The Weston leader. [volume] (Weston, Umatilla County, Or.) 189?-1946, 1919-04-11
PAINT AS AN ASSET

Does II pay 10 paint carefully farm
buildlDgs7 Does IL ndG 10 the selling
value Of o farm when buildings are
properly kept up and regularly paint
ed7 A careful inquiry Of number 0i
leading bankers IN the Mississippi val
ley. Including such states as IOwn. I'LL
nols, 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 3 to 10 per cent. more on
land where farm buildings were well
painted and kept IN good condition.
They maintain that well kepl.up and
well painted buildings and fences are
an indication of thrift and that the
thrifty farmer In 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
estlng 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
were painted than where they we're
not 80 treated. This bank also finds
that where houses. barns and fences
are well taken care OF 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-tbIrd 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 hank says that when real estate
loans are considered. painted buildings
are always taken Into consideration In
making nm estimate The general ap-
pearance 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 no
hesltancy In saying that he would ab-
soluteIy 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.
A Minnesota banker says that he is
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 than
II the buildings were not properly
taken care Of. A farmer who will
keep his buildings painted takes a
much deeper interest m his work than
one who does not Another Mime
sofa haRk says that well painted build
ings have resulted in securing from
his bank sometimes MS high as 25 per
cent more money thnn where the
buildings are not painted. An Ohio
concern says that II will loan 25 per
rent more money on we'll kept farm
where buildings are painted at least
once every FIVE years. A southern Illl-
nois bank says that II has no fixed
rule about this. but II does make de-
'itled difference when owners OF farm
nnds apply for loans. II the buildings
ire well painted and thus well pre-
served the loan rate would not only
,e cheaper, but the amount of money
borrowed would he larger. A northern
Illinois bank does not hesitate to say
hat 1t would loan fully so per cent.
more on a farm where buildings were
veil painted and In good order than
where they were not. The vice presi-
lent. who answers the inquiry. goes
IN TO say: "There probably are many
armers good financially and morally
rho permit their buildings 10 remain
Imprinted, but as a rule the most sub
tantial people who live In the cOun-
ry keep their buildings well painted"
An Iowa bank, through its vice pres
dent, states that II would make a diff
erence Of at least 25 per cent. In fa-
or of the farm with painted build
1gs. Another Iowa concern says that
would make difference of at least I
0 per cent
All this being true, 1t is perfectly
vident that 1t is a good business prop +,
sition TO keep the farm buildings well
ainted. They not only look better :
nd are more pleasing to the owner.
ut the farm would sell TO better nd.
antage, the loan value of the property
'ould be greatly increased and the {
themselves would last much |
niger and need less repair-The 4
merlcan Agrlculturist.