Approved Code No. 307 Regi try No. 1655-01 

NATIONAL RECOVERY ADMINISTRATION 

CODE OF FAIR COMPETITION 

FOR THE 

STAY MANUFACTURING l 

INDUSTRY 

AS APPROVED ON FEBRUARY 26, 1934 

I A 

WE DO OUR PART 

UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON: 1934 

For sale by the Superintendent of Documents, Washington, D.C. - • • • • • Price 5 cent11 
This publication is for sale by the Superintendent of Documents, Governmeut 

Printing Office, Washington, D.C., and by district offices of the Bureau of 

Foreign and Domestic Commerce. 

DISTRICT OFFICES OF THE DEPARTMENT OF COMMERCE 

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Seattle, Wa h.: 809 Federal ~ffice Building. 
Approved Code No. 307 

CODE OF FAIR COMPETITION 

FOR THE 

STAY MANUFACTURING INDUSTRY 

As Approved on February 26, 1934 

ORDER 

ArPROYLY CoDE oF FaiR CoMPETITION FOR THE 'TAY l\fANUFACTURING 

INDUSTRY 

An ap lication ha ing been duly made [ursuant to and in full 

c mplian with the provi ion of Title I o the National Indu trial 

Re Y r Act approve 1 June 16, 1933, for approval of a Code of 

Fair ompetition for the Stay l\1anufacturing Industry, and hearings 

haYing been duly held thereon and the annexed report on aid Code 

c ntaining findings with re pect thereto, having been made and 

dir cted to the Pre ident: 

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

tate I Hugh S. Johnson Administrator for Industrial Recovery, 

pur uant to authority vested in me by Executive Order of the Pre ident including Executive Order No. 6543-A, dated December 30, 

1933 and otherwise; do hereby incorporate by reference said annexed 

r port and do find that aid Code complies in all re pect with the 

pertinent provi ions and will promote the policy and purpo e of 

aiel Title of aid Act· and do hereby order that aid Code of Fair 

omp tition be and it is hereby approved· provid d that within 

ninet day I may direct that ther be a furth r hearing on uch of 

the provi ion f aid od a I may de ignat and tha any ord r 

which I may make after u h hearinO' hall have the :ff t of a conditi n on the approval of ail od ; and proYi 1 cl further that the 

word mpl y e or ' b eliminat l fr m Arti le VII, ection 9. 

H GH . J HX o ... T 

Ad mini ·t1'Cdor fol' l ndu f1'ial Recot'ery. 

Appr val r omm n led: 

GEo. L. BERRY 

Di. i 'ion Admini~ trator. 

\VA HIKGTON D.C. 

February flO 1934. 

42461 °-37G-134-34 ( ''15} 
REPORT TO THE PRESIDENT 

The PRESIDENT, 

The White Ho~tse. 

Sm: This is a report on the approved Code of Fair Competition 

for the Stay Manufacturing Industry, the hearing on which was conducted in vVashington on January 16, 1934, in accordance with the 

provisions of theN ational Industrial Recovery Act. 

The minimum wages provided in thjs code are thirty-five cents 

(35¢) per hour for males and females, with the provision that when 

females of the skilled class perform the same work as males they are 

to receive the same rate of pay. Learners are to receive eighty per 

cent (80%) of the minimum wage, and such learner class is limited 

to five per cent ( 5%) of the total number of employees in any 

establishment. 

The maximum hours provided in this code are forty ( 40) hours 

per week with an allowance of five ( 5) hours per week during any 

eight ( 8) weeks in a six ( 6) months' period, with the provision that 

all time in excess of eight (8) hours per day or forty (40) hours per 

week shall be paid at the rate of time and one-half. 

No person under sixteen (16) years of age shall be employed or 

engaged in this industry. Home work in this industry shall be 

abolished on June 1 1934. 

