mead's fine bread companymead's fine bread company

During the years in issue petitioner spent a total of approximately $1,400,000 for additions to its existing plants and equipment. 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. And what a choir! 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. Mead's Fine Bread Co. v. Moore, Court Case No. Angus sustained substantial net operating losses from the year petitioner acquired it until it was disposed of in 1960. To the work! The company's filing status is listed as Withdrawal and its File Number is 268904. 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! (Experimental). 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. However, one of the most popular and unusual shapes to collect is the bread loaf shape. 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). Therefore, before we can determine whether, or to what extent, petitioner allowed its earnings and profits during these years to accumulate beyond its reasonable needs, we must consider several factors mentioned by respondent as indicating that petitioner did unreasonably accumulate its earnings. section 1.537-2(c)(3),10 Income Tax Regs. There was a trend in the baking industry toward more credit and larger receivables. 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. K-12 lesson plans, tools, and other help for history teachers. He upped my wages to $7.50. These corporations maintain plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. The encasement material is the traditional aluminum and is the thickness of a cent. Side: collections, new partnerships, information on research, trivia, I hate to admit, even at this distance, that I brazenly pretended it was grief choking us up. 9, 1954); cf. During the Mead-Lane era, the company grew to more than 60 U.S. operating plants, seven bakeries in Spain and related businesses in Puerto Rico, France and Brazil. Petitioner has failed to meet its burden of proof on this ultimate issue. Mead's fine bread company is a New Mexico Foreign Profit Corporation filed On November 21, 1949. Jos R. Ralat is Texas Monthlys taco editor, writing about tacos and Mexican food. Newspaper Page Text PITTSIIIJR.GR,GAZE. Commissioner v. Cummings [35-2 USTC 9383], 77 F.2d 670 (C. A. Mead's Fine Bread Co., 348 U. S. 115 (1954), a case based in part on 3, recognized the applicability of the Robinson-Patman Act to conduct quite similar to that with which National Dairy and Wise are charged here. They sold bread throughout the Southwest. MEAD'S FINE BREAD CO. v. MOORE. (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. bread from mead dregs I've done this several times. 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 . Anderson's Business Law and the Legal Environment, Comprehensive Volume (23rd Edition) Moore ran a bakery in Santa Rosa, New Mexico. large collection of U.S. government documents. Thus, in 1956 petitioner began to set aside a portion of its earnings to effect these plans. 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. Patrons have access to their extensive collections, which include more than one million items through the library and the Abilene Library Consortium. We report on vital issues from politics to education and are the indispensable authority on the Texas scene, covering everything from music to cultural events with insightful recommendations. Book now at Grape Vine Cafe - Buffalo & Lake Mead in Las Vegas, NV. India; UK & Ireland . Respondent points to the fact that as of May 1, 1955, the date of the tax-free reorganization in which petitioner acquired the assets of the four predecessor corporations, petitioner had accumulated earnings totaling $2,058.20.8 However, the mere size of the previously accumulated earnings and profits is not indicative that they are sufficient to cover the future needs of the business. The piece has Mead's fine Bread on the front and the back is plain. Cf. 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. This photograph is part of the following collections of related materials. ART FINE-ARTS. photograph (https://texashistory.unt.edu/ark:/67531/metapth1165909/: It has some wear as to be expected, some paint loss in spots on the bottom cross plate, which only adds to the character! 20, 1948 (These corporations will hereinafter sometimes be referred to as the predecessor corporations.) Petitioner's stock was then distributed to the stockholders of the predecessor corporations. 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. 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. A car was out of the question. This photograph's creation, acceptance, or submission date is unknown. ); (2) the amount of petitioner's securities investments during the years in issue (cf. Pursuant to section 537, the term "reasonable needs of the business" includes the reasonably anticipated needs of the business. During the years in issue petitioner had definite plans for the acquisition of additional bakeries and for diversification into related businesses. Crayola Dymo Elmer's Five Star Mead Paper Mate Pen+Gear Scotch Sharpie Texas Instruments The Happy Planner The Pioneer Woman. I never sang much after I got out of college. Petitioner's books reflected advances on open account to E. P. Mead in the amount of $17,000 as of April 30, 1958, and open account advances to Ed V. Mead in the amount of $9,607.26 as of April 30, 1956, and $8,889.62 as of April 30, 1957. 529 (1933), reversed on another issue [36-1 USTC 9019] 296 U.S. 374 (1935); McClintock-Trunkey Co. [Dec. 19,316], 19 T.C. 334. Mr. Lane (1924-2000), an Army veteran and graduate of Texas A&M University, joined the Campbell Taggart accounting department in 1947. 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 receivable from E. P. Mead was entered on petitioner's records without Mead's knowledge in what essentially was a year-end bookkeeping transaction whereby stock owned by petitioner was transferred to E. P. Mead. Rehearing Denied Jan. 31, 1955. Mead's Fine Bread Co. v. Moore AppealCourt of Appeals for the Tenth Circuit, Case No. 