mead's fine bread company

As of April 30, 1956, these amounted to $150,000. Decision Date: 16 January 1954: 208 F.2d 777 (1953) MEAD'S FINE BREAD CO. v. MOORE. Mead's Fine Bread Co., 348 U.S. 115, 75 S.Ct. standards, project requests, and our services. He was born February 7, 1932 to N.B. During the years in issue petitioner had definite plans for the acquisition of additional bakeries and for diversification into related businesses. Argued Nov. 17, 1954. Between May 1, 1955, and April 30, 1956, it added some 41 new delivery routes to service Oklahoma City, Ada, and Tulsa, Oklahoma. Similarly, petitioner carries on its books a liability in the amount of $100,716 to Ed V. Mead for stock he transferred to petitioner on September 14, 1961, in Mead Co., Inc. During the years in issue petitioner owned 98 percent of the outstanding stock in Mead's Angus Mesa, Inc. (hereinafter referred to as Angus). It boosts volume, adds texture, and promotes growth. a digital repository hosted by the Rands, Inc. [Dec. 9491], 34 B. T. A. https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/. This amount would have been insufficient to enable petitioner to conduct its operations for one day. Bill Mack: Shamrock's Midnight Cowboy Marker in Ft. Worth, Mack became the announcer for the great Bob Wills. Some of the facts have been stipulated, and the stipulations of facts, together with the exhibits attached thereto, are incorporated herein by this reference. For the Tucson plant, it had estimated construction cost of $100,000 and costs for equipping the plant of $250,000. Citations are also linked in the body of the Featured Case. Accordingly, the buildings required special wiring and plumbing, oversized loading platforms, and various other unique features. 1922); Henry P. White [Dec. 20,611], 23 T.C. This corporate entity was filed approximately seventy-four years ago on Tuesday, November 8, 1949 , according to public records filed with Texas Secretary of State. [Mead's Fine Bread Company] Description Copy slide of a photograph of the exterior of Mead's Fine Bread company building with a horizontal line of Mead's delivery trucks visible by the curb outside the building. photograph He was a one of a kind true hero to all his family and friends. Forrest Wilder writes about politics and the outdoors. Filed: 1955-01-31 . This photograph's creation, acceptance, or submission date is unknown. He was a graduate of Abilene High School and began a career as bread route salesman for his father and uncle's bakery in Abilene. Moreover, the business of one corporation does not include the business of another corporation if such other corporation is a personal holding company, an investment company, or a corporation not engaged in the active conduct of a trade or business. My taste buds may have been a bit off, but a couple of the dishes came across as too salty or surprisingly sour to me. Although the record leaves us unconvinced that Angus at any time ever entertained an expectation that its cattle raising activities would be profitable, it is clear that when petitioner acquired Angus, no such expectation existed. As a direct result of these negotiations, petitioner did, in fact, purchase 4 of these plants, as follows: In addition to its plans for purchasing additional bakery plants during the years herein involved, petitioner also had specific plans for constructing new plants in Tucson, Arizona, and Ada, Oklahoma. Physical Description 1 photograph : positive, col. ; 35 mm. 145 L. L. MOORE, Petitioner, v. MEAD'S FINE BREAD COMPANY, a Corporation. Over the years, the Mead brothers and their families split up the operations. More information about this photograph can be viewed below. Check out our Resources for Educators Site! The encasement is approximately 2 inches wide by 1 at its tallest point. To Join the "Encased Collectors" Email List email me: Please visit the Numismatic sites below for additional information on coin collecting. 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 . The estimated average cost of purchasing and installing the necessary equipment was $150,000 per plant. Prior to the fine, Meads Bakery produced bread, rolls and pastry items for small retailers throughout Luton and surrounding counties. New Mexico company code: 268904. Get free access to the complete judgment in MOORE v. MEAD'S FINE BREAD CO on CaseMine. In determining whether petitioner's accumulations of earnings and profits in the years before us were within the reasonable needs of its business, we first must consider whether prior accumulations were, in fact, sufficient to meet petitioner's needs during the period in issue. Mead and his four sons. photograph Mr. Mead (1919-2006) started after high school as a bread route salesman for the Abilene, Texas bakery owned by his father and uncle. 