The Ordway new era., 1919-05-02
PAINT AS AN ASSET

DoeS II pay 10 paint cnreIuliy IarH
buiIdings7 Does 1t add to the selling
value of farm when buildings arc
| properly kept up and regularly paint
ed7 careful Inquiry Of n number of
leading bankers in the Mississippi val
ley. including such states ms Iowa. ILL.,
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 5 to so 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 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 Il good
client. Another Michigan bank says
farm buildings out of repair and
needing paint indicate that the owner
ell e.,
about one-third of the nsseysed value
for loans. Where the farm buildings
are in good shape the rating is one
half. The president of 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-
pearanee-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, un-
painted farm buildings would reduce
the loan value at least 25 per cent.
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. 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 us % per
cent. more money than where the
buildings are not painted An Ohio
concern says that 1t 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 1t does make 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 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 1t would make diff
ference of at least rs per cent. in IA
vor of the farm with painted build
ings. Another Iowa concern says that
1t would make difference of at least
20 per cent