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. Varieties|Coin Links|About| The remaining stock in petitioner was held by other members of the Mead family during the period in question. When the young peoples class offered special music at the little church we attended (it had no choir), I was always the bass. In 1954 the company was sued by a competitor The Moore Bakery. The consolidated accumulated earnings credit is. These corporations maintain plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. And You Thought Feral Hogs Were Bad. 4615. Several other reasons caused petitioner to retain its earnings in this period. MEADOWVIEW POOL CO; MEADS STEPHEN OIL CO CO; MEAD-RAYMOND CORPORATION. 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. Fred nearly cried when I walked into the studio. extended guidance on usage rights, references, copying or embedding. 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. . Thus, it was forced to borrow funds to obtain the requisite working capital. Substantially all of the expenses claimed by Angus represented deductions for interest, depreciation, taxes, and insurance. 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. MEAD'S FINE BREAD COMPANY, a Corporation. --- Decided: Dec 6, 1954 See 348 U.S. 932, 75 S.Ct. 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. Angus sustained substantial net operating losses from the year petitioner acquired it until it was disposed of in 1960. ; Electric Regulator Corporation [Dec. 26,236], 40 T.C. Helvering v. Nat. Abilene Library Consortium and The first and only black cheese, creamy and mature and mixed with chilli. The thing I did not enjoy was the bread. Thereafter, Angus' sole activity, aside from renting the home on its farm to Ed V. Mead and selling off unneeded equipment, was to lease, on a share crop basis, a portion of its land for the cultivation of hay. University of North Texas Libraries, The Portal to Texas History, Business, Economics and Finance - Stores - Bakeries, 1 Rands, Inc. [Dec. 9491], 34 B. T. A. By using this website, you are consenting to the use of cookies. 8, 1940). Mr. Lane succeeded him as chairman and CEO until his retirement in 1987. Mead's fine bread of el paso, inc. is a New Mexico Foreign Profit Corporation filed on March 28, 1948. 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 all market their bread under the name 'Mead's Fine Bread' and promote the product through a common advertising program. Included among these factors are: (1) Petitioner's advances on open account to Mead Industries, Inc. (cf. Mead's was founded in 1918 by J.H. These corporations purchase their flour and bread wrappers as a unit. 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. A naturally leavened artisan fruited bread with sweet bites of peach and semi-candied apricot complemented by the fragrance of lavender. Mr. Justice DOUGLAS delivered the opinion of the Court. Mead's Fine Bread Co., 348 U. S. 115 (1954), a case based in part on 3, recognized the applicability of the Robinson-Patman Act to conduct quite similar to that with which National Dairy and Wise are charged here. Aside from the tenant farmer, Angus had no employee during the years in issue. Mead's Fine Bread Co., 348 U.S. 115, 75 S. Ct. 148, 99 L. Ed. 141 (1959), affd. K-12 lesson plans, tools, and other help for history teachers. Although we were careful to avoid any denominational taint in our music, some of the revivals at which we sang tested our religious backgrounds. Mead's Fine Bread Co. v. Moore, 208 F.2d 777, 10th Cir. To Join the "Encased Collectors" Email List email me: Please visit the Numismatic sites below for additional information on coin collecting. 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. Notes [ edit] MEAD'S FINE BREAD COMPANY is a New Mexico Foreign Profit Corporation filed on November 21, 1949. Throughout its entire existence, petitioner has experienced great diffculty in obtaining adequate credit and financing. 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. 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. Had professional backup: steel, drums, amped lead and bass, acoustic rhythm, Autoharp, and an absolutely wonderful Baptist Sunday school piano. . 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. 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. 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. Historic newspapers digitized from across the Red River. Our guide for the night met us and slipped us in through the back door, seating us on the front row of the choir. Theres within my heart a melody; Jesus whispers sweet and low . Rennala had packed lightly when she departed from Raya Lucaria. Context 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. 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. These corporations maintain plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. The Court said, "Congress by the Clayton Act and Robinson-Patman Act barred the use of interstate business to destroy local . Creation Information Creator: Unknown. Courthouse Plaza Northeast Dayton, Ohio 45463 U.S.A. (513) 495-6323. 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. I had to hitchhike from the college to downtown because I couldnt afford a dime for the bus. Real Good Kitchen is a shared kitchen community that provides food entrepreneurs with the equipment, production space and resources they need . . This Court cannot be bound by stipulations as to law. 1954) Annotate this Case US Court of Appeals for the Tenth Circuit - 208 F.2d 777 (10th Cir. K-12 lesson plans, tools, and other help for history teachers. Get free access to the complete judgment in MEAD'S FINE BREAD CO. v. MOORE on CaseMine. 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.) 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. 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). Filed: 1954-01-16 Precedential Status: Precedential Citations: 208 F.2d 777 Docket: 4615_1 Between May 1, 1955, and April 30, 1956, it added some 41 new delivery routes to service Oklahoma City, Ada, and Tulsa, Oklahoma. large collection of U.S. government documents. 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. The director, who had never heard Meads Quartet and didnt approve of radio gospel hymn singing in the first place, sent me. Helpful links in machine-readable formats. They had a competitor in Santa Rosa, Texas, and Mead's cut the price of their bread from 14 to 7¢. 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. . For partners and peer institutions seeking information about India; UK & Ireland . In 1954 the company was sued by a competitor The Moore Bakery. Unique identifying numbers for this photograph in the Portal or other systems. Moreover, the fact that petitioner filed its income tax returns on a consolidated basis with its subsidiary, Angus, does not affect this conclusion. Argued Nov. 17, 1954. (https://caselaw.findlaw.com/us-supreme-court/348/115.html - United States Supreme Court, MOORE v. MEAD'S FINE BREAD CO.