Frank Rathje

Background

Rathje was born in Bloomingdale, Illinois, to William and Louisa Rathje of Hanover, Germany.

Education

He attended Saint John"s Northwestern Military Academy in 1903 but was forced to drop out due to a lack of funding. Rathje attended night classes at Northwestern University Law School where he received his Juris Doctorate.

Career

He founded the Mutual National Bank in Chicago and was President of the Chicago City Bank and Trust Company. In 1959, Saint John"s Northwestern presented him with an honorary degree. One of his first cases was before judge and Commissioner of Baseball, Kenesaw Mountain Landis.

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

He also received an Honorary Doctorate from Monmouth College. Rathje founded the Mutual National Bank of Chicago, Illinois, in 1917.

Upon Rathje"s death, the bank merged with the LaSalle Bank. Rathje was simultaneously President of the Chicago City Bank and Trust Company.

These banks were two of the seven Chicago banks that were allowed by the United States. Treasury to remain open during The Great Depression.

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. In this capacity, Rathje would consult with President Harry South. Truman and his cabinet regarding economic recovery strategies.

Achievements

• These achievements led Rathje to be elected President of the American Bankers Association in 1945 succeeding Warren Randolph Burgess of New York City.

Membership

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.