mead's fine bread company

MEAD'S FINE BREAD COMPANY, a Corporation. Argued Nov. 17, 1954. and Florence VanHoozer in the Bethel community east of Lawton, and was one of four kids. 20, 1948 (These corporations will hereinafter sometimes be referred to as the predecessor corporations.) MOORE V. MEAD'S FINE BREAD CO., 348 U. S. 115 (1954) - ChanRobles Petitioner in each of the years in issue realized a substantial profit. [Mead's Fine Bread Company], However, we also conclude that during each of its taxable years 1957 and 1958, petitioner did have reasonable business needs equal to the amount of earnings retained by it during such year, minus the amount advanced to Angus in such year. 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. 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. This was done so as to prevent a technical violation of a covenant in the Penn Mutual loan agreement. This 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! Doc was a lay preacher, and he often took us with him when he addressed a church in some town like Nugent or Lueders. Mead's Fine Bread Co. v. Moore AppealCourt of Appeals for the Tenth Circuit, Case No. When the young peoples class offered special music at the little church we attended (it had no choir), I was always the bass. As previously indicated, petitioner has the burden of proving that the earnings retained by it during the years in issue did not exceed its reasonable business needs. 4615. Fred nearly cried when I walked into the studio. Connie B. Lane and Bill O. Mead - American Society of Baking Thus, the business of one corporation may be regarded as including the business of another corporation if such other corporation is a mere instrumentality of the first corporation; that may be established by showing that the first corporation owns at least 80 percent of the voting stock of the second corporation. (https://caselaw.findlaw.com/us-supreme-court/348/115.html - United States Supreme Court, MOORE v. MEAD'S FINE BREAD CO.(1954)), Home|Articles| Mead's fine bread company is a New Mexico Foreign Profit Corporation filed On November 21, 1949. 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/. They encouraged their associates to participate as speakers and officers of the American Society of Baking. photograph N. E. 8th (Amarillo Blvd.) 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. 1249 (1927), affd. 121: Decision Date: 06 December 1954: 348 U.S. 115 75 S.Ct. Argued Nov. 17, 1954. 334. Pursuant to section 537, the term "reasonable needs of the business" includes the reasonably anticipated needs of the business. 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. My mead has about 12% alcohol, but the yeast could go to 18%. Neither petitioner nor any of the predecessor corporations has ever declared or paid a taxable dividend. By His counsels guide, uphold you, With His sheep securely fold you; God be with you till we meet again! This As noted above, the parties stipulated that Angus, during the years in issue, was engaged in the agricultural and livestock business. We've been unable to identify the creator(s) of this photograph. We took requests, although most of the cards and letters asked for the jingly kind of quartet songs, which Fred disapproved of. 8, 1940). Vintage Advertising Lot; Mead's Fine Bread;Purina;Rook;Press on Tape After overseeing the merger of Campbell Taggart with Anheuser Busch, Mr. Mead retired in 1983. Helvering v. Nat. Discover clat Men's Volumizing Texture Spray. endowment Refrigerator Parts & Accessories. 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. All were visually striking. 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 . Listed below are those cases in which this Featured Case is cited. 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. Commissioner v. Ehrhart [36-1 USTC 9142], 82 F.2d 338 (C. A. Go to Recipe. This loan also prohibited petitioner from acquiring any new corporations or assets by merger, or in return for the issuance of its stock. Similarly, Ed V. Mead, petitioner's vice-president and the son of E. P. Mead, owned approximately 31 percent of petitioner's outstanding stock. In fact, the orchestra didnt want to quit. Zoom and Pan the map as needed. The Jay-Rollins Library serves the students, faculty, and staff of McMurry University in Abilene. 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 . accessed March 4, 2023), The executives invested substantially in new technology to open new markets, specifically taking pan variety bread to national distribution. Petitioner's total accounts receivable in 1956 were $487,000 as compared to $730,000 in 1959. 886, 895 (N. D. Okla. 1947), affd. The regular bassa "grown man," as I thought of ithad been. L. L. MOORE, Petitioner, v. MEAD'S FINE BREAD COMPANY, a Corporation 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. FunHundred! Winter Park Chamber Immersive Art Exhibit Field Trip | Mead 1954) Annotate this Case US Court of Appeals for the Tenth Circuit - 208 F.2d 777 (10th Cir. 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. 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. Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. 1954) December 11, 1953 Rehearing Denied January 16, 1954 Edward W. Napier, Lubbock, Tex. 90 (1954), affd. This photograph is part of the following collections of related materials. Creation Date: Unknown. These corporations maintain plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. The crowd got quiet. 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. 