GROWTH OF ROTARY.
NEED FOR FINANCE.
£2,000,000 AS OBJECTIVE.
LIFE INSURANCE SCHEME. By Telegraph—Press Association —Copyright. (Received March 20, 9.15 p.m.) SYDNEY, March 20. At the Rotary Conference to-day Mr. Charles Rhodes, of Auckland, spoke of the rapid development and expansion of the movement and the consequent need for finance. Rotary was now established in 62 countries, said Mr. Rhodes, and an endowment fund was a necessity. They had as their objective a sum of £2,000,000, which would yield £IOO,OOO a year. There was a proposal for a protective insurance scheme. Mr. Rhodes said he believed many Rotarians would endorse such a fund and that in 10 or 12 years the goal would be reached. The most tangible method would be through life insurance on the endowment plan whereby a club could take out a 10 years' policy on a member's life and pay the premium until death or maturity.
At the conclusion of the conference the national flags of Japan and America were presented to the chairman, Mr. A. C. C. Holtz, of Melbourne. A luncheon was given to the overseas delegates by the Sydney Chamber of Commerce. The principal speaker was Sir Henry Braddon, and others included Mr. Rhodes and the Japanese delegates.
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Bibliographic details
New Zealand Herald, Volume LXVII, Issue 20519, 21 March 1930, Page 13
Word Count
205GROWTH OF ROTARY. New Zealand Herald, Volume LXVII, Issue 20519, 21 March 1930, Page 13
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