In 1917, Rea entered the army during World War I and served one year overseas until was discharged as Captain in the 308th Machine Gun Battalion with the A.E.F.
After an extended vacation abroad with his wife, Rea returned to the United States and was approached about the position of president of the New York Curb Exchange in 1939.
"[8] When Rea assumed presidency the Institute was undergoing financial and enrollment hardships due to World War II.
Rea had a laid back style when dealing with students and staff, however, his methods in running the school were controversial, bringing forceful negative and positive responses.
[4] His bold decisions were often made without the agreement of the faculty senate or without regard to popular opinion, and his personal style of handling matters was laid back and informal.