NATIONAL RECOVERY ADMINISTRATION 

CODE OF FAIR COMPETITION 

FOR THE 

CORSET STEEL INDUSTRY 

AS SUBMITTED ON AUGUST 30, 1933 

REGISTRY No. 1118-10 

The Code for the Corset Steel Industry 

in its present form merely reflects the proposal of the above-mentioned 

industry, and none of the provisions contained therein are 

to be regarded as having received the approval of 

the National Recovery Administration 

as applying to this industry 

WE DO OUR PART 

UNITED STATES 

GOVERNMENT PRINTING OFFICE 

W ASIDNGTON : 1933 

For sale by the Superintendent of Documents, Washington, D.C. - - - - - • - - Price 5 cents 

v 

CODE OF FAIR COMPETITION FOR THE CORSET STEEL 

INDUSTRY 

To ffectuate the poli y of Titl I of the National Industrial 

Recov r A t th f ll wino- provi ion ar e tablish l a a code 

·of fair · mpetition f r th cor t eel inclu tr 

ARTICLE I-DEFINITI N 

E TI N 1. The term or et Steel Indu try" as used herein is 

d fin cl tom an th manufactur r of wire for 1 e a tays in corsets 

an l other article of apparel and the manufacture of acce ories such 

a fastener and cla p use l in such apparel. 

E . 2. The tern1 "Member of the Industry" means and includes 

any per on, firm, a ociation, or corporation eno·aged in the manufacture of wires for u e as stays in corsets and other articles of 

appar l and the manufacture of accessories such as fasteners and 

cla ps u eel in such apparel. 

E . 3. The term 'employees" means and includes all persons 

emplo eel in the industry. 

ARTICLE II-MEMBER HIP 

SEc. 4. It is of the essence of the code that all members of the 

industry who shall comply with the provisions of the code shall be 

entitled to participate in its benefits upon the terms and conditions 

set forth in the code. 

SEc. 5. Any member of the industry is eligible for membership in 

the code. 

SEc. 6. Any member of the industry desiring to become a member 

<>f the code may do so by signing and delivering to the seer tary a 

letter substantially in the form set forth in Schedule B hereto 

annexed. 

E . 7. To the ext nt required or permitted by or un r the provijon of Title I of theN ational Indu trial Recov ry Act, the provi ions 

Qf the code hall appl to and be binding up n very m n1ber of the 

indu try, wheth r or not such member shall be a member of the code. 

To th xt nt that it hall be nece ary or proper in ord r to effectuat the purpo e of th ode tl t rm' m mb r of th ode" wherever 

u in th cole hall b d m d to n1 an a m m r of the indu try, 

b n m mber of th in u. try who hall not al o b a m mber of the 

c d hall b entitl to ot at an m eting of memb r f the cod , Qr to an oth r ri 0 ht p w r or pri il g provi in the code for 

the m m b r th r of. 

E . . The rul an r gulation in re p t f n tino- f memb r f th ode ar t f rth in h clule h reto annexed. 

8675-33 (1) 
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ARTICLE III-\V AGE AND HouR OF LABOR 

SEc. 9. As r equire 1 by ec. 7 (a) of Title I of the National Indu -

trial Recovery Act the following provision are conditions of thi 

Code : " (1) That employees shall have the right to organize and 

bargain collectively through r epr esentative of their own choosing, 

and shall be free from the inter £ renee, re traint, or coercion of 

employers of labor, or their agents, in the de ignation of such representatives or in self-organization or in other concerted activities for 

the purpose of colle tive bargaining or other mutual aid or protection; (2) that no employee and no one seeking employment shall be 

r equired as a condition of employment to join any company union 

or to r efrain from joining, organizing, or assisting a labor organization of his own choosing ; and (3) that employers shall comply 

with the maximum hours of labor, minimum rates of pay , and other 

conditions of employment, approved or prescribed by the President.'' . 

SEc. 10. On and after the effective date of this code, and until 

changed as her einafter provided, the minimum wage that hall be 

paid to employees shall be as follows: 

Boys and girls from 16 to 18 ... ---- ---------------------------------------------- n and wornen.--------------------- -------- ---------------------------------- 1-earners . . . _____________ ____ _______ ___ _________ __ __ ____ _____ __ _____ _________ ___ _ 

(The period of apprenti ceshi p for lea rners not to exceed 6 weeks.) 

