Abbeville progress. (Abbeville, Vermilion Parish, La.) 1913-1944, 1919-05-03
PAINT AS AN ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One Concern Advances rs Per Cent.
More II RePalntins Is Done
Every Five Years.

Does II pay 70 paint carefully farm
buildings? Does # add 70 the selling
value OF farm when buildings are
properly kept UP md regularly paint
ed7 A careful inquiry OF number Of
leading bankers In the Mississippi val
ley, including such states as Iowa, III
nols, Michigan, Onto. Indiana and Mis-
sOuri, reveals the fact that In nearly
every case the bankers did not hest
tate 10 say that they would lend all tho
way from 3 10 80 per cent. more on
lnnd where farm buildings were well
painted and kept in good condition.
They maintain that well kPpt-up md
well painted buildings md fences are
an Indication Of thrift and that the
thrifty farmer iE n good client, and 10
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
estng comment a Michigan concern
says that. while not especially pre-
pared to advise definitely In response
10 this inquiry, the officers would loan
more money on farms whore buildings
were painted thRn where they were
not 50 treated This bank also finds
that whore houses, barns and fences
are well taken care OF the fnrm II q
profitable proposition, and bankers In
general consider the farmer u good
client. Another Michigan bank says
farm buildings out Of repair and
/ needing paint indicate that the owner
| is slow pay" Such farms are rnted ut
about One-third Of the assessed value
for loans. Where the farm buildings
/ are IN good shape the rating Is one
hall The president OF n middle west
ern hHnk 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 fuItheF says that he has no
.-~-.'.-s-, = sn-:say $40 ne @6II0 aD
. sOlUtely refuse loan on farms where
the buildings were not kept up and
we'll painted III his Judgment. I'M
painted farm buildings would reduce
the loan value Of least % per cent.
A Minnesota banker -Hys that he Is
much more willing TO loan money
where the buildings are we'll painted
In his particular case he believes that
! unt1ld In,
/ 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 not. Another Mime
sofa bank says that we'll printed build
lngs have resulted IN securing from
his bank sometimes m high ms % per
cent. more money thnn 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 MI
nois hank says that Il has no haPd
rule about this, but It does make de-
Cldcd 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 hank does not hesitate to sHy
that Il 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 presl-
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 hut as rule ne most sub
5tRntisl people who I'VE IN the coun-
try keen their h'-rf'rrr ell painted"
An Iowa hank, through it, vice pres
ident, states that II would make dlf-
ference Of al least Is per cent. In ia
vor of the farm with painted build.
ings AnOfher Iowa concern says that
It would make a difference Of az least
20 per cent.
All this being trne, II is perfectly
evident that Il Is good business prnp.
oslton to keep the farm buildings 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 he greatly Increased md the
buildings themselves would last much
longer and need less repaIr.-Tbs
American Agricultural.