Funerals became an almost weekly ritual. 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. Before we went on the air he would hold his nose and mutter things like How now, brown cow in order to get his voice tone down. We relished these performances, since Meads bakery paid us for such off-air advertising. The Supreme Court ruled that this was monopolistic behavior and that as an interstate and intrastate company is was illegal to cut the prices in one town without cutting their prices in all their locations. [Mead's Fine Bread Company] Side: 1 of 1 1 photograph : positive, col. ; 35 mm. Finally, any dividends distributed to either of the controlling shareholders (except E. P. Mead in 1956) would have been subject to tax at a rate of more than 50 percent. Thus, to the extent the stipulation of facts in this proceeding provides that Angus was engaged in the agricultural and livestock business during the years in issue, it is hereby set aside. No. 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). Research the case of Mead's Fine Bread Co. v. Moore, from the Tenth Circuit, 12-11-1953. 15 (1947); and World Pub. about this topic here. 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. Mead's Fine Bread Co. v. Moore AppealCourt of Appeals for the Tenth Circuit, Case No. Mead's Fine Bread Co. v. Moore, 208 F.2d 777, 10th Cir. 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. Telephone to Glory, oh, what joy divine! and Florence VanHoozer in the Bethel community east of Lawton, and was one of four kids. 121. . This was done so as to prevent a technical violation of a covenant in the Penn Mutual loan agreement. Mead and Faye Pauline Mead in Abilene, Texas and died April 17, 2006 in Dallas, Texas after a long battle with prostate cancer. See 348 U.S. 932, 75 S.Ct. 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. Decided Dec. 6, 1954. 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. awards, and more. Click on the images below to view .pdf files of the inductees biography and plaque. Can College Sports Get More Absurd Than SMU Joining the Pac-12? section 1.537-2(c)(1), Income Tax Regs.) 1249 (1927), affd. extended guidance on usage rights, references, copying or embedding. It had also estimated construction costs of $100,000 for the Ada plant and an additional $150,000 for equipment. This 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. Side: Do they still sing The Old Rugged Cross? 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. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. Subsequently, the Court noted that " the decisions of the federal courts in primary-line-competition cases . . ACE Newsletter "The Casement" - PDF files available, https://caselaw.findlaw.com/us-supreme-court/348/115.html. image file as well as independent and professional researchers. Therefore, we conclude that the advances on open account to Angus during petitioner's taxable years 1956 through 1958 represent unreasonable accumulations of surplus. As noted above, the parties stipulated that Angus, during the years in issue, was engaged in the agricultural and livestock business. These loans proved unduly restrictive. Physical Description 1 photograph : positive, col. ; 35 mm. 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. An encased cent in n aluminum loaf of bread. The best restaurants in town were located along "The Main Street of America" in the '60s. Mr. Edward W. Napier, Lubbock, Tex., for respondent. When it started I saw why. Starting out originally as a sole proprietorship and later conducting their business in the form of the four predecessor corporations which petitioner absorbed in 1955, the Meads acquired 21 bakery plants between 1938 and May 1, 1955. Some of those which influenced petitioner's management to retain its earnings in order to be able to produce or utilize these innovations were: (1) "Brown and Serve" rolls; (2) "diet bread"; (3) "round bread"; and (4) the use of plastic "end seals" in wrapping loaves of bread. Mr. Mead (1919-2006) started after high school as a bread route salesman for the Abilene, Texas bakery owned by his father and uncle. Read more The cattle raising operation took place on an 1800 acre ranch owned by Angus in Albuquerque, New Mexico. They only cut the price in Santa Rosa, but not in other Texas or New Mexico locations. BILL MEAD OBITUARY. 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. In fact, as September 1940 approached I faced zero possibilities of advanced schooling. Reverse is blank only showing the reverse of the coin. Fermented Cider Beer Wine Sake Soda Mead Kefir And Kombucha At Home Emma Christensen Pdf File Free True Brews True Brews The Everything Hard Cider Book The Big Book of Cidermaking Craft Cider Making The Everything Hard Cider Book The Joy of Brewing Cider, Mead, and Herbal Wine The New Cider Maker's Handbook Tasting Cider Modern Cider Making the . Throughout its entire existence, petitioner has experienced great diffculty in obtaining adequate credit and financing. They had a competitor in Santa Rosa, Texas, and Mead's cut the price of their bread from 14 to 7¢. I had to hitchhike from the college to downtown because I couldnt afford a dime for the bus. Angus also owned a farm of approximately 180 acres in Albuquerque which it acquired for approximately $175,000. In order to retain the market served by that plant, petitioner transported bread from its plant in Abilene, Texas, and incurred related expenses of approximately $450,000. Our theme song was bouncy: Theres within my heart a melody . Experience the joy of artisan baking using first-rate ingredients from this award-winning Venetian bakery. 