The Columbus dispatch. (Columbus, Miss.) 19??-1922, 1919-10-19
PAINT AS AN ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One Concern Advances IS Per Cent
More II RepaIntIng Is Done
Every Five Years.

Does II pay to paint carefully farn
buIldlngs7 Does 1t add to the selling
value of a farm when buildings are
properly kept up and regularly paint
edi 4 careful inquiry Of a number Of
leading bankers In the Mississippi val
ley, including such states as Iowa, nli-
noiS, Michigan, Ohio. Indiana and Mis-
souri,, reveals the fact that in nearly
every case the bankers did not hesi-
tate 10 say that they would lend all the
way from TO 30 per cent. more on
land where farm buildings were well
pointed and kept in good condition.
They maintain that we'll kept-up and
we'll paIDted buildings and fences are
Bl 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
yalne because Of painted buildings IL
around - pepcent.
Some of these bankers make inter.
estlng comment. A Michigan concern
SAYS that, while not especially pre-
pared 10 advise definitely in response
to this Inquiry. the officers would loan
more money on farms where buildings
were painted than where they were
mt so treated. 7'his bank also finds
that where houses, barns and fences
are well taken care of the farm is a
ptDiitnhIe proposition, and bankers in
general consider the farmer a good
client. Another Michigan bank says
afarm buildings out of repair and
needing paint indicate that the owner
Id 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 middle west
frn halik says that when real estate
lnnns are considered, painted buildings
ire always taken into consideration in
making an estimate. The general APP
IieH rance Of the property surrounding
the hnrse and barn and also the fields
ind fences would be carefully Observ-
cd. He further says that he has no
heslthncy In saying that he would ab-
hoiutely refuse a loan on farms where
the buildings were not kept up and
well painted. In his Judgment, I'M
painted farm buildings would reduce
the loan value at least 25 per cent.
A Minnesota banker says that he IL
much more willing to loan money
where the buildings are we'll painted.
IN bis particular case he believes that
Ne would loan 20 per cent. more than
R the buildings were not properly
taken care of. A farmer who will
Keep his buildings painted takes a
mitch deeper interest an his work than
hne who does not. Another Mime
y6fa bank says that well painted build
iflss have resulted in securing from
his bHnk sometimes as high as % per
cent. more money than where the
buildings are not painted. An Ohio
concern says that 1t will loan 25 per
cent, more money on a well kept farm
where buildings are painted at least
once every five years. A southern ILL
nois bank says that 1t has no fixed
rule about this, but 1t does make de-
clded difference when owners of farm
lands apply for loans. If the buildings
are we'll painted and thus well pre-
served the loan rate would not only
he cheaper, but the amount of money
borrowed would be larger. A northern
Illinois bank does not hesitate to say
that It would loan fully 80 per cent.
more on a farm where buildings were
well 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
implanted, but as a rule the-most SUBJ
stantial people who live in the coun-
try keep their buildings well painted"
An Iowa bank, through its vice pres
ident, states that 1t would make diff
ference of at least % per cent. in IA
vor Of the farm with painted build
ings. Another Iowa concern says that
II would make a difference of at least
20 per cent.
All this being true, II Is perfectly
evident that 1t is a good business prop
osition 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 adj
vantage, the loan value of the property
would be greatly increased and the
themselves would last much
longer and need less repair.-Ths
American Agriculturist.