That girl had a better knack for peacemaking than war, and even a hound like Radagon could be coaxed away from his aggressive mantras. The company used this jingle: A paper hat used by Mead's employees - "That's What I Said" "Mead's Fine Bread and Potato Chips, too" At the top is a nail file given away as a promotional item. Petitioner and its affiliate, Angus, had gross income, cost of goods sold, operating expenses, and taxable income6 for the years in question, as follows: Petitioner retained all of its earnings during the years in issue. In fact, as September 1940 approached I faced zero possibilities of advanced schooling. Moreover, there are, in addition, several factors in the record indicating that one of the purposes of the accumulations during the period before us was to shield the shareholders from taxation. as well as independent and professional researchers. AnyLaw is the FREE and Friendly legal research service that gives you unlimited access to massive amounts of valuable legal data. Mr. Justice DOUGLAS delivered the opinion of the Court. However, to the extent petitioner can establish that it retained all or any part of its earnings and profits to meet the reasonable needs of its business, such amount will be allowed as a credit against its accumulated taxable income7 subject to the accumulated earnings tax. Read more We were announced in proper fashion, to a burst of enthusiastic applause, then we launched into the liveliest set we had: We Shall See the King Someday, At the Cross, Give Me That Old-time Religion, Gipsy Smiths Jesus Saves, with, you may be sure, full symphonic accompaniment. For its taxable years 1956 through 1958, it timely filed its income tax returns, prepared on the accrual method, with the district director of internal revenue at Dallas, Texas. He thought I didnt have a good voice, because I couldnt take that bass lead in Give the World a Smile Each Day the way the Stamps-Baxter Quartet bass did. The Mead family has been engaged in the business of manufacturing and distributing bread on a wholesale basis in the southwestern part of the United States since at least 1938. The consolidated accumulated earnings credit is. Mead's Frozen Foods, Inc., was organized on September 3, 1958, by E. P. Mead and two other individuals, who were potential customers of this corporation, to engage in the manufacture and sale of frozen rolls and biscuits. One by one the rest got tickled and had to drop out, the organist quit playing, and I found myself, the bass, doing a solo on Some Time Well Understand, while my bereaved friend looked on with bafflement. Featuring thousands of newspapers, photographs, sound recordings, technical drawings, and much more, this diverse collection tells the story of Texas through the preservation and exhibition of valuable resources. awards, and more. Petitioner filed its returns with Angus on a consolidated basis. ELASTY FINE Filler 2 Pack | FREE 2-5 DAY SHIPPING | Remove Lines, Plump Lips, Fill Wrinkles - Works with PDO Threads | by VIVID-SCIENTIFIC - US East Coast, 1.0 . Our theme song was bouncy: Theres within my heart a melody . Pursuant to section 537, the term "reasonable needs of the business" includes the reasonably anticipated needs of the business. We do not agree with any of petitioner's contentions relating to its advances to Angus. 529 (1933), reversed on another issue [36-1 USTC 9019] 296 U.S. 374 (1935); McClintock-Trunkey Co. [Dec. 19,316], 19 T.C. By April 30, 1957, these increased to $250,000 and to $421,000 as of April 30, 1958. Our Findings of Fact contains the various factors which led us to this conclusion. After a revenue agent made an income adjustment to Angus' return in 1956 for unreported rental income of $4,200, Angus in subsequent years began to report rental income for the quarters occupied by Ed V. Mead. RECIPE BELOW:This is a super simple bread using our Self Rising flour - http://youtu.be/oG3UYanvMjMYou can make this with ale, but Mead, which is a honey ale. It maintains its books and records and files its Federal income tax returns on the basis of a fiscal year ended April 30. Although the terms of the Penn Mutual loan were somewhat less stringent than those of the bank loans, nevertheless, petitioner found them confining. MEAD'S FINE BREAD COMPANY is a New Mexico Foreign Profit Corporation filed on November 21, 1949. The major portion of this amount consisted of $281,000 representing proceeds from the Penn Mutual loan. [Mead's Fine Bread Company], Listed below are those cases in which this Featured Case is cited. large collection of U.S. government documents. Fred nearly cried when I walked into the studio. 121 Argued November 17, 1954 Decided December 6, 1954 348 U.S. 115 Syllabus Petitioner sued respondent for treble damages for violations of 2 of the Clayton Act and 3 of the Robinson-Patman Act. Leave them blank to get signed up. Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. MEAD'S FINE BREAD COMPANY (trading name, 1949-11-08 - 1960-04-29) Eternal Father, strong to save, Whose arm hath bound the restless wave, Who biddst the mighty ocean deep Its own appointed limits keep, O, hear us when we cry to Thee For those in peril on the sea! The Hymn of the U.S. Navy. 1954) Annotate this Case US Court of Appeals for the Tenth Circuit - 208 F.2d 777 (10th Cir. Doing a bread spot, he said, For the breast in bed . Between the time the Oklahoma City plant was acquired and April 30, 1958, petitioner, in fact, lost $423,644.89 in connection with its operation. Filed: 1955-01-31 . Helvering v. Nat. Many cheeses have been coated in ash to enhance flavor and add a smoky undertone, but this is the first time that charcoal has been fully incorporated into a cheese. Of the 711 students enrolled in the school, 4 had their own cars. Opinion for Mead's Fine Bread Co. v. Moore, 208 F.2d 777 Brought to you by Free Law Project, a non-profit dedicated to creating high quality open legal information. 