Mead and his four sons. 9, 1954); cf. It tasted a bit old. We were too good. 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. Sign up for our periodic e-mail newsletter, and get news about our Of the 711 students enrolled in the school, 4 had their own cars. The Melbourne Storm gun has stamped himself as one of the best players in the NRL. Creation Date: Unknown. Nor can it be bound by stipulations of fact which appear contrary to the facts as disclosed by the record. Section 1.1502-31(a)(19)(i), Income Tax Regs. The company's mailing address is None Given, None Given, TX 00000. Sponsored The Sahara Sands Motel (BELOW) became a Holiday Inn about 1963 (ABOVE) 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. 334. . Had professional backup: steel, drums, amped lead and bass, acoustic rhythm, Autoharp, and an absolutely wonderful Baptist Sunday school piano. Their families describe them as proud Texans and leaders in their home and church communities. Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. 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. photograph Telephone to Glory. Discover clat Men's Volumizing Texture Spray. 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. Drop a pin or drag to create a new rectangle. 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. 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. 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. January 2023 Reader Quiz: What Did You Learn? Between the years 1955 and 1960, Angus sustained the following losses: During each of the years in issue, petitioner advanced substantial amounts on open account to Angus. Here are some suggestions for what to do next. Fred nearly cried when I walked into the studio. Filed: 1955-01-31 . During the years in issue petitioner spent a total of approximately $1,400,000 for additions to its existing plants and equipment. 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/. bread from mead dregs I've done this several times. 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. 2, Oct. 28, 1963); Gus Blass Co. [Dec. 15,885], 9 T.C. 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. Commissioner v. Ehrhart [36-1 USTC 9142], 82 F.2d 338 (C. A. Website unavailable outside U.S. as well as independent and professional researchers. Angus passively continued to hold its farm and ranch land and pay the mortgage indebtedness to which the land was subject during the years involved solely as an investment. ; Electric Regulator Corporation [Dec. 26,236], 40 T.C. 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. Bakery & Bread Shop All Sliced Bread . A car was out of the question. Sick bucks a week. Mead's Fine Bread Co., 348 U.S. 115, 75 S.Ct. [4 USTC 1299] 72 F.2d 67 (C. A. D. C. 1934); cf. Mead's was founded in 1918 by J.H. Sign into add some. (Experimental). And that was no legend. 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 section 1.537-2(c)(3),10 Income Tax Regs. They have continued to increase since that time. 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. 529 (1933), reversed on another issue [36-1 USTC 9019] 296 U.S. 374 (1935); McClintock-Trunkey Co. [Dec. 19,316], 19 T.C. Mr. Justice DOUGLAS delivered the opinion of the Court. ); and (3) petitioner's advances on open account to its two principal shareholders, E. P. Mead and Ed V. Mead (cf. In 1958 they consolidated the company. In 1953, E. P. Mead made a trip to New Jersey to inspect a bakery plant that had converted to the continuous mix method of manufacturing bread. The busy boulevard in 1965, six lanes wide with abundant centered street lights. 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. By His counsels guide, uphold you, With His sheep securely fold you; God be with you till we meet again! Some content on this site may be difficult to view. MEADOWVIEW POOL CO; MEADS STEPHEN OIL CO CO; MEAD-RAYMOND CORPORATION. Although petitioner experienced no strike or other such work stoppage in any of its plants between 1950 and 1959, losses due to such disputes were a reasonable factor for petitioner's management to consider. per curiam [56-1 USTC 9139] 227 F.2d 779 (C. A. Mead Service Company and Mead's Fine Bread Company, hereinafter referred to as Mead, were confronted with a boycott at Santa Rosa, New Mexico, which entirely deprived them of a market for their bread at that point. 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. I dont want to leave the impression that Meads Quartet was irreverent or cynical, or that I was. 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 . This Court cannot be bound by stipulations as to law. Mead Service Co., 10 Cir., 184 F.2d 338, on appeal from a judgment of the trial court dismissing the action, . The Registered Agent on file for this company is Secretary Of State and is located at Executive-Legislative Building, Santa Fe, NM 87503. I never sang much after I got out of college. 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. 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. 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. 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. I tell you, not a dry eye in the house. 