Per hour 

Cents 

3272 

35 

25 

Per week 

40 hours 

$13.0(} 

14. 00 

10. O(} 

The foregoing schedule of wages shall apply to all able-bodied 

p ersons now employed in the industry , and to all persons who may 

hereafter enter the employ of the industry. There are, however, at 

present in the employ of some or all of the members persons incapable by reason of age or infirmity of doing a full day's work,. 

who are being employed at light labor, suited to their condition, 

at rates below the above. It is believed that provision should be 

made for the continuance of the employment of such persons who 

would othenvi e nece sarily be replaced. It is therefore proposed 

that such persons may be continued in their employment, at rates 

below those herein pre cribed, provided that the number of persons 

so continued in their employment shall not exceed ten ( 10% ) percent of the total number of employees, and that this provision shall 

in no event apply to new employees. 

SEc. 11. The hours of labor for employees in the industry shall be 

as follows: 

Accounting, clerical, office, service, and sales employees (except 

outside ale men) ; factory and mechanical workers; 40 hour per 

week. No worker to be employed more than eight hours per day. 

Productive machinery not to be operated more than two shifts of 

forty hours per week. . 

· SEc. 12. No member of the industry shall employ any person under 

sixteen years of age. 
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ART! LE I\ -PR D Tl N ND .\LE 

E • 1 . Th or t t l indu tr} ha for a l no· peri d b n demoraliz b. c m1 titiv pric uttino· which ha dri n price below 

th r a nabl t of produ tion. uch practic . haY not only 

mall i im1 ibl for mplo} r to op rate at a r a. nable profit 

but ha'? lriY n wa ·e lown an l cau eel v rprodu ti n and un mpl ym nt. 'I h int re both of employ r an l mrlo} r quire 

that m rchandi e b old at price that will realize to tl e producer 

th fair o t of pro lucti n plu a rea onable profit. It i therefore 

cl lare l to b an unfair pra tice for any member of th indu try to 

fail to maintain uch I rice a will return the fair co t f I ro·duction 

I lu a r a onable profit. 

EC. l.f. (A) Ea h m mber of the code hall, within ten days after 

the eff . ctive late of the code, tile with the chairman a list howing 

the prices of all hi proclu ts and from time to time after the expiration of uch ten day uch member shall file new, amended, or uppl mental lists of price covering any change in uch prices. Each 

such li t shall s ate the elate upon which it hall become effective, 

which date hall b not le than ten day after the date of filing 

such li t with the chairn1an. The chairman shall immediately distribute copies of uch lists to all member of the code. 

(B) The chairman hall have power, on his own initiative or on 

complaint of any m mber of the code to inve tigate the prices set 

forth in any list filed a hereinabove provided and to uspencl such 

price li t in whole or in part pending such inve tigation. For the 

purpo e of such inve tigation the chairman may require the member 

filing uch list to furni h nch information concerning the cost of 

manufacture and sale a the chairman shall deem nece ary and 

proper for uch purpose. 

( ) If the chairman after inve tigation shall consi ler that any 

I ric ontained in uch li t are exce i' e he may r evise uch prices 

d wn\\ard. If the hairman after investiO'ation hall consider that 

any pric contain l in uch li t may re ult in unfair competition 

in th in lu try by rea on of inadequacy, havinO' reo·arcl to the fair 

c t f production an l al , plu a rea. onable profit he may require 

the m mber of th ·o l filing uch li ·t to fil a complete or partial 

ub titute li t as the a. 1nay be showing fair pric , uch ub ti- tute li t to be filed within t n day after writt n r qu t b the 