The word "stay '

5 as used in this industry, was originally interpreted to mean a piece of material used to reinforce, or strenoihen, 

parts of shoes, sporting goods, and other articles usually made of 

leather. It has since been corrupted so that it now refers to reinforcements, trimmings of all kinds made in continuous lengths and 

otherwise, made of leather, imitation leather, and other fabrics in 

widths from one-sixteenth ( T~ ) of an inch to four ( 4) inches wide. 

These products are sometimes folded in various ways, perforated 

pinked, or painted with lacquer. In other cases two (2) or n1ore 

units are combined by ceinenting or stitching. There are al o bindings and interlacings in numerous forms and styles. 

Approximately seventy-five per cent (75%) of the olume of the 

products of this indu try are sold to the shoe manu.facturing industry. A considerable volume although a diminishing volume, is sold 

to the automobile trade. Bindings and seam welting are furni hed 

to the porting goods manufacturers. Bindings, facings and seam 

welting are made for the pat and gait r manufacturers. Seam 

welting , piping , and binding are mad f r the pocketbook bag 

and novelty leather manufacturer . 

The jndu try is larg ly a ervice bu ine s a th majority of th 

product are manufacture 1 on I e ial or ler. N laro'e inventorie 

are kept by the manufa tur r . 

A propo ed ode We originally . nbmitted in July 193 . t that 

time the minimum wage pror o d wa thirteen d liar ($1 .00) p r 

(316) 
317 

w k and th hours w r to b an avera~e of fort. ( -1:0) hour p r 

w k ov r a ix ( ) m nth 1 eriotl and 1 rmitting f rty-eight ( 4 ) 

h urs in an 1 par'ti ·ular w ek. B. th ir own Yoli ion ih maj ri y 

of the rn n1b r of thi indu try op rated uncl r thes pro 'i. ion ·. 

Thi cau eel an in '1' a of api r ximat ly tw nty per nt (20/~ ) 

in their pa_ r ll an l , ppr .-inla l r tw nt. p r nt (20 7c ) in tb 

numb r f 1 1 pl . r • Th lab r rovi ·ions in h approv l od 

' ill cau an th r in r a of t" ent p r en (20 ~ ) in th pa, rr ll. 

and in th t tal numb r f mploy e tlm making a total i1 cr a.· 

f appr ximat l) forty p r nt ( 40 o) oYer the figure: in the earl. 

part of 193 . 

The D pu y A lmini tr~ tor in hi final report to me on . aid Cod 

ha ing foun l a h r in et f rth an l on the ba. i of all the 1 r c<1-

in~ in thi n1att r; 

1 fin l that: 

(a) ai 1 ocl i well de i o·ne l to pron ote th poli ·i . an l purposes f Titl I of the National In lu trial R mer ct in ·luding 

r· moval of b tr 1 ion to tl e free flo of int rstate an l :foreio-n 

comm r e which t nd to dimini h the amount th reo£ and will pr -

ide for th general w lfare by promoting th organization of 

indu tr for he puq o e of co perative action among the trade 

gr up , y indu ino- and maintaining united action of labor an l 

mana()" m nt und r adequate governmental sanctions and npervi ion, 

by liminatino· unf ir competitive practice , by prom ting the fulle t po~ ibl utibzation of the present productive capacity of in hktrie , 

b3 a-voidino· un lu restriction of pro luction ( xcept a may be temp rarily requir d), by increasing the con umption of in lu trial and 

aCYricul ural product · through increa jng pur ha ing power b. r -

dn ing and r li Ying un mployment, by improving tanclard f 

labor, an l b. oth rwi rehabilitating industry. 

(b) aiel Indu try normally mploj not more than ~0;000 empi y e ; an l i not ·la ified by me a a maj r inclu tr . 

