NATIONAL RECOVERY ADMINISTRATION
CODE OF FAIR COMPETITION
WOOL TEXTILE INDUSTRY
AS APPROVED ON OCTOBER 27, 1934
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Code No. 3-Amendment No. 3
Registry No. 286--04
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Approved Code No. 3-Amendment No. 3
AMENDMENT TO CODE OF FAIR COMPETITION
WOOL TEXTILE INDUSTRY
As Approved on October 27, 1934
APPROVING AMENDMENT OF CODE OF FAIR COMPETITION FOR THE WOOL
An application having been duly made pursuant to and in full
compliance with the provisions of Title I of the National Industrial
Recovery Act, approved June 16, 1933, for approval of an amend-
ment to a Code of Fair Competition for the Wool Textile Industry,
and a notice of opportunity having been issued and the annexed
report on said amendment, containing findings with respect thereto
having been made and directed to the President:
NOW, THEREFORE, on behalf of the President of the United
States, the National Industrial Recovery Board pursuant to author-
ity vested in it by Executive Orders of the President, including
Executive Order 6859, dated September 27, 1934, and otherwise, do
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 the 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 the previous approval of said Code is hereby amended to
include an approval of said Code in its entirety as amended, such
approval and such amendment to take effect 15 days from the date
hereof, unless good cause to the contrary is shown to the National
Industrial Recovery Board before that time and the National Indus-
trial Recovery Board issues a subsequent order to that effect.
NATIONAL INDUSTRIAL RECOVERY BOARD,
By G. A. LYNCH, Administrative Officer.
PRENTISS L. COONLEY,
Acting Division Administrator.
WASHINGTON, D. C.,
October 27, 1934..
94044 --1244-109--34 1)
REPORT TO THE PRESIDENT
The White House.
SIR: The attached amendment to the Code of Fair Competition
for the Wool Textile Industry has been duly presented by the Code
Experience has shown the Industry that the restriction imposed
by the Code on the practice of 'selling at value' serves no useful
purpose, and has prevented members of the Industry from booking
business in advance of the opening of the ensuing season.
The Deputy Administrator in his final report to us on said amend-
ment to said Code having found as hereinafter set forth on the basis
of all the proceedings in this matter;
We find that:
(a) The amendment to said Code and the Code as amended are
well designed to promote the policies and purposes of Title I of the
National Industrial Recovery Act, including removal of obstructions
to the free flow of interstate and foreign commerce which tend to
diminish the amount thereof, and will provide for the general wel-
fare by promoting the organization of industry for the purpose of
cooperative action among trade groups, by inducing and maintaining
united action of labor and management under adequate governmental
sanction and supervision, by eliminating unfair competitive prac-
tices, by promoting the fullest possible utilization of the present pro-
ductive capacity of industries, by avoiding undue restriction of pro-
duction (except as may be temporarily required), by increasing the
consumption of industrial and agricultural products through increas-
ing purchasing power, by reducing and relieving unemployment, by
improving the standards of labor, and by otherwise rehabilitating
(b) The Code as amended complies in all respects with the perti-
nent provisions of said Title of said Act, including without limita-
tion Subsection (a) of Section 3, Subsection (a) of Section 7, and
Subsection (b) of Section 10 thereof;
(c) The amendment and the Code as amended are not designed
to and will not. permit monopolies or monopolistic practices.
(d) 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.
(e) Those engaged in other steps of the economic process have
not been deprived of the right to be heard prior to approval of said
For these reasons this amendment has been approved.
For the National Industrial Recovery Board:
G. A. LYNCH,
OCTOBER 194. Adndnistraive Officer.
OCTOBER 27, 1934. ,
AMENDMENT TO CODE OF FAIR COMPETITION FOR
THE WOOL TEXTILE INDUSTRY
Amend Article XIII, Section 2, by deleting the words or selling,
'at value'" so that said Article XIII, Section 2, shall read as
SECTION 2. Granting (excepting in connection with Government
contracts) options or reservations or guaranteeing prices against
either advances or declines."
Approved Code No. 3-Amendment No. 3.
Registry No. 286-04.
UNIVERSITY OF FLORIDA
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