The Hays free press. [volume] (Hays, Kan.) 1908-1924, 1919-04-10
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 up and regularly paint
ed? A careful inquiry of number of
leading bankers in the Mississippi val
ley, including such states as Iowa, Hi
nOis, Michigan, Ohio, Indiana and Mis-
souri,, reveals the fact that in nearly
every case the bankers did not hest
tate to say that they would lend all the
way from TO 30 per cent more on
land where farm buildings were well
painted and kept in good condition.
They maintain that we'll kept-up and
well painted buildings and fences are
an indication of thrift and that the
thrifty farmer is q 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
to this inquiry. the officers would loan
| more money on farms where buildings
were painted than where they were
not so treated This bank also finds
| that where houses, barns and fences
are we'll taken care of the farm is a
profitable proposition, and bankers in
general consider the farmer a 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 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 be carefully Observ-
| ed. He further says that he has no
hesitancy in saying that he would alb
solutely refuse q 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 we'll painted.
In his particular case he believes that
he would loan 20 per cent. more than
| if the buildings were not properly
| taken care of 4 farmer who will
| keep his buildings painted takes a
much deeper interest N his work than
one who does not Another Mime
| sofa bank says that well painted build
| inEs have resulted in securing from
| his bark 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 a well kept farm
where buildings are painted at least
once every five years a southern Hi
| nGiS bark says that it has no fixed
| rule about this, but it does make de-
cided 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
be cheaper, but the amount of money
borrowed would be larger. A northern
Illinois bank does not hesitate 10 say
that it would loan fully 30 per cent.
more on Il farm where buildings were
well painted and in good order than
where they wore 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. hat as rule the most sub
stanii;;l people who live in the coun-
try keep their buildings we'll painted
An Iowa hank. through its vice pres
ident, states that il would make a diff
ference Of ut least - per cent. in IA
vor of the farm with painted build
ings Another. Iowa concern says that
ii would make difference of at least
20 per cent
All this being true. it is perfectly
evident that il is Il 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 he greatly increased and the
buildings themselves would last much
longer and need less repair.-The
: American Agriculturist.