Approved Code No. 84 — Supplement No. 34 Registry No. 1151—03 NATIONAL RECOVERY ADMINISTRATION SUPPLEMENTARY CODE OF FAIR COMPETITION FOR THE WIRE ROPE AND ST MANUFACTURING (A Division of the Fabricated Metal Products Manufacturing and Metal Finishing and Metal Coating Industry) AS APPROVED ON MAY 24, 1934 WE CO OUR PART UM!V. OF FL Lie i » «■ J - J U.S. DEPOSITORY UNITED STATES GOVERNMENT PRINTING OFFICE WASHINGTON: 1934 For sale by the Superintendent of Documents, Washington, D.C. -------- Price 5 centa This publication is for sale by the Superintendent of Documents, Government Printing Office, Washington, D.C., and by district offices of the Bureau of Foreign and Domestic Commerce. DISTRICT OFFICES OF THE DEPARTMENT OF COMMERCE Atlanta, Ga. : 504 Post Office Building. Birmingham, Ala. : 257 Federal Building. Boston, Mass. : 1801 Customhouse. Buffalo, N.Y. : Chamber of Commerce Building. Charleston, S.C. : Chamber of Commerce Building. 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Approved Code No. 84 — Supplement No. 34 SUPPLEMENTARY CODE OF FAIR COMPETITION FOR THE WIRE ROPE AND STRAND MANUFACTURING INDUSTRY As Approved on May 24, 1934 ORDER Approving Supplementary Code of Fair Competition for the Wire Rope and Strand Manufacturing Industry a division of the fabricated metal products manufacturing and metal finishing and metal coating industry An application having been duly made pursuant to and in full compliance with the provisions of Title I of the National Industrial Recovery Act, approved June 16, 1933, and in accordance with the provisions of Section 1 of Article VI of the Basic Code for the Fabri- cated Metal Products Manufacturing and Metal Finishing and Metal Coating Industry, approved November 2, 1933, for approval of a Supplementary Code of Fair Competition for the Wire Rope and Strand Manufacturing Industry, and hearing having been duly held thereon; and the annexed report on said Supplementary Code, con- taining findings with respect thereto, having been made and directed to the President : NOW, THEREFORE, on behalf of the President of the United States, I, Hugh S. Johnson, Administrator for Industrial Recovery, pursuant to authority vested in me by Executive Orders of the Presi- dent, including Executive Order No. G543-A, dated December 30, 1933, and otherwise ; do hereby incorporate by reference said annexed report and do find that said Supplementary Code complies in all respects with the pertinent provisions and will promote the policy and purposes of said Title of said Act ; and do hereby order that said Supplementary Code of Fair Competition be and it is hereby ap- proved ; provided, however, that the provisions of Article V, Section 3, insofar as they prescribe a waiting period between the filing with the Code Authority (or such agency as may be designated in the Code) and the effective date of price lists, as originally filed and/or revised price lists or revised terms and conditions of sale, be and they hereby are stayed pending my further Order; and provided further, that Article V, Section 1 is deleted. . Hugh S. Johnson, Administrator for Industrial Recovery. Approval recommended : A. R. Glancy, Division A dm in istrator. Washington, D.C., May 2 ^ 193 ! h 62168° 544-13S M4 (J) REPORT TO THE PRESIDENT The President, The White House. Sir : This is a report on the Supplementary Code of Fair Competi- tion for the Wire Rope and Strand Manufacturing Industry a divi- sion of the Fabricated Metal Products Manufacturing and Metal Finishing and Metal Coating Industry, the hearing having been conducted thereon in Washington, D.C., December 22, 1933, in accordance with the provisions of Title I of the National Industrial Recovery Act. GENERAL STATEMENT The Wire Rope and Strand Manufacturing Industry, being truly representative of this division of the Fabricated Metal Products Manufacturing and Metal Finishing and Metal Coating Industry, has elected to avail itself of the option of submitting a Supplemen- tary Code of Fair Competition, as provided for in Section 1 of Arti- cle VI of the Basic Code, for the Fabricated Metal Products Manu- facturing and Metal Finishing and Metal Coating Industry approved by you on the second day of November, 1933. RESUME OF THE CODE Article I states the purpose of the Supplementary Code. Article II accurately defines specific terms employed in the Sup- plementary Code. Article III. This Industry is a division of the Fabricated Metal Products Manufacturing and Metal Finishing and Metal Coating Industry and the labor provisions of its Basic Code, as approved November 2. 