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. These structures were, therefore, suitable solely for baking purposes. Although the basic equipment for this process did not become available in the areas in which petitioner's plants were located until some time in 1958, petitioner had, by 1956, made definite plans to begin converting its ten largest bakery plants to the continuous mix process at such time as the equipment could be obtained. 1094 (1936); Beim Co. v. Landy [40-2 USTC 9630], 113 F.2d 897, 900 (C. A. As reserve against this contingency, petitioner purchased in 1956 securities consisting of U. S. Government bonds, Series F, at a cost of $17,031.11 and common stock in the First State Bank of Amarillo at a cost of $5,100. We do not agree with any of petitioner's contentions relating to its advances to Angus. Subsequently, the Court noted that " the decisions of the federal courts in primary-line-competition cases . 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. Bring on the Shiplap? Descriptive information to help identify this photograph. As we arived, we could hear the service going on two blocks from the church house. photograph, However, the evidence petitioner presented as to the specific amount of these needs is somewhat inconclusive. January 2023 Reader Quiz: What Did You Learn? Mead Art Museum Critical Mass: Happenings, Fluxus, Performance 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. 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. Doc Mead owned Mead's Fine Bread bakery, and Mead's Quartet sang on KRBC for fifteen minutes at noon on weekdays. The Mead Corp | Encyclopedia.com I never sang much after I got out of college. In 1941, he formed his own bakery, Mead's Fine Bread, in Lubbock, Texas, adding three other bakery locations in New Mexico and a frozen dough factory in Abilene. Helpful links in machine-readable formats. This loan also prohibited petitioner from acquiring any new corporations or assets by merger, or in return for the issuance of its stock. 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. 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. Lane were chairman, CEO and president of The Earthgrains Co. (previously Campbell Taggart, Inc. and today part of Bimbo Bakeries USA), Dallas, Texas. Substantially all of the expenses claimed by Angus represented deductions for interest, depreciation, taxes, and insurance. MEAD'S FINE BREAD COMPANY, a Corporation. Petitioner's management estimated as a rule of thumb that in the acquisition of new plants it would incur losses approximately equal to acquisition cost before being able to place the new plants on a profitable basis. Will the Circle Be Unbroken, The Great Speckled Bird, and Farther Along got a fair amount of air time on a New York gospel station. and read 622 reviews: "Very nice hidden gem. 160, 169-170 (1950); Reginald C. Vanderbilt [Dec. 2059], 5 B. T. A. University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; The company used this jingle: A paper hat used by Mead's employees - "That's What I Said" "Mead's Fine Bread and Potato Chips, too" At the top is a nail file given away as a promotional item. Both he and I had deserted the little church where I starred as boy bass, and I wasnt sure of my reception by this important figure, whose bread empire now spread over West Texas, the Panhandle, eastern New Mexico, and western Oklahoma. Mead Service Co., 10 Cir., 184 F.2d 338, on appeal from a judgment of the trial court dismissing the action, . He was born February 7, 1932 to N.B. Filed: 1955-01-31 . Bill Mack: Shamrock's Midnight Cowboy Historical Marker Dates and time periods associated with this photograph. Order Enlightenment Wines Memento Mori Dandelion Mead 375-ml bottle online from The Lunar Inn & Tinys Bottle Shop. 348 U.S. 115 - law.resource.org 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. When the quartet gave up after Kneel at the Cross, the band played onto the clapping of the crowd. It had also estimated construction costs of $100,000 for the Ada plant and an additional $150,000 for equipment. Moore v. Mead Fine Bread Company, No. 121 - Federal Cases - Case Law 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. Alabama: White Cheddar Scalloped Potatoes. When it started I saw why. Mead's Fine Bread Company - New Mexico business overview: agent, contacts, address, registration date, reports and more. 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. Rands, Inc. [Dec. 9491], 34 B. T. A. 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. Anderson's Business Law and the Legal Environment, Comprehensive Volume (23rd Edition) Moore ran a bakery in Santa Rosa, New Mexico. 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. Neither Ed V. Mead nor any other officer of Angus or petitioner devoted any of his time to the affairs of Angus. Swipe Rechts Fr Ehemann: Eine SciFi Alien RomCom (Vandalar Konkubinen They only cut the price in Santa Rosa, but not in other Texas or New Mexico locations. It appears to have been made to use with a key chain as it has a hole at one end. They all market their bread under the name 'Mead's Fine Bread' and promote the product through a common advertising program. 