These corporations purchase their flour and bread wrappers as a unit. Descriptive information to help identify this photograph. Section 1.1502-31(a)(18)(vi), Income Tax Regs. I never sang much after I got out of college. 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. New York, USA Memento Mori combines wildflower honey, orange peel, and dandelions foraged at peak bloom to create a sensory experience akin to strolling in a meadow on the first warm day of spring. extended guidance on usage rights, references, copying or embedding. 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. In 1958, when the machinery became available in the areas in which petitioner operated, it began to conduct active negotiations with Baker Process Company and American Machine & Foundry Company, two companies which manufactured and installed continuous mix equipment. Section 1.1502-31(a)(19)(i), Income Tax Regs. 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.' Mead and his four sons. MEAD, BILL O. 145, where such pricing was held violative of 2(a). Thus, for example, in March 1955, shortly before the reorganization occurred, one of the predecessor corporations acquired a large bakery plant in Oklahoma City, Oklahoma. This corporate entity was filed approximately seventy-four years ago on Tuesday, November 8, 1949 , according to public records filed with Texas Secretary of State. 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. AnyLaw is the FREE and Friendly legal research service that gives you unlimited access to massive amounts of valuable legal data. to Historic newspapers digitized from across the Red River. Service is great. These structures were, therefore, suitable solely for baking purposes. 8, 1940). ); and (3) petitioner's advances on open account to its two principal shareholders, E. P. Mead and Ed V. Mead (cf. Respondent sells bread in Farwell, Texas, a town which it serves with a bread truck operating out of Clovis, New Mexico. Sick bucks a week. Mead's Fine Bread Company filed as a Domestic For-Profit Corporation in the State of Texas and is no longer active. 1094 (1936); Beim Co. v. Landy [40-2 USTC 9630], 113 F.2d 897, 900 (C. A. It never failed. Commissioner v. Cummings [35-2 USTC 9383], 77 F.2d 670 (C. A. 121. The amount of the receivable was paid by E. P. Mead on October 16, 1958. 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. The Mead Bread Company maintained plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. Our guide for the night met us and slipped us in through the back door, seating us on the front row of the choir. . Petitioner contends that for purposes of computing this credit it is permitted to consider the needs of Angus, even though Angus may not have been actually engaged in any business, in determining the reasonable needs of the business of the group. Mr. Lane (1924-2000), an Army veteran and graduate of Texas A&M University, joined the Campbell Taggart accounting department in 1947. Lalvin EC-1118. It has been viewed 1144 times, with 31 in the last month. In 1958 they consolidated the company. From this it derived minimal receipts. We've been unable to identify the creator(s) of this photograph. Petitioner was engaged in a purely intrastate bakery business. See 348 U.S. 932, 75S.Ct. The cattle were sold at auction in October 1955. Fourteen of these plants were acquired between 1946 and May 1, 1955. about this topic here. MEAD'S FINE BREAD COMPANY, a Corporation. Neither petitioner nor any of the predecessor corporations has ever declared or paid a taxable dividend. And what will be remembered of the high-flying anthems and hundred-voice-choir pieces of today? And that was no legend. 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 . Thus, to the extent petitioner was able to make these advances to Angus, such funds were not required for use in petitioner's business. Angus also owned a farm of approximately 180 acres in Albuquerque which it acquired for approximately $175,000. Telephone to Glory. 10, 1948), certiorari denied 335 U.S. 911 (1949). Crayola Dymo Elmer's Five Star Mead Paper Mate Pen+Gear Scotch Sharpie Texas Instruments The Happy Planner The Pioneer Woman. Bins 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). I left the fundamentalists years and years gone by and became a Presbyterian in a big church with a paid choir whose members would die of embarrassment if you suggested they sing something as awful as Power in the Blood or Whispering Hope. Sure, a lot of the hymns we sang were composed by people like Handel, Bach, Haydn, Beethoven, Mendelssohn, and Weber: We would see Jesus, for the shadows lengthen/Across the little landscape of our life, My Jesus, as Thou wilt, tho seen through many a tear,/Let not my star of hope grow dim, or disappear. But subtle and lovely as those are, the ones I remember with greatest fondness are the passionate old blood-boilers, the ones that had to do more with tears and toil than balm and bliss. New Mexico business catalog. is part of the collection entitled: Anderson's Business Law and the Legal Environment, Comprehensive Volume (23rd Edition) Moore ran a bakery in Santa Rosa, New Mexico. No. 