(c) Th ole a, approved complie in all re. pect with th p rtin nt rovi ·i n of aid Title of ai Act in In linO' without limitation Snb ecti n (a) of cti n 3 ub ection (a) f S ti n 7 and 

Sub ection (b) f ction 10 thereof· and that the appli ant a o iation is an indu.trial a o iation trul r pr entati of th a for ail 

In lu try; an 1 that ai a o iation imp e no in quitabl re tri -

tion on admi i n to m mber hip ther in. 

( 1) Tb ole i not de igned t and will n t p rmit mon poli 

or mon poli ti practic . 

(e) The d i not le i ·ne to and will not liminate or oppre . 

mall ent rpri an will not op rate to di criminate aCYain ~t them. 

(f) Tho e ngag din other tep of th conomi proc have not 

b en leprive l f th righ to e hear I prior to approval of aid od 

R p tfully, 

FEBR ARY 26 1 4. 

HUGH s. J OHX O:N 

Admini t1·ato1' fm· I ndtt trial Recovery. 
CODE OF FAIR COMPETITION FOR THE STAY 

MANUFACTURING INDUSTRY 

ARTICLE I-PURPOSES 

To effect the policies of Title I of the National Industrial Recovery Act, this Code is established as a Code o.f Fair Competition 

for the Stay Manufacturing Industry, and its provisions shall be 

the standards of fair competition for such industry and shall be 

binding upon every member thereof. 

ARTICLE II-DEFINITIONS 

SECTION 1. The term" industry" as used herein is defined to mean 

the manufacturing, processing, and/or sale by manufacturer or 

processor of stays and trimmings of all kinds in continuous lengths 

or otherwise used on shoes or other articles of manufacture, on which 

these products, made either from leather, imitation leather, cloth, 

or other fabrics, are used, and includes, without limitation, dealing 

in such stays and trimmings which are manufactured or processed 

by others for sale under trade marks, trade names or descriptions 

other than those of the manufacturer or processor of such stays or 

trimmings. 

SECTION 2. The term "member of the industry" includes, but 

without limitation, all those engaged in the industry either as an 

employer or on his own behalf. 

SECTION 3. The term " employee " as used herein includes any and 

all persons engaged in the industry, however compensated, except 

a member of the industry. 

SECTION 4. The term " learner " as used herein means unskilled 

workers with less than six weeks' experience in the industry. 

SECTION 5. The term "Act" and "Administrator" as u cl herein 

mean respectively Title I of the National Industrial Recovery Act, 

and the Administrator for Industrial Recovery. 

ARTICLE III-HoURs 

SEcTION 1. No employee, including office and cleric l mpl 

shall be permitted to work in excess of forty hours in any n ' ek 

or eight hours in any twenty-four hour period, pr ided, how Y r, 

that in special cases of emergency or where r stri ti n of hour f 

skilled workers will delay urgent service to the trad s rYed b the 

industry during any eight consecutive or non- on e utive w k of a 

six month period (the first perio to b gin on January 15 19' 3) 

employees may work not more than f rty-five hours in any on w k. 

Time in excess of eight hour in any twenty-four hour peri r 

forty hours per week shall be paid on a ba i of tim an on -half. 

(318) 
319 

E 'ION 2. The prm 1s1 n. of thi 

hall no b p rmit (l to work in 

lm·ina nornu'll 1 ri l. · an l fiftya l rib l in ction 1 o:f thi 

penni tt d to w rk in ex · . . · of 

than 

. · . pccifi d in 

..L RTI LE IV-V{ A E 
320 

become binding as a part of this code, provided, however, that in no 

event shall prevailing hourly rates of pay be reduced. 

SECTION 5. Female employees of the skilled class who perform the 

same work as male employees shall receive the same rate of pay as 

male employees. 

SECTION 6. A person whose e:;trning capacity is li~ited because of 

age or physical or ment~l hand1cap or other 1ncapac1ty may. b~ employed 011 light or unskilled work, at a wage below the rrunrmum 

established by tllis code, if the employer obtains from the State Authority designated by the United States Department of Labor a 

certificate authorizino- his employment at such wages and for such 

hours as shall be stat~d in the certificate, provided, however, that the 

number of such employees shall not be in excess of five ( 5) per cent 

of the total number of employees in any establishment, but any 

establishment may have at least one such employee. Each employer 

shall file with the Code Authority a list of all such persons employed 

by him. 

