NATIONAL RECOVERY ADMINISTRATION
CODE OF FAIR COMPETITION
ALLOY CASTING INDUSTRY
AS APPROVED ON AUGUST 29, 1934
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Approved Code No. 237-Amendment No. 2
Registry No. 1201-1-02
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Approved Code No. 237-Amendment No. 2
AMENDMENT TO CODE OF FAIR COMPETITION
ALLOY CASTING INDUSTRY
As Approved on August 29, 1934
APPROVING AMENDMENT TO CODE OF FAIR COMPETITION FOR THE ALLOY
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 Alloy Casting Industry,
and opportunity to be heard thereon having been duly noticed to all
interested parties, and the annexed report on said amendment con-
taining 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
President, 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 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 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 ten (10) days from the date hereof, unless good cause
to the contrary is shown to the Administrator before that time and
the Administrator issues a subsequent order to that effect.
HUGH S. JOHNSON,
Administrator for Industrial Recovery.
BARTON W. MURRAY,
August 29, 1934.
83462 ---1044-141-----84 (1)
REPORT TO THE PRESIDENT
The White House.
Sm: This is a report on an amendment to the Code of Fair Com-
petition for the Alloy Casting Industry, the Code having been ap-
proved by my Order of January 30, 1934.
Notice of opportunity to be heard on this amendment, was duly
posted to all interested parties providing an opportunity to file
objections, and no objections were received during this period.
The Code is amended to provide that willful destructive price
cutting is an unfair method of competition and is forbidden and the
amendment further provides for the establi hment of minimum
prices during the period of emergency.
The Assistant Deputy Administrator in his final report to me on
said amnlwnineint 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 lproimote the policies and purposes of Title I of the
National Indu trial Recovery Act including the removal of obstruc-
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 of labor and management under adequate gov-
ernnlental sanction and supervision, by eliminating unfair competi-
tive practices, by promoting the fulle.-.t possible utilization of the
prns'1,nt productive capacity of industries, by avoiding undue restric-
tion of produ(ltion (except as may be temporarily required), by in-
creasing the consumption of industrial and agricultural products
through increasingI purchasing power, by reducing and relieving un-
employnment, by improving standards of labor, and by otherwise
(b) The Code as amended complies in all respects with the per-
tinent provisionc- of said Title of said Act, including without limita-
tion sub-section (a) of Section 3, sub-section (a) of Section 7 and
sub-section (b) of Section 10 thereof.
(c) The amniri'im'lint and the Code as amended are not designed to
and will not lie-rmit nmninopolies or monopolistic practices.
(d) The :iindmninnt and the Code as amnindcd are not designed to
and will not eliminate or oppress .lmall enterprises and will not op-
crate to discriminate ngailnt them.
(e) Those eng';'id in other steps of the economic process have not
been 1.pri\(.vd of the right to be heard prior to approval of said
For these reasons, therefore, I have approved this amendment, such
amendment to take effect ten (10) days from the date hereof, unless
good cause to the contrary is shown and I issue subsequent order to
HUGn S. JOHNSON,
A dAmidfnslIrat or.
AMENDMENT TO CODE OF FAIR COMPETITION FOR
THE ALLOY CASTING INDUSTRY
Amend Article VII by adding the following new Section:
SECTION 2. The standards of fair competition for the industry with
reference to pricing practices are declared to be as follows:
(a) 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 filed 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 filing the price to
answer such complaint and shall within 14 days male 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.
(b) 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 con-
sideration should be given to costs in the determination of pricing
(c) When an emergency exists as to any given product, sale below
the stated minimum price of such product, in violation of Section 3
hereof, is forbidden.
SECTION 3. Emergency Provisions.-(a) If the Administrator,
after investigation shall at any time find both (1) that an emer-
gency has arisen within the industry adversely affecting small enter-
prises or wages or labor conditions, or tending toward monopoly or
other acute conditions which tend to defeat the purposes of the act;
and (2) that the determination of the stated minimum price for a
specified product within the industry for a limited period is neces-
sary to mitigate the conditions constituting such emergency and to
effectuate the purposes of the Act, the Code Authority may cause
an impartial agency to investigate costs and to recommend to the
Administrator a determination of the stated minmium price of the
product affected by the emergency and thereupon the Administrator
may proceed to determine such stated minimum price.
(b) When the Administrator shall have determined such stated
minimum price for a pcecified product for a stated period, which
price shall be reasonably calculated to mitigate the conditions of
such emergency and to effectuate the purposes of the National Indus-
trial Recovery Act, he shall publish such price. Thereafter, during
such stated period, no member of the industry shall sell such speci-
fled products at a net realized price below said stated minimlyn
price and any such sale shall be deemed destructive price cutting.
From time to time, the Code Authority may recommend review or
reconsideration or the Administrator may cause any determinations
hereunder to be reviewed or reconsidered and appropriate action
Approved Code No. 237-Amendment No. 2.
Registry No. 1201-1-02.
UNIVERSITY OF FLORIDA
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