-450-


$23,000.00 in esti-iated exenditures the nearly submitted Budget
provided for r reduction in the bases of assessment to 1/4 of 1%
of sales of 1.nufacturors ancd manufacturing jobbers. Based upon
an esti:atcd In.ust-y vol-,me of ;45, 000, OuO.00, the assessrmient
'v'.s estimated to provide a total inco.ie for the year of $112,500.00.
The method of collecting asse!;-.ent- to be as follows: sale of
lab.Is to manufacturerss iand ,anufacturin- jobbers at the rate of
$2.50 per thousand i .abels, the total a. iount of label sales to be
credited. as a:i advance against the Lssessnents.

 A'i.iinistrative Order 332-25, dated lay' 24, 1935, approved
the sutbitted Budget to tihe e:-tent of $31,540.00 for the period
fromu Larch 26, 1275 to Jiuie 16, 1935, and subject to an extension
of the Code by operation o" the lan, conditionally approved the
budgeted eye-rtnitures for- the -)eriod from JuLie 17, 1935 to
larch 25, 1935 in the amount of $7'?,l01.00.

 The basis of contribution ap i:-oved by Order 332-25 as
authorized b:- Article VI, Section 8 (f) of the Code as amended
was 1/4 of l'o of gross sales of each memberr of the In&ustry, payable'
monthly, provided that me-ibers of the IndCatry, shall purchase labels
to be used on articles manufactured and/or sold rt the rate of $2.50
)or th:usa.s-id and charges paid considered as deposits by members of '
the Industry to be credited at the end of each month, during the
budgetary period. Calculating on the approved basis of contribution
(to wit, 1/4 of 1;> of -ros5 sales) Order 3Z2-25 also provided that
the $5,000.0G included in the budget for trade development and re-
search, or any portion thereof, shall not be expended unless such e3
penditures ]shall first be authorized by the National Industrial RecO
ery Board.

 Label Sales and Income

 In subnittin,- the last budget I.arch 13, 1935 the Code
Authority reported:

Estimate of Label Sales fron ;:arch 26, 1934 to
 June 18, 1934 (date of first sale) 10,000,000 labels

ITumiber of Labels actually sold. front June 18,
 1934. to January 31, 1935 25,262,200 "

Estimated February 1st to l.arch 25, 1935 6,000,000 "

Total Labels estimated applicable to full
 year ending i;arch 25, 1'35 41,262,200 labels


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