ARTICLE V-GENERAL LABOR PROVISIONS 

SECTION 1. No person under sixteen ( 16) years of age shall be 

employed in the industry. No person under eighteen (18) years of 

age shall be employed at operations or occupations which are hazardous in nature or dangerous to health. The Code Authority shall 

submit to the Administrator thirty (30) days after the effective date 

of the code, a list of such operations or occupations. In any State 

an employer shall be deemed to have complied with tllis provision 

as to age if he shall have on file a certificate or permit duly signed 

by the Authority in such State empowered to issue employment or 

age certificates or permits showing that the employee is of the 

r equired age. 

SECTION 2. In compliance with Section 7-(a) of the Act, it is 

provided: 

(a) That 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 employers of 

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

self-organization or 111 other concerted activities for the purpose of 

collective bargaining or other mutual aid or protection. 

(b) That 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 a sisting a labor organization of his own choosing, and 

(c) 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. 

SEcTION 3. No employer hall recla sify employees or duties of oc- cupations performed, or engage in any other subterfuge so as to 

defeat the purpo e or provisions of the Act or of this Code, and in 

this connection, employe s engaged in two or more occupations or 

po itions having different duties connected therewith one or more 

of which being limited by maximum hour , hall be classified under 

the limited hours po ition which is limited to the few r numb r of 

hour per week and shall not be permitted to work a total number 

of hours in exces of those pre cribed for such position. 
321 

SECTION 4. Every employer shall make rea enable provision for 

the afety and health of hi employees at the place and during the 

hours of their employment. 

SECTION 5. No provi ion in this code hall uper ede any State 

or Fed ral law which impo s on employers more tring nt requirement as to age of mpl yees, wages, hours of work, or as to safety, health, sanitary or general working conditions, or insurance, or fire 

pro ection than are impo ed by this code. 

SECTION 6. No home work shall be permitted in this industry 

after June 1, 1934. 

SECTION 7. All employers hall po t copies of all labor provi ions 

of this code in con picuous places acce ible to employees. 

ARTICLE VI-OnaANIZATION PowERs A D DUTIEs OF THE ConE 

AuTHORITY 

SECTION 1. There hall forthwith be constituted a Code Authority 

consi ting of the members of the Executive Committee of the N ationa! As ociation of Stay Manufacturers. 

SECTION 2. In addition to membership as above provided, not 

more than three members, without vote, may be appointed by the 

Admini trator. 

SEcTio 3. Each trade or industrial association directly or indirectly participating in the selection or activities of the Code Authority shall (1) impo e no inequitable r strictions on membership, 

and (2) submit to the Admini trator true copies of its articles of 

a ociation bylaws, r gulations, and any amendments when made 

thereto, together with such other information as to membership, 

organization, and activities as the Admini trator may deem. necessary to effectuate the purposes of the Act. 

SECTION 4. In order that the Code Authority shall at all times 

be truly repre entative of the industry and in other re pects comply 

with the provision of the Act, the Admini trator n1ay pr cribe such 

hearing a he may d em proper; and thereafter if he hall find that 

the Co e Authority is not truly representative or doe not in other 

respects comply with the provisions of the Act, may require an 

appropriate modification in the composition and method of election 

of the Code Authority. 

SECTION 5. lviem.bers of the indu try shall be entitled to participate 

in and hare the benefits of the activities of the Code Authority and 

to participate in the election of the members thereof by u taining 

their rea onable hare of the expen es of its admini tration. uch 

reasonable hare of the expense of ad mini tr ation hall be determined by the Code Authority, ubject to review by the Admini trator, on the ba is of volwne of business and/or uch other factors as 

may be deemed equitable. 

