Citation
Amendment to code of fair competition for investment bankers as approved on February 1, 1934

Material Information

Title:
Amendment to code of fair competition for investment bankers as approved on February 1, 1934
Portion of title:
Investment bankers
Creator:
United States -- National Recovery Administration
Place of Publication:
Washington, D.C
Publisher:
United States Government Printing Office
Publication Date:
Language:
English
Physical Description:
3 p. : ; 24 cm.

Subjects

Subjects / Keywords:
Investment bankers -- Law and legislation -- United States ( lcsh )
Genre:
federal government publication ( marcgt )
non-fiction ( marcgt )

Notes

General Note:
Cover title.
General Note:
At head of title: National Recovery Administration.
General Note:
"Registry No. 1707-04."
General Note:
"Approved Code No. 141. Amendment No. 1."

Record Information

Source Institution:
University of Florida
Rights Management:
This item is a work of the U.S. federal government and not subject to copyright pursuant to 17 U.S.C. §105.
Resource Identifier:
004930918 ( ALEPH )
645162879 ( OCLC )

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:: pp'd Code No. 141. Amendment No. 1.


NATIONAL RECOVERY "


Registry No. 1707-04


ADMINISTRATION


AMENDMENT TO

CODE OF FAIR COMPETITION

FOR


INVESTMENT BANKERS


AS APPROVED ON 'FEBRUARY 1, 1934








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WE DO OUR PART




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UNITED STATES
GOVERNMENT PRINTING OFFICE
WASHINGTON: 1934


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W,:i r sale by the Superinte9eat of Documents, Washington, D.C. Price 5 cents


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This publication is for sale by the Superintendent of Documents, Government
Printing Office, Washington, D.C., and by district offices of the Bureau of
Foreign and Domestic Co nmerce.
DISTRICT OFFICES OF THE DEPARTMENT OF COMMERCE
Atlanta, Ga.: 504 Post Office Building.
Birmingham, Ala.: 257 Federal Building.
Boston, Mass.: 1801 Customhouse.
Buffalo, N.Y.: Chamber of Commerce Building.
Charleston, S.C.: Chamber of Commerce Building.
Chicago, Ill.: Suite 1706, 201 North Wells Street.
Cleveland, Ohio: Chamber of Commerce.
Dallas. Tex.: Chamber of Commerce Building.
Detroit, Mich.: 801 First National Bank Building.
Houston, Tex.: Chamber of Commerce Building.
Indianapolis, Ind.: Chamber of Commerce Building.
Jacksonville, Fla.: Chamber of Commerce Building.
Kansas City, Mo.: 1028 Baltimore Avenue.
Los Angeles, Calif.: 1163 South Broadway.
Louisville, Ky.: 408 Federal Building.
Memphis, Tenn.: 229 Federal Building.
Minneapolis, Minn.: 213 Federal Building.
New Orleans, La.: Room 225-A, Customhouse.
New York, N.Y.: 734 Cugtomlouse.
Norfolk, Va.: 406 East Plume Street.
Philadelphia, Pa.: 422 Commercial Trust Building.
Pittsburgh, Pa.: Chamber of Commerce Building.
Portland, Oreg.: 215 New Post Office Building.
St. Louis, Mo.: 506 Olive Street.
San Francisco, Calif.: 310 Customhouse.
Seattle, Wash.: 809 Federal Office Building.












Approved Code No. 141. Amendment No. 1


AMENDMENT TO CODE OF FAIR COMPETITION
FOR

INVESTMENT BANKERS

As Approved on February 1, 1934





ORDER

APPROVING MODIFICATION OF THE CODE OF FAIR
COMPETITION
FOR

INVESTMENT BANKERS

An application having been duly made pursuant to and in full
compliance with the provisions of Title I of the National Industrial
Recovery Act, and particularly with Section 10 (b) thereof, ap-
proved June 16, 1933, for approval of a modification of a Code
of Fair Competition for Investment Bankers, and the annexed re-
port on said modification, containing findings with respect thereto,
having been made and directed to the President:
NOW, THEREFORE, on behalf of the President of the United
States, I, Hugh S. Johnson, Administrator for Industrial Recovery,
pursuant to authority vested in me by Executive Orders of the
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 modification and the Code as
constituted after being modified 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 modification
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 modified.
HUGH S. JOHNSON,
Administrator for Industrial Recovery.
Approval recommended:
A. D. WHITESIDE,
Division Admndistrator.
WASHINGTON, D.C.,
February 1, 1934.
37604"--313-18---34 (1









