The Era-leader., 1919-06-26