NATIONAL RECOVERY ADMINISTRATION
CODE OF FAIR COMPETITION
BANK AND SECURITY VAULT
AS APPROVED ON MAY 1, 1934
I I "/
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WASHINGTON t 1934
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W9l, Code No. 411
Registry No. 1133--1--05
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Approved Code No. 411
CODE OF FAIR COMPETITION
BANK AND SECURITY VAULT MANUFACTURING
As Approved on May 1, 1934
APPROVING CODE OF FAIR COMPETITION FOR THE BANK AND SECURITY
VAULT MANUFACTURING 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 a Code of
Fair Competition for the Bank and Security Vault Manufacturing
Industry, and hearings having been duly held thereon and the an-
nexed report on said Code, 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 No. 6543-A, dated December 30,
1933, and otherwise; do hereby incorporate by reference said annexed
report and do find that said Code complies in all respects with the
pertinent provisions and will promote the policy and purposes of
said Title of said Act; and do hereby order that said Code of Fair
Competition be and it is hereby approved.
HUnH S. JOHNSON,
Administrator for Industrial Recovery.
A. R. GLANOY,
May, 1 1934.
REPORT TO THE PRESIDENT
The White House.
SIR: This is a report on the Code of Fair Competition for the
Bank and Security Vault Manufacturing Industry and on the Pub-
lic Hearing conducted thereon in Washington, D.C., on March
20th, 1934, in accordance with the provisions of the National Indus-
trial Recovery Act:
PROVISIONS OF THE CODE AS TO WAGES AND HOURS
This Code provides for a maximum working period of forty (40)
hours per week, eight (8) hours in any twenty-four (24) hour period,
and six (6) days per week. The following are excepted:
(a) Executives, managerial and supervisory employees receiving
more than thirty-five dollars ($35.00) per week and outside salesmen.
(b) Employees on emergency maintenance or repair work who are
to be paid at least one and one-half (11/2) times the normal rate for
time worked in excess of eight (8) hours per day, or forty (40) hours
(c) Employees meeting the requirements of peak demand for any
six (6) weeks in any six (6) months' period beginning Jan-
uary 1st and July 1st of each year who are to be paid not less than
one and one-half (1V) times the normal rate for time worked in
excess of eight (8) hours in any one day. forty (40) hours in any
one week and Sundays or legal holidays.
(d) Watchmen who are not to be employed more than forty-eight
(48) hours per week.
This Code provides for minimum rates of pay of forty cents (400)
per hour. It provides for minimum rates of pay for office employees
of fifteen dollars ($15.00) per week.
Child labor is prohibited, and no person under eighteen (18)
years of age may be employed at occupations or operations which
are hazardous in nature or dangerous to health.
Provisions are made for posting of complete copies of the Code
and any amendments or modifications which may later be approved.
Provisions are made for the establishment by the Administrator
of an Industrial Relations Board consisting of an equal number
of representatives of employers and employ es dealing with matters
relating to labor.
l:C'NOM'll' EFFECTs- OF TllE (CODE
The Indii.-lry in 1932 operated at about 37.s';. of the 1930 volume,
when cnmpl, ,oyes numli.ered about 2.151. Reports available for the
first part of the year of 19'33 show the volume of business has prob-
ably not exceeded the 1932 level. The present r.umb! r of employees
is about 52.8% of the number employed during the year 1930, or
about 1,135. No data is available on employment in 1929 for this
It develops that the wage scale proposed under the Code has been
in effect since August 1933, due to compliance with the President's
Reemployment Agreement. A previous increase in wages is shown
in July 1933. These increases, which the Code maintains, represent
an increase averaging roughly twenty per cent (20%) over the
1929 average rates.
Man-hours for 1933 are based on a twenty-eight (28) hour week;
consequently, until there is an increase in production activity and
man-hour requirements, little increase in employment will be
caused by the adoption of the forty (40) hour week proposed in the
Code for this Industry.
The Industry depends almost entirely on the activity of bank
construction and has been severely affected by the decline of general
construction and bank construction.
It is expected that the adoption of the Fair Trade Rules established
in this Code will stabilize the Industry and materially assist in
returning it to a healthy basis of operation.
