Registry No. ll04-01 

NATIONAL RECOVERY ADMINISTRATION 

PROPOSED CODE OF FAIR COMPETITION 

FOR THE 

BOLT, NUT, AND RIVET 

INDUSTRY 

AS SUBMITTED ON AUGUST 24, 1933 

, ... , 0---: ,. ......... 

. S. DEP<>MT<MW 

The Code for the Bolt, Nut, and Rivet 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 

UNITED STATES 

GOVERNMENT PRINTING OFFICE 

WASHINGTON : 1933 

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

R. J. WHELA~, 

AMERICAN INSTITUTE OF BoLT, NuT, 

AND RIVET MANUFACTURERS, 

Oleveland, Ohio, Awgust 128, 1933. 

President American Institute of 

BoU, Nwt, and Rivet Ma'fl/Ufacturers, 

Olevdand, 0 hio. 

CHAS. R. FERGUSON' 

0 hairrnan O ode O 01nmittee, A 1nerican I nstitute of Bolt, Nut, and R ivet Manufactwrers, 

Pittsburgh~ Pa. 

GENTLEMEN : Pursuant to a motion unanimously carried at the 

meeting of the Bolt, Nut, and Rivet Industry called on August 24, 

1933, by the American Institute of Bolt, Nut, and Rivet Manufacturers, you are hereby authorized to act for this Industry in presenting its Code of Fair Competition. 

The resolution above referred to reads as follows: 

" It was regularly moved and seconded that the President and the 

Chairman of the Code Committee be appointed as a committee to 

IJresent the Code to the National Recovery Administration with the 

authority to take any other such persons with them as they may so 

desire, and that further, this committee has authority to m.ake such 

changes as may be found necessary in order to effect a Code with 

the National Recovery Administration." 

Very truly yours, 

JDE/ J 

JAMES D. EGGERS, Secretary. 

AMERICA:N INSTITUTE OF BoLT, NuT, 

AND RIVET MANUFACTURERS, 

Oleveland, 0 hio, A uqust 28, 1933. 

NATION AL RECOVERY AmvnNISTRATION CoKTROL DIVISION, 

Washington D.O. 

SIRS: This letter of transmittal is accompanied by twelve (12) 

copies of the Code, four ( 4) copies of the completed application form, 

and four ( 4) copies of the Articles of As ociation and Bylaws of 

the American Institute of Bolt, Nut, and Rivet Manufacturer , a voluntary unincorporated association. The Institute has no Constitution except as above stated. 

The conditions in the Bolt, Nut, and Rivet Industry have been 

gravely depressed in the past three ( 3) years. All the members of 

it, so far as we can ascertain, have been operating at a Joss during 

this period, but since June of this year business conditions have 

improved in some degree, although at the present time orders for 

products are tending to diminish. 

(III) 
I 

During th hol 

an x ption o far a w ar awar 

1111 I e l to the OT at t po ibl xt nt b. ' :tao· · rincr t rm: of 

mplo ment, adoptino- all xpedi ncy p · ibl to r tain th r p - tive organization , and to pro ide for th upport of mpl : ·. Owino- t th int n e comp titian many improp r m thod. haY 

crept into the busine s which the enclosed Code att mpt in a m a - ure to correct. 

The Code is therefore submitted for the consideration of the 

Administration. 

Very truly yours, 

Enclosures. 

AMERICAN INSTITUTE OF BOLT' 

AND RIVET MANUFACTURER.~' 

By R. J. WHELAN, 

By CHAS. R. FERGUSON, 

T T 

' 
CODE OF FAIR COMPETITION OF THE BOLT, NUT, AND 

RIVET INDUSTRY 

ARTICLE I-DEFI~ITIONS 

,vherever used in this Code the terms hereinafter employed in this 

Article shall, unless the context shall otherwise clearly indicate, 

have the respective meanings as hereinafter in this Article set forth. 

SECTION 1. The term "the Industry" means and includes the 

business of manufacturing in the United States bolts, nuts, and/ or 

1·i vets fabricated from ferrous metals. . SEc. 2. The term "member of the Industry" means and includes 

any person, firm, association, or corporation operating a plant, 

plants, or equipment in the United States for the manufacture of 

bolts, nuts, and/ or rivets, including any manufacturer of such products, whether for its own use or for sale. 

SEc. 3. The term " member of the Code " means any member of 

the Industry who shall have become a member of the Code, as hereinafter in Article III provided. 

SEc. 4. The term "the Institute" means the American Institute 

of Bolt, Nut, and Rivet Manufacturers, a voluntary unincorporated 

a sociation. 

SEc. 5. The term "Executive Committee" means the Executive 

Committee of the Institute as from. time to time constituted. 

SEc. 6. The term "base price" of any product means the price for 

such product f.o.b. a ba ing point before any extras in respect of 

such product shall be added. 

SEc. 7. The term " gross or list price " means the price of such 

products, subject to trade discounts, f.o.b. a basing point before any 

extras in respect of such product shall be added. 

ARTICLE II-PURPOSE OF CODE 

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

the President under Section 3-a thereof. 

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

Title I of the National Industrial Recovery Act insofar as it is 

applicable to the Industry. · 

ARTICLE III-MEMBERSHIP IN THE CODE 

SECTION 1. It is of the essence of the Code that all members of the 

In~ustry 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. 

8977-33 (1) 
. ..,, An n1 mb r of th Indu r i eli(Yibl for m mb r hip 

01 . 

E . 3. n m mb r f th Indu tr d irin<Y to b ome a m mb r 

f th o l ma d b igning and d li rino- to th Ex utiv 

ommitt a I tt r ub tantially in he form et f rth in 

h reto annexed. 

E . 4. 1.r m mb r of th Indu try ma participat . endea or of th In titute in the pr parati n of an revi ion of 

or addition or . u1 pl 1nent t thi od , b ace ptino- th 1 r I r 

pr·o rata hare of the co t and re pon ibility of creatin and admini t ring the In titute, either by becon1ing a member of the In titut 

or by paying to it an amount equal to the due from tim to tim 

provid d to be paid by a member in like ituation of the In titut . 

