Registry No. 1333-1-08 

NATIONAL RECOVERY ADMINISTRATION 

C·ODE OF FAIR COMPETITION 

FOR THE 

TEXTILE MACHINERY 

MANUFACTURING INDUSTRY 

AS APPROVED ON OCTOBER 3, 1933 

BY 

PRESIDENT ROOSEVELT 

WE DO OUR PART 

1. Executive Order 

2. Letter of Transmittal 

3. Code 

. -. ..... 

U.S. DEPOlffOIW 

UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON: 1933 

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

✓ 
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(ll) 
EXECUTIVE ORDER 

CODE OF FAIR COMPETITION FOR THE TEXTILE JVIACHINERY 

MANUFACTURING IND STRY 

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 my approval of a Code 

of Fair Competition for the Textile Machinery M:anufacturing 

Industry, and hearings have been held thereon and the Administrator having rendered his report containing an analysis of the said 

Code of Fair Competition together with his recommendations and 

findings with respect thereto, and the Administrator having found 

that the said Code of Fair Competition complies in all respects 

with the pertinent provisions of Title I of said Act and that the 

requirements of Clauses (1) and (2) of subsection (a) of Section 

3 of the said Act have been met: 

NOW THEREFORE, I, Franklin D. Roosevelt, President of the 

United States, pursuant to the authority vested in me by Title I of 

the National Industrial Recovery Act, approved June 16, 1933, and 

otherwise, do approve the report and recommendations and adopt 

the findings of the Administrator and do order that the said Code 

of Fair Competition be and it is hereby approved. 

THE WHITE HousE, 

Septeniber 1933. 

Approval recommended : 

HUGHS. JOHNSON, 

Ad1ninistrator. 

14256°-llS-162-38 

FRANirLIN D. ROOSEVELT. 

(ill) 
THE PRESIDENT' 

SEPTEMBER 21, 1933. 

The White House. 

MY DEAR MR. PRESIDENT: I have the honor to submit and recommend :for your approval the Code of Fair Competition for the 

Textile Machinery Manufacturing Industry. 

The following exhibits are included or attached: 

{1) Final Code Submitted 

{2) Notice of Hearing 

4) Transcript of the Records 1

3) Statement of Procedure 

5) Statistical Analysis of the Division of Economic Research 

and Planning 

( 6) Report of Deputy An analysis of the provisions o:f the Code has been made by the 

Administration. I find that the Code complies with the requirements of Clauses 1 and 2, Subsection (a) of Section 3 of the National 

Industrial Recovery Act. 

I am, my dear Mr. President, 

Very sincerely yours, 

(IV) 

HUGH s. JOHNSON, 

Administrator. 
CODE OF FAIR COl\'lPETITION FOR THE TEXTILE 

MACHINERY MANUFACTURING INDUSTRY 

ARTICLE I-DEFINITIONS 

SECTION 1. The terms "the Textile Machinery Manufacturing Industry" and" the Industry", as used herein, are defined to mean the 

manufacture for sale of complete machines and parts thereof and 

accessories therefor used in textile establishments for the actual 

manufacture of yarn and/ or woven fabrics or for finishing or dyeing, 

whether as a final process or as a part of a larger and further process. 

SEc. 2. The term " employee ", as used herein, includes any per~on 

engaged in any phase of the Industry, in any capacity, in the nature 

of employee irrespective of the method of his compensation. 

SEc. 3. The term "employer", as used herein, includes anyone for 

whose benefit such an employee is so engaged. 

SEc. 4. The term "members", as used herein, is defined to include 

natural persons, partnerships, associations, or corporations. 

Soo. 5. The term. "President", as used herein is defined to mean 

the President of the United States of America. 

SEc. 6. The term " Code ", as used herein, is defined to mean the 

within Code as approved by the President or as amended, revised, 

or altered pursuant to the provisions hereof and of the National 

Industrial Recovery Act. 

SEc. 7. The term" the National Industrial Recovery Act", as used 

herein, is defined to mean the Act approved by the President on 

June 16, 1933, and the term "Administrator", as used herein, is defined to mean the administrator duly appointed and acting under 

said Act. 

SEc. 8. The term "effective date", as used herein, is defined to 

mean the second Monday after the approval of this Code by the 

President. 

SEc. 9. The term "Association", as used herein, means National 

Association of Textile Machinery Manufacturers, nn existing association for the benefit of all members of the Industrv located within 

the United States. V 

ARTICLE II-PURPOSE OF THE CODE 

SECTION 1. The Code is adopted pursuant to Title I of the National Industrial Recovery Act. 