1933. are the labor provisions of this Supplementary Code. Article IV establishes a Supplementary Code Authority consist- ing of not to exceed sixteen (1C) members to be elected by the mem- bers of the Industry at a meeting called by the Temporary Supple- mentary Code Committee, and gives the Administrator the authority to appoint one additional member without vote and provides ma- chinery for obtaining statistics and the administration of the Sup- plementary Code. Article V provides for methods of setting up and revising price lists. Article VI sets forth the general merchandising plans of the In- dustry. Article VII provides for an accounting system and methods of cost finding. Article VIII sets forth the unfair trade practices of this Supple- mentary Code, which has been especially designed to offset unfair competition in this division of the Industry. (2) Article IX contains the mandatory provisions contained in Sec- tion 10 (b) and also provides for the submission of proposed amend- ments to the Supplementary Code. Article X provides against monopolies and monopolistic practices. Article XI recognizes that price increases be limited to actual additional increases in the seller's costs. Article XII states the effective date of this Supplementary Code. Schedule A provides forms for assenting to the Supplementary Code. FINDINGS The Deputy Administrator in his final report to me on said Sup- plementary Code having found as herein set forth and on the basis of all the proceedings in this matter : I find that : (a) Said Supplementary Code is well designed to promote the policies and purposes of Title I of the National Industrial Recovery Act, including removal of obstructions to the free flow of inter- state and foreign commerce which tend to diminish the amount thereof and will provide for the general welfare by promoting the organization of industry for the purpose of cooperative action among the trade groups, by inducing and maintaining united action of labor and management under adequate governmental sanctions and supervision, by eliminating unfair competitive practices, by pro- moting the fullest possible utilization of the present productive ca- pacity of industries, by avoiding undue restriction of production (except as may be temporarily required), by increasing the con- sumption of industrial and agricultural products through increasing purchasing power, by reducing and relieving unemployment, by improving standards of labor, and by otherwise rehabilitating industry. (b) Said Industry normally employs not more than 50,000 em- ployees; and is not classified by me as a major industry. (c) The Supplementary Code as approved complies in all respects with the pertinent provisions of said Title of said Act, including without limitation Subsection (a) of Section 3, Subsection (a) of Section 7, and Subsection (b) of Section 10 thereof; and that the applicant group is an industrial group truly representative of the aforesaid Industry; and that said association imposes no inequitable restrictions on admission to membership therein. (d) The Supplementary Code is not designed to and will not permit monopolies or monopolistic practices. (e) The Supplementary Code is not designed to and will not eliminate or oppress small enterprises and will not operate to dis- criminate against them. (f ) Those engaged in other steps of the economic process have not been deprived of the right to be heard prior to approval of said Supplementary Code. For these reasons, therefore, I have approved this Supplementary Code, Respectfully, Hugh S. Johnson, May 24, 1934. Administrator. SUPPLEMENTARY CODE OF FAIR COMPETITION FOR THE WIRE ROPE AND STRAND MANUFACTURING INDUSTRY A DIVISION OF THE FABRICATED METAL PRODUCTS MANUFACTURING AND METAL FINISHING AND METAL COATING INDUSTRY Article I — Purposes To effectuate the policies of Title I of the National Industrial Re- covery Act, the following provisions are established as a Supple- mentary Code of Fair Competition for the Wire Rope and Strand Manufacturing Industry. Pursuant to Article VI of the Basic Code of Fair Competition for the Fabricated Metal Products Manufac- turing and Metal Finishing and Metal Coating Industry, approved by the President of the United States on the second day of Novem- ber, 1933, the provisions of this Supplementary Code shall be the standard of fair competition for the Industry and shall be binding upon every member thereof. Article II — Definitions The term " Wire Rope and Strand Manufacturing Industry ", hereafter referred to as the Industry, is defined to mean the manu- facture for sale of Wire Rope and Strand. The term " Member of the Industry " as used herein includes, but without limitation, any individual, partnership, association, corpora- tion or other form of enterprise engaged in the industry either as an employer or on his or its own behalf. The term " Confidential Agent " as used herein is defined to mean the impartial agency designated b}' the Supplementary Code Authority. The