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. In determining whether petitioner's accumulations of earnings and profits in the years before us were within the reasonable needs of its business, we first must consider whether prior accumulations were, in fact, sufficient to meet petitioner's needs during the period in issue. Doc was a lay preacher, and he often took us with him when he addressed a church in some town like Nugent or Lueders. When petitioner borrowed $400,000 from two banks in 1955, the Meads personally guaranteed petitioner's notes. as well as independent and professional researchers. endowment The Mead Bread Company maintained plants at Lubbock and Big Spring, Texas, and at Hobbs, Roswell, and Clovis, New Mexico. 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. Between March 7, 1956, and November 14, 1958, petitioner conducted active negotiations to purchase 12 bakery plants, one refrigerated biscuit plant, and one ice cream plant. Creation Date: Unknown. Section 1.537-3(b), Income Tax Regs. Mead's Fine Bread operated in Texas and New Mexico. The regular bassa grown man, as I thought of ithad been transferred out of town, and someone had to fill in quick. 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. The estimated average cost of purchasing and installing the necessary equipment was $150,000 per plant. I thought I had it made as a singing swabbie. Free delivery for many products. My first check as a radio gospel singer on KRBC in Abilene was for $6 and was signed by Elliott Roosevelt. "Mead's Fine Enriched Bread" "Good and Fresh". sections 533(b) and 535(c)(1) and (3); and section 1.1502-3, Income Tax Regs. 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. Count your blessings! After I added the thyme, ham and sour cream, my husband declared, "This is it!". Reverse of the loaf of bread encased cent. Log In. Courthouse Plaza Northeast Dayton, Ohio 45463 U.S.A. (513) 495-6323. But it wasnt the same. Petitioner sold its stock in First State Bank of Amarillo on August 20, 1959, for $251,650, realizing a gain of $138,430, and used a portion of these proceeds to pay these amounts. 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! As we arived, we could hear the service going on two blocks from the church house. We took requests, although most of the cards and letters asked for the jingly kind of quartet songs, which Fred disapproved of. 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. Website unavailable outside U.S. The Melbourne Storm gun has stamped himself as one of the best players in the NRL. AnyLaw is the FREE and Friendly legal research service that gives you unlimited access to massive amounts of valuable legal data. Mr. Justice DOUGLAS delivered the opinion of the Court. 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. 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. photograph 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. He suggested we do it during the prayer. Trash Compactor Parts & Accessories. In 1950, petitioner's four predecessor corporations employed a total of 524 persons. UNT's history and scholarship, library special collections, plus a Refrigerator Parts & Accessories. 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. Some clever perspective design shows the end of the loaf as well as the side. And dont laugh at the size of the check. The Jay-Rollins Library serves the students, faculty, and staff of McMurry University in Abilene. 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.) and In fact, the orchestra didnt want to quit. MEAD'S FINE BREAD COMPANY, a Corporation. 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. (Experimental). Between May 1, 1955, and April 30, 1956, it added some 41 new delivery routes to service Oklahoma City, Ada, and Tulsa, Oklahoma. Petitioner did not submit a statement of grounds, as permitted under section 534(c). 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. 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. Rehearing Denied Jan. 31, 1955. John Randolph Hopkins [Dec. 17,811], 15 T.C. Mead's Fine Bread Co. v. Moore, Court Case No. I had never taken voice lessons and did not plan on becoming a music professional, but I sang a pretty fair country bass and blended well. MEAD'S FINE BREAD COMPANY is a New Mexico Foreign Profit Corporation filed on November 21, 1949. Thus, it is necessary for us to consider whether petitioner's earnings and profits were, in any of the years herein concerned, accumulated beyond the reasonable needs of its business. 9, 1954); cf. WHEN UPON LIFES BILLOWS you are tempest tossed, When you are discouraged, thinking all is lost . Donald L. Wilson and Kenneth G. Tarlton, for the petitioner. 1094 (1936); Beim Co. v. Landy [40-2 USTC 9630], 113 F.2d 897, 900 (C. A. MEAD, BILL O. 5, 1936), reversing a Memorandum Opinion of the Board of Tax Appeals [Dec. 8588-C]. endowment Mrs. Claude M., Baird, Texas.. Historic newspapers digitized from across the Red River. The radio studios were atop the Hilton Hotel, twelfth floor. The company's filing status is listed as Existence Expired and its File Number is 256123. Argued Nov. 17, 1954. The busy boulevard in 1965, six lanes wide with abundant centered street lights. section 1.537-2(c)(3),10 Income Tax Regs. . The piece has Mead's fine Bread on the front and the back is plain. Whats Up With All the Kangaroos on the Loose in Texas. 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. 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. To my left was a French horn, behind me was a street drum, and on Normans right were two saxophones, one a soprano. God be with you till we meet again! The Meade's Fine Bread commercial became one of the most popular of its time..
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