The Deputy Administrator in his final report to me on said Code
having found as herein set forth and on the basis of all the pro-
ceedings in this matter:
I find that:
(a) Said Code is well designed to promote the policies and pur-
poses 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 pro-
vide for the general welfare by promoting the organization of
industry for the purpose of cooperative action among the trade
groups, by inducing and maintaining united action of labor and
management under adequate governmental sanctions 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 tem-
-porarily required), by increasing the consumption of industrial and
agricultural products through increasing purchasing power, by
reducing and relieving unemployment, by improving standards of
labor, and by otherwise rehabilitating industry.
(b) Said Industry normally employs not more than 50,000 em-
ployees; and is not classified by me as a major industry.
(c) The Code as approved complies in all respects with the per-
tinent 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; and that the applicant asso-
ciation is an industrial association truly representative of the afore-
said Industry; and that said association imposes no inequitable re-
strictions on admission to membership therein.
(d) The Code is not designed to and will not permit monopolies
or monopolistic practices.
(e) The Code is 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 hat
not been deprived of the right to be heard prior to approval of said
For these reasons, therefore, I have approved this Code.
HUGH S. JOHNSON,
MAY 1, 1984.
CODE OF FAIR COMPETITION FOR THE BANK AND
SECURITY VAULT MANUFACTURING INDUSTRY
To effectuate the policy of Title I of the National Industrial Re-
covery Act, the following provisions are established as a Code of
Fair Competition for the Bank and Security Vault Manufacturing
Industry, and shall be the standard of fair competition for such
Industry and shall be binding upon every member thereof.
Whenever used in this Code or any schedule appertaining hereto,
the terms hereinafter defined shall, unless the context shall otherwise
clearly indicate, have the following respective meanings:
1. The term "Industry" means the fabrication, manufacture, con-
struction, installation, sale, repair and service of bank and security
vaults and the usual equipment therefore.
2. The term member of the Industry means anyone engaged in
the Industry as defined above.
3. The term "Association means the Association of Bank &
Security Vault Manufacturers of America.
4. The term employee means and includes anyone engaged in the
industry in any capacity receiving compensation for his services irre-
Sspective of the method of payment of such compensation except a
member of the Industry.
5. The term "employer" means anyone by whom any employee is
compensated or employed.
6. The terms the President ", "Act ", and Administrator mean,
respectively, the President of the United States, Title I of the Na-
tional Industrial Recovery Act, and the Administrator for Industrial
SECTION 1. No employee shall be permitted to work in excess of
forty (40) hours in any one week or eight (8) hours in any twenty-
four (24) hour period nor more than six (6) days per week, except
as herein otherwise provided.
SECTION. 2. The maximum hours fixed in Section 1 shall not apply
to employees engaged in an executive, managerial or supervisory
capacity who receive more than thirty-five dollars ($35.00) per week,
and outside salesmen.
SECTION 3. The maximum hours fixed in Section 1 shall not apply
to any employee on emergency service, emergency maintenance, or
emergency repair work involving breakdowns or protection of life
or property, but in any such special case at least one and one-half
(1/2) times his regular rate shall be paid for hours worked in
excess of eight (8) hours per day or forty (40) hours per week.
SECTION 4. To meet the requirements of peak demand the hours
fixed in Section 1 shall not apply for any six (6) weeks in any six
(6) months' period beginning January 1 and July 1 of each year
provided that no employee shall be permitted to work in excess of
forty-eight (48) hours per week and provided that not less than one
and one-half (1%) times the regular rate is paid to each employee
for all time worked over eight (8) hours in any one day or forty
(40) hours in any one week, and provided further, that any em-
ployee working on Sundays or legal holidays shall be paid not less
than one and one-half (11/%) tHnes his regular rate for all time so
SECTION 5. Watchrmei.may be permitted to work not in excess of
forty-eight (48) hours per week.
SECTION 6. No employer shall knowingly permit any employee to
work for any time which, when totaled with that already performed
for another employer or employers; exceeds the maximum permitted
SWcnoN 7. Employers who personally perform manual work or
are engaged in mechanical operations shall not exceed the prescribed
inaximuin number of hours.
SECTION 1. No employee shall be paid less than at the rate of
forty (40) cents per hour, except as herein otherwise expressly
SECTION 2. No employee engaged in office or clerical work shall
be paid less than the rate of fifteen ($15.00) dollars per week.
SECTION 3. All rates which are now in excess of the above minima
shall be promptly and equitably adjusted and in no case shall they be
decreased. Within fifteen (15) days after the effective date of the
Code every employer in the Industry shall file a complete statement
of all such equitable adjustments with the Code Authority, who shall
furnish same to the Administrator at his request.
