Rensselaer Semi-Weekly Republican, Volume 20, Number 61, Rensselaer, Jasper County, 4 April 1899 — Going Out of Business. [ARTICLE]

Going Out of Business.

Building and loan association business in Indiana will undergo a big change with the next twelve months. The last legislature changed the law of 1897 so that building and loan associations may go into liquidation at any time instead of giving a year’s notice as provided by the old law. Since that law went into effect no less than four associations in the state have served notice on the auditor of state of their intention of going out of business. There are in Indiana about 425 building and loan associations It is probable that no less that 25 of these will go out of business within the next twelve months. Business has found a legitimate level and an extraordinary expense account cannot be maintained.