Code of fair competition for the car advertising trade as approved on November 22, 1934


Material Information

Code of fair competition for the car advertising trade as approved on November 22, 1934
Portion of title:
Car advertising trade
Physical Description:
11 p. : ; 24 cm.
United States -- National Recovery Administration
United States Government Printing Office
Place of Publication:
Washington, D.C
Publication Date:


Subjects / Keywords:
Advertising -- Automobiles -- United States   ( lcsh )
federal government publication   ( marcgt )
non-fiction   ( marcgt )


General Note:
Cover title.
General Note:
At head of title: National Recovery Administration.
General Note:
"Registry no. 1702-37."
General Note:
"Approved Code No. 532."

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 004930850
oclc - 645086999
System ID:

Full Text

Approved Code No. 532

Registry No. 17102--37








This publication is for sale by the Superintendent of Documents, Government
Printing Office, WFashington, D. C., and by district offices of the Burean of
~Foreign and IDomestic Commerce.
Atlanta, Ga.; 5041 Post Office Building.
Birmingham, Ala.: 257i Federal Building.
Boston, Mass.: 1801 Custombouse.
Buffalo, N. Y.: Chamber of Comlmerce Building.
Chzarleston, S. C.: Chamber of Commerce Building.
Chicago, Ill.: Suite 17i06, 201 North WCells Street.
Oleveland, Ohio: Chamber of Commerce.
Dallas, Tex.: Chamber of Commerce Building.
Detroit, MUich.: 801 First National Bank Building.
Houston, Tex.: Chamber of Commerce Building.
I~ndianapolis, Ind.: Chamber of Commerce Building.
Jacksonville, Fla.: Chamber of Commerce Building.
K~ansas City, Mo.: 1028 Baltimore Avenue.
Los Angeles, Calif.: 1163 South Broadway.
Louisville, Ky.: 4108 Federal Building.
Memphis, Tenn.: 229 Federal Building.
M~inneapolis, Minn.: 213 Federal Building.
Newf Orleans, La.: Room 225-A, Customhouse.
New York, N. Y.: 734 Custombouse.
Norfolk, Va,.: 406 East Plume Street.
Philadelphia, Pa.: 4221 Commercial Trust Building.
Pittsburgh, Pa.: Chamber of Commerce Building.
Portland, Orego.: 215 Newf Post Office Building.
St. Louis, MIo.: 506 Olive Street.
San Francisco, Calif.: 310 Customhouse.
Seattle, W~ash.: 80)9 Federal Office Building.

Approved Code No. 532



As Approved on November 22, 1934


An application having been duly made pursuant to and in full
compliance with the provisions of Tiitle I of the Nat~ional Industrial
Recovery Act, approved June 16, 1933, for approval of a, Code of
Fair Competition for the Car Advertisinga Trade, and hearings hatv-
ing been duly held thereon and the annexedl report on said Code,
containing findings wsith respect thereto, having been made and
directed to the President:
NOWV, THEREFORE, on behalf of th~e President of the United
States, the National Industrial Recovery Board, pursuant to aut.hor-
ity vestedc in it, by Execut~ive Orders of the President, including
Executive Order No~. 6859, dated Septemnber 27, 1934, and otherwise,
does hereby incorp~oralte by preference said annexed report and does
find that said Code complies in all respects w~ith the pertinent pro-
visions a~nd will promote the policies and purposes of said Title of
said Act; and does hereby order that said Code of Fair Competition
be and it is hereby approved.
BI3y W;. A. HAR;RHInA, Aidmninistrantive O~f)Zer.
Approval recommended :
D3ivi-sion Administr~ator.
WICsmSHcT Cow, D. C.,
Nove-mber P9, 1934.
996soD o-1 325-77---34----1 (1)

T~The WClhite HE~owie.

SmR: This is the report of the National Industrial Recovery Board
on the applicaton for and th public hearing on a Code of Fair
Competition for the ear Advertising Trade. The public hearing
was conducted in Washington on January 5, 1934. Every person
who requested an appearance was freely heard in accordance with
statutory and regulatory requirements.
There are estimated to be twenty-six (26f) concerns in the Trade.
The group contacted all knowcn members, anld it is certain that
ninety-five per cent (95%~) of the business was directly represented.
There is no trade association within the Trade.


