Approved Code No. 331 Registry No. 407-08 

NATIONAL RECOVERY ADMINISTRATION 

CODE OF FAIR COMPETITION 

FOR THE 

BULK DRINKING STRAW 

WRAPPED DRINKING STRAW 

WRAPPED TOOTHPICK, AND WRAPPED 

MANICURE STICK INDUSTRY 

AS APPROVED ON MARCH 14, 1934 

WE ·oo OUR PART 

UNIV. OF Fl Ui. 

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US DEric-:<".~ -:· .;,- .. • • • • ..J, f" --------=--"'"--" . UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON: 1934 

\ I / 

For sale by the Superintendent of Documents, Washington, D.C. - - - - - - - - P rice 5 ce ntill 
Th1s publication i for ale by the Superintend nt of D cument , G v rnment 

Printing Office, Washington, D.C., and by distri t ofti e::; of the Bur nu of 

F oreign a nd Dome ti c Commerce. 

DISTRICT OFFICES OF THE DEPARTMENT OF COMMERCE 

Atlanta, Ga .: 504 P ost Office Building. 

Birmingham, Al a. : 257 ]), .deral Building. Boston, Ma s. : 1801 Customhouse. 

Buffa lo, N.Y.: Chamber of Commerce Buildin <T. 

Charleston, S.C. : Chamber of Commerce Building. 

Chicago, Ill.: Suite 1706, 201 North Wells Street. 

Cle,eland, Ohio : Chamber of Commer ce. 

Dallas, Tex. : Chamber of Commer ce Building. 

Detroit, Mich.: 01 First Na tional Bank Building. 

Houston, Tex.: Chamber of Commerce Building. 

I ndia napolis, Ind.: Chamber of Commerce Building. 

Jacksonville, Fla.: Chamber of Commerce Building. 

Kansas City, Mo.: 1028 Baltimore A venue. 

Los Angele ·, Calif.: 1163 South Broadway. 

Louisville, Ky.: 408 Feder al Building. :Memphis, Tenn.: 229 Federal Building. Iinneapolis, Minn. : 213 F ederal Building. New Orlean , La. : Room 225-A, Ou tomhou e. New York, N.Y.: 734 Customhouse. Norfolk, Va.: 406 East Plume Street. 

P hiladelphia , Pa. : 42~ c ommercial Tru t Building. Pitt.. burgh, Pa.: Chamber of Commerce Building. Portland, Oreg.: 215 New Po t Office Buildino-. St. Loui , Mo.: 506 Oliv Street. 

an Frunci. co, C, lif. : 310 u. tom ou e. 

~eattle, Wa b.: 09 F ed ral Office Building. 
Approved Code No. 331 

CODE OF FAIR COMPETITION 

FOR THE 

BULK DRINKING STRAW, WRAPPED DRINKING 

STRAW, WRAPPED TOOTHPICK, AND WRAPPED 

MANICURE STICK INDUSTRY 

As App1·oved on rviarch 14, 1934 

ORDER 

ArPROYING CooE OF FAIR COMPETITION FOR THE BuLK DRINKING 

STRAW, \VRAPPED DRINKIXG STRAW, \VRAPPED TOOTHPICK, AND 

\VRAPPED l\1AN IGCRE STICK INDUSTRY 

An application haYing been duly made pur uant to and in full 

compliance with the proYisions of Title I of the National Industrial 

RecoYery Act, approved June 16, 1933, for approval of a Code of 

Fair Competition for the Bulk Drinking Straw, , ,Trapped Drinking 

Straw, \Vrapped Toothpick, and ,vrapped Manicure Stick Indu try, 

and hearings having been duly held thereon and the annexed report 

on said Code, containing findings with respect thereto, having been 

made and directed to the President: 

o,;v, THEREFORE, on behalf of the Pre ident of the United 

State , I Hugh S. Johnson Administrator for Industrial Recovery, 

pur uant to authority Ye ted in me by Execufrve Orders of the 

Pre ident, including Executive Order No. 6543-A, dated December 

30, 1933, and otherwise; do hereby incorporate by reference said 

annexed report and do find that said Code complies in all respects 

with the pertinent provision ancl will promote the policy and purpo e. of said Title of aid Act; and do hereby order that said Code 

of Fair Competition be and it is hereby approved upon condition 

that: 

(1) the provi ions of Article VI, Sections 2 to 9 inclu ive, insofar 

as they prescribe a waiting period between the filing with the Code 

Authority (i.e. actual receipt by the Code Authority) and the 

effective date of re, ised price lists or revised terms and conditions 

of sale be and they are hereby stayed pending my further order; 

(2) the provision in Article III, Section 1, Subsection (d) that 

employees may work 48 hours in any one week shall be limited to 

periods of seasonal or peak demand not exceeding twelve weeks in 

any year. 