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. Sat Mar 04 2023 at 09:00 am Reach Day. Petitioner's management had estimated during the years in issue that trade accounts receivable would increase between 20 and 25 percent per year. 15 (1947); and World Pub. Normally, where one corporation owns 80 percent or more of the stock of another corporation, it may accumulate earnings to meet the subsidiary's need for funds. Mead's fine bread company is a New Mexico Foreign Profit Corporation filed On November 21, 1949. crediting McMurry University Library. Big Jim directed us, and I wrote the scripts, which consisted of brief spoken introductions to the hymns, things like From the little church just around the corner of your heart comes . Thus, the use of such new products and devices required petitioner to spend substantial amounts for advertising and new equipment such as pans and other machinery. Do they still sing The Old Rugged Cross? Mead's Fine Bread Co. v. Moore AppealCourt of Appeals for the Tenth Circuit, Case No. 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. --- Decided: Dec 6, 1954 See 348 U.S. 932, 75 S.Ct. 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. Thereafter, Angus' sole activity, aside from renting the home on its farm to Ed V. Mead and selling off unneeded equipment, was to lease, on a share crop basis, a portion of its land for the cultivation of hay. Follow the links below to find similar items on the Portal. When petitioner purchased E. P. Mead's stock in Mead's Frozen Foods, Inc., and Bakers Merchandise Company, Inc., on September 14, 1961, a portion of the purchase price, $113,564.78 was carried in petitioner's books as a debt to E. P. Mead. When the war was over I returned to college and, despite the GI bill, the need for extra income arose. TIN: 15910281227. Frankly, being a hymn singer didnt cut much rank in the U.S. Navy. Under the present statutory provisions dealing with the accumulated earnings tax, unless petitioner can prove to the contrary by a preponderance of the evidence, the very fact that its earnings and profits were permitted to accumulate beyond the reasonable needs of its business is determinative of the proscribed purpose. When the case was first here, Moore v. Mead Service Co., 10 Cir., 184 F.2d 338, on appeal from a judgment of the trial court dismissing the . 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. . Fills my evry longing, Keeps me singing as I go. Section 532. When the quartet gave up after Kneel at the Cross, the band played onto the clapping of the crowd. Angus was organized by El Paso on August 12, 1953, to engage in raising and breeding an elite show herd of Aberdeen Angus cattle. United States Tax Court.https://leagle.com/images/logo.png. The acquisition of the 14 plants by the predecessor corporations between 1946 and May 1, 1955, had depleted their earnings and adversely affected their ability to add to and replace equipment during the period from 1946 to 1955. Included among these factors are: (1) Petitioner's advances on open account to Mead Industries, Inc. (cf. Although a portion of petitioner's sales was on a cash basis, an increasing number were being made on credit, either on weekly or 30-day payment terms. In part, these time deposits were held as to reserve for the contingent tax liability. Thus, it was forced to borrow funds to obtain the requisite working capital. Mead's Fine Bread Co. v. Moore, Court Case No. Sick bucks a week. Real Good Kitchen is a shared kitchen community that provides food entrepreneurs with the equipment, production space and resources they need . About the Producer One of the most highly awarded bakeries in Italy, established in 2005 in Veneto, specialising in an artisan range of sweet and . And dont laugh at the size of the check. An encased cent in n aluminum loaf of bread. See 348 U.S. 932, 75 S.Ct. Hope Toole, Muscle Shoals, Alabama. In fact, the orchestra didnt want to quit. 