Evening star., 1948-03-05
RenfschIer Gave Life
To Service Of Public
In Private Capacity
kationoI City Bank Head
Ployed Significant Part
In U. S. Economic Field
By David Laurence

When o man prominent in. public
hfe passes away, the eulogies on his
service TO the people are numerous.
When q man dies who has served
the public In q private capacity,
nodestly, without publicity and with
q rare devotion to duty, there Is I'M
fortunately not the same recogni-
ton"
Gordon s. Rentschler, chairman
Of the board Of the National City
Bank, who died Wednesday, was
known to relatively few Americans,
but he played q significant part in
the economic life of America. Many
an official Of the Treasury Depart
ment here will recall the earnest
service he rendered in his quiet
way In determining the factors that
often had to be analysed before
the Government could float large
issues of bonds.
Here was q man whose advice to
Government was always given with
the deepest sincerity because he be-
heved thoroughly that private A.
nance and governmental operations
were not incompatible and that the
public interest could be served by
an intelligent understanding OF
both.
Respected by Colleagues.
Here was man, too. whose ad-
vice to private industry was blunt
and realistic. Many an Industrial
ist came to him to discuss problems
Of the day. He was o busy man, but
he gave of himself to others with q
sustaining power that In the end
broke down his health.
Here was man, too, who won
the lasting respect Of his banking
colleagues. Ever since he was made
chairman Of the Clearing House in
New York during the fateful days
of the bank holiday in 1888, Gordon
Rentschler rendered service that
will not be forgotten by those who
worked with him.
Here was man who almost never
made public speech, who never
sought publicity of any kind, who
never really sought applause from
any quarter-a truly remarkable
personality who differed so COM
pletely from men in public service
that one wondered at times what
was the incentive that kept him
working so hard.
There is often discussion rs to
what are the rewards in business
and finance. The general impress
sion is that financial compensation
L. the goal and that the men who
occupy responsible positions are
thinking only in money terms
Gordon Rentschler never gave con-
sideration to compensation for him.
self but thought great deal about
compensation for others.
Here was a man who never was
too busy to worry about individual
employees In his large organization
and never SO satisfied with his serv-
Ice to the shareholders of his in
stitution as to stop at a given point
and accept relaxation or a pause.
He built up the National City Bank
to be the largest bank in the largest
city In the world. He was one of
the few individuals in banking in
recent years who came to the
financial district from the industrial
world. He knew the heavy-machin-
cry business from his early years
in foundry in Hamilton, Ohio, his
home. He knew the Midwest and its
industrial operations as few men
In either industry or finance know
them today.
Long Service to Princeton.
Besides his hard work for a busi-
ness institution, Gordon Rentschler
gave long service to Princeton Uni
versity. from which he was grad
uated and where he was q charter
trustee. He served also rs trustee
for the Massachusetts Institute Of
Technology and was recently elected
q trustee of the scientific foundation
known as the Carnegie Institution
Of Washington.
There are no clippings that tell
Of his work for others. There are
no brochures that describe his con-
tributions to the many institutions
that he served unselfshly and dis
interestedly. Here was a man who
lived a useful 1ife-a life of benefit
to others-and who worked so hard
that.at the age of 81 the tension
under which he had labored broke
him down. He was q casualty of
many a midnight conference in
banking and Government circles
when matters Of high policy and
tremendous responsibility were at
stake. He departs as one of the
unsung heroes of great career
unknown to the public at large but
a personality indelibly impressed on
those who did know his character
and integrity. He was a servant of
the people as much as any man who
served in public Office.
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