mead's fine bread company

Copyright 2022 American Society of Baking. Date Unknown; But he was a good sport. These corporations maintain plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. Texas Lege Watch: A House Republican Fights for Chicken Freedom, Texas Monthly Recognized by ASME in the 2023 National Magazine Awards. Mead's Fine Bread Co., 348 U.S. 115, 75 S. Ct. 148, 99 L. Ed. I hate to admit, even at this distance, that I brazenly pretended it was grief choking us up. 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/. 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. That was fabulous pay for a sixteen-year-old college freshman. 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. Some of the facts have been stipulated, and the stipulations of facts, together with the exhibits attached thereto, are incorporated herein by this reference. 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. That girl had a better knack for peacemaking than war, and even a hound like Radagon could be coaxed away from his aggressive mantras. These buildings were constructed by Mead Industries, Inc., according to petitioner's exact specifications. 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. This 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. When it started I saw why. The radio studios were atop the Hilton Hotel, twelfth floor. Between May 1, 1955, and April 30, 1956, it added some 41 new delivery routes to service Oklahoma City, Ada, and Tulsa, Oklahoma. to E. P. Mead and Ed V. Mead extended substantially more credit to petitioner than either received from it. The cattle were sold at auction in October 1955. Petitioner was engaged in a purely intrastate bakery business. It never failed. extended guidance on usage rights, references, copying or embedding. 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. From that time to date, their activities in this business reflect sustained growth, expansion and diversification. 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. He Keeps Me Singing. Several other reasons caused petitioner to retain its earnings in this period. The encasement material is the traditional aluminum and is the thickness of a cent. 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. The consolidated accumulated earnings credit is. photograph, Mr. Justice DOUGLAS delivered the opinion of the Court. The encasement is approximately 2 inches wide by 1 at its tallest point. We use cookies to ensure that we give you the best experience on our website. (Howard F. Houk, Santa Fe, N. M., was with him on the brief), for appellant. Order Enlightenment Wines Memento Mori Dandelion Mead 375-ml bottle online from The Lunar Inn & Tinys Bottle Shop. The Mead family has been engaged in the business of manufacturing and distributing bread on a wholesale basis in the southwestern part of the United States since at least 1938. And TommyI wonder what did happen to Tommy? It has some wear as to be expected, some paint loss in spots on the bottom cross plate, which only adds to the character! 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 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. Because of various restrictive covenants and negative pledge clauses in its loan agreement with Penn Mutual, the only manner by which petitioner could attempt to attain these ends during the years in issue was by the retention of earnings. Real Good Kitchen. ., 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. 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. Citations are also linked in the body of the Featured Case. Commissioner v. Cummings [35-2 USTC 9383], 77 F.2d 670 (C. A. . 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. 6, 1955), certiorari denied 351 U.S. 939 (1956). TIN: 15910281227. In 1958 they consolidated the company. 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. WHEN UPON LIFES BILLOWS you are tempest tossed, When you are discouraged, thinking all is lost . University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; There was a trend in the baking industry toward more credit and larger receivables. On September 14, 1961, petitioner also purchased all of Mead's Frozen Foods, Inc., for $97,727. Dates and time periods associated with this photograph. Pursuant to section 537, the term "reasonable needs of the business" includes the reasonably anticipated needs of the business. 145 L. L. MOORE, Petitioner, v. MEAD'S FINE BREAD COMPANY, a Corporation. (1954) - Free download as PDF File (.pdf) or read online for free. 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. Fred joined the Air Force (and died in the service), and Norman, our second tenor, became an airman too. The initial expense of adding a new route is $5,000, which includes a truck and a 12-week training period for the delivery man. India; UK & Ireland . collections, new partnerships, information on research, trivia, The cattle were sold at auction in October 1955. By His counsels guide, uphold you, With His sheep securely fold you; God be with you till we meet again! Angus had the following gross receipts from the sale of hay: Neither Ed nor any other officer of Angus or petitioner devoted any of his time to the affairs of Angus. 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. University of North Texas Libraries, The Portal to Texas History, View a full description of this photograph, Brightness, Contrast, etc. Although the terms of the Penn Mutual loan were somewhat less stringent than those of the bank loans, nevertheless, petitioner found them confining. Lalvin EC-1118. the Indianapolis Brewing Company, as his bondsmen, for alleged injuries received in the defendant's place of business. Both issues are fact questions. Petitioner's average four week cash balances for the fiscal year ended April 30, 1956, was $360,283.37. Mead's Fine Bread Co. v. Moore, 208 F.2d 777, 10th Cir. If the taxpayer's ownership of stock is less than 80 percent in the other corporation, the determination of whether the funds are employed in a business operated by the taxpayer will depend upon the particular circumstances of the case. My first check as a radio gospel singer on KRBC in Abilene was for $6 and was signed by Elliott Roosevelt. [Mead's Fine Bread Company] Side: 1 of 1 1 photograph : positive, col. ; 35 mm. . 