SECTI N 6. Nothing contained in thi Code hall con titute the 

members of the Code Authority partners f r any purpose. N r 

shall any member of the Code Authority be liable in any manner to 

anyone for any act of any other member, officer, agent, or emplo ee 

of the Cole Authority. Nor shall any member of the ode Authority, exercising rea onable diligence in the conduct of hi dutie hereunder, be liable to anyone for any action or omi ion to act under 
322 

this Code, except for his own willful malfeasance, or misfea. ance, or 

nonfeasance .. SECTION 7. The Code Authority shall have the following further 

power and dutie , and if the Administrator shall determine that any 

action of the Code Authority or any agency thereof is unfair or 

unjust or contrary to the public interest, the Administrator may 

require that such action be suspended for a period of not to exceed 

thirty (30) day to afford an opportunity for investigation of the 

merits of such action and further consideration by such Code Authority or agency pending final action which shall be taken only upon 

approval by the Administrator. 

(a) To in ure the execution of the provision of thi code and 

provide for the compliance of the industry therewith. 

(b) To adopt by laws and rules and regulations for its procedure 

and for the administration and enforcement of the Code. 

(c) To obtain from members of the industry such information 

and reports as are required for the Administration of the Code and 

to provide for submission by •members of such information and reports as the administrator may deem necessary, and, in addition to 

information required to be submitted to the Code Authority, all or 

any of the persons subjec:._t to such code, agreement, or license shall 

furni h such statistical information as the Administrator may deem 

nece ary for the purpose recited in Section 3.- (a) of the Act t o 

such Federal and State agencies as the Administrator may designate ; 

nor shall anything in any code, agreement, or license relieve any person of any exi tlng obligation to furnish r eports to Government 

agencies. No individual reports shall be eli clo eel to any other mem- ber of the industry or any other party except to such government al 

agencies as may be designated by the Administrator. 

(d) To use such trade associations and other agencie a it deems 

proper for the carrying•out of any of it activities provided for herein, provided that nothing herein shall relieve the Code Authority of 

its duties or responsibilities under this Code. 

(e) To make recommendations to the Administrator for the coordination of the administration of this Code with such other codes, 

if any, as may be related to the indu try or affect members of this 

industry. 

(f) To secure frmn members of. the indu try an equitable and 

proportionate payment of the rea. onable ex:pen es of maintaininO' 

the Code Authority and its activities. o 

(g) To coop.er~te _with the Administrator in regulating the tre 

of any N.R.A. m 1gma sol ly by those member of the indu try who 

have as ented to, and are complying with, thi Code. 

(h) To recommend to the Admini trator further fair trade practice I rovi ion to gov rn members of the indu try in th ir 1:elations 

\\·ith each other or with other indu trie and to recomm nd to the 

Admini trator mea ures for indu trial planning, in lu hno· . tabilization of employment. 

AnTI LE VII-Tn.\DE Pn.\ TI E RuLF. 

Th following pra tice con ·btnte unfair m th d of ompetition 

of th indu try and are prohibited: 
323 

SEcTION 1. /'JW;ccurate Advertiging.-N o m mb r of the industry 

shall publish advertising (whether printed, radio di play r of any 

other nature), which is mi l ading or inaccurat in n n r material 

particular, nor shall any member in any \fay mi r pr . ·ent an goods 

(including, but without limitation, its u e, tracl mark o-ra 1 quality, 

qu, ntity, origin, size, substance, character, natur , fini -h mat rial, 

content or pr paration) or credit term , valu , poli i ·, ervi s, 

or the nature or form of the business conducted. 

SECTION 2. False Billing.-No member of the indu 'try hall withhold from or insert in any quotati n or invoice any tat n: ent that 

make it inaccurate in any material particular. 

