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. and Immediately prior to petitioner's absorption of the four predecessor corporations, Angus possessed a herd of 100 breeding cows and a one-half interest in a prize stud bull. (Experimental). The major portion of this amount consisted of $281,000 representing proceeds from the Penn Mutual loan. Free delivery for many products. 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. 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. Drop a pin or drag to create a new rectangle. Click on the images below to view .pdf files of the inductees biography and plaque. However, the evidence petitioner presented as to the specific amount of these needs is somewhat inconclusive. By April 30, 1957, these increased to $250,000 and to $421,000 as of April 30, 1958. Featuring thousands of newspapers, photographs, sound recordings, technical drawings, and much more, this diverse collection tells the story of Texas through the preservation and exhibition of valuable resources. Bring on the Shiplap? RECIPE BELOW:This is a super simple bread using our Self Rising flour - http://youtu.be/oG3UYanvMjMYou can make this with ale, but Mead, which is a honey ale. 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. University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; bread from mead dregs I've done this several times. Decided Dec. 6, 1954. Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. At all times relevant hereto, it was contemplated that petitioner would acquire the stock of Mead Co., Inc., after it had either paid or refinanced the loan from Penn Mutual. We relished these performances, since Meads bakery paid us for such off-air advertising. collections, new partnerships, information on research, trivia, . "Mead's Fine Enriched Bread" "Good and Fresh". Melbourne Storm gun Harry Grant opens up on near-death experience Mead's Fine Bread Company - 268904 - Santa Fe, Nm 87504 - New Mexico Like most kids in that time he enjoyed fishing, playing in the creek and playing catch with his older brother, Billy B., who later played in the minor leagues. He appointed me to reorganize the quartet, took out half a page in the newspaper to announce itand paid us $15 a week. We use cookies to ensure that we give you the best experience on our website. 13 (a), 13a and 15. and read 622 reviews: "Very nice hidden gem. MEAD'S FINE BREAD CO. v. MOORE. 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. 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. There was a trend in the baking industry toward more credit and larger receivables. MEAD'S FINE BREAD CO. v. MOORE | 208 F.2d 777 | 10th Cir. | Judgment Research the case of Mead's Fine Bread Co. v. Moore, from the Tenth Circuit, 12-11-1953. January 2023 Reader Quiz: What Did You Learn? Fills my evry longing, Keeps me singing as I go. The thing I did not enjoy was the bread. PO Box 130967, Tyler, TX 75713. 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! Mr. Lane succeeded him as chairman and CEO until his retirement in 1987. Mr. Edward W. Napier, Lubbock, Tex., for respondent. The Mead Corporation. crediting McMurry University Library. Throughout its entire existence, petitioner has experienced great diffculty in obtaining adequate credit and financing. Lakewood, CO. 972. Harry Grant suffered a near-death experience when he was a 12-year-old, he revealed. We broke up my senior year. The regular bassa "grown man," as I thought of ithad been. Respondent sells bread in Farwell, Texas, a town which it serves with a bread truck operating out of Clovis, New Mexico. William Ernest Seatree [Dec. 7413], 25 B. T. A. While working as program director at station KCUL Photographed By Craig Doda, May 11, 2020 2. 1954) December 11, 1953 Rehearing Denied January 16, 1954 Edward W. Napier, Lubbock, Tex. Thereafter the sole activity engaged in by Angus, aside from leasing the home on its farm to Ed V. Mead and selling unneeded equipment, was to lease, on a share crop basis, a portion of its land for the cultivation of hay. Petitioner's average four week cash balances for the fiscal year ended April 30, 1956, was $360,283.37. 1949 Mead's Fine Bread Encased Cent | #347059981 People and organizations associated with either the creation of this photograph or its content. N. E. 8th (Amarillo Blvd.) In 1949 the El Paso and Albuquerque plants were closed because of strikes. L. L. MOORE, Petitioner, v. MEAD'S FINE BREAD COMPANY, A Corporation As we arived, we could hear the service going on two blocks from the church house. This 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. At any rate, his wife, our accompanist, hated hymns, especially our theme song. Mr. Edward W. Napier, Lubbock, Tex., for respondent. 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. They had a competitor in Santa Rosa, Texas, and Mead's cut the price of their bread from 14 to 7¢. Angus also owned a farm of approximately 180 acres in Albuquerque which it acquired for approximately $175,000. Lalvin EC-1118. 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. Cf. Funerals always brought out the worst in us. Mead's Fine Bread Co. v. Moore, Court Case No. And You Thought Feral Hogs Were Bad. Sign up for our periodic e-mail newsletter, and get news about our Mead's Fine Bread Co., 348 U.S. 115, 75 S. Ct. 148, 99 L. Ed. photograph 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. about this topic here. After I added the thyme, ham and sour cream, my husband declared, "This is it!". Once, a dozen years ago, a bunch of us even made an LP of some old gospel swingers. MEAD'S FINE BREAD CO on CaseMine. 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. Tell us if you know the precise location of this item. 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.) 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 . Zoom and Pan the map as needed. 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. Bill Mack: Shamrock's Midnight Cowboy Historical Marker I thought I had it made as a singing swabbie. Members (2): Duane D Mead / Director, President, Treasurer Box 130967, Tyler, TX 75713 Mary A Mead / Director, Secretary, Director Box 130967, Tyler, TX 75713. Sign into add some. 