The daily star-mirror. (Moscow, Idaho) 1911-1939, 1919-04-26
PAINT AS AN ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One Concern Advances IS Per Cent.
More If Repainting Is Done
Every Five Years.

Does it pay to paint carefully farm
buildings? Does it add to the selling
value of a farm when buildings are
properly kept up and regularly paint
ed? A careful inquiry of a number OF
leading bankers in the Mississippi val
ley, including such states as Iowa, Hi
nois, Michigan, Ohio, Indiana and Mis-
souri,, reveals the fact that in nearly
| every case the bankers did not hest
| tate to say that they would lend all the
way from 5 to 80 per cent more on
| land where farm buildings were well
| painted and kept in good condition.
| They maintain that well kept-up and
well painted buildings and fences are
| an indication OF thrift and that the
,, thrifty farmer is good client, and to
| him money can be safely loaned. An
average Of the returns from these
| bankers shows that the increased loan
value because of painted buildings is
around % per cent.
Some Of these bankers make inter-
esting comment. A Michigan concern
says that, while not especially pre-
pared to advise definitely in response
to this inquiry, the officers would loan
more money on farms where buildings
were painted than where they were
not so treated. This bank also finds
that where houses barns and fences
are well taken care of the farm is a
profitable proposition, and bankers in
general consider the farmer a good
client Another Michigan bank says
farm buildings out of repair and
needing paint indicate that the owner
is slow pay" Such farms are rated at
about one-third of the assessed value
for loans. Where the farm buildings
are in good shape the rating is one
half The president of a middle west
ern bank says that when real estate
loans are considered, painted buildings
are always taken into consideration in
making an estimate. The general ap-
pearance of the property surrounding
the house and barn and also the fields
and fences would be carefully observ-
ed He further says that he has no
hesitancy in saying that he would alb
solutely refuse a loan on farms where
the buildings were not kept up and
well painted. In his judgment, I'M
painted farm buildings would reduce
the loan value at least % per cent.
2 A Minnesota banker says that he is
much more willing to loan money
where the buildings are well painted. |
In his particular case he believes that
he would loan 20 per cent. more than
if the buildings were not properly
taken care Of A farmer who will
keep his buildings painted takes a
much deeper interest N his work than
one who does not. Another Mime
sofa bank says that well painted build
ings have resulted in securing from
his bank sometimes as high as 25 per
cent. more money than where the
buildings are not painted An Ohio
concern says that it will loan % per
cent. more money on we'll kept farm
where buildings are painted at least
once every five years. A southern Hi
nois bank says that it has no fixed
rule about this, but it does make de-
cided. difference when owners of farm
lands apply for loans. If the buildings
are well painted and thus well pre-
served the loan rate would not only
be cheaper, but the amount of money
borrowed would be larger A northern. ,
Illinois bank does not hesitate to say
that it would loan fully so per cent.
more on farm where buildings were
we'll painted and in good order than 4
where they were not. The vice presi- :
lent, who answers the inquiry, goes
IN to say: "There probably are many 4
farmers good financially and morally I
Who permit their buildings to remain .
but as rule the most SUBJ
;tantial people who live in the coun- :
ry keep their buildings well painted" !
An Iowa bank, through its vice pres
dent, states that it would make diff
erence Of at least 25 per cent. in IA :
-or of the farm with painted build :
ngs. Another Iowa concern says that .
t would make a difference of at least
% per cent.
All this being true, 1t is perfectly :
vident that it is good business prop
sition to keep the farm buildings well
ainted. They not only look better
nd are more pleasing to the owner, :
ut the farm would sell to better adj I
antage, the loan value of the property
7ould be greatly increased and the
themselves would last much .
)nger and need less repair.-The Z
.merican Agriculturist