The service performed byr the Trade proposing this Code is that
of displaying advertisements in or upon street cars, trucks, busses,
cars and stations of elevated railways, subways and steam or electric

As stated, there are approximately 26 concerns in t.he Clar Adver-
tising Trade which in 1928 produced a business of $17i,000,000 a.nd
gavTe employment to 2,000 persons. i~ke all advertising services,
this Trade is controlled in direct ratio by the reaction of local and
national units of industry to general conditions. Until the setback
of 1929-33, this type ofl advertising was showing wider and more
constant uise by local and national advertisers. In 1933, the volume
of business was $12,000,000 and employment stood aEt1,100O; a decline
in volume of business of thirty per cent (30%i) and in employment
of ~fifty-five peir cent (55%51). Th Car Advertisinga Trade buys
large quantities of letter press and lithographed display cards so
the volume of car advertising business has direct appreciable effects
upon engraving and printing plants.

The Codte e~stablishes a forty (40) hour week for employees en-
gaged in work outside of th~e employer's shop. The group of em-
ployees, however, in the even~lt of necessity, may be permitted to work
an additional four (4) hours in any one (1) week: provided that in
such special case at least time a nd a half shall be paid for such hours
wor~kedl in excess of the maximumn. This allows sufficient latitude


to employers when necessity for quick changes of advertising copy
arise. For offce employees, a work week of thirty-seven and one-
half (371/2) hours is provided. It is estimated that employment in
the Trade will increase fifteen per cent (15%) on the basis of the
same volume of business as was available in 1933.
The minimum rate of pay for all classes of employees is Fifteen
Dollars ($15.00) a week.

The Deputy Administrator in his final report to the Board on said
Code having found as herein set forth and on the basis of all the
proceedings in this matter;
The National Industrial Recovery Board finds 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 indus-
try 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 eliminat-
ing unfair competitive practices, by promoting the fullest possible
utilization of the present productive capacity of industries, by avoid-
ing undue restriction of production (except as may be temporarily
required), by increasing the consumption of industrial and agricul-
tural products through increasing purchasing power, by reducing
and relieving unemployment, by improving standards of labor and
by otherwise rehabilitating industry.
(b)es Said Trad normcalyied employs not more than 50,000 em-
ploees an isnotclasifed y the Board as a major industry.
(c) The Code as approved complies in all1 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; and that the applicant group
is truly representative of the aforesaid Trade; and that said group
imposes no equitable restrictions on admission to membership
(d) The Code is not designed to and will not permit mionopolies'or
monopolistic practices.
(e) The Code is not designed to and will not eliminate or oppress
smaUl enterprises and will not operate t~o discriminate against them.
(f) Those engaged in other steps of the economic process have not
been deprived of the right to be heard prior to approval of said Code.
For these reasons, the Code has been approved.
For the Nlational Indlustrial Recovery Board:
NOVEBER 2, 184. dministrati~ve Of)Zeer.



To effect the policies of Title I of the ~National Industrial Recov-
ery Act, this Code is established as a Code of Fiair Competition for
the Car Advertising Trade, and its provisions shall be the standards
of fair competition for this Trade and shall be binding upon every
member thereof.

SECTION 1. The term '"Car Advertising Trade ", as used herein
includes the production for others of display advertising and the
services incidental thereto, in. or upon street cars, trucks, busses, cars
and stations of elevated railways, subways, and steam or electric rail-
ways, and such related branches or subdivisions as may from time to
time be inc~ulued under the provisions of this Code.
SECON 2. The term. member of the Trrade as used herein
includes, but without limitation, any individual, partnership, associ-
at~ion, cor~por~ation or other form of enterprise engaged in the Trade,
either as an employer or on his or its ownl behalf.
SECTIOs 3. TIhe term employee as used herein includes any and
all persons engaged in thre Trade, however compensated, except a
member of the Trade.
SECTION 4. The term employer as used herein includes anyone
by whom such em~ploye~e is compensated or employed.
SECTION 5. The terms President ", "A~ct and "' Board as used
herein, means respectively the President of the United States, Title I
of the National Industrial Recovery Act, and the National Industrial
Recoveryr Board.

