Donald L. Wilson and Kenneth G. Tarlton, for the petitioner. His business was wholly intrastate. The company's mailing address is None Given, None Given, TX 00000. Some of the facts have been stipulated, and the stipulations of facts, together with the exhibits attached thereto, are incorporated herein by this reference. UNT Libraries. Mrs. Claude M., Baird, Texas.. Categories: Pharmaceutical . We relished these performances, since Meads bakery paid us for such off-air advertising. 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. 'I came back, I played a . Tell us if you know the precise location of this item. and 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. [Mead's Fine Bread Company] Side: 1 of 1 1 photograph : positive, col. ; 35 mm. His signature on the check didnt mean that FDRs son had been born again. He controlled the station I sang for. 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. When the war was over I returned to college and, despite the GI bill, the need for extra income arose. 288 (1958). John Randolph Hopkins [Dec. 17,811], 15 T.C. University of North Texas Libraries, The Portal to Texas History, View a full description of this photograph, Brightness, Contrast, etc. 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. Sponsored Decision Date: 16 January 1954: 208 F.2d 777 (1953) MEAD'S FINE BREAD CO. v. MOORE. It has some wear as to be expected, some paint loss in spots on the bottom cross plate, which only adds to the character! Next, we have the Lalvin EC-1118, a very strong yeast that has an ABV tolerance of up to 18 percent ABV. Request UpdateGet E-Mail Alerts Text Citations (65) Cited By (4) 208F.2d777 MEAD'S FINE BREAD CO. v. In 1950, petitioner's four predecessor corporations employed a total of 524 persons. Meads Quartet didnt need all that support system. Researchers, educators, and students may find this photograph useful in their work. 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. No. 10, 1948), certiorari denied 335 U.S. 911 (1949). Real Good Kitchen. Here are some suggestions for what to do next. 121. 1. Cf. MEADOWVIEW POOL CO; MEADS STEPHEN OIL CO CO; MEAD-RAYMOND CORPORATION. Petitioner actually converted two of its plants in 1961 and another in 1962, at an aggregate cost of $451,125.32. 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. . In 1957 and 1958 it purchased additional stock in this bank at a cost of $16,000 and $38,930. Mr. Justice DOUGLAS delivered the opinion of the Court. . 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. (https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/: What responsibilities do I have when using this photograph? Leave them blank to get signed up. The sponsor was a bakery; the subject was the Bread of Life. Listed below are those cases in which this Featured Case is cited. collections, new partnerships, information on research, trivia, Prior to the fine, Meads Bakery produced bread, rolls and pastry items for small retailers throughout Luton and surrounding counties. 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. bread from mead dregs I've done this several times. 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. 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. Creator: Unknown. Members (2): Duane D Mead / Director, President, Treasurer Box 130967, Tyler, TX 75713 Mary A Mead / Director, Secretary, Director Box 130967, Tyler, TX 75713. In 1954 the company was sued by a competitor The Moore Bakery. 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. endowment The crowd got quiet. By April 30, 1957, these increased to $250,000 and to $421,000 as of April 30, 1958. Copy slide of a photograph of the exterior of Mead's Fine Bread company building with a horizontal line of Mead's delivery trucks visible by the curb outside the building. endowment The encasement is approximately 2 inches wide by 1 at its tallest point. Newspaper Page Text PITTSIIIJR.GR,GAZE. 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. These jingles ran on Wichita Falls radio, and TV in the late 1950's and into the 1960's. Mead's Bakery was founded in 1918 by J.H. Filed: 1954-01-16 Precedential Status: Precedential Citations: 208 F.2d 777 Docket: 4615_1 MEAD'S FINE BREAD COMPANY, a Corporation. We've been unable to identify the creator(s) of this photograph. sections 533(b) and 535(c)(1) and (3); and section 1.1502-3, Income Tax Regs. UNT's history and scholarship, library special collections, plus a The Mead Corporation. Mr. Lane (1924-2000), an Army veteran and graduate of Texas A&M University, joined the Campbell Taggart accounting department in 1947. And that was no legend. The Secretary of the Navy died, and the captain ordered a memorial servicewith one days assembly time. Forrest Wilder writes about politics and the outdoors. Their families describe them as proud Texans and leaders in their home and church communities. 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. As of April 30, 1956, these amounted to $150,000. Rands, Inc. [Dec. 9491], 34 B. T. A. 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. After I added the thyme, ham and sour cream, my husband declared, "This is it!". The mead yeast also has a fruity ester profile, so if you want to make mead that has a fruity taste, like a melomel or fruit mead, consider this yeast. William Ernest Seatree [Dec. 7413], 25 B. T. A. Obverse reads: "Mead's Fine Bread" The encasement has wrapper lines on the right end to give it a 3-D look. There is no known record of who created these encasements for Meads. I had to hitchhike from the college to downtown because I couldnt afford a dime for the bus. Petitioner's stock was then distributed to the stockholders of the predecessor corporations. The director of Meads Quartet was a big blond guy named Fred, who worked in a downtown office. 