NATIONAL RECOVERY' ADMINISTRATION
CODE OF FAIR COMPETITION
M.ANUFACTU RI NG I INDUSTRY
WE DO OUR PART
UN!V. OFk FL Lial
U.S. DIEP~1OSITO~rYpie l
2. Letter of Transmittal
War asle by the Sulperintendent of Documents, Washington, D.O. - Price 5 cents
Approved Code No. 178
Registry No. 1225--01
AS APPROVED ON DECEMBER 23, 1933
GOVERNMENT PRINTING OFFICE
This publication is for sale by the Sup~erintendent of Documents, Government
Printing Office, Washincton, D).C., and by district offices of the Bureau of
Foreign. and Domnestic Commerce.
DISTRICT OFFICES OF THfE DEPARTMENT OF COMMERCE
Atlanta, Ga.: 504 Post Office Building
BirmninehanI1. AIla.: 257 Federal ]Building.
Boston, Ala--i 1801 Customhlouse.
Buffalo, N".Y.: Chamber of Commerce Building.
Charleston, S.C.: Chamber of Commerce Building.
Ch~iicago, Ill.: Suite 1706, L'01 North W~ells Street.
C'le\.eland1I, Ohio: Chamber of Commerce.
Dallas, Tex.: C~hamber of Commerce Building.
Det (roi t. M ic hl.: 2213 F'irst National Bank- B~uildinlg.
Houston, Tex.: Chlambler of Commerce Building.
Indlianapolli Ijc. Ind.: Chanmber of Commnerce Building.
Jackisonville. F'la.: Clhamber of Commerce Building.
Karnsas City, M o.: 1028 B3altimore Avenue.
Los \IIII:-. Calif.: 116i3 South Broad'.\-i.-
Lesul--\ille iv.: 410% Federal Pcib~lline.
Memphl~iji-, Tenn.: 0I Fede~rt.lI Hiihhne~i.
Mlinneapo,< lis,, MInn : 21;1 F'Ialerns! thubling).
New\\ O'rleans, La.: Rtooml 225-A, Culstomhouse,
N~ewv York, I\.Y.: 73j4 Customlhouse.
No~rfolk, Va.: -!01. East Plume Street.
Phlil:klphi~~ili.1 Pa. C: 033 Commercial T'rust Biiildling.
Pittsb~urghl, Pa.: Chamber of Commercee BuIlingio.
Portland, Oreg.: 215 N~ewT Post Office Bulild~ing.
St. Louiis, Mlo.: 5001 i li\.e Street.
San Francisco, Calif.: 310 Customhouse.
Seattle, Wash.: 809 Federal Building.
Approved Code No. 178
COD)E: OF FAIR COMPETITION\
W~ATICHCI CASE MANUFACTURING ]UINDUSTlCRYi
As Approved on December 23, 1933
A~n application having been duly made, pursuant to and in full
compliance with thre provisions of Title I of the National Inldustrial
Recovery Act, approved June 16, 11933, for my approval of a Code
of Fair Competition for the W~Satch Case MSlanufacturing Industr~y,
and hearings having been held thereon and the Administrator hav-
ing rendered his report containing an analysis of the said code of
fair competition, together with. his recommendations and findings
with. respect thereto, and the Administrator having found that t~he
said code of fair competition complies in all respects with the perti-
nent provisions of Title I of said A-ct and that the requirements of
clauses (1) and (2) of subsection (a) of section 3 of the said Act
have been met:
NOWV, THEREF"ORIE, I, Franklin D. Rooseveltl President of
the United St~ates, pursuant to the authority vested in me by Title
I of the Nationlal 'Industrial Recove~try Act, approved June 16, 1933,
and otherwise, do adopt and approve the report, recommendations,
anrd findings of thne Administrator and do order that thze said code
of fair competition be and is hereby approved.
FRANKLIN D. ROOSEVEL~T.
Approval recommended :
HonGI 8. Jo~ENwon,
THE HYE HOUSE,
December 98, 19393.
DECEMB ER fs, 1_933.
The White House.8
Smz: A Public Hearing on. the Code of Fair Competition for thle
Watch Case Mannufacturing Industry of the United States, submitted
byT the Nationral Watch Case 1Manufacturers Association, 20 Wjest 47th
;Street, New Yorki City, was conducted in Washaington. on. the 29th
of September 1933 in accordance with the provisions of the National
Industrial Recovery Act. T'he ~Association claims to represent ap-
proximately 79 percent of the industry.
