Frank Rathje (August 20, 1882 – February 24, 1967) was a

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

banker who served as president of the

American Bankers Association The American Bankers Association (ABA) is a Washington, D.C.-based trade association for the U.S. banking industry, founded in 1875. They lobby for banks of all sizes and charters, including community banks, regional and money center banks, sav ...

and the Illinois Bankers' Association during

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

. He founded the Mutual National Bank of Chicago and the Chicago City Bank and Trust Company.

Childhood and education

Frank C. Rathje was born on August 20, 1882, in

Bloomingdale, Illinois Bloomingdale is a village in DuPage County, Illinois, United States, settled in 1833, and 25 miles northwest of downtown Chicago. The population was 22,382 at the 2020 census. History Bloomingdale is one of the earliest villages settled in what ...

, to Louisa (née Ehlers) and William Rathje of

Hanover, Germany Hanover (; german: Hannover ; nds, Hannober) is the capital and largest city of the German state of Lower Saxony. Its 535,932 (2021) inhabitants make it the 13th-largest city in Germany as well as the fourth-largest city in Northern Germany a ...

. He attended

St. John's Northwestern Military Academy St. John's Northwestern Military Academy (SJNMA) was founded in 1884 as St. John's Military Academy (SJMA) in Delafield, Wisconsin, by the Rev. Sidney T. Smythe as a private, college preparatory school. In 1995, Northwestern Military and Naval Ac ...

in 1903 but was forced to drop out due to a lack of funding. In 1959, St. John's Northwestern presented him with an honorary degree. Rathje attended night classes at

Northwestern University Law School Northwestern University Pritzker School of Law is the law school of Northwestern University, a Private university, private research university. It is located on the university's Chicago campus. Northwestern Law has been ranked among the top 14, ...

where he received his Juris Doctor. One of his first cases was before judge and Commissioner of Baseball,

Kenesaw Mountain Landis Kenesaw Mountain Landis (; November 20, 1866 – November 25, 1944) was an American jurist who served as a United States federal judge from 1905 to 1922 and the first Commissioner of Baseball from 1920 until his death. He is remembered for his h ...

. On June 19, 1946, he was given an Honorary Doctorate of Business Administration by

Northwestern University Northwestern University is a private research university in Evanston, Illinois. Founded in 1851, Northwestern is the oldest chartered university in Illinois and is ranked among the most prestigious academic institutions in the world. Charte ...

. He also received an Honorary Doctorate from

Monmouth College Monmouth College is a private Presbyterian liberal arts college in Monmouth, Illinois. Monmouth enrolls approximately 900 students from 21 countries who choose courses from 40 major programs, 43 minors, and 17 pre-professional programs in a c ...

Career

Rathje founded the Mutual National Bank of Chicago, Illinois, in 1917. Upon Rathje's death, the bank merged with the

LaSalle Bank LaSalle Bank Corporation was the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. (formerly Standard Federal Bank). With US$116 billion in assets, it was headquartered at 135 South LaSalle Street in Chicago, Illinois. LaSa ...

. Rathje was simultaneously President of the Chicago City Bank and Trust Company. These banks were 2 of the 34 Chicago banks that were allowed by the U.S. Treasury to remain open during

The Great Depression The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...

and after the banking moratorium in 1933. Rathje is credited with predicting the imminent economic collapse. He prevented a run on his banks by raising capital through the sale of bonds and commercial real estate. These achievements led Rathje to be elected president of the

in 1945, succeeding Warren Randolph Burgess of New York City. In this capacity, Rathje would consult with President

Harry S. Truman Harry S. Truman (May 8, 1884December 26, 1972) was the 33rd president of the United States, serving from 1945 to 1953. A leader of the Democratic Party, he previously served as the 34th vice president from January to April 1945 under Franklin ...

and his cabinet regarding economic recovery strategies. Rathje served as President of the Transportation Association of America and was a member of the Chicago Plan Commission from 1937 to 1954 after the passing of former commissioner

Charles Wacker Charles Henry Wacker (August 29, 1856 – October 31, 1929), born in Chicago, Illinois, was a German American businessman and philanthropist. He was Vice Chairman of the General Committee of the Commercial Club of Chicago, and in 1909 was ap ...

. Rathje's philosophy of success was expressed in five words: fairness, frankness, foresight, force, and faith. Frank rathje

Personal life

Rathje married Josephine Logan of New York City on October 16, 1915, and had four children: Theron, Josephine, Shirley, and Frank Jr. who was the Chairman of Illinois Valley Bancshares, the namesake of Rathje Hall at

Grinnell College Grinnell College is a private liberal arts college in Grinnell, Iowa, United States. It was founded in 1846 when a group of New England Congregationalists established the Trustees of Iowa College. Grinnell has the fifth highest endowment-to-st ...

and Rathje Track in

Princeton, Illinois Princeton is a city in and the county seat of Bureau County, Illinois, United States. The population was 7,832 at the 2020 census. Princeton is part of the Ottawa Micropolitan Statistical Area. Due to its location where Interstate 80 meets the ...

. Frank Rathje, Jr., died in

Fond du Lac, Wisconsin Fond du Lac () is a city in Fond du Lac County, Wisconsin, Fond du Lac County, Wisconsin, United States. The population was 44,678 at the 2020 census. The city forms the core of the United States Census Bureau's Fond du Lac United States metrop ...

on May 10, 2012. He was an uncle of Sue Rathje Block and

John Rusling Block John Rusling Block (born February 15, 1935) is a former United States Secretary of Agriculture, U.S. Secretary of Agriculture, during the Reagan administration. He later became a lobbyist. Early life Block was born in Galesburg, Illinois, on ...