46472°-425-74-34 (13 ) 
14 

(3) Section 13 of Article VI be and it i hereby eliminated. 

( 4) Section 9 of Article VI shall not be con trued to deny information concerning filed price to any person havinrr an interest therein. 

II nr S. JorI T, ·o.i: , Arlm,ini, t1•afor· f o,· Indu strial R eco ery. 

Approval recornme1 l d : 

GEonoE L. BmmY, 

Division Admini·frator. 

"\VASHINGTO:N, D.C., 

A~£ arch 14, 19- 4. 
REPORT TO THE PRESIDENT 

The PRESIDENT, 

The Tf hite House. 

Sm: This is a report of the hearing on the Code of Fair Competition for the Bulk Drinking Straw, Wrapped Drinking Straw, 

vVrapped Toothpick and vVrapped Manicure Stick Industry, conducted in -VVa ·hington on January 19, 1934, in accordance with the 

provision of Title I of the National Indu trial RecoYery Act. 

HOURS AND WAGE 

The Code provides a standard 40 hour week for factory workers 

with a weekly tolerance of eight hour in peak seasons to be paid for 

as overtime. The usual exceptions are made in regard to non-productive employees. Office employees are limited to an average of 40 

hours per week over an eight week period. 

The minimum wage rate for hourly paid employee i 40¢ per hour 

for males and 35¢ per hour for females. Office employees will 

receive a minimum wage of $16.00 per week. 

OPE~ PRICE PLAN 

An open price plan of elling i provided and selling below cost, 

except to meet competition, is prohibited. 

OTHER PROYISIONS 

Provi ion is made for furnishing the Administrator with such 

statistical data as he may require. 

ECOXOl\IIC EFFECT OF THE CODE 

The Inclu try employed in 1929 approximately 200 persons and in 

June 1933 about 125 persons. Based on the average hours worked 

in June 1933 and to maintain the level of production of that period, 

the propo eel hour schedule of the Code would require an increased 

employment of approximately 11 % . The increa e in the total payrolls of the Industry as a result of 

the Code will he about 20% . 

FINDINGS 

The Deputy Administrator in his final report to me on said Code 

having found as herein set forth, and on the basis of all the 

proceedings in this matter 

(15) 
16 

I find that: 

(a) Sai~ Code is well d~signed to pr<;>mote the I oli i . and purpo e of Title I of the National Indu trial R cov r 1 t in •lu lina 

removal of ob tructions to th free flow of inter -tate and for io-~ 

commerce which tend to diminish the amount ther of an l will 

pro--vide for the general welfare by promoting the orcraniz. ti n of 

industry for the purpo of cooperative a tion among th trade 

groups, bv inducing and maintaining unit cl a ti n of labor and 

management under adequate governmental unction and ur crvi. ion 

by elimjnating unfair competitive practice , by prom tin 5 the fulle t 

pos ible utilization of the pre ent produ tive c pacit:v of incln..,trie. , 

by a ·oiding undue restrictions of production ( xc0 pt a n a b0 t mporarily r quired), by increasing th on ·umption of indu. trial and 

agric 1ltural products through increasi o· purcha.·incr p w r by r -

ducino· and relieving unemployment, by improvincr tan<lar l of 

labor nd by otherwi e rehabilitating indu.-try. 

(b) Said Industry normally empl y n t 1nor than 50,00 mployees an l i not classified by me a. a major ind Ltry. 

( c) The Code as approved compli in all re p t. with th p rtinent provi ions of said Title of aid A t, includino- with ut limitation Sub ection (a) of Section 3 Sub e t.ion (a) of ction 7 and 

Subsection (b) of Section 10 thereof; and that th appli ant group 

is truly representative of the afore aid Indu tr . (d ) The Code is not designed to and will not permit monopolies 

or monopoli tic l?ractices. 

( e) The Code 1s not designed to and will not eliminate or opp re s 

small enterprises and will not operate to di criminate again t them. 

