The Carlisle independent., 1919-06-05
PAINT AS AN ASSET.
Bankers Say They Lend More Money on Property When
 Buildings Are Well Painted.
AN INDICATION OF THRIFT,
One Concern Advances 25 Per. Cent More if Repainting Is Done
 Every Five Years.

GNCFy TtNC ears.
 Does it pay to paint carefully farm buildings? Does it add to the selling value of 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 hesi- tate to say that they would lend all the way from to 50 per cent. more on land where farm buildings were well painted and kept in good condition. They maintain that well kept-up and we'll painted buildings and fences are an 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 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 10 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 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 ab- solutely refuse loan on farms where the buildings were not kept up and well painted. In his Judgment, un- painted farm buildings would reduce the loan value at least 9 per cent.
 A Minnesota banker says that he is much more willing to loan money where the buildings are we'll painted. In his particular case he believes that he would loan % per cent. more than if the buildings were not properly taken care of farmer who will keep his buildings painted takes much deeper interest .n his work than one who does not Another Mime sota 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 25 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 1t 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. northern Illinois bank does not hesitate to say that it would loan fully 70 per cent more on a farm where buildings were well painted and in good order than where they were not The vice pres- dent, who answers the inquiry, goes on to say "There probably are many farmers good financially and morally who permit their buildings to remain unpainted but as a rule the most sub stantial people who live in the coun- try keep their buildings we'll painted"
 An Iowa bank. through it's vice pres ident, states that it 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 difference of al least 20 per cent.
 All this being true, jt is perfectly evident that it is a good business prop osition to keep the farm buildings well painted. They not only look berler and are more pleasing to the owner. but the farm would sell to better ad- vantage. the loan value of the property would be orpatIv. incraaSad and rho