Okolona messenger. (Okolona, Miss.) 1900-current, 1919-04-17
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.
More If Ropainting Is Done
Every Five Years.

! 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 hest
I 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 a good client, and to
him money can be safely loaned. An
average of the returns from these
bankers shows that the increased lean
value because of painted buildings is
around 30 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 q
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 n 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. UNI
painted farm buildings would reduce
the loan value at least % 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
II 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 rot. Another Mime |
sofa baEi says that well painted build |
ings hJve resulted In securing from
his bank sometimes as high as % per
cent mere money than where the |
buildings are not painted An Ohio |
concern says that it will loan % per |
cent. more money on well 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, hut it does make a 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 lHrger. A northern
Illinois bank does Not hesitate to say
that it would loan July 80 per cent.
more en- a farm where buildings were
well painted and in good order than
where they were not. The vice prpSl
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 it's vice pres
ldent, states that it would make DIFF
ference of 1T least % per cent. in ia
r0r of the farm with painted build
ings. Another Iowa concern SAYS that
It would make difference of at least
20 per cent.
All this being true, It is perfectly
evident that il is a good business prop
osticn TO keep the farm bindings well
painted, They not only lonk better
md are more pleasing to the ownrr,
but the farm would sell to better adj
The loan value Of The property
would he greatly increased aud The
themselves would laSf much
oncer and need less rcpair.-The
4 npriglp ArI.ip1ifllrisf