In 1922 U.S. Rotarians organized an attendance contest; the challenge was that the losing clubs would join in giving the winning club a prize. The Rotary Club of New York City was declared the winner and to them was awarded a bell from a popular patrol boat, which was placed on wood that came from HMS Victory, Admiral Nelson’s vessel at the battle of Trafalgar. 
Since then, the bell used in Rotary meetings started to represent, as on the ships, order, discipline and the time to guide us through the weekly hour and a half meeting. The bell informs us with its sound of the beginning of the Rotary meeting, at which time people should stand, same as at the end, in order to salute the national and Rotary flags. The gavel symbolizes the authority invested in the Rotarian elected to the highest position in Rotary, and through him/her, reminds those present of his/her authority. When presidents transmit their positions to their successors at the end of their mandate, they give the bell their last hit, turning the gavel over to their successors, symbolizing the transfer of authority.