ARTICLE I -Ho ns OF LAnoR, RATE OF PAY A o OTHER OJDITIO 

OF El\IPLOYl\IE T 

ECTION 1. Pur uant to sub ection (a) of e tion 7 of the ati nal 

Indu trial Recovery Act and o lono- a the ode hall be in eff ct, 

the Code hall be subject to the following condition. : 

(1) That emplo ee shall have the right to oro·anize an l bargain 

collectivel through representatives of their own choo ino- and shall 

be free from the interference, re traint or coercion of n11 loyers 

of labor 1 or their agent , in the de ignation of such repre entatives 

or in self-orcranization, or in other concerted activitie for the I urpo e of collective bargaining or other mutual aid or protection· 

(2) That no employee and no one eeking employm nt hall be 

required a a condition of employment to join any company union 

or to refrain from joining, oro-anizing, or a isting 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. 

EC. 2. On and after the effective date of thi Code (meaning 

thereby ten day after the date on which thi Code hall have been 

approved by the Pre ident, pur uant to the ational Indu trial 

Recovery Act), no member of the Code shall cause or permit any 

employe , except executive , tho e employe l in upervi ory capacitie. 

an 1 in techni al work and their r pecti taff . al m n and 

tho e employed in emergency work in ofar a pra ti abl and o 

long a emplo. qualified for the work shall b availabl in the 

r pecti localiti where u h work hall be requir d and havin~ 

due regar l for the varying demand for th con urning and I roce ing indu tri for the product, to work at an av rage in "'""'·"'"'' 

of -for y ( 40) hour per w k in any ix (6) month p riod r to 

work f r more than f rt} -eight ( 4 ) hour or more than ix ( 6) 

la. in any one week. 

EC. 3. On and after th aid ff ti e fat 

that hall be paid by m mber f th ode to an 

in producino- the pr clue of the indu tr and in labor 01 rati n 

dir tly incident th r hall be that hown in ch dule B atta h d 

h r to unle th rate I r hour f r th am cla of labor wa on 

Jul 15 1929 1 than a hown in che lnl B in hich ca the 
3 

rate per hour paid shall be not less than the rate per hour paid on 

July 15, 1929, but in no event shall the rate per hour be less than 

twenty-five cents (25¢) per hour, and provided also that learners 

may be paid not less than eighty ( 80) percent of the minimmn rate 

paid determined in the manner above provided, but the number of 

learners receiving less than said minimum rate so determined shall 

not exceed five (5) percent of the total number of .employees engaged in producing the said product and in labor operations directly 

incident thereto. 

SEc. 4. On and after the said effective date, the minimum wage 

that shall be paid by members of the Code to employees engaged in 

office work, except commission salesmen, shall be not less than fourteen dollars ($14.00) per week, provided that office boys or girls may 

be paid not less than eighty (80) percent of such minimum wage, 

but the number of said office boys or girls paid at the rate of less than 

fourteen dollars ($14.00) per week shall not exceed five (5) percent 

of the total number of employees covered by the provisions of this 

Section. 

SEc. 5. None of the members of the Code shall employ in or about 

its plants in the Industry any person under sixteen years of age. 

ARTICLE V-ADMINISTRATION OF THE CODE 

SECTION 1. The administration of the Code shall be under the direction of the Executive Committee of the Institute. 

SEc. 2. The Executive Committee shall have all the powers and 

duties conferred upon it by the Code and generally all such other 

powers and duties as shall be necessary to or proper to enable it 

fully to administer the Code and to effectuate its purpose. 

The Executive Committee shall have, but not by way of limitation, the following additional powers and duties, to wit: 

( (J)) To enforce the provisions of the Code and through agents or 

otherwise to hear and adjust complaints thereunder. 

( b) To consider proposals for amendments and make recommendations thereon to the President. 

(c) To approve of recommendations for exceptions to the provisions of the Code. 

(d) To collect at such times and in such manner as in its discretion may be deemed advisable statistics of plant capacity, volume 

of production, volume of sales in units and dollars, shipments, orders 

received, unfilled orders, stocks on hand, inventories, both raw and 

finished, number of persons employed, wage rates, earnings of employees engaged in processing operations, hours of work, and such 

other data or information as may be desired in order to determine 

,Yhether the Industry is taking appropriate steps to effectuate in 

all respects the policy of the National Industrial Recovery Act. 

To delegate to the proper officers of the Institute the collection of 

such statistical and other data as may in it di cretion be reasonably 

neces ary; proYided, howeYer, that such statistical and other data be 

compiled in composite form and in such manner as not to be prejudicial to the interests of any individual member. 

( e) From tinie to time to appoint such committees as it shall 

deem necessary or proper .in order to effectuate the purpose of the 
4 

l and in it. <.li.- ·r tion to cl •ll'gat an.· su ·h 'ommitt genrally r in particular in tanc ~· ~u h li> pmn'r. · an l dut:es of 

th Ex •cutiYe ommitt mHl r the ocl a~ ~u ·h Ex!:' ·ntiYe Committ l ~hall cl m n c . ·ary r pro1 r in or l r t< etfe tunt Hl ·h 

l ll 1'1) 

(f) Fr m tim t tim to appoint an l r m ,· , an l fi.· th c mp n ·ati n of l;lll em1 l · a countant · att rn ys. and x1 rt · a · 

·uch Ex l'UtiY ommitte ·hall l m n or prop r f r h 

pnrpo, e of a 1minist rin o· th le. 

(y) To call me tino- f the m mb r of th Co 1e at any tim on 

n t le ·: than three la · notic , ~tatino- th time an l plac of ·u ·h 

m ting an l the purpo e th r f. 

