Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1919-04-03
PAINT AS AN ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One Concern Advances rs Per cect.
sts,l More Il Repaintina Is Done
Every Five Years.


Does il pay to paint carefully farm
huildingsg Does it add TO the seiiiaG
value .of farm when buildings ars
properly kept up and regularly paints
ed9 A careful inquiry Of number Of
leading bankers IN the Mississippi vai-
ley, including such states as Iowa, mi
ness, Michigan, Ohio, Indiana aud Mss-
souri, reveals the fact that ia nearly
every case the bankers did not hesi-
tate 10 say that they would lend all the
way from to 80 per cent more on
land whore farm buildings were we'd
painted and kept In good conditiess
They maintain that well keptup and
well painted buildings and fences ara
an indication of thrift aud that the
thrifty farmer Is 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 ia
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
10 this Inquiry, the officers would loan
more money on farms where buildings
weres4 painted than where they were
not so treated. This bank also nndS
that where houses, barns and fe0cea
ara well taken care of the farm rs n
profitable proposition and bankers m
general consider the farmer gost
client. Another Michigan bank sayea
"fnrm buildings out Of repair ani
needing paint indicate that the owner
| Is slow pay" Such earms are rated nc
| about one.third Of Ire assessed values
| 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 ohserv-
j ed He further says that he has no
hesitancy In saying that he would nh
! solutely refuse loan on farms Where's
the buildings were not kept up and
well painted In his Judgment, mn
painted farm buildings would reduced
the loan value at least - per cent.
A Minnesota banker says that he ~
much more willing to loan money
4 where the buildings are wen painted.
lii his particular case he believes that
he would loan 20 per cent. more than
lf the buildings we're not properla
taken care or A farmer who Wig
keep his buildings painted takes a
much deeper interest N bis work thar4
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 20 per
cent more money than where the.
buildings are not painted. An Ohio
concern says that 1t will loan 25 per
cent. more money on a well kept farms
where buildings are painted at leasd
once every five years. A southern Ills
nos bank says that 1t has no dxedi
rule about this, but 1t does make de-
cided difference when owners Of farnt
4 lands apply for loans. IL the buildings
are well painted and thus well pres
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 1t 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 presl-
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 isaated .
An Iowa bank, through its vice pres
ident, states that 1t would make a diff
ference of at least 25 per cent. In fa-
vor Of the farm with painted build
ings Another iowa concern says that
It would make a difference of at least
20 per cent.
All this being true, it is perfectly
evident that 1t is a good business prop
osition to keep the farm buildings welE
painted. They not only look be.ser.
and are more pleasing to the own r,
but the farm would sell to better "a
vantage, the loan value OF the property
would be greatly increased and thD
buildings themselves would last much
longer and need less repair-The
American Agricuturist.