terms "President", "Act" and "Administrator", as used herein, shall mean respectively the President of the United States, Title I of the National Industrial Recovery Act, and the Adminis- trator for Industrial Recovery under said Act. The term " Basic Code ", as used herein, is defined to mean the Basic Code of Fair Competition for the Fabricated Metal Products Manufacturing and Metal Finishing and Metal Coating Industry, as approved by the President on the 2nd day of November, 1933. The term " Supplementary Code Authority ", as used herein, means the Agency which is to administer this Supplementary Code as hereafter provided. The term '"Association ", as used herein, is defined to mean the Wire Rope and Strand Manufacturers Association, or its successor. The term " Secretary " is defined to mean the Secretary of the Sup- plementary C<>ile Authority. The term "Federation" as used herein is defined to mean the Fabricated Metal Products Federation or its successor. (4) Article III — Employment Provisions This Industry is a division of the Fabricated Metal Products Manufacturing and Metal Finishing and Metal Coating Industry and without limitation the wage, hour and labor provisions in Article III of its Basic Code as approved by the President, November 2, 1933, including Sections (1), (2) and' (3) of Section 7, (a) of Title I of the Act are made conditions of this Code, are specifically incor- porated herein and made a part hereof as the wage, hour and labor provisions of this Supplementary Code. Article IV — Organization and Administration Section 1. During the period not to exceed sixty (60) days follow- ing the effective date, the Board of Directors of the Association shall constitute a temporary Supplementary Code Authority until the Supplementary Code Authority is elected. There shall be constituted within the sixty day period a Supple- mentary Code Authority not to exceed sixteen (16) members to be elected by the members of the Industry at a meeting to be called by the temporary Supplementary Code Authority upon ten (10) days' notice sent by registered mail to all known members of the Industry, each member of the Industry to have one vote and such member may vote either in person or by proxy, a majority of votes so cast being necessary for election. A vacancy in the membership of the Supplementary Code Author- ity may be filled by a majority vote of the remaining members of the Supplementary Code Authority. In addition thereto the Administrator may appoint a member of the Supplementary Code Authority who shall be without vote and shall serve without expense to the Industry, unless the Supplemen- tary Code Authority agrees to pay such expense. The representative who may be appointed by the Administrator shall be given reason- able notice of all meetings and may sit at all meetings of the Supple- mentary Code Authority. Section 2. Any Association or Institute directly or indirectly par- ticipating in the selection or activities of the Supplementary Code Authority shall (1) impose no inequitable restrictions on admission to membership, and (2) shall use due diligence in submitting to the Administrator true copies of its Articles of Association, By-Laws, Regulations and any amendments when made thereto, together with such other information as to membership, organization, and activities as may be reasonably necessary to effectuate the purposes of the Act. Section 3. In order that the Supplementary Code Authority shall, at all times, be truly representative of the Industry and in other re- spects comply with the provisions of the Act, the Administrator may prescribe such hearings as he may reasonably deem proper; and, thereafter, if he shall find that the Supplementary Code Authority is not truly representative or does not in other respects comply with the provisions of the Act, he may make appropriate modification or modifications in the method of selection of the Supplementary Code Authority. 6 Section 4. All members of the Industry are subject to the juris- diction of this Supplementary Code; shall be entitled to participate in and share the benefits of the Supplementary Code; shall be en- titled to vote in the selection of members of the Supplementary Code Authority as provided in Section 1 of this Article, and shall pay their reasonable share of the expenses of the Administration of this Supplementary Code, such reasonable share to be determined by the Supplementary Code Authority, subject to review by the Adminis- trator, on the basis of volume of business and/or such other factors as may be deemed equitable by the Supplementary Code Authority. Section 5. Nothing contained in this Supplementary Code shall constitute the members of the Supplementary Code Authority part- ners for any purpose. Nor shall any member of