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. rirgiuio IA ais zonfokrruw, tale of the roll Lorn, ferttecikettd; t of oka'datwafromtereleisted _pedlttiilupbu berporeenAguotantoneadacloar tall SS coldly and calmly s a mortal etstur-- 4k:bloc( Exalainor,, ; , ; rf "., Jima yettliemtrul.couatica in allemadnelatta rich enoogh to by up tho vloolo State I ken down, poor aristocracy is . Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. 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. standards, project requests, and our services. Service is great. 1055 (1927), affd. Patricia Sharpe writes a regular restaurant column, Pats Pick, for Texas Monthly. The company's mailing . The proposed tax deficiencies were finally determined to be $149,393.66, per Tax Court decision of November 10, 1959. 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. It maintains its books and records and files its Federal income tax returns on the basis of a fiscal year ended April 30. . The announcers wife played the piano, and he sang baritone. The Jay-Rollins Library serves the students, faculty, and staff of McMurry University in Abilene. Our guide whispered to us that sometimes the service went on until pretty late and we might want to leave. Alabama: White Cheddar Scalloped Potatoes. People and organizations associated with either the creation of this photograph or its content. 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). Mr. Justice DOUGLAS delivered the opinion of the Court. On September 14, 1961, petitioner also purchased all of Mead's Frozen Foods, Inc., for $97,727. 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. 121. Real Good Kitchen is a shared kitchen community that provides food entrepreneurs with the equipment, production space and resources they need . January 2023 Reader Quiz: What Did You Learn? The encasement material is the traditional aluminum and is the thickness of a cent. Petitioner's average four week cash balances for the fiscal year ended April 30, 1956, was $360,283.37. 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. (https://caselaw.findlaw.com/us-supreme-court/348/115.html - United States Supreme Court, MOORE v. MEAD'S FINE BREAD CO.(1954)), Home|Articles|
The Meade's Fine Bread commercial became one of the most popular of its time.. Under the present statutory provisions dealing with the accumulated earnings tax, unless petitioner can prove to the contrary by a preponderance of the evidence, the very fact that its earnings and profits were permitted to accumulate beyond the reasonable needs of its business is determinative of the proscribed purpose. 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. Since petitioner did not submit a statement of grounds in response to the notification sent by respondent pursuant to section 534(b), petitioner must bear the burden of proving that all or any part of its earnings and profits has not been permitted to accumulate beyond the reasonable needs of its business. about this topic here. This photograph is part of the collection entitled: Abilene Library Consortium and was provided to The Portal to Texas History by the McMurry University Library . 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. Once, in Philadelphia, I enjoyed a comeback. And what a choir! as well as independent and professional researchers. In 1955, petitioner had 1,037 employees. Mead and his four sons. If the answer to this issue is in the affirmative, we must determine for each year in question what part of petitioner's earnings and profits, if any, has been retained for the reasonable needs of its business. 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. Doing business as: Mead-Raymond . Argued Nov. 17, 1954. The regular bassa grown man, as I thought of ithad been transferred out of town, and someone had to fill in quick. Bill Mack: Shamrock's Midnight Cowboy Marker in Ft. Worth, Mack became the announcer for the great Bob Wills. But he was a good sport. 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. There is only one bread shape that I know about and that is the Mead's Fine Bread encased. 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. Petitioner's total accounts receivable in 1956 were $487,000 as compared to $730,000 in 1959. 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 . Doc admitted he had a tin ear, but since he paid the freight, his recommendation wrote the ticket. [Mead's Fine Bread Company], Research the case of Mead's Fine Bread Co. v. Moore, from the Tenth Circuit, 12-11-1953. The Premanands were fined a total of about $60,670 (38,000) plus council costs and a banning order that effectively prevents them from ever managing a food business again. The cattle raising operation took place on an 1800 acre ranch owned by Angus in Albuquerque, New Mexico. When petitioner borrowed $400,000 from two banks in 1955, the Meads personally guaranteed petitioner's notes. photograph 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/. ); (2) the amount of petitioner's securities investments during the years in issue (cf. Mead Service Co., 10 Cir., 184 F.2d 338, on appeal from a judgment of the trial court dismissing the action, . The consolidated accumulated earnings credit is. We have found that petitioner in each of the years before us accumulated a portion of its earnings beyond the reasonable needs of its business. How many times have I walked slowly by an open grave, singing Alseep in Jesus while crumbling a clod of red dirt over the deceased? about this topic here. Food is delicious. 