mead's fine bread company

Petitioner actually converted two of its plants in 1961 and another in 1962, at an aggregate cost of $451,125.32. The cattle were sold at auction in October 1955. 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. 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. Service is great. The regular bassa grown man, as I thought of ithad been transferred out of town, and someone had to fill in quick. The consolidated accumulated earnings credit is. Calvary . United States Court of Appeals Tenth Circuit. The best restaurants in town were located along "The Main Street of America" in the '60s. awards, and more. 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. Doc Mead owned Meads Fine Bread bakery, and Meads Quartet sang on KRBC for fifteen minutes at noon on weekdays. Petitioner's total accounts receivable in 1956 were $487,000 as compared to $730,000 in 1959. Request UpdateGet E-Mail Alerts Text Citations (65) Cited By (4) 208F.2d777 MEAD'S FINE BREAD CO. v. Listed below are those cases in which this Featured Case is cited. God Be With You Closing theme of Meads Quartet. 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. 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. In order to conserve working capital and to present a more favorable balance sheet, petitioner chose to occupy these buildings under leases, rather than to purchase or construct such buildings. 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. 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. New Mexico company code: 268904. No. William Ernest Seatree [Dec. 7413], 25 B. T. A. Side: Their families describe them as proud Texans and leaders in their home and church communities. 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/. Texas Lege Watch: A House Republican Fights for Chicken Freedom, Texas Monthly Recognized by ASME in the 2023 National Magazine Awards. 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. It has some wear as to be expected, some paint loss in spots on the bottom cross plate, which only adds to the character! Meads Fine Bread Co., his competitor, engaged in an interstate business. 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. Doc Mead owned Mead's Fine Bread bakery, and Mead's Quartet sang on KRBC for fifteen minutes at noon on weekdays. Check out our Resources for Educators Site! As we were slipping around the corner of the choir, Norman (a dignified sort who became a professor) led the way, and just as he drew even with a tall, praying woman she looked him right in the eye, threw up her hands, and shouted, Thank you , Jesusand Norman shook hands with her. Bins 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. (1954) - Free download as PDF File (.pdf) or read online for free. This photograph is part of the following collections of related materials. Moreover, the fact that petitioner filed its income tax returns on a consolidated basis with its subsidiary, Angus, does not affect this conclusion. Mead's Fine Bread Co., 348 U.S. 115, 75 S.Ct. Fills my evry longing, Keeps me singing as I go. Funerals became an almost weekly ritual. Section 1.1502-31(a)(19)(i), Income Tax Regs. (Experimental). ; Raymond I. Smith, Inc. [Dec. 23,812], 33 T.C. 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. The cattle raising operation took place on an 1800 acre ranch owned by Angus in Albuquerque, New Mexico. Cf. In 1959, he merged that business with Campbell Taggart, and a few years later, he became chairman and CEO of the company. To the work! The requests poured in, sometimes with the titles spelled phonetically: And please play Father Alone, first chance you get or Dead Meads Quartet: Will you please sing Blessed Insurance for my sister who has just lost her husband. Decided Dec. 6, 1954. I did hold membership in the Bluejacket Choir, but there were too many opera singers and famous vocalists for a Texas fundamentalist to hang on very long. and read 622 reviews: "Very nice hidden gem. Can College Sports Get More Absurd Than SMU Joining the Pac-12? Do they still sing The Old Rugged Cross? to improve everyone's access to primary sources online. [Mead's Fine Bread Company], An encased cent in n aluminum loaf of bread. I thought I had it made as a singing swabbie. [4 USTC 1299] 72 F.2d 67 (C. A. D. C. 1934); cf. Section 537. 13 (a), 13a and 15. While working as program director at station KCUL Photographed By Craig Doda, May 11, 2020 2. That girl had a better knack for peacemaking than war, and even a hound like Radagon could be coaxed away from his aggressive mantras. 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. 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. ); (2) the amount of petitioner's securities investments during the years in issue (cf. Mead's Fine Bread Co. No. Mead's Fine Bread Co. No. Your support aids students of all ages, rural communities, . However, there is one factor mentioned by respondent which bears even more intensive scrutiny, namely, the advances made by petitioner on open account to its subsidiary, Angus, during the years in question.9 Cf. 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. 