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. We were too good. Subsequently, the Court noted that " the decisions of the federal courts in primary-line-competition cases . Leagle.com reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions. Of the 711 students enrolled in the school, 4 had their own cars. The Portal to Texas History, Obverse reads: "Mead's Fine Bread" The encasement has wrapper lines on the right end to give it a 3-D look. 121 Argued November 17, 1954 Decided December 6, 1954 348 U.S. 115 CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE TENTH CIRCUIT Syllabus Petitioner sued respondent for treble damages for violations of 2 of the Clayton Act and 3 of the Robinson-Patman Act. By His counsels guide, uphold you, With His sheep securely fold you; God be with you till we meet again! MEAD'S FINE BREAD COMPANY is a New Mexico Foreign Profit Corporation filed on November 21, 1949. But I looked at it as $4.80 an hour. The next autumn, the quartet regrouped (it had disbanded for the summer), and Fred asked the a cappella director at the college to please send him down a good bass. In 1949 the El Paso and Albuquerque plants were closed because of strikes. It also distributes school and office supplies made by Mead and other companies and has . During this same period, Ed V. Mead filed joint returns with his wife, Elizabeth Mead. 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. Therefore, we conclude that the advances on open account to Angus during petitioner's taxable years 1956 through 1958 represent unreasonable accumulations of surplus. collections, new partnerships, information on research, trivia, I left the fundamentalists years and years gone by and became a Presbyterian in a big church with a paid choir whose members would die of embarrassment if you suggested they sing something as awful as Power in the Blood or Whispering Hope. Sure, a lot of the hymns we sang were composed by people like Handel, Bach, Haydn, Beethoven, Mendelssohn, and Weber: We would see Jesus, for the shadows lengthen/Across the little landscape of our life, My Jesus, as Thou wilt, tho seen through many a tear,/Let not my star of hope grow dim, or disappear. But subtle and lovely as those are, the ones I remember with greatest fondness are the passionate old blood-boilers, the ones that had to do more with tears and toil than balm and bliss. 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. The principal issue remaining for decision is whether petitioner is subject to tax under section 5311 with respect to all or any part of the earnings retained by it in any of the years involved herein. Neither petitioner nor any of the predecessor corporations paid a taxable dividend throughout their respective existences. Mead and his four sons. Mr. Lane (1924-2000), an Army veteran and graduate of Texas A&M University, joined the Campbell Taggart accounting department in 1947. To learn more about cookies and how ASB uses them please visit our Privacy Policy page. standards, project requests, and our services. If your yeast has reached its alcohol tolerance this probably wouldn't work. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. University of North Texas Libraries, The Portal to Texas History, View a full description of this photograph, Brightness, Contrast, etc. There is only one bread shape that I know about and that is the Mead's Fine Bread encased. In 1958 they consolidated the company. Book now at Grape Vine Cafe - Buffalo & Lake Mead in Las Vegas, NV. In 1941, he formed his own bakery, Mead's Fine Bread, in Lubbock, Texas, adding three other bakery locations in New Mexico and a frozen dough factory in Abilene. about this topic here. MEAD, BILL O. (3) Loans to another corporation, the business of which is not that of the taxpayer corporation, if the capital stock of such other corporation is owned, directly or indirectly, by the shareholder or shareholders of the taxpayer corporation and such shareholder or shareholders are in control of both corporations. Although petitioner experienced no strike or other such work stoppage in any of its plants between 1950 and 1959, losses due to such disputes were a reasonable factor for petitioner's management to consider. Another reason was to create a reserve against losses that might be incurred in connection with possible labor disputes. I never sang much after I got out of college. Section 1.1502-31(a)(19)(i), Income Tax Regs. Mead's Fine Bread operated in Texas and New Mexico. God Be With You Closing theme of Meads Quartet. Like most kids in that time he enjoyed fishing, playing in the creek and playing catch with his older brother, Billy B., who later played in the minor leagues. The Secretary of the Navy died, and the captain ordered a memorial servicewith one days assembly time. is part of the collection entitled: The Premanands were fined a total of about $60,670 (38,000) plus council costs and a banning order that effectively prevents them from ever managing a food business again. Once, in Philadelphia, I enjoyed a comeback. and at Hobbs, Roswell, and Clovis, New Mexico. Meads Fine Bread Co., his competitor, engaged in an interstate business. Our theme song was bouncy: Theres within my heart a melody . Mr. Mead (1919-2006) started after high school as a bread route salesman for the Abilene, Texas bakery owned by his father and uncle. A naturally leavened artisan fruited bread with sweet bites of peach and semi-candied apricot complemented by the fragrance of lavender. 