EC. . nv or all information furni h cl t th ExecutiYe ommitt e by an~· m mber f th ode hall be ubj -t to ·h kino- for 

the pnrpo e of Y rifi ati n by an xamina ion f the book an l 

account · and r c rel f u h m rnb r by any ac ountant or a countant · or other p r on or p r on le ignated b. the Exe utiv 'ommitte and hall be o ch eked for uch purpo e if the Executiv ommittee ~hall r quire it. The co t of ea h uch examination hall b 

treated a an expen e of admini. tering the Code · provided lwu• · ,, 

that, if upon . uch examination any ·uch information ~hall b ·hown 

to ha Ye be n wilfully mi rep re ented, uc:h co t hall be pai l by th 

member of the Code who furnished uch information. 

EC. 4. (a) The expen. of admini tering the Coll .,hall be born 

by the members thereof. The Executive Committee from tim to 

time may make uch a _, e ment on account of uch exp n. ·es again t 

the member of the. Code as it hall deem proper, an 1 ·u h a ~e ment 

shall be payable as such Executive. Committe hall . pecif . uch 

expen e a e , ed again t each member of the Co 1e hall bear th 

ame relation· to the. total thereof a. the total value of hi pment of 

produ _ t in dollar made by such member bear t the hipment f 

product in dollar made by all the member . Failur f an} m mber of the Code to pay the amount of any as e ment against uch 

member for a period of thirty davs after the. date on which it becam 

payable (unle · uch period i extended by the Ex utive Committ ) 

hall con ·titnte a violation of the Code. 

(b) The Executive Committe from time to tim . hall ubmit to 

the member of the Code in meeting a mbled for appr val a 

detail l bnclg t of propo eel expenditures an l no mmitm nt or 

ex pen liture hall be ma le in ex ~ ~ of uch approYc l bmlg t. 

EC. 5. Failure of any memb r of the C de prom1 t1 to furni. h 

to the Executive ommittee inf rmati n required b the Ex utiY 

Committee and ub tantially in th form pre rib d b 1 it hall 

con. titute a violation of the o 1 . 

'Ee. 6. Sit1·v y of Eqitipm,ent.- n no-in erino- ~un' y may b 

made f the entire indu try un ler th lir tion f th Ex cuti v 

Committ e with the vi w of a cer aining th exi tino- 1 roducti n 

equipm 'nt of ea h m mber of the incln try , heth r uch memb r 

produc. e mat rial for ale r for it o, n con umption or both. 

It i the con n u of opini n of th Indu ry that until ~ u h tim 

a the cl man 1 f r it produ t cannot be adequat ly m t b th 

full t pra ·ti a 1 n · of existino- equipment u h apaciti h, 11 

not be in r a d or new plants con tructed. Thi I rovi ion, h ,~-
ever, shall not be construed to prevent the replacement of ol~ or 

obsolete equipment, which replacement~ are hereby author~z.ed, 

providing that ·uch replace1nents do no~ ~ncrea ·e presen~ capacities. 

Any member of the Code as pr~requ1s1te to the m.ak1ng of such 

replacements of old or obsolete equipment shall file with the Executive Committee a notice of its intention so to do, furnish complete 

data in respect thereof, and obtain the approval of the Executive 

Committee therefor. 

bEC. 7. The members of the Code recognize that questions of public interest are or may be involved in its administration. Accordingly, representatives of the Administration ~onsisting. of the 

Administrator and one or two other persons appointed by lum ( who 

shall be persons not having or representing interests antagonistic 

to the interests of members of the Industry) shall be given full 

opportunity at such times as shall be reasonably onvenient to dis• 

cuss with the Executive Committee or any committees thereof any 

matters relating to the administration of the Code and to attend 

1neetings of the said Committee at which action on any such matters 

shall be undertaken and to make recommendations as to methods 

or measures of administering the Code. Due notice of all such 

meetings of the Executive Committee shall be given to such representatives of the Administration. The records of the Executive 

Committee and the Institute relating in any way to the administration of the Code shall be open to such representatives at all reasonable times. They shall be afforded complete access at all times to 

all records, statistical material, or other information furnished or 

readily available to the Executive Committee in connection with, 

or for the purpose of, the administration of the Code. The Executive Committee, acting directly or through one or inore committees 

appointed by it, shall give due consideration to all requests, suggestions, or recommendations made by such representatives of the 

Administration and render every possible assistance to such repre~ 

sentatives in obtaining full information concerning the operation 

and administration of the Code, to the end that the President may 

be fully advised regarding such operation and administration 

through reports that may be made to hin1 from time to time by 

such representatives, and to the end that the President may be as-

~ured that the Code and the administration thereof do not promote 

or permit monopolies or monopolistic practices, or eliminate or 

oppress small enterprises, or operate to discriminate against them 

and do provide adequate protection of consumers, competitors, 

employe~s, .and others concerned and that they are in furtherance of 

the public interest and operate to effectuate the purposes of Title I 

of the National Industrial Recovery Act. 

ARTICLE VI 

SECTION 1. Basis of Quotations ancl Sales.- (a) Members of the 

Code shall establish a trade practice of issuino- quotations and invoices on the basis of percentage discounts fro~ the standard oToss 

or list prices on varying classes and sizes of bolts, nuts and r~'ets, 

to be known as "Manufacturers' Standard Bolt, Nut and Rivet 

I 1ists ", and hereinafter referred to as the Gross Lists, which lists 

977-83-2 
·hall b 1 r I ar l aft r an tudy, an l a ·i ntifi · analy. i. 

f c st . ' -call d n t 1 n · . ·hall not b u d in qu tino- .·ell1ng, 

or inY icino· any it m · ·o,· r l by o-ro: lit ·. 

b) '\Yhat i mmonl kn wn in th tracl a. h ayy ri,· t., Yiz. 

riY t 1~" liam t r an l larg r shall be .-olcl at a ba. pri · p r 

p un 1, ~nbj 't to publi ·hec.1 tan lard xtra. ,Yhi ·h xtra :hall bt 

pr I ar 1 aft r an noi.ne rino- .·ttHl , nd a .- i ntifi analy:i of 

O't . 

