Decided Dec. 6, 1954. That was fabulous pay for a sixteen-year-old college freshman. 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. The regular bassa grown man, as I thought of ithad been transferred out of town, and someone had to fill in quick. In our opinion, petitioner has established that, at least to some extent, it permitted its earnings and profits during this period to accumulate in order to meet the reasonable needs of its business. To my left was a French horn, behind me was a street drum, and on Normans right were two saxophones, one a soprano. See section 1.535-3(b)(ii), Income Tax Regs. Geographical information about where this photograph originated or about its content. Mead's Fine Bread Co. v. Moore, 208 F.2d 777 (10th Cir. 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. was provided by the McMurry University Library Rennala had packed lightly when she departed from Raya Lucaria. [Mead's Fine Bread Company], Big Jim took an announcers job in Lubbock, Jimmy transferred to some Oklahoma college, Norman graduated and went to New York to work on his M.A. A few weeks later I joined the Navy. He upped my wages to $7.50. 757, 764-765 (1963), on appeal (C. A. Mortgage financing could not be obtained for the installation of these special features, and petitioner found it necessary to advance to Mead Industries, Inc., approximately $80,000 for their installation.5. Mead's was founded in 1918 by J.H. Unique identifying numbers for this photograph in the Portal or other systems. It tasted a bit old. PO Box 130967, Tyler, TX 75713. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. But Doc remained approachable, the same sweet, tin-eared guy. Although Meads Quartet never reached the point of commanding a fee for public performances, it was in demand for revivals, special appearances, and funerals. The common round shape is well known in several diameters. 148 99 L.Ed. 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. 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. 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. Many cheeses have been coated in ash to enhance flavor and add a smoky undertone, but this is the first time that charcoal has been fully incorporated into a cheese. 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). . awards, and more. See 348 U.S. 932, 75 S.Ct. Moreover, the fact that petitioner filed its income tax returns on a consolidated basis with its subsidiary, Angus, does not affect this conclusion. Copyright 2022 American Society of Baking. When petitioner borrowed $400,000 from two banks in 1955, the Meads personally guaranteed petitioner's notes. 5, 1935), reversing a Memorandum Opinion of the Board of Tax Appeals [Dec. 8578-F]. More information about this photograph can be viewed below. Trash Compactor Parts & Accessories. 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. In 1959, he merged that business with Campbell Taggart, and a few years later, he became chairman and CEO of 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. We were too good. Mead Service Co., 10 Cir., 184 F.2d 338, on appeal from a judgment of the trial court dismissing the action, . 288 (1958). One of the most significant innovations in the baking industry in recent years has been the development of the continuous mix method of making bread. Experience the joy of artisan baking using first-rate ingredients from this award-winning Venetian bakery. as well as independent and professional researchers. Argued Nov. 17, 1954. ., 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. Doc was a lay preacher, and he often took us with him when he addressed a church in some town like Nugent or Lueders. 20, 1948 (These corporations will hereinafter sometimes be referred to as the predecessor corporations.) Harold D. Rogers, for the respondent. 1249 (1927), affd. . This is an automated process which produces bread of a better texture and quality at a cost of approximately 10 to 15 percent less than the conventional methods. 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. 1. For partners and peer institutions seeking information about Ed V. Mead repaid the amount loaned to him by petitioner during its fiscal year ended April 30, 1958. MEAD'S FINE BREAD COMPANY is a New Mexico Foreign Profit Corporation filed on November 21, 1949. 121. I hate to admit, even at this distance, that I brazenly pretended it was grief choking us up. Section 1.537-3(b), Income Tax Regs. It has been viewed 1144 times, with 31 in the last month. Date Unknown; Thu Mar 30 2023 at 10:30 am Mid-week S&B. Panera Bread (2516 Aloma Avenue, Winter Park, FL) . 2, Oct. 28, 1963); Gus Blass Co. [Dec. 15,885], 9 T.C. 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. During the years in issue, the course pursued by petitioner with regard to expansion remained the same. Another reason was to create a reserve against losses that might be incurred in connection with possible labor disputes. as well as independent and professional researchers. MEAD'S FINE BREAD COMPANY, a Corporation. To the work! 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. 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. We used some great female voices, white and black. The company's mailing address is None Given, None Given, TX 00000. "Mead's Fine Enriched Bread" "Good and Fresh". In the lower-left corner of map below, select either the pin () or the box (). Neither petitioner nor any of the predecessor corporations paid a taxable dividend throughout their respective existences. Had professional backup: steel, drums, amped lead and bass, acoustic rhythm, Autoharp, and an absolutely wonderful Baptist Sunday school piano. 1922); Henry P. White [Dec. 20,611], 23 T.C. 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's Fine Bread Co. v. Moore AppealCourt of Appeals for the Tenth Circuit, Case No. Thus, in 1956 petitioner began to set aside a portion of its earnings to effect these plans. During the years in issue petitioner had definite plans for the acquisition of additional bakeries and for diversification into related businesses. Their families describe them as proud Texans and leaders in their home and church communities. Hope Toole, Muscle Shoals, Alabama. That girl had a better knack for peacemaking than war, and even a hound like Radagon could be coaxed away from his aggressive mantras. . Listed below are the cases that are cited in this Featured Case. 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. 334. Funerals always brought out the worst in us. Mead's Fine Bread Company Argued: Nov. 17, 1954. Patricia Sharpe writes a regular restaurant column, Pats Pick, for Texas Monthly. To learn more about cookies and how ASB uses them please visit our Privacy Policy page. 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. He was born February 7, 1932 to N.B. Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. Citations are also linked in the body of the Featured Case. Crayola Dymo Elmer's Five Star Mead Paper Mate Pen+Gear Scotch Sharpie Texas Instruments The Happy Planner The Pioneer Woman. Over the years, the Mead brothers and their families split up the operations. The Portal to Texas History, Section 532. The capital stock and earned surplus of the predecessor corporations before the May 1, 1955, reorganization and that of petitioner immediately subsequent thereto, were as follows: Petitioner's average cash balance for the four weeks ended July 21, 1955, was $150,293.76.2 Petitioner found this amount of cash insufficient for purposes of conducting its business. Feb 2018 - Present5 years 1 month. Bakery & Bread Shop All Sliced Bread . 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.' Request UpdateGet E-Mail Alerts Text Citations (65) Cited By (4) 208F.2d777 MEAD'S FINE BREAD CO. v. Angus had acquired these cattle at a cost of $129,734. consistently emphasize the unreasonably low prices and the predatory intent of the defendants." (Howard F. Houk, Santa Fe, N. M., was with him on the brief), for appellant. Fred nearly cried when I walked into the studio. 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. Obverse reads: "Mead's Fine Bread" The encasement has wrapper lines on the right end to give it a 3-D look. --- Decided: Dec 6, 1954 See 348 U.S. 932, 75 S.Ct. Check out our Resources for Educators Site! 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. We broke up my senior year. Once, a dozen years ago, a bunch of us even made an LP of some old gospel swingers. United States Tax Court.https://leagle.com/images/logo.png. accessed March 4, 2023), Find many great new & used options and get the best deals for Vintage Advertising Lot; Mead's Fine Bread;Purina;Rook;Press on Tape and More at the best online prices at eBay! 4615_1 in the Court of Appeals for the Tenth Circuit. 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. Mr. Edward W. Napier, Lubbock, Tex., for respondent.