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. The executives invested substantially in new technology to open new markets, specifically taking pan variety bread to national distribution. available in multiple sizes, descriptive and downloadable metadata available in other formats, United States - Texas - Taylor County - Abilene, /ark:/67531/metapth1165909/metadata.untl.xml, /ark:/67531/metapth1165909/metadata.dc.rdf, /ark:/67531/metapth1165909/metadata.dc.xml, /oai/?verb=GetRecord&metadataPrefix=oai_dc&identifier=info:ark/67531/metapth1165909, /ark:/67531/metapth1165909/metadata.mets.xml, /ark:/67531/metapth1165909/opensearch.xml, /stats/stats.json?ark=ark:/67531/metapth1165909, https://texashistory.unt.edu/ark:/67531/metapth1165909/. . collections, new partnerships, information on research, trivia, The ultimate issue for our decision is whether petitioner was availed of during its fiscal years ended April 30, 1956, through April 30, 1958, for the purpose of avoiding income taxes with respect to its shareholders by permitting its earnings and profits to accumulate instead of being divided or distributed. But he was a good sport. This truly unique cheese is made with charcoal from the Featherstone mines in Yorkshire mixed with a wonderfully creamy mature wax coated cheddar. Pursuant to section 537, the term "reasonable needs of the business" includes the reasonably anticipated needs of the business. They encouraged their associates to participate as speakers and officers of the American Society of Baking. I tell you, not a dry eye in the house. Researchers, educators, and students may find this photograph useful in their work. 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. PO Box 130967, Tyler, TX 75713. 297, 304 (1952), reversed on another issue [55-1 USTC 9110] 217 F.2d 329 (C. A. Fred nearly cried when I walked into the studio. We do not believe that this is a correct interpretation of the applicable regulations. Discover clat Men's Volumizing Texture Spray. Food is delicious. Was born December 22, 1919 to W.L. Fermented Cider Beer Wine Sake Soda Mead Kefir And Kombucha At Home Emma Christensen Pdf File Free True Brews True Brews The Everything Hard Cider Book The Big Book of Cidermaking Craft Cider Making The Everything Hard Cider Book The Joy of Brewing Cider, Mead, and Herbal Wine The New Cider Maker's Handbook Tasting Cider Modern Cider Making the . 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. His signature on the check didnt mean that FDRs son had been born again. He controlled the station I sang for. Because of the aforementioned restrictions in the Penn Mutual loan agreement, petitioner was prevented during the years in issue from directly entering such new lines of business. In 1954 the company was sued by a competitor The Moore Bakery. (Howard F. Houk, Santa Fe, N. M., was with him on the brief), for appellant. Lane were chairman, CEO and president of The Earthgrains Co. (previously Campbell Taggart, Inc. and today part of Bimbo Bakeries USA), Dallas, Texas. Finally, any dividends distributed to either of the controlling shareholders (except E. P. Mead in 1956) would have been subject to tax at a rate of more than 50 percent. 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. extended guidance on usage rights, references, copying or embedding. 121. extended guidance on usage rights, references, copying or embedding. Varieties|Coin Links|About| to . and Log In. Notes [ edit] His business was wholly intrastate. It also believed that since the consumption of refrigerated biscuits directly cut into the bread market, it should expand into the biscuit business to protect its share of the market. The best restaurants in town were located along "The Main Street of America" in the '60s. large collection of U.S. government documents. 6, 1929), certiorari denied 280 U.S. 588 (1929); John A. Nelson Co. v. Commissioner [35-1 USTC 9164], 75 F.2d 696, 697 (C. A. [Mead's Fine Bread Company], Aside from the tenant farmer, Angus had no employee during the years in issue. Substantially all of the expenses claimed by Angus represented deductions for interest, depreciation, taxes, and insurance. 