Mead's Fine Bread operated in Texas and New Mexico. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. Crayola Dymo Elmer's Five Star Mead Paper Mate Pen+Gear Scotch Sharpie Texas Instruments The Happy Planner The Pioneer Woman. MEAD'S FINE BREAD COMPANY (trading name, 1949-11-08 - 1960-04-29) Lalvin EC-1118. Petitioner had in its possession standard architectural plans which it expected to use in erecting these bakeries. Motor Fuel Carriers, Inc. v. United States [63-2 USTC 9697], 322 F.2d 576 (C. A. 4615_1 in the Court of Appeals for the Tenth Circuit. By His counsels guide, uphold you, With His sheep securely fold you; God be with you till we meet again! His business was wholly intrastate. I dont want to leave the impression that Meads Quartet was irreverent or cynical, or that I was. I never sang much after I got out of college. was provided by the McMurry University Library Thus, for the period during which the Penn Mutual loan was outstanding, the only means by which petitioner could finance the acquisition of new plants, diversification into new lines of business, or the purchase of equipment to any substantial extent was by the retention of earnings. As the Court of Appeals for the Fourth Circuit noted in Smoot Sand & Gravel Corporation v. Commissioner [60-1 USTC 9241], 274 F.2d 495, 500 (1960), affirming a Memorandum Opinion of this Court [Dec. 23,307(M)], certiorari denied 362 U.S. 976 (1960): We believe petitioner has amply demonstrated that as of May 1, 1955, its accumulated earnings and profits in the amount of $2,058,115.20 had been so translated into plant expansion, new equipment, increased receivables, etc., and that, therefore, they were not available to satisfy any reasonable business needs that might confront petitioner during the years in issue. ); and (3) petitioner's advances on open account to its two principal shareholders, E. P. Mead and Ed V. Mead (cf. Mead's Fine Bread Co. v. Moore, Court Case No. At any rate, his wife, our accompanist, hated hymns, especially our theme song. 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. Moreover, the business of one corporation does not include the business of another corporation if such other corporation is a personal holding company, an investment company, or a corporation not engaged in the active conduct of a trade or business. Telephone to Glory. Notes [ edit] try Mrs. Bairds. Or was that a legend? During its fiscal year ended April 30, 1957, petitioner advanced $50,000 to Angus, and during its fiscal year ended April 30, 1958, it advanced $77,889.62. And You Thought Feral Hogs Were Bad. 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. When petitioner purchased E. P. Mead's stock in Mead's Frozen Foods, Inc., and Bakers Merchandise Company, Inc., on September 14, 1961, a portion of the purchase price, $113,564.78 was carried in petitioner's books as a debt to E. P. Mead. It appears to have been made to use with a key chain as it has a hole at one end. The thing I did not enjoy was the bread. Order Enlightenment Wines Memento Mori Dandelion Mead 375-ml bottle online from The Lunar Inn & Tinys Bottle Shop. And that was no legend. Meads Fine Bread Co., his competitor, engaged in an interstate business. The Mead company is famous in legal circles for setting a monopoly precedent at the Supreme Court of the United States. ., 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. This photograph is part of the following collections of related materials. 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. They sold bread throughout the Southwest. His signature on the check didnt mean that FDRs son had been born again. He controlled the station I sang for. endowment Section 537. Section 532. Over the years, the Mead brothers and their families split up the operations. Their families describe them as proud Texans and leaders in their home and church communities. Click on the images below to view .pdf files of the inductees biography and plaque. MEAD'S FINE BREAD COMPANY, a Corporation. 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. And dont laugh at the size of the check. 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. December 6, 1954, the United States Supreme Court found that Mead's Fine Bread was in violation 2 of the Clayton Act and 3 of the Robinson-Patman Act this was a Landmark case in interstate competition. 69, 80-82 (1958). William Ernest Seatree [Dec. 7413], 25 B. T. A. 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. The last day she played, as we finished the program she slammed down a violent chord and screamed, There, you goddamn bunch of musical maniacs, and the mike was still open. awards, and more. Doc Mead owned Mead's Fine Bread bakery, and Mead's Quartet sang on KRBC for fifteen minutes at noon on weekdays. Forrest Wilder writes about politics and the outdoors. . The director, who had never heard Meads Quartet and didnt approve of radio gospel hymn singing in the first place, sent me. Theres within my heart a melody; Jesus whispers sweet and low . The company's filing status is listed as Withdrawal and its File Number is 268904. 1094 (1936); Beim Co. v. Landy [40-2 USTC 9630], 113 F.2d 897, 900 (C. A. However, to the extent petitioner can establish that it retained all or any part of its earnings and profits to meet the reasonable needs of its business, such amount will be allowed as a credit against its accumulated taxable income7 subject to the accumulated earnings tax. It never failed. 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. Doc was a lay preacher, and he often took us with him when he addressed a church in some town like Nugent or Lueders. All were visually striking. About the Producer One of the most highly awarded bakeries in Italy, established in 2005 in Veneto, specialising in an artisan range of sweet and . When the young peoples class offered special music at the little church we attended (it had no choir), I was always the bass. is part of the collection entitled: It had been contemplated that petitioner would acquire direct control of this business when it was free of the conditions imposed by said loan agreement. To Join the "Encased Collectors" Email List email me: Please visit the Numismatic sites below for additional information on coin collecting. 