1954
Insured Credit Services (ICS) is incorporated on July 28th in Delaware with the efforts of 4 investors and $5,000. Mr. Arthur J. Frentz, formerly the Assistant Commissioner of the Federal Housing Administration, serves as the first president.
The company insures only home
improvement installment sales
contracts and loans up to a maximum
loan amount of $5,000.
Arthur J. Frentz with his staff.
In other news:
The first successful kidney transplant
occurs at Boston's Peter Bent Bingham Hospital and
the Nobel Prize for Literature is awarded to Ernest
Hemingway.
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1956
ICS moves from 1518 Walnut Street in Philadelphia, Pennsylvania to 307 N. Michigan
Avenue in Chicago, Illinois.
In other news:
The first television station to broadcast its local programming in
color is WNBQ Chicago and IBM invents the first hard disk (5MB).
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