SECTION 1. No employee engaged in work outside of the employer's
shop, except outside salesmen, shall be permitted to wFork in excess
of forty (40) hours in any one weekr or eight (8) hours in a.ny twen-
ty-four (24P) hour period (beginning at midnight) except as herein
otherwFise provided.
SECTION 2. NO Other employee (except outside salesmen and em-
p~loyees engaged in. a manag~enri or executive capacity who are paid
regularly Thirty-five Dollars ($35j.00) per week- or morec) shall be
permitted to workr in exces of thirty-seven and one-half (371/2) hours
per wFeek or eight (8) hours in any twfentyp-four (24) hour period.
SECTIIONi 3. In th~e event., h~owever, of emergency requirements for
changes in car advertising displays an employee may be permitted to
exceedi the max~imum hours herein estaoblishied t~o the extent of four
(4) additional hours in any one (1) week, but in any such special

case at least one and one-half times his normal rate of pay shall be
paild for all time worked in excess of the maximum hours provided
in this Article.
SECTION 4. No employee shall be permitted to workt more than six
(6) days in any seven (7) day period.
SECTION 5. No employer shall permit any employee to worki for
any time which when totaled with that performed for another em-
pleyer, or employers, exceeds the maximum permitted herein.

SECTION 1. N~o employee shall be paid at less than the rate of Fif-
teen Dollars ($15.00)) per week.
SECTION 2. This Article establishes a minimum rate of pay, which
shall apply, irrespective of whether an employee is compensated on
a time rate, piece-work, or other basis.
SECTION 3. Each employee (except one engaged in a supervisory,
managerial, executive or selling capacity, w~ho is paid Fifty Dollars
($50.00) per week or more) shall be paid a wage rate (whether paid
on a time rate, piece rate, bonus, commission or other basis) which
will yield at least the same wage for the shorter full-time week
herein established as that which he could have earned for the same
class of work for the longer full-time week as of June 16th, 1933.
Wage increases established under the President's Reemployment
Agreement shall at least be maintained.
SECTION 4i. Female employees performing substantially the same
work as male employees shall receive the same rates of p~ay as male
employees and when they displace men they shall be paid thie same
rate of pay as the mien they displace.
SECTIONT 5. A I~person whose ear~ninr capacity~ is limited because of
age, physical or mental handicap or other infirmity, m~ay be em-
ployved at light work at a wage below the minimum established by
this Code if the employer obtains from the State Authority desig-
natedl by the United States Depar~tment of Labor a certificate au-
thorizing his employment at such wages and for such hours as shall
be stated in the certificate. Each employer shall file monthly with
the Code Authority? a list of all such persons employed by him,
showing the wages paid to and the maximum hours of work for
such employee.

SECTION 1. Child Labor.-No person under sixteen (16) years of
age shall be employed in this Trade nor anyone under eighteen (18)
years of age at operations or occupations hazardous mn nature or
detrimental to health. The Codle Authorityv shall submiit to the
Board within ninety (90) days after the effective date of this Code
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 permiit d-uly issued by the authority in such State
empowered to issue employment or age certificates or permiits show-
ing t~hat theP mpn~loyep is of the requi~red age.
SECTION 2. (a) Employvees shall have the right to organize and
bargain collectively through representatives of their own choosing,

