For sale by the Superintendent of Documents, Washington, D.C. - Price 5 centg
Approved Code No. 158
Registry No. 1399--26
NATIONAL RECOVERY ADMINISTRATION
CODE OF FAIR COMPETITION
STONE FINISHING MACHINERY
AND EQUIPMENT INDUSTRY
AS APPROVED ON DECEMBER 15, 1933
1. Executive Order
2. Letter of Transmittal
This publication is for sale by the Superintendent of Documents, Government
Printing Office, Washington, D).O., and by district offices of the Bureau of Foreign
and Domestic Commerce.
DISITRICT OFFICES OF THE DEPARTMENT OF COMMECE
AQtlanta, Ga.: 504 Post Office Building.
Birminghamn, ABla.: 257 Federal Building.
Boston, Mass.: 1801 Customhouse.
Buffalo, N.Y.: Chamber of Cormmerce Building.
Charlestron, 8.C.: Chamber of Commnerce Buildinzg.
Chicago, Ill.: Suite 1706, 201. North Wells Street.
Cleveland, Ohio: Chamober of Commerce.
D~allas, Texg.: Chamober of Commerce Building.
Detroit, Mich.: 2213 F'irst National Bank Building.
Houston, Tex.: Chamber of Commerce 1Buiding.
Indianapolis, Ind.: Chamber of Comnmerce Building.
Jacksonville, Fila.: Chamber of Co~mmerce Building.
K~ansas City, IMo.: 1028 Baltimore Avenue.
Los A~nge~les, Calif.: 1163 South Broadway.
Louisville, Ky.: 408 Federal Building.
Memphis, Tenn.: 229 Federal Building.
Minneapolis, Mlinn.: 213 Federal Building.
New Orleans, La.: Room 225-A, Custombouse.
New York, N.YI.: 734 Customhouse.
Norfolk, Va.: 406 East Plume Street.
Philadelphia, Pa.: 933 Commercial Trust Building.
Pittsburgh, Pa.: Chamber of Commerce Building.
Portland, O~reg.: 215 New Post Office Building.
St. Louis, Mdo.: 506f Olive Street.
San. Francisco, Callf.: 810 Custombouse.
Seattle, Wash.: 8093 Federal Building.
Approved Code No. 158
CODE OF FAIR COM[PETIT1IION
STONE FINISH3[ING MAIC~HINIERY AND
As Approved on Decemaber 15, 1933
An application having been duly made, pursuant to and in full
compliance with the provisions of title I: of thie Nat~ional Industrial
Recovery Act, approved June 16, 1933, for my approval of a Code
of Fair Competition for the Stone Finishing Mlachinery and
1Equipm~ent Industry, and hearings having been held thereon and the
Administrator having rendered his report containing an analysis
of the said code of fair competition together with his recommenda-
tions and findings with respect thereto, and the Administrator hav-
ing found that the said code of fair competition complies in all
respects with the pertinent provisions of title I of said act and that
the requirements of clauses (1) anld (2) of subsection (a) of section 3
of the said APct have been met:
NOW THEREFORE, I, Frankin D. Roosevelt, President of the
United states pursuant to the authority vested in m~e by title I of
the N~ational Industrial Recovery Act, approved June 16, 1933, and
otherwise, do adopt and approve the report and recommendations,
and findings of the Administrator and do order that the said code
of fair competition be and it is hereby- approved.
FRANKLIN~tP D. ROOSEVELT.
Approval recommended :
Husn S. JroHNwoN,
To WarE: HOUSE,
December 15, 1933.
DECEMBER 6, 1933.
The ~CTVA e Hou~se.
Sma: This is a report o~n the Code of F'air Compe~tition for the
Stone F'inishing Miachinery and Equipment Industry, the hearing
having been held in Watshington, November 20, 1933, in accordance
with the provisions of the~ Nlational Industrial Rlecovery Act.
