They foresaw the promise of whole grain breads, ultimately renaming the company after the brand of its market-leading products, Earth Grains. by the McMurry University Library. they all market their bread under the name "Mead's Fine Bread" and promote the product through a common advertising program. It tasted a bit old. 'I came back, I played a . Basic information for referencing this web page. The regular bassa "grown man," as I thought of ithad been. K-12 lesson plans, tools, and other help for history teachers. 1055 (1927), affd. Mead and his four sons. 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. As previously indicated, during the years in issue, petitioner steadily expanded its activities in the bakery business. consistently emphasize the unreasonably low prices and the predatory intent of the defendants." Your support aids students of all ages, rural communities, MEAD'S FINE BREAD CO. v. MOORE. Experience the joy of artisan baking using first-rate ingredients from this award-winning Venetian bakery. People and organizations associated with either the creation of this photograph or its content. 121 Argued November 17, 1954 Decided December 6, 1954 348 U.S. 115 CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE TENTH CIRCUIT Syllabus Petitioner sued respondent for treble damages for violations of 2 of the Clayton Act and 3 of the Robinson-Patman Act. . An expert in cost controls, he rose through the ranks to be named controller in 1956 and vice-president, treasurer and CFO in 1965. 1922); Henry P. White [Dec. 20,611], 23 T.C. I thought I had it made as a singing swabbie. 145, where such pricing was held violative of 2(a). 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. The director of Meads Quartet was a big blond guy named Fred, who worked in a downtown office. When the quartet gave up after Kneel at the Cross, the band played onto the clapping of the crowd. extended guidance on usage rights, references, copying or embedding. 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. We've identified this The next autumn, the quartet regrouped (it had disbanded for the summer), and Fred asked the a cappella director at the college to please send him down a good bass. We ordered the grilled artichokes, the lamb tart, the pozole negro, and the ricotta cavatelli. Petitioner has failed to meet its burden of proof on this ultimate issue. 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. 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. Mead's Fine Bread operated in Texas and New Mexico. The loan agreement also prevented petitioner from acquiring any subsidiaries in addition to Mead's Angus Mesa, Inc. Some clever perspective design shows the end of the loaf as well as the side. That was fabulous pay for a sixteen-year-old college freshman. Section 1.537-3(b), Income Tax Regs. Mr. Edward W. Napier, Lubbock, Tex., for respondent. Log In. 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. is part of the collection entitled: Section 1.1502-31(a)(19)(i), Income Tax Regs. accessed March 4, 2023), The proposed tax deficiencies were finally determined to be $149,393.66, per Tax Court decision of November 10, 1959. large collection of U.S. government documents. Bring on the Shiplap? The thing I did not enjoy was the bread. But he was a good sport. Co. v. United States [47-1 USTC 9280], 72 F.Supp. It has been viewed 1144 times, with 31 in the last month. 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. In fact, as September 1940 approached I faced zero possibilities of advanced schooling. is part of the collection entitled: TIN: 15910281227. Funerals became an almost weekly ritual. If you fill out the first name, last name, or agree to terms fields, you will NOT be added to the newsletter list. There was a trend in the baking industry toward more credit and larger receivables. The cattle raising operation took place on an 1800 acre ranch owned by Angus in Albuquerque, New Mexico. sold the company to Fehrmead Food Corp., a Dallas-based holding company. We used some great female voices, white and black. Real Good Kitchen is a shared kitchen community that provides food entrepreneurs with the equipment, production space and resources they need . Included among these factors are: (1) Petitioner's advances on open account to Mead Industries, Inc. (cf. Commissioner v. Ehrhart [36-1 USTC 9142], 82 F.2d 338 (C. A. 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. . 160, 169-170 (1950); Reginald C. Vanderbilt [Dec. 2059], 5 B. T. A. 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. "Mead's Fine Enriched Bread" "Good and Fresh". 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. From this it derived minimal receipts. Petitioner was engaged in a purely intrastate bakery business. Reference to our Findings of Fact indicates that petitioner has clearly demonstrated that in each of the above-described instances it used its funds for legitimate business reasons and that it has rebutted any inference of unreasonable accumulations arising from such transactions. photograph 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. photograph, 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. Historic newspapers digitized from across the Red River. MEAD'S FINE BREAD COMPANY, a Corporation: Docket Number: No. 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. 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. 121. During the years in issue, the course pursued by petitioner with regard to expansion remained the same. Real Good Kitchen. 1. Date Unknown; awards, and more. They were the first to apply computer analysis to cost controls, bakery efficiency and organizational structure. 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. These buildings were constructed by Mead Industries, Inc., according to petitioner's exact specifications. The Meade's Fine Bread commercial became one of the most popular of its time.. These loans proved unduly restrictive. accessed March 4, 2023), Angus sustained substantial net operating losses from the year petitioner acquired it until it was disposed of in 1960. Physical Description 1 photograph : positive, col. ; 35 mm. God Be With You Closing theme of Meads Quartet. 121. Creator: Unknown. Creation Date: Unknown. awards, and more. Sign into add some. He appointed me to reorganize the quartet, took out half a page in the newspaper to announce itand paid us $15 a week. 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. This photograph's creation, acceptance, or submission date is unknown. 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. Harold D. Rogers, for the respondent. Mead's Fine Bread Co., 348 U.S. 115, 75 S.Ct. Trash Compactor Parts & Accessories. In 1958 they consolidated the company. 148 99 L.Ed. 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. Subsequently, the Court noted that 'the decisions of the federal courts in primary-line-competition cases * * * consistently emphasize the unreasonably low prices and the predatory intent of the defendants.' 69, 80-82 (1958). One such factor is the rapid growth of the four predecessor corporations between October 1946 and May 1, 1955, whereby they acquired 14 additional plants and doubled their number of employees. On September 14, 1961, petitioner also purchased all of Mead's Frozen Foods, Inc., for $97,727. Petitioner and its affiliate, Angus, had gross income, cost of goods sold, operating expenses, and taxable income6 for the years in question, as follows: Petitioner retained all of its earnings during the years in issue. Meads Quartet didnt need all that support system. All were visually striking. [Mead's Fine Bread Company], Mead's Fine Bread Co. No. Angus had acquired these cattle at a cost of $129,734. In 1949 the El Paso and Albuquerque plants were closed because of strikes. . (Howard F. Houk, Santa Fe, N. M., was with him on the brief), for appellant. We do not believe that this is a correct interpretation of the applicable regulations.
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