For sale by the Superintendent of Documents, Washington, D. C. - Price cents
Approved Code No. 277--Amendment No. 2
Registry No. 1111--04
NATIONAL RECOVERY ADMINISTRATION
CODE OF FAIR COMPETITION
GRAY IRON FOU7NDRY
AS APPROVED ON NOVEMBER I, 1934
L~~L Yi II-
GOVERNMENT PRINTING OFFICE
This publication is for sale by the Superintendent of Documents, Government
Printing Office, Was-hingrton, D. C., and by district ofilees of the Bureau of Foreign
and D~omestic Commerce.
DISTRICT OFFICES OF THIE DEPARTMENT OF COMMCER
Atlanta, Ga.: 504 Post Office Building.
Birmingham, Atla.: 257 Federal Building.
Boston, 111as4.: 1801 Customhouse.
Buffalo, N. Y.: Chamnber~ of Comlmerce Building.
Charleston, S. C.: Chamober of Commerce Building.
Chicago, Ill.: Suite 1706, 201 North Wells Street.
Cleveland, Ohio: Chamber of Commerce.
Dallas, Tex.: Chamber of Commerce Building.
D~etroit, Mlich.: 801 Fiirst National Bank: Building.
H~ouston, Tex.: Chambl.er of Commerce Building.
Indlianapolis, Ind.: Chamber of Commerce Building.
Jacksonville, Fila.: Chamber of Commrerce Building.
K~ansas City, Mo.: 1028 Baltimoore Avenue.
Los Ange~les, Callif.: 1163 South Broadway.
Louisville, Ky.: 408 Federal Building.
Memphis, Tenn.: 229 Federal Building.
~inulenponlis, Mlinn.: 213 Federal Building.
New Orleans, La.: Room 225-A, Custombouse.
New YZorkr, N. Y.: 734 Custombouse.
Norfolkr, V~a.: 406 East Plume Street.
Philadelphia, Pa.: 422 Commercial Trust Building.
Pittsburgh, Pa.: Chamber of Commerce Building.
Portland, Oreg.: 215 NewFc Post Of~fice Building.
St. Louis, Mo.: 506 Olive Street.
San Fr~ancisco,. Calif.: 310 Customhouse.
Seattle, Wash.: 809 Federal Office Building.
Approved Code No. 277-Amendment No. 2
AMRENDEMENJT TO` CODE OF FAIR CO~MPETITI[ONS
GR~aAY IRON FOUNIJDRY IND)USa.]TRY
As Approved on November 1, 11934
APPOVINGr ACMEND1MENT OF CODE OF FAIR COMPETITION FOR THIE GRAY
IRON FOUNDRY INDUSTRY
~An application having been duly made pursuant to and in full
compliance with the provisions of T'itle I of the National Industrial
Recovery Act, approved June 16, 1933, for approval of an amend-
ment to a Cod~e of ]Fair Comnpetition. for th~e Gray Iron. Foundry In-
dustry, and hearings having been duly held thereon and th~e annexed
report on said amendment, containing findings with respect thereto,
having be~en made and directed to the Pr~esidlent:
NOW,`Ct TH-IERIEFORE, onl behalf of th~e President of the United
States, the NP~ational Industrial ~Recovery Board, pursuant to author-
ity vested in it by Executive Orders of the President, and otherwise;
does hereby incorporate, by reference, said annexed report and does
find that said amendment and the Code as constituted after being
amended comply in all respects with thne pertinent provisions and
will promote the policy and purposes of said title of said act, and
does hereby order that said amendment be and it is hereby approved,
and that tlhe previous approval of said Code is hereby amended to
include an approval of said Code in its entirety as amended.
NATlIONAL INDUSTRIAL RECOVERY BOARD,
By W. At-. HfARRI1MAN, Adminf~itrativ~e Oif)oer. .
Approval recommended :
BBRTNo W. ManaRBI
Division A1 dminitraltor.
WASgHINGTON, D. C.,
November 1, 1'934.
REPORT TO T'HIE PRESIDENT
Th~e White HPowe.
SIn: This is a report on an amendment to the Code of Fair Com-
petition for the G~ray Iron Foundry Industry, the Code having been
appro'vedl byT your Order of February 10, 1934.
Notice of Op~portunity to be Heard on this amendment was duly
posted to all interested parties providing an opportunity to file objec-
tions, and one objection was received which was given due consid-
e Pn tilOH .
