Jackson County journal., 1919-06-13
PAINT AS AN ASSET,
BANKERS Say They Lend More
Money on Property When
Buildings Are Well Painted. I;
AN INDICATION OF THRIFT.

Does it pay to paint carefully farm
buildings? Does 1t add to the selling.
value OF farm when buildings are
properly kept up and regularly paint
eo! A careful Inquiry of number Of
leading bankers in the Mississippi val.
ley, including such states AZ Iowa, ILL.
nois, Michigan, Ohio, Indiana and Mis-
souri,, reveals the fact that In aea riy
every case the bankers Gid nst hest.
tate to say that they would lsnl all ths
way from 5 to SO per cent mere sn
land where farm buildings we're wei
painted and kept In good condition.
Ihey maintain that well keptup anA
well painted buildings and fences arc
an indication Of thrift and that tbs
tnrlfty farmer Is a good client, and to
MIN money can be safely loaned. An
average of the returns from thss,
bankers shows that the increas sed lean
'aiue because Of painted buildings ID
around - per cent.
Sore or these bankers make inter.
esting comment A Michigan concern
says that while not especially sre-
pared to advise definitely in response
TO this inquiry. the officers would lean
more money on farms where buildings
were painted than whore they were
not so treated. This bank alss nnda
that where houses, barns and feaces
are we'll taken care Of the farm ts n
profitable proposition, and baakers ia
general consider the farmer a xeod
client Another Michigan bank rars
larm bundings out Of repair and
needing paint Indicate that the evner
is slow pay" Such farms are rated M
about one-third Of the assessed vaIus
for loans. Where the farms buildings
are In good shape the rating Is sHe-
hair. The president Of q 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 mouse and barn and also the fields
and fences would be carefully Obsery-
ed. He further says that he has mn
hesitancy In saying that he would alb
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 25 per cent
A Minnesota banker says that he IN
much more willing to loan money
where the buildings are well paInted
In mis- 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 q
much deeper interest N his work than
one who does not. Another Mime
sofa bank says that we'll painted brifd-
ings have resulted in securing from
his bank sometimes as high as IS per
cent more money than where the
buildings are not painted. An ohis
cohcern says that 1t will loan IS peY
cent more money on a we'll kept fnrm
where buildings are painted at least
once every five years A southern Hi.
nois bank says that 1t has 10 fixed
rule about this, but It does make q de-
cided difference when owners of farm
lands apply for loans. II the buildings
are we'll painted and thus we'll pro
served the loan rate would not enly
be cheaper, but the amount Of money
borrowed would be larger. A northern
Illinois bank does not hesitate to saw
that it would loan fully so per cent.
more on farm where buildings were
we'll. 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 gobd financially and morally
who permit their buildings to remain
unpeinted. 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
fdent, states that 1t would make a dff.
ference of at least 25 per cent. IN fa.
vor Of the farm with painted bnfld.
ings. Another Iowa concern says that
1t would make difference of at least
20 per cent.
All this being true, II Is perfectly
evident that 1t is good business prop-
osition to keep the farm building. well
painted. They not only look better
and are more pleasing to the owner.
but the farm would sell to better ad-
vantage, the loan value of the property
would be greatly increased and the
buildings themselves would last much
longer and need less repair.-The
American Agriculturist 1