SEc. 2. The purpose of the Code is to effectuate the policy of 

Title I of the National Industrial Recovery Act. 

ARTICLE III-P.ARTICIPATION IN THE CODE 

Participation in the endeavors of the Association relative to 

revisions or additions to this Code shall be based on the following: 

(1) 
2 

(1) payment of the pro-rata share of the cost and administration 

of the Code by becoming a member of the Association; or (2) payment of an equitable pro-rata share of the expense of the administration of the Code (such pro-rata share to be determined on the 

basis of the number of persons employed). 

ARTICLE IV-LABOR PROVISIONS 

(1) Employees shall have the right to organize and bargain collectively through representatives of their own choosing, and shall 

be free from the interference, restraint, or coercion of e1nployers of 

labor, or their agents, in the designation of such representatives 

or in self-organization or in other concerted activities for the purpose of collective bargaining or other mutual aid or protection. 

(2) No employee and no one seeking employment shall be required 

as a condition of employment to join any company union or to 

refrain from joining, organizing, or assisting a labor organization 

of his own choosing; and 

(3) Employers shall comply with the maximum hours of labor, 

minimum rates of pay, and other conditions of employment, approved or prescribed by the President. 

ARTICLE V-MINORS 

On and after the effective date, employers in the Industry shall 

not employ any person under the age of sixteen (16) years; provided, however, that where a State law provides a higher minimum 

age, no person below the age specified by such State law shall be 

employed within that State, and, provided further, that no employee between sixteen (16) and eighteen (18) years of age shall 

work on or in connection with any metal or woodworking, or other 

moving machinery, or on heat process, or in any other hazardous 

occupations. 

ARTICLE VI-WAGES 

SECTION 1. On and aft~r the effective date,, the m1n1mum wage 

that shall be paid by employers in the Industry: 

(a) To accounting, clerical, and office employees, shall be at the 

rate of not less than $14.00 per week; and 

(b) To all other employees ( except outside helpers and shippers 

south of the Potomac River, learners during their initial 90 days, 

apprentices, and watchmen), shall be at the rate of not less than 35 

cents per hour, regardless of whether the employee's compensation 

is otherwise based on a time rate or upon a piece-work performance. 

( c) There shall be an equitable adjustment of wages above the 

minimums herein prescribed to the end that, so far as may be equitable, the differentials which now exist between the wage rates paid 

to skilled workers and those paid to unskilled labor shall be at least 

maintained. 

(d) It is further provided that where a State law provides a 

higher minimum wage no person employed within that State shall 

be paid a wage below that required by such State law. 
3 

The minimum wage that shall be paid by employers in the Industry to outside helpers and shippers south of the Potomac River, 

learners during their initial 90 days, apprentices1 and watchmen, 

shall be not less than the hourly rate which prevailed for the same 

class of labor on July 15, 1929, and in any event not less than 30 cents 

per hour. · 

ARTICLE VII-HOURS OF w ORK 

SECTION 1. On and after the effective date, employers in the Industry shall not operate on a schedule of hours of labor for their 

employees ( except executives, supervisory staff, receiving more than 

$35.00 per week, and outside salesmen) in excess of 40 hours per 

week; provided, however, that during any period in which a concentrated demand upon any division of the Industry shall place an 

unusual and temporary burden for production upon its facilities, an 

employee of such division may be permitted to work not more than 

48 hours per week in not more than 8 weeks of any six months' 

period; provided, however, that the total hours of work shall not 

average more than 40 hours per week in any six months' period. 

Where in any case an employee not expressly excepted above is 

worked in excess of 8 hours per day, time and one half shall be paid 

for the excess hours so worked. 

SEc. 2. Repair and maintenance crews, engineers, and electricians 

may, on and after the effective date, work a tolerance of 10 percent 

in excess of the aforesaid maximum hours per week; provided, that 

time and one half shall be paid for the excess hours so worked. 

SEC. 3. No employee shall be regularly employed more than six 

(6) days in any seven-day period. 