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. 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. They all market their bread under the name 'Mead's Fine Bread' and promote the product through a common advertising program. Here are some suggestions for what to do next. Decided Dec. 6, 1954. It has been viewed 1144 times, with 31 in the last month. Petitioner's management had estimated during the years in issue that trade accounts receivable would increase between 20 and 25 percent per year. 334. . Although we were careful to avoid any denominational taint in our music, some of the revivals at which we sang tested our religious backgrounds. These buildings were constructed by Mead Industries, Inc., according to petitioner's exact specifications. [Mead's Fine Bread Company] Description 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. Chip Gaines Bought Larry McMurtrys Historic Texas Bookstore. Both issues are fact questions. Check out our Resources for Educators Site! The cattle were sold at auction in October 1955. was provided to The Portal to Texas History The encasement material is the traditional aluminum and is the thickness of a cent. In 1955, petitioner had 1,037 employees. Leave them blank to get signed up. We do not agree with any of petitioner's contentions relating to its advances to Angus. 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. These controls are experimental and have not yet been optimized for user experience. 4615. Had professional backup: steel, drums, amped lead and bass, acoustic rhythm, Autoharp, and an absolutely wonderful Baptist Sunday school piano. https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/. [48-2 USTC 9346] 169 F.2d 186 (C. A. Anything? These corporations purchase their flour and bread wrappers as a unit. We broke up my senior year. 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. Follow the links below to find similar items on the Portal. Anderson's Business Law and the Legal Environment, Comprehensive Volume (23rd Edition) Moore ran a bakery in Santa Rosa, New Mexico. To learn more about cookies and how ASB uses them please visit our Privacy Policy page. Newspaper Page Text PITTSIIIJR.GR,GAZE. Petitioner's stock was then distributed to the stockholders of the predecessor corporations. University of North Texas Libraries, The Portal to Texas History, Business, Economics and Finance - Stores - Bakeries, 1 Mead's Fine Bread Co., 348 U.S. 115 , where such pricing was held violative of 2 (a). Bakery & Bread Shop All Sliced Bread . On another occasionthe funeral of the father of a friend of mineTommy got off on the wrong key to begin with (the organist was unfamiliar with our style) and started positively whimpering instead of singing. 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. Mr. Lane succeeded him as chairman and CEO until his retirement in 1987. . When the war was over I returned to college and, despite the GI bill, the need for extra income arose. They encouraged their associates to participate as speakers and officers of the American Society of Baking. 1922); Henry P. White [Dec. 20,611], 23 T.C. When we wanted to bring em to their knees, we did The Old Rugged Cross. We sang the first verse in close harmony, with just a little piano (On a hill far away stood an old rugged cross). 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. 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. per curiam [1929 CCH D-9307] 34 F.2d 1022 (C. A. Petitioner's position in response to this is that Angus was, during these years, engaged in the business of farming and raising cattle and that this was stipulated to by respondent. Shortly after its incorporation on April 27, 1955, petitioner, in a tax-free reorganization, acquired the assets and assumed the liabilities of the following corporations, which were then dissolved: (These corporations will hereinafter sometimes be referred to as the predecessor corporations.) What responsibilities do I have when using this photograph? 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. In 1958, petitioner also acquired common stock in Citizens National Bank, Abilene, Texas, at a cost of $11,280.4 During the years in issue petitioner maintained a portion of its assets in the form of time deposits. 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. I can feel the current moving down the line. The Registered Agent on file for this company is Secretary Of State and is located at Executive-Legislative Building, Santa Fe, NM 87503. Geographical information about where this photograph originated or about its content. It boosts volume, adds texture, and promotes growth. Mead and Faye Pauline Mead in Abilene, Texas and died April 17, 2006 in Dallas, Texas after a long battle with prostate cancer. N. E. 8th (Amarillo Blvd.) "Mead's Fine Enriched Bread" "Good and Fresh". Our guide whispered to us that sometimes the service went on until pretty late and we might want to leave. Petitioner has failed to prove that its reasonable business needs during each of the years in question exceeded the amount of earnings retained by it each year, minus the amount advanced to Angus on open account during such year. 7, 1935), affirming [Dec. 8135] 28 B. T. A. 148 99 L.Ed. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. 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. 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. Mr. Edward W. Napier, Lubbock, Tex., for respondent. Petitioner's average four week cash balances for the fiscal year ended April 30, 1956, was $360,283.37. 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. The estimated average cost of purchasing and installing the necessary equipment was $150,000 per plant. 