mead's fine bread company

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. The amount of the receivable was paid by E. P. Mead on October 16, 1958. 15 (1947); and World Pub. God be with you till we meet again! Petitioner's stock was then distributed to the stockholders of the predecessor corporations. On September 14, 1961, after petitioner obtained a loan of $1,350,000 from Republic National Bank of Dallas and repaid the Penn Mutual loan, it purchased from E. P. Mead and Ed V. Mead, at their cost, all of the outstanding stock in Mead Co., Inc., for $402,863.62. Because it had a bass lead, he even let us do Have a Little Talk With Jesus, and with his high tenor, Fred got to swinging the song more than any of us. As noted above, the parties stipulated that Angus, during the years in issue, was engaged in the agricultural and livestock business. MEAD'S FINE BREAD COMPANY, a Corporation. One such factor is the rapid growth of the four predecessor corporations between October 1946 and May 1, 1955, whereby they acquired 14 additional plants and doubled their number of employees. Research the case of Mead's Fine Bread Co. v. Moore, from the Tenth Circuit, 12-11-1953. To Join the "Encased Collectors" Email List email me: Please visit the Numismatic sites below for additional information on coin collecting. Included among these factors are: (1) Petitioner's advances on open account to Mead Industries, Inc. (cf. These controls are experimental and have not yet been optimized for user experience. During this same period, Ed V. Mead filed joint returns with his wife, Elizabeth Mead. UNT's history and scholarship, library special collections, plus a Petitioner was engaged in a purely intrastate bakery business. Substantially all of the expenses claimed by Angus represented deductions for interest, depreciation, taxes, and insurance. Petitioner was engaged in a purely intrastate bakery business. I thought I had it made as a singing swabbie. 334. The Secretary of the Navy died, and the captain ordered a memorial servicewith one days assembly time. To learn more about cookies and how ASB uses them please visit our Privacy Policy page. 'I came back, I played a . Mead's Fine Bread" The bread company was known for its radio jingles, one of which was written and sung by well-known disc jockey Bill Mack. As previously indicated, during the years in issue, petitioner steadily expanded its activities in the bakery business. Cf. Reverse of the loaf of bread encased cent. For partners and peer institutions seeking information about 529 (1933), reversed on another issue [36-1 USTC 9019] 296 U.S. 374 (1935); McClintock-Trunkey Co. [Dec. 19,316], 19 T.C. section 1.537-2 (c)(3), Income Tax Regs. See 348 U.S. 932, 75 S.Ct. In the forties I rose to Abilene-wide fame as a singer on a radio gospel show. The major portion of this amount consisted of $281,000 representing proceeds from the Penn Mutual loan. Trash Compactor Parts & Accessories. Subsequently, the Court noted that 'the decisions of the federal courts in primary-line-competition cases * * * consistently emphasize the unreasonably low prices and the predatory intent of the defendants.' 7, 1935), affirming [Dec. 8135] 28 B. T. A. MEAD'S FINE BREAD COMPANY Company Number 0010084800 Status Voluntarily Dissolved Incorporation Date 8 November 1949 (about 73 years ago) Dissolution Date 29 April 1960 Company Type Domestic For-Profit Corporation Jurisdiction Texas (US) Alternative Names. Mead's Fine Bread Co. v. Moore, Court Case No. William Ernest Seatree [Dec. 7413], 25 B. T. A. Its average cash balance for the four weeks ended March 1, 1956, excluding the Penn Mutual loan from proceeds, was $40,733.86. 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. Mead's Fine Bread Co., 348 U.S. 115, 75 S. Ct. 148, 99 L. Ed. try Mrs. Bairds. Or was that a legend? Lane were chairman, CEO and president of The Earthgrains Co. (previously Campbell Taggart, Inc. and today part of Bimbo Bakeries USA), Dallas, Texas. 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. per curiam [1929 CCH D-9307] 34 F.2d 1022 (C. A. 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. 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. This Mead's fine bread of el paso, inc. is a New Mexico Foreign Profit Corporation filed on March 28, 1948. 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. 90 (1954), affd. Zoom and Pan the map as needed. MEAD, BILL O. 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. There is only one bread shape that I know about and that is the Mead's Fine Bread encased. I can feel the current moving down the line. Although Meads Quartet never reached the point of commanding a fee for public performances, it was in demand for revivals, special appearances, and funerals. It boosts volume, adds texture, and promotes growth. Fred joined the Air Force (and died in the service), and Norman, our second tenor, became an airman too. Bins collections, new partnerships, information on research, trivia, 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. Reverse is blank only showing the reverse of the coin. Basic information for referencing this web page. The boycott gave Moore a complete monopoly of the bread business in Santa Rosa. 