(f) Tho e enga.ged in other steps of the economi proce shave not 

been deprived of the right to be heard prior t approval of said de. 

For these reasons this Code has been approved. 

Re pectfully, 

H GH . JoH. N 

A dmi ni frat or. 

MARCH 14, 1934. 
':":!:CL~ I - n-:;:_ TI -

- -l 
(2) 

(3) 

(4) 

18 

ARTICLE II-ORGANIZATION AND Aol\IINISTRATION 

raw, 
19 

or which tend or may tend to render ineffective this Code and to 

report the same with recommendations to the Administrator. 

SECTION 7. The Code Authority is hereby constituted the agency 

to endeavor to effect, by arbitral proceedings or otherwi e, adjustments of contracts entered into by members of the Indu. try where 

the cost of executing such contracts are increased through the application of the provisions of the Act or of this Code. 

SECTION 8. :Nothing contained in this Code shall con titute tha 

1nembers of th - Code Authority partners for any purposes, nor shall 

any member of the Code Authority be liable in any way to anyone 

for any act of ·any other member, officer, or agent or employee of the 

Code Authority; nor hall any member of the Code Authority be 

liable to anyone for any action or omission to act under the Code, 

ex ept for hi~ own willful misfeasance or nonfea ance. 

AnTICLE III-HoUR · OF LABOR 

SECTION 1. Employe s in the Industry shall not be required or 

permitted to work hour in excess of the limits prescribed in the 

following ·chedules: 

(a) ,vatchmen: Fifty-six (56) hours in any one week but not 

more than ·ix (6) days in any ·even (7) day period; or fifty-six 

( 56) hours in any one week but not more than eight ( 8) hours in 

any one day. 

(b) Chauffeurs, truckdrivers, and their helpers: One hundred 

eighty (180) hours in any period of four (4) consecutive weeks, provided, however, that time worked in excess of nine (9) hours in 

any one day or forty-five ( 45) hours in any one week shall be paid 

for as not les than time and one third. 

( c) Engineers, firemen, electricians: One hundred sixty-eight 

(168) hours in any period of four (4) consecutive weeks, provided, 

however, that tirn.e worked in excess of nine (9) hours in any one 

clay or forty-five (45) hours in any one week shall be paid for as 

not less than time and one third. 

( d) All other laborers, mechanical workers, or artisans employed 

111 any plant, mill, or factory or on work connected with the operation of such plant, mill, or factory: Eight (8) hours in any one day 

and forty ( 40) hours in any one week, provided, however, that 

the e maximum limits may be exceeded for any reason at any time-1 

proYided that all time worked in excess of the maximums prescribed 

shall be I aicl for as not less than time and one third, and provided, 

further, that no employee shall be required or permitted to work in 

exce s of ten (10) hours in any one day or :forty-eight ( 48) hours 

in any one week. 

(e) Employee regularly engaged in a managerial or executive 

capacity and their personal secretaries, :foremen, and supervisors, 

receiving thirty-five ($35.00) dollars or more per week, and outside 

salesmen : No limitation. 

(f) All other employees : Forty-eight ( 48) hours in any one week 

but not to exceed three hundred twenty (320) hours 111 any period 

of eight (8) consecutive weeks. 1 

1 See pnragrnpb 2 (2) of ordet· approving this Code. 
20 

SECTION' 2. 'o limitation contained in aid schedule shall apply 

to employees of any class when engaged in emergency repair or 

emergency rnaintenan e work occa ionecl by breakdowns or involving protection of life or property, provided, ho,,eYer that all time 

worked in excess of the limitations pre cribed in said s h dule shall 

b paid for a not les than time and one third. 

ECTION 3. Jo employer shall knowino-ly permit any mplo t 

" ·ork for any time which, when totale l with that alrea 13 I erfonn l 

with another employer or employers in thi Indn try ex ·eecl the 

maximum permitted h rein. 

ARTICLE rv-,, AGL 

SECTION 1. Th minimum rate of ,, age of any emploY. , oth r 

than office or clerical employees, employed in any plant, null r factor r or on work connected ,vith the or eration of any u ·h plant mill 

or factory shall be as follows: 

Iale labor, 40¢ per hour 

Female labor, 35¢ per hour 

E TION 2. The 111inimum rat of " ·ao-e f any offi ·e >r ·l n al 

employee shall be a follows: 

(a) Full-time employees $16.00 per we k. 