PROVISIONS AS TO) HOURS AND WAGES
Factory workers are limited to 8 hours prr day and 40 hours per
week, except during peak periods, when. they may okntmr
than 48 hours per week; in. any 6 weeks in any 6 moknoths perid
Time and one half will be paid for all hours in excess of 8 per day
or 40 per week. A tolerance of 10 percent over the 40 hours' masl-
mum Is permitted for employees engaged in. preparation and care
of plant, machinery, and production facilities, and for stock and
delivery employees for six weeks in any six months' period.
The above hmnitations as to hours do not apply to employees in
managerial or executive positions, outside service employees, travel-
ling salesmen, or employees engaged in emergency maintenance or
emergency repair work. Outside service employees and emergency
maintenance and emergency repair employees receive time and one
half over 8 hours per dayr or 40 hours per week.
The minimum wage for factory employees is 40 cents per hour.
No distinction in wage rates will be made between male and female
employees. Adjustment of wage rates above the minimum wiUl
A mnaximum of 40 hours per week is provided for clerical emn-
ployees and the minimum wcage will be in accordance with the 1Presi-
dent's Reemployment Agree~ment. Salaries now8 higher than the
minimum will not be reduced because of thte reduction in hours pro-
vided in the Code.
Office boys and girls and messengers wvill be! paid at not less than
80%1 of the minimumlI for clerical employees, and the number of such
employees, together with apprentices will not exceed 15% of the total
number of employees of an~y employer.
The minrimum age? will be3 16 years, and no person under 18 will be
engaged in anly hazardlous occupation.
ECONOMIIC EIFFT OF THlE coDEa
This industry produces stone-sawmng machines and other machines
andl equipment for fnishing granite, marble, and other building stone
after the stone has been freed from the quarry bed. It has suffered
severely from lack of building activity, and its sales are only about
one third of the 1929 total of $6,000,000. H-owev-er, thle industry has
retained 46%7 of the number of employees it emnploy~ed in 1929, or a
present total of about 500.
Tlhe reduction in the hourly schedule from a~pproximatelyr 50 hours
per week to 40 hours as provided in the Code increases employment
less than 5 per cent because of the above-mentioned program of work
sharing, but with any increase in building activity it is expected
that an Immediate reemployment of workmren will be effected.
The Administrator finds that:
(a) The Code as recommended compies in all respects with the
pertinent provisions of Title I of the At~ct, including, wcPithout limita-
tion, subsection (a) of Section 7 and subsection (b) of Section 10
thereof ; anld th~at
(b) The applicant group imposes no inequitable restrictionss on
admission to membership therein andl is truly ~representative of thre
Stn F(c)~ The Coeas recommended is not designed to promote mo-
nopolies or to eliminate or oppress smaall enterprises and will not
operate to discriminate against them, and will tend to e~fectuate thre
policy of Title I of the National Industrial Recovery Act.
It Is recommended, therefore, that this Code be approved.
HUGHar S. JOHBNSON,
STONE FINISHINliG MIACHINIER~Y AND EQUIPMENT
T'o effectuate the policies of Title I of thie National Industrial Re-
covery Act, the following provisions are? submitted as a Code of
Fair Competition for the Stone Finishing MS1achinery and ~Equipment
Industry, and upon approval of the President shall be the standard
of fair competition fb~r this Industry.
The following words are used in this Code with the meanings set
a. Stone Finishing Machinery and Equipment Indlustry '" or
" The Industry is defined to mean the manufacture for sale of all
machinery, tools, equipment, accessories, and products applicable to
the process of fCinishing granite, marble, and free stones after such
stones have been freed from the quarry bed; also applicable to the
process of finishing precast or artificial stone except such macehineryy,
tools, equipment, accessories, and products as are specifically in-
cluded within any other basic Code of Fair Competition which; has
been or may be approved by the President; also the dressing or
sharpening of pneumatic and hand chisels, quarry drills, and forged
tools exclusively used in processing granite, marble, freestones, and
(b) "LAssociation shall mean Allied Stone Equipment & Supply
(c) Employee any person engaged in any phase of the Indus-
try in any capacity inl the nature of employee, irrespective of the
method of payment of his compensation.