ch irn an. If th m mber hall fail to file uch ub. titut li t or 

hall fil a ub titute li. t containinO' pri e which the hair11an hall 

on i 1 r to be unfair th hajrman hall, a t the 1 ri n i lered 

by hin1 t be unfair u. · nd uch ub titut li t o·ivino- n tice of 

such action to th memb r filing uch li ·t and hall ap oint a 

committee of three m mb r of the od to l t rmine the fair price 

whi h . houll b charge l by th m mb r filin u h li havinor gar l to th co t of manufa tur and ale, too· th r with a r a nabl pr fi . For the purp . e of uch l termination th mmitt e 

hall hav pow r t requir the m mb r filino· uch ub ·titute li t 

to furni h u h inf nnati n con rning the o t of manufacture 

.an al f a y pr clu t. th r in li.t l a th n n itt h 11 l m 

nee ary and prop r. Th ommitt e hall r 1 ort it fin lin to 

th chairman t o- th r wi hit r commendation a to th air prices 

which houl b charo- l by the m mb r filing uch ub titute list. 
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The chairman may revi e downward any price so determined by 

the committee. The chairman shall give notice o:f such findings and 

recommendations o:f the committee, as approved or revised by him, 

to the member filing such substitute list, and simultaneously to 

the other members o:f the code, and the list o:f recommended prices, 

as detennined by the committee and approved or revised by the 

chairman, shall take the place o:f the sub titute list theretofore filed 

by such member, or o:f the part thereof theretofore suspended by 

the chairman, such recommended prices, as approved or revised by 

the chairman, to take effect on a date fixed by the chairman. 

(D) No n1ember o:f the code hall sell any product at a price or on 

tern1s and conditions more :favorable to the purchaser than the list 

price :for such product contained in the late t effective list filed by 

such 1nen1ber with the chairman, as provided in Subd. (A) o:f this 

section, and which list ha not been suspende l as provided in Subds. 

(B) and (C) o:f this section. A list o:f prices which ha be. n uspended in part shall be deemed to be effective, as o:f the date therein 

named, as to the part not suspended. A list o:f prices recommended 

by a committee and approved or revi eel by the chairman pur uant 

to the provisions o:f Subd. (C) o:f this section, shall, as to the prices 

therein contained, have the same :force and effect as if such li t had 

been filed by the member in respect to whose products such prices 

have been so determined, and :for the purposes o:f this Subd. (D) 

shall be deemed to have been filed by such member. 

SEc. 15. To effectuate the purpo e o:f the National Industrial Recovery Act in respect o:f maintaining a rea onable balance between 

production and consumption, and elimination o:f overproduction as 

a :factor in unemployment, price cutting, and other de tru tive competitive practices, and to provide a period o:f stabilization in the 

industry, no mmnber o:f the industry shall increase his production 

cmnputed in terms o:f sales price , beyond the same approximate 

portion o:f the total production o:f the indu -try, computed in t!?rms 

o:f sales prices, as was substantially borne by his average production 

during the calendar years 1931 and 1932 to the average total production o:f the industry during said years; provided, however, that 

the initial production quotas hereby established shall expire on the 

31st day o:f December 1933, unless at or prior or subsequent to said 

date the members o:f the code shall, by unanimous affirmative vote 

o:f all o:f the members o:f the code, agree to extend such quotas or to 

establish revised quotas; in which case such quotas or revised quotas, 

as so agTeed to, shall be effective and binding upon all members of 

the code. It is hereby declared to be an unfair practice :for any 

member o:f the code to depart :from the initial quotas hereinabove 

established, or :from any extended or revised quotas adopted as hereinabove provided. 

SEc. 16. All sales shall be subject to the :following terms, and any 

violation o:f such terms shall be deemed an unfair practice, namely : 

(1) Freight: Freight is prepaid to Aurora, Ill. For shipments 

beyond Aurora, the buyer is allowed the :freight to Aurora, Ill. 

