The Little River news., 1919-08-02
PAINT AS AN ASSET,

Does 1t pay uo pa1nr cureruIly Tarm buildings? Does it add to the selling value of 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 50 per cent. more on land where farm buildings were we'll painted and kept fin 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 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 p 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 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 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 ab- solutely refuse loan on farms where the buildings were not kept up and well painted. In his judgment, un- painted farm buildings would reduce the loan value at least 25 per cent.
 Minnesota banker says that he 10 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. A farmer who will keep his buildings painted takes much deeper interest .n his work than one who does not. Another Mime sota bank says that we'll painted build- ings have resulted in securing from his bank sometimes as high as p per cent more money than where the buildings are not painted. An Ohio concern says that it will loan 25 per cent more money on well kept farm where buildings are painted at least once every five years. A southern llli- 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 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. northern Illinois bank does not hesitate to say that it would loan fully 90 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 rule the most sub- stantial 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 at least 25 per cent. in fa- vor of the farm with painted build- ings. Another Iowa concern says that 1t wonld make difference of at least