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 . The Meade's Fine Bread commercial became one of the most popular of its time.. 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. The Penn Mutual loan contained restrictions against petitioner's incurring any indebtedness other than (1) the Penn Mutual loan, (2) indebtedness incurred in connection with the purchase of equipment, but not to exceed an aggregate of $150,000 at any time outstanding, and (3) unsecured bank loans maturing within 12 months and not exceeding $400,000. Was born December 22, 1919 to W.L. ., 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. It boosts volume, adds texture, and promotes growth. It believed that the adoption of these two lines would be advantageous because it already possessed a ready-made system which could distribute these additional products without any increase in overhead. Once, in Philadelphia, I enjoyed a comeback. Forrest Wilder writes about politics and the outdoors. and Florence VanHoozer in the Bethel community east of Lawton, and was one of four kids. Although the terms of the Penn Mutual loan were somewhat less stringent than those of the bank loans, nevertheless, petitioner found them confining. UNT's history and scholarship, library special collections, plus a collections, new partnerships, information on research, trivia, The following is a consolidated balance sheet reflecting, on a consolidated basis, the assets and liabilities of petitioner and its subsidiary, Angus, during the years before this Court. UNT Libraries. MEAD'S FINE BREAD COMPANY is a New Mexico Foreign Profit Corporation filed on November 21, 1949. Sign into add some. Abilene Library Consortium 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). Your support aids students of all ages, rural communities, 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. UNT's history and scholarship, library special collections, plus 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. The Secretary of the Navy died, and the captain ordered a memorial servicewith one days assembly time. Mead's Fine Bread Company Argued: Nov. 17, 1954. Terms of Use, Site Copyright 1999-2021 by Bruce Perdue Email: WebmasterAll Rights Leave them blank to get signed up. The company's mailing . as well as independent and professional researchers. Section 535(c). accessed March 4, 2023), The proposed tax deficiencies were finally determined to be $149,393.66, per Tax Court decision of November 10, 1959. Accordingly, the buildings required special wiring and plumbing, oversized loading platforms, and various other unique features. As of April 30, 1956, these amounted to $150,000. At all times relevant hereto, E. P. Mead, petitioner's president, owned approximately 60 percent of the outstanding stock in petitioner. 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 . . Mr. Mead (1919-2006) started after high school as a bread route salesman for the Abilene, Texas bakery owned by his father and uncle. The boycott gave Moore a complete monopoly of the bread business in Santa Rosa. Petitioner is a Delaware corporation with its principal office in Amarillo, Texas. 148, 99 L.Ed. 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. As previously indicated, during the years in issue, petitioner steadily expanded its activities in the bakery business. The crowd got quiet. Docket Number: No. and read 622 reviews: "Very nice hidden gem. 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. This truly unique cheese is made with charcoal from the Featherstone mines in Yorkshire mixed with a wonderfully creamy mature wax coated cheddar. Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. Prior to the fine, Meads Bakery produced bread, rolls and pastry items for small retailers throughout Luton and surrounding counties. I thought I had it made as a singing swabbie. Context The first and only black cheese, creamy and mature and mixed with chilli. 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. 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. They have continued to increase since that time. section 1.537-2(c)(3),10 Income Tax Regs. . 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. Angus was organized by El Paso on August 12, 1953, to engage in raising and breeding an elite show herd of Aberdeen Angus cattle. People and organizations associated with either the creation of this photograph or its content. section 1.537-2(c)(1), Income Tax Regs.) section 1.537-2 (c)(3), Income Tax Regs. Patrons have access to their extensive collections, which include more than one million items through the library and the Abilene Library Consortium. We were too good. 