(2) Terms o:f sale are three percent (3%) lOth e.o.m. or two 

(2% ) percent e.o.m., ten (10) days, sixty (60) days extra. No 

further discount :for cash. Interest at the legal rate is payable on 

delinquent accounts. 
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(3) Increase of price: If the cost or expen of the ll r in manufa urino- th e o-oo l is increa ed because of any fed ral state, or 

munici1 allaw , or linanc or regulation , or becau e of any r o-ulation a lopted by any tra l a ociation r group b which th ell r 

i b un voluntarily or involuntarily, imposino- any tax, or gov rnincr workino- hour r compensation of labor, than the price of the 

go c1 aft r the ffective dat of any uch law ordinanc or reo·ulation hall be increa d in an amount sufficient to cover uch additional 

co t to the seller, the increa e to be payable at the aJne time a the 

ori ·inal price. Deliverie may be reduced a to amount and/ or 

ext n led as to tin1e in proportion to any reduction of production 

re ultino- from uch law regulation or ordinance . (4) Th seller hall not be responsible for delay or non-delivery 

du to strike , labor troubles, or any other events beyond the eller s 

control, affecting production or transportation facilities. In the 

event that delivery of all the goods cannot be made by rea on of any 

of the foregoing causes the seller shall agree to make partial delivery, 

proportionate to it production and total of orders on hand. 

( ) Alteration of Terms : The seller reserves the right to alter the 

term of ere lit during execution of any contract, granting to the 

buyer any equivalent in discount. 

ARTICLE V-UNF.AIR PRACTICE 

EC. 17. For all purposes of the code, the following de cribed acts 

shall constitute unfair practices: 

(1) Granting any rebate from the contract price of goods sold 

or any discount for quantity purchases (except as required by existing contract, which shall not be extended or renewed). 

(2) Canceling in whole or in part or permitting the cancellation 

in whole or in part of any contract of sale of any product except 

for a fair con ideration. (3) Di semination, publishing, or circulation of any false or mi - leading information relative to any product or price for any product 

of any member of the code, or the credit standin~ or ability of any 

member thereof to perform any work or manutacture or produce 

any product, or to the conditions of employment among the emplo ees of any member thereof. 

(4) Inducing or attempting to induce by any means any party 

to a contract with a member of the code to violate u h contract. (5) ~1aking or giving to any purchaser of any product any guarant e or protection in any form again t decline in the mark t price 

of uch pr duct. ( ) Stating in the invoire of any product a. the dat thereof. a 

date lat r than th dat of the shipin nt of n ·h r rodu t or inclu .lino- in any invoice any product shippe on a date earli r than the 

dat of uch invoice. 

7) Effecting adjustments of claims with purcha rs in uch manner a t grant secret allowances secret reba , or ecr t cone ion . ( ) Any violation f any oth r pro i ion of the ocl whe h r r 

not therein expr . ed t u h r failing r refu in o- to furni h to 

th hairman or to any mmitt e appointed und r thi c 1 , any 

informati n or r p rt whi h the hairman r the ommitt i lirect d or authorize 1 t obtain, r u ing or mployin any pra tice 
6 

not herein de cribed a an unfair practice whi h the hairman of the 

indu try hall have declared to be a practi e that would tend to 

defeat the policy of Title I of theN ational Industrial Recovery Act 

and therefore, an unfair practice, and of which letermination or 

declaration the chairman shall have given notice to the member o:f 

the code. 

ARTICLE VI- AmvnN ISTRATION OF THE CoDE 

SEc. 1 . The administration of this co le shall be under the direction of the chairn1.an of the industry. It hall be the duty o:f the 

hairman to u e his best efforts to effectuate ob ervance by the 

industry of the declared policy of th National In lustrial Recovery 

Act, an l to keep the President informed as to such observance. 

SE . 19. The chairman shall have all the powers an l dutie conferre l upon him by this code, and generally all u h other power 

and duties, not expre ly herein otherwise conferred, as may be 

necessary or proper to enable him fully to administer the co le and 

effectuate its purpose. Subject to limitation by the member of the 

code as to the total annual expenditure for ad mini trati ve purposes, 

l1e shall have power from time to time to appoint and r emove and to 

£.x the compensation for . uch accountant , attorney , experts and 

other employees as he may deem necessary or proper for the purpose 

of a lmini tering the code. 

SEc. 20. The chairman shall have power from time to time to require each member of the cole to furnish to him, or to uch agent a 

he may designate, information and written reports concerning the 

production, co ts, order , hipment , ale prices, and unfilled orders 

of each member, and the hours of labor, rate of pay, and other conditions of employment, and uch other information a he 1nay deem 

necessary or proper in order to effectuate the purpo e of the code 

and the policy of Title I of the National Indu trial RecoYery Act. 