( c '\Yhat i · mmonl kno,Yn in th tracl a · lar · tra k b lt. 

yjz tra k b lt · 3/4" 1iameter ancl laraer, h at treat cl ·hall b ·old 

at a ba. pric per pound ·ubj ct t I ubli ·h l ·tandar 1 xtra. 

whi ·h xtras shall be pr par d aft r an ngin rino- tudy aml a 

.. cientific analy ·i · of · t . 

(cl) The Executive Committ the ro Li ·t · arnl 

Extra Li t from time to time a · change in manufacturino- and 

other condition may warrant a di clo e 1 b further eno-ineerin otudy an 1 ·cientific analysi of co t , and ale b} m mber :ha 11 

thereafter be ba e 1 on the late t reYi e 1 li t in the mann r in thi: 

Article hereinabo,Te peci:fied; proYided, however that an. ·u ·h 

reYision · hall haYe had the prior approval of n majority of ,·o~ ·~ 

of the m mber of the Cod affected by such r eYi ion . 

( e) ~ one of the foregoino· shall apply to the quotation or ~ale 

of any mi cellaneou item ( other than li tel bolt , nuts anll riY t ) , 

uch a for xample, pipe band , ilo rod foundation rod-, both 

... traio·ht and up et, dock rod , and all bolts nut , an 1 rivet lar ·er 

than li ted ize . The Execufrve Co1nmittce hall liYi le the 'e it m . 

into proper cla · ifications, an 1 m mber hall file their ·o t · with 

the de ignated officer of the In titute, on each cla ~i:fication. A 

"'tatement of these co t shall be furni hed each member filin · 

same, an 1 all ales hall be ba eel on co t. Any acce ·orie I cified in .onjunction with the aboY item ·, ··hall be old at not le. 

than the manufa turing or purcha ing co -t. 

EC. 2. pecial Processing, Packi·ng, Etc.-On item. for whi h 

schedule· coYering e:xtra charge for special proce ing an l l ackino· 

are included in the Gro Li t , no member hall in an a e ·wai" , 

in all or in part, the charging of u h extra ; nor hall any member ell, or offer for ale, an3 product other than item: coYere l in 

the Gro Li ts, and known a '· special · ' at a pric 1 than "·onl<l 

b obtained by a1 plyino- hi current maximum di count to th neare. t iz and diam ter a hown n the Gro . List·· nor ,.,hall any 

rnemL r · 11, or offer for sale, any ' pecial ' item or pro luct at ;1 

price \Yhi ·h fail to take into con i leration th a lcle l co.t OY r and 

aboYe th co .... t of the neare t ize ancl diameter ·hown n th 'ro · 

Li t.. 

E ·. 3. Ba inr; Point. ·.-·Member · of th' 

trade practice of ba ·ing quotation.- an 1 :al 

at variou I oint · whi ·h con ·titute center. f ·t 1 I rocluction which 

Yariou. p int. hall be Birmino-harn, Chicago, levelan 1, and Pitt -

burgh r ganll .- of the a -tnal poin of manufacture or .... hipment. 

Th 1 ri · haro·ec1 to th buyer hall be th m mb r current prie 

f.o.b. th neare t ba:ing I oint t cl ·tination, 1 lu the r gular rnilroa l tariff rate of fr iaht, ith r ·arloa l or le ·-than-carloa1l 11 ,_ 

p n ling on the hipm nt irr . r ctiv of a tual m an · of tran. portation, xc pt on ·hipment to Pa ·ifi 'oa t p int wh r the rail and 
7 

water rate from Birmingham to point of destination shall be added. 

This shall not apply to sales or shipments made to common carriers 

which come under the supervision of the Interstate Commerce C0111-

mission, of material for their own consumption. On ales and shipments made to common carriers as above described, the amount of 

freight to be added from basing points shall be determined by the 

Executive Committee, and shall be calculated on what i commonly 

known as line-haul costs. 

No member shall equalize freight charges based on what is commonly known in the trade and under the Interstate Commerce Act 

as Fabrication in Transit rate . 

SEc. 4. Filing of Price and Discownt ScheduJles.-Each member of 

the Co le shall within ten (10) days after the effective date of the 

Code file with the officer designated by the Executive Committee 

a statement of his maximum discounts and minimum base prices on 

each clas of tandard product, and from and after the expiration 

of uch ten (10) days, such member shall at all times maintain on 

file with the officer such a statement and hall not make any change 

in his price except as herein provided. Each such tatement hall 

state the date upon which it shall become effective which shall not 

be less than ten (10) days after the date of filing, provided, however, that the fir t tatement filed by any member of the Code shall 

take effect on the date of filing thereof. 

None of the maximum discounts or minimum base price shown in 

any statement filed by any member of the Code as herein providerl 

shall be changed except by the filing of such member with the officer 

of a new statement which shall become effective on the effective date 

therein specified, which shall not be le s than ten (10) clays after 

the date on which uch new statement of discounts and base prices 

shall have been so filed. 

Copie of the originals as well as the revi ed statements with 

notice of the effective date specified shall immediately be sent to 

all known n1.anufacturers of such product who thereupon may file, 

if they o cle~ire, revisions of their statement which hall 

become effecti-, e upon the date when the statement fir. t filed hall go 

into effect. 

Any member quoting or selling below his filed price during the 

time that such price i effective shall be considered a having violated 

the Code. 

Obsolete, damaged, rusty, shopworn, or excess material may be disposed of in a pecial manner, prior approval so to do having first 

been ecured from the Executive Committee. 

SEc. 5. (a) Unifo1·1n. Cost Accounting.-Imme liately upon the 

adoption of this Code, the Executive Committee hall take steps to 

provide a uniform method of co. t accounting for the Industry, 

through uch channel.· as may be de ignated by the said Committee. 