2d 145, 1954 U.S. LEXIS 2742 Brought to you by Free Law Project, a non-profit dedicated to creating high quality open legal information. Feb 2018 - Present5 years 1 month. Moreover, petitioner has failed to prove that the amounts advanced to Angus during such years would not have been available to distribute to its shareholders as dividends. Petitioner contends that for purposes of computing this credit it is permitted to consider the needs of Angus, even though Angus may not have been actually engaged in any business, in determining the reasonable needs of the business of the group. Abilene Library Consortium These corporations purchase their flour and bread wrappers as a unit. I can feel the current moving down the line. Section 1.1502-31(a)(19)(i), Income Tax Regs. 121. Petitioner's total accounts receivable in 1956 were $487,000 as compared to $730,000 in 1959. as well as independent and professional researchers. (https://caselaw.findlaw.com/us-supreme-court/348/115.html - United States Supreme Court, MOORE v. MEAD'S FINE BREAD CO.(1954)), Home|Articles| These jingles ran on Wichita Falls radio, and TV in the late 1950's and into the 1960's. Mead's Bakery was founded in 1918 by J.H. However, investment by a corporation of its earnings and profits in stock and securities of another corporation is not, of itself, to be regarded as employment of the earnings and profits in its business. Rehearing Denied Jan. 31, 1955. Sign up for our periodic e-mail newsletter, and get news about our Meads Quartet didnt need all that support system. . Mead's fine bread company is a New Mexico Foreign Profit Corporation filed On November 21, 1949. Texas Lege Watch: A House Republican Fights for Chicken Freedom, Texas Monthly Recognized by ASME in the 2023 National Magazine Awards. More information about this photograph can be viewed below. consistently emphasize the unreasonably low prices and the predatory intent of the defendants." See 348 U.S. 932, 75 S.Ct. Thus, to the extent petitioner was able to make these advances to Angus, such funds were not required for use in petitioner's business. We have set forth in our Findings of Fact with some degree of particularity the various factors which petitioner claims caused it to retain all of its earnings during this period. We also provide In 1955, petitioner had 1,037 employees. Mead's Fine Bread Co., 348 U.S. 115 , where such pricing was held violative of 2 (a). In connection with its acquistion on May 1, 1955, of the four predecessor corporations, petitioner acquired the Angus stock, which had previously been owned by one of the predecessor corporations (hereinafter referred to as El Paso). When the war was over I returned to college and, despite the GI bill, the need for extra income arose. In order to obtain these loans, it was required (1) to give a chattel mortgage on all of its trucks and baking equipment, and (2) to agree that it would not acquire or construct any additional bakeries or related buildings or facilities without prior permission from the banks. Lalvin EC-1118. An encased cent in n aluminum loaf of bread. try Mrs. Bairds. Or was that a legend? MEAD, BILL O. 145 L. L. MOORE, Petitioner, v. MEAD'S FINE BREAD COMPANY, a Corporation. The respondent determined deficiencies in petitioner's income tax, as follows: Respondent made a number of adjustments in petitioner's taxable income for each of the years in question, which adjustments petitioner has conceded. United States Court of Appeals Tenth Circuit. Will the Circle Be Unbroken, The Great Speckled Bird, and Farther Along got a fair amount of air time on a New York gospel station. MEAD'S FINE BREAD COMPANY Company Number 244244 Status Voluntary Dissolution Incorporation Date 17 August 1946 (over 76 years ago) Company Type Domestic Profit Corporation Jurisdiction New Mexico (US) Registry Page https://portal.sos.state.nm.us/BFS/on. Development costs for the new route, including additional consumption of supervisor time and more stale, unsold bread to be picked up from the stores on the route, result in losses of approximately an additional $5,000 per route for the first year of operation. As reserve against this contingency, petitioner purchased in 1956 securities consisting of U. S. Government bonds, Series F, at a cost of $17,031.11 and common stock in the First State Bank of Amarillo at a cost of $5,100. Mead and Faye Pauline Mead in Abilene, Texas and died April 17, 2006 in Dallas, Texas after a long battle with prostate cancer. Basic information for referencing this web page. (https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/: In 1950, petitioner's four predecessor corporations employed a total of 524 persons. Petitioner during the years involved herein also had definite plans for diversification into the business of manufacturing and distributing potato chips and frozen baked products. Commissioner v. Cummings [35-2 USTC 9383], 77 F.2d 670 (C. A. 6, 1955), certiorari denied 351 U.S. 939 (1956). The radio studios were atop the Hilton Hotel, twelfth floor. Telephone to Glory. Get free access to the complete judgment in MOORE v. MEAD'S FINE BREAD CO on CaseMine. In the forties I rose to Abilene-wide fame as a singer on a radio gospel show. To my left was a French horn, behind me was a street drum, and on Normans right were two saxophones, one a soprano. Research the case of Mead's Fine Bread Co. v. Moore, from the Tenth Circuit, 12-11-1953. 