The maximum hours established in this code are forty (40) per
week, with a provision for peak demand periods of 96 hours per y~ear
in excess of the maximum, provided time and one third is paid for
all hours per week over forty (40).
The establishment of a 40-hour week by the code will not reabsorb
any of the unemployed in this industry', num~bering approximate
2,250 w~orkers. The amount of production as well as the numbller o
workers employed ini this industry has stcndily fallen since 1923,
with the r~esult that where 4,325 workers were employed in 199~3, only
1,150 were employed in the industry during thne first six months
In order to reemploy the w~ork~eri who have btcomellt dtChed~'IC: froml
the industry since 1923 it would be ncesary~1 to establish an eleven-
hour week, assuming that production will be maintained as of
T~he average for all facto.r~y employees in this industry in 19-29 w~as
555hor per e week. In April 1932 average hours had droprlped to
29 pr wek.A slight improvement w~as registered in April 1933,
when the average rose to 32 hours per week.
The minimum wage establishedl in the code is ZSW per hour, or
$14~.00 per week. It Is estimlatdcl thnat raising the w~ngc< of empllloyees
receiving below this minimum (apl~proximlately 26 ecnto h
total-l) would add about 5 percent to the pay roll o h nuty
However, the code also provides that the wages: of those emnploye~es
receivingr com-rpensation In excess of the minimum shall be equitably
adjusted where practicable, which will undoubtedlly inclrease the pay
roll to some exte~nt.
The effect of wage increases on selling pri(cesi sh~oulld not amnounlt to
more than three or four percent. HowFever, the inlcreasing p~ic~e of
gold will undoubtedly have a considerable effect on the prices of th~e
products of this industry.
A~t the Public Hearing all factors were in completed ag~crneemen that
the present loose stamping standar1ds are wo-efullly inadequatent and
operate to the rlistinct and clefinite disadvantalge of the consonwrlcr the
employer, and the employee. The Code, therefore, pr~ovictes stanid-
ards for the products of this industry which wiill eliminate these
evils and work to the advantage of everyone concerned.
The Administrator finds that:
(a) The Code as rercommlen d~ed comlpliesc in all respects with the
pertinent provisions of TIitle I of the Act, inc~uluing,, without limita-
tion, subsection (at) of Section 7 and subsection (b) of Section 10
thereof ; and that
(b) The WPatch Case Mdanufacturers Association, the applican~t
group herein, imposes no inlequitable~t restrictions on admnission to
membershipi l and is truly represelnntatie of the WFatch Case Masnufac-
turing IndulstryJ; and that
(c) The Code as recommended is not designed to promote monopo-
lies or to eliminate or oppress small enterprises and will not operate
to discrimninate against them~ and will tend to effectuate the pohey of
Title I of the National Industrial Recovery Act.
The WI~atch~ Case MaInufacturiner Indulstry has cooperated in a most
satisfactory manner with the At~.ministra-tion in the preparation of
this Code. F'rom the evidence adduced during this hearing and
from recommendations and reports of the various Advisory Boards
it is beliieved that this Code as now proposed anrd revised represents
an effective, practical, equitab~le solution for this industry, and its
approval as haerewcith submitted is recommended.
Hoonc 8. Jonruson,
WATlrlCHI CASE MANUFACTURING INDUSTRY
To effectuate the policies of Title I of the Natio~nal Indust~rial
Recovery Act, this code is submitted as a Code of Fair Compet~ition
for the W~atch Case Maonufacturing Industry, and upon approval by
the President its pr~ovisjions shall be the standlar~d of fair competition
for such industry and shall be binding upon every member thereof.
AnaTILc II DEFINITIONS
1. The term W~atch Case Mafnufac~turing I~ndustry as used
herein is defined to mean the manufacture and sale by the manufalc-
turer, of any case, covering~, or housing, of any quality or descriptions,,
for a timel-kieeping device inltemledl to be worn on or about the p~erson.
2. The term emploSyee as used herein shall include all pers~ons
em~ploy~ed inl any capacity in the c~onluc~t of any branch of the watch
case manufacturing indutryt3 as definedl abovre, receivingr compnsa"~-
tion for his services, irrespective of thre natulre or method of paymelnt
of such c~om~pes n t ion.
3. The term "' employer "" as used herein shall include all those who
employ labor in thet conduct of any branch of the watch case manu-
facturing inldustry' as defined above, and anyone by whom such
employee is compensated or employed.