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. No. If your yeast has reached its alcohol tolerance this probably wouldn't work. 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. 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. Obverse reads: "Mead's Fine Bread" The encasement has wrapper lines on the right end to give it a 3-D look. Telephone to Glory, oh, what joy divine! [Mead's Fine Bread Company] Side: 1 of 1 1 photograph : positive, col. ; 35 mm. 757, 764-765 (1963), on appeal (C. A. 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. He upped my wages to $7.50. 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. 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. Without that $6 each week I couldnt have gone to college. is part of the collection entitled: University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; The boycott gave Moore a complete monopoly of the bread business in Santa Rosa. Bring on the Shiplap? They had a competitor in Santa Rosa, Texas, and Mead's cut the price of their bread from 14 to 7¢. 160, 169-170 (1950); Reginald C. Vanderbilt [Dec. 2059], 5 B. T. A. But he was a good sport. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. Next, we have the Lalvin EC-1118, a very strong yeast that has an ABV tolerance of up to 18 percent ABV. Petitioner's management had estimated during the years in issue that trade accounts receivable would increase between 20 and 25 percent per year. View a full description of this photograph. Angus also owned a farm of approximately 180 acres in Albuquerque which it acquired for approximately $175,000. This Court cannot be bound by stipulations as to law. On September 12, 1955, petitioner borrowed a total of $400,000 from two banks. section 1.537-2(c)(1), Income Tax Regs.) The busy boulevard in 1965, six lanes wide with abundant centered street lights. 5, 1963). See section 1.535-3(b)(ii), Income Tax Regs. I hate to admit, even at this distance, that I brazenly pretended it was grief choking us up. So it was an answer to prayermy mothers prayerwhen E. P. Doc Mead pulled me aside after church one Sunday and asked if I would like to sing in Meads Quartet. Angus was organized by El Paso on August 12, 1953, to engage in raising and breeding an elite show herd of Aberdeen Angus cattle. Commissioner v. Cummings [35-2 USTC 9383], 77 F.2d 670 (C. A. We've identified this ., 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. Helpful links in machine-readable formats. photograph 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. Creator: Unknown. Meads Quartet didnt need all that support system. He suggested we do it during the prayer. My first check as a radio gospel singer on KRBC in Abilene was for $6 and was signed by Elliott Roosevelt. Docket Number: No. However, petitioner was able to enter the potato chip business indirectly when E. P. Mead and Ed V. Mead, on January 30, 1957, organized Mead Co., Inc.3 Mead Co., Inc. produced potato chips which it supplied to petitioner for distribution. . We do not believe that this is a correct interpretation of the applicable regulations. 334. . MEAD'S FINE BREAD COMPANY, a Corporation. 148 99 L.Ed. Petitioner was engaged in a purely intrastate bakery business. We took requests, although most of the cards and letters asked for the jingly kind of quartet songs, which Fred disapproved of. was provided to The Portal to Texas History In 1958, when the machinery became available in the areas in which petitioner operated, it began to conduct active negotiations with Baker Process Company and American Machine & Foundry Company, two companies which manufactured and installed continuous mix equipment. Get free access to the complete judgment in MEAD'S FINE BREAD CO. v. MOORE on CaseMine. ART FINE-ARTS. Anything? 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. This amount would have been insufficient to enable petitioner to conduct its operations for one day. Section 1.537-3(b), Income Tax Regs. In part, these time deposits were held as to reserve for the contingent tax liability. Book now at Grape Vine Cafe - Buffalo & Lake Mead in Las Vegas, NV. This is part of the collection entitled: And what will be remembered of the high-flying anthems and hundred-voice-choir pieces of today? In 1960 its Oklahoma City plant was closed because of a strike and in 1962 its Jeffersonville, Indiana, plant was subject to a prolonged strike. by the McMurry University Library. (https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/: . The radio studios were atop the Hilton Hotel, twelfth floor. He was born February 7, 1932 to N.B. The following is a consolidated balance sheet reflecting, on a consolidated basis, the assets and liabilities of petitioner and its subsidiary, Angus, during the years before this Court. Nor can it be bound by stipulations of fact which appear contrary to the facts as disclosed by the record. Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. . It tasted a bit old. 6, 1955), certiorari denied 351 U.S. 939 (1956). Mead's fine bread company is a New Mexico Foreign Profit Corporation filed On November 21, 1949. Angus sustained substantial net operating losses from the year petitioner acquired it until it was disposed of in 1960. sub nom. When we wanted to bring em to their knees, we did The Old Rugged Cross. We sang the first verse in close harmony, with just a little piano (On a hill far away stood an old rugged cross). Lalvin EC-1118. photograph, Although petitioner purchased the site for a new plant in Ada, Oklahoma, in October 1957, it abandoned plans for constructing this plant in 1961 because its other plant in that town was not operating as profitably as had been expected. The first and only black cheese, creamy and mature and mixed with chilli. See 348 U.S. 932, 75 S.Ct. Feb 2018 - Present5 years 1 month. 4615_1 No tags have been applied so far. 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 director of Meads Quartet was a big blond guy named Fred, who worked in a downtown office. (https://texashistory.unt.edu/ark:/67531/metapth1165909/: The proposed tax deficiencies were finally determined to be $149,393.66, per Tax Court decision of November 10, 1959. 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. 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. Here are some suggestions for what to do next. I night-managed a drive-in cafe right up to the week before graduation. MEAD'S FINE BREAD COMPANY, a Corporation. 529 (1933), reversed on another issue [36-1 USTC 9019] 296 U.S. 374 (1935); McClintock-Trunkey Co. [Dec. 19,316], 19 T.C. Creation Date: Unknown. Refrigerator Parts & Accessories. Once, in Philadelphia, I enjoyed a comeback. Creation Date: Unknown. Cf. One such reason was the threat of reduced profits because of price cutting by chain stores which, in addition to their retail trade, operated bakeries. 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. They have continued to increase since that time. Commissioner v. Ehrhart [36-1 USTC 9142], 82 F.2d 338 (C. A. But I looked at it as $4.80 an hour. 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. They encouraged their associates to participate as speakers and officers of the American Society of Baking. 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.' Mead's Fine Bread operated in Texas and New Mexico. Mr. Mead (1919-2006) started after high school as a bread route salesman for the Abilene, Texas bakery owned by his father and uncle. Real Good Kitchen. Our Findings of Fact contains the various factors which led us to this conclusion. Historic newspapers digitized from across the Red River. 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. 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. Decision Date: 16 January 1954: 208 F.2d 777 (1953) MEAD'S FINE BREAD CO. v. MOORE. Go to Recipe. In order to keep up with its competition, rising costs and the increasing population of the areas it served, petitioner was forced to expend considerable sums for replacing old equipment and purchasing new equipment. Throughout its entire existence, petitioner has experienced great diffculty in obtaining adequate credit and financing. Mr. Edward W. Napier, Lubbock, Tex., for respondent. as well as independent and professional researchers. Whats Up With All the Kangaroos on the Loose in Texas. Check out our Resources for Educators Site! After overseeing the merger of Campbell Taggart with Anheuser Busch, Mr. Mead retired in 1983. People and organizations associated with either the creation of this photograph or its content. This truly unique cheese is made with charcoal from the Featherstone mines in Yorkshire mixed with a wonderfully creamy mature wax coated cheddar. 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. The encasement is approximately 2 inches wide by 1 at its tallest point. Bill O. Mead and Connie B. MEAD'S FINE BREAD COMPANY is a New Mexico Foreign Profit Corporation filed on November 21, 1949. MEADOWVIEW POOL CO; MEADS STEPHEN OIL CO CO; MEAD-RAYMOND CORPORATION. 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. Some content on this site may be difficult to view. But Doc remained approachable, the same sweet, tin-eared guy. It appears to have been made to use with a key chain as it has a hole at one end. 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. photograph Mr. Justice DOUGLAS delivered the opinion of the Court. Petitioner's stock was then distributed to the stockholders of the predecessor corporations. Leagle.com reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions. In essence, the pertinent regulations provide that in computing the consolidated accumulated earnings tax for an affiliated group, which is not a mere holding or investment group,13 there shall be deducted from consolidated taxable income a consolidated accumulated earnings credit. All were visually striking. As we arived, we could hear the service going on two blocks from the church house. Creation Information Creator: Unknown. The major portion of this amount consisted of $281,000 representing proceeds from the Penn Mutual loan. The company's filing status is listed as Withdrawal and its File Number is 268904. 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. Rehearing Denied Jan. 31, 1955. Read more

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