The Tucumcari news and Tucumcari times. [volume] (Tucumcari, N.M.) 1907-1921, 1919-11-13
PAINT As AN ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One Concern Advances % Per Cent.
More " Repalnting 10 Done
Every Five Years.

Does It pay to paint carefully farm
buildings? Does II add to the selling
value Of a farm when buildings are
properly kept up and regularly paint
d A careful inquiry Of q number Of
leading bankers In the Mississippi val
ley, including such states as Iowa, MI
nois, Michigan, Ohio, Indiana and Mis-
souri,, reveals the fact that In nearly
every cast the bankers did not hest
tate to say that they would lend all the
way from 8 to 80 per cent. more on
land where farm buildings were well
painted and 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 n 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 % 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
10 this inquiry. the officers would loan
more money on farms where buildings
we're painted than where they were
not SO treated. This bank also finds
that where houses, barns and fences
are well taken care OF the farm is a
profitable proposition. and bankers In
general consider the farmer q 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,
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 ap-
pearance OF the property surrounding
the house and barn and also the fields
and fences would he carefully observ-
ed. He further says that he has no
hesitancy In saying that he would alb
solutely refuse n loan on farms where
INV wei b'N h'Dl VII III
well painted. In his judgment, un.
painted farm buildings would reduce
the loan value at least % per cent.
A Minnesota banker says that he II
much more willing to loan money
where the buildings are well painted.
In his particular case he believes that
he would loan 20 per cent. more thnn
- fhA hutllipno mara pnt nrnynrI,l
taken care Of. A farmer who will
keep his buildings painted takes n
much deeper intercs, N his work than
one who does not. Another Mime,
sofa bank says that well painted build
lngs have resulted in securing from
his bank sometimes as high ms - per
cent. more money than where The,
buildings are not painted. An Ohio
concern says that II will loan - pc
cent. more money on n well kept farm
where buildings are painted 0t leaS'
once every five years. A southern Hi
nois bank says that It has no fixed
rule about this, but II does make II de-
cided difference when owners of farm
lands apply for loans. II the buildings
| " "Nl Iblll'l Hllb liIN WEI HlN-
served the loan rate would not only
be cheaper, but the amount Of money
borrowed would he larger. A northern
Illinois bank doeS not hesitate to say
that It would loan fully 30 per cent.
more on a farm where buildings were
well painted and In good order than
where they were not. The vice presi-
dent, who nswers the inquiry, goes
on TO say "There probably are many
farmers good financially and morally
who permit their buildings 10 remain
nnpainted, but ms n rule the most sub
stantisl people who live I'm the coun-
try keep their buildings well painted
An Iowa bank, through Its vice pres
ldent. states that II would make a dlf.
terence Of al least % per cent. in IA
vor OF the farm with painted build
lngs. Another Iowa concern SAYS that
Il would make n difference Of ut least
20 per cent.
All this being true, II Is perfectly
evident that It IL n good business prop
esition 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 nd.
vantage, the loan value of the property
would be greatly increased and the
buildings themselves would last much
longer and need less repalr.-The
American Agriculturlst