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. Thus, in our opinion the amounts advanced to Angus during the period in issue constitute investments unrelated to petitioner's business. Mr. Lane (1924-2000), an Army veteran and graduate of Texas A&M University, joined the Campbell Taggart accounting department in 1947. 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. Context 2, Oct. 28, 1963); Gus Blass Co. [Dec. 15,885], 9 T.C. Mead's Fine Bread Co. No. Reforging Glory Chapter 1: Glory, an elden ring fanfic | FanFiction . We ordered the grilled artichokes, the lamb tart, the pozole negro, and the ricotta cavatelli. Abilene Library Consortium They all market their bread under the name 'Mead's Fine Bread' and promote the product through a common advertising program. Feb 2018 - Present5 years 1 month. MOORE v. MEAD'S FINE BREAD CO | 348 U.S. 115 | U.S. | Judgment | Law Motor Fuel Carriers, Inc. v. United States [63-2 USTC 9697], 322 F.2d 576 (C. A. 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. per curiam [56-1 USTC 9139] 227 F.2d 779 (C. A. The Registered Agent on file for this company is Secretary Of State and is located at Executive-Legislative Building, Santa Fe, NM 87503. 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. A tenor named Tommy sometimes substituted for Jimmy, and during one funeral somewhere south of Putnam, Tommy slipped and almost fell into the gravehe couldnt seem to walk and sing at the same time. They sold bread throughout the Southwest. Petitioner's stock was then distributed to the stockholders of the predecessor corporations. It also believed that since the consumption of refrigerated biscuits directly cut into the bread market, it should expand into the biscuit business to protect its share of the market. This amount would not have been sufficient to enable petitioner to conduct its operations for one day. Thus, it was forced to borrow funds to obtain the requisite working capital. He was elected president in 1982. They alleged that Mead's Fine Bread sold bread both locally and interstate, and, in the course of such business, maintained prices in interstate transactions but cut prices in intrastate transactions in petitioner's locality, thus driving petitioner out of business. 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. This Is the Most Popular Easter Recipe from Each State L. L. Moore v. Mead's Fine Bread Company, a Corporation University of North Texas Libraries, The Portal to Texas History, View a full description of this photograph, Brightness, Contrast, etc. Your support aids students of all ages, rural communities, 1. Crayola Dymo Elmer's Five Star Mead Paper Mate Pen+Gear Scotch Sharpie Texas Instruments The Happy Planner The Pioneer Woman. is part of the collection entitled: If you fill out the first name, last name, or agree to terms fields, you will NOT be added to the newsletter list. I dont want to leave the impression that Meads Quartet was irreverent or cynical, or that I was. 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. Because it had a bass lead, he even let us do Have a Little Talk With Jesus, and with his high tenor, Fred got to swinging the song more than any of us. Mr. Justice DOUGLAS delivered the opinion of the Court. 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. And what a choir! This recipe has evolved over the past eight years. United States Court of Appeals Tenth Circuit. Historic newspapers digitized from across the Red River. 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. We also provide He upped my wages to $7.50. Meads cut the price of bread in half in And TommyI wonder what did happen to Tommy? Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. 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. Section 537. Therefore, we conclude that the advances on open account to Angus during petitioner's taxable years 1956 through 1958 represent unreasonable accumulations of surplus. Citations are also linked in the body of the Featured Case. Thus, to the extent petitioner was able to make these advances to Angus, such funds were not required for use in petitioner's business. Telephone to Glory. MOORE v. MEAD'S FINE BREAD CO., 348 U.S. 115 (1954) | FindLaw . However, one of the most popular and unusual shapes to collect is the bread loaf shape. 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. Doc Mead owned Meads Fine Bread bakery, and Meads Quartet sang on KRBC for fifteen minutes at noon on weekdays. Although a portion of petitioner's sales was on a cash basis, an increasing number were being made on credit, either on weekly or 30-day payment terms. Categories: Pharmaceutical . This 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 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. The bakery business has been subject to dramatic innovations. 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. Because of the large growth of population in the cities in which petitioner's principal bakeries were located, new routes had to be continuously developed to meet competition. Thus, petitioner was, in effect, prevented by the terms of the Penn Mutual loan from expanding by means of debt financing. He was a one of a kind true hero to all his family and friends. I can feel the current moving down the line. They all market their bread under the name 'Mead's Fine Bread' and promote the product through a common advertising program. 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. 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. AnyLaw is the FREE and Friendly legal research service that gives you unlimited access to massive amounts of valuable legal data. Mead's Fine Bread Company - Company Profile - Corporation Wiki 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. Moreover, the fact that petitioner filed its income tax returns on a consolidated basis with its subsidiary, Angus, does not affect this conclusion. Mead's Fine Bread operated in Texas and New Mexico. Our Findings of Fact contains the various factors which led us to this conclusion. A few weeks later I joined the Navy. On September 14, 1961, after petitioner obtained a loan of $1,350,000 from Republic National Bank of Dallas and repaid the Penn Mutual loan, it purchased from E. P. Mead and Ed V. Mead, at their cost, all of the outstanding stock in Mead Co., Inc., for $402,863.62.