New Britain herald., 1924-07-09
C. OF {. SUGGESTS
 BUSINESS ETHICS Sends Set to Local Chamber and
 Recommends Adoption

The New Britain Chamber of Com
 merce has received set of IS bust.
 ness principles from the Chamber O!
 Commerce of the United States, which
 is attempting to establish a national
 code of business ethics. The local chamber is asked to accept the code
 itself and to have it adopted by the
 business firms comprising its mem- bership. The code, which was adopt ed recently by the national chamber at its 18th annual meeting, was pre- pared by committe headed by Judge Edwin B. Parker, umpire of the Ger man-American Mixed Claims commits sion, and composed of nationally known lawyers and business men. The local chamber will consider the code at an early date. The Is funda- mental principles which comprise the code are as follows:
 1--The foundation of business is confidence. which springs from integ- rity. fair dealing, efficient service and mutual benefit.
 2-The reward of business for serv- ice rendered is a fair profit plus a safe reserve, commensurate with risks involved and foresight exercised.
 3-Equitable consideration is due in business alike to capital, manage ment, employees and the public
 oWledge-thorough and spe- cifc-and unceasing study of the facts and forces affecting business enter- prise are essential to a lasting indi- xvt1t to the public.
 5-Permanency and continuity of service are basic aims of business, that knowledge gained may be fully utilized, confidence established and efficiency increased.
 6-Obligations to itself and society prompt business unceasingly to strive toward continuity of operation, bet tering conditions of employment, and increasing the efficiency and oppor- tunities of individual employees.
 7--Contracts and undertakings, written or oral, are to be performed in letter and in spirit. Changed con- ditions do not justify their cancella- ton without mutual consent.
 Misrepresentation of goods and services should be truthfully made and scrupulously fulfilled.
 9-Waste in any form-of capital, | labor. servises. materials. or natural resources-is intolerabl and constant effort will be made toward its elimi- nation.
 10-Excesses of every nature-the | imitation of credit over-e expansion, | over-buying, er-stimulation of sales, create artificial conditions and produce crisis and depressions, are condemned.
 11-Unfair competition, embracing all acts characterized by bad faith, deception, fraud, or oppression includ- ing commercial bribery, is wasteful, 1espicable and a public wrong. Busi- ness will rely for it's success on the excellence of it's own service.
 11-Controversy will, where pos 'ibe, be adjusted by voluntary agree nent or impartial arbitration.
 13-Corporate forms do not ab- iolve from or alter the moral obliga- ions of individuals. Responsibilities will be as courageously and conscien- iously discharged by those acting in representative capacities as when act ng for themselves.
 14-Lawful cooperation among bus ness men and useful business organi- ations in support of these principles f business conduct is commended.
 15-Business should render restric- i've legislation unnecessary through 0 conducting itself as to deserve and nspire public confidence.