By 1894 the Main Street Brewery was once again facing financial difficulties and went in receivership one year later. Peter Schaller had left the company by this time, and William Schaller had died. The company went up for sale, and an attempted repurchase of the company for $94,000 by Michael Schaller failed, after being voided by the court. The brewery was then incorporated as the Schaller Brewing Co. with a capital stock of $200,000. Michael Schaller was president, while his son Michael Jr. was secretary, with Michael Keck as vice-president and brewmaster.
Julius Edward Sohn left his families brewery in 1900 to take the position of president in place of Michael Schaller. Theodore Ungerer and Michael Hilsinger, two local merchants involved in the alcohol industry joined the company, while Michael Keck and Michael Schaller Jr. remained with the company. J Edward Sohn Jr., along with Carl Schall and Michael Keck Jr. would join the company over the next couple of decades as vice-president, secretary, and treasurer, respectively. A bottling plant was added to the brewery at that time.
In 1919, with the passing of Prohibition, the brewery should have ceased production of alcoholic beverages, however continued to brew beers in excess of 1/2 of 1%, resulting in the federal government ultimately raiding and shutting down the brewery. The company reopened after the repeal of Prohibition, but unfortunately would close for good in 1941.