(b) Part-time employee co ered by the I roYi ion · of thi · cction 

shall be paid at the rate of not le than 40 · per hour. 

SECTI0.1. 3. Thi Arti le e. tablishes a minimwn rat of 1 ay " ·hich 

hall ar ply irre pective of whether an emplo3 ee i actually ·01111 n -

satecl on time-rate, piece-,York, or other ba i . 

E TION 4. Female employee , I erforming ub tantiall th am 

work a male employ es, hall recei e th ame rat f pay a · male 

employees. The Code Authority hall, within nin t, ( v ) day · 

after the effective date of thi Code file with th A<lmini trat r a 

de cription of all o upation in the Inclu try in whi h both men 

an 1 won en are employed. 

E TIO T 5. The ag rat s of all rnplo hall b equitauly r -

aclju t l but in no a hall they b l er a cl. ,, ithin ixty ( ·o 

<la. ' after the eff ctive date her of, th le uth rit. 1 hall r I ort 

to th Aclmini trator the a tion tak n b all m mu r f th n lu.._tr 

uncl r thi cti n for his appro, al of th m tho 1 f uch 

adju tment . 

E TIOK 6. Offi 

to th xt nt f n 

rib d in cti n 2 h reof ma be 11111 y cl 

l · than Oo/c of th minimum pr ~ rib cl b ail ecti n 1 r 

that at 1 a t n u h ffi b r o-irl may b 

r. 
21 

ARTICLE V-GENERAL LABOR PROVI IOXS 

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

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

aue shall be employed at operations or occupations which are hazar lous in nature or dancrerous to health. The Code Authority shall 

submit to the Admini trator within sixty (60) days after the effec- tiYe date of this Code a li t of such operations or occupatjons. In 

any State an employer hall be deemed to have con1.plied with this 

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

duly sicrned by the authority in such State empowered to i sue 

employment or age certificates or permits, howing that the employee 

is of the required age. 

SECTION 2. Employees shall have the right to organize and bargain 

collectiv0ly through representatives of their own choosing and 

shall be free from the interference, restraint, or coercion of employers 

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

or in self-organization or in other concerted activitie for the purpose of collective bargaining or other mutual aid or protection. No 

employee and no one seeking employment shall be required a a 

condition of employment to Join any company union or to refrain 

from joining, organizing, or assisting a labor organization of his 

own choosing. 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 proYi ions in this Code shall supersede any State 

or Federal law which imposes on employers more stringent requirements as to age of emplo3 ees, wages, hours of work, or as to safety, 

health, sanitary or general working conditions or insurance or fire 

protection, than are imposed by this Code. 

SECTION 4. No employer shall reclassify employees or duties of 

occupations performed or engaged in any other ubterfuge for the 

purpose of defeating the purposes or provisions of the Act or of 

this Code. 

SECTION 5. All employers shall post copies of Articles III, IV 

and V of thi Code in conspicuous places acce sible to employees. 

SECTIOX 6. Every employer shall make reasonable provi ions for 

the safety and health of his employees at the place and during the 

hours of their employment. Standards for safety and health shall 

be submitted by the Code Authority to the Administrator within 

six (6) months after the effective date of this Code. 

SECTIO:N 7. The Code Authority shall make a study of conditions 

in the Industry to determine the feasibility of the adoption of a 

shorter working week and shall, within three (3) months after the 

effe tiYe date of this Code, make a report of its findings to the Admini trator. The Code Authority shall also submit to the Administrator within six (6) months after the effective date of this Code, 

a plan for the stabilization and regularization of employment. 

SECTION 8. The manufacture or partial manufacture of any product of the Industry in homes shall be prohibited. 
22 

ARTICLE VI-Acco j_ TING-SELLI Ta 
23 

termined in the manner provided in Section 10 hereo-f, provided, 

howeYer, that any member may by notice to the Code Authority 

adopt as his own a lower price filed by another designated member. 

Such adoption shall become automatically void upon the withdrawal 

or revision upwar l of the price adopted. 