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. 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. Petitioner also has the burden of proof as to the ultimate issue of whether petitioner during the years in question was availed of for the purpose proscribed in section 532. When the quartet gave up after Kneel at the Cross, the band played onto the clapping of the crowd. The yeast I used fermented the mead to dry and still had a much higher alcohol tolerance. Researchers, educators, and students may find this photograph useful in their work. 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. Service is great. The Portal to Texas History, 886, 895 (N. D. Okla. 1947), affd. 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. . 141 (1959), affd. If you fill out the first name, last name, or agree to terms fields, you will NOT be added to the newsletter list. 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. 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. Aside from the tenant farmer, Angus had no employee during the years in issue. Meads cut the price of bread in half in 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. Mr. Justice DOUGLAS delivered the opinion of the Court. The amount of the receivable was paid by E. P. Mead on October 16, 1958. The regular bassa "grown man," as I thought of ithad been. 529 (1933), reversed on another issue [36-1 USTC 9019] 296 U.S. 374 (1935); McClintock-Trunkey Co. [Dec. 19,316], 19 T.C. Free delivery for many products. Physical Description 1 photograph : positive, col. ; 35 mm. When the young peoples class offered special music at the little church we attended (it had no choir), I was always the bass. Encasements for coins take on many different shapes. 7, 1935), affirming [Dec. 8135] 28 B. T. A. To my left was a French horn, behind me was a street drum, and on Normans right were two saxophones, one a soprano. And what a choir! Each year Mead produces more than 1.5 million tons of paperboard and the company is an industry leader in coated paperboard, containerboard, and multiple packaging. Context On the second verse Jimmy did a solo over our humming (Oh, that old rugged cross so despised by the world,/Has a wondrous attraction for me), and the last verse we did a cappella, phrasing it tightly, bring the piano back in for the chorus. 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. collections, new partnerships, information on research, trivia, People and organizations associated with either the creation of this photograph or its content. 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. Our guide for the night met us and slipped us in through the back door, seating us on the front row of the choir. A chaplains assistant, also named Greene, who later starred at Westminster Choir College, called me at midnight, asked me if my story of singing bass on the radio was a lie, and ordered me to report at 0700 to form the Navy Quartet and practice for feature presentation that afternoon. Also in conjunction with the "Critical Mass" exhibition at the Mead Art Museum, the Frost Library presents FluxusFluxusFluxus, an exhibition drawn from its extensive collection of Fluxus material. Read more Neither petitioner nor any of the predecessor corporations has ever declared or paid a taxable dividend. Sick bucks a week. Reverse is blank only showing the reverse of the coin. We relished these performances, since Meads bakery paid us for such off-air advertising. section 1.537-2(c)(4), Income Tax Regs. Log In. 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. Count your blessings! Drop a pin or drag to create a new rectangle. 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. The respondent determined deficiencies in petitioner's income tax, as follows: Respondent made a number of adjustments in petitioner's taxable income for each of the years in question, which adjustments petitioner has conceded. Docket Number: No. I night-managed a drive-in cafe right up to the week before graduation. N. E. 8th (Amarillo Blvd.) Your support aids students of all ages, rural communities, 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. Thu Mar 30 2023 at 10:30 am Mid-week S&B. Panera Bread (2516 Aloma Avenue, Winter Park, FL) . And dont laugh at the size of the check. UNT's history and scholarship, library special collections, plus a Over the years, the Mead brothers and their families split up the operations. 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. The remaining stock in petitioner was held by other members of the Mead family during the period in question. In connection with its acquistion on May 1, 1955, of the four predecessor corporations, petitioner acquired the Angus stock, which had previously been owned by one of the predecessor corporations (hereinafter referred to as El Paso). (https://caselaw.findlaw.com/us-supreme-court/348/115.html - United States Supreme Court, MOORE v. MEAD'S FINE BREAD CO.(1954)), Home|Articles| 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 proposed tax deficiencies were finally determined to be $149,393.66, per Tax Court decision of November 10, 1959. to improve everyone's access to primary sources online. Real Good Kitchen is a shared kitchen community that provides food entrepreneurs with the equipment, production space and resources they need . Petitioner's stock was then distributed to the stockholders of the predecessor corporations. Every hymn was handled like a symphonyand I dont mean to imply that the horn, drum, and saxes were the only instruments; I didnt dare turn and stare, but I know I heard a banjo, strings, at least two cornets (because they tried to harmonize), something mysterious that a GI had brought back from Japan, and a set of snares rigged for marching.

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