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. 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. was provided to The Portal to Texas History Sat Mar 04 2023 at 09:00 am Reach Day. Fred joined the Air Force (and died in the service), and Norman, our second tenor, became an airman too. 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 . . 1094 (1936); Beim Co. v. Landy [40-2 USTC 9630], 113 F.2d 897, 900 (C. A. What responsibilities do I have when using this photograph? 1055 (1927), affd. extended guidance on usage rights, references, copying or embedding. 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. to Mr. Justice DOUGLAS delivered the opinion of the Court. endowment Next, we have the Lalvin EC-1118, a very strong yeast that has an ABV tolerance of up to 18 percent ABV. Winter Park Chamber Immersive Art Exhibit Field Trip happening at Mead Botanical Garden, 1300 South Denning Drive, Winter Park, United States on Thu Mar 30 2023 at 11:30 am to 01:30 pm . The Meade's Fine Bread commercial became one of the most popular of its time.. photograph 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). 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). These buildings were constructed by Mead Industries, Inc., according to petitioner's exact specifications. and at Hobbs, Roswell, and Clovis, New Mexico. 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. Since petitioner did not submit a statement of grounds in response to the notification sent by respondent pursuant to section 534(b), petitioner must bear the burden of proving that all or any part of its earnings and profits has not been permitted to accumulate beyond the reasonable needs of its business. 1954) Annotate this Case US Court of Appeals for the Tenth Circuit - 208 F.2d 777 (10th Cir. 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. 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. Was born December 22, 1919 to W.L. Lalvin EC-1118. Decided Dec. 6, 1954. Leagle.com reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions. The boycott gave Moore a complete monopoly of the bread business in Santa Rosa. It boosts volume, adds texture, and promotes growth. 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. Section 1.1502-31(a)(19)(i), Income Tax Regs. . The announcers wife played the piano, and he sang baritone. 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. Mr. Mead served on numerous bank boards, on the White House Restoration Committee during the Carter Administration, was president and board member of the Billy Graham Association Foundation and helped found Christian Men, Inc. Mr. Lane served on a number of bank boards, and those of the Grocery Manufacturers Association, of Texas A&M University and the Dallas Chamber of Commerce. In the forties I rose to Abilene-wide fame as a singer on a radio gospel show. [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. William Ernest Seatree [Dec. 7413], 25 B. T. A. Mead's Fine Bread operated in Texas and New Mexico. Listed below are the cases that are cited in this Featured Case. --- Decided: Dec 6, 1954 See 348 U.S. 932, 75 S.Ct. 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. 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. 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. . To learn more about cookies and how ASB uses them please visit our Privacy Policy page. Cf. That was fabulous pay for a sixteen-year-old college freshman. People and organizations associated with either the creation of this photograph or its content. The sponsor was a bakery; the subject was the Bread of Life. We ordered the grilled artichokes, the lamb tart, the pozole negro, and the ricotta cavatelli. Thus, petitioner was, in effect, prevented by the terms of the Penn Mutual loan from expanding by means of debt financing. . Your support aids students of all ages, rural communities, See 348 U.S. 932, 75 S.Ct. and read 622 reviews: "Very nice hidden gem. Frankly, being a hymn singer didnt cut much rank in the U.S. Navy. 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. "Mead's Fine Enriched Bread" "Good and Fresh". Encasements for coins take on many different shapes. In 1955, petitioner had 1,037 employees. These corporations purchase their flour and bread wrappers as a unit. Both men provided leadership to industry groups including the American Bakers Association and the American Institute of Baking. This fact is determinative of the purpose to avoid the income tax with respect to its shareholders unless petitioner shall prove to the contrary by a preponderance of the evidence. From that time to date, their activities in this business reflect sustained growth, expansion and diversification. Although the record leaves us unconvinced that Angus at any time ever entertained an expectation that its cattle raising activities would be profitable, it is clear that when petitioner acquired Angus, no such expectation existed. 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. Mead's Fine Bread Company Argued: Nov. 17, 1954. The Premanands were fined a total of about $60,670 (38,000) plus council costs and a banning order that effectively prevents them from ever managing a food business again. Petitioner's stock was then distributed to the stockholders of the predecessor corporations. TIN: 15910281227. 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. (1954) - Free download as PDF File (.pdf) or read online for free. Featured Shops . Calvary . UNT Libraries. The regular bassa "grown man," as I thought of ithad been. Website unavailable outside U.S. There is only one bread shape that I know about and that is the Mead's Fine Bread encased. Petitioner's total accounts receivable in 1956 were $487,000 as compared to $730,000 in 1959. standards, project requests, and our services. Thus, to the extent petitioner was able to make these advances to Angus, such funds were not required for use in petitioner's business. Section 537. During the years in issue petitioner had definite plans for the acquisition of additional bakeries and for diversification into related businesses. Petitioner actually converted two of its plants in 1961 and another in 1962, at an aggregate cost of $451,125.32. Similarly, Ed V. Mead, petitioner's vice-president and the son of E. P. Mead, owned approximately 31 percent of petitioner's outstanding stock. (https://texashistory.unt.edu/ark:/67531/metapth1165909/: 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. In addition to that amount, petitioner paid interest thereon, and also attorneys' fees in the amount of $26,000. The Melbourne Storm gun has stamped himself as one of the best players in the NRL. section 1.537-2(c)(1), Income Tax Regs.) Substantially all of the expenses claimed by Angus represented deductions for interest, depreciation, taxes, and insurance. 