SECTION 4. This Article establishes a minimum rate of pay re-
gardless of whether an employee is compensated on a time-rate,
piecework, or other basis.
SECTION 5. Female employees performing substantially the same
work as male employees shall receive the same rate of pay as
male employees; and where they displace men, they shall receive
the same rate of earnings as the men they displace. The Code Au-
thority shall within ninety (90) days after the effective date file
with the Administrator a description of all occupations in which
both men and women are employed.
SECTION 6. A person whose earning capacity is limited because
of age, physical or mental handicap, or other infirmity, may be
employed on light work at a wage below the minimum established
by the Code, if the employer obtains from the state authority desig-
nated by the United States Department of Labor a certificate
authorizing such person's employment at such wages and for such
hours as shall be stated in the certificate. Such authority shall be
guided by the instructions of the United States Department of
Labor in issuing certificates to such persons. Each employer shall
file monthly with the Cpde Authority a list of all such persons
employed by him, showing the wages paid to, and the maximum
hours of work for such employee.
ARTICLE V-GENERAL LABOR PROVISIONS
SECTION 1. As required by Section 7 (a) of Title I of the National
Industrial Recovery Act, it is hereby provided that:
Employees shall have the right to organize and bargain collec-
tively through representatives of their own choosing and shall be
free from the interference, restraint, or coercion of employers of
labor, or their agents, in the designation of such representatives
or in self-organization or in other concerted activities for the purpose
of collective bargaining or other mutual aid or protection.
No employee and no one seeking employment shall be required
Sas a-condition of employment to join any company union or to
refrain from joining, organizing, or assisting a labor organization
of his own choosing.
Employers shall comply with the maximum hours of labor, mini-
mum rates of pay, and other conditions of employment approved
or prescribed by the President.
SECTION 2. No person under sixteen (16) years of age shall be
employed in the Industry nor any one under eighteen (18) years of
age at operations or occupations hazardous in nature or detrimental
to health. The Code Authority shall submit to the Administrator
before ninety (90) days a list of such occupations. In any State an
employer shall be deemed to have complied with this provision if
he shall have on file a certificate or permit duly issued by the
Authority in such State empowered to issue employment or age
certificates or permits, showing that the employee is of the required
SECTION 3. Within each State this Code shall not supersede any
laws of such State imposing more stringent requirements on em-
ployers regulating the age of employees, wages, hours of labor, or
health, fire, or general working conditions than under this Code.
SECTION 4. Employers shall not reclassify employees or duties of
occupations performed or engage in any other subterfuge so as to
Defeat the purposes or provisions of the Act or of this Code.
SSECTION 5. Every employer shall make reasonable provisions for
the safety and health of his employees at the place and during the
hours of their employment. Standards for safety and health shall
be submitted by the Code Authority to the Administrator for
approval within six months after the effective date of this Code.
SECTION 6. All employers shall post and keep posted copies of
this Code in conspicuous places accessible to all employees. Every
member of the Industry shall comply with all rules and regulations
relative to the posting of provisions of Codes of Fair Competition
which may from time to time be prescribed by the Administrator.
SECTION 7. There may be established by the Adninistrator an
Industrial Relations Board for the Industry consisting of an equal
number of representatives of employers and employees to deal with
all matters in the Code relating to labor. Where a majority agree-
ment can not be reached, the Board shall select an impartial chair-
man to render a decision. The creation and functioning of these
Boards, including the selection of representatives of employees, shall
be in accordance with Section 7 of the Act. If no truly represent-
ntive labor organization exists, the employee members of such
Board shall b2 chosen by the Labor Advisory Board of the National
Recovery Admniistration. The employer representatives shall be
chosen by the Code Authority. The Industrial Relations Board
may establish such subsidiary agencies constituted in like manner as
it finds necessary.
SECTION 1. Organization and constitution of Code Authority:
(a) The Code Authority shall consist of five individuals, to be
selected as hereinafter set forth. The Administrator, in his dis-
cretion, may appoint not more than three additional members who
shall serve without votes and without expense to the Industry.
(b) Members of the Code Authority shall be elected by members
of the Industry at a meeting held under the supervision of the Asso-
ciation within ten (10) days after the effective date of the Code.