(b) P1'ices Below Oo t.-No member of the Code shall sell or offer 

it product for ale, or file with the de:ignate l officer of the In titute, any price or prices which fail to equal it own co t of producing 

each individual item which shall be subject to review by ExecutiYe 

Committee. But nothino· herein contained hall be deemed to require any uch member to , ell hi product above the published or 

e tabli heel elling I rice of any other member. Pending the adop-
ti n f a uniform o t-a countin o. 

th um of all it m r linaril r 

in lnclino- raw mat rial wao·· 

. -·1 n. , l pr ia ti n an 1 g n ral 

111 uran . (c) E..vecuti e :onwnitt e to lnve tiJate Oo t .- ho 1ld any memb r f the ou fil a llin pri e with th de i ·nat l ffic r f the 

In ·titut ba el n a co t which app ar o b at on icl rable , arian from the o t of oth r memb r , th E utiYe ommittce 

may in titute an inve tigation an l d termine h ther or not uch 

o t · ha been properly computed. If u h o t · ar found. to be 

in rror uch member shall immediately file revi ed elling price . A notice of all deci ion of the Executive Committ e under thi ction ~ together with the rea on therefor shall be filed with the 

Pr ident. 

EC. 6. Bro/2 n Container Quantities.- o member of the ode 

hall deYiate from the recogniz l differential for shipment f brok n 

c ntain r quantitie-, a may b provid d in the Gro Li t , re ard- le of the total ize of the order or hipment. SEc. 7. Oontracts.-::Members of the Code shall not contract for 

th ale of bolts, nuts an l rivets for longer than calendar quarterly 

p riods or at a price which is lower than that so filed by uch member for the fir t month of aid period. All contracts shall be for 

p cifiecl maximum quantities, and without option of exten ion or 

renewal on the part of either buyer or seller. All shipments on contracts shall be made within fifteen days after expiration date, or as 

soon thereafter as seller can 1nanufacture and ship the same. o 

quarterly contract shall be made more than thirty (30) days prior 

to the beginning of the calendar quarter and shall be at the price 

effectiYe at the time of the making of the contract. 

EC. 8. T erms of Payment.-ln the case of products shipped from 

plants located on or east of the l\liississippi and Mi souri River to 

Pacific Coast Ports and which shall be invoiced from such plant - 1⁄2 of 1 % hall be deducted if the invoice of such product hall be 

paid within 25 days from the date of such invoice. In all other 

ca e -1⁄2 of 1% shall be deducted if the invoice of such products 

hall be paid within 10 days fr01n the date of uch invoice; provided, 

however, in the latter case, that any member of the Code may allow 

such di count of 1⁄2 of 1 % on the ba is of ettlements two times in 

each month, as follows: 

(1) On invoices for product dated from the 1 t to the 15th, 

inclu ive in any month, uch di count n1a be allo-n·ed on pa ment 

of such invoices on or before the 25th of such month; 

(2) On invoices for products dated fron1 the 16th to the 31 t, 

inclu ive, in any month, uch discount may be allowed on paYn1ent 

of such invoice on or before the 10th of the follo ino· n1onth. 

ny di count allowed in accordance with the provi ion of this 

Sche lul hall appl , only to the in oiced alu . of the I roducts 

spe ified therein and not to an part of the tran )ortation haro· 

on such products. 

In the case of product shipped from plant located on or a ,t 

of the Missi sippi .an l Mis ouri Rivers to Pacifi oa t Port and 

which shall be invoic l from such plants-the free ti1ne hall be 

45 day ; in all other ca -30 days. 
9 

SEc. 9. The maximum periods of free credit which may be allowed 

by any member of the Code shall be the periods herein specified, 

unle s and until such periods shall be changed by the Executive 

Committee. Except as aforesaid, all invoices for products old by 

any member of the Code .after the effective date of the Code shall 

bear interest at 6% from and after the expiration of the period of 

free credit. Nothing in the Code contained shall prevent any member of the Code from allowing credit to any purchaser or allowing 

any purchaser to delay pay1nent in respect of any invoice for a 

longer period than the maximum period of free credit herein above 

pecified; but, if any member of the Code shall allow credit to any 

purchaser or allow any purchaser to delay payment in r espect of 

any inYoice for a period longer than such maximum period of free 

credit, then such m.ember shall cha.rge and collect interest at 6% 

on the amount in respect of which credit shall be so allowed or the 

}Jayment of which shall have been so delayed. 

The term " period of free credit " means the period of ti1ne between the date of a shipment of a product to the purchaser of such 

product and the date from and after which such purchaser shall be 

required to pay interest on the purchase price of such product or 

:any part thereof which shall not have been paid prior to the 

•expiration of such period. 

SEc. 10. Nothing in the Code contained, however, shall be so 

construed as to prevent the performance by any member of the 

Code of a valid, firm contract existing and to which it is a party 

at the effective date of the Code for a definite quantity of any product or for all or .a substantial part of the requirements of the pur-

<:haser thereof (a) at a fixed price; or (b) at a price that can be 

definitely determined in accordance with the provisions of such contract, or ( c) at the market price for such product at the date when .a definite quantity thereof shall be specified under such contract. 

If any member of the Code shall at the effective date thereof be a 

party to any contract for the sale of any product by such member 

which, by its terms, is to continue after December 31, 1933, and by 

its terms the price to be paid for such product by the other party 

to such contract is related to the market price thereof at the date 

when a definite quantity thereof may be specified under such coniract and may be less than such market price, then such member 

shall within thirty days after the effective date of the Code file a 

copy of such contract with the Exectuive Committee in order tha.t 

the said Committee may consider it and take such action in respect 

thereof consistent with the rights and obligations of the parties to 

such contract as such Committee shall deem proper. 

SEC. 11. Guarante.ed Prices.-Members shall not sell or offer for 

sale, any product of the Industry, under any form of guarantee 

against decline in price. 

