Approved Code No. 3-Amendment No.3 Registry No. 286-04 

NATIONAL RECOVERY ADMINISTRATION 

AMENDMENT TO 

CODE OF FAIR COMPETITION 

FOR THE 

WOOL TEXTILE INDUSTRY 

AS APPROVED ON OCTOBER 27, 1934 

VIE DO OUR PART 

UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON : 1934 

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Approved Code No. 3-Amendment No. 3 

AMENDMENT TO CODE OF FAIR COMPETITION 

FOR THE 

WOOL TEXTILE INDUSTRY 

As Approved on October 27, 1934 

ORDER 

APPROVING AMENDMENT OF CoDE OF F Am CoMPETITION FOR THE WooL 

TEXTILE 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 Wool Textile Industry, 

and a notice of opportunity having been issued 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, the National Industrial Recovery Board pursuant to authority vested in it by Executive Orders of the President, including 

Executive Order 6859, dated September 27, 1934, and otherwise, do 

hereby incorporate by reference, said annexed report and does 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 

does hereby order that said amendment be and it is hereby approved, 

and that the previous approval of said Code is hereby amended to 

include an approval of said Code in its entirety as amended, such 

approval and such amendment to take effect 15 days from the date 

hereof, unless good cause to the contrary is shown to the National 

Industrial Recovery Board before that time and the National Industrial Recovery Board issues a subsequent order to that effect. 

NATIONAL INDUSTRIAL REcOVERY BoARD, 

By G. A. LYNCH, Administrative Officer. 

Approval recommended: 

PRENTiss L. CooNLEY, 

Acting Division A dministrator. 

wASHINGTON, D. c., 

October 27, 1934. 

94044"----1244-109----34 (1) 
REPORT TO THE PRESIDENT 

The PRESIDENT, 

The White House. 

SrR: The attached amendment to the Code of Fair Competition 

for the vVool Textile Industry ha been duly pre ented by the Code 

Authority. 

Experience ha shown the Industry that the restriction imposed 

by the Code on the practice of 'selling at value' serves no useful 

purpose, and has prevented members of the Industry from booking 

busine s in advance of the opening of the ensuing season. 

FINDING 

The Deputy Administrator in his final report to us on said amendment to said Code having found as hereinafter set forth on the basis 

of all the proceedings in this matter ; 

We find that: 

(a) The amendment to ... aid 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 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 eliminating unfair competitive practi ces ~ by promoting the fullest possible utilization of the present productive capacity of industries, by avoiding undue restriction of production (except as may be temporarily required), by increasing the 

consumption of industrial and agricultural products through increasing purchasing power, by reducing and relieving unemployment, by 

improving the 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 rea ons this amendment ha been approved. 

For the National Industrial Recovery Board: 

G. A. LYNCH, 

OcTOBER 27, 1934. 

Administrative Office'l'. 

(2) 
AMENDMENT TO CODE OF FAIR COMPETITION FOR 

THE WOOL TEXTILE INDUSTRY 

Amend Article XIII, Section 2, by deleting the words " or selling, 

' at value ' " so that said Article XIII, Section 2, shall read as 

follows: 

" SECTION 2. Granting (excepting in connection with Government 

contracts) options or reservations or guaranteeing prices against 

either advances or declines." 

Approved Code No. 3-Amendment No. 3. 

Registry No. 286-04. 

(3) 

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