Approved Code No. 423-Amendment No. 1 Registry No. 1110-02 

NATIONAL RECOVERY ADlVIINISTRATION 

AMENDI\'IENT TO 

CODE OF FAIR COMPETITION 

FOR THE 

DROP FORGING II\JDUSTRY 

AS APPROVED ON AUGUST 1, 1934 

WE DO OUR PAR1' 

UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON: 1934 

1 r 

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Approved Code No. 423-Amendment No.1 

Al\'IENDMENT TO CODE OF FAIR COMPETITION 

FOR THE 

DROP FORGING INDUSTRY 

As Approved on August 1, 1934 

ORDE:& 

APPROVING A::r.rEND:M:ENT OF CoDE OF FAIR CoMPETITION FOR THE DRoP 

FoRGING 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 16, 1933, for approval of an amendment to a Code of Fair Competition for the Drop Forging Industry, 

and opportunity to be heard having been afforded all members of the 

Industry, and no objections having been filed, and the annexed repor~ 

on said amendment, containing findings with respect thereto, having 

been made and directed to the President : 

NO"\V, THEREFORE, on behalf of the President of the United 

States, I, I-I ugh 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 said amendment 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 amended. 

Approval recommended: 

HUGH s. JOHNSON' 

Administrator for I ndustriol f!ecovery. 

BARTON "\V. MuRRAY, 

Division Ad1ninistrator. 

"\V ASHINGTON, D.C., 

August 1, 1934. 

77610°----1044-7----34 (1) 
REPORT TO THE PRESIDENT 

The PRESIDENT, 

The White H ou.se. 

Srn: This is a report on the amendment to the Code of Fair Competition for the Drop Forging Industry. Notice of opportunity to 

be heard was sent to all members of the Industry on July 2, 1934, 

and no objections were filed with the Administration. The amendment, which is attached, was presented by the Code Authority. 

The Code of Fair Competition for the Drop Forging Industry 

provides in Article IX, Section 2 that 

" This Code, except as to provisions required by the Act, may be 

modified or amended from time to time, such modifications or amendments to be based upon application by the Code Authority to the 

Administrator and such notice and hearing as he shall specify, and 

to become effective on approval of the Administrator." 

This amendment provides that Section 4 of Article VI be deleted and that certain provisions be inserted to facilitate the collection of assessments from each member of the Industry. 

FINDINGS 

The Assistant Deputy Administrator in his final report to me on 

sai<.l amen lment to aiel 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 among trade group , by inducing and 

maintaining united action of labor and management under adequate 

governmental sanction and supervision, by eliminating unfair competitive practices, by promoting the fullest possible utilization of 

the present productive capacity of industries, by avoiding undue 

restriction of production (except as may be temporarili required), 

by increasing the consumption of industrial and agricu 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 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 Code empowers the Code Authority to present the aforesaid amendment on behalf of the Industry as a whole. 

(2) 
3 

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

to and will not permit monopolies or monopolistic practices. 

(e) 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. 

(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 

amendment. 

For these reasons, therefore, I have approved this amendment. 

Respectfully, 

AUGUST 1, 1934. 

HUGH s. JOHNSON' 

Administrator. 
AMENDMENT TO CODE OF FAIR COMPETITION FOR 

THE DROP FORGING INDUSTRY 

Amend said Code by striking out Article VI, Section 4 and 

inserting in place of said Section the following Amendment: 

1. It being found necessary in order to support the administration 

of this code and to maintai..11 the standards of fair competition established hereunder and to effectuate the policy of the Act, the Code 

Authority is authorized: 

(a) To incur such reasonable obligations as are necessary and 

proper for the foregoing purposes, and to meet such obligations out 

of funds which may be raised as hereinafter provided and which 

shall be held in trust for the purposes of the Code; 

(b) To submit to the Administrator for his approval, subject to 

such notice and opportunity to be heard as he may deem necessary 

(1) an itemized budget of its estimated expenses for the foregoing 

purposes, and (2) an equitable basis upon which the funds necessary 

to support such budget shall be contributed by members of the 

industry ; 

(c) After such budget and basis of contribution have been approved by the Administrator, to determine and obtain equitable contribution as above set forth by all members of the Industry, and to 

that end, if necessary, to institute legal proceedings therefor in its 

own name. 

2. Each member of the industry shall pay his or its equitable contribution to the expenses of the maintenance of the Code Authority, 

determined as hereinabove provided, and subject to rules and regulations pertaining thereto issued by the Administrator. Only members of the industry complying with the code and contributing 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 Authority or to 

make use of any emblem or insignia of the National Recovery 

Administration. 

3. The Code Authority shall neither incur nor pay any obligation 

in excess of the amount thereof as estimated in its approved budget, 

except upon approval of the Administrator; and no subsequent 

budget shall contain any deficiency item for expenditures in excess 

of prior budget estimates except those which th~ Administrator shall 

have so approved. 

Approved Code No. 423-Amendment No.1. 

Registry No. 1110-02. 

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UNIVERSITY OF FLORIDA 

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