Financial difficulties have forced the Undergraduates Laundry, largest of the student organizations, to liquidate and transfer control of the company to the New England Laundries and "Tom and Jim's" pressing establishment.
The change will not affect service for students. Those who have signed laundry contracts will have these fulfilled by the New England Laundries, which has been doing business for the undergraduate organization since its establishment. The pressing tickets sold by the business are traded in for similar books at "Tom and Jim's" where an equivalent amount of credit is given the students.
No financial statistics could be obtained from the New England Laundries, but "Tom and Jim's" establishment said that they were making good with service on about $1700 worth of tickets, for which they would receive, in bills due, less than $600. They stated also that there were no assets.
The laundry business was taken over on January 28, when the New England Laundries assumed complete control of the business which they had previously been handling through the agency of the student enterprise. On last Friday the pressing business was taken over by "Tom and Jim's."
Though Dean Hanford could not be reached, a University official stated that no changes would be necessary for the transferral of the two business branches, as both the New England Laundries and "Tom and Jim's" pressing establishment have permits entitling them to do collecting within the University buildings.