This type of move is common in all denominations across the county, and it's one which causes genealogists no end of trouble. We always face the question-"Where did the records go?" In the above case they will probably go either to the surviving parish or to the Archdiocese Archives on North Illinois Street here in Indy.
In most denominations it can be a real puzzle trying to find those old ledgers and histories. There is a good Indiana source that I found recently that might help in some of these cases. The book is Religion In Indiana, by the IU Press. It can be found in many major libraries around the state. Look in WorldCat and don't forget inter-library loans. Go for it!