the Supplementary Code Authority be liable in any manner to anyone for any act of any other member, officer, agent or employee of the Supplementary Code Authorit}', nor shall any member of the Supplementary Code Au- thority, exercising reasonable diligence in the conduct of his duties hereunder, be liable to anyone for any action or omission to act under this Supplementary Code, except for his own willful misfeasance or non-feasance. Section 6. The Supplementary Code Authority shall also from time to time furnish to the Basic Code Authority, designated in said Basic Code, such information as may be required to be furnished under terms of said Basic Code. Section 7. The Supplementary Code Authority shall have all the powers and duties which shall be necessary and proper to enable it to fully administer this Supplementary Code and to effectuate its purposes. Without limitation to the foregoing or any other powers or duties provided for in this Supplementary Code, the Supplementary Code Authority shall have the following specific duties, subject to such rules and regulations as the Administrator may prescribe : (a) To adopt by-laws and rules and regulations for, and keep records of its procedure and the administration of this Supple- mentary Code. (b) To designate a confidential agent who shall obtain from members of the Industry such information and reports as the Supple- mentary Code Authoritj' may require for the administration of the Supplementary Code and to provide for submission by members of the Industry to the Administrator of such information and re- ports as are necessary for the purposes recited in Section 3 (a) of the Act: provided that nothing in this Supplementary Code shall relieve any member of the Industry of any existing obligations to furnish reports to any Government agency. No individual reports shall be disclosed to any other member of the Industry or to anyone other than the Administrator or his duly authorized representative. (c) To use such trade associations and other agencies as it deems proper for the carrying out of any of its activities provided for herein, provided that nothing herein shall relieve the Supplementary Code Authority of its duties or responsibilities under this Supple- mentary Code and that such trade associations and agencies shall at all times he subject to and comply with the provisions hereof. (d) To make recommendations to the Administrator for the co- ordination of the administration of this Supplementary Code with such other codes, if any, as may be related to the Industry. (e) To secure from members of the Industry an equitable and proportionate payment of the reasonable expenses of maintaining the Supplementary Code Authority and its activities. (f) To cooperate with the Administrator in regulating the use of any N.R.A. insignia solely by those members of the Industry who have assented to, and are complying with, this Supplementary Code. (g) To recommend to the Administrator further fair trade prac- tice provisions to govern members of the Industry in their relations with each other or with other industries and to recommend to the Administrator measures for industrial planning, including stabili- zation of employment. Section 8. To the extent permitted by the Act, the Supplementary Code Authority may investigate all alleged complaints filed with it by one member or members of the Industry against another member or members of the Industry. Section 9. If the Administrator believes that any action of the Supplementary Code Authority or any agency thereof is unfair or unjust or contrary to the public interest, the Administrator may re- quire that such action be suspended to afford an opportunity for in- vestigation of the merits of such action. Further action by such Supplementary Code Authority or agency regarding the matter complained of may be taken if approved by the Administrator but shall not be taken if disapproved by the Administrator within thirtjr days of notice to him of intention to proceed with such action. Article V — Price List Schedules and Discounts Section 1. In order to bring about fair prices to both consumers and Members of the Industry and to effectuate the provisions of this Supplementary Code, the Members of the Industry agree to the general trade practice of each publishing its own independent price list schedules and/or sales terms and/or base discounts and all dis- counts to be allowed the various classes of trade, making in each case a complete delivered sales price for all its products coming under this Supplementary Code. Section 2. Each Member of the Industry shall, within ten (10) days after the effective date of this Supplementary Code, file with the Secretary of the Supplementary Code Authority its price list schedules and/or sales terms and/or