The herald-advance. (Milbank, S.D.) 1890-1922, 1919-07-11
PAINT As An ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION or THRIFT.
One Concern Advances Is Per Cent.
More n Repaintino 10 Done
Every Five Years.

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Does It pay to paint carefully farm
buildings? Does 1t add to the selling
value Of a 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, I'LL
nois, Michigan, Ohio, Indiana and Mis-
souri,, reveals the fact hat in nearly
every case the bankers did not hesi-
tate to say that they would lend all the
way from 5 to so per cent. more on
land where farm buildings were we'll
They maintain that well kept-up and
we'll 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 tire returns from these
bankers shows that the increased loan
value because Of painted buildings is
around % 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 bulldogs
were painted than where they we're
not 50 treated. This hank also finds
that where houses, barns and fences
r well taken are OF the farm is q
profitable proposition, and bankers in
general consider the farmer a 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
r 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 ap-
pearanre 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 nc
hesitancy In saying that he would ab-
soluteiy refuse a loan on farms where
the buildings were not kept up ard
well painted. In his Judgment, uu-
painted farm buildings would rednce
the loan value at least % per cent.
A Minnesota banker says that he Is
much 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 4
much deeper interest N his work than
n who does net. Another Mime
sofa bank says that well painted build
ings have resulted In securing from
his bank sometimes as high as . per
cent nore moHey than where the
buildings are not painted. An Ohio
concern says that 1t will loan Is per
cent. money IN a well kept farm
where buildings are painted at least
once every five years. A southern ILL.,
nois hank says that It has no fixed
rule about this, hut 1t 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 pre-
the loan rate would not only
be cheaper, but the amount OF money
borrowed would be larger. A northern
Illinois bank Ices not hesitate to say
1t 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
on to sayff There probably are many
armers good financially and morally
who permit their buildings to remain
hut as a rule the most SUBJ
people who live in the coun-
try keep their buildings we'll painted
An Iowa bank, through its vice pres
ldent, states that 1t would make a diff
Of at least % per cent. in ia
Of the farm with painted build
ings. Another Iowa concern says that
It would make a difference of at least
20 per cent.
All this being true, 1t is perfectly
evident that it is a good business prop
to keep the farm buildings well
They not only look better
md are more pleasing to the owner,
put the farm would sell to better adj
vantage, the loan value Of the property
would be greatly increased and the
buildings themselves would last much
onger and need less repair.-The
American Agriculturist.
PAINT AND klITERAcY.