Connecticut western news. [volume] (Salisbury, Litchfield Co., Conn.) 1871-1970, 1919-04-03

Bankers Say They Lend Mor'
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT
One Concern Advances IS Per Cent
More II RepaintIna Is Done
Every Five Years.

Does IL pay to paint carefully farI
buildings? Does II add 10 the sellin|
value uf farm when buildings aTI
properly kept up and regularly painJ
ed? A careful inquiry OF a number 4
leading bankers in the Mississippi val
ley, including such states as Iowa, II
nols, Michigan, Ohio, Indiana and Mi
souri,, reveals the fact that In near&
every case the bankers did not hes
tate TO say that they would lend all On
way from 5 to so per cent. more
land where farm buildings were we
painted and kept In good condltio
They maintain that well kept-up nj
we'll painted buildings and fences a
an indication of thrift and that
thrifty farmer is good client, and
him money can be safely loaned.
average of the returns from the
bankers shows that the increased Tod
value because of painted buildings
around % per cent.
Some of these bankers make intd
esting comment. A Michigan conca
says that, while not especially ri
pared to advise definitely in respon
TO this inquiry, the officers would lol
more money on farms where buildlT
were painted than where they wt
not so treated. This bank also fin
that where houses, barns and fen.
are we'll taken cage OF the farm Is
profitable proposition, and bankers
general consider the farmer ed
client. Another Michigan bank sd
farm buildings out of repair "
needing paint indicate that the owt
is slow pay" Such farms are rated
about one-third OF the assessed VA
for loans. Where the farm buIldlt
are In good shape the rating Is o.
half The president of q middle wd
ern bank says that when real est
loans are considered, painted buildi
are always taken into consideration
making an estimate. The general
pearance of the property surround
the house and barn and also the fie
and fences would he carefully ohsa
ed. He further says that he has
hesitancy in saying that he would
solutely refuse loan on farms wi
the buildings were not kept up
we'll painted In his Judgment.
painted farm buildings would red
the loan value at least 81 per cent.
A Minnesota banker says that h
much more willing to loan md
where the buildings are well pain
L., Il fs. at he
he would loan 20 per cent. more
If the buildings were not prop
taken care of. A farmer who
keep his buildings painted take
much deeper interest N his work
one who does not. Another MI
sofa bank says. that well painted b
ings have resulted in securing
his bank sometimes as high as 81
cent. more money than where
buildings are not painted. An
concern says that II viii loan 20
cent. more money on well kept
where buildings are painted NJ
once every five years. A southern
nois bank says that IL has no
rule about this, hut IL does make
cided difference when owners OF
lands apply for loans. III the built
are we'll painted and thus we'll
served the loan rate would not
he cheaper, but the amount OF M
borrowed would be larger. A nor
Illinois bank does not hesitate I'd
that 1t, would loan fully 30 per
more on farm where buildings
well painted and I'm good order
where they were not. The vice
dent who answers the inquiry.
on To say: "There probably are
farmers good financially and md
who permit their buildings to rq
implanted. but as n rule the mos
stantul people who live I'm the
try keep their buildings well pair
An Iowa hank. through its sice
ident, states that II would make
ference of mt least % per cent
vor of the farm with painted
ingS. Another Iowa concern saws
II would make difference Of at
20 per cent.
All this being true, IL II per
evident that IL is n good business
osltion to keep the farm building
painted. They not only look
and are more pleasing TO the
but the farm would sell TO bette
vantage, the loan value Of the prd
would be greatly increased nm
buildings themselves would last
longer and need less rcpnirl
American Agriculturist.