discount sheets which price list schedules and/or sales terms and/or discounts shall become effective on the date of filing. The Secretary of the Supplemental^ Code Authority shall immediately send copies of such filings to all known Members of the Industrj^. No Member of the Industry shall make any change in the price list schedules and/or sales terms and/or discounts so filed except as provided for in Section 3. Such price lists shall be available to all interested buyers at the office of the Supplementary Code Authority. Section 3. Revised price list schedules and/or sales terms and/or discount sheets may be filed, from time to time, with the Secretary of the Supplementary Code Authority by any member of the In- 8 dustry, to become effective ten (10) business days after actual re- ceipt by the Supplementary Code Authority. Copies of such revised price list schedules and/or sales terms and/or discount sheets, with notice of the effective date specified, shall be immediately sent by the Secretary to all known Members of the Industry, who are cooperat- ing in this Supplementary Code, any of whom may file if he so de- sires, to become effective upon the date when the revised price list schedules and/or sales terms and/or discount sheets first filed shall go into effect, revisions of his price list schedules and/or sales terms and/or discount sheets establishing price list schedules and/or sales terms and/or discounts not lower than those established in the re- vised price list schedules and/or sales terms and/or discount sheets first filed. Such revised price lists shall be available to all interested buyers at the office of the Supplementary Code Authority. 1 Section 4. Each Member of the Industry shall furnish the Secre- tary of the Supplementary Code Authority, for distribution, with such number of copies of his price list schedules and/or sales terms and/or discount sheets as the Supplementary Code Authority may prescribe. Section 5. No member of the Industry shall sell or contract to sell directly or indirectly by any means whatsoever, any of his prod- ucts coming under this Supplementary Code at a price other than shown in the price list schedules and discount sheets filed by that Member as provided for under this Article V and/or terms and condi- tions of sale more favorable than those specified in Article VI of this Supplementary Code. Article VI — General Merchandising Plans Section 1. In the case of any contracts, or sales, or other obliga- tions made by a Member of the Industry which may be construed as undermining the effectiveness of the Supplementary Code, it shall be incumbent upon the member involved in the transaction to en- deavor to adjust or modify the transaction. Section 2. No consignments of any products coming under this Supplementary Code shall be permitted by a Member of the Industry to anyone except to an authorized distributor as defined in Section 3 of Article VI of this Supplementary Code, or under circumstances to be defined by the Supplementary Code Authority with the ap- proval of the Administrator, where peculiar circumstances of the Industry require the practice. Section 3. For the purposes of this Supplementary Code, a " Wholesaler " or " distributor " shall be defined as any individual, partnership, association, corporation, or other firm, or a definitely organized division thereof, definitely organized to render and ren- dering a general distribution service, which buys and maintains at his or its place of business a stock of the lines of merchandise which it distributes, and which through salesmen, advertising, and/or sales- promotion devices, sells to retailers and/or to institutional, commer- cial, and/or industrial users. 1 Sec paragraph 2 of order approving this Code. A complete list of each Member's authorized distributors, as well as all subsequent changes, shall be filed with the Secretary of the Supplementary Code Authority, who shall immediately transmit such list or lists to each known member of the Industry who is cooperating in this Supplementary Code. Each Member of the Industry shall require his distributor to be under written contract to act as such distributor. Section 4. The terms of free credit, or the time in which invoices for the products coming under this Supplementary Code become due for payment, shall be thirty (30) days from the date of shipment. A discount of two (2%) per cent may be allowed for early payment as follows : Invoices dated from the 1st to the 15th of the month inclusive if paid by the 25th of that month. Invoices dated from the 16th to the end of the month inclusive if paid by the 10th of the following month. All invoices unpaid at the expiration of the period of thirty (30) days free credit may bear interest at the rate of six (C-%) percent per annum