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. 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 . . On September 12, 1955, petitioner borrowed a total of $400,000 from two banks. is part of the collection entitled: crediting McMurry University Library. More information about this photograph can be viewed below. Context This During the years in issue petitioner had definite plans for the acquisition of additional bakeries and for diversification into related businesses. These . The Mead Corporation is one of the world's largest manufacturers of paper (producing more than 1.7 million tons each year) pulp, and lumber. We use cookies to ensure that we give you the best experience on our website. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. . Telephone to Glory. No. Although the terms of the Penn Mutual loan were somewhat less stringent than those of the bank loans, nevertheless, petitioner found them confining. . In 1949 the El Paso and Albuquerque plants were closed because of strikes. However, one of the most popular and unusual shapes to collect is the bread loaf shape. As of May 1, 1955, the equipment in many of petitioner's plants was obsolete, worn out, and in need of replacement. 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. Cf. 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. After he left our station he became famous for making one of the classic radio bloopers of all time. 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. was provided by the McMurry University Library Fills my evry longing, Keeps me singing as I go. Rands, Inc. [Dec. 9491], 34 B. T. A. When the young peoples class offered special music at the little church we attended (it had no choir), I was always the bass. Some of the facts have been stipulated, and the stipulations of facts, together with the exhibits attached thereto, are incorporated herein by this reference. Docket Number: No. Thu Mar 30 2023 at 10:30 am Mid-week S&B. Panera Bread (2516 Aloma Avenue, Winter Park, FL) . [Mead's Fine Bread Company] Side: 1 of 1 1 photograph : positive, col. ; 35 mm. Petitioner was unable to borrow from banks on unsecured loans. 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. Similarly, Ed V. Mead, petitioner's vice-president and the son of E. P. Mead, owned approximately 31 percent of petitioner's outstanding stock. A car was out of the question. Sick bucks a week. Log In. God Be With You Closing theme of Meads Quartet. Mrs. Claude M., Baird, Texas.. United States Tax Court.https://leagle.com/images/logo.png. Hope Toole, Muscle Shoals, Alabama. Free delivery for many products. The crowd got quiet. During the years in issue, the course pursued by petitioner with regard to expansion remained the same. Section 533. [4 USTC 1299] 72 F.2d 67 (C. A. D. C. 1934); cf. --- Decided: Dec 6, 1954 See 348 U.S. 932, 75 S.Ct. John Randolph Hopkins [Dec. 17,811], 15 T.C. Mr. Justice DOUGLAS delivered the opinion of the Court. On February 1, 1956, petitioner refinanced them with a $600,000 loan from The Penn Mutual Life Insurance Company (hereinafter referred to as the Penn Mutual loan). However, it may not do so if the subsidiary is a personal holding company, an investment company, or a corporation not engaged in the active conduct of a trade or business. and Florence VanHoozer in the Bethel community east of Lawton, and was one of four kids. (Howard F. Houk, Santa Fe, N. M., was with him on the brief), for appellant. In the period involved herein, petitioner leased a number of warehouses or bakeries occupied by it from Mead's Industries, Inc. E. P. Mead owned 99 percent of the stock of this corporation during the period before us. Petitioner, in the period before us, was faced with contingent liabilities in excess of $385,000 arising because of tax deficiencies asserted against the four corporations absorbed by it, interest thereon, and estimated expenses related thereto, including legal and accounting fees. Angus sustained substantial net operating losses from the year petitioner acquired it until it was disposed of in 1960. as well as independent and professional researchers. In 1959, he merged that business with Campbell Taggart, and a few years later, he became chairman and CEO of the company. Chip Gaines Bought Larry McMurtrys Historic Texas Bookstore. The company's filing status is listed as Existence Expired and its File Number is 256123. No. The Registered Agent on file for this company is Secretary Of State and is located at Executive-Legislative Building, Santa Fe, NM 87503. See Ohio Clover Leaf Dairy Co. [Dec. 3034], 8 B. T. A. I never sang much after I got out of college. Rennala had packed lightly when she departed from Raya Lucaria. Moreover, if the advance had not been made to Angus during the years in issue, there would have been ample earned surplus and ample cash on hand to permit the distribution of a dividend in each of the years involved. Then pointing to section 1.537-3(b), Income Tax Regs.,11 petitioner asserts (1) that since it owned more than 80 percent of the outstanding stock in Angus, the business of Angus should be considered as petitioner's business and (2) that petitioner was entitled to utilize its earnings for the reasonable business needs of its subsidiary, which were to pay various installments of Angus' indebtedness as they became due during the years 1956 through 1958.12 It is petitioner's further contention that even if Angus were not actively engaged in a business, since petitioner filed its returns on a consolidated basis with Angus, it was, nevertheless, entitled to a consolidated accumulated earnings credit, pursuant to section 1.1502-31(a)(19), Income Tax Regs., based on the amount of its earnings retained for the reasonable needs not only of its own business, but also the reasonable needs of its affiliate, Angus. 