Code of Honor

Long before Capitol Hill's noisiest business baiters got worked up about the WOCs* (TIME. July 18 et seq.), Commerce Secretary Sinclair Weeks was working out a code of conduct to avoid conflict, or the appearance of conflict, between Government duties and private interests. Last week Secretary Weeks handed down his six-page code, warned his 45,700 employees that failure to observe it could cost them their jobs. Under his new rules, Commerce employees may not:

-- Accept any gift, loan or entertainment that tends to influence the performance of official duty.

-- Engage in any transaction for profit that reflects discredit on the Department.

-- Take part in any decision concerning anyone who has been his employer or client within two years.

-- Speculate in stocks or bonds (investments are all right).

-- Turn a profit by capitalizing an official title or position.

-- Use Government time or resources, e.g., letterheads, for private pursuits.

* Washingtonese for businessmen working for the Government ''without compensation."

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