ARTICLE VIII-ADMIKISTRATION 

SECTION 1. To effectuate the policies of Title I of the National 

Industrial Recovery Act, a Code Authority is hereby designated to 

cooperate with the Administrator as a Planning and Fair Practice 

Agency for the Textile Machinery Manufacturing Industry. This 

Code Authority shall consist of nine representatives of the Textile 

Machinery Manufacturing Industry elected by a fair method of selection to be approved by the Administrator. This Code Authority 

may also consist of not more than three members, without vote, to be 

appointed by the President of the United States. Such agency is 

designated for the purpose of administering, supervising, and promoting the performance by employers of the provisions of this Code 

and for otherwise effectuating the policy of the Act. 

The Code Authority shall issue and enforce such rules and regulations, impose upon employers such restrictions, with the approval 

of the Administrator, and designate such agents and delegate such 

authority to them as may be necessary or convenient to effectuate the 

purposes of this Code and the Act. The Code Authority may make 

such rules as to meetings, notices, waivers of notices, and other 

procedural matters as it may from time to time determine. The Code 

Auth-0rity may, to such extent as it may determine, act by . and 

through such divisions of the Industry as it may designate (based 
4 

upon gToupings of members ha.ving a common interest and common 

problems) and representative committees of such divisions. 

SEc. 2. To further effectuate the policies of Title I of the National 

Industrial Recovery Act, the Code Authority is constituted the 

Industry's agent to cooperate with the Administrator with respect 

to future planning and fair practice. The Code Authority may 

from time to time present to -the Administrator recommendations 

based on conditions in the Industry as they may develop from time to 

time which will tend to effectuate the operation of the provisions of 

the Code and the policy of Title I of the National Industrial 

Recovery Act. Such recommendations, when approved by the 

Administrator, shall have the same force and effect as any other 

provisions of this Code. 

SEc. 3. The Code Authority is also a.uthorized to cooperate with 

the Administrator in making investigations as to the functioning 

and observance of any of the provisions of this Code and to report 

them to the Administrator. 

SEc. 4. The Code Authority is also authorized to investigate and 

inform the Administrator on behalf of the Industry, in the manner 

provided in Clause 3 ( e) of the National Industrial Recovery Act, 

with respect to .the importation of competitive articles. 

SEc. 5. Members shall furnish to said Code Authority, in such 

form and at such intervals as said Code Authority may prescribe, 

such reports of information and statistics regarding the working 

hours of employees and the wages of employees as said Code Authority shall require. 

Members of any division designated by said Code Authority shall 

furnish to the committee chosen from and representing their division, as and when requested by such committee, reports with respect 

to prices, discounts, terms of sale, sales, and other allied matters 

concern~ng that part of the business of said members which qualifies 

the·m for said division; such reports to be in such form and to cover 

such intervals of time as the committee may from time to time 

determine. Except as otherwise provided in the National Industrial 

Recovery Act, reports furnished in accordance with this paragraph 

shall be confidential, and the data of one employer shall not be 

r:evealed to any other employer; provided, however, that :for the 

purpose of administering or enforcing this Code the Code Authority, through its duly authorized representatives, shall have access 

to any and all such reports. 

ARTICLE IX-GENERAL 

SECTION 1. If any employer under this Code is also an employer 

cf labor in any other Industry, the provisions of this Code shall 

apply to and effect only that part of his business which is included 

in the Textile Machinery Industry. · 

SEc. 2. Violation by any member of the Industry of any provision hereof or of any approved rule or regulation issued hereunder 

is an unfair method of competition. 

SEO. 3. No provision of the Code shall be interpreted or applied 

in ~mch a manner as to promote monopolies, permit or encourage 

unfair competition, or eliminate, oppress, or discriminate against 

small enterprises. 
5 

ARTICLE X-TRADE PRACTICE 

SECTION 1. No builder of textile machinery shall sell or exchange 

in the United States market, except in fulfilment of contracts 

formed before the effective date, any product (not secondhand) of 

its manufacture at a price, or upon terms or conditions, that will 

result in the customer paying therefor less than the seller's cost, as 

determined in accordance with standard accounting practices. In 

the event that complaint shall be made by a member of the aforesaid 

Code Authority, alleging violation of this paragraph by a member of 

the same division of the Industry, said Code Authority shall appoint 

a special committee to investigate and ~eport. 

SEc. 2. No person shall sell a machine, or parts therefor, copied or 

duplicated by such person from a machine, or parts therefor, made 

by an established builder of textile machinery, at a selling price 

under the reasonable cost. 

SEc. 3. Agents and/or importers of foreign manufacturers of textile machinery, sold in the United States in competition with textile 

machinery made by domestic manufacturers, shall be subject to all 

provisions of this Code covered by Articles VIII and X. 