H e may require that any such information be :furnished periodically 

and be worn to or otherwi e certified or authenticated. 

SEc. 21. The chairman hall, :from time to time, present to the 

Administrator recommendations based on conditions as they levelop 

in the indu trty, and in particular along the following line : 

(1) Rec0111menda,tions as to the require1nent by the Admini trator o:f such further reports :from persons engaged in the industry of 

stati tical information and keeping of unifonn accounts a may be 

required to ecure the prop r ob ervance of this co le and to promote 

the proper balancing of production and con nmption and the tabilization of the indu try and en1.ployment. 

(2) Recommendations for the setting up of a ervice bureau for 

accounting, credit, and other purpo es a may be necessary or desirable to promote the requirement of. this cole. 

( 3) Recommendation for regi tration an l licenses for per ·on 

engaged in the industry, and for the in tallation of pro lu tive 

machinery, except the replacement of exi ting machinery. 

( 4) Recommendations for change in or exemptions from the provi ions of thi code a to working hour of machinery, which will 

tend to pre erYe the balance of productive acti,ity with con umption 

requirement , o that the interests of the indu try and the public may 

be I roperly en eel. 
7 

C) R mm nda i n for th makino· f r quir 111 n by th A 1ministrat r a t by I r on n ag d in the inlu try 

a · t meth l and ondi ion of trading the namin<Y an l r 1 ort of 

pri ~ "hi h ma b appr priate to av id di criminati n: to I romote 

th tabilizati n of th in lu tr r and to pr nt ani liminate unfair 

an l 1 . tru tiYe comp titiv I rice and prac ice . ( 6 R mmendations for recrulating the di po al of di tre merhanclL in a wa. to cure the protection of the owners and to 

pr m te ounl an l table conditions in the indu try. 

T) R ommen iation as to the making available to the uppliers 

of credit to tho engaged in the indu try of information regarding 

the term f, and actual functioning of any or all of the provisions 

of thi c le, the conditions of the industry, and regardincr the operation of any and all of the members of the indu try covered by 

thi code to the end that during the period of emer;ency available 

r dit may be adapted to the ll(~eds of such indu try on idere i a a 

whole an l to the needs of the small as well as the lar<Ye units. 

uch recommendations of the chairman shall be submitted to the 

111ember of the code at a meetincr the notice of which shall state the 

purpo e of the meeting, namel , to consider recomn1endations to be 

nbmitted to the Admini trator. Such recommendations proposed 

by the chairman, if approved by the members a.._ the said meeting, 

hall be .·ubmitted by the chairman to the Admini trator and when 

appro-red b the Admini trator, shall have the same force and effect 

a an other provision of this code. 

EC. 22. In addition to such other report as the chairman may 

from time to time require, each member shall furni h duly certified 

report in ubstance as follows, and in such form a may be precrib d b the chairman : 

( 1) A report to be filed within ten day after the effective date 

f thi co le, etting forth the unfilled ord r and partl. r filled order 

which each member ha on hand, '"ith the name and addre of ea h 

cu.·tom r, the date of the order, the cu tomer' or l r number, the 

o c1 order d and quantitie thereof and the elling price and other 

t rm of .·ale. 

2) \Y kly r p rt , howing pro luction in term f th commonly 

n. · d uniL·. tock on hand, both ol and un ld, hipments ao·ain t 

or 1 r. pr ,-ion ly r port l and n " orcl r , o·ivino· the l tail of 

11 w or(l r . a pr Yi led in ubdi vi. ion ( 1) f thi. tion. 

(: ) A '' kly r port . howino- th a tual hour work i by the 

Yari ~ oc npati nal oT up f m}loyee an l th minimum '" ekl 

rate f wag . · a to each n h <Yroup. 

'E ·. ~: . Failur f an.· m mb r f th cod promptly t furni h 

r 1 rt an<l in£ rmation r quir d 1 y th d r by th hail·mc n 

. nl . tantially in th form J r crib l hall con titut a "·iolation f 

th ·od . 