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. I never sang much after I got out of college. 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. No. We've created an Mead's Fine Bread Co., 348 U.S. 115, 75 S.Ct. In 1950, petitioner's four predecessor corporations employed a total of 524 persons. 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. 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. BILL MEAD OBITUARY. There was a trend in the baking industry toward more credit and larger receivables. One such reason was the threat of reduced profits because of price cutting by chain stores which, in addition to their retail trade, operated bakeries. My mead has about 12% alcohol, but the yeast could go to 18%. And dont laugh at the size of the check. Serger & Overlock Machine Accessories. Members (2): Duane D Mead / Director, President, Treasurer Box 130967, Tyler, TX 75713 Mary A Mead / Director, Secretary, Director Box 130967, Tyler, TX 75713. Courthouse Plaza Northeast Dayton, Ohio 45463 U.S.A. (513) 495-6323. Petitioner was engaged in a purely intrastate bakery business. In 1957 and 1958 it purchased additional stock in this bank at a cost of $16,000 and $38,930. By April 30, 1957, these increased to $250,000 and to $421,000 as of April 30, 1958. 6, 1929), certiorari denied 280 U.S. 588 (1929); John A. Nelson Co. v. Commissioner [35-1 USTC 9164], 75 F.2d 696, 697 (C. A. True, I had been given a work concession by Abilene Christian College, where I was enrolled, but it was for only $20, which not only didnt cover tuition but didnt cover food, shelter, clothing, or bus fare. They had a competitor in Santa Rosa, Texas, and Mead's cut the price of their bread from 14 to 7¢. This photograph is part of the following collections of related materials. However, one of the most popular and unusual shapes to collect is the bread loaf shape. Had professional backup: steel, drums, amped lead and bass, acoustic rhythm, Autoharp, and an absolutely wonderful Baptist Sunday school piano. 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. God be with you till we meet again! In 1959, he merged that business with Campbell Taggart, and a few years later, he became chairman and CEO of the company. 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.) Bill Mack: Shamrock's Midnight Cowboy Marker in Ft. Worth, Mack became the announcer for the great Bob Wills. . Mr. Mead (1919-2006) started after high school as a bread route salesman for the Abilene, Texas bakery owned by his father and uncle. Daniel Vaughn is the countrys first barbecue editor, and he has eaten more barbecue than you have. The best restaurants in town were located along "The Main Street of America" in the '60s. Petitioner did not submit a statement of grounds, as permitted under section 534(c). 334. 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. 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. (Howard F. Houk, Santa Fe, N. M., was with him on the brief), for appellant. Petitioner's average four week cash balances for the fiscal year ended April 30, 1956, was $360,283.37. ; Raymond I. Smith, Inc. [Dec. 23,812], 33 T.C. Messrs. Lynell G. Skarda, Dee C. Blythe, Clovis, N.M., for petitioner. Section 535(c). Petitioner made offers on 10 of these plants. Go to Recipe. 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. Harold D. Rogers, for the respondent. Although we were careful to avoid any denominational taint in our music, some of the revivals at which we sang tested our religious backgrounds. Theres within my heart a melody; Jesus whispers sweet and low . Bins Creator: Unknown. Our guide whispered to us that sometimes the service went on until pretty late and we might want to leave. Another reason was to create a reserve against losses that might be incurred in connection with possible labor disputes. United States Court of Appeals Tenth Circuit. Similarly, petitioner carries on its books a liability in the amount of $100,716 to Ed V. Mead for stock he transferred to petitioner on September 14, 1961, in Mead Co., Inc. During the years in issue petitioner owned 98 percent of the outstanding stock in Mead's Angus Mesa, Inc. (hereinafter referred to as Angus). (https://texashistory.unt.edu/ark:/67531/metapth1165909/m1/1/: 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. Check out our Resources for Educators Site! Fred nearly cried when I walked into the studio. and Florence VanHoozer in the Bethel community east of Lawton, and was one of four kids. The Sahara Sands Motel (BELOW) became a Holiday Inn about 1963 (ABOVE) Music has always had more effect on my emotions than the spoken word. The cattle raising operation took place on an 1800 acre ranch owned by Angus in Albuquerque, New Mexico. 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. Helvering v. Nat. Several other reasons caused petitioner to retain its earnings in this period. endowment section 1.537-2(c)(3),10 Income Tax Regs. Chip Gaines Bought Larry McMurtrys Historic Texas Bookstore. Thus, the use of such new products and devices required petitioner to spend substantial amounts for advertising and new equipment such as pans and other machinery. John Randolph Hopkins [Dec. 17,811], 15 T.C. The proposed tax deficiencies were finally determined to be $149,393.66, per Tax Court decision of November 10, 1959. The cost of these additions exceeded depreciation allowed during this period by approximately $170,000. 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. However, the evidence petitioner presented as to the specific amount of these needs is somewhat inconclusive. They reported taxable income thereon which put them in tax brackets of 53 percent, 56 percent and 56 percent for these years. Section 1.1502-31(a)(18)(vi), Income Tax Regs. Petitioner is a Delaware corporation with its principal office in Amarillo, Texas. Categories: Pharmaceutical . (Experimental). Crayola Dymo Elmer's Five Star Mead Paper Mate Pen+Gear Scotch Sharpie Texas Instruments The Happy Planner The Pioneer Woman. They were the first to apply computer analysis to cost controls, bakery efficiency and organizational structure. After overseeing the merger of Campbell Taggart with Anheuser Busch, Mr. Mead retired in 1983. Lane were chairman, CEO and president of The Earthgrains Co. (previously Campbell Taggart, Inc. and today part of Bimbo Bakeries USA), Dallas, Texas. 121: Decision Date: 06 December 1954: 348 U.S. 115 75 S.Ct. If one corporation owns the stock of another corporation and, in effect, operates the other corporation, the business of the latter corporation may be considered in substance, although not in legal form, the business of the first corporation.