SEc. 4. Secret rebates, of every kind and however accomplished, 

are absolutely prohibited. 

SEc. 5. Transportation charges: All machinery shall be sold f .o.b. 

factory. 

SEc. 6. Sales for cash : The purchase price shall be payable not 

later than thirty (30) days from date of shipment. 

SEc. 7. Sales on deferred payments ( except as provided in Section 

8 below) : The Purchase price, in any contract with respect to machinery sold in the United States market, shall be payable as follows: 

The initial cash payment on account of said price shall be not 

less than 25 % of said price and shall be paid not later than 30 days 

from date of shipment· the balance of the purchase price shall be 

payable over a period not in excess of two years following the average 

date of shipments under such contract. The rate of interest payable on such deferred payments shall not be less than 5% per annum. 

Stocks or bonds of the purchaser shall not be accepted as payment, 

in whole or in part, of the purchase price. 

No machinery shall be sold on terms other than cash, unless the 

title to or a lien on such machinery is retained by the seller until 

the purchase price therefor shall have been paid in full. 

SEc. 8. With the unanimous approval of his divisional committee, 

any employer may sell on deferred payments on terms other than 

those provided in Section 7 above. 

SEc. 9. Arbitration: The use of arbitration in the pettlement of 

commercial disputes between employers or between buyers and sellers 

under the arbitration rules of the American Arbitration Association 

is recognized as an economical and effective method of adjusting 

business controversies. 

ARTICLE XI-AMENDMENT, CANCELLATION, AND TERMINATION 

SECTION 1. This Code and all the provisions thereof are expressly 

made subject to the right of the President, in accordance with the 
6 

provision of Clause 10 (b) of the N ationa.l Industrial Recovery Act, 

from time to time to cancel or modify any order, approval, license, 

rule, or regulation, issued under Title I of said Act, and specifically 

subject to the right of the President to cancltl or modify his approval 

of this Code or any conditions imposed by him upon hi,s approval 

thereof. 

SEc. 2. Such of the provisions of this Code as are not required to 

be included herein by the National Industrial Recovery Act may, 

with the approval of the President, be modified or eliminated as 

changes in circumstances or experience may indicate. It is contemplated that from time to time supplementary provisions to this 

Code or additional codes will be submitted for the approval of the 

President to prevent unfair competition in price and other unfair 

and destructive competitive practices and to effectuate the other purposes and policies of Title I of the National Industrial Recovery 

Act consistent with the provisions hereof. 

SEc. 3. This Code shall continue in effect for a period of ninety 

(90) days after the effective date and thereafter until terminated as 

hereinafter provided. Subject to statutory provisions then in effect, 

this Code may be terminated at any time after said ninety-day period. 

'1Vhen so terminated, all obligations and liabilities under the Code 

shall cease, except those for unpaid dues and assessments theretofore 

duly made. 

The undersigned does hereby certify that the foregoing is a true 

copy of the Code of Fair Competition for the Textile Machinery 

Manufacturing Industry submitted to the Administrator under the 

National Industrial RecoverY. Act, as amended by authority of Code 

Sub-Committee of the Textile Machinery Manufacturing Industry. 

B. H. BRISTOW DRAPER. 

SEPTEMBER 8, 1933. 
382--.A.4 

Non E OF HEAR! o No. 45 

NATIONAL RECOVERY ADl\HNISTRATION, 

Aiigust 18, 1933. 

TEXTILE MACHINERY MANUFACTURING INDUSTRY 

The above industry, as represented by the National Association of Textile 

Machinery Manufacturers claiming to repre ent 90 percent of the Indu try, 

bas submitted a proposed Basic Code of F air Competition, copies of which are 

available at the office of the National Recovery Administration, Room 4519, 

Department of Commerce, Washington, D.C. The code for the Textile Machinery Manufacturing Industry in its present 

form merely reflects the proposal of the above-mentioned industry, and none 

of the provi ions contained ther in nre to be regarded a having received the 

approval of the National Recovery Administration as applying to this h1rtustry. Notice is hereby given that a Public Hearing on this Code will be conducted 

by the Administrator, beginning at 10 A.M., Friday, August 25, 1933, in the 

Caucus Room of the Senate Office Building, Washington, D.C., and continuing 

until completed. An opportunity to be heard (either in per on OT by duly 

appointed representative either by appearance or by sending a written or 

telegraphic statement) wi11 be given to persons or groups who can ~how a 

substantial interest as workers, employers, consumers, or otherwise, in the effect 

of any provision of the proposed Code. 