(d) Employer "--anyone for whose benefit such an employee is
(e) Member of the Industry "--anyr person engaged in the Indus-
try either as anl employer or on. his own behalf, who shall be subject
to thlis Code.
(f) '"Apprentice "--a person having no previous experience in the
manufacture of stoneworking~ machinery, tools, equipment, acces-
sories, and supplies, and woho is being trained to become competent
in skilled operations.
(g) "Act "--The National Industrial Recovery ALct,
CODE OF FAIR COMIPETITIION
(h) L The President "-The President of the United States.
(i) "'Administ~rator "-Te Admlninistrator of TCitle I of the Na-
tional Industrial Recovery Act.
(j) "' Consumner "--A purchaser for actual or direct use.
(a) No employee, except as hereinafter provided in exceptions,
shall be permitted to work. in excess of forty (40) hours per week
or in excess of eight (8) hours per day.
(b) `Exception: During any period of seasonal or peak demand
anyr employee! described in ]Paragraph (a) hereof m~ay be permnittedl
to work not to exceed forty-eigbht (48) hours per week in any six
(6) weeks in any six (6) months' period, providedc that time and
one half shall be paid for all hours worked in excess of eight (8)
hours in any one day or forty (4,0) hours in, anly onle week.
(c) Exception: There shall be a tolerance of ten (10) percent
additional hours over the forts (40) hours per week: for any em-
ployee engaged in thre preparation, care, an~d zaintenance of plant,
machinery, and production facilities, and for stock and shipping
clerks and delivery employees; provided that such tolerance shall
not result inJ suchl employees wnork~ingr in excess of forty-four (44)
hours per week in any six (6) weeks in any six (6) months' period.
(d) Exception: During the period of the day from 6 o'clock
a.m., until starting time of shop operations, and froma the closing
hour of shop operations until 6 o'clock p~m. and on Saturday, Sun-
days, and holidays, factory employees otherr then mechanics or
artisans) may be employed as w7at~chmen only, subject to no other
duty during these hours, provided that the combined hours engaged
as factory workers and as watchmen, shall not exceed forty-eight
(48) hours in one (1) week of seven (7) days; provided, further,
t~hat their :regular hourly rate as a factoryg worker shall be paid for
the hours engaged as watchmen.
(e) Exceptionr: The limitations as to hours of labor shall not
apply to persons in a managerial, executive, or supervisory capacity
who receive more than $35.00 per week; nor to outside service and
installation men, commercial traveling salesmen, or night w~atchmnen;
nlor to employees engaged in emergency maintenance or emergency
repair work; provided that employees engaged in outside service or
installation work, or emergency maintenance or emergency repair
work, shall be paid time and one half for all hours worked In excess
of eight 1 hours in any one day or forty (40) hours in any one
week. N gt watchmen shall not work: regularly in excess of forty-
nline (49) hours per week.
(f) No employer shall work any accounting~, clerical, service, or
sales employee more thanr forty (40) hours per week on a semi-
yearly avrerrage, nor Imore than forty-four (44) hours per wTeek in
any two (2) successive. weeks.
(g) No employee shall work: or knowingly be permitted to work
for a total number of hours in excess of the Inumber of hours pre-
scribed for each day and week, w'hethler employed by one or more
(a) Except as otherwise hereinl provided, thae minimum wage that
shall be paid to any employee shall be forty (40) cents per hour.
(b) All employees mentioned in paragraph (f) of Article III
shall be paid at the rate of not less than $15.00 per weekr in cities
of over 500,000 population or in the immediate trade area of such
city; nor less than $14.50 per week in any cityv of between 2502000
and 500O,00 population or in the immediate trade area of such exty;
nor less than $14.00 per wF\eek in any city of less thzan 250,000 popula-
tion or in the immediate trade area of such cityr.
(c) No employees of the classes mentioned in paragraph (f) of
Article III now receiving comnpensation at a rate in excess of the
minimum provided in paragraph (b) of this Article IV, shall have
their w~eek-ly compensation reduced on account of any reduction in
the weekly hours of employment to conform with the requirements
of paragraph (f ) of Article ICII.