(1954)), Home|Articles| Whats Up With All the Kangaroos on the Loose in Texas. 20, 1948 (These corporations will hereinafter sometimes be referred to as the predecessor corporations.) The acquisition of the 14 plants by the predecessor corporations between 1946 and May 1, 1955, had depleted their earnings and adversely affected their ability to add to and replace equipment during the period from 1946 to 1955. Read more Experience the joy of artisan baking using first-rate ingredients from this award-winning Venetian bakery. ACE Newsletter "The Casement" - PDF files available, https://caselaw.findlaw.com/us-supreme-court/348/115.html. 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. 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. The cases linked on your profile facilitate Casemine's artificial intelligence engine in recommending you to potential clients who might be interested in availing your services for similar . 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. They only cut the price in Santa Rosa, but not in other Texas or New Mexico locations. Jos R. Ralat is Texas Monthlys taco editor, writing about tacos and Mexican food. 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. UNT's history and scholarship, library special collections, plus a 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). For partners and peer institutions seeking information about The cattle were sold at auction in October 1955. University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; He was elected president in 1982. 'I came back, I played a . Date Unknown; Can College Sports Get More Absurd Than SMU Joining the Pac-12? The Secretary of the Navy died, and the captain ordered a memorial servicewith one days assembly time. 2, Oct. 28, 1963); Gus Blass Co. [Dec. 15,885], 9 T.C. It maintains its books and records and files its Federal income tax returns on the basis of a fiscal year ended April 30. 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! We've created an Subsequently, the Court noted that " the decisions of the federal courts in primary-line-competition cases . accessed March 4, 2023), Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. about this topic here. Free delivery for many products. As previously indicated, during the years in issue, petitioner steadily expanded its activities in the bakery business. This photograph's creation, acceptance, or submission date is unknown. 334. It had also estimated construction costs of $100,000 for the Ada plant and an additional $150,000 for equipment. Although the terms of the Penn Mutual loan were somewhat less stringent than those of the bank loans, nevertheless, petitioner found them confining. In the lower-left corner of map below, select either the pin () or the box (). Geographical information about where this photograph originated or about its content. 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. January 2023 Reader Quiz: What Did You Learn? endowment On September 12, 1955, petitioner borrowed a total of $400,000 from two banks. 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. The company's filing status is listed as Withdrawal and its File Number is 268904. Anything? Mead's Fine Bread Co. v. Moore, 208 F.2d 777 (10th Cir. Argued Nov. 17, 1954. 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. We've been unable to identify the creator(s) of this photograph. After I added the thyme, ham and sour cream, my husband declared, "This is it!". MEAD'S FINE BREAD CO. v. MOORE. Thus, in our opinion the amounts advanced to Angus during the period in issue constitute investments unrelated to petitioner's business. Alabama: White Cheddar Scalloped Potatoes. Lakewood, CO. 972. Frankly, being a hymn singer didnt cut much rank in the U.S. Navy. Hope Toole, Muscle Shoals, Alabama. This truly unique cheese is made with charcoal from the Featherstone mines in Yorkshire mixed with a wonderfully creamy mature wax coated cheddar. [Mead's Fine Bread Company], 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. 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. 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. In 1949 the El Paso and Albuquerque plants were closed because of strikes. 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. The executives invested substantially in new technology to open new markets, specifically taking pan variety bread to national distribution. Its average cash balance for the four weeks ended March 1, 1956, excluding the Penn Mutual loan from proceeds, was $40,733.86. 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. Calvary . We used some great female voices, white and black. Our guide whispered to us that sometimes the service went on until pretty late and we might want to leave. So it was an answer to prayermy mothers prayerwhen E. P. Doc Mead pulled me aside after church one Sunday and asked if I would like to sing in Meads Quartet. 529 (1933), reversed on another issue [36-1 USTC 9019] 296 U.S. 374 (1935); McClintock-Trunkey Co. [Dec. 19,316], 19 T.C. 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. 334. . Mead's Fine Bread Co. v. Moore AppealCourt of Appeals for the Tenth Circuit, Case No. 148, 99 L.Ed. Petitioner's stock was then distributed to the stockholders of the predecessor corporations. collections, new partnerships, information on research, trivia, Some of the facts have been stipulated, and the stipulations of facts, together with the exhibits attached thereto, are incorporated herein by this reference. Fills my evry longing, Keeps me singing as I go. Prior to the fine, Meads Bakery produced bread, rolls and pastry items for small retailers throughout Luton and surrounding counties. 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. Service is great. The related events are co-sponsored by the Fine Arts Department, the Theater and Dance Department, and the Women's and Gender Studies Department. The yeast I used fermented the mead to dry and still had a much higher alcohol tolerance. [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. Check out our Resources for Educators Site! They encouraged their associates to participate as speakers and officers of the American Society of Baking. At all times relevant hereto, E. P. Mead, petitioner's president, owned approximately 60 percent of the outstanding stock in petitioner. Mead and his four sons. 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. John Randolph Hopkins [Dec. 17,811], 15 T.C. Pursuant to section 537, the term "reasonable needs of the business" includes the reasonably anticipated needs of the business.
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