(c) Each trade or industrial association directly or indirectly par-
ticipating in the selection or activities of the Code Authority shall:
(1) impose no inequitable restrictions on membership, and (2) sub-
mit to the Administrator true copies of its articles of association, by-
laws, regulations, and any amendments when made thereto, together
with such other information as to membership, organization, and
activities as the Administrator may deem necessary to effectuate the
purposes of the Act.
(d) In order that the Code Authority shall at all times be truly
representative of the Industry and in other respects comply with
the provisions of the Act, the Administrator may prescribe such
hearings as he may deem proper; and thereafter if he shall find
that the Code Authority is not truly representative or does not in
other respects comply with the provisions of the Act, may require an
appropriate modification in the method of selection of the Code
(e) Members of the Industry shall be entitled to participate in
and share the benefits of the activities of the Code Authority and to
participate in the selection of the members thereof by assenting to
and complying with the requirements of this Code and sustaining
their reasonable share of the expenses of its administration. Such
reasonable share of the expenses of administration shall be de-
termined by the Code Authority, subject to review by the Adminis-
trator, on the basis of volume of business and/or such other factors
as may be deemed equitable.
(f) Nothing contained in this Code shall constitute the members
of the Code Authority partners for any purpose. Nor shall any
member of the Code Authority be liable in any manner to anyone
for any act of any other member, officer, agent or employee of the
Code Authority. Nor shall any member of the Code Authority,
exercising reasonable diligence in the conduct of his duties here-
under, be liable to anyone for any action or omission to act under
this Code, except for his own willful misfeasance or non-feasance.
S. POWERS AND DUTIES.. .. ...,,
S-SwoN 2. The Code Authority shall have the following further
powers and duties, the exercise of which shall be reported td the
Administrator and shall be subject to such rules and regulations as
he may issue:
(a) To insure the execution of the provisions of this Code and
provide for the compliance of the Industry with the provisions of
(b) To adopt by-laws and rules and regulations for its procedure
and for the administration and compliance with the Code.
(c) To obtain from the members of the Industry such information
and reports as are required for the administration of the Code and
to provide for submission by members of such information and
reports as the Administrator may deem necessary for the purposes
of Section 3 (a) of the Act, which information and reports shall be
submitted by members to such administrative and/or government
agencies as the Administrator may designate; provided that nothing
in this Code shall relieve any member of the Industry of any existing
obligations to furnish reports to any government agency. No indi-
vidual reports shall be disclosed to any other member of the Industry
or any other party except to such agent of the Code Authority as it
may designate or to such governmental agencies as may be directed
by the Administrator.
(d) To use such trade associations and other agencies as it deems
proper for the carrying out of any of its activities provided for here-
in, provided that nothing herein shall relieve the Code Authority
of its duties or responsibilities under this Code and that such trade
associations and agencies shall at all times be subject to and comply
with the provisions hereof.
(e) To make recommendations to the Administrator for the coor-
dination of the administration of this Code with such other codes,
if any, as may be related to the Industry.
(f) To secure from members of the Industry an equitable and
proportionate payment of the reasonable expenses of maintaining the
Code Authority and its activities.
(g) To cooperate with the Administrator in regulating the use
of any National Recovery Administration insignia solely by those
members of the Industry who have assented to. and are complying
with, this Code.
(h) To recommend to the Administrator further fair trade prac-
tice provisions to govern members of the Industry or with other
Industries and to recommend to the Administrator for industrial
planning, including stabilization of employment.
(i) In order to assist in making effective the reports from the
Industry and in eliminating unfair competition, the Code Authority
shall, within one month after the effective date of the Code, appoint
a committee so constituted as to give due consumer and governmental
representation, to make a study, with a view to the establishment of
classification and standards of quality of products of the Industry,
wherever such standards are deemed feasible. The findings and rec-
ommendations of this committee shall, within one year, be submitted
to the Administrator, and after such hearings as he may designate,
and upon approval by h'm, shall be made a part of this Code and
shall be binding upon every member.
(j) Within thirty (30) days after the approval of this Code the
Code Authority shall cause to be formulated a cost formula subject to
the approval of the Administrator which cost formula shall set forth
the items to be included and the items to be excluded in arriving at
cost as used in this Code.