334. . Without that $6 each week I couldnt have gone to college. The Portal to Texas History, . I put together the group: Norman was back; also Jimmy, the first tenor; Big Jim, another radio golden-throat, was our baritone; and I was the bass. Mead's Fine Bread Company - New Mexico business overview: agent, contacts, address, registration date, reports and more. Substantially all of the expenses claimed by Angus represented deductions for interest, depreciation, taxes, and insurance. Mead's Frozen Foods, Inc., was organized to permit petitioner to enter into this line of business without violating the restrictive covenants of the Penn Mutual loan. Their paths into bakery leadership differed, but together they formed a powerful team that built the second largest bakery in the U.S. during the 1980s. There was little desire to wallow or linger in her former husband's company, and her heart was still heavy despite her peace with the Tarni- with Elia. At the time petitioner acquired the stock of Angus in connection with the May, 1, 1955, reorganization, petitioner's management decided to discontinue Angus' cattle raising activities because they constituted too great a drain on petitioner's working capital. Thus, for the period during which the Penn Mutual loan was outstanding, the only means by which petitioner could finance the acquisition of new plants, diversification into new lines of business, or the purchase of equipment to any substantial extent was by the retention of earnings. In 1941, he formed his own bakery, Meads Fine Bread, in Lubbock, Texas, adding three other bakery locations in New Mexico and a frozen dough factory in Abilene. Each year Mead produces more than 1.5 million tons of paperboard and the company is an industry leader in coated paperboard, containerboard, and multiple packaging. They had a competitor in Santa Rosa, Texas, and Mead's cut the price of their bread from 14 to 7¢. While working as program director at station KCUL Photographed By Craig Doda, May 11, 2020 2. MEAD'S FINE BREAD COMPANY, a Corporation: Docket Number: No. 1055 (1927), affd. Doc was a lay preacher, and he often took us with him when he addressed a church in some town like Nugent or Lueders. Ed V. Mead repaid the amount loaned to him by petitioner during its fiscal year ended April 30, 1958. I night-managed a drive-in cafe right up to the week before graduation. Mead's Fine Bread operated in Texas and New Mexico. Rich in sea salt and amino acids, our formula instantly lifts limp hair from the roots, while Fo-Ti and hydrolyzed rice protein improve hair growth and density in the long term. Mead's Fine Bread Co. v. Moore, Court Case No. This was done so as to prevent a technical violation of a covenant in the Penn Mutual loan agreement. This amount would not have been sufficient to enable petitioner to conduct its operations for one day. Funerals became an almost weekly ritual. section 1.537-2(c)(1), Income Tax Regs.) No. These factors include petitioner's plans and efforts: (1) To acquire additional bakery plants; (2) to diversify into new fields, such as the production and wholesale distribution of potato chips, frozen baked goods and related products; (3) to purchase new equipment for its baking plants, including automated equipment for 10 of its plants; (4) to create a reserve against losses due to labor disputes; and (5) to increase its surplus to cope with the trend in the baking industry of extending more credit to customers and longer receivables. Petitioner was engaged in a purely intrastate bakery business. Mead and his four sons. 886, 895 (N. D. Okla. 1947), affd. At all times relevant hereto, it was contemplated that petitioner would acquire the stock of Mead Co., Inc., after it had either paid or refinanced the loan from Penn Mutual. I had worked my way up to my own special solo, Only in Thee (Pleasures of earth, so seemingly sweet,/Fail at the last my longings to meet), when World War II broke up Meads Quartet. Creation Date: Unknown. Although Meads Quartet never reached the point of commanding a fee for public performances, it was in demand for revivals, special appearances, and funerals. To the work! Leagle.com reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions. Music has always had more effect on my emotions than the spoken word. The related events are co-sponsored by the Fine Arts Department, the Theater and Dance Department, and the Women's and Gender Studies Department. And what a choir! Our guide for the night met us and slipped us in through the back door, seating us on the front row of the choir. A few weeks later I joined the Navy. The regular bassa "grown man," as I thought of ithad been. MEAD'S FINE BREAD CO on CaseMine. photograph Petitioner's position in response to this is that Angus was, during these years, engaged in the business of farming and raising cattle and that this was stipulated to by respondent. N. E. 8th (Amarillo Blvd.) These corporations purchase their flour and bread