The Fayette falcon. (Somerville, Tenn.) 190?-current, 1919-06-06
PAINT AS AN ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One Concern Advances % Per Cent.
Mere II Rspaintlng 10 oens
Every Five Years.

LUCE ~ pay W PdlHt Sal SAuAAg lain
buildings? Does 1t add to the selling
value Of a farm when buildings are
properly kept up and regularly paint
ed2 A careful inquiry Of number OF
leading bankers in the Mississippi val.
ley, including such states as Iowa, I'LL
nOis, Michigan, Ohio, Indiana and Mis-.
souri,, reveals the fact that in nearly
every case the bankers did not besi-
tate 10 say that they would lend all the
way from 3 to 80 per cent. more on
land where farm buildings were we'll
painted and kept in good condition.
They maintain that well kept-up and
veil painted buildings and fences are
In indication of thrift and that the
thrifty farmer is a good client, and TO
him money can be safely loaned. An
average OF the returns from these
lankers shows that the increased loan
'alue because of painted buildings Is
around % per cent.
Some Of these bankers make inter.
ssting comment. A Michigan concern
rays 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 so treated. THIS bank also finds
that where houses, harms and feAcex
srs we'll taken care al the farm Is .
:srsfitahle prspositisz, aad baakerS in
general consider the farmer q Esad
ciient. Another Michigan bank says
''farm baildinEs eft Of repair and
peediBg paint Indicate that the owner
n 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 abb
solutely refuse loan on farms where
the buildings were net kept up and
we'll painted. In his Judgment, un-
painted farm buildings would reduce
the loan value at least Is per cent.
A Minnesota banker says that he Ii
much more willing to loan money
where the buildings are we'll painted.
In his particular case he believes thar
he would loan 20 per cent more than
II the buildings were not properly
taken care of. A farmer who will
keep his buildings painted takes q
much deeper interest N 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
concern says that 1t will loan % per
cent. more money on well kept farm
where buildings are painted at least
once every five years. A southern Illi-
nois bank says that II has no fixed
rule about this, but 1t does make a de-
cided difference when owners OF farm
lands apply for loans. II 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 1t would loan fully so per cent.
more on farm where buildings were
well painted and in good order than
where they were not. The vice presi-
dent, who answers the inquiry, goes
on to say: There probably are many
farmers good financially and morally
who permit their buildings to remain
implanted, but as a rule the most sub
stantial people who live in the coun-
try keep their buildings well painted"
An Iowa bank. through its vice pres
ident, states that II would make diff
ference Of at least 25 per cent. in IA
vor of the farm with painted build
ings. Another Iowa concern says that
II would make q difference of at least
20 per cent.
All this being true. II Is perfectly
evident that il Is good business prop
asition to keep the farm buildings well
painted. They not only look better
ana are more pleasing to the owner.
but the farm would sell to better adj
vantage, the loan value Of the property
would be greatly Increased and the
buildings themselves would last much
longer and need less repair.-The
A la