SECTION 3. Inac(fUrate Lcibeling.-No member of th indu try shall 

brand or mark or pack any goods in any manner whi h j intended 

to or does deceive or mislead purcha ers with respe t t the brand, 

grade, quality, quantity, origin, size, ubstance, character, nature, 

finish, n1aterial content or preparation of such goods. 

SECTION 4. I nao(fUrate Refe1·ences to 0 01npetitor, etc.-.... To member 

of the industry shall publish advertising which refers inaccurately 

in any material particular to any competitors or their good , price ·, 

values, credit terms, policies or services. 

SECTION 5. Threats of L(JJU) Suits.-N o member of the industry 

shall publish or circulate unjustified or unwarranted threats of legal 

proceedings which tend to or have the effect of harassing competitors or intimidating their customers. 

SECTION 6. Secret Rebates.-No member of the industry hall offer 

or make any payment or allowance of a r"'bate, refund, commission, 

cr dit, unearned discount, or excess allowance, whether in the form 

of money or otherwise, nor shall a member of the indu try secretly 

offer or extend to any customer any special service or pri ilege 

for the purpose of influencing a sale. 

SE TION 7. Selling on Oonsignment.-No mmnber of the indu try 

shall ship goods on consignment except under circun1 tance to be 

defined by the Code Authority, where peculiar circmn tances of the 

indu try require the practice. 

SE TI N 8. Bribing Employees.-N o member of the indu try hall 

giYe, permit to be given, or directly offer to give, an thinb of Yalne 

for the purpose of influencing or rewarding the action of any employe , agent, or representative of another in l' lation t the busine of the employer of such employee, the prin ir al of uch agent 

or the repre ented party, without the knowledge of u h employer, 

principal or party. This provi ion hall not be on trued o prohibit free and general eli tribution of articles COirunonly used for 

adv rti ing except so far a such articles are actually u ed for 

com1 ercial bribery as hereinbefore defined. 

SE TION 9. Interference with Another's Oont1·acts.-No member 

of the indu. try hall attempt to induce the breach of an exi ting 

contract between a competitor and hi emplovee or cu t mer or 

source of supply; nor hall any such n1en1ber interfere with or 

obstru t the performance of such contractual du ies or services.

1 

SECTION 10. Ooeroion.-No member of the inclu tr hall require 

that the purcha e or lea e of an. good be a pr r quisite to the 

purcha e or lea e of any other good . 

1 See paragraph 2 of ordel' approving this Code. 
324 

SEcTION 11. BlackUsting.-N o member of the industry shall join 

or participate with other members of the industry who with such 

member constitute a substantial per cent of the business in any 

specific product or products of the industry, in any transaction 

known in law as a blacklist, including any practice or device (such 

as a w hitelist), which accomplishes the purpose . of a blacklist. 

SECTION 12. Disoounts.-Discounts for cash shall not be in excess 

of five ( 5) per cent. The general terms of the industry shall be five 

(5) per cent tenth of month following purchase; three (3) per cent 

twenty-fifth of month following purchase; net thereafter for thirty 

( 30) day , after which interest will be charged at the rate of six ( 6) 

per cent per annum. No post datings shall be permitted. 

SECTION 13. Return of M erchand'ise.-The acceptance for credit 

of returned goods made according to bona fide orders, shall constitute unfair competition. The granting of credit for, or allowance 

n1ade for defective goods or for goods not made according to specifications, if claim is not made within fifteen days after receipt of 

merchandise by the customer, shall constitute unfair competition. 

SECTION 14. Labo1· Jobs.-No member of the industry shall invoice work done on materials destined for the shoe indu try on a 

basis of " labor cost only." '¥hen material is furnished by the customer such material must be billed by the customer to the manufacturer at the fair market price. 