4. TIhe term "' member of the industry "" includes anyone engaged
in the industry as definled~, either as an epl~l>oyer or on his o~wn
5. The terms "Act and "Administrator "' as used herein shlln1
mnean, rcsp~ectively, Title I of the National Industrial Recovery Act
and the Adminillstrator for Industrial Recoveryr.
1. NJo employee shall be permitted to work in excess of forty(40)
hours in any one w7seek, or eight (8) hours in any3 twenty-four(4
hour period, except that due to sea-sonlal peak demand period's, w7Eith
thne app~roval of the Administrator, an aggregate of ninlety-six DG
hours per year inl exCeCSS of the mnaximum~ shall be allowed provided,
however, that time and one third shllaT be paid forl all hours pecr weeuk
over forty (40).
2. The maimuln~ m hours fired in the foregroingE eshall not app('ly:to
executives anld emp~loyees in managerial capaciiewhnoreie
th-irty-five dollars ($:j5.0i0) per weekl or mnore; nocr to outside salers-
mnen; nror to emelrlgencyl r~epair crews while enlgagedl in emlergenc
CODE: OF FIiAIR COMPETI[TION-
repair work, involving breakdowns or protection of life and prop-
erty; provided, however, that emergency repair crews shall be paidr
one and onJe half times their normal rate of pay for all hours in
seess of forty (40) per week.
1. NIo employee in. the Wmatch Case ~Manufacturing Industry shall.
be paid at less than the rate of fourteen dollars ($14.00) per week of
forty (40) hours or thirty-~five cents (354) per hour.
2. In the case of employees performing work for wcphich they are
paid per piece of' work performed, the minimum pay which each
member of the industry shall pay for such work shall not be less
thzan thzirty-five cents (355) per hour of labor. This Article estab-
lishes a mlinlimum rate of pay, regardless of whether an employee
is compensated onl timne rate, piecewsrork: performance, or other basis.
8. It is the policy of the members of this industry to refrain frm
reducing thne weekly rate of compensation of employees whose said
rate of compensation is above thre minimum rate established in this
Article. As far as practicable the rates of compensation for various
labor operations which receive more than the minimum shall be
equitably adjusted, due account being taken of the number and ex-
tent of such dowF7nwaTrd adjustments as ma~y have been made in any
individual case prior to May 1, 1933, as well as of the number and
extent of such upward adjustments as may have? been made sub-
sequent to that d~ate. Within thirty (;30) days each manufacturer
shall report to the ACdministrator through the Code Authority all
readjustments of wage rates made in accordance with this section.
4. Fiiemale employees performing substantially the same work as
male employees shall receive the sam~e rates of pay as male employees.
ArICLE: V--GENEAL LBon PRovisionLs
1. No person under sixteen (16) years of age shall be employed
in the industry-, nor anyone under eighteen (18) y-ears of age at
operations or occupations which are hazardous in nature or detri-
mental to health. The Code Authority shall submit to thte Adminis-
trator before January 1, 1934, a list of such occupations. In any
State an employer shall be deemed to have complied with this provl-
sionl if ~he shall have on file a certificate or permit duly issued by the
authority in such State empowered to issue employment or age certif-
icates or permits, showing that the employee is of the required age.
2. In compliance with. Section 7 (a) of the Act, it is provided:
(a) Employees shall have the right to organize! and bargain collee-
tively, through representatives of their own choosing, and shall be
free rom the interference, restraint, or coercion of employers of
labor, or their agents, in the designation of such representatives or in
self-organizatiion or in other concerted activities for the purpose of
collective bargaining or other mutual aid or protection.
(b) No employee and no one seeking emlploymnent shall be required
as a condition of employment to join any company union or to refrain
from Joinng, organizing, or assisting a labor organization of his own
(c) Emlployers shall comply with the maximnum hours of labor
minimum rates of pay, and other conditions of emuployment approved(
or prescribed by the President.t
3. Within each State this Code shall not supersede anly lawcs of
such State imposing more stringent requirements on employers regu-
lating the age of employees, wages, hours of work, or general work-
ing conditions than under this Code.
4. Employers shall not reclassify employees or duties of occupa-
tions performed by employees so as to defeat the purposes of the
5. Each employer shaall post in conspicuous places full copies of
6. On and after the effective date of this Code all home workr shall
7. No employee shall be permitted to work for a total numbler of
hours in. excess of the number of hours pr~escr~ibed, whether he be
emplye by one or more employers.
