NATIONAL RECOVERY ADMIINISTRCATION
CODE OF FAIR COMPIEkTITION
DRCOP FORGINGa INDU-STRY~
AS APPROVED ON AUGUST 1, 1934
For sale by the Superintendent of Documents, Washington, D.C. - Price 5 center
Approved Code No. 423--Amendment No. 1
Registry No. 1110--0S
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Approv-ed CoPde No. 423--Amendment ]No. 1
AMSENDM~ENT TO CODHE OF FAIR COMPETITION
D)ROP FORGING INDUSTRY .
As Approved on August 1, 19341
APPROVING AMEINDMIENT OF CODE OF FAIR COMPETITION FOR THE DROP
An appllicatiorn hlavingr been duly made pursuant to and in full
comlpliance with~ the pr~ovisions of Title I of the Nliational Indlustrial
Recov-ery Act., alpprov-ed June 16, 1933, for approval of an amend-
ment to a Code of Fair Competition for the D~rop F'orging Industry,
andi opportunity~ to b~e h~eardl having been afforded all members of the
Industryy! and no ob:jec~tions having been filed, and the annexed report,
on saidl amnenldment, containing findiings with respect thereto, having
been made and directed to the President:
NOW\, THER~FORE, on behalf of the President of the UTnited
Sf;tats, I, Hugh S. Johnlson, Administratorol for Industrial Recovery,
pursuant to authority vested in me by Executie Orders of the Presi-
dent, including Executive Order No. 6.543-A, dated December 30,
1933, and otherwise, do thereby incorporate, by reference, said an-
nexedl report and dlo find that said amendment and the Code as con-
stittedafte beng aendd coplyin all respects with the perti-
nent provisions alnd will promnoteth policy and purposes of said
Title of sa7id A~ct, and do hereby order that said amnendment. be and
it is h~ereby approved, and that the previous ap~prova~l of said Code
is he~ebyv mioditied to include an approval of said Code in its entirety
Hanc S. JoHNSON
Administrator for Indulzsftrial Recovery.
Approval recommended :
Ba~RTow W~. IURRAY)
A uguCS't 1, 1934S.
77'610"-1044~l -7-34 (1)
REEPORT T1CO TIHE PRESIDENT
The `Cihite House.
Smr: Thnis is a report on the amendment to the Code of Fair Com-
petition for the Drop ]Forging Industry. Notice of opportunity to
be heard was sent to all members of the Industry~ on July 2, 1934,
and no objections were filed with the Administration. The amend-
m~ent, which is a~ttachedl, was pr~esentedl by the Code Authority.
The Code of Fair Competition for the Drop F~orging Industry
provides in Article IX, Sect ion 2 that
This Code, except as to provisions required by the Act, ma.y be
modified or amrend~ed from time to t ime, such modlifications or amend-
ments to be based upon application by .the Code Aulthority to the
Admninistrator and such notice and hearing as he shall specify, and
to become effective on approval of the Admlinistrator."
TChis amlendmenrt- provides that Section 4 of Alrticle VI be de-
letedl and thlat certain provisions be inserted to facilitate the collec-
tion1 of assessments from each member of the Industry.
The -Assistant D~eputy Adcministrator in his final report to me on
said ametnlfment to said Code having found as herein set forth and
on the basis of all the proceedings in this matter:
I find thalt:
()Thne aImndmnent t~o said Code and the Codle as amended are
well dsignedc to promlote the policies anrd purposes of Title I of
the National Indcustrial Rtecovery Act inc~ludiner the removal of
obstructions to the free ~flow of interstate and Foroeign commerce
whichl tend to diminish the amount thereof, and will provide for the
general welfare by promoting the organization of industry for the
purpose of! cooperative action amng0~ t~radeP groups,~ by induci~ng and
maintaining united action of labor and mlanagement under adequate
governmentall salnction andl sup~ervision, by ehmmnating unfair com-
petitive practices, b~y promoting the fullest possible utilization of
thze present productive enpancity of industries, by avoiding undue
restriction of production (exscept as may be temporarily requiredd,
by increasing the consumption of industrial and agr~icu~ltural prod-
ucts through increasing purchasing power, byT reducing and r~elier-
ing unemployment, byT improving st~andlards of labor, and by
otherwise rehabilitatingr industry.
(b) The Code as'amendedl complies in all respects with the pert~i-
nlent provisions of said Title of said Act, including without limitation
Subsection (a)' of Section 3, SurbsectionI (a) of Section 7 and Sub-
section (b) ofSect ion 10 thereof.
(c) The Code empowerls the Code Author~ity to present thle afore-
said amendment on behalf of the Industry as a wvhole.
(d) The amendment and the Code as amended are not designed
to and will not permit monopolies or monopolistic practices.
(e) The amendment and the Code as amended are not designed
to and will not eliminate or oppress small enterprises and will not
operate to discriminate against them.
(f) Those engaged in other steps of the economic process havre
not been dieprived of the right to be heard prior to approval of said
For these reasons, therefore, I have approved this amendment.
HUGH S. JOHNSON,
AUGUST i, 198*(.
AMIENDMENIT TO COD)E OFi F~AIIR COM[PETIT'IION FOR
T~HE DROP FORGING INDUSTRY
Amend said Code by striking out Article VI, Section 4 and
inserting in place of said Section the following Armendm~ent:
1. It being found nIecessary in order to support the administration
of this code and to maintain the standards of fair competition estab-
lish-ed~ hereundcr and to effectuate thre policy of thre Atct, the Code
Authority is authorized:
(a) To incur such reacsonalble obligations as are necessary and
prope~rr for the foregoing purposes, and. to meet such obligations out
of funs which may be raised as hlereinafter provided andl which
shall be held in trust for the purposes of the Code;
(b) To submit to the Atidministrator for his approval, subject to
such notice and opportunity to be, heard as he may deemn necessary
(1) an. itemized budget, of its estimated expenses for the foregoinga
purposes, and (2) an equitable basis upon which the funds necessary
to support such budget shall be contributed by .members of the
(nut~c) Afjter such budget and basis of contribution have been ap-
provedl by the Admlinlistra~tor, to determine andc obtain equitable con-
tribution as above set forth by all members of the Industry, and to
that end, if ne~cesslr~y, to institute legal procee~ding~s therefore inl its
2. Each membercl of the industry shall pay his or its equitable con-
tribution to the expenses of t~he mailntenalnce of th~e Code Authlority-,
determined as hereinabove provided, and subject to rules and regula-
tions pertaining thereto issued by the Administr~at~or. Only memn-
bers of the industry complying wi~th~ the code and contributing to the
expenses of its administration as hiereinabove provided, unless duly
exremnpted from making such contributions, shall be entitled to par-
ICqticipate ~inJ the selection of members of the Code Authority or to
maeuse of any emblem or insignia of the Nationlal Recovery
3. The Code Authority shall neither incur nor pay any obligaation
in excess of the amount thereof as estimated in. its approved budget,
except upon approval of the Adminristrator; and no subsequent
budget. shall contain any deficiency item for expenditures in excess
of prior budget estimates except those which the Adcminis~trator shall
have so approved.
Approved Code No. 423--Amendment N~o. 1.
Registry No. 1110-02.
UNIVERSITY OF FLORIDA
3 `1262 08856 0585