SECTION 15. Blanket and Fut'UJre Orders.-The ·oliciting and 

acceptance of blanket and future orders, with no specifications as to 

time of delivery, for a quantity of merchandise beyond the customer's reasonable requirements, for the purpose of according to the 

customer a lower quantity price than would be justified by his actual 

purchases, is unfair trade practice, and constitutes a violation of 

this Code. All blanket and future orders accepted by any member 

of the industry must be bona fide orders and must provide that the 

entire quantity on the order must be accepted by the purchaser within 

a reasonable time but in no case to exceed four months. 

SECTION 16. Members of this industry shall abide by the trade 

term provision of the approved code of their suppliers. 

ARTICLE VIII-STANDARD AccouNTING 

SECTIO.. 1. The Code Authority shall as soon as practicable, formulate a uniform and standard method of accounting and co ting 

for the industry and submit the same to the A lministrator for his 

approval. When it shall have been approved by the Administrator 

after such notice and hearing as may be nece sary every m mber of 

ihe indu try hall use an accounting and costing method which conforms to the principle of and is at lea t as detailed an l complete 

a uch uniform standard method. 

SECTION 2. After approval of said co t accounting method a above 

provided, no member shall sell any product of the indu try at less 

than the cost ther of to su h member, whi h co ~ t shall be d termined 

pursuant to the me tho l of accountin o· and costing prescribed by Section 1 of this articl€ a oon a such m tho l i approved. Until such 

method of accounting i approved a chedule of minimum co t factors hall be pre cribed by the od Authority subj ct to the approval 
325 

of the Admini tr·ator, ancl 111 mb rs of th industry hall not sell 

b low th ir co ts as d termin d in ac ordanc with cost fa tor con- taine l in such chedule until uch time a the tandar l m thod of 

accounting and costing is approved in accordance with Section 1 

h reof. Provided, howe er hat all sale of I ri hable, ob. ol te or 

eli tr s merchandi sometime ailed jobs 'which ar old below 

the nli1 imum prices for regular imilar o-ood d termin d in accord- an e "ith either 1nanner of co t determination provided for herein 

shall be reported immediately to the Seer tary f th ode Authority 

in such detail as he may require a to quantity nature, and rio-in 

of the o·oods sold; and pro ided further that any member of the 

industry shall be permitted to sell below hi t as det rn1ined in 

ac ordance with Section 1 her of to meet a comp titor' I rice if said 

competitors price is not violative of this article. 

ARTICLE IX-~fODIFICATI N 

SECTION 1. Th · s Code and a.ll the pro vi ions thereof ar expres ly 

made ubject to the right of the Pre id nt, in accordance with the 

provisions of sub-section (b) of Section 10 of the Act, from ime to 

time to cancel or modify any order, approval, license, rul , or regu- lation is ued under said Act. 

SECTJO_ 2. This Code, except a.s to provi i ns required by the • ct, 

may be modified on the basis of experience or hano·es in circumtance , uch n1odifications to be ba ·eel upon applicaL1on to the Ad- ministrator and such notice and hearing as he hall p ify, and 

to become effective on approval of the Admini trator. 

ARTICLE X-JVIo~ TOPOLIES ETc. 

No p 'ovi ion of this Code hall be so applied a t permit monop- olies r monopoli tic practic , or to elim.inat , oppre r •ai crun- inate again t mall enterpri es. 

ARTICLE XI-PRICE IN RE_\ E 

\Vherea the polic.. of the Act to in ere~ e ~, al ~)urcha ·ing po er 

will be made 111 r difficult of con tm11nabon If pnce f r1 ds and 

in rea e a rapidly a wa e , it i recognize tha price 

increa , x ept such a may be r quired to m et inc1ivi ual cost, 

houll b delayed but when n1a e uch in rca e hould, o far ae 

po ibl , be limit d to actual additional incr a in the ·eller s costs. 

ARTICLE XII-EFFECT!'~ DATE 

This Code hall become effe tive on the tenth day after its approval. 

Approyed ole ... ,.u. 07. 

Regi try -o. 16-5-01. 

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UNIVERSIT Y OF FlORID A 

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