The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1919-05-01
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 If Repainting Is Done
Every Five Years.

Does it pay to, paint carefully farm
buildings? Does it add to the selling
value of a farm when buildings are
properly kept upi and regularly paint
ed? A careful irquiry. of number OF
leading bankers i'm the Mississippi val
ley, including such states as Iowa, Hi
nois, Michigan, Ohio Indiana and Mis-
souri,, reveals thes fact that in nearly
every case the bankers did not hesl-
tate to say that til ey would lend all the
way from to 5Oa per cent. more on
land where farm buildings were well
painted and kept in good condition.
They maintain tfat well kept-up and
well painted bull dings and fences are
an indication of thrift and that the
thrifty farmers is la good client, and TO
him money cain he safely loaned. An
average of the returns from these
bankers shows that the increased loan
value because off painted buildings is
around % per- cent.
Some of these Ibankers make inter-
esting comment. A Michigan concern
says that, whitley not especially pre-
pared to advise definitely in response
to this inquiry, ithe officers would loan
more money fonJ farms where buildings
were painted than where they were
not so treabed3 This bank also finds
that where houses, barns and fences
are well taken careNof the farm is
profitable propositions and bankers in
general consider, the farmer a good
client. Another Michigan bank says
farm buildings. out of repair and
needing paint ihdicateAthat the owner
is slowfp Such farms are rated at
about fOne-thirdI of thet assessed value
for loans. Where the farm buildings
are in good shape the rating is one
half. The president ofJa middle west
ern bank says that when real estate
loans are considered, apainted 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 be carefully observ-
ed He further says that he has no
hesitancy in saying that he would alb
solutely 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 % 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 2OE per cent. more than
if the buildings were not properly
taken care Of A farmer who will
keep his buildings painted takes
much deeper interestI4n his work than
one who does not. Another Mime
sofa bank says that we'll painted build
ings have resulted in securing from
his bank sometimes, as high as % per
cent. more money than where the
buildings are not painted. An Ohio
concern says that, it will loan % per
cent. more money on well kept farm
where buildings are painted at least
once every five years. A southern ILL
nois bank says that it has no fixed
rule about this, but itldoes make a de-
cided difference, wheni owners of farm
lands apply forf1oans If the buildings
are well painted and thus well pre-
served the loan rate would not only
be cheaper, but the amount Of money
borrowed would be larger. A northern
Illinois bank does not hesitate to say
that it would loan fully so per cent.
more on farm where buildings were
well painted and in good order than
where they were not The vice presi-
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 rule the most sub
stantial people who live in the coun-
try keep their buildings well painted."C
An Iowa bank, through it's vice pres
ident, states that it would make diff
ference of at least % per cent. in ia
vor of the farm with painted build
ings. Another Iowa concern says that
1t would make difference Of at least
20 per cent
All this being true, it is perfectly
evident that it is 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
buildings themselves would last much
longer and need less repair.--The
American Agriculturfst.