(d) App~~rentices as defined in paragraph (f) of Article II shall,
for the first six months of their employment, be paid at not less
than ei hty (80) percent of the minimum wage stipulated in para-
graph ( of tlus Article IV.
(e) Ofieboys and girls and messengers shall be paid at not less
than eighty (80) percent of the minimum wage stipulated in para-
graph (b) of this Article ]IV.
(f) The total number of apprentices, office boys and girls, anid
m~iessengers shall not exceed five (5) percent of the total number of
employees of any onle employer, provided, however, that each em-
ployer shall be permitted to have at least two office boys or girls or
messengers or apprentices.
(g) W~here an employee's earnings on piecework, divided by the
number of hours worked, produce a result under the minimm wtlage
stipulated in Paragraph (a) of this Article IVI, such earnings shall
be so adjusted as to conform with the aforesaid minimum wage.
(h) The hourly wage rate, the base rates for I]xecework, and salary
of all employees receiving more than the minunum rate or salary
herein provided shall be equitably adjusted if such adjustments
have not already been made.
(i) No distinction in rates shall be made between male and female
employees where the same class of work is performed, regardless of
whether compensation is calculated on anl hourly, weekrly, monthly, or
(i) No member of the Industry shall reclassify employees or
duties of occupations performed by employees so as to defeat the
purposes of the Alct.
~AnnoonC V-GEN~ERAL LeBonR PnovIazoNs
1. No person under 16 years of age shall be employed in this ~In-
dustry, and no person uner 18 years of age shall be employed in
any hazardous operation. The Code Authority shall determine wit-
in ninety _(90) days after the effective date the hazardous operations
in thze Industry and report same to thie Administrator.
2. Employees shall have the right to orgaruze and bargain col-
lectively through representatives of their own I~chosmng, and_ shall
be free from the interferencec, restraint or coercion of employers of
labor, or their agents in the designation of such rerpresentativ~es or
in self-organization or in other concerted activities for the purpose of
collective bargaining or other mutual aid or pro~tectionl.
3. N~o employee and no one seeking employment shall be required
as a condition of employment to join any company union or to refrain
from joining, organizing, or assisting a labo1r organization of his
4. Employers shall complyg with. the, maximum hours of labor
minimu rates of pay, and other conditions of employment approved
or prescribed by the President.
5. Within each State, members of the Indus-try shall comply with
any~ laws of such State imlposinga more stringent requirements regau-
lating the age of employees, wag~es, hours of work, or health, fire or
general wogrkn conditions, than under this Code.
potand thereafter maintain in conspicu'ous places, full co~pes of this
Coeand any amrendm~ents or modifications which mlay later be
.ARIrrCL VI-ALmJI ISn e~r'lon
1. To further effectuate the policies of the Act, a Code Authority
is hereby set up to cooperate with the Aldministrantor in the admin-
istration of ths Code.
2. The Code Authority! shall consist. of five members of the Stone
Finishing Machinery and Equlipment Industry. Thle Administrator
may appoint one or more~ additional rueruber~s to serve wCithoult vote.
3. IMembers of the Code Aiuthlority shall be elected at a meeting
of aUl members of the Industry, such meeting~ to be c~alledt as soon
as reasonably possible after thrte approval of this Code by the Presi-
dent and 'before the effective date. The meeting shall be called by
-thfe Allied Stone Equipmen~t & Supply Association. anld notice thereof
shall be sent byv telegraph or registered mail to every known member
of the Indfistry). The notice shall specifically state that. thae vote
at the meeting may be inl person or byT proxy.
4. The members of the Code Authority shall be elected by vote
of the members of the Industry present in person, or by proxy at
such, meeting, based upon:
(a) One member by a majorityT vote of members of the Industry
present in person or by proxy.
(b) Four members by a, 51-percent vote of members of the In-
dustry present in person or by proxy, weighted on the basis of one
vot for eachz $100,000 or fraction thereof of sales of products of
the Ind~ert"T ustry tdurn thej calendar y ear 1932, as reported to the
Seceta of he lled Stone Equipment &lf Supply Association
provided however, that each memer of the Industry shall have a~
least one vote under this Subsection (b).
