iH..lr.e'o-CodelNo. 4--Amendment No. 2
'- WReistry No. 263-01
NATIONAL RECOVERY ADMINISTRATION
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AMEND1IM N1 TO ,,
CODE OF FAIR COMPETITION
EXIC WTILE INDUSTRY
A* S r,.APPROV. AUGUST 31,
SAS APPROVED jONf AUGUST 31, 1934
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Approved Code No. .48-Amendment No. 2
AMENDMENT TO CODE OF FAIR COMPETITION
SILK TEXTILE INDUSTRY
As Approved on August 31, 1934
APPnROVmNo AMENDMENT TO CODE OF FAIR COMPETITION FOR THE
SILK TEXTILE INDUSTRY
,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 Silk Textile Industry,
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, I, Hugh S. Johnson, Administrator for Industrial Recovery,
pursuant to authority vested in me by Executive Orders of the Presi-
dent, including Executive Order 6543-A, dated December 30, 1933,
and otherwise, do hereby incorporate by reference, said annexed
report and do find that said amendment and the Code as constituted
after .being amended comply in all respects with the pertinent provi-
sions and will promote the policy and purposes of said Title of said
Act, and do hereby order that said amendment be and it is hereby
approved, and that the previous approval of said Code is hereby
modified to include an approval of said Code in its entirety as
amended, such approval and such amendment to take effect fourteen
(14) days from the date hereof unless good cause to the contrary
is shown to the Administrator before that time and the Adminis-
trator issues a subsequent order to that effect.
HUGH S. JOHNSON,
SAdmn istrator for Industrial Recovery.
ROBERT L. HousrTON,
August 31, 1934.
REPORT TO THEP1tESIbE.NT .
The White House.
SIR: This is a report on an amendment to the Code of Fair Corn-
petition for the Silk TextiE Industry. A hearing was not held nor ;
was a Notice of an Opportunity to File Objections issued, due to
the minor changes made, Uowever, the order approving this amend-
ment provides that it shall not be effective for fourteen (14) days
from the date of approval. -
PROVISIONS Or THE AMENDMENT
Article VIII, Section 2(a) is amended by changing the. words
"filed price in line five of paragraph 1 to quoted price and the
words "filing the price" in line eleven of paragraph 1 to "quoting
the price." The balance of the amendment is the same as it is in
the approved Code. ':
The Deputy Administrator in his final report to me 6ii said
amendment to said Code having found as herein set forth and on
the basis of all the proceedings in this matter:
I 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 the removal of obstrue-
tions to the free flow of interstate and foreign commerce which 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 among trade groups, by inducing and maintain-
ing united action of labor and management under adequate govern-
mental sanction and supervision, by eliminating unfair' competitive
practices, by promoting the fullest possible utilization of the present
productive capacity of industries, by avoiding undue restriction of
production (except as may be temporarily required), by increasing
the consumption of industrial and agricultural products though
increasing purchasing power, by reducing and relieving unemploy-
ment, by improving the standards of labor, and by otherwise
(b) The Code as amended complies in all respects with the ferti-
nent provisions of said Title of said Act, including without hlimita-
tion Subsection (a) of Section 3, Subsection (a) of Section 7, and
Subsection (b) of Section 10 thereof.
(c) The Code empowers the Code Authority to present the afore-
said amendment on behalf of the Industry as a whole.
(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.
For these reasons this amendment has been approved.
HUGH S. JOHNSON,
AUGUST 31, 1934.
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AMENDMENT TO CODE OF FAIR COMPETITION FOR THE
SILK TEXTILE INDUSTRY
Article VIII, Section 2 (a) is hereby amended to read as follows:
Section 2(a). The standards of fair competition for the Industry
with reference to pricing practices are declared to be as follows:
(1) Wilfully destructive price cutting is an unfair method of
competition and is forbidden. Any member of the industry or of
any other industry or the customers of either may at any time
complain to the Code Authority that any quoted price constitutes
unfair competition as destructive price cutting, imperiling small
enterprise or tending toward monopoly or the impairment of code
wages and working conditions. The Code Authority shall within 5
days afford an opportunity to the member quoting the price to
answer such complaint and shall within 14 days make a ruling or
adjustment thereon. If such ruling is not concurred in by either
party to the complaint, all papers shall be referred to the Research
and Planning Division of N.R.A. which shall render a report and
recommendation thereon to the Administrator.
(2) When no declared emergency exists as to any given product,
there is to be no fixed minimum basis for prices. It is intended that
sound cost estimating methods should be used and that consideration
should be given to costs in the determination of pricing policies.
(3) When an emergency exists as to any given product, sale below
the stated minimum price of such product, in violation of Section 2 .
(b) hereof is forbidden.
Approved Code No. 48--Amendment No. 2.
Registry No. 263-01.
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UNIVERSITY OF FLORID
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