6, 1955), certiorari denied 351 U.S. 939 (1956). 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. 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. . 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. was provided to The Portal to Texas History They encouraged their associates to participate as speakers and officers of the American Society of Baking. We've created an [Mead's Fine Bread Company], (https://texashistory.unt.edu/ark:/67531/metapth1165909/: Log In. This photograph is part of the following collections of related materials. The cost of these additions exceeded depreciation allowed during this period by approximately $170,000. In addition to that amount, petitioner paid interest thereon, and also attorneys' fees in the amount of $26,000. MEAD'S FINE BREAD COMPANY (trading name, 1949-11-08 - 1960-04-29) 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. 8, 1940). Your support aids students of all ages, rural communities, https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/. 9, 1961), certiorari denied 368 U.S. 948 (1961); Kerr-Cochran, Inc. [Dec. 22,934], 30 T.C. 757, 764-765 (1963), on appeal (C. A. Historic newspapers digitized from across the Red River. He upped my wages to $7.50. Normally, where one corporation owns 80 percent or more of the stock of another corporation, it may accumulate earnings to meet the subsidiary's need for funds. They all market their bread under the name 'Mead's Fine Bread' and promote the product through a common advertising program. to improve everyone's access to primary sources online. 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. Commissioner v. Cummings [35-2 USTC 9383], 77 F.2d 670 (C. A. 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. 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. But overall, great experience!" Grape Vine Cafe - Buffalo . and to 10, 1948), certiorari denied 335 U.S. 911 (1949). 886, 895 (N. D. Okla. 1947), affd. 69, 80-82 (1958). Mr. Edward W. Napier, Lubbock, Tex., for respondent. Although we were careful to avoid any denominational taint in our music, some of the revivals at which we sang tested our religious backgrounds. I had worked my way up to my own special solo, Only in Thee (Pleasures of earth, so seemingly sweet,/Fail at the last my longings to meet), when World War II broke up Meads Quartet. Count your blessings! No. Mead's Fine Bread Company Argued: Nov. 17, 1954. Physical Description 1 photograph : positive, col. ; 35 mm. 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. and Florence VanHoozer in the Bethel community east of Lawton, and was one of four kids. The ultimate issue for our decision is whether petitioner was availed of during its fiscal years ended April 30, 1956, through April 30, 1958, for the purpose of avoiding income taxes with respect to its shareholders by permitting its earnings and profits to accumulate instead of being divided or distributed. The Mead Bread Company maintained plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. 1949 Mead's Fine Bread Unusual Loaf Shape Encased Coin Wheat Penny One C 1949 Meads Fine Bread Encased Cent - Loaf Of Bread Shape -Unusual 1949 D Encased Cent - Wonder Bread - Penny For Penny Your Best Food Buy 1949 Mead's Fine Bread Figural Loaf Bakery Good Luck Penny Encased Cent 1949 Mead's Fine Bread Encased Cent Shaped Like Loaf Of Bread 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). 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. There is only one bread shape that I know about and that is the Mead's Fine Bread encased. Citations are also linked in the body of the Featured Case. Categories: Pharmaceutical . Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. Petitioner actually converted two of its plants in 1961 and another in 1962, at an aggregate cost of $451,125.32. By using this website, you are consenting to the use of cookies. 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. Once, a dozen years ago, a bunch of us even made an LP of some old gospel swingers. 1094 (1936); Beim Co. v. Landy [40-2 USTC 9630], 113 F.2d 897, 900 (C. A. In determining whether petitioner's accumulations of earnings and profits in the years before us were within the reasonable needs of its business, we first must consider whether prior accumulations were, in fact, sufficient to meet petitioner's needs during the period in issue. I hate to admit, even at this distance, that I brazenly pretended it was grief choking us up. 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. 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. They all market their bread under the name 'Mead's Fine Bread' and promote the product through a common advertising program. See 348 U.S. 932, 75 S.Ct. 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. Unique identifying numbers for this photograph in the Portal or other systems. Starting out originally as a sole proprietorship and later conducting their business in the form of the four predecessor corporations which petitioner absorbed in 1955, the Meads acquired 21 bakery plants between 1938 and May 1, 1955.
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