(c) The result, showing the names of mlemb~ers comprising thze
Code Authority, together with its officers, shall be furnished to the~t:~t~t:~t:
Administrator prior to the effective date.
5. lMemlbers of the Code Authority to ~fill vacancies due to death
or resignations or because a member thereof hias ceased to be con-
nected wgith thelt Induxstry, shall be elected at meetings of members
of the Industry called by the Code At~uthority on notice of not less
than ten days by mail to all kinowln members of the Industry. Ati
such meetings the vote shall be taken. in the m~ianner described in
Section 4 (b) of this Article VI.
6. The Code Authority shall have the following duties and powers
to the extent permitted by the Act:
(a) To collect from members of the Industry all data, reports,
and statistics when and as required by the President and/or the
Administrator and/or their agent or agents and/or the Code Author-
ity. Such information shall be confidential. 1Each member shall.
senld his data to a; Neutral Agency designated b~y the Code Authority,
in a plain envelope contained in an envelope addressed to the Neutratl
Agency. This Neutral Agency shall assemble all such data and
present to the Code Authority only the combined totals. Each
member shall retain copies of his own data to be sent direct by him
to the Administraitor, if required by the latter. Reports submitted
b~yJ the Code Authority to the Aldministrator shall be in thre form
prescribed and/or approved by him.
(b) To represent the Industry in conferring with the Presidenrt
or his agents with respect to the administration of this Code and
in respect to the Act and any regulation issued thereunder.
(c) To hear and investigate complaints, and attempt to adjust
the same in accordance with law.
(d) To coordinate the administration of this Code with such
Codes, if any, as may be adopted by any subdivision of this Industry,
or any related Industry, with. a view to providing joint and harmoni-
ous action on all matters of common interest.
(e) To study the trade practice provisions of Article VII hereof
and thle operation thereof, and make to the Administrator from time
to timne such recommendations as it deemrs desirable, for modification
or addition thereto, which, upon the approval of the Presidenlt, after
such hearing as he may prescribe, shall become part of this Code
and have full force and effect as _provisions hereof.
(f) TPo make rules and regulations necessary for the.Adlministra-
tion of this Code.
(g):, AuIn addition to information. required to be submitted to tht hr hl efrnse ogPeneta ene
such statistical information as the Admi nist rator may deem necessary
for the purplo~ses rec~itedl in Section 3 (a) of the Adct.
7. (a) Any mecmber of the Industry is eligible for membership
in the .Assocrcation and there shall be no ineqluitable restrictions on
(b~) Any memberCi of the Industry may participate in the prepara-
tion and any revision of and additions orsuplmnst hs d
by assuming: his share of the responsibilityI ofaminis terinitb and
pa~ying hi rprpo-ralta share of the cost of creating and atdmin-
sern hit, either by becoming a member of the Association or b
paying his proper share of the costs to the Code Authority. There
shall be no Initiation fee for members of the lIndustry wh'lo paBrtici-
pate only in the Code and do not become members of the Association.
AiRrlCLE 711-U +NFAIR PRACTICES
1. F'or all purposes of this Code the following acts shall consti-
tute unfair practices and each such. act shall be a violation of this
(ab) Inducing or attempting to induce by any maeanls anuy party to
a contract with a, member of the Industry to violate such contract,
with the purpose or effect of unduly hampering, injuring, or emn-
(b) 1Makng false or misleading statements or descriptions, false
advertising, or misbranding products.
(c) Disseminating, publishing, or circulating any false or mis-
leading information relative to any product or price for any product
of anyI member of the Industry, or the credit standing or ability of
any member thereof to perform any work or manufacture or pro-
duce an product, or to the conditions of employmen among the
employees of any member thereof, having thne tendency or capacity
to mislead or deceive purchasers or prospective purchasers, or the
tendency injuriously to affect the business of competitors.