The Code is amended to incorporate the mIodlel Price Filing Pro-
vision and the Destructive Price Cutting Pr~ovision~.
The Assistanlt Deputy Admninistrator in his final report to the
National Industr~ial Recovery Boar~d on said amlendmnent to said Code
haivingr foundl as herein set forth and on the basis of all the p~roceed-
ings in this matter:
It is found that:
(a) The amiendmienit to saidd Code and thle Code as amended are
well designed to promote the policies and purposes of Title I of the
National Industrial Recovery Act including the remnoval of obstruc-
tions to the free flow of interstate and foreign conunercel~ which tend
to dlimlinli h the amlount thler~eof, atnd will provide for the general wFel-
fare by pr~omut~ing the organizations of industry for the purpose of
cooperaltive action of labor and malnagemlent ulnder adecqulate govern-
mental sanctions and supervision, byr elimninatinga unfair c~ompyetitive
practices, by promoting the fullest possible utilization of thte present
produc~tiv-e capacity of industr~ies, by avoiding undue restriction of
production (except as may63 be temlporar~ily r~equiredl), by increasing
the consumptinpil of indlustriai l and agricultural products through in-
creasmng purchasing powe~rl, by r~edu~cingr and relieving ulnemnploymntn
by imlprovringr standards of labor, anbd by otherwise rehabilitation
(b) The Code as amelndedr complie-; in all respects with the perti-
.nenlt p'croisions of said Title of said Acet, including without himita-
tion sub-section (a) of Scec~tion. 3, sub-seictionI (a) of Section 7 and
sub-secction (b) of Section 10 thereof.
(c) The Code empowerls the Code Authority to present thre afore-
said amlendlment on behalf of the Industry as a whole.
(d) The amnendmlent andl the Code as amnendled are not designed
to and will not permit mo~nop~oliei; or monopolistic practices.
(e) The amendment and the Code as amniPider are not designed to
and will not eliminate or oppress small enterprises and will not
operate to discriminate against them.
(f) Those engagedt in other steps of the economic process have not
been dleprivedl of the r~ight to be heard prior to approval of said
(7 Iencllnen t..
Th~erefore, for these reansons. th~is anllnendinent has been. approved.
Eior the Naltio~nal IndlustrinI Recovery Board:
W. A". HARRIMAN,
NiO'VEMBER~ 1, 1934. ceiie rvc fkr
AMENDMENT TO CODE O1F' FAIR COMPETITION F'OR
TH3E GRAY IRON FOUNDRY INDUSTRY
Amnend Atlrticle VI, Section 1. by adding thereto thre following Sub-
Section (9) :
(9) If 75%o of the members and of the tonnage of members of any
agency or any territorial subdivision or product classifications, here-
after referred to as G~roup ", formed in accordance with the provi-
sions of Sectlion 2 of Airticle III so desires, each member of the
Industry manufacturing products falling within. such subdlivision or
classification shall, within ten (10) days after notice of such deter-
mina~tion, file with the agencyS prices and all other terms and condi-
tions of sale with respect to such products in accordalnce with the
(a) Each member of the group shall file with a confidlential and
disinterested agent of the Code Authority idlentified lists of all of
his prices, discounts, rebates, allowannces annd all other terms or con-
ditions of sale, hereinafter in this article referred to as price
terms ", which lists shall completely and acc~urately conform to and
represent the individual pricing practices of said member. Such~ lists
shall contain the price terms for all such standard prod~ucts of the
group as are sold or offered for sale by said member aznd for such
nonl-sitandarld products of said member as shall be designated by the
Code Authority. Said price terms shall in the first instance be filed
within thirty (30) days after the dante of approval of this provision.
Price terms and rev\isedc price terms shasll become effective imme-
dliately upon receipt thereof by said agent. Immediately_ upon re-
ceipt thereof, said agelt. shall by telegrariph or other equally prompt
means notify said member of the time of' such receipt. Such lists
and revisions, togrether with the effective time thereof, shall upon re-
ceipt be imm~ed~iately and simultaneously distributed to all members
of the group, and to all of their customers who have~ applied therefore
and have offered to defray the cost actually incurred fby the Code
Authority in the prcparatiicn and distribution thereof and be avail-
able for inspection by any of their customers at the! office of such
agent. Said lists or revisions or any part thereof shall not be mlade
available to any person until relenced to all members of the group
and their customers, as aforesaid; provided, that prices filed in the
first instance shall not be reflense until the expiration. of the afore-
said thrirty (30) day period after the approval of this provision. TIhe
Code Authority shall maintain a permanent ~file of all price terms
filed as herein provided, and shall not destroy any part o-f such rec-
ords except upon wrlittenl consent of the Admlinistr~ator. Upon1 re-
quest the Code Authority shall furnish to the Adm~lrinistrator or any
duly designated agent of the Admninistrator copies of anly such lists
or revisions of price terms.
