On 2nd thought I think I heard about Ritt from a conversation with Rota. Which reminds me of a related one of his "indiscrete thoughts". In the old days many analysts also thought proofs using
formal power series were meaningless numerology. Believe it or not such misunderstanding can even exist here and now, e.g. see
this thread, where a (now deleted) answer got many upvotes before a correct answer was posted.