The Meridian times. (Meridian, Idaho) 1909-1938, 1919-07-25
AN INDICATION OF THRIFT.
One Concern Advances rs Per Cent.
More if Repainting ls Done
Every Five Years.

Does 1t pay TO paint carefully farm |
buildings? Does IL 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, Illi- |
nois, Michigan, Ohio, Indiana and Mis-
souri,, reveals the fact that in nearly
every case the bankers did not hesi-
tate to say that they would lend all the
way from 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 a 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 well taken care Of the farm Is a
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
are in good shape the rating is one
half The president of middle west
eTn 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 obsery-
| ed He further says that he has no
hesitancy in saying that he would alb
solutely refuse 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 20 per cent. more than
If the buildings were not properly
taken care of. 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
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 a well kept farm
where buildings are painted at least
once every five years. A southern nli-
nois bank 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
| dFt We'll pt<llSu uuu tAiuS NSii piC-
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 50 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 answers the inquiry, goes
on to say: There probably are many
farmers good financially and morally
who permit their buildings to remain
unpainted. but as a rule the most sub
stantiaa people who live in the coun,
try keep their buildings well painted
An Iowa bank. through its vice pres
ident, states that it would make diff
ference of al least % per cent. in fa
vor of the farm with painted build
, ings. Another Iowa concern says thai
I it would make a difference OF at least
20 per cent
: All this being true, II Is perfectly
evident that il is a good business prop
osition TO keep the farm buildings wei
: painted They not only look better
a and are more pleasing 10 the owner
hut the farm would sell to better sd
: vantage. the loan value of the propert,
would be greatly Increased and IN,
!. buildings themselves would last mucl
: longer and need less repair.-Th,
i American AgricuiturtSt.