RTI LE VII- INYE TI •. \.Tro .. • A ... o RBITn. Tro ... • 

~. Ef'. _-!. 
8 

of books and documents relevant to such inquiry, including sales 

and order book , customers' ledgers, contracts of sale, price quotations, and records relating to production, costs of production and 

sales. Any and all information furnished to the chairman by any 

member of the code shall be subject to checking for the purpose of 

verification by an examination of the books, accounts, and records of 

such member by any accountant or other person designated by the 

chairman. The cost of each such examination shall be treated as an 

expense of administering the code: Provided, however, that if upon 

such examination any such information s~all, in the opinion of the 

chairman be shown to have been incorrect in any material respect, 

such co t shall be paid by the member who furnisl1ed such 

information. 

SEc. 25. In addition to any and all other rem.edie provided in 

the National Industrial Recovery Act or in this code for the enforcem.ent thereof, whenever any member shall make complaint in 

writing to the chairman that he has been damaged through any act 

or conduct of another member, in violation of the provisions of this 

code, the chairman hall give notice in writing of uch complaint 

to the member complained against and shall proceed to determine 

such complaint. For the purpose of such determination. the chairman shall act as an arbitrator, and shall have the jurisdiction and 

power conferred upon arbitrators by the arbitration law of the 

State of New York. If the chairman finds that the complainant has 

been damaged, he may award damages, and judgment upon hi determination may be entered, as provided for in the arbitration law 

and the civil practice act of the State of New York. 

· SEc. 26. The chairman shall not be deemed to be disqualified in 

relation to any matter affecting the administration of this code, or 

in relation to any matter, dispute, or controversy which is the subject of arbitration by the chairman under the provi ions of thi, 

code, by reason of any intere t as stockholder, director, officer, agent, 

or employee of any member of the code. The chairman may, in his 

discretion, designate in writing an alternate chairman to serve in 

relation to any matter assigned to him by the chairman, and may, 

from time to time, in his discretion revoke such designation and 

designate another alternate. 

ARTICLE VIII- PENALTIES AND DAMAGES 

SEc. 27. Recognizing that the violation by any member of this 

code of any of the provisions of Article IV of this code will disrupt 

the normal course of fair com petition in the industry and cause 

serious damage to other members of the code and that it will b 

impossible in many cases fairly to a sess the amount of such damage 

to any m mber of the code, it is hereby agreed by and among all 

members of the code that in addition to any and all remedies provided in the National Industrial Recovery Act or in this code for 

the enforcement thereof, each member of the code who shall violate 

any provi ion of this code hall pay to the chairman, in tru t, as 

and for liquidated damages, a sum not exceeding the total of the 

net profit upon such sale or sales in violation of the provisions of 

this code, plus an additional ten percent of the sales price or total 

sales prices. 
9 

E . 2 . E.-cept in a s for whi h liquidated damage are fixed 

in th o l anl in a whi h hall give ri e to claims or ~ tion 

in fn Y r f ne or more m n b r f he o le for damages suffered 

b u h mem r or m mb r he chairman hall have ow r from 

t:lm t tim to e tabli h the mnount of liquidated lama e 1 a able 

b an~ m mb r of th c l upon th con mi ion b:5 uch memb r 

of an~ act on titutin · an unfair practice uncl r th ole an 1 a li t 

of tl e am unt o fixed hall fr m time to ime b mail l to the 

m mber . Upon th commi i n b) an m mber of th cod of any 

a t con titutino· nn unfair pra ic , u h m mb r hall becom liable 

to pay to h chairn an in tru t, liquidated dama e in the amount 

a the time e tabli heel by the chairman for uch unfair practice. 

E . 29. All amount o paid to or ollected by the chairman under 

thi article hall be held and lispo e l of by him, or by u h agent 

a he hall designate a part of the funds collected under thi code, 

and each member of the co le not guilty of the unfair practice in 

re p ct of which any uch amount shall haYe been paid or collecte l 

shall be credited with his pro-rata share of such amount on account 

of any and all a sments (other than damage for violation of any 

pro vi ion of thi code) due or to become due from uch men1ber under 

h c de. All rights of any per on who shall at any time be chairman in re pect of any amounts which hall be payable to him under 

this articl , or under any other provision of thi co le shall pa.., to and become ve ted in his succes or in office upon the appointment 

of uch succe or. 