SECTIO 8. Except in fulfillment of bona fide contracts existing 

on the effective date of this Code, no member shall ell or offer for 

sale any product of the Indu try at a price less than a provided in 

thi Article. No member who ~hall have filed a price, or adopted 

as his own a price filed by another member for any product of the 

I ndustry, shall ell uch product for less than such price or upon 

terms or conditions more faYorable than stated in uch price . chedule. No member, who shall have failed to file a price for any product, hall ,_,ell uch product at a lower price or on terms more favorable than the lowest price and most favorable terms stated in any 

price schedule for such product then on file. 

SECTION 9. The Code Authority shall furnish at co t to any person 

or persons entitled to them, copies of any price schedules which may 

be filed. Any such price schedules shall be made available to such 

entitled person at the ame time they are sent to members. 2 3 

SECTION 10. Cost, for the purposes of this Article, shall be determined pur uant to the method of accounting and costing prescribed 

as provided in Section 1 hereof, as soon as such method is adopted 

and approved, and theretofore pursuant to the method employed 

by such member subject to such preliminary rules as the Code 

Authority shall from time to time prescribe with the approval of 

the Administrator. 

S,ECTION 11. For the purpose of determining whether Section 7 

hereof has been complied with, every member shall upon the request 

of the Code Authority furnish a designated agency of the Code 

Authority in regard to clo ed transactions only, with complete information in regard to any quotation, order, contract or ale of any 

product of the Indu~try, including information as to specifications, 

quantitie , price, conditions of storage, transportation or delivery, 

terms of billing, ca h or trade discounts allowed and other pertinent 

facts relating to such quotation contract or sale. 

SECTIO:X 12. Nothing herein contained shall be construed to prevent 

the disposition of distress merchandise required to be sold to liquidate a defunct or insolYent business or of discontinued lines, damaged 

goods or second , in such manner, at such prices and on such terms 

and condition· a the 1ode Authority and the Admini trator may 

approYe. 

SECTIO ... ~ 13. Any member contracting for the distribution of any 

product of the Indus:ry with a di tributor or sales agent, who sells 

such p::.·ocluct both to jobber and retail-con umer , shall provide in 

aid contract that such distributor or sales agent, when making sales 

to retail-con umer , shall not undersell jobbers. If after due investigation the Code Authority shall find that such provision has been 

Yiolated, the member whose di tributor or sales agent has been found 

to have violated aid proYision shall not give to such di tributor or 

sale agent any di count off his published jobber price.

4 

2 'ee paragrapll 2 (1) of ordPr approving tbis Code. 8 See paragraph 2 (4) of orcl e r appro,ing this Code. •

1 Deleted as per par agraph 2 (3) of or der approving tbis Code. 
24 

ARTICLE VII-SELLI TG BELOW REASON ABLE CosT 

SECTION 1. ,vhen the Code Authority determines that an emergency exi t in this Indu try and that the cau e thereof is de tructive price cutting, u h a to render ineffective or eriously endanger 

the maintenance of the provi ion of thi Code the Code Authority 

may cau e to be determined the lowe t rea onable cost of the product of the In lu try u h det rmination to be ubject to uch notice 

and hearing as the Admini trator may require. The A lmini. trator 

may approve, disappr°' e, or modify the cl termination. Thereafter, during the period of the emergency, it shall be an unfair trade 

practice for any member of the Indu try to 11 or offer to ell any 

products of the Industry, for which the lowe t reasonable cost ha 

been determined, at uch price or upon uch term or condition 

of ale that the buyer will pay les therefor tha.n the l°'Ye t rea onable co t of uch proclu t . SECTION 2. ,Vhen it appear that ·ondition have hano- cl the 

Code Authority, upon it own initiatiYe or upon the requ t of any 

intcre 'led party, hall cau.·e the determination to be revi "\T"ed. 

ARTICLE VIII-RE.PORT AND • T. TI TI s 

t th 
25 

ARTICLE IX-MONOPOLIES 

SECTION 1. No provision of this Code shall be so applied as to per• 

mit monopolies or monopolistic practices, or to eliminate, oppress or 

discriminate against small enterprises. 

ARTICLE X-RECOMJHE NDATIONS 

SECTION 1. The ode Authority may, from time to time, present 

to the Administrator recommendations ba,Jed on conditions in the 

Industry which ,Nill tend to effectuate the operation of this Code 

and the policy of the Act, and in particular along the following 

lin s: 

(a) For the e tablishm nt of additional rules of Fair Trade Practice for the Indu try and for the modification of it~ Trade Customs 

and the enforcement thereof. 