(d) For the purpose of inducing or influenemng a sale, making or
promising to any purchaser or prospective purchaser of any product
of the Induxstryr, or to any officer, employee, agent, or representative
of any such purchaser or prospective purchaser, any bribe, gratuity,
gift, or other payment or remuneration, directly or indirectly.
(e) ]For the purpose of inducing or influencing a sale, direct or
indirect, lavish or excessive entertainment of any purchaser or
prospective purchaser of the products of the Industry.
(f), Obt~aining or endeavoring to obtain business by threats or
(g) Selling or offering to sell shopworn, obsolete, second-hand, or
rebuilt products of thie I~ndustry without filing full description,
prices, ancd terms w91ith the Code Authority not less than two weeks
before such sale or offer for sale, and' stating in writing the facts
and reasons for sucht proposed disposal. The Code ALuthority shall
promptlyS notify all competitive members of the Industry of the
description, prices, and terms o~f such proposed sale.
(h), Sellinlg or offering to sell any product of the~ Inldustry made
from, any but new material, it being the intention to prohibit the
sale or offer of sale of any product of the Industry made from mate-
rial which has theretofore beel in use for any purpose whatsoever,
or which has not been purchased by the vendor as new material.
(i) Selling or offering to sell, billing, or charging; for any sale
on a quantity basis unless the quantity is definitely specified mn the
order and is to be shipped, billed, and charged within ninety (90)
days and paidc for in accordance with the established terms of' the
(j") Guaranteeing against advances and declines in prices, dis-
counts; or terms of sale of t~he products olf the Indust~ry, and givin
notce o cstoersor prospective customers in advance o h
effective date of such changes inr prices, discount, or terms of sale,
as filed with the Code Authority as provided in Section 1 of A~rticle
(k) Allowing price reductions or rebates to any purchaser on the
basis of combimlnga separate orders.
(1) Atlccepting or offering to accept old or used products of the
Industry as payment, in whole or in part, for products of the
m) Consigning products of the Industry to a consumer.
n) Improperly dating any invoice.
So) Changing quotations, except for bona fide changes in speci-
fications or to correct bona fde errors.
(p) Storing products of the Industry on the property of any con-
sumer without making reasonable remuneration for such storazige.
(q)fi Selling or offermng to sell below individual's cost. The Code
reasonably convenient determine a uniform method of cost account-
ing to be used by all members of the Industry in arriving at cost.
()Making or offering to make to a purchaser or prospective
pucaser a guaranteed or wParrant more liberal than determined
from time to time by the Code Athority and approved by the
(s) Making adjustments other than those which are strictly within
the guarantee offered at thre time of sale, except with the approval
of the Code Authority.
ARTCLE VIIhRMS A.ND PRICES
1. Since it has been the generally recognized practice of the
Industry to sell products on the basis of printed net price lists or
price lists with discount sheets, and fixed terms of sale, which are
distributed to the trade, each member of the Industry shall wiPithin
fifteen (15) days after the effective date file w7pith the Code A~uthority
his catalogues or descriptive literature of all his products of th~e
Industry, with a net prices list or a price list and discount sheet as
the case may be, individually prepared by him, showing his current
net prices or prices and discounts, maximum resale discounts and
terms of sale. Sufficient copies and revisions thereof of printed net
pric lists or price lists with discount sheets, and fixed terms of sale
sha;ll( be furnished to the Code Authority for distribution by it to
the mmembers of the Industry a;LFected thereby.
2. Revised net price lists, or price lists with discount sheets, may
be filed from time to time thereafter with the Code ~Authority by
anly member of thre Industry to bcome effective upon a date specified
byr such memern~ of the IndustryT, which date shall be not less than.
five (5) days after the filing of such. revised prices at the office of t~he
Code Authority, and copies thereof, with notice of the effective date
specified, shall be immediately sent to all known members of the
Industry affected thereby, who mnay file, if they so desire, revisions
of their net price lists or price lists withl discounts sheets, which
may take effect upon the date! when the revised net price lists or
price lists with discount sheets first filed shall go into effect.