but in no case to be in excess of the legal interest as established by the law in the several states. Article VII — Accounting and Costing Section 1. The Supplementary Code Authority shall cause to be formulated an accounting system and methods of cost finding and/or estimating capable of use by all members of the Industry. After such system and methods have been formulated and approved by the Administrator full details concerning them shall be made available to all members. Thereafter, all members of the Industry shall determine and/or estimate costs in accordance with the principles of such methods, providing the same have the approval of the Administrator. Section 2. When the Supplementaiy Code Authority determines that an emergency exists in this Industry and that the cause thereof is destructive price-cutting such as to render ineffective or seriously endanger the maintenance of the provisions of this Supplementary Code, the Supplementary Code Authority may cause to be deter- mined the lowest reasonable cost of the products of this Industry, such determination to be subject to such notice and hearing as the Administrator may require. The Administrator may approve, dis- approve, or modify the determination. Thereafter, during the pe- riod of the emergency, it shall be an unfair trade practice for any member of the Industry to sell or offer to sell any products of the Industry for which the lowest reasonable cost has been determined at such prices or upon such terms or conditions of sale that the bu}^er will pay less therefor than the lowest reasonable cost of such products. When it appears that conditions have changed, the Supplemen- tary Code Authority, upon its own initiative or upon the request of any interested party, shall cause the determination to be reviewed. 10 Article VIII — Unfair Trade Practices In addition to the unfair practices established in Article V of the Basic Code, except Section A thereof, which are made a part hereof the same as though repeated and set forth at length, and for all purposes of this Supplementary Code, the following described acts shall constitute unfair practices. Any Member of the Industry who shall directly or indirectly, through an officer, employee, agent or representative, use or employ any of such unfair practices shall be guilty of a violation of this Supplementary Code. Rule 1. Procuring, otherwise than with the consent of any Mem- ber of the Industry, any information concerning the business of such Member which is properly regarded by it as a trade secret or confidential within its organization, other than information relat- ing to a violation of any provision of the Supplementary Code. Pule 2. Using or substituting any material superior or inferior in quality to that specified by the purchaser of any product. Pule 3. Inducing or attempting to induce a breach of an existing contract between a member of the Industry and his employees or a distributor or a customer or source of supply ; nor shall any Mem- ber of the Industry interfere with or obstruct the performance of such contractual duties or services. This clause shall not be con- strued to apply to employment contracts. Rule 4. Stating on the invoice of any product as the date thereof a date later than the date of the shipment of such product, or in- cluding in any invoice any product shipped on a date earlier than the date of such invoice. Rule 5. Making any sale or contract of sale of any product under any description which does not fully describe such product in terms customarily used in the Industry. Pule G. Guaranteeing wire rope performance in terms of time, miles, yardage, tons, ton miles or otherwise except as may be au- thorized by the Supplementary Code Authority, subject to review by the Administrator. Guarantees of quality and workmanship may be made. Rule 7. Making an adjustment on any length of wire rope that is not available for inspection. Pile 8. Making an adjustment on oil country wire rope other than in accordance with A. P. I. Standards 9-A of July, 11)31, Section VIII, of " Inspection and Rejection of Wire Rope " or any revision thereof. Rule 9. Publishing or circulating unjustified or unwarranted threats of legal proceedings which tend to or have the effect of harassing Members of the Industry or intimidating their distributors or customers. Failure to prosecute in due course shall be evidence that any such threat is unwarranted and unjustified. Rule 10. Manufacturing and/or offering for sale oversize wire rope in excess of the tolerances outlined in the United States Gov- ernment Master Specifications No. 297 or any revision or modification thereof. Rule 11. No Member of the Industry shall sell remnants, second- hand or obsolete wire rope, except after notification to and approval by the Supplementary Code Authority. 