4615. Mead's Fine Bread Company - 268904 - Santa Fe, Nm 87504 - New Mexico This https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/. Music has always had more effect on my emotions than the spoken word. ., 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. Although the terms of the Penn Mutual loan were somewhat less stringent than those of the bank loans, nevertheless, petitioner found them confining. MEAD'S BAKERY, INC. v. CO | 23 T.C.M. 607 (1964) - Leagle An encased cent in n aluminum loaf of bread. 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. It also distributes school and office supplies made by Mead and other companies and has . Mead's Fine Bread Company - Company Profile - Corporation Wiki Tell us if you know the precise location of this item. and at Hobbs, Roswell, and Clovis, New Mexico. Moore v. Mead's Fine Bread Co., 348 U.S. 115 (1954) - Justia Law Discover clat Men's Volumizing Texture Spray. No. At the time petitioner acquired the stock of Angus in connection with the May, 1, 1955, reorganization, petitioner's management decided to discontinue Angus' cattle raising activities because they constituted too great a drain on petitioner's working capital. 1. Ed V. Mead repaid the amount loaned to him by petitioner during its fiscal year ended April 30, 1958. These corporations maintain plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. MEAD'S FINE BREAD COMPANY Company Number 244244 Status Voluntary Dissolution Incorporation Date 17 August 1946 (over 76 years ago) Company Type Domestic Profit Corporation Jurisdiction New Mexico (US) Registry Page https://portal.sos.state.nm.us/BFS/on. We ordered the grilled artichokes, the lamb tart, the pozole negro, and the ricotta cavatelli. The Melbourne Storm gun has stamped himself as one of the best players in the NRL. Winter Park Chamber Immersive Art Exhibit Field Trip happening at Mead Botanical Garden, 1300 South Denning Drive, Winter Park, United States on Thu Mar 30 2023 at 11:30 am to 01:30 pm . K-12 lesson plans, tools, and other help for history teachers. Although Meads Quartet never reached the point of commanding a fee for public performances, it was in demand for revivals, special appearances, and funerals. Some clever perspective design shows the end of the loaf as well as the side. Doing business as: Mead-Raymond . Throughout its entire existence, petitioner has experienced great diffculty in obtaining adequate credit and financing. 11 Best Yeast for Mead Making: A Complete Guide for Brewers 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. ); and (3) petitioner's advances on open account to its two principal shareholders, E. P. Mead and Ed V. Mead (cf. 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. 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 . A few weeks later I joined the Navy. From this it derived minimal receipts. Neither petitioner nor any of the predecessor corporations has ever declared or paid a taxable dividend. Log In. (Howard F. Houk, Santa Fe, N. M., was with him on the brief), for appellant. The boycott gave Moore a complete monopoly of the bread business in Santa Rosa. Motor Fuel Carriers, Inc. v. United States [63-2 USTC 9697], 322 F.2d 576 (C. A. the Indianapolis Brewing Company, as his bondsmen, for alleged injuries received in the defendant's place of business. No. Date Unknown; 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. . large collection of U.S. government documents. 4615. United States Court of Appeals Tenth Circuit. 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 Fine Bread operated in Texas and New Mexico. 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. All Rights Reserved, National Bakery Associations and Resources, Baker Equipment Manufacturers and Allieds. [61-2 USTC 9562] 292 F.2d 470 (C. A. 9, 1961), certiorari denied 368 U.S. 948 (1961); Kerr-Cochran, Inc. [Dec. 22,934], 30 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. . This recipe has evolved over the past eight years. 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. 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. Our theme song was bouncy: Theres within my heart a melody . Mead's Fine Bread Co., 348 U.S. 115, 75 S. Ct. 148, 99 L. Ed. He Keeps Me Singing. 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. Harry Grant suffered a near-death experience when he was a 12-year-old, he revealed. MEAD-RAYMOND CORPORATION MEAD'S FINE - Texas business directory. 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. 6, 1955), certiorari denied 351 U.S. 939 (1956). Moore v. Mead's Fine Bread Co. - Casetext about this topic here. The first and only black cheese, creamy and mature and mixed with chilli. sections 533(b) and 535(c)(1) and (3); and section 1.1502-3, Income Tax Regs. 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. Mead's Fine Bread Co. v. Moore, 208 F.2d 777, 10th Cir. large collection of U.S. government documents. They sold bread throughout the Southwest. 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 Bread - YouTube The amount of the receivable was paid by E. P. Mead on October 16, 1958.