Approved Code No. 138-Amendment No. 1 Registry No. 1318-1-02 

• 

NATIONAL RECOVERY ADMINISTRATION 

AMENDMENT TO 

CODE OF FAIR COMPETITION 

FOR THE 

ANTI-FRICTION BEARING 

INDUSTRY 

AS APPROVED ON JULY 31, 1934 

UN IV. OP· FL Lal. 

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WASHINGTON: 1934 

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Approved Code No. 138-A.mendment No. 1 

AMENDMENT TO CODE OF FAIR COMPETITION 

FOR THE 

ANTI-FRICTION BEARING INDUSTRY 

As Approved on July 31, 1934 

ORDER 

APPROVING AMENDMENT OF CoDE oF FAIR CoMPETITION FOR THE 

ANTI-FRICTIO.N BEARING INDUSTRY 

An application having been duly made pursuant to and in full 

compliance with the provisions of Title I of the National Industrial Recovery Act, approved June H>, 1933, for the approval of an 

amendment to a Code of Fair Competition for the Anti-Frietion 

Bearing Industry, and hearings having been duly held thereon and 

the annexed report on said amendment, 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 amendment and the Code as 

constituted after being amended comply in all respects with the pertinent provisions and will promote the policy and purposes of said 

Title of said Act, and do hereby order that the previous approval 

of said Code is hereby modified to include an approval of said Code 

in its entirety as amended, such approval and such amendment to 

take effect ten (10) days from the date hereofl unless good cause to 

the contrary is shown to the Administrator betore that time and the 

Administrator issues a subsequent order to that effect. 

HUGH s. JOHNSON' 

Admiootrator for bulustrial Recovery. 

Approval recommended: 

BARTON w. MURRAY, 

Division Administrator. 

WASHINGTON, D.C., 

July 31, 1934. 

77404°-1044-1-34 (1) ,.. 
REPORT TO THE PRESIDENT 

The PRESIDENT, 

The White House. 

Sm: This is a report on the Amendments of the Code of Fair Competition for the Anti-Friction Bearing Industry, as revised after a 

Public Hearing conducted in vV ashington, D.C., on April 5, 1934, 

in accordance with Article VIII, Section (g) of said Code as approved on November 27, 1933. Due opportunity to be heard was 

afforded all interested parties. 

The Amencbnents provide for definite terms of sale . which will 

ten l to prevent destructive price cutting. 

FINDINGS 

The Deputy Administrator in his final report to me on said Amendments to said Code having found as herein set forth and on the basis 

of all the proceedings in this matter: 

I find that: 

(a) The amendment to said Code and the Code as amended are 

well designed to 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 of labor and management under adequate govern ental sanction and supervision, by eliminating unfair competitive practices, by promoting the fullest possible utilization of the 

present productive capacity of industries, by avoiding undue restrictions of production (except as may be temporarily requi~ed), by 

increasing the consun1ption of industrial and agricultural products 

through increasing purchasing power, by reducing and relieving 

unemployment, by improving standards of labor, and by otherwise 

rehabilitating industry. 

(b) The Code as amended complies in all respects with the pertinent provisions of said Title of said Act, including without limitation 

Subsection (a) of Section 3, Subsection (a) of Section 7, and Subsection (b) of Section 10 thereof. 

(c) The amendment and the Code as amended are not designed 

to and will not permit monopolies or monopolistic practices. 

(d) The amendment and the Code as amended are not designed 

to and will not eliminate or oppress small enterprises and will not 

operate to discriminate against them. 

(e) Those engaged in other steps of the economic process have 

not been deprived of the right to be heard prior to approval of said 

amendment. 

For these reasons, these amendments have been approved by me, 

subject however, to a ten day waiting period as provided in t he 

Order of Approval. 

Respectfully, 

J ULY 31, 1934. H UGH s. JOHNSON' - A dministrator. 

(2) 
. 

AMENDMENT TO CODE OF FAIR COMPETITION FOR THE 

ANTI-FRICTION BEARING INDUSTRY 

Pursuant to Article VIII of the Code of Fair Competition for the 

Anti-Friction Bearing Industry, duly approved by the President, on 

November 27, 1933, and further to effectuate the policies of Title I 

of the National Industrial Recovery Act, the following amendments 

are established as a part of sa.id Code of Fair Competition and shall 

be binding upon every member of the Anti-Friction Bearing 

Industry. 

AMENDMENTS 

Amend Article VII by relettering present Paragraph (i) so that 

it becomes Paragraph (j). 

Amend Article VII by inserting a new Paragraph (i) therein as 

follows: 

"(i) Failure to adhere to the following terms of sale: For all 

sales, terms shall be not to exceed net cash 30 days or 1% discount 

for cash payment as follows: On bills dated 1st to the 15th inclusive 

if paid on or before the 25th of the month; on bills dated the 16th to 

and including the last day of the month, if paid on or before the 

10th of the following month; excepting that on sales made to or 

through distributors or jobbers or in competition with distributors, 

jobbers or other agencies, not sub}ect to this Code, the terms may 

be not to exceed 2% lOth proximo. ' 

Approved Code No. 138--Amendment No. 1. 

Registry No. 1318-1-02. 

(3) 

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