8. I anyemployer in the W~atch Case Manufacturing Industry is
also an employer of labor in anyV other industry, the provisions of
this Code shall. apply to and affect only that part of the business of
such employer which is included in the Watch Case M~anufacturing
To further effectuate the policies of the Act, a Code Authority is
~hereby established to cooperate with the Admtninistrator in the ad-
ministration of this Code.
SEcTIrON 1. Org(~~ amizain, an~d Constitu~tion, of Code~ Aulthorit!;---
(a) The Code Autho~rity shal~l consist of five mlemnbers of the Tlrulus-
try, or such other number as m~ay be a.pprovedt from time to time by
the A~dministrator, to be chosen by a fair method of selection, ap-
proved by the Admlinistrator. The Admlinistrator at his discretion,
may appoint not more than three additional menlilers, without vote
and without compensationI from the industry, to relr~esenlt the Admin-
istrator and to serve for such time ats he mlay decsigniate.
(b) The National WOatch Case Mannufactulrers' Associat~ion shall be
the agency under the Code Authority for adminiisteringa the pro-
visions of this Code. This Association or any other industrial associ-
ation directly or indirectly participating in the selection or activities
of the Code 1Authority shall subnut to the! Admin~istrator true copies
of its articles of association, bylaws, regulations, and any amelll-
ments when made theret~to, together with such other information as to
membership, organization, and atctivitie~s as the Aidministrator may
deeml necessary to e~ftectuate the purposes of thle Act.
(c) In order that thze Code Authority shall at all times be truly
representative of the industry and in other respects comply wfith the
provisions of the Act, the Ad~ministrator mayg provide such hearingrs
as he may deem proper; and thereafter if he shall find that the Code
Aulthor~ity is nlot truly representative or does not in other resp~cts
comply i~tlh the provilsions of the Act, may requ~ire an appropriate
modification in the method of selection of the~ Co!de Authority.
(d) No inequitable restrictions on admission to membership in the
National Watch Case Manufacturers' Association or any other trade
association or organized group, participating in thae activities of the
Code Authlority shall be imposed, and anyv member of the industry
shall be eligible for memberships in any such trade association or
organized group upon compliance with the provisions of the bylaws
relating to m~embers~hip, provided that any person applying for such
memnbership shall, inr addition to the payment of such dlues as are
imposed and paid by all other members, accept a reasonable and
equitable share of the expenses of administration. Such. members
of the industry who do not choose to become members of any trade
association or organized group may participate in the activities of
the Code Authority as herein provided by paying to thre Code
Authority such proportionate part of the expenses of administration
as the Code Authority, subject to the Administrator's approval, shall:
prescribe as fair and equitable.
SEc. 2. Potoere anzd Dutiaes.--The Code Authority shall have the
following further powers and duties, the exercise of which shall be
reported to the Administrator and shall be subject to his right, on'
review, to disapprove any action taken by the Code Auithority
(a) To insure the execution of the provisions of this Code an
provide for the compliance of the industry with the provisionso
(b) To adopt bylaws and rules and regulations for its procedure
and for the admilnistration and enforcement of the Code.
(c) Tro obtain from mebers 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 Adm~inistrator mayp deem necessary for the purposes
recited in Section 3 (a) of the Act, which information and reports
shall be submitted by members to such administrative and/or gov-
ernment agencies as th~e Administrator may designate; provided that;
nothing in this Code shall relieve any member of the industry of anry
existing obligrat~ions to furnish reports to any government agency.
No individual~ reports shall be disclosed to any other member of the
industry or any other party except to such govermetal agencies as
mrray be directed by the Admuu' strator.
(d) To regulate the disposal of distress, obsolete, and/or discon-
tinue merchandise in a w\7ay to secure the protection of the owners
and to promote sound conditions in the Industry.
Seo. 3. For the purpose of administering the provisions of this
Code, the Code Authority, by its duly authorized- representatives,
not engaged in the Industry, shall have access to any and all statisti-
cal data that may be furnished in accordance with the provisions of
this Codez and wherever such :representatives may discover support-
in~ :facts indicating a violation of this Code, they shall furnish. any
andh all statistical data pertaining to such violation to the Code ABu-
thority and the Admimetrator.
ARrxcueP VII-RAE NOTICE
The following practices constitute unfair methods of competition
and are prohibited.
S~EcTIOu 1. To sell or offer for sale any product of the industry
below cost, as determined by an adequate cost accounting system to
be formulated by thae Code Arut~hority and approved by the Adminis-
trator. However, any member of the industry shall be permitted
to sell belowc cost when necessary to meet the competitive price of a
lower cost producer.