145, where such pricing was held violative of 2(a). Here are some suggestions for what to do next. When it started I saw why. . (1954) - Free download as PDF File (.pdf) or read online for free. The major portion of this amount consisted of $281,000 representing proceeds from the Penn Mutual loan. See section 1.535-3(b)(ii), Income Tax Regs. It never failed. However, the evidence petitioner presented as to the specific amount of these needs is somewhat inconclusive. The number of companies that we have information about in our database: 442,383+ NewMexicoEnterprise.com M ME MEA BILL MEAD OBITUARY. William Ernest Seatree [Dec. 7413], 25 B. T. A. Thus, for example, in March 1955, shortly before the reorganization occurred, one of the predecessor corporations acquired a large bakery plant in Oklahoma City, Oklahoma. We had some touching arrangements for the lovelier songsI broke up many a time as we hummed under a tenor solo (Sweet hour of prayer, sweet hour of prayer,/Thy wings shall my petition bear) or sang What a Friend We Have in Jesus., So many of those old hymns were laboring songs: Work for the Night Is Coming, To the work! Before we went on the air he would hold his nose and mutter things like How now, brown cow in order to get his voice tone down. Find many great new & used options and get the best deals for Vintage Advertising Lot; Mead's Fine Bread;Purina;Rook;Press on Tape and More at the best online prices at eBay! Helpful links in machine-readable formats. Had professional backup: steel, drums, amped lead and bass, acoustic rhythm, Autoharp, and an absolutely wonderful Baptist Sunday school piano. 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. However, because of our finding that a portion of its earnings and profits were accumulated to meet the reasonable needs of its business during its taxable years ended April 30, 1957 and 1958, petitioner is entitled to a consolidated accumulated earnings tax credit based upon such finding. Their families describe them as proud Texans and leaders in their home and church communities. Reserved Copyright Bruce Perdue. We have found that petitioner in each of the years before us accumulated a portion of its earnings beyond the reasonable needs of its business. 20, 1948 (These corporations will hereinafter sometimes be referred to as the predecessor corporations.) In 1959, he merged that business with Campbell Taggart, and a few years later, he became chairman and CEO of the company. Moreover, although petitioner's four-week cash balance for its fiscal year ended April 30, 1956, was $360,283.37, the major portion of this amount consisted of loan proceeds, namely, $281,000 borrowed from The Penn Mutual Life Insurance Company on February 1, 1956. Petitioner filed its returns with Angus on a consolidated basis. If you fill out the first name, last name, or agree to terms fields, you will NOT be added to the newsletter list. This photograph is part of the following collections of related materials. The Mead Corporation. The encasement material is the traditional aluminum and is the thickness of a cent. The cattle were sold at auction in October 1955. Bring on the Shiplap? Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. In fact, as September 1940 approached I faced zero possibilities of advanced schooling. Real Good Kitchen. 10, 1948), certiorari denied 335 U.S. 911 (1949). See 348 U.S. 932, 75S.Ct. Refrigerator Parts & Accessories. [61-2 USTC 9562] 292 F.2d 470 (C. A. Thu Mar 30 2023 at 10:30 am Mid-week S&B. Panera Bread (2516 Aloma Avenue, Winter Park, FL) . Thereafter the sole activity engaged in by Angus, aside from leasing the home on its farm to Ed V. Mead and selling unneeded equipment, was to lease, on a share crop basis, a portion of its land for the cultivation of hay. accessed March 4, 2023), Doc admitted he had a tin ear, but since he paid the freight, his recommendation wrote the ticket. This is an appeal from a verdict and judgment in favor of the plaintiff-appellee in an action for treble damages under the Robinson-Patman Amendment to the Clayton Act, 15 U.S.C.A. Petitioner actually converted two of its plants in 1961 and another in 1962, at an aggregate cost of $451,125.32. It had been contemplated that petitioner would acquire direct control of this business when it was free of the conditions imposed by said loan agreement. The company's mailing address is None Given, None Given, TX 00000. Mead's Fine Bread Co., 348 U.S. 115 , where such pricing was held violative of 2 (a). Creation Date: Unknown. True, I had been given a work concession by Abilene Christian College, where I was enrolled, but it was for only $20, which not only didnt cover tuition but didnt cover food, shelter, clothing, or bus fare. As we arived, we could hear the service going on two blocks from the church house. This We took requests, although most of the cards and letters asked for the jingly kind of quartet songs, which Fred disapproved of. And TommyI wonder what did happen to Tommy? Mrs. Claude M., Baird, Texas.. It maintains its books and records and files its Federal income tax returns on the basis of a fiscal year ended April 30.