The spectator., 1919-03-28
PAINT AS AN ASSET.
Bankers Say They Lend More Money en Property When
 Buildings Are We'll Painted.
AN INDICATION OF THRIFT.
One Concern Advances zS Per Cent Mere N RepaintinS is Done
 Every Five Yeara


 Does 1t pay to paint carefully farm buildingsf Does 1t add to the selling value of q farm when buildings arc properly kept up and regularly paint ed! A careful inquiry of a number of leading bankers in the Mississippi val icy, including such states as Iswa, Illi- nois, Michigan, Ohio, Indiana and Ais- ssuri, reveals the fact that h nearly svery case the bankers did net hesi- ate ts say that they would lend all the ~ay from ts 8 per cent more on and where farn buildings were we'll 2ainted and kept h good condition. They maintain that well kept-up and we'll painted huildings and fences are an indication of thrift and that the thrifty farmer 10 . good client. and to 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 22 per ceat.
 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 moro money on farms where buildings net 70 treated This bank also finds that where houses. barns and fences arc well taken care ot the farm is . profitable proposition, and bankers in general consider the farmer . 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 arc in good shape the rating Is one half. The president of . middle west ern bank says that when real estate loans are considered, painted buildings arc always taken into consideration in making m estimate The general ap- pearance of the property surrounding the house and barn and also the fields and fences would be carefully observ- cd. He further says that hs has no hesitancy in saying that he would ab- 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
 Minnesota banker says that Ae 10 much more willing te loan money where the buildings arc we'll painted. h his particular case he believes that he would loan 20 per cent. moro than if the buildings were net properly taken care of A farmer who will keep his buildings painted takes . much deeper interest n his work than enc who does not Another Ainne- sota bank says that we'll painted build ings have resulted In securing from his bank sometimes as high as 25 per cent. moro money than where the buildings are not painted. An Ohio concern says that 1t will loan 25 per cent more money en . we'll kept farn where buildings are painted at least eace every nvs yean. A seuthern Illi- neis bank says that 1t has no fixed rule about this, but 1t does make . de- c1ded difference when owners of farn lands apply for loans. If the buildings arc well paisted and thus well pre- eerved the loAa rute would not enly bs cheaper. but the amount of meaey borrowed would be larger. A northern Illinois bank does not hesitate te say that 1t would loan fully 50 per cent mors on . farm where buildings wers well painted and in gocd order than where they were not. The vice presi- dent, who answers the inquiry. gees On to say: There probably arc many farmers Geod financially and merally who permit their buildings ts renain snpainted. but as rule the most sub stantisl 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 25 per cent. in fa- vor of the farm with painted build ingp. Another Iowa concern says that 1t would make . difference of at least Q per cent,
 All this being true it i perfectly evident that it is . rood business prop esitioa to keep the farm buildings we'll 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.