The PRESIDENT,
The WhitV/ House.
SIR: This is a report on a modification of the Code of Fair
Competition for Investment Bankers, increasing the membership
of the Investment Bankers Code Committee from five members
representing Investment Bankers to twenty-one such members.
The Assistant Deputy Administrator in his fMial report to me on
said modification of said Code, having found as herein set forth
and on the basis of all the proceedings in this matter:
I find that:
(a) The modification of said Code and the Code as modified are
well designed to promote the policies and purposes of Title I of
the National Industrial Recovery Act including the removal of
obstructions 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 among trade groups, by
inducing and maintaining united action of labor and management
under adequate governmental sanction and supervision, by elimi-
nating 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) The Code as modified complies in all respects with the perti-
nent provisions of said Title and said Act, including without limita-
tion Subsection (a) of Section 3, Subsection (a) of Section 7, and
Subsection (b) of Section 10 thereof.
(c) The Investment Bankers Association of America was and is
truly representative of the Investment Bankers and that said Associ-
ation imposed and imposes no inequitable restrictions on admission to
membership therein and has applied for or consents to this modifi-
cation.
(d) The modification and the Code as modified are not designed
to and will not permit monopolies or monopolistic practices.
(e) The modification and the Code as modified are not designed to
and will not eliminate or oppress small enterprises and will not
operate to discriminate against them.
(f) Those engaged in other steps of the economic process have not
been deprived of the right to be heard prior to approval of said
modification.
(g) The enlargement of membership on the Investment Bankers
Code Committee is desirable and will result in the Committee being
more representative of Investment Bankers, as a whole, by making it
possible to have representatives thereon from all parts of the country.
For these reasons this modification has been approved.
Respectfully,
HUGH S. JOHNSON,
Adm inistrator.
FEBRUARY 1, 1934.




















AMENDMENT TO CODE OF FAIR COMPETITION


FOR

INVESTMENT BANKERS


Modification of Section 1, Article III:
To cooperate with the Administrator in the administration of this
Code there is hereby constituted an Investment Bankers Code Com-
mittee. Such Committee shall consist of fifteen members appointed
by the President of the Investment Bankers Association of America;
six members chosen by a fair method approved by the Administrator
to represent employers not members of the Investment Bankers
Association of America; and a representative or representatives with-
out vote appointed by the Administrator. The twenty-one voting
members of the said Committee shall be appointed or chosen from
assenting employers.
Approved Code No. 141. Amendment No. 1.
Registry No. 1707-04.
(3)




UNIVERSITY OF FLORIDA

3 1262 08585 3140


(I




Full Text

PAGE 1

Approved Code No. 141. Amendment No. 1. Registry No . 1707-04 NATIONAL RECOVERY ADMINISTRATION AMENDMENT TO CODE OF FAIR COMPETITION FOR INVESTMENT BANKERS AS APPROVED ON FEBRUARY 1, 1934 WE DO OUR PART UNITED ST ATES GOVERNMENT PRINTING OFFICE WASHINGTON: 1934 I 1 I 1 I For sale by the Superintendent of Documents, Washington, D.C. -Price 5 cents v'

PAGE 2

This publication is for sale by the Superintendent of Documents, Government Printing Office, Washington, D.C., and by district offices of the Bureau of Foreign and D.om.estic Co.t..t1mere-e. DISTRICT OFFICES OF THE DEPARTMENT OF COMMERCE Atlanta, Ga. : 504 Post Office Building. Birmingham, Ala. : 257 Federal Building. Boston, Mass. : 1801 Customhouse. Buffalo, N.Y.: Chamber of Commerce Building. Charleston, S.C.: Chamber of Commerce Building. Ch icago, Ill.: Suite 1706, 201 North "\Vells Street. Cleveland, Ohio: Chamber of Commerce . Dallas. T ex.: Chamber of Com m e r ce Building. Detroit, Mi c h. : 801 Firs t National Bank Building. Houston, Tex.: Chamber of Commerce Building. Indianapolis, Ind.: Chamber of Commerce Building. Jacksonville, Fla.: ChambeT of Commerce Building. Kansas City, Mo.: 1028 Baltimore Avenue. Los Angeles, Calif. : 116-3 South Broadway. Louisville, Ky. : 408 Federal Building. Memphis, Tenn.: 229 Federal Building. Minneapolis, Minn. : 213 Federal Building. New Orleans, La.: Room 225-A, C ustomhou se. New York, N.Y.: 734 Customhou se. Norfolk, Va.: 406 East Plume Street. Philadelphia, Pa. : 422 Commercial Trust Building. Pittsburgh, Pa.: Chamber of Comme rce Building. Portland, Oreg.: 215 New Post Office Building. St. Louis, Mo.: 506 Olive Street. San Francisco, Calif. : 310 Customhouse. Seattle, Wash.: 809 Federal Office Building.