SEc. 12. Solicitation of Bwsiness-Recognition of Proper Fwnction -of J obbers.-The Industry, in accordance with the above plan of operntion, declares its minimum filed prices to be applicable to wholesale 

jubbing and wholesale con urning trade, and the Executive Committee may prescribe such rules and regulations as it . hall deem proper 

by which the question of whether or not any purchaser or prospective 

purchaser of any product for resale is a jobber or whole ale con- , umer shall be determined. 
Br k r.-. 

nf mat riat 

. al 

10 

and cl al r in u e<l r di tr .- · tock 

b c n. i l r d a jobber or a wh 1 -

min <r uncl r th 

ion ·hall b 

menca. 

AHTICLE VII-UNFAIR Pn rr E 

E TIO T 1. For all purpo e of the Co le, the act h reinaft r described shall con titute unfair practice . 

( 1) The payment to " manufacturers' agents " as the same areknown in the inclu try, of commi ions in e:xce of fi e p rcent including office, traveling, and all other expen e . The ellino· of 

products to a manufacturer's agent is prohibite 1. 

(2) The continuance by a member of the Code in it or hi employment of any manufacturer's agent who hall split or livid hi::-

commission with the buyer or the agent of the buyer. 

(3) The appointment by a m mber of the Code f a jobber or 

dealer of any character as his agent on any basis. 

( 4) Shipments of products by any member f the o<.l on n 

con igned ba i which i hereby defined to be a hip1nent by tile 

member of produc to be paid for by the con. io-n a ol l. or 

·hip1nent on any other basi than that provided in this Code. 

( 5) Any 1nember inducing or attempting to induce the al of 

he products of thi In lu try by mean of an offer to ell any oth r 

articl which uch member mio-ht manufacture or re ell at le than 

r gular market prices for uch product. 

( G) J. o 111 mber of the Code shall permit th return by any l nrcha ·er of any product ·overed herein l liv red in compliance ,vith 

any ·ontra ·t nor ·hall any su h member purcha · r repur lu e sn ·h 

product · aft r the d ,livery thereof by who1nsoev r l liver J u h 

purchaser. 

7) In lucing or att 1111 tino- to induce by any m an any party 

to a contra ·t with a m mb r of the Cod t vi lat uch contral't. 

( ) Th olicitation or ace ptance of ord r f r I ol d hipment::-

of any l ara ·t r ,vh th r in earl al lot or 1 , · r o·ar lle.~.· of tlw 

m thocl f in oicing propo · l wh n it i kno, n or as rtainabk 

by t~1 m mb r that th mat rial o ·or ler l i · -for nrnr than on' 

con. JO'Jl • 

(9) al m mber un 

(lO)Th l viati n from th 

quality nnle.. th buyer i fulJ 

r an. f rm of o-r up pur ·ha UH.(. 

c;:tabli h d tandard of iz' u11d 

inform d of u h (1 Yiation. 
11 

( 11) The sale of products not plainly and correctly described 

and not in full compliance with trade requirements and definitions. 

(12) The failure to specify in every quotation £or sale of the 

prices and terms and all the conditions surrounding such quotations 

for sale. 

( 13) Cancelling in whole or in part or permitting the cancellation in whole or in part, of any contract of sale for any product 

except for a fair cons1deration, or paying or allowing to any purchaser in connection with the sale of any product any bonus, rebate, 

commission, credit, discount, adjustment, or si1nilar concession or 

subsidy other thari is permitted by the Code and specifi€d in the 

contract of sale or included in the price paid or bid. 

(14) Stating in the invoice of any product as the date thereof 

a date other than the date of the shipment of such procluct or the. 

inr'lns1on in any invoice of any product shipped on any other date 

than the date of such invoice. 

(15) Making or promising to any purchaser or prospective purchaser of any product, or to any officer, employee, agent, or representative of any such purchaser or pro pectiYe purchaser, any bribe, 

gratuity, gift, or other payment or remuneration directly or 

indirectly. 

(16) Procuring, otherwise than with the consent of any member 

of the Code, any information concerning the business of such member which is pro.perly regarded by it as a trade secret or confidential 

within its organization, other than information relating to a violation of any provision of the Code. 

(17) Imitating or simulating any design, style, mark, or brand 

used by any other member of the Code. 

(18) Disseminating, publishing, or circulating any false or misleading information relative to any product or price for any product 

of any member of the Code, or the credit standing or ability of any 

member thereof to perform any work or manufacture or produce 

any product, or to the conditions of employment among the em -

ployees of any member thereof. 

(19) Aiding or abetting any person, firm, a sociation, or corporation in any unfair practice. 

(20) The inclusion of any product with other shipments, thereby 

obtaining lmYer cost of transportation than is herein provided. 

(21) Any violation of any other provision of the Code, whether 

or not therein expressed to be such, or u ing, or employing any 

practice not hereinabove described, which the Executive Committee 

shall have declared to be a practice that would tend to defeat the 

policy of Title I of the National Indn trial Recovery Act and therefore an unfair practice, and of which determination by uch Executive Committee notice shall have given to the members of the Code 

and to the Pre ident of the United States. 

Such unfair practices and all other practice which shall be 

declared to be unfair by the Executive Committee, as proYided in 

subdivi ion (21) herein or by any amendment to the Code adopted 

as hereinafter in Article IX provided, and at the time in effect, 

shall be deemed to be unfair methods of competition in commerce 

within the meaning of the statutes in such cases made and provided, 

and the using or employing of any of them shall be deemed to be a 
12 

Yi lation f th and any m mber of th Indu tr r whi h hall 

lir ly r irnlir tl r through any offi r mr loye , ag nt or r pr - ntativ kn wino-I u e r employ an of u h unfair I ractice hall 

b o-uilt of a violation of the od . 