SE . 30. Anything in the co le to the contrary notwith tanding, 

the chairman may in his discretion, change the n1 thod of allocation 

of the am unts paid to or collected by him as penaltie and damage , and distribute such amounts, or any part thereof, in such manner 

a he may determine to be in the interest of justice and equity in any 

partirular ca e or ca e having regar l to the purposes of thi code; 

an l the chairman may al o, in his eli cretion waiYe an liability 

for liquidated damag .., impo eel by or pursuant to any provi ion of 

the code for any vj alation of any provision thereof if in his di cretion he hall decide that such violation was innocently made and 

that the c llection of such damages will not to any material extent 

ten to ffectuat the policy of Title I of the National Inclu trial 

Recovery ct. 

EC. 31. Each memb r of the code by becoming such member agre . with every other m mber thereof that the code constitutes a valid 

and binding ontract by and an1ong all member of the code and 

that in addi ion to all p nalties and liabilities imposed by statuteJ 

any viola i n of any provi ion of the code by any rn mb r thereat 

hall con titute a breach of uch contract an 1 shall ubject the memb r o·uilty of ·uch violation to liabilit r for liquiclat d damacr puruant to th provi ion of the cod . Each n1e1nber of the code by 

b c min u h m mb r th r by a icrn tran fers an cleliv rs to the 

chairman in tru t all rio·ht and au es of a tion what oev r which 

h, ll th r af r a rue to uch m mber un ler th code for u h 

liquidated damacr by rea on of any viola i n of the code by any 

otl r m mb r th r of an thereby d i nate and appoints the 

chairman a uch indi idual the tru an lawful attorney in fact of 

uch m mb r to d mand sue for, collect, and receipt for any and all 

amounts which shall be owing to such member in re 1 ct of any uch 
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rio·ht or cau e of action, and to compromise, settle, ati fy, an disharo-e any uch right or cause of action, all in the name of uch 

member or in the name of the chairman, in lividually, a he · hall 

el t. 

ARTICLE IX-GENERAL PROVI IONS 

SEc. 32. To l fray the expen e of admini tration of thi code a -

e ment may b made from time to time by the hairman, whi h 

a ·e ·~ ment hall be prorated among the 1nembers in proportion to 

their voting power ; pro vi le l, however, that the total as e 1nents 

in any one year hall not exceed the amount voted by the members 

a expenses of admini tration of the code in any budget adopted by 

the member. 

SE . 33. EYery memb r of the code hall, if pre cribed by the 

chairman, with the approval of a majority in number and voting 

strength of the members of the code, use a uniform and tan lard 

method of accountino·. 

SEc. 34. Nothing contained in the code hall be deemed to constitute the member of the code partners for any purpose. None of 

the members of the code shall be liable in any manner to any one for 

any act of any other member of the code or for any act of the chairman or any other officer agent, or employee appointed under the code. 

Neither the chairman nor any other officer, agent, or employee appointed under the code shall be liable to anyone for any action or 

omi ion to act under the code, except for his willful misfeasance 

or nonfeasance. Nothing contained in the code shall be deemed to 

confer upon anyone other than a nw1nber of the code any right, 

claim, or demand whatsoever again t any member of the code or 

again t any me1nber holding office under the code, or against any 

agent or employee appointed under the code. 

SEc. 35. The Pre ident may, from time to time, cancel or modify 

any order approval, license, rule, or regulation issued under Title X 

of the National Industrial Recovery Act. 

SEc. 36. Such of the provisions of this code as are not required to 

be included therein by the National Industrial Recovery Act may, 

with the approval of the President, be modified or eliminated if it 

appear that the public needs are not being erved thereb. r, an l a 

changes in circumstances or experience may indicate. They hall 

remain in effect unless and until so modified or eliminate 1, or until 

the expiration of the act. 