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. These corporations maintain plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. However, petitioner was able to enter the potato chip business indirectly when E. P. Mead and Ed V. Mead, on January 30, 1957, organized Mead Co., Inc.3 Mead Co., Inc. produced potato chips which it supplied to petitioner for distribution. Mead's Frozen Foods, Inc., was organized to permit petitioner to enter into this line of business without violating the restrictive covenants of the Penn Mutual loan. Discover clat Men's Volumizing Texture Spray. I dont want to leave the impression that Meads Quartet was irreverent or cynical, or that I was. For partners and peer institutions seeking information about Anything? All were visually striking. On February 1, 1956, petitioner refinanced them with a $600,000 loan from The Penn Mutual Life Insurance Company (hereinafter referred to as the Penn Mutual loan). 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. They foresaw the promise of whole grain breads, ultimately renaming the company after the brand of its market-leading products, Earth Grains. Petitioner made offers on 10 of these plants. crediting McMurry University Library. We used some great female voices, white and black. When the war was over I returned to college and, despite the GI bill, the need for extra income arose. As we arived, we could hear the service going on two blocks from the church house. --- Decided: Dec 6, 1954 See 348 U.S. 932, 75 S.Ct. Mead's Fine Bread Co. No. The yeast I used fermented the mead to dry and still had a much higher alcohol tolerance. Go to Recipe. Side: Petitioner's management had estimated during the years in issue that trade accounts receivable would increase between 20 and 25 percent per year. Music has always had more effect on my emotions than the spoken word. The Melbourne Storm gun has stamped himself as one of the best players in the NRL. Between the time the Oklahoma City plant was acquired and April 30, 1958, petitioner, in fact, lost $423,644.89 in connection with its operation. Lane were chairman, CEO and president of The Earthgrains Co. (previously Campbell Taggart, Inc. and today part of Bimbo Bakeries USA), Dallas, Texas. We had some touching arrangements for the lovelier songsI broke up many a time as we hummed under a tenor solo (Sweet hour of prayer, sweet hour of prayer,/Thy wings shall my petition bear) or sang What a Friend We Have in Jesus., So many of those old hymns were laboring songs: Work for the Night Is Coming, To the work! When petitioner borrowed $400,000 from two banks in 1955, the Meads personally guaranteed petitioner's notes. Notes [ edit] I night-managed a drive-in cafe right up to the week before graduation. This company has not listed any contacts yet. Filed: 1954-01-16 Precedential Status: Precedential Citations: 208 F.2d 777 Docket: 4615_1 (1954) - Free download as PDF File (.pdf) or read online for free. Click on the case name to see the full text of the citing case. 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. Frankly, being a hymn singer didnt cut much rank in the U.S. Navy. We relished these performances, since Meads bakery paid us for such off-air advertising. photograph . University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; and Check out our Resources for Educators Site! The number of companies that we have information about in our database: 442,383+ NewMexicoEnterprise.com M ME MEA K-12 lesson plans, tools, and other help for history teachers. 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. In the period involved herein, petitioner leased a number of warehouses or bakeries occupied by it from Mead's Industries, Inc. E. P. Mead owned 99 percent of the stock of this corporation during the period before us. 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. We've created an 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. See Ohio Clover Leaf Dairy Co. [Dec. 3034], 8 B. T. A. ; Electric Regulator Corporation [Dec. 26,236], 40 T.C. Angus sustained substantial net operating losses from the year petitioner acquired it until it was disposed of in 1960. The cattle raising operation took place on an 1800 acre ranch owned by Angus in Albuquerque, New Mexico. Eaten claims that he Is a paralvtlc and that on Feb. 22 he fell and broke his collar bone and that on the 2lth of the samo month he went into the saloon to dis pose of some of his stock of matches. 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 My mead has about 12% alcohol, but the yeast could go to 18%. endowment Mead's Fine Bread Co. v. Moore, 208 F.2d 777, 10th Cir. Thus, in our opinion the amounts advanced to Angus during the period in issue constitute investments unrelated to petitioner's business. It also distributes school and office supplies made by Mead and other companies and has .