ARTI LE III- E ERAL PR YI IO T 

E 'TI ... 1. Th memb r of th ocl re ogniz that pur uant to 

ub ti n (b) f ction 10 of th .... ational Inclu:trial Recov r. 

t th Pr i l nt ma from tim to time can el or mo lif any ord r 

approYal li · n rul or r gulation i ued und r Titl I of aHt 

ct. 

'E . 2. n notice demand or reque requir cl or p rmitte<l 

to b given to or made upon any member of th o le hall be uttic1cntl giv n if mail d po tao-e prepaid addre ed to uch rnemb r 

at the a ldres of such member on file ith the Executiv ommittee. 

A waiver in writing, signed by any n1ember of the ode of an. 

uch notice demand, or reque t and delivered to the Executi 0111-

nuttee hall be deemed to be the equivalent of a notice d mand or 

request duly given or made whether or not uch waiver wa igned 

and delivered before the time when such notice, de1nand or reque t 

wa required or permitted to be given or made. 

SEc. 3. Nothing herein contained shall be deemed to constitute the 

members of the Code partners for any purpo e, and no officer committee or employee appointed under the ode shall be liable for an 

act or omission to act under the Code except for his malfea ance or 

nonfeasance. 

SEo. 4. At a meeting of the members of the Code, each member 

thereof hall have as many vote as shall equal the quotient obtain cl 

by dividing by one hundred thousand the aggregate amount in dollars of the invoice value of the products delivered by uch member 

for consumption within the Unite l State lurin o- the precedino- calendar year. Fractions in such quotient shall be disregarded· provided however, that each men1ber of the Code shall have at 1 a t 

one vote. 

EC. 5. As soon as members of the Indu try which would if then 

members of the Code, have the rio·ht to ca t at 1 a t 663⁄4 % of all the 

vote that might be ca t at a meeting of ~he member of the o le, if 

all members of the Industry were then member of th ode and 

pre ent at such meeting, hall sign and deliver to the Executive Committee letters substantially in the form et forth in Schedule 

annexed hereto the Executive Committee hall ubmit th ocl to 

the Pre ident for apr roYal pur uant to the provi ions of the _r:r ational 

Indu trial Recovery ct and upon the approval of th od b the 

Pre ident pursuant to the provision thereof it hall con titut a 

binding contract by and among the member · of the ode and th 

provi ions thereof, hall be the standard of fair omp tition for th 

In lu try, ubj ect to the amendm nt or termination ther of a in 

rticle IX h rein provided. 

EC. 6. To the ext nt r quired or permitt d by or und r th l roviion. of Title I of th ational Indu trial Recov r ct the provii n of the od hall apply to and be bin lino· upon r. member 

of the Indu try, wheth r or not such m mber hall be a member of 
13 

the Code. To the extent that it shall be necessary or proper in order 

to effectuate the purpose of the Code, the term "1nember of the 

Code " wherever used in the Code shall be deemed to mean a member 

of the Industry, but no member of the Industry which shall not also 

be a member of the Code in good standing shall be entitled to vote 

at any meeting of members of the Code or to any other right, power, 

or privilege provided in the Code for the members thereof. 

SEo. 7. The Executive Committee shall have power from time to 

time to interpret and construe the provisions of the Code, including, 

but without any limitation upon the foregoing, the power to determine what are products within the meaning of tha.t term as it is 

used in the Code. Any interpretation or construction placed upon 

the Code by the Executive Committee shall be final and conclusive 

upon all members of the Code. However, no provisions of this Code 

shall be interpreted or applied in such manner as to (a) promote 

monopolies; ( b ), permit or encourage unfair competition; ( c) eliminate or oppress small enterprises ; ( d) discriminate against small 

enterprises; or ( e) impose inequitable restrictions on admission to 

membership therein; it being the intent hereof that such membership 

shall be truly representative of the industry. 

ARTICLE IX 

SECTION 1. This Code may be amended at any time by an amendment proposed by the Executive Committee by vote of the majority 

of the members thereof and submitted to a meeting of the members which shall be called for such purpose upon notice given as in 

the subdivision (g) of Section 2 of Article V herein provided. If 

at such meeting members of the Code having the right to cast at 

least 75% of all the votes that might be cast at such 1neeting if all the 

members of the Code were present thereat shall vote in :favor of 

the adoption of such amendment, such amendment shall be submitted by the Executive Committee to the President for approval, 

provided approval by him shall then be required by law, and upon 

approval of such amendment the same shall take effect as a part 

of the Code. 

SEc. 2. This Code shall continue in effect for ·a period of ninety 

days from its effective date and thereafter until terminated. It 

may be terminated at any time after the expiration of such period 

by the same action by members of the Code as is above provided for 

the amendment thereof, and, when so terminated, all obligations 

and liabilities under the Code shall cease except those for unpaid 

assessments theretofore made in accordance with the provisions of 

the Code. 

It shall also be subject to the reserved power of the President to 

cancel or modify his approval thereof, as is provided in Section 1 

of Article VIII hereof. 

SEc. 3. Nothing in this Code contained shall be deemed to constitute a waiver of any constitutional right of any member. 
• 

SCHEDULE ' A" 

LFO&M OF LETTER OF ASSENT T THE ODE) 

AUGUST -- 1933. 

THE EXECUTIVID COMMITTEE OF THE 

MERICAN I :r TITUTE OF BOLT, N'uT & RIVET lVIA.NUFACTURER , 

(]1,1,,(lJrdiiam Bldg., OleveZatnd,, Ohio. 

DEAR Sms : The undersigned desiring to become a member of th Code of 

F'uir Competition of the American In titute of Bolt, Nut & Rivet l\Ianufactur r.·, 

a copy of which is annexed hereto, hereby assents to all the provision. of ·aid 

Code ffective as of tbe date on which the Code ball have been approved 

by the Pre ident n therein provided, or, a of the date on which thi letter 

shall have been delivered, if delivery thereof shall have made ub equent to 

the date on which the Code shall have been approved by the Pre id nt, a 

afore. aid, and by the signing and delivery of this letter becomes a memb r , f 

the Code and hereby agrees with every person, firm, associaUon, 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 ancl 

all such other members. · The address of the undersigned until it shall file with the Secretary of aid 

Institute written notice of the change of such address hall be set forth at 

the foot of this letter. 