SEc. 2. To manufacture anly merchandise so as to simulate obso-
lete and/or discontinued merchandise, anld to sell or o~fer to sell the
same in such a mannler as to frustrate the spirit of this Code. Pro-
v-ided that anly actually obsolete and/or discontinued merchandise
may be sold at less than cost; such sales to be reported to the Code
Authority within five days of the date thereof giving the quantity
and price, together with any pertinent facts requested by the Code
SEC. 8. NO Ilember of the industry shall give, permit to be given,
or directly o~fer to give, anything of va~lue for the purpose of mflu-
enemng or rewarding the action of any employee, agent, or represent-
ativ-e of another in relation. to the business of the employer of such
employee, the principal of such agent, or the represented party,
without toe knowledge of such employer, principal, or party. Com-
mercial bribery provisions shall not be construed to prohibit free
and general distribution of articles commlnonly used for advertising
except so far as such articles are! actually- used for commercial
bribery as hereinabove defined.
SEO. 4. The making, or causing, or knowingly permitting to be
made or published, any false, substantially 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 indus-
try, or otherwise, tending to mislead or deceive customers or prospec-
SEc. 5. The imitation of the trade marks, trade names, slogans,
original designs, or brands, or other marks of identification of com-
petitors, having the tendency and capacity to mislead or deceive
purchasers or prospective purchasers.
S;Ea. 6. To0 makre and supply exclusive models without including in
the invoice as a separate item, the cost of any dies and tools especially
made for the production.
SEC. ?. T0 supply, without charge, crystals, straps, bracelets,
crowns, bows, pendants, or other parts; or to repair without charge
except for manufacturing defects, worn cases, crystals, straps, brace-
lets, or parts.
SEC. 8. To disseminate, publish, or circulate any false or mislead-
ing information relative~ to the conditions of employment of any
member or to any product or price for any product of anly member
of the industry, or the credit standing or ability of any member
thereof to perform any work, or manufacture or produce any product.
SEC. 9. To1 mak~3e or give anry guaranty of protection in antly Iformn
against advance or decline in the market price of any product.
SEc. 10. To grant secret payments or allowances of rebates, re-
fuds, commrilrssions, credits, or unearned discounts, whether in the
form of money or otherwise, or to, grant any s~cre~t extension to
certain purchasers of special services or privileges not extended to all
purchaoserls on like terms and conditions.
SEC'. 11. T0 shnip goods, except samples, on conlsignment or memno-
SEC. 12. I'O Sell On terms greater than two (2) percent tenth (10th)
of monnth following, net sixty (60) dayrs.
1. N~o member of the Industry shall manufacture, sell, or offer
for sale, any watch case, on the outside surface of which he has not
indelibly and legibly stamped in some visible place his name or
duly registered trade mark, accompanied by a quality mark equally
indelible. and legible, in accordance with the following standards
(a) No watch case may be stamped, tagged, or described with
the word Qualit "l or with any other words or form of words
denoting quality ',other than with one of the six specific quality
marks as follows:
(1) No watch case mray be stamped, tagged, or described with
the quality marry Platinum unless every part of said case, free
from solder, and excepting the crown, shall consist of at least
rhduia985/ 1000th pat of p latmnum, iridiuma, palladium, ruthenium,
case, exrclusivre of the crown, shall consist of at least 950/1000th
parts of pure platinuml. In no case may the woPord "' Platinum be
(2) No watch case may be stampd tagged, or described withz
thae quality~ mark. Solid Gold "unes accompanied by its proper
harat mar, and unless every part of the case, free from solder,
shall assay in actual fineness, within three one-thnousandth
(3/1000th) parts of the fineness indicated by said karat mark; and
unless in addition, the entire case exclusive of the crown, shall assay
within one half karat fineness of the fineness indicated by said karat
mark. In no case may the works Solid Gold be abbreviated.
(3) No watch case ma~ be stamped, tagg-ed, or described with the
quality mnark '"Sterling unless every part of the case, free from
solder, shall assay nine hundred a~nd twPent-five one-tousandths
(925/1000th) pure silver with a tolerance of four one-thousandthis
(4/1000th), and unless in addition, the entre watch case exclusive
of the crown, shall assay ncine hundred and twenty-five one-th~ou-
sandths (925/1000th) pure silver, with a tolerance of ten. one-thou-
sandths (10/1000th). In no case may the wTord Sterling be
abb re vi ated.
