Capital Services and Investment was founded in 1847 by a consortium of industrialists and financiers headed by Salmon P. Chase. Chase and his partners were convinced that war between the North and the South was inevitable, and acting on this belief they spent much of the next decade creating the bond and capital markets essential for funding a public works project on a scale as vast as that of the Civil War. When conflict came in 1861 CSI was well positioned to provide both the United States and the Confederacy with the financial expertise and liquidity necessary for conducting a modern, extended campaign.
Reconstruction provided a new set of challenges and opportunities, and CSI's wartime experience made it the obvious candidate for managing and directing the rebuilding of the Southern economy. Working closely with local and regional partners, CSI successfully coordinated the reintegration of North and South as both social and economic partners. It was during this time that the firm began venturing beyond its core financial services business, and by 1890 CSI counted among its holdings the most vertically integrated cotton producing and processing entity in the Western hemisphere.
At the close of the nineteenth-century CSI was the leading American financial institution, and its equity partners were understandably content simply to continue in that role. But after a raucous partnership meeting in Princeton, New Jersey it was decided that CSI's financial units would be spun off, with CSI maintaining a majority stake in each. On January 1, 1902, CSI's equity unit became an independent entity under the leadership of a brilliant young trader named J.P. Morgan, while CSI's bond unit moved into its new headquarters at 5 Wall Street where the brothers Charles and Foster Salomon assumed management of the operation.
The reorganization was a fantastic success. A new generation of CSI directors chose to focus the firm's resources on scientific research and development, with an emphasis on identifying military and security applications. This strategic vision, anticipating as it did a century of conflict between states wielding increasingly advanced technologies, enabled CSI--renamed IOscream Enterprises in 1938--to build profitable partnerships with the most powerful government and NGO bodies.
IOscream labs and researchers have a reputation for pioneering work in the most exciting fields of contemporary scientific research, and just as noteworthy are the IOscream alumni who have contributed to the understanding and harnessing of the natural world. These individuals include the inventor of the transistor, the discoverers of the double helix nature of DNA, and the developer of the hydrogen bomb. In May of 1999 the COO of IOscream Enterprises was presented with a special presidential citation signed by President Clinton, commending the firm for "the key role [it] has played in building and sustaining the American Century."