(b) For the establishment of plans to equalize production with 

demand so that the interests of the Industry and the public may 

be properly served. 

( c) For dealing with any other inequality that may arise to 

endanger the stability of the Industry and of production and 

employment. 

( d) For an increase or decrease in the number of Industry members 

of the Code Authority and/ or for a change in the method of choo ing 

such members. 

SECTION 2. For the purpose of assisting the Code Authoritie of 

the Paper manufacturing and/ or Converting Industries in the adjustment of all labor disputes and labor complaints arising within such 

Industries, the Code Authority shall consider the advisability of 

creating a Joint Industrial Relations Board for such Industries and 

shall report its recommendations to the Administrator. 

SECTION 3. Recomn1endations made pursuant to Sections 1 and 

2 hereof when approved by the Administrator, and after such hear• 

ing as he may prescribe, shall have the same force and effect as 

other provisions of this Code. 

ARTICLE XI-TR_\DE PR_'i.CTIGES 

SECTION 1. The following are hereby constituted Trade Practices 

for the Industry and failure to comply with the provisions thereof 

hall be a violation of this Code. 

(a) :Members of the Industry shall not practice deception in 

regard to that which is sold or its selling price by false or misleading 

description, statement, record, or undisclosed consideration. 

(b) Members shall refrain from dumping, extension of stated 

credit, and secret rebates. 

( c) Members shall not wilfully injure by falsely defaming a competitor's goods, credit, or ability to perform his contracts. 

( cl) Members shall not wilfully induce or attempt to induce the 

breach of a competitor's contract. 

( e) No member hall give, permit to be given, or directly offer to 

give, anything of value for the purpose of influencing or rewarding 

the action of any employee, agent or representative of another in 
26 1111111111iif l1l\11i1~1\lf !1 l\11 ll1i11 [1 ~~1~1!1!1\1111111111 

3 1262 08853 8029 

relation to the business of the employer of such employee, the principal of such agent or the represented party, without the knowledge 

of such employer, principal or party. The foregoing provisions 

shall not be construed to prohi'bit free and general distribution o± 

articles commonly .used for advertising except so far as such articles 

are actually used for commercial bribery as herein defined. 

( f) No member of the Industry shall ship goods on consignment, 

except under circum tances to be defined by the Code Authority 

where peculiar circumstances of the Industry require the practice. 

(g) No member of the Industry shall require that the purchase 

or lease of any goods be a prerequisite to the purcha e or lea e of any 

other goods. 

(h) As applicable only to the products of Divi ion A of the 

Industry: 

( 1) No member shall take any order · or make any sale contract 

for a period exceeding six ( 6) months and in no case with a shipping 

date, initial or extended, b 0 yond September 30 next o curring. 

(i) The following additional provisions shall apply only to the 

products of Division B of the Industry: 

( 1) ~I embers shall make a specific charge for sketches, clra wings 

and printing plates, excepting where the cu tom r ha · had specially 

imprinted goods before from a member. 

(2) No member shall take an order or contra -t to over r quirement f or a period of more than twelve month . 

ARTICLE XII-GENI:RAL Pnovr 'TON 

SECTION. 1. If any member is al o a member of anoth r indu. try the 

provisions of this Code shall apply t-0 and affect only that part :f 

his bnsine which is included in this Indu try. 

SECTION 2. Any work or proce incidental to and curried on by a 

member at this plant, as a part of the manufacture of any product 

of the Indu try, shall be r egar led as a part of thi Indu try. 

SECTION 3. Such of the provi ion of thi Code a are n t require l 

to be included therein by the Act, ma~', with the approval of the 

Admini -trator, be modifie 1 and eliminat cl a h:rno- in ircumstance or experien e may indicate. 

ECTION 4. This Cod and all the provi ion thereof are expre ly 

made ubject to the right of the Pre id nt in ace rclanc with th 

provi ~ions of Section 10 (b) of the Act from tim t tim to cane 1 

or modify any ord r, approval, li en rul or rE\.,.ula i n i:. n cl 

under Title I of aid A t, and specifically but without limitati n1 to th right of the President to an el r m dify hi appron1l t 

thi ode or any con litions impo ed by him 111 n hi. ~ll I r n1l 

ther of. 

E TION 5. Thi ode hall 

aft r the dat up n whi ·h it 

th Unit l tat 

. 331. 

0 

n th ~ con 1 I n ln 

b th Pr id n .f