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. For the Tucson plant, it had estimated construction cost of $100,000 and costs for equipping the plant of $250,000. I dont want to leave the impression that Meads Quartet was irreverent or cynical, or that I was. Doc Mead owned Mead's Fine Bread bakery, and Mead's Quartet sang on KRBC for fifteen minutes at noon on weekdays. Section 1.537-3(b), Income Tax Regs. 2, Oct. 28, 1963); Gus Blass Co. [Dec. 15,885], 9 T.C. Petitioner, also on September 14, 1961, purchased from E. P. Mead at his cost, $66,326.94, all of the outstanding stock in Bakers Merchandise Company, Inc., Amarillo, Texas. Order Enlightenment Wines Memento Mori Dandelion Mead 375-ml bottle online from The Lunar Inn & Tinys Bottle Shop. Because of the large growth of population in the cities in which petitioner's principal bakeries were located, new routes had to be continuously developed to meet competition. Citations are also linked in the body of the Featured Case. Doing business as: Mead-Raymond . 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. There is only one bread shape that I know about and that is the Mead's Fine Bread encased. The Registered Agent on file for this company is Secretary Of State and is located at Executive-Legislative Building, Santa Fe, NM 87503. 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. https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/. 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. Some of those which influenced petitioner's management to retain its earnings in order to be able to produce or utilize these innovations were: (1) "Brown and Serve" rolls; (2) "diet bread"; (3) "round bread"; and (4) the use of plastic "end seals" in wrapping loaves of bread. The Supreme Court ruled that this was monopolistic behavior and that as an interstate and intrastate company is was illegal to cut the prices in one town without cutting their prices in all their locations. In 1954 the company was sued by a competitor The Moore Bakery. Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. Abilene Library Consortium and They have continued to increase since that time. It has been viewed 1144 times, with 31 in the last month. 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. 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. and at Hobbs, Roswell, and Clovis, New Mexico. I night-managed a drive-in cafe right up to the week before graduation. 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. On March 21, 1961, respondent, by registered mail and pursuant to section 534, notified petitioner that respondent intended to issue a deficiency notice for the taxable years ended April 30, 1956, through April 30, 1958, based on section 531. Decided Dec. 6, 1954. Shortly after the May 1, 1955, reorganization, petitioner decided that Angus' cattle raising activities constituted too much of a drain on its working capital and that such activities should be terminated immediately and the cattle disposed of as soon as possible. We were too good. Mortgage financing could not be obtained for the installation of these special features, and petitioner found it necessary to advance to Mead Industries, Inc., approximately $80,000 for their installation.5. Historic newspapers digitized from across the Red River. The Meade's Fine Bread commercial became one of the most popular of its time.. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. 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. The first and only black cheese, creamy and mature and mixed with chilli. It is our opinion that, in the computation of the consolidated accumulated earnings credit under section 1.1502-31(a)(19)(i) of the Income Tax Regulations, only the reasonable needs of the operating companies included in the group may be considered. (https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/: All were visually striking. . The design of the encasement is such that the piece looks like a loaf of bread in three dimensions, while only being a two-dimensional object. Creation Date: Unknown. as a primary source within our collections. The common round shape is well known in several diameters. It appears to have been made to use with a key chain as it has a hole at one end. [4 USTC 1299] 72 F.2d 67 (C. A. D. C. 1934); cf. At any rate, his wife, our accompanist, hated hymns, especially our theme song. 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. This Court cannot be bound by stipulations as to law. Count your blessings! Donald L. Wilson and Kenneth G. Tarlton, for the petitioner. Categories: Pharmaceutical . Leave them blank to get signed up. This Everyone prayed individually and out loud. But I looked at it as $4.80 an hour. 334. Included among these factors are: (1) Petitioner's advances on open account to Mead Industries, Inc. (cf. Filed: 1954-01-16 Precedential Status: Precedential Citations: 208 F.2d 777 Docket: 4615_1 This company has not listed any contacts yet. Sign into add some. 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. Ed V. Mead repaid the amount loaned to him by petitioner during its fiscal year ended April 30, 1958. 148, 99 L.Ed. Petitioner in each of the years in issue realized a substantial profit. See Ohio Clover Leaf Dairy Co. [Dec. 3034], 8 B. T. A. Accordingly, the buildings required special wiring and plumbing, oversized loading platforms, and various other unique features. crediting McMurry University Library. Mead's Fine Bread Co., 348 U.S. 115 , where such pricing was held violative of 2 (a). They all market their bread under the name 'Mead's Fine Bread' and promote the product through a common advertising program. 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. Fire Ants Have Unleashed Chaos in Texas for Decades. Doc Mead owned Meads Fine Bread bakery, and Meads Quartet sang on KRBC for fifteen minutes at noon on weekdays. Sick bucks a week. As noted above, the parties stipulated that Angus, during the years in issue, was engaged in the agricultural and livestock business. Mr. Mead (1919-2006) started after high school as a bread route salesman for the Abilene, Texas bakery owned by his father and uncle. 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. They reported taxable income thereon which put them in tax brackets of 53 percent, 56 percent and 56 percent for these years. John Randolph Hopkins [Dec. 17,811], 15 T.C. Section 537. These corporations purchase their flour and bread wrappers as a unit. What responsibilities do I have when using this photograph? An encased cent in n aluminum loaf of bread. Descriptive information to help identify this photograph. Basic information for referencing this web page. The company's filing status is listed as Existence Expired and its File Number is 256123. They alleged that Mead's Fine Bread sold bread both locally and interstate, and, in the course of such business, maintained prices in interstate transactions but cut prices in intrastate transactions in petitioner's locality, thus driving petitioner out of business. E. P. Mead and Ed V. Mead extended substantially more credit to petitioner than either received from it. The radio studios were atop the Hilton Hotel, twelfth floor. 121: Decision Date: 06 December 1954: 348 U.S. 115 75 S.Ct. Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. 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. Several other reasons caused petitioner to retain its earnings in this period. Both issues are fact questions. was provided by the McMurry University Library The major portion of this amount consisted of $281,000 representing proceeds from the Penn Mutual loan. Rehearing Denied Jan. 31, 1955. Follow the links below to find similar items on the Portal. Thus, in our opinion the amounts advanced to Angus during the period in issue constitute investments unrelated to petitioner's business. 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/. 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. The busy boulevard in 1965, six lanes wide with abundant centered street lights. He claims that the bartender . My moral code today is based as much on my hymn singing as on my churchgoing (Yield not to temptation, For yielding is sin;/Each victry will help you Some other to win). 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. Neither petitioner nor any of the predecessor corporations paid a taxable dividend throughout their respective existences. In our opinion, petitioner has established that, at least to some extent, it permitted its earnings and profits during this period to accumulate in order to meet the reasonable needs of its business. Anything? 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. William Ernest Seatree [Dec. 7413], 25 B. T. A. Shortly after its incorporation on April 27, 1955, petitioner, in a tax-free reorganization, acquired the assets and assumed the liabilities of the following corporations, which were then dissolved: (These corporations will hereinafter sometimes be referred to as the predecessor corporations.) This company was engaged in the business of manufacturing and selling bread. Mead's Fine Bread Company - New Mexico business overview: agent, contacts, address, registration date, reports and more. 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 . Theres within my heart a melody; Jesus whispers sweet and low . Music has always had more effect on my emotions than the spoken word. The Penn Mutual loan contained restrictions against petitioner's incurring any indebtedness other than (1) the Penn Mutual loan, (2) indebtedness incurred in connection with the purchase of equipment, but not to exceed an aggregate of $150,000 at any time outstanding, and (3) unsecured bank loans maturing within 12 months and not exceeding $400,000. Some content on this site may be difficult to view. Do they still sing The Old Rugged Cross? Reference to our Findings of Fact indicates that petitioner has clearly demonstrated that in each of the above-described instances it used its funds for legitimate business reasons and that it has rebutted any inference of unreasonable accumulations arising from such transactions. Big Jim took an announcers job in Lubbock, Jimmy transferred to some Oklahoma college, Norman graduated and went to New York to work on his M.A. Your support aids students of all ages, rural communities, 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. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. Section 535(c). In order to retain the market served by that plant, petitioner transported bread from its plant in Abilene, Texas, and incurred related expenses of approximately $450,000. a digital repository hosted by the Section 1.1502-31(a)(19)(i), Income Tax Regs. No. In 1978, the See 348 U.S. 932, 75S.Ct. to improve everyone's access to primary sources online. This is an automated process which produces bread of a better texture and quality at a cost of approximately 10 to 15 percent less than the conventional methods. Argued Nov. 17, 1954. 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. Grocery Co. [38-2 USTC 9312], 304 U.S. 282 (1938); F. E. Watkins Motor Co. [Dec. 23,233], 31 T.C. It maintains its books and records and files its Federal income tax returns on the basis of a fiscal year ended April 30. At all times relevant hereto, E. P. Mead, petitioner's president, owned approximately 60 percent of the outstanding stock in petitioner. is part of the collection entitled: New Mexico company code: 268904. New York, USA Memento Mori combines wildflower honey, orange peel, and dandelions foraged at peak bloom to create a sensory experience akin to strolling in a meadow on the first warm day of spring. Had professional backup: steel, drums, amped lead and bass, acoustic rhythm, Autoharp, and an absolutely wonderful Baptist Sunday school piano. Bring on the Shiplap? K-12 lesson plans, tools, and other help for history teachers.
Tf2 Pyro Cosmetics, Is Robert Hamner Related To Earl Hamner, Articles M