11 Article IX — Modifications and Amendments Section 1. This Supplementary Code and all the provisions thereof are expressly made subject to the right of the President, in accordance with the provisions of sub-section (b) Section 10 of the Act, from time to time to cancel or modify any order, approval, license, rule or regulation issued under said Act. Section 2. This Supplementary Code, except as to the provisions required by the Act. may be modified and/or amended on the basis of experience or changes in circumstances. Such modifications and/or amendments may be proposed in writing to the Supplementary Code Authority by any Member of the Industry. If approved by the Sup- plementary Code Authority or if petitioned by twenty (20) percent of the total vote of the Members by number such modifications and/or amendments shall be submitted to the Members to be voted upon as provided for in Section 3 of Article IX. Any modifications and/or amendments which are approved by the Members of the Industry are to be submitted to the Administrator for such notice and hearing as he shall specify; and to become effective as part of this Supplementary Code upon approval of the President and/or the Administrator. Section 3. The voting power for modifying and/or amending this Supplementary Code shall be vested in the Members of the Industry. A majority by number of all Members of the Industry present in person or by written proxy at any meeting shall constitute a quorum. Affirmative action on any matter to be voted upon must be sup- ported by a majority number of the total votes cast. Article X — Monopolies No provision of this Supplementary Code shall be so applied as to permit monopolies or monopolistic practices or to eliminate, oppress or discriminate against small enterprises. Article XI — Price Increases Whereas the policy of the Act to increase real purchasing power will be made more difficult of consummation if prices of goods and services increase as rapidly as wages, it is recognized that price increases except such as may be required to meet individual cost should be delayed, but when made such increases should, so far as possible, be limited to actual additional increases in the seller's costs. Article XII — Effective Date This Supplementary Code shall become effective at 12 : 01 o'clock on the tenth calendar day after its approval by the President. Approved Code No. 84 — Supplement No. 34. Registry No. 1151-03. SCHEDULE A (1) Secretary, Wire Rope & Strand Manufacturers Association. Dear Sir: The undersigned desiring to participate under the Supplementary Code of Fair Competition for the Wire Rope and Strand Manufacturing In- dustry, hereby assents to all the provisions of the said Supplementary Code, and, specifically, but without limitation to Section S of Article IV of said Supplementary Code which relates to the assessment of penalties against the assenting member of the Industry of this Supplementary Code, and to such changes in the same as may be made by the Supplementary Code Committee in order to meet the requirements of the National Recovery Administration. Effective on the date on which the Supplementary Code is approved by the President of the United States and/or the Administrator for Industrial Re- covery under Title I of the National Industrial Recovery Act, as therein pro- vided, or as of the date on which this letter is delivered, if delivery is made after such date of approval by the President and/or the Administrator, the undersigned by the signing and delivering of this letter, becomes a participant under the Supplementary Code of the Wire Rope and Strand Manufacturing Industry and hereby agrees with every individual, partnership, association, cor- poration, or other form of enterprise who shall then be or thereafter become a participant under said Supplementary Code, that said Supplementary Code shall constitute a valid and binding contract between the undersigned and all such other participants. For all purposes of the Supplementary Code, the address of the undersigned, until written notification or change shall be filed with the Supplementary Code Authority, shall be as set forth at the foot of this letter. Very truly yours, Name of Official (Title) (2) Secretary, Wire Rope d- Strand Manufacturers Association. Dear Sir: The undersigned desiring to participate under the Supplementary Code of Fair Competition for the Wire Rope and Strand Manufacturing In- dustry, hereby assents to all provisions of the said Supplementary Code, with exception of Section 8 of Article IV of said Supplementary Code which relates to the assessment of penalties against the assenting member of the Industry of this Supplementary Code. Very truly yours, Name of Official (Title) (12) O UNIVERSITY OF FLORIDA 3 1262 08583 0312