3. If the Code Authorityr shall determine that any member of the
Industry is not selling his products on the basis of price lists, with
or without discount sheets, with. fixed terms of sale, and that a system
of selling on net price lists or price lists and discount sheets should
be put into effect, the Codle Authority shall thnereupon notify such
membr of the Industry and such member of the Industy shall,
within ten. (10) days after such notice, file with the Code Authority
net price lists ore price lists wcith discount sheets containing fixed
terms of sale. Such net price lists or price lists w~ith discount3 sheets
an t~erms of sale mray be revised in the manner hlereinabove provided.
4. No member of the Industry shall sell or exchange any product
of he ndutryat rices lower or with discounts greater or on more
libraltems f slethan the schedule of su~ch member on file at
thre office of the C~ode Authority as above provided. Each invoice
shall show in detail the identity of the product and unit price
5i. -Each member shall advance, as a matter of record for use of the
membership, credit information the lack of which would otherwise
jeopard~ize the best interests of the members with certain customers.
(a) Customers' accounts with individual members requiring legal
action for collection and accounts not taken care of for a period of
ninety (90) days which are still being carried on the books of indi-
viadual t membersan in whilch, every reasonable effort has been
mad bythemeberto olect shllbe recorded with a Neutral
Agency designated by the Code Authority and furnished by the
Neutral Agency to other members upon their request.
(b) Cust~omers' accounts not settled due to disputed claims shall
be so .recordled with thie Neutral AgencyV, with full information as to
the nature of such dispute.
(c) Any membr may request from the Neutral Agency such credit
information as he may desire relative to customers in the trade. If
no such information is on file w~ith. thie Neutral Agency, the Nectutral~
Agency shall endeavor to obtain such information from members of
the Industr. U~pon receiving such credit information from. the
members, the NI~eutral Agency shall make it available to the inquiring
member and make a record of the data, which record shall be always
open to inspection by thet Code Authlority and the Administrator.
(d) Any member advancingr false or misleading credit information
to the said Neutral Agency regarding any cusrtomer shall be? guilty of
a violation of this Code.
6. No member of thke Industry shall allowFP more liberal terms than
(at) A cash discount not exceeding two percent of the amount of
the invoice if invoice is paid on or before the ~tenth day of the month
following date of invoice.
(b) The free credit period shall not exceed sixty (60) days from
date of invoice. Interest at the rate o-f six (6) percent shall be
charged on all invoices remaining unpaid beyond thje free credit
ArrTICLE IX-- ENERAL
1. This code and all the provisions thereof are expressly made sub-
ject to the righ of the President inz accordance with the provisions
of Section 10 (b) of the Act, from time to time to cancel or modify
any order, approval, license, rule, or regulation issued under Title I
of the said Act and _specifically, but without limitation, to the right
of the President to ca ncel or modify his approval of this Code or any
conditions imposed by himrr upon his approval thereof.
2. Such pr~ovisions of this Code as are not required to be included
therein by the Act may, with the approval of th President, be
modified or eliminated as c~hanlges in thle circumstances or exper-
ielnc~e may indicate. It is contemplated that from time to time~ sup-
plemlentary provisions to this Code or additional Codes wmill be
submit~ted for the approval of the Pre~sident to prevent unfair
competition in price and other unfair anrd destructive competitive
practices and to effectuate the other purposes and policies of Title I[ of
the Act consistent with thie provisions thereof.
3. No provision. in this Code shall be interpreted or applied in
such m~aner as to--
(a) Promote monopolies or monopolistic practices.
(b) Premit or encourage unfair competition.
(c) Eliminate or oppress small enterprises.
(d) Discriminate against small enterprises.
4. If any mlember obf this Industry is also a member of any other
Industry, the provisions of this Code shall apply to and abfflect only
that part of the business and employment of such member of thte
Industry whiich. is a part of the Industryr covered b~y this Code.
ARTICLE XL-EFFECTIVE DATE OF THCIS CODE
This Code shall be in effect on the eleventh day after its approval
byr the President, and shall apply to every person engaged in the
Industryv either as an employer or on his own behalf.
Approved Code No. 158.
Registry No. 1899-26.
UNIVERSITY OF FLORIDA
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