and shall be free from the interference, restraint, or coercion of em-
ployers of labor, or their agents, in the designation of such represen-
tatives or in self-organization or in other concerted activities for
the purpose of collective bargaining or other mutual aid or protection.
(b) No emrploye~e and no one seeking employment shaUl be required
as a condition of employment to join any company union or to re-
frain from joining, organizing, or assisting a labor organization of
his own choosing, an
(c) Empyloyers shall comply with the maximum hours of labor,
minimum rates of pay, and ohr conditions of employment approved
or plmscribed byb the President.
SECTION 3. Noemployer shall reclassify employees or duties of
occupations performed or engage mi any other subterfuge so as to
defeat th purposes or provisions of the Act or of this Code.
SECTON 4. Everyr employer shall provide for the safety and health
of employees during the hours and at the places of their employment.
Standards for sa fety and health shall be submitted by the Code
AFuthority to the Board within six months after the effective date of
the C'ode.
SECTION 5. No p~rovision in this Code shall supersede any State or
Federal law which imposes on employers more stringent require-
ments as to age of employees, wages, hours of work, or as to safety,
health, sanitary or general working conditions, or insurance, or fire
protection, than are imposed by this Code.
SECTION 6. If any employer of labor in this Trade is also an em-
ployer of labor ini any other trade, the provisions of this Code shall
appgy to and affect only that part of the business which is a part of
te'L Car Advertising Trade'
Scejnoh 7. No employees shall be dismissed, demotedi or otherwise
discriminated against by reason of making a complaint or giving
evidence wit respect to an alleged violation of this Code.
SECTION 8. No employee who has been regularly employed in any
one establishment for nine (9) weekrs or more shall be discharged on
less th-an one w~eekr's notice.
SECTION 9. All employers shall post and keep posted copies of the
full lazbor provisions of this Code in conspicuous places readily ac-
cessible to all employees in the normal course of their customary
occupations. Every member of the Trade. shall comply with all
rules and regulations relative to the posting of provisions of Codes
of 1Fair Compeitition which may from tim~e to time be prescribed by
the Board.

Anr ourrIY

SECTION 1. Further to e~ffectuate the policies of the Act, a Code
Authority is hereby? established anrd shall. be the agency for the
Administration of this Codec and shall have such powers and duties3
as are prescribedl in this Code.
.SECTION 2. The Code A~uthority shall consist of not more t~hrf
five (5) individuals or such other number as may be approvedl from
time to time by the Board, to be selected as hereinafter set forth;
andl of such additional members without vote, to be known as Ad-

ministration members, to be appointed by the Board to serve for
such terms as it may specify.
SECTION 3. The Code Committee of the Car Advertising Trade
shall arrange, subject to the approval of a, fair and equitable plan
and method therefore by the Board, for the nomination and election
of the Code Authority within 60 days from the effective date of
this Code. Each member of the Trade shall have one (1) vote in
the nomination and election of the trade members of the Code
SECTION 4. Trade members of t~he Code Authority shall be elected
to serve until May 31, 1935 or until their successors are elected.
Until the Code Authority is elected, the Code Committee shall serve
as Code Authority provided that in no event shall it serve beyond
60 days from the effective date of this Code. If the Code Authority
shall not be elected within such period, the Board shall appoint a
temporary Code Authority of five (5) members to serve until the
election of the Code Authority by the trade.
SECrlON 5. Each trade or industrial association directly or indi-
rectly participating in the selection or activities of the Code Au-
thority shall (1) impose no inequitable restrictions on membership,
and (2) submit to the Board true copies of its articles of association,
by-laws, regulations, and any amendments when made thereto, to-
gether with such other information as to membership, organization,
and activities as the Board may deem necessary to effectuate the
purposes of the Act.
SECTION 6. In order that the Code Authority shall at all times be
truly representative of the Trade and in other respects comply with
the provisions of thle Act, the Board, may prescribe. such hearings
as it mayT deem proper; and thereafter if it shall find that thie Code
Authority is not truly representative or does not in other respects
comply with the provisions of the Act, may require an appropriate
modification of the Code Authority.
SECTION 7. Nothing contained in this Code shall constitute the
members of the Code ALuthority partners for any purpose.. Nor
shall any memuber 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 Au-
thority, exercising reasonable diligence in the conduct of his duties
hereunder, be liable to anyone for any action or omission to act
under this Code, except for his own wilful malfeasance or non-
SECTION 8. If the Board shall at any time determine that any
action of a Code Authority or any agency thereof may be unfair or
unjust or contrary to the public interest, the Board mlay require
that such action be suspended to afford an opportunity for Investiga-
tion of the merits of such action and further consideration by such
Code Authority or agency pending final action which shall not be
effective unless the Board approves or unless it shall fail to dlis-
approve after thirty (30) days' notice to it of intention to proceed
with such action in its original or mnodified for~m.
SECTION 9. PowerCS a~nd Duties.--Subject to such rules and regula-
tions as may be issued by the Board, the Code Authority shall have
the following powers a~nd duties, in addition to those authorized by
other provisions of this Code:

(a) To insure the execution of the provisions of this Code and to
provide for thre compliance of the Trade with the provisions of the
() To adopt by-laws and rules and regulations for its procedure.
() To obtain from members of the Trade such information and
reports as are required for the administration of the Code. In addi-
tion to information required to be submit~tedl to t~he Code Authority,
members of the Trade, subject to this Code shall furnish such stat~isti-
cal information as the B~oard mlay deem necessary for the purposes
recited in Section 3 (a) of the Act to such Federall and State Agencies
as it may designate; provided that nothing in this Code shall relieve
any member of the Trade of any existing obligations to furnish
reports to any Governmental agency. No individual report shall be
disclosed to any other member of the Trade or any other party
except to such other Governmental agencies as may be directed by
the Board.
(d) To use such trade associations and other agenlcies as it deems
proper for the carrying out of any of its activities provided for
hierein, provided that nothing herein shall relieve the Clode 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 thne provisions hereof.
(e) To make recommendations to the Board for the coordination
of the Administration of this Code with such other Codes, if any, as
mag be related to or affect members of the Trade.
SECTION 10. It being found necessary, mn order to support the
administration of this Code, to effectuate the policy of the Act and
to maintain the standards of fair competition established hereunder,
the Code ~Authority- is authorized:
(a) To incur such reasonable obligations as are necessary and
proper for the foregoing purposes and to meet such obligrat~ions out
of funds which shall be held in trust for the purposes obf the Code
and raised as hereinafter provided;
(b) To submit to th~e Board for its approval, subject to such notice
and opportunity to be heard as it may deem necesary: (1) an item-
ized budget of its estimated expenses for the foregomg~ purposes,
and (2) an eqluitab~le basis upon which the -funds .necessary to support
such budget shall be contributed by all members of the Trade entitled
to the benefits accruing from the maintenance. of such standards, and
the administration thereof ;
(c) After such budget and basis of contribution have been ap-
proved by the Board, to determine and collect equitable contribu-
tions as above set forth by all members of thle T~rade, and to that
end, if necessary, to institute legal proceedings therefor in its own
SECTION 11. Each member of the Trade shall pay his or its equi-
table contribution to the exp~ense~s of the maintenance of the Code
Authority determined as hereinabove provided, anld subject to rules
and regulattions thlereto issued by the Board. Only members of the.
Trade! coplyinrg with the Code and c~ontribut~inga to the expenses of
its administration as hereinabove provided, unless duly exempted
from making such contributions, shall be entitled to participate in
the selection of members of the Code Authlorityr or to receive the bene-

fits of any of its voluntary activities or to make use of any emblem
of the National Recovery Administration.
SEC~I[Ox 12. The Code Authority shall neither incur nor pay any
obligation substantially in excess of the amount thereof as estimated
in its approved budget, and shall in no event exceed the total amount
contained in the approved budget, except upon approval of the
Board; and no subsequent budget shall contain any deficiency item
for expenditures in excess of prior budget estimates except those
which the Board shall have so approved.
SECTION 13. The Code Authority is authorized to recommend to
the Board any action or measures deemed advisable, including fur-
ther fair trade practice provisions to govern members of the Trade
in their relations with each other or with other trades; measures
for industrial planning, and stabilization of employment; and in-
cluding modifications of this Code which shall become effective as
part hereof upon approval by the Board after such notice and
hearing, if any, as it may specify.
SECTION 14. The Code Authority is authorized to appoint a Trade
Practice Committee which shall meet with the Trade Com-
mittees appointed under such other Codes as may be related to the
Trade for the purpose of formulating fair trade practices to gov-
ern the relationships between employers under this Code and under
such other Codes to the end that such fair trade practices may be
proposed t~o the Board as amendments to this Code and such other
SECTION 15. The Code Authority is authorized to provide appro-
priate facilities for arbitrattion, and subject to the approval of the
Board, to prescribe rules of procedure and rules to effect. compliance
with awards and determinations.
SECTION 16. There Shall be established a Labor C~omplaints Com-
mittee for the Trade, which shall consist of an equal number of rep-
resentartives of employers and employees and an impartial chair-
man. The Board shall appoint such impartial chairman upon the
failure of the committee to select one by agcreement within 30 days
from the establishment of the Committee. If no truly ,rt~eprsnta-
tive labor organization exists, the employee membersofscbor
may be appointed by the Board. The employer representatives
shall be chosen by the Code Authority. Such committee shall deal
with complaints.c rela~ting to labor in accordance with any rules and
regulations issued from time to time by the Board. The Labor Com-
plaints Committee may establish such divisional, regional, and local
industrial adjustment agencies as it may deem desirable, each of
which shall be constituted in likse manner as the Labor Complaints
Com mi ttee.