Very truly yours, 

Address: 

(14) 
SCHEDULE B 

MINIMUM RATES OF PAY FOR COMMON LABOR 

Cents 

per hour 

1. Eastern District__________________________________________________ 35 

2. Johnstown District_______________________________________________ 37 

3. Pittsburgh District----------------------------------------------- 40 

4. Youngstown Valley District___________________ ____________________ 40 

5. North Ohio River District..:.________________________________________ 40 

6. Canton, 1\Iassillon, Mansfield, Columbus, Dover District_____________ 37 

7. Cleveland District________________________________________________ 40 

8. Buffalo District-------------------------------------------------- 38 9. Detroit-Toledo District_ __ _:________________________________________ 40 

10. South Ohio River District_________________________________________ 37 

11. Indiana-Illinois-St. Louis District_ ____________________________ !.____ 37 

12. Chicago District__________________________________________________ 40 

J 3. Southern District_________________________________________________ 25 

14. Birmingham District _______________ ------------------------------ '.!.7 

15. Kansas City District______________________________________________ 35 

16. Duluth-Minneapolis District____________________________ ___________ 37 

17. Colorado District_________________________________________________ 40 

18. Utah District_____________________________________________________ 39 

19. Seattle District___________________________________________________ 38 

20. San Francisco District____________________________________________ 37 

:21. Los Angeles District______________________________________________ 35 

DESCRIPTION OF WAGE DISTRICTS 

1. Eastern District comprises that part of the United States which 

is north of the State of Virginia and east of a line drawn north and 

south through the most easterly point of Altoona, Pennsylvania; 

that part of the State of J\,faryland which is west of such line; and 

the Counties of Monongalia, Marion, and Harrison in the State of ,iV est Virginia. 

2. Johnstown District comprises Cambria County and the City of 

Altoona in the State of Pennsylvania. 

3. Pittsburgh District comprises the Counties of vVestmoreland, 

Fayette, Greene, vVashington, Allegheny, Beaver, Butler, Arm-

. trong, and Jefferson and that part of the County of Clearfield 

which is west of a line drawn north and south through the most 

easterly point of Altoona, all in the State of Penn.·ylvania. 

4. Young town Valley District com prises the Conn ties of Lawrence, Mercer, and Venango in the State of Pennsylvania and the 

Counties of Trumbull, Mahoning, and Columbiana in the State of 

Ohio. 

5. North Ohio River District comprises the cities along the Ohio 

River north of the City of Parkersburg, ,iV est Virginia, and the 

(15) 
16 1111111111m1111i1~m1~1111~ [ 11~11m ll1'mil1111111111 

3 1262 08582 9835 

Counti '. ' >f BPlmont and J ff r, on in th tat<' of Ohio ancl tlw 

onn ie f ~Iar. hall Ohio, Br ok an l Han ck in th, 'tat of 

"\Y'e,t Yirc)'inia. · 

ant n 1: Ia~ ill n, iran.,fi 11 lnmbu , an l DoY r Di -tri ·t 

c· 1111 ri · , the ""ounti of I rtag tark Tu ·carawa.·, ummit. 

1~ r:rnklin, an l Ri ·hland in th 'tat of Ohio. 

7. lev lantl Di ·tri t ·om1 ri · th ountie · of . ·htabula , Luk , uyah a an l Lorain in th tate of Ohio . . Buffal Di tri t compri · ' that part of th tat of w York 

\Ye t fa lin drawn north ancl outh through t!1 mo -t a -t rly point 

f Altoona P nn . lvania, an l Erie County, P nn ·ylvania. 

9. D troit-T 1 do Di trict comprise the ountie of ene a ancl 

Lu a in the tat of Ohio and the unti of Monroe, L naw e. Jack on, Wayne, Oakland, Macomb, and "\ a htenaw in th tat of 

Michigan. 

10. 'outh Ohio River Di trict compri th tat of K ntucky, 

th City of Parkersburg, vVe t Virginia, th citie along th Ohio 

River outh of said City, the Countie of Guern ey Iu ·kingum 

J ackson, and Butler in the Stat of Ohio and the County of ,v o l 

in the State of West Virginia. 11. I ndiana-Illinois-St. Louis District compri es all the tate of 

Indiana; except the County of Lake; all the State of Illinoi , xcept 

the Counties of Lake and Du P age and the Chicago Switching Di - trict · the City of St. Louis and the County of St. Louis in the tate 

of Mi . ouri; and th County of Rock in the State of Wi con in. 12. Chicago Di trict compri es the Chicago Switching Di trict; 

the Counties of Lake and Du Page in the State of I llinoi ; the ountv 

of Lake in the State of Indiana; and the Counties of Keno ha Racine, and Milwaukee in the State of Wisconsin. 13. Southern District comprises all that part of the United State 

outh of the States of Maryland Wet Virginia, Kentucky, and 

Mi souri, and the States of Texas and Oklahoma, but does not inclnd 

the County of Jefferson in the State of Alabama. 14. Birmingham District comprises the County of Jeff r on 111 

the State of Alabama. 

15. K ansas City District comprises the County of J ackson in th 

State of Mi souri. 16. Duluth-Minneapolis Di trict compri es the State of ~finne ota. 17. Colorado Di trict compri. e the State of Colorado. 

18. Utah Di trict comprises the State of Utah. 19. Seattle Di trict compri e. the County of King in the tat of 

"\Va hinoton an l the County of Multonomah in the State of Oregon. 

20. San Franci co District compri e the Counties of an ~1ateo, 

Alameda, Sacramento and Contra Co ta in the State of alifornia. 

21. Lo ngele Di trict comprises th ounty of Los Ana 1 1n 

tii tat of alifornia. 

0