PAGE 3

Approved Code No. 141. Amendment No. 1 AMENDMENT TO CODE OF FAIR COMPETITION FOR INVESTMENT BANKERS As Approved on February 1, 1934 ORD'ER APPROVING MODIFICATION OF THE CODE OF FAIR COMPETITION FOR INVESTMENT BANKERS An application having been duly made pursuant to and in full compliance with the provisions of Title I of the National Industrial Recovery Act, and particularly with Section 10 (b) thereof, approved June 16, 1933, for approval of a modification of a Code of Fair Competition for Investment Bankers, and the annexed report on said modification , containing findings with respect thereto, having been m.ade 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, H)33, and otherwise; do hereby incorporate, by reference, said annexed report and do find that said modification and the Code as constituted after being modified comply in all respect's witl). the pertinent provisions and will promote the policy and purposes of said Title of said Act, and do hereby order that said n1odification 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 modified. Approval recommended : A. D. ,vI-IrTEsmE, HUGH s. JOHNSON' Aclministrato1 for I nclust1ial Reco very. Division Aclm , inist?-at or. ,v AsHINGTON, D.C., F e bruary 1, 1934. 37604-313-180---34 (1)

PAGE 4

The PRESIDENT, The lV h:itc House. Srn : This i s a report on a modification of the Code of Fair Competition for lnYe stment Bankers, increasing the membership of the Investment Bankers Code Committee from five m . embers representing Investment Bankers to twenty-one such members. The A ssistant Deputy Administrator in his final report to me on said modification of said Code, having found as herein set forth and on the basis o:f all the proce edings in this matteT : I find that: -(a) The modification of said Code and the Code as . modified are well designed to promote the policies and purposes of Title I of the N a.tional Industrial R ecovery Act including the removal of obstructions to the jr_ee . fl.my _ of inte:r_~t_ate _ and foreign commerce which tend to diminish the amount thereof, and will provide for the general welfare b y promoting the organization of industry for the purpose of cooperative_ action among trade groups, by inducing and maintaining united action of labor and management unde r adequate governmental . sanction and supervi s ion, by eliminating unfair competitive practices, by promoting the fullest possible utilization of the present productiYe capacity of industries, by avoiding undue restriction of production ( except as may be temporarily required), by increasing t h e consumption of industrial and agricultural products through increasing purchasing po,,er, by r educing and relieving unemployment, by improving standards of labor, and by otherwi s e rehabilitating industry. (b) The Code as modified comp li es in all respects with the pertinent provisions of said Title and said Act, including without limitation Subsect i on (a) of Sectio n 3, Subse ction (a) of Sectio n 7, and Subsection (b) of Section 10 thereof. ( c) The Investment Bankers A ssociation of America was and i truly representative of the In,estment Bankers and that said A ssoc iati on imposed and i m . poses no inequitab l e restrictions on admi ssion to member hip therein and has applied for or consents to this modification. ( d) The modification and the Code as modified are not designed to and will not permit monopolies or monopolistic practi ces. ( e) The modification and the Code as modified are not de signed t o and wi ll not e liminate or oppress small enterpri ses and will not operate to discriminate against them. (f) Those engaged in other steps of the economic proce s haYe not been deprived of the right to be heard prior to approval of said modification. (g) The enlargement of member hip on the Investment Bankers Code Committee is desirable and will result in the Committee being more representative of Investment Bankers, as a whole, by making it pos ible to have representatives thereon from all parts of the country. For these reason s this modification has been approYed . Re pectfull y, FEBRUARY 1, 1934. ( 2 ) HuoH S. JoHNSON, Ad1ninist1ator .

PAGE 5

AMENDMENT TO COD'E OF FAIR COMPETITION FOR INVESTMENT BANKERS Modification of Section 1, Article III: To cooperate with the Administrator in the administration of this Code there is hereby constituted an Investment Bankers Code Com mittee. Such Committee shall consist of fifte en members appointed by the President of the Investmen~ Bankers Association of America; six members chosen by a fair 1nethod a pp roved by the Administrator to represent employers not members of the In,estment Bankers Association of America; and a representative or representatiYes without vote appointed by the Administrator. The twenty-one voting members of the said Committee shall be appointed or chosen from assenting employers. Approved Code No. 141. Amendment N o . 1. Regi try No. 1707-04. (3) 0

PAGE 8

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