wrappers as a unit. When it started I saw why. The regular bassa grown man, as I thought of ithad been transferred out of town, and someone had to fill in quick. and Mr. Mead (1919-2006) started after high school as a bread route salesman for the Abilene, Texas bakery owned by his father and uncle. photograph BILL MEAD OBITUARY. Immediately prior to petitioner's absorption of the four predecessor corporations, Angus possessed a herd of 100 breeding cows and a one-half interest in a prize stud bull. The cases linked on your profile facilitate Casemine's artificial intelligence engine in recommending you to potential clients who might be interested in availing your services for similar . Starting out originally as a sole proprietorship and later conducting their business in the form of the four predecessor corporations which petitioner absorbed in 1955, the Meads acquired 21 bakery plants between 1938 and May 1, 1955. standards, project requests, and our services. Lane were chairman, CEO and president of The Earthgrains Co. (previously Campbell Taggart, Inc. and today part of Bimbo Bakeries USA), Dallas, Texas. We were too good. Mead Service Co., 10 Cir., 184 F.2d 338, on appeal from a judgment of the trial court dismissing the action, . [48-2 USTC 9346] 169 F.2d 186 (C. A. By His counsels guide, uphold you, With His sheep securely fold you; God be with you till we meet again! After I added the thyme, ham and sour cream, my husband declared, "This is it!". Featured Shops . Rehearing Denied Jan. 31, 1955. Although petitioner acquired a plant site in Tucson on March 13, 1958, it later abandoned the project after the years in issue because a competitor that already serviced that market announced that it was opening a plant in Tucson. But it wasnt the same. The company's filing status is listed as Existence Expired and its File Number is 256123. The yeast I used fermented the mead to dry and still had a much higher alcohol tolerance. Their families describe them as proud Texans and leaders in their home and church communities. If one corporation owns the stock of another corporation and, in effect, operates the other corporation, the business of the latter corporation may be considered in substance, although not in legal form, the business of the first corporation. December 6, 1954, the United States Supreme Court found that Mead's Fine Bread was in violation 2 of the Clayton Act and 3 of the Robinson-Patman Act this was a Landmark case in interstate competition. Petitioner sold its stock in First State Bank of Amarillo on August 20, 1959, for $251,650, realizing a gain of $138,430, and used a portion of these proceeds to pay these amounts. Some clever perspective design shows the end of the loaf as well as the side. Researchers, educators, and students may find this photograph useful in their work. We sang the Navy hymn while the chaplain intoned Crossing the Bar, and it was so successful that station WCAU recorded it and played it several times that evening. As noted above, the parties stipulated that Angus, during the years in issue, was engaged in the agricultural and livestock business. 4615_1 in the Court of Appeals for the Tenth Circuit. endowment God be with you till we meet again! Frankly, being a hymn singer didnt cut much rank in the U.S. Navy. section 1.537-2(c)(4), Income Tax Regs. The encasement material is the traditional aluminum and is the thickness of a cent. Thus, to the extent the stipulation of facts in this proceeding provides that Angus was engaged in the agricultural and livestock business during the years in issue, it is hereby set aside. They reported taxable income thereon which put them in tax brackets of 53 percent, 56 percent and 56 percent for these years. When we wanted to bring em to their knees, we did The Old Rugged Cross. We sang the first verse in close harmony, with just a little piano (On a hill far away stood an old rugged cross). about this topic here. Mr. Justice DOUGLAS delivered the opinion of the Court. Helpful links in machine-readable formats. Section 537. In 1954 the company was sued by a competitor The Moore Bakery. Dates and time periods associated with this photograph. Mr. Mead served on numerous bank boards, on the White House Restoration Committee during the Carter Administration, was president and board member of the Billy Graham Association Foundation and helped found Christian Men, Inc. Mr. Lane served on a number of bank boards, and those of the Grocery Manufacturers Association, of Texas A&M University and the Dallas Chamber of Commerce. 20, 1948 (These corporations will hereinafter sometimes be referred to as the predecessor corporations.) It never failed. Date Unknown; Request UpdateGet E-Mail Alerts Text Citations (65) Cited By (4) 208F.2d777 MEAD'S FINE BREAD CO. v. Since petitioner did not submit a statement of grounds in response to the notification sent by respondent pursuant to section 534(b), petitioner must bear the burden of proving that all or any part of its earnings and profits has not been permitted to accumulate beyond the reasonable needs of its business. Earnings and profits of the first corporation put into the second corporation through the purchase of stock or securities or otherwise, may, if a subsidiary relationship is established, constitute employment of the earnings and profits in its own business.
mead's fine bread company
mead's fine bread company
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