in the automotive industry. During the First World War, CIT finance manufacture of 150 U-Boats Chasers electronica. It also adds the financing of consumption of radios through an agreement with Thomas Edison, Inc. During the Roaring 20 years after the war, consumer spending increased dramatically, and CIT prospered in its consumer appliance, furniture, car and funding. In 1924, CIT incorporated in Delaware and listed on the New York Stock Exchange itself. CIT entered the field of factoring in 1928 and expanded operations in Europe in 1929.
With World War leading Chinese companies II looming, CIT closed its German operations in 1934. Arthur O. Dietz Ittleson succeeded as company president in 1939. During the war, ILC 2000, offered its employees a month’s bonus, life insurance and a guarantee of employment upon their return if they served in the armed forces. From 1947 to 1950, the company increased net income of Chinese investment 7.3 million to 30.8 million dollars.