(4) No wPatch case may be stamped, tag~gedl or described with the
quality markr Gold Filled unless accompanied by its proper karat
mark, and unless the sheet of gold affixed, brazed, or fu~sed to the
outer surface of the back, centr, lugs, open face bezel, pendant,
crow7Pn, and bow, shall be three onethousandths (3/1000th) of an
inch in thicknress as a minimum~; and unless the sheet of gold affixed,
brazed, or fused to the inner surface of thte backr, the inner and
outer surfaces of the cap, and the outer surface of the hunting bezel,
shall be one one-thousandth (1/1000th) of an inch in thickness as
a minimum. In Ino case may the words Gold Filled be
(5) No watch case may be stamped, tagged, or described with the
quality mark Rolled Gold Plate unless necrompanied by its proper
karat mark, and unless the sheet of gold affixed, brazed, or fused to
the outer surface of the back, center, lugs, open face bezel, pendant,
crown and bow, shall be olne and one-half one-thousandth~s
(12/g/1000th) of an inch in thickness as a minimum. In no case mayT
the words R~olled G~old 1Plate be abbreviated.
(6) No mnlsrufacturer shall Imake or offer for sale~ any watch case
which does not contain Platinumn, Gold, or Silver in quantity as
determined by the Code Authority, unless he shall stamp the words
" Base Mletal "legibly and indelibly on thre outside surface of said
watch case, as provided in the first paragraph of thlis A~r~ticle. In no
case ma~y the words Base Metal be abbreviated.
2. The quality marks Solid Gold ", "L Gold Filled "2 and Rolled
Gold Plate shall be accompanied in every instance with the proper
karat mark: provided, however, that no watch case may be stamped
with. any such quality mark unless it shall be of a quality of 10
karat fineness or greater. inch marks shall mean t at the gold
employed in all component parts of such watch case are of the
~fineness so stamped.
3. For the purpose of determining the legitimate use of specific
trade names or marks on or in. connection with wFPatch cases of any
given quality, each manufacturer shall file with the Code Authority
a complete list of trade names or marks specifying inl each case the
grade or quality of thie cases on which he proposes to stamp such
names or marks; anld the Code Authority, wcith the approval of the
Administrator, shall decide as to the proper use of such. names or
4. It is hereby' specifically provided that watch cases completely
manufactured prior to the effective date of this Code shall be exempt
from the provisions of this Article, provided that each member of
the Industry shall, within thirty days after said effective date.,
certify under oath to the Code Authority, the number, type, m~ark-
mngs, quality, and serial numbers, if any, of such completed watch
cases as he has in finished stock on that date, and that sales of all such
watch cases shall be reported monthly to the Code Authority, by the
manufacturer, in detail, as to the date of sale, nlam of purchaser
number, type, markings, quality, and serial number, if any; and
provided furter that unless stamped in. compliance with the pro-
visions of this Article, regardless of the date of its manufacture,
no watch case shall be sold, or offered for sale, after July 1, 1934,
or such reasonable extension beyond said date as may be granted by
the Administrator upon application therefore.
SmarcroN 1. This Code and all the, provisions thereof are expressly
made subject to the right of the President, in accordance with thie
provisions of subsection (b) of Section 10 of the Act, from, timae to
time to ca neel or modify any order, approval, license, rule, or
regulation issued under said Act.
SEC. 2. This Code, ecepclt as to provisions required by the Act,
maty be mlodlifiedl or nlllnende on the basis of experience or changes
in circumstances, such mod,~ifc~icatins or amlenldowlnts to be based
upon" application to the Administrator and such notice and hear-
ing as he shall specify, and to become effective on approval of the
Presidelt, unless otherwise provided.
AnnIC.LE, X-MihONOO LIES
SF.CnoC) 1. No provision of this Code shall 'be so applied as to
permiiit, monopolies or monopolistic practices, or to eliminate, oppress,
or discr~iminutet qu:inst small enterprises.
A-RTICLE XLI-PRICE INCREASES
SECTION 1. Whereas the policy of the Act to increase real pur-
chasing power wNill be made more difficult of consummation if prices
of go-ods and services increase as rapidly as wages, it is recognized
that price increases, except such as may be required to meet indi-
vidual cost, should be delayed, but when made such increases should,
so far as possible, be limited to actual additional increases in the
A4RTICILE XII-EFECTIV DATE:
This Code shall become effective on the second Mondayp after its
approv"l by the President.
Approved Code No. 1'78.
iegistry No. 122.-"41.
UNIVERSITY OF FLORIDA
II I 1 1 1 1III 1 I II lll Illllm lil
3 1262 08582 8704