SEc. 37. A oon as n1.embers of the indu try who would, if then 

member of the code, have the right to cast at least seventy-five percent in number and voting strength of all the votes that might be 

ca t at a meeting of the members of the code, if all members of the 

indu try were th n members of the code and present at such meeting 

shall ign and deliver to a chairman or temporary chairman elected 

by them letter substantially in the form set forth in Schedule B 

hereto annexed, the chairman or temporary chairman so elected by 

them shall submit thi code to the President pursuant to the provision of Title I of the National Indu trial Recovery Act and, upon 

approval of the code by the President, it shall constitute a binding 

contract by and among the members of the code, and shall be and 

become effective a of the elate of such approval by the President. 
HEDULE A 

RULES. AND REGULATIONS IN RESPECT OF MEETINGS AND 

PROCEDURE 

>-:E TIOX 1. ::\IeetiO"' 

chairmnn, on n t 1 

plac f th m tino- and hall al 

r que t of any tllr e 3) memb L'- . 

of th co 'I.e shall I e h l d on call of the 

writt n notice, ·pecifyioo· th tim and 

be called by tile chairman on writt n 

E . - · Exc pt a otherwi e peci.fi all~· 1 rodded in the code, at any m etin"' 

f memb r of the ode. a maj rity, b th in number of memher and numbe!' 

of vote , hall be nece ary to the election of any officer or the determination of 

any que tion. The YOting power of each member shall be u h proportion 

of t n thou and ,·ote · u the qu ta of prolluction at the time allotted to ·nell 

merul er be.n t th agoTegate of the quota of production at the time allotted 

to all of the members of th cocle. If no producti n quota hall at the time 

be eft' tiYe and in force, then and in that eYent til Y ting power hall be 

equita blr ulloca t cl and eli triblitecl am on.; the member of the code by th·~ 

·hainnan. 

, EC. • . _ t all meetin s of m mber~ of the code, any memb r may ' te by 

pro:s:y in ~\TitinO', duly executed by such m mber and filed \Yith the chainnan . .'E . -!. T'he pre nee at any m etino·, in per on or b~· pro:s:y, of a majority 

b th in num1Jer f m mber uncl number of votes, hall con titnt a quorum. 

'Ec. -. The chairman hall be ele tecl by a majority, bo h in numb r of 

memb ~ and number of Y te , aml hall hold oflice for one ·ear, or until his 

uc <::or i elec-ted. 

'Ec. 6. All noti , demands, or reque ·t. required r penni tt d to be giYen 

to 1r mncl upon any member of the cod hall be . utli ·iently giYen if mail l, 

110 ·tao-e pr paid, a Jclres eel to uch member, at the addre s of u h member on 

file Ylith the chairman . . .'E 7. These rule. and r o-uJation · mt y be amend d, reYok d, or add c1 to 

by an affirmative ' te of two thirds (%) in numb r of memb r and numb r 

of Yot ::, at any rn etiu · call l1 up u \Yritten noti ·e of n t I than two (:..) 

lay:-;, the noti · f 'iYhich nH tinO' llall ~P cify the am ndm nt, reYo ·ation, 

r addition r po for con icl rati n at such me tino-. 

{11 ) 
SCHEDULE B 

FORM OF LETTER OF ASSENT TO THE CODE· 

To: , Chalinnan (or Temporary Chairma.n) of 

Members of the C01·set-Steel I ndu,stry. 

DEAR SIR: The undersigned desiring to become a member of the code of fair 

competition for the corset-steel industry, hereby assents to all of the provisions 

of said code, and effective as of the date on which the code shall have been 

n.pproved by the President of the United States of America, as therein provided. 

or as of the date (if ubsequent to such approval) on wrich this letter shall 

have been delivered, by the signing and delivery of this letter become a member 

of the code, and thereby agrees with every person, firm, as ociation, and corporation, who shall then be or thereafter become a member of the code, that the 

code shall constitute a valid and binding contract between the undersigned and 

all such other members. 

The address of the undersigned, until written notice of a change of such 

address shall be filed with the chairman, shall be as set forth in thi letter. 

Very truly yours, 

By ' 

President or Secretary. 

(12) 

0 

UNIVERSITY OF FLOR IDA 

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