The Columbus courier. [volume] (Columbus, Luna County, N.M.) 1911-1920, 1919-04-18
PAINT As AN ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT,
One Concern Advances rs Per Cent.
More " RspaIntlne ls Done
Every Five Nsara


Does Il pay to paint carefully farm
bulldlngsi Does u add 10 the selling
value OF a farm when buildings are
property kept up and regularly paint
ed1 A careful inquiry Of a number OF
leading bankers In the Mississippi vail
ley, including such states as Iowa, llli-
nnls. Michigan. Ohio. Indiana and Mis-
souri,. reveals the fact that In nearly
every case the bankers did not hesl-
tate to say that they would lend all the
way from 5 TO 30 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 tho
thrifty farmer Il a good client, and 10
him money can be safely loaned. An
average OF ne returns from these
bankers shows that the Increased loan
value because OF painted buildings Is
around p 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
10 this inquiry. the officers would loan
more money on farms where buildings
were painted than where they were
not 80 treated THIS bank also hnds
that where houses. barns and fences
are well taken care OF the farm Ia 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
Il slow pay" Such farms are rated az
about one-thlrd Of the assessed value
for loans. where the farm buildings
are In good shape the rating Ia one
half. The president OF a middle vest
ern bank says that when real estate
loans are considered. painted buildings
are always taken into consideration In
making an estimate. Ths general APP
pearance a the property surrounding
the house and barn and also the fields
and fences would be carefully observ-
cd. lie further says that he has no
hesltancy In saying that he would alb
solutely refuse n loHn OF farms where
the buildings were not kept up and
well painted. In his Judgment un-
painted farm buildings would reduce
the loan yalus at hast % per ent
A Minnesota banker says that he IL
much more willing 10 loan money
where the buildings are well painted.
In his particular case he believes That
he would loan 20 per cent. more than
II the buildings were no properly
taken cure Of. A farmer who will
keep HIS buildings painted takes a
much deeper interest m his work than
one who does not. Another Mime
sofa bank says that well painted build
lngs have resulted In securing from
his bank sometimes as high as % per
cent. more money than where the
buildings are not painted. An Ohio
oncer says that Il will loan rs per
cent more money on q well kept farm
once every Ave years. A southern MI
nois bank says that Il has no fixed
rule about this, but Il Toes make n de-
cided difference when owners OF farm
lands apply for loans II the buildings
are well painted and nus well pre-
served the loan rate would not only
he cheaper. but the amount OF money
borrowed would DO larger. A northern
Illinois bank does not hesitate 10 say
that Il would loan fully 30 per cent.
more on a farm where buildings were
well painted and In good order than
where they were not. The vice presl-
dent. who answers the inquiry. goes
on 10 say There probably are many
farmers good financially and morally
who permit their buildings 10 remain
implanted. but Al a rule the o sub
stantini people who live In the coun-
try keep their buildings well painted"
An Iowa bank. through Its vice pres
ident, states that Il would make a DIFF
ference OF at least 20 per cent. In IA
vor OF the farm with painted build
inrs. Another Iowa concern says that
II would make n difference OF at least
% per cent
All this being true. n Is perfectly
evident that Il Is a good business prop.
oslllon 10 keep the farm buildings well
painted. They not only look better
and are more pleasing 10 the owner,
hut the farm would sell 20 better adj
vantage. the loan value % the property
would be- greatly increased and tho
buildings themselves would last much
longer and need less repair ~