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 . Petitioner's average four week cash balances for the fiscal year ended April 30, 1956, was $360,283.37. It maintains its books and records and files its Federal income tax returns on the basis of a fiscal year ended April 30. Reverse is blank only showing the reverse of the coin. 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. The amount of the receivable was paid by E. P. Mead on October 16, 1958. Food is delicious. Filed: 1955-01-31 . The Melbourne Storm gun has stamped himself as one of the best players in the NRL. Count your blessings! 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. Cf. MEAD'S FINE BREAD CO. v. MOORE | 208 F.2d 777 | 10th Cir. | Judgment No. Some content on this site may be difficult to view. 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. (https://texashistory.unt.edu/ark:/67531/metapth1165909/: MEADOWVIEW POOL CO; MEADS STEPHEN OIL CO CO; MEAD-RAYMOND CORPORATION. The company's mailing . Service is great. On another occasionthe funeral of the father of a friend of mineTommy got off on the wrong key to begin with (the organist was unfamiliar with our style) and started positively whimpering instead of singing. To learn more about cookies and how ASB uses them please visit our Privacy Policy page. The encasement material is the traditional aluminum and is the thickness of a cent. On September 12, 1955, petitioner borrowed a total of $400,000 from two banks. MEAD'S FINE BREAD CO. v. MOORE. Our guide for the night met us and slipped us in through the back door, seating us on the front row of the choir. K-12 lesson plans, tools, and other help for history teachers. On September 14, 1961, petitioner also purchased all of Mead's Frozen Foods, Inc., for $97,727. Petitioner did not submit a statement of grounds, as permitted under section 534(c). Click on the case name to see the full text of the citing case. Mr. Edward W. Napier, Lubbock, Tex., for respondent. Doc Mead owned Meads Fine Bread bakery, and Meads Quartet sang on KRBC for fifteen minutes at noon on weekdays. 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. . (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 the terms of the Penn Mutual loan were somewhat less stringent than those of the bank loans, nevertheless, petitioner found them confining. The bakery business has been subject to dramatic innovations. . Ed V. Mead, formerly the president of El Paso and, during the years in issue, vice-president of petitioner, resided at all times relevant hereto in a home located on the farm. 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 daily Pittsburgh gazette., April 04, 1854, Image 4 Swipe Rechts Fr Ehemann: Eine SciFi Alien RomCom (Vandalar Konkubinen 334. . 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. Abilene Library Consortium and as a primary source within our collections. Mead Art Museum Critical Mass: Happenings, Fluxus, Performance To my left was a French horn, behind me was a street drum, and on Normans right were two saxophones, one a soprano. 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. Sat Mar 04 2023 at 09:00 am Reach Day. 757, 764-765 (1963), on appeal (C. A. Our guide whispered to us that sometimes the service went on until pretty late and we might want to leave. 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. Mr. Justice DOUGLAS delivered the opinion of the Court. Your support aids students of all ages, rural communities, Count your many blessings, evry doubt will fly, And you will be singing as the days go by. Had professional backup: steel, drums, amped lead and bass, acoustic rhythm, Autoharp, and an absolutely wonderful Baptist Sunday school piano. Telephone to Glory, oh, what joy divine! Mead's Fine Bread operated in Texas and New Mexico. 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. Real Good Kitchen is a shared kitchen community that provides food entrepreneurs with the equipment, production space and resources they need . Mr. Edward W. Napier, Lubbock, Tex., for respondent. 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. It believed that the adoption of these two lines would be advantageous because it already possessed a ready-made system which could distribute these additional products without any increase in overhead. section 1.537-2(c)(4), Income Tax Regs. Check out our Resources for Educators Site! Leagle.com reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions. 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. ); and (3) petitioner's advances on open account to its two principal shareholders, E. P. Mead and Ed V. Mead (cf. 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). Thus, it was forced to borrow funds to obtain the requisite working capital. William Ernest Seatree [Dec. 7413], 25 B. T. A. 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. The thing I did not enjoy was the bread. They all market their bread under the name 'Mead's Fine Bread' and promote the product through a common advertising program. MEAD'S FINE BREAD COMPANY branch Company Number 268904 Status Withdrawal Incorporation Date 21 November 1949(over 72 years ago) Company Type Foreign Profit Corporation Jurisdiction New Mexico (US) Branch Branch of MEAD'S FINE BREAD COMPANY(Texas (US)) Inactive Directors / Officers SECRETARY OF STATE, agent, 21 Nov 1949- Registry Page is part of the collection entitled: per curiam [56-1 USTC 9139] 227 F.2d 779 (C. A. Mead's Fine Bread Co. v. Moore, 208 F.2d 777 (10th Cir. A week later I was shipped out to the U.S. Marine Corps, and for two years the only hymn I sang was The Marines Hymn (First to fight for right and freedom/And to keep our honor clean). 