The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1919-04-03
PAINT AS AN ASSET.
Bankers Say They Lend More
Money on Property When
a. Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One Concern Advances 25 Per Cent.
More II Repainting Is Done
49, Every Five Years. %. .t&#


value of q farm when buildings are
properly kept up and regularly paint
edf "A careful inquiry Of number OF
reading bankers Ia the Mississippi vail
sey, Including such states as Iowa. Hi
aois, 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 so per cent. more on
Hand where farm buildings were well
painted and kept In good condition.
They maintain that well kept-up and
we'll 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 Ia a
profitable proposition, and bankers in
general consider the farmer a good
client. Another Michigan bank says
farm buildings out Of repair and
aeeding paint indicate that the owner
liz >slow pay" Such farms are rated at
about one-third of the assessed value
tor loans. Where the farm buildings
are in good shape the rating is one.
half. The president of middle west
szn bank says that when real estate
loans are considered, painted buildings
are always taken into consideration In
making an estimate. The general APP
pearance of the property surrounding
the house and barn and also the fields
and fences would be carefully observ-
I'd He further says that he has no
nesitancy In saying that he would alb
solutely refuse loan on farms where
aha buildings were not kept up and
we'll painted. In his Judgment. un-
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.
I'm his particular case he believes that
10 would loan 20 per cent. more than
IL the buildings were not properly
taken care Of. A farmer who will
keep his buildings painted takes A.
mnch deeper Interest N his work than
one who does not. Another Minue-
sota bank says that we'll painted build
tngs have resulted in securing from
his bank sometimes as high as IS 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 we'll kept farm
where buildings are painted at least
once every FIVE years. a southern ILL.,
n0is bank says that It has no fixed
rule about this, but 1t does make de-
eided difference when owners OF farm
are well painted and thus we'll pre-
served the loan rate would not only
be cheaper, bat the amount of money
borrowed would be larger. A northern
Illinois bank does not hesitate to say
shat it would loan fully 80 per cent.
Eaore on farm where buildings were
well painted and In good order than
where they were not. The vice presi-
dent. who answers the inquiry. goes
an TO say: There probably are many
farmers good financially and morally
who permit their buildings to remain
unpainted, but as rule the most SUBJ
staatial people who live in the coun-
Try keep their buildings well painted"
An Iowa bank. through it's vice pres
1aent, states that It would make diff
ference of at least 25 per cent. Ia ia.
Yor Of the farm with painted build
sings. Another Iowa concern says that
90 would make difference of at least
% per cent.
All this being true. It Is perfectly
evident that 1t is good business prop
osltion to keep the farm buildings well
painted. They not only look bette.
aud are more pleasing to the owner
bat the farm would sell to better ad
vantage, the loan value Of the property
would be greatly increased and tbs
buildings themselves would last muct
longer and need less rerair.--Th(