334. Petitioner has failed to prove that its reasonable business needs during each of the years in question exceeded the amount of earnings retained by it each year, minus the amount advanced to Angus on open account during such year. 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. Encasements for coins take on many different shapes. Accordingly, the buildings required special wiring and plumbing, oversized loading platforms, and various other unique features. These corporations purchase their flour and bread wrappers as a unit. 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. Rehearing Denied Jan. 31, 1955. In 1957 and 1958 it purchased additional stock in this bank at a cost of $16,000 and $38,930. 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. Texas Lege Watch: A House Republican Fights for Chicken Freedom, Texas Monthly Recognized by ASME in the 2023 National Magazine Awards. Once, a dozen years ago, a bunch of us even made an LP of some old gospel swingers. Fred, of course, was gone, and during the war my friend Doc Mead had become not only a big shot in the bakery business but a millionaire. Angus was organized by El Paso on August 12, 1953, to engage in raising and breeding an elite show herd of Aberdeen Angus cattle. Historic newspapers digitized from across the Red River. Between May 1, 1955, and April 30, 1956, it added some 41 new delivery routes to service Oklahoma City, Ada, and Tulsa, Oklahoma. awards, and more. 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. 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. 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. As we arived, we could hear the service going on two blocks from the church house. They foresaw the promise of whole grain breads, ultimately renaming the company after the brand of its market-leading products, Earth Grains. large collection of U.S. government documents. An encased cent in n aluminum loaf of bread. [61-2 USTC 9562] 292 F.2d 470 (C. A. Frankly, being a hymn singer didnt cut much rank in the U.S. Navy. 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. These corporations purchase their flour and bread wrappers as a unit. 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. A tenor named Tommy sometimes substituted for Jimmy, and during one funeral somewhere south of Putnam, Tommy slipped and almost fell into the gravehe couldnt seem to walk and sing at the same time. 4615. 121: Decision Date: 06 December 1954: 348 U.S. 115 75 S.Ct. 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. Helpful links in machine-readable formats. Sewing Notions & Supplies Donald L. Wilson and Kenneth G. Tarlton, for the petitioner. However, the evidence petitioner presented as to the specific amount of these needs is somewhat inconclusive. Thus, in our opinion the amounts advanced to Angus during the period in issue constitute investments unrelated to petitioner's business. One of the first meads ever produced and sold by Enlightenment Wines Meadery . Co. v. United States [47-1 USTC 9280], 72 F.Supp. Geographical information about where this photograph originated or about its content. 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. Read more The regular bassa "grown man," as I thought of ithad been. Petitioner's average four week cash balances for the fiscal year ended April 30, 1956, was $360,283.37. Date Unknown; MEAD'S FINE BREAD COMPANY, a Corporation. Click on the case name to see the full text of the citing case. Between March 7, 1956, and November 14, 1958, petitioner conducted active negotiations to purchase 12 bakery plants, one refrigerated biscuit plant, and one ice cream plant. Several other reasons caused petitioner to retain its earnings in this period. section 1.537-2(c)(4), Income Tax Regs. But he was a good sport. 148 99 L.Ed. Lalvin EC-1118. Once, in Philadelphia, I enjoyed a comeback. 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. There is no known record of who created these encasements for Meads. I promised I had developed enough during the summer so that I could handle bass leads on Seeking the Lost and Lead Me Gently Home, and I could. We've created an The common round shape is well known in several diameters. 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 . 1055 (1927), affd. This was done so as to prevent a technical violation of a covenant in the Penn Mutual loan agreement.