Those wishing to be beard must comply with the following simple requirements: 

(1) A written or telegraphic request for an opportunity to be heard must be 

filed before noon on Thursday, August 24, 19·33, with the Administrator, Room 

4422, Department of Commerce, Washington, D.C. • 

(2) Such request shall state the name of (a.) any person seeking to testify 

in the hearing, and (b) the persons or groups whom be represents. 

(3) Such request shall contain a statement setting forth without argument 

a proposal: (1) for the elimination of a specific provis:on of the Code; or (2) 

a modification of a specific provision, in language proposed by the witness; or 

(3) a provision to be added to the Code in language proposed by the witness. 

( 4) At the Public Hearings all persons are regarded as witnesses and shall 

present orally facts only and not argument. Written briefs or arguments may 

be fi:ed, but oral presentations will be confined to factual statements only. 

(5) In the discretion of the Deputy Administrator in charge of the Hearing, 

persons who have not complied with the requirements of paragraph (1) above 

may be permitted at any time prior to the close of the Hearing to file written 

statements containing proposals for eliminations from, modifications of, or 

additions to the code supported by pertinent information or argument. Such 

written statements must be condern,ed as much as possible. 

Public Hearings are solely for the purpose of obtaining in the most direct 

manner the facts useful to the Administrator, and no arguments lwill be heard 

or considered at this time. Representation of interested parties by attorneys 

or specialists is permissible, but it is not to be regarded as necessary. Industry, 

workers, and the consuming public will be represented by special advisers 

employed by the Government. 

MALCOLM Mum, Deputy Administrator. 

(7) 

HUGH S. JOHNSON, 

Administrator. 
STATEMENT OF PROCEDURE-LIST OF WITNESSES 

CERTIFICATE 

SEPTEMBER 7, 1933. 

I, WILLIAM H. CLIFF, the duly elected Secretary of NATIONAL AssocIATION OF 

TEXTILE MACHINERY MANUFAC'I'URERS, hereby certify that the following named 

persons are at this date the duly elected and qualified Directors of said 

Association: 

J.E. Butterworth (H. W. Butterworth & Sons Co.), B. H.B. Draper (Draper 

Corporation), D. F. Edwards (Saco-Lowell Shops), R. A. Leeson (Universal 

Winding Co.), E. H. Peirce (The Atwood Machine Co.), S. F. Rockwell (Davis 

& Furber Machine Co.), E. K. Swift (Whitin Machine Works), C. F. Tillinghast (Textile Finishing Machy. Co.) , J. F. Tinsley (Crompton & Knowles Loom 

Works) . And I further certify that the following named Directors are at this date the 

duly appointed and qualified subcommittee of said Board of Directors with 

respect to obtaining the approval of a Code of Fair Competition for the Textile 

Machinery Manufacturing Industry by the President of the United States : 

B. H. B. Draper, Chairman ; David F. Edwards. 

And I further certify that B. H. Bristow Draper, the Chairman of said subcommittee, has been, by action of said subcommittee, appointed to act for said 

subcommittee, with all the powers of said subcommittee. 

And I further certify that National Association of Textile Machinery Manufacturers consists at this date of concerns employing over 91 % of the labor 

employed in the industry. 

WILLIAM H. CLIFF, 

Secretary. 

Subscribed and sworn to before me this 7th day of September 1933. 

[SE.AL.] ROBERT CUTLER, 

Notary Publio. 

(8) 
CERTIFIOA..TEJ 

• 

SEPTEMBER 7, 1983. 

WE, B. H. BRISTOW DR.APER (Chairman) and DAVID F. EDWARDS, the duly 

appointed subcommittee of the Board of Directors of NATIONAL AsSOOIATION OF 

TEXTILE MACHINERY MANUFACTURERS, with power to act in behalf of said 

Association with respect to obtaining the approval of a Code of Fair Competition for the Textile Machinery Manufacturing Industry by the President of 

the United States, under the National Industrial Recovery Act, hereby appoint 

and constitute the said B. H. Bristow Draper to act for said subcommittee, with 

all of the powers of said subcommittee, in all matters connected with such Code 

of Fair Competition, any and all alterations in, eliminations from, and amendments to said Code of Fair Competition, and the execution of a Code of Fair 

Competition, in such form as said Draper shall approve, for and in behalf of 

said National Association of Textile Machinery Manufacturers. 

