Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1919-05-29
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 if Repainting Is Done
Every Five Years.

Does 1t pay to paint carefully farm
buildings? Does 1t add to the selling
value of farm when buildings are
properly kept up and regularly paint
ed? 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
tate TO say that they would lend all the
way from ; to 80 per cent more on
land where farm buildings were we'll
painted ana 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 he safely loaned An
average of the returns from these
bankers shows that the increased loan
value because of painted buildings is
around D. 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
we're painted than where they We're
not so treated. This bank also finds
hat where houses, barns and fences
are well taken care of the farm is a
profitable proposition, and bankers in
general consider the farmer good
client Another Michigan bank says.
| farm buildings out of repair and
ceeding 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 a 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 an-
pearance of the property surrounding
! the house and barn and also the fields
and fences would be carefully observ
I'd He further says that he has no
hesitancy in saying that he would alb
| boiutely refuse loan on farms where
| the buildings were not kept up and
well painted. In his judgment, I'M
tainted farm buildings would reduce
he loan value at least % per cent.
A Minnesota banker says that he Is
much more willing to loan money
where the buildings are wen painted.
In his particular case he believes that
| h fhar
# 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
bne who does not. Another Mime
sota bank says that well painted build
lngs have resulted in securing from
his bank sometimes as high as % per
rent. more money than where the
buildings are not painted. An Ohio
concern says that it will loan IS per
cent more money on a well kept farm
where buildings are painted at least
pnce every five years. A southern Illi-
nois bank says that it has no fixed
eided 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
pc cheaper, but the amount of money
borrowed would be larger. A northern
Illinois bank does not hesitate to say
hat it would loan fully so per cent
more on a 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
pn to say: "There probably are many
farmers good financially and morally
Eho permit their buildings to remain
Imprinted, but as rule the most sub
stantial people who live in the coun
ry keep their buildings well painted
An Iowa bank, through it's vice pres
, dent, states that it would make diff
ference of at least % per cent. in ia
For of the farm with painted build
ngs. Another Iowa concern says thai
: t would make a difference of at leas
10 per cent.
n All this being true, it Is perfectly
9 evident that it is good business prop
,sition to keep the farm buildings wei
painted They not only look bette
n md are more pleasing to the owner
: ,ut the farm would sell to better ad
rantage, the loan value of the propert,
/, would be greatly increased and tn
buildings themselves would last mucl
: onger and need less repair.-Th
y American Agriculturist