RULE 1. ZWGCCuratd SAdfertfi8/N.--RO member o~f the Trade shall
publish advertising as to his own business (whether printed, radio,
display or of any other nature), which is misleading or-inaccurate
in any material particular, nor shaUl any member in any wa.y mis-
represent any goods (including but without limitation its use, trade-
mark, grade, quality, quantity, origin, size, substance, character,
nature, finish, material, content or preparation) or credit terms,

values, policies, services, or the nature or form of the business
Russ 2. False Bilin g.--No member of the Trade shall knowingly
withold froma or in~e~rt in any quotation or invoice any statement
that makles it inaccurate in anly material particular.
RULE 3. LDefamation.- NO member of the Trade shall defame a
competitor by falselyl7 imputing to his dishonorable conduct, inabil-
ity to perform contracts, questionable credit standing, or by other
false representation, or by falsely disparaging the grade or quality
of .his goods or services.
Rm;E 4. Th/T&Gl& Of Law Sucits.--No member of the Trade shall
publish or circulate unjustified or unwarranted threats of legal pro-
ceedlings which tend to or have the effect of harassing competitors
or intimidating their customers.
RULE 5. Br1ibing Em1~iployees.--No member of the Trade shall give,
p~er~mit to be given, or offer to give, anything of value for the pur-
pose of influencing or rewarding the action of any employee, agent,
or representative of another in relation to the business of the em-
ployer of such employee, the principal of such agent or the repre-
sented party, without the knowledge of such employer, p~rincipal
or party. This provision shall not be constructed to prohibit fe
and general distribution of articles commonly used for advertising
except so far as such articles are actually used for commercial
bribery as hereinabove defined.
]Rurrr 6. Inzducinzg Breach of Elcisting Conztracts.--No mrember of
the T~rade shall wilfully induce or attempt to induce the breach of
existing contracts between. competitors anld their customers by anyT
false or deceptive maearns, or interfere with or obstruct the perform-
ance of anly such contractual duties or services by any such means,
with the purpose and effect of hampering, injuring or embarrassmg~
competitors in their business.
Roran '7. NTo member of the Trade shall join or participate -with
other members of the Trade who with. such. member constitute a
substantial numbr of members of the Trade or who together con-
trol a substantial percent of the business in the Trade, in any trans-
action known in law as a black list, including any practice or device
which accomplishes the purpose of a black list.
IRun; 8. NTiio mem~nber of the! Trade shall aid anyr customer through
the publications of any advertising or sales copy inl any display
within the control of the Trade to violate the fair trade practices
or other provisions in any approved Code of Fair Competit~ion for
any trade or industry of which any suchn customer is a member.
SECTION 1. This Code and all t~he provisions thereof are expressly
madle subject to the right of the ]President, in accordance with the
provisions of subsection (b) of Section 10 of t~he Act, fromt time to
time to cancel or modify anly Order, appr~loval, license, rule, or
regulation issued under Title I: of said _Act.
SECTION 2. Such of the provisions of this Code as are not required
to be! included herein by- the Act mnay, with the approval of the
Board, be modified or eliminated in such manner as may be indi-
cazted by the needs of the public, by changes in circumstances, or by'

experience. All the provisions of this Code, unless so modified or
eliminated, shall remain in effect until June 16, 1935.


No provision of this Code shall be so applied as to permit monopo-
lies or monopolistic practices, or to eliminate, oppress, or discrinunate
against small enterprises.

Whereas the policy of the Act to increase real purchasing power
will be made more difficult of consummation if prices of goods and
services increase as rapidly as wages, it is recognized that price
increases except such as may be required to meet individual cost
should be delayed, and when made such increases should, so far as
possible, be limited to actual additional increases in the seller's costs.

This Code shall become effective on the second MSonday after its
approval by the President.
Approved Code No. 532.
Registry No. 1702-~37.

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