121. Angus was organized by El Paso on August 12, 1953, to engage in raising and breeding an elite show herd of Aberdeen Angus cattle. WHEN UPON LIFES BILLOWS you are tempest tossed, When you are discouraged, thinking all is lost . 9, 1961), certiorari denied 368 U.S. 948 (1961); Kerr-Cochran, Inc. [Dec. 22,934], 30 T.C. Fire Ants Have Unleashed Chaos in Texas for Decades. This truly unique cheese is made with charcoal from the Featherstone mines in Yorkshire mixed with a wonderfully creamy mature wax coated cheddar. It maintains its books and records and files its Federal income tax returns on the basis of a fiscal year ended April 30. He Keeps Me Singing. Cf. sold the company to Fehrmead Food Corp., a Dallas-based holding company. From this, we conclude that petitioner could not have used any portion of its earnings and profits accumulated prior to May 1, 1955, to satisfy any of its business needs that accrued during the period before us. Because of the aforementioned restrictions in the Penn Mutual loan agreement, petitioner was prevented during the years in issue from directly entering such new lines of business. For its taxable years 1956 through 1958, it timely filed its income tax returns, prepared on the accrual method, with the district director of internal revenue at Dallas, Texas. 1954) December 11, 1953 Rehearing Denied January 16, 1954 Edward W. Napier, Lubbock, Tex. Date Unknown; View a full description of this photograph. MEAD'S FINE BREAD COMPANY, a Corporation. We've created an 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. However, one of the most popular and unusual shapes to collect is the bread loaf shape. Reverse of the loaf of bread encased cent. Rehearing Denied Jan. 31, 1955. Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. Funerals always brought out the worst in us. And TommyI wonder what did happen to Tommy? And I did a couple of bars on harmonica. 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). by the McMurry University Library. Pursuant to section 537, the term "reasonable needs of the business" includes the reasonably anticipated needs of the business. collections, new partnerships, information on research, trivia, 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. 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. 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. It has some wear as to be expected, some paint loss in spots on the bottom cross plate, which only adds to the character! The receivable from E. P. Mead was entered on petitioner's records without Mead's knowledge in what essentially was a year-end bookkeeping transaction whereby stock owned by petitioner was transferred to E. P. Mead. [4 USTC 1299] 72 F.2d 67 (C. A. D. C. 1934); cf. Unique identifying numbers for this photograph in the Portal or other systems. Bring on the Shiplap? UNT's history and scholarship, library special collections, plus a 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. 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. 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. 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. . No. I thought I had it made as a singing swabbie. There is only one bread shape that I know about and that is the Mead's Fine Bread encased. Mead Service Co., 10 Cir., 184 F.2d 338, on appeal from a judgment of the trial court dismissing the action, . 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. During this same period, Ed V. Mead filed joint returns with his wife, Elizabeth Mead. He was a one of a kind true hero to all his family and friends. Historic newspapers digitized from across the Red River. 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. 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. When the case was first here, Moore v. Mead Service Co., 10 Cir., 184 F.2d 338, on appeal from a judgment of the trial court dismissing the . and read 622 reviews: "Very nice hidden gem. Once, a dozen years ago, a bunch of us even made an LP of some old gospel swingers. In 1950, petitioner's four predecessor corporations employed a total of 524 persons. Abilene Library Consortium Mead's Fine Bread Co. No. The design of the encasement is such that the piece looks like a loaf of bread in three dimensions, while only being a two-dimensional object. 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. 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. It also distributes school and office supplies made by Mead and other companies and has . Terms of Use, Site Copyright 1999-2021 by Bruce Perdue Email: WebmasterAll Rights Your support aids students of all ages, rural communities, Music has always had more effect on my emotions than the spoken word. 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. 9, 1954); cf. We've identified this Texas Lege Watch: A House Republican Fights for Chicken Freedom, Texas Monthly Recognized by ASME in the 2023 National Magazine Awards. The cattle were sold at auction in October 1955. sub nom. 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. 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. 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. Categories: Pharmaceutical . In the lower-left corner of map below, select either the pin () or the box (). Sign up for our periodic e-mail newsletter, and get news about our 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. No. As of April 30, 1956, these amounted to $150,000. Side: 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. 1. 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! In order to conserve working capital and to present a more favorable balance sheet, petitioner chose to occupy these buildings under leases, rather than to purchase or construct such buildings. I had to hitchhike from the college to downtown because I couldnt afford a dime for the bus. bread from mead dregs I've done this several times.