(b) W1hen any member of the group has filed any revision, such
member shall not file a higher price within forty-eigrht (48) hours.
(c) No member of the group shall sell or offer to sell any products
and/or services of the group for which price terms have been filed
pursuant to the provisions of this Article, except in accordance w~ith
such price terms.
(d) N~o member of the Industry shall enter into any, agareemlent,
understanding, combination or conspiracy to fix or manintain price
terms, nor cause. or attempt to cause any member of the Industry to
change his pr>zice terms by t~he use of intimidation, coer~cion, or any
other influence inconsistent with the maintenance of the fre and
open market which it is the purpose of this Article to create.
Amend Article V~I by adding thereto the following Sections 2
SECTION 2. The standards of fair competition for the industry
writh reference to pricing practic-es are dlclleare to be as follows:
(a) W ilfully destructive~ price cutting is an unfair method of comn-
petition andi is for~biddlen. A~ny member, of the industry or of any
other industry or the customers of either may at any time complain
to the Code Authority that an' HIled price constitutes unfair com-
petition as destructive price cutting, imnperilingr small enterprise or
tending toward mnonopoly or t~he impairment of code! wages and
working conditions. The Codle Authority shall within 5 days afford
an opportunity to the member filing t~he price to answer such com-
plaint and shall within 14 days make a ruling or adjustment thereon.
If such ruling is not concur~red in by either party to the comnplaint,
all papers shall be referred to th-e Riesearch and Planning Division
of NRA which shall rendler a r~epot~ and recommendation thereon
to the Nationial Industriail Recovery Board.
(b) W'hen no declared emnergncy exists as to anyS given product,
there is to be no fixed minimum ba~sis for prices. It Is intended that
sound cost estimating mnethodsc should be used and that consideration
should be given to costs in the dletermination of pricing policies.
(c) When an emer~gen~cy exists as to any givren productt, sale below
the stated minimum price of suchl produ~lct, in- violation of Sec~tion
3 hereof, is forbidden.
SECTION 3. Emlerg5;encU' Pr'1;'ovialone- (a) If thet Nationlal Indtustrial
Recover~y Board, after invesjtigation shaill at any time find both (1)
that an emergency has arisen wit.hin the industry adversely affec~tinga
small enterprises or wages or labor conditions, or tending toward
monopoly or other acute conditions which tend to defeat the pur-
poses of the ALc~t; andl (') that. thle dletermninationl of the stated mi-ni-
mlum price for a splecified pr~odulct within the industry for a limited
period is necessary to mitigate the conditions consitituting such emer-
gency and to effectuate thle purposes of the ASct, the Code Authorit~y
mnay cause an1 imlportial agency to inv'estigalte costs and to recommlend
to the National Industrial Recovery~ Board a determination of the
stated minimum price of the product. affected by the emergency and
thereupon the National Industrial Recoverg 1Board may proceed to
determine suchi stated minimum price.
(b) When the National Industr~ial Rec~overy Board shall have
determined such stated m~inimuml pr1ice for a specified product for a
stated period, which price shall be renaonably calculated to mitigate
the conditions of such emnergency and to effectuatee the purposes of
the National Industrial RecoveryI Act, it. shall publish such pr~ice.
UNIVERSITY OF FLORIDA
6 3 1262 08856 0544
Ther~eaft~er, during such stated period, no member of the industry
shall sell such specified products at, a net realized price below said
stated minimum price and any such sale shanll be deemed destructive
price cutting. Firom time to time, the Code Authority may recom-
mlend review~ or reconsideration or the National Industrial Recovery
Board maty cause anly determinat~ions h~ereundecr to be reviewed or
reconsideIrdc c and appropriate. action taken.
Approved Code No. 277-A8mendment No. 2?.
Regi~stry No. 1111-04.