B. H. Brusrow DR.A.PE&, 

Chairman. 

DAVID F. EDWARDS. 

Subscribed and sworn to before me this 7th day of September 1933. 

[BEAL.] ROBERT CUTI.ER, Notary Public. 

(9) 
CERTIFICATE 

SEPTEMBER, 7, 1933. 

I, "'WILLIA::'.1:r II. CLIFF, the d uly elected Secretary of NATIONAL AssoCTATION OF 

TEXTILE MACHINERY MANUFACTURERS, hereby certify that at the organization 

meeting of said Association, held pursuant to due notice on August 1, 1933, at 

10: 15 o'clock A.l\I.. at the Cop1ey Plaza Hotel, Boston, Massachusetts, at which 

meeting there were present all of the organizing members of the Association, 

being a quorum for the transaction of business, the following resolution was 

unanimously adopted : 

Voted.-That the draft of Code of Fair Competition for the Textile Machinery 

l\Ianufacturing Industry, as presented. to this (the organization) meeting of 

National Association of Textile Machinery Manufacturers, l>e recommended to 

the Board of Directors of the Association for approval and adoption, pursuant 

to the By-Laws of said Association, subject to such alterations, eliminations, 

and amendments as the Board of Directors (acting through such subco1nmittee 

or subcommittees as it may nppoint) may approve and/or the President of 

the United States may r equire; and that the Board of Directors be authorized 

and empowered, for and on behalf of the Association, 8aid Board acting 

through such subcommittee or subcommittees as it m:iy appoint, forthwith to 

make due application, under the provisions of the National Industrial Recovery 

Act, for the approval of saiu Code by the President of the United States, and 

to take all necessary and advisab!e action in all matters connected with such 

application and such approval, any hearings which may be held with respect 

thereto, and any and all alterations in said Code or eliminations therefrom or 

amendments thereto. 

And I further certify that at a Special Meeting of the Board of Directors of 

said Association, held pursuant to due notice on August 25, 1933, at 12: 15 

o'clock P.M., at the Caucus Room, Senate Office Building, Washington, D.C., 

at which meeting there ,vere present all of the members of the Board of Directors, being a quorum for the transaction of business, the following resolution 

was unanimously adopted : 

Voted.-To approve in behalf of National Association of Textile Machinery 

Manufacturers, pursuant to authority delegated to this Board by said Association at its organization meeting held on August 1, 1933, the proposed Code of 

Fair Competition for the Textile Machinery Manufacturing Industry (Third 

Revision), as presented to this meeting and filed with the records thereof, 

subject to such alterations, eliminations, and amendments as the President of 

the United States or his duly constituted and acting representative may require 

and/or as this Board, or the duly authorized subcommittee of this Board, may 

approve; and to confirm and continue the appointment of B. H. Bristow Draper 

11nd D. F. Edwards, as a subcommittee of this Board, to act in behalf of said 

Association with respect to obtaining the approval of said Code by the President of the United States, under the National Industrial Recovery Act, and to 

represent and act for this Board and said Association in all matters connected 

with said Code, any hearings which may be held with respect thereto, and any 

and all alterations in, eliminations from, and amendments to said Code. 

And I further certify that the draft of Code of Fair Competition for the Textile 

Machinery Manufacturing Industry, attached to this Certificate, is the Code 

of Fair Competition for the Textile Machinery Manufacturing Industry recommended (as set forth in the vote first certified above) by National Association 

of Textile Machinery Manufacturers for approval and adoption, as duly altered 

and amended by the Board of Directors ·of said Association pursuant to said 

vote, and is the same as the Code of Fair Competition for the Textile Machinery 

Manufacturing Industry (Third Revision) approved in the vote last certified 

above. 

WILLIAM H. CLIFF, 

Secretary. 

Subscribed and sworn to before me this 7th day of September 1933. 

[SEAL.] ROBERT CUTI.ER, 

Notary Publio. 

(10) 
LIST OF WITNESSES PUBLIO HE.A.RING NO. 4 5 

TExTILE MACHINERY MANUFACTURING INDUSTRY 

B. H. Bristow Draper, President Draper Corporation ; Edwin 0. Smith, President Rhode Island Warp Stop Equipment Co.; Richard S. Newham, International _ Association of Machinists; and W. W. Britton, Metal Polishers Union. 

REPORT BY THE DIVIB,ION OF ECONOMIO RESEAROH AND PLANNING 

(Attached to original copy) 

(11) 

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