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. 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 . These jingles ran on Wichita Falls radio, and TV in the late 1950's and into the 1960's. Mead's Bakery was founded in 1918 by J.H. Mead's fine bread company is a New Mexico Foreign Profit Corporation filed On November 21, 1949. But it wasnt the same. 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. India; UK & Ireland . 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 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. . Petitioner's management had estimated during the years in issue that trade accounts receivable would increase between 20 and 25 percent per year. Commissioner v. Ehrhart [36-1 USTC 9142], 82 F.2d 338 (C. A. Although petitioner acquired a plant site in Tucson on March 13, 1958, it later abandoned the project after the years in issue because a competitor that already serviced that market announced that it was opening a plant in Tucson. Rehearing Denied Jan. 31, 1955. Rehearing Denied Jan. 31, 1955. [61-2 USTC 9562] 292 F.2d 470 (C. A. Both issues are fact questions. Mr. Mead (1919-2006) started after high school as a bread route salesman for the Abilene, Texas bakery owned by his father and uncle. While working as program director at station KCUL Photographed By Craig Doda, May 11, 2020 2. The piece has Mead's fine Bread on the front and the back is plain. In 1954 the company was sued by a competitor The Moore Bakery. Mead's was founded in 1918 by J.H. 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 of el paso, inc. is a New Mexico Foreign Profit Corporation filed on March 28, 1948. The company's filing status is listed as Withdrawal and its File Number is 268904. 2d 145, 1954 U.S. LEXIS 2742 Brought to you by Free Law Project, a non-profit dedicated to creating high quality open legal information. They only cut the price in Santa Rosa, but not in other Texas or New Mexico locations. Mead's Fine Bread Co. v. Moore, 208 F.2d 777 (10th Cir. The cattle were sold at auction in October 1955. As we arived, we could hear the service going on two blocks from the church house. 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. ., 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. 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. 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). Although Meads Quartet never reached the point of commanding a fee for public performances, it was in demand for revivals, special appearances, and funerals. Physical Description 1 photograph : positive, col. ; 35 mm. 20, 1948 (These corporations will hereinafter sometimes be referred to as the predecessor corporations.) Context awards, and more. It is our opinion that, in the computation of the consolidated accumulated earnings credit under section 1.1502-31(a)(19)(i) of the Income Tax Regulations, only the reasonable needs of the operating companies included in the group may be considered. 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. 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. We used some great female voices, white and black. Cf. From the foregoing, it is our opinion that Angus did not engage in any business during this period, particularly the business of farming or raising cattle. Lakewood, CO. 972. Petitioner, also on September 14, 1961, purchased from E. P. Mead at his cost, $66,326.94, all of the outstanding stock in Bakers Merchandise Company, Inc., Amarillo, Texas. Petitioner during the years involved herein also had definite plans for diversification into the business of manufacturing and distributing potato chips and frozen baked products. In 1958 they consolidated the company. awards, and more. 1249 (1927), affd. They had a competitor in Santa Rosa, Texas, and Mead's cut the price of their bread from 14 to 7¢. He was a graduate of Abilene High School and began a career as bread route salesman for his father and uncle's bakery in Abilene. Experience the joy of artisan baking using first-rate ingredients from this award-winning Venetian bakery. Of the 711 students enrolled in the school, 4 had their own cars. Free delivery for many products. 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. section 1.537-2 (c)(3), Income Tax Regs. 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. is part of the collection entitled: 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). In 1949 the El Paso and Albuquerque plants were closed because of strikes. Feb 2018 - Present5 years 1 month. He Keeps Me Singing. I hate to admit, even at this distance, that I brazenly pretended it was grief choking us up. It boosts volume, adds texture, and promotes growth. 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. And TommyI wonder what did happen to Tommy? 148, 99 L.Ed. See section 1.535-3(b)(ii), Income Tax Regs. The busy boulevard in 1965, six lanes wide with abundant centered street lights. Sat Mar 04 2023 at 09:00 am Reach Day. See 348 U.S. 932, 75 S.Ct. On September 12, 1955, petitioner borrowed a total of $400,000 from two banks. BILL MEAD OBITUARY. Click on the images below to view .pdf files of the inductees biography and plaque. Section 1.1502-31(a)(19)(i), Income Tax Regs. 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. photograph 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.