, the former

United States Secretary of Agriculture The United States secretary of agriculture is the head of the United States Department of Agriculture. The position carries similar responsibilities to those of agriculture ministers in other governments. The department includes several organi ...

for President

Ronald Reagan Ronald Wilson Reagan ( ; February 6, 1911June 5, 2004) was an American politician, actor, and union leader who served as the 40th president of the United States from 1981 to 1989. He also served as the 33rd governor of California from 1967 ...

. Rathje was a philanthropist in the Chicago area. He left much of his estate to the Glenwood School for Boys and Girls located in

Glenwood, Illinois Glenwood is a village in Cook County, Illinois, United States. The population was 8,662 at the 2020 census. Geography Glenwood is located at (41.544943, -87.612052). According to the 2021 census gazetteer files, Glenwood has a total area of , ...

. Glenwood dedicated the St. Charles, Illinois, campus to the Rathje family in 2000, naming it the Rathje Campus. He served as President of the

Union League Club of Chicago The Union League Club of Chicago is a prominent civic and social club in Chicago that was founded in 1879. Its second and current clubhouse is located at 65 W Jackson Boulevard on the corner of Federal Street, in the Loop neighborhood of Chi ...

and contributed to much of the club's current art collection including the portrait of

Abraham Lincoln Abraham Lincoln ( ; February 12, 1809 – April 15, 1865) was an American lawyer, politician, and statesman who served as the 16th president of the United States from 1861 until his assassination in 1865. Lincoln led the nation thro ...

by John Doctoroff. Mr. Rathje's in-laws, Frank and Josephine Logan, were philanthropists who awarded the

Art Institute of Chicago The Art Institute of Chicago in Chicago's Grant Park, founded in 1879, is one of the oldest and largest art museums in the world. Recognized for its curatorial efforts and popularity among visitors, the museum hosts approximately 1.5 mill ...

Logan Medal of the Arts The Logan Medal of the Arts was an arts prize initiated in 1907 and associated with the Art Institute of Chicago, the Frank G Logan family and the Society for Sanity in Art. From 1917 through 1940, 270 awards were given for contributions to Amer ...

annually. Recipients of the Logan Medal include

Edward Hopper Edward Hopper (July 22, 1882 – May 15, 1967) was an American realist painter and printmaker. While he is widely known for his oil paintings, he was equally proficient as a watercolorist and printmaker in etching. Hopper created subdued drama ...

Andy Warhol Andy Warhol (; born Andrew Warhola Jr.; August 6, 1928 – February 22, 1987) was an American visual artist, film director, and producer who was a leading figure in the visual art movement known as pop art. His works explore the relationsh ...

and

Willem de Kooning Willem de Kooning (; ; April 24, 1904 – March 19, 1997) was a Dutch-American abstract expressionist artist. He was born in Rotterdam and moved to the United States in 1926, becoming an American citizen in 1962. In 1943, he married painter El ...

. He was a member of the

Freemasonry Freemasonry or Masonry refers to fraternal organisations that trace their origins to the local guilds of stonemasons that, from the end of the 13th century, regulated the qualifications of stonemasons and their interaction with authorities ...

Medinah Temple The Medinah Temple is a large Moorish Revival building in Chicago built by Shriners architects Huehl and Schmidt in 1912. It is located on the Near North Side of Chicago, Illinois at 600 N. Wabash Avenue, extending from Ohio Street to Ontari ...

Beverly Country Club The Beverly Country Club, located in the American city of Chicago, Illinois, is one of Chicago's historical cornerstones. The club was founded in 1908 and initially designed by George O'Neil, also the club's first professional golfer. Shortly after ...

, South Shore Country Club and The Chicago Club. Rathje was an avid hunter and fisherman having hunted in every state west of the

Mississippi River The Mississippi River is the second-longest river and chief river of the second-largest drainage system in North America, second only to the Hudson Bay drainage system. From its traditional source of Lake Itasca in northern Minnesota, it f ...

and many countries around the world. He served as President of the Big Sand Lake Hunting and Fishing Club in

Phelps, Wisconsin Phelps is a town in Vilas County, Wisconsin, United States. The population was 1,010 in 2018. The unincorporated community of Phelps is located in the town. Demographics As of the Census Bureau's American Community Survey in December 2019, there ...

and was a member of the Adventurers' Club of Chicago, a spin-off of the

Adventurers' Club of New York The Adventurers' Club of New York was an adventure-oriented private men's club founded in New York City in 1912 by Arthur Sullivant Hoffman, editor of the popular pulp magazine ''Adventure''. There were 34 members at the first meeting. In its se ...

. Rathje owned several cattle and grain farms in rural

Illinois Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...

. He served as President of the

Percheron The Percheron is a breed of draft horse that originated in the Huisne river valley in western France, part of the former Perche province from which the breed takes its name. Usually gray or black in color, Percherons are well muscled, and k ...

Horse Association of America and was a member of the Saddle and Sirloin club.http://www.livestockexpo.org/docs/SSClub/biosPQR.pdf

References

{{DEFAULTSORT:Rathje, Frank C. 1882 births 1967 deaths American bankers American Bankers Association American people of German descent People from Bloomingdale, Illinois Businesspeople from Chicago Farmers from Illinois Illinois lawyers Northwestern University Pritzker School of Law alumni 20th-century American businesspeople