Deming graphic., 1919-07-22
PAINT As kN ASSET.
Danksrs Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One cenosrn Advances - Per Cent.
Mere n nspaIntIns 10 Done
Every Five Ysara

Dpts II pay - paint core1uliy fartn
buildingsf Does II add to the selling
value Of . farm when buildings are
properly kept up and regularly paint
edi A careful inquiry Of q number OF
leading bankers In the Mississippi val
ley, including such states a. Iowa, nli-
noiA Michigan, Ohio. Indiana and Mis-
souri,. reveals the fact that in nearly
svery case the bankers did not hesi-
tate to say that they wsuld lend all the
way from 0 to 20 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 mako inter
ssting 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 % treated. This bank also Hnds
that where houses, barns and fences
are well taken care Of the farm is a
profitable proposition, and bankers In
general consider the farmer q good
client. Another Michigan bank says
EARN buildings out Of repair and
needing paint indicate that the owner
IL 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 10 one
half. The president Of q middle west
ern bank says that when real estate
loans are considered, painted buildings
arc always taken inte consideration In
making an estimate. The general ap-
pearancs of the property surrounding
the house and barn and also the helds
and fences would be carefully obssrv.
cd. He further says that he has no
hesltancy in saying that he would alb.
soIutely 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 20 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 IN his work than
one who does not. Another Mime
sofa bank says that we'll painted build
ings have resulted in securing from
his bank sometimes as high as rs per
cent more money than where the
buildings are not painted. An Ohio
concern says that II w.ll loan 25 per
cent more money on a well kept farm
where buildings are painted at least
once every five years. A southern nli-
nois bank says that It has no nxed
rule about this, but II does make q 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