SECION 3. Special administrative provisions:
If the Administrator shall determine that any action of the Code
Authority or any agency thereof may be unfair or unjust or contrary
to the public interest, the Administrator may require that such
action be suspended to afford an opportunity for investigation of the
merits of such action and further consideration by the Code Author-
ity or agency pending final action which shall not be effective unless
the Administrator approves or unless he shall fail to disapprove after
thirty (30) days' notice to him of intention to proceed with such
action in its original or modified form,
ARTICLE VII-UNFAIR PRACTICES
The acts set forth in Schedule "A" attached hereto and made a
part hereof are and shall constitute unfair practices and unfair meth-
ods of competition. All such unfair practices and all other practices
which shall be declared to be unfair practices by any amendment to
this Code shall be deemed to be unfair methods of competition and
the using or employing of any of them directly or indirectly shall be
deemed to be a violation of the Code.
S1. This Code and all the provisions thereof are expressly made
subject to the right of the President, in accordance with the provi-
sions of subsection (b) of Section 10 of the National Industrial
Recovery Act, from time to time to cancel or modify any order
approval, license, rule or regulation issued under Title I of said
Act, and specifically, but without limitation, to the right of the
President to cancel or modify his approval of this Code or any condi-
tions imposed by him upon his approval thereof.
2. This Code, except as to provisions required by the Act, may be
modified on the basis of experience or changes in circumstances, such
modifications to be based upon application to the Administrator and
such notice and hearing as he shall specify, and to become effective
on approval of the President.
No provision of this Code shall be so applied as to permit monopo-
lies or monopolistic practices, or to eliminate, oppress or discriminate
against small enterprises.
ARTICLE X-EFFECTIVE DATE
This Code shall become effective ten (10) days after approval by
Approved Code No. 411.
Registry No. 1133-1-05.
The following practices constitute unfair methods of competition for mem-
bers of the Industry and are prohibited:
1. The selling of any product of the Industry at a price below his own indi-
vidual cost provided that any member of the Industry may meet the price
competition of any other member whose costs under this Code are lower.
Provided that the provisions of this paragraph shall not be deemed to apply
to or affect the sale of any product for direct shipment in export trade by any
member of the Industry within the meaning of the term Export Trade" as
it is used in the Export Trade Act.
2. Withholding from or inserting in any invoice a false record, wholly or in
part, of the transaction represented on the face thereof, and the payment or
allowance of secret rebates, secret refunds, secret credits, unearned discounts
(whether in the form of money or otherwise), or the extension to certain
purchasers of prices, services, privileges not extended to all purchasers of the
same class under like conditions.
3. Defaming a competitor directly or indirectly, by words or acts which
impugn his business integrity, his ability to keep his contracts, his credit
standing, or the quality of his products.
4. Imitating or simulating the trade mark, trade name, package, wrapper,
or label of a competitor's product to such a degree as to deceive or have a
tendency to deceive customers.
5. No member of the Industry shall give, permit to be given, or directly offer
to give, anything of value for the purpose of influencing or rewarding the action
of any employee, agent, or representative of another in relation to the busi-
ness of the employer of such employee, the principal of such agent or the
represented party, without the knowledge of such employer, principal or party.
Commercial bribery provisions shall not be construed to prohibit free and
general distribution of articles commonly used for advertising except so far
as such articles are actually used for commercial bribery as hereinabove
6. False marking or branding of any product of the Industry which has the
tendency to mislead or deceive customers or prospective customers, whether
as to the grade, quality, quantity, substance, character, nature, origin, size,
finish or preparation of any product of the Industry, or otherwise. Refinished
products of competitors' manufacture when sold may be marked as sold by the
vendor with the following words: From the" or "Sold by the" seller
or vendor in place of bearing the original manufacturer's name.
7. Making or causing or knowingly permitting to be made or published any
false, materially inaccurate or deceptive statement, by way of advertisement
or otherwise. whether concerning the grade, quality, quantity, substance,
character, nature, origin, size, finish, or preparation of any product of the
Industry, or the credit terms, values, policies, or services, of any member of the
Industry, or otherwise, having the tendency or capacity to mislead or deceive
customers or prospective customers.
8. Publishing or circulating threats of suits for infringement of patents or
trade marks or of any other legal proceedings not in good faith, with the ten-
dency or effect of harassing competitors or intimidating their customers.
9. Securing confidential information concerning the business of a competitor
by a false or misleading statement or representation, by n false impersonation
of one in authority, by bribery, or by any other unfair method.
10. Selling or offering to sell repaired or rebuilt vaults or any parts thereof
as new, or new vaults or any part thereof as rebuilt or repaired.
11. Using of any agency or representative for the purpose of violating this
UNIVERSITY OF FLORIDA
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