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. collections, new partnerships, information on research, trivia, Free delivery for many products. New Mexico business catalog. 334. The Court said, "Congress by the Clayton Act and Robinson-Patman Act barred the use of interstate business to destroy local . Funerals became an almost weekly ritual. and Neither petitioner nor any of the predecessor corporations paid a taxable dividend throughout their respective existences. Explore menu, see photos and read 622 reviews: "Very nice hidden gem. 1922); Henry P. White [Dec. 20,611], 23 T.C. No. The regular bassa grown man, as I thought of ithad been transferred out of town, and someone had to fill in quick. Eaten claims that he Is a paralvtlc and that on Feb. 22 he fell and broke his collar bone and that on the 2lth of the samo month he went into the saloon to dis pose of some of his stock of matches. MOORE v. MEAD'S FINE BREAD CO., 348 U.S. 115 (1954) | FindLaw Aside from the tenant farmer, Angus had no employee during the years in issue. Petitioner's management had estimated during the years in issue that trade accounts receivable would increase between 20 and 25 percent per year. The remaining stock in petitioner was held by other members of the Mead family during the period in question. Several other reasons caused petitioner to retain its earnings in this period. Read more But it wasnt the same. Doc Mead owned Mead's Fine Bread bakery, and Mead's Quartet sang on KRBC for fifteen minutes at noon on weekdays. He claims that the bartender . Thus, it is necessary for us to consider whether petitioner's earnings and profits were, in any of the years herein concerned, accumulated beyond the reasonable needs of its business. Funerals always brought out the worst in us. Cf. Unique identifying numbers for this photograph in the Portal or other systems. First of all, the evidence in the record affirmatively shows that Angus was not actively engaged in the business of cattle raising or farming during the years in issue and that, at most, it was a mere investment company. Moore v. Mead's Fine Bread Co., 348 U.S. 115 (1955) - Free download as (.court), PDF File (.pdf), Text File (.txt) or read online for free. June 5, 1946 Mead's Fine Bread Company of Big Spring, Big Spring, Texas Oct. 7, 1946 Mead's Fine Bread Company of El Paso, El Paso, Texas Mar. Read more ., We changed the opening song to the lovely old Dutch hymn We Gather Together, but we loosened up the format, so to speak, and worked in lots of things like Precious Memories as well as marching songs: Marching to Zion, Onward, Christian Soldiers, Are You Washed in the Blood, Revive Us Again. We cut big, fifteen-minute, hill-and-dale ETs (electronic transcriptions) that were shipped to three other radio stations across West Texas. TIN: 15910281227. Although we were careful to avoid any denominational taint in our music, some of the revivals at which we sang tested our religious backgrounds. Get free access to the complete judgment in MOORE v. MEAD'S FINE BREAD CO on CaseMine. 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. We finally persuaded him to let us do such radio standards as Telephone to Glory and Lifes Railway to Heaven (Keep your hand upon the throttle,/And your eye upon the rail). January 2023 Reader Quiz: What Did You Learn? We do not believe that this is a correct interpretation of the applicable regulations. The piece has Mead's fine Bread on the front and the back is plain. Section 535(c). 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. Date Unknown; Included among these factors are: (1) Petitioner's advances on open account to Mead Industries, Inc. (cf. Harry Grant suffered a near-death experience when he was a 12-year-old, he revealed. from atop St. Anthony's Hospital about 1960. They only cut the price in Santa Rosa, but not in other Texas or New Mexico locations. As of May 1, 1955, the equipment in many of petitioner's plants was obsolete, worn out, and in need of replacement. One large Holy Roller congregation booked us and told me there wouldnt be any need for us to be there before 10 p.m. because things didnt really get started until then. These . to We do not agree with any of petitioner's contentions relating to its advances to Angus. Our Findings of Fact contains the various factors which led us to this conclusion. I had to hitchhike from the college to downtown because I couldnt afford a dime for the bus. 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. 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. 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. Mead's was founded in 1918 by J.H. In 1958, petitioner also acquired common stock in Citizens National Bank, Abilene, Texas, at a cost of $11,280.4 During the years in issue petitioner maintained a portion of its assets in the form of time deposits. sold the company to Fehrmead Food Corp., a Dallas-based holding company. Petitioner was engaged in a purely intrastate bakery business. Citations are also linked in the body of the Featured Case. I had never taken voice lessons and did not plan on becoming a music professional, but I sang a pretty fair country bass and blended well. Petitioner's average cash balance for the four weeks ended March 1, 1956, excluding the proceeds of the Penn Mutual loan, was $40,733.86. 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.

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