International Telephone and Telegraph Corp. - ITT - Stock Certificate
Inv# GS1148 Stock
Telephone and Telegraph Stock printed by American Bank Note Company. Female seated with winged wheel and globe. Scarcer older type. Please specify color.
ITT Inc., formerly ITT Corporation, is a global manufacturing company based in White Plains, New York. Founded in 1920 as International Telephone & Telegraph, ITT grew through numerous acquisitions, becoming a conglomerate with diverse interests. The company has since divested its telecommunications and defense businesses, focusing on specialty components for various industries.
ITT faced a scandal in 1972 when a memo linked its political contributions to a favorable antitrust settlement, leading to the withdrawal of support for the Republican National Convention. Despite initial success, ITT’s ambitious System 12 telecommunications project ultimately failed, leading to the sale of its telecommunications businesses in 1986. Over the following decades, ITT underwent significant restructuring, selling off various divisions and facing legal challenges, including a conviction for violating the U.S. Arms Export Control Act. ITT Telecommunications was transferred to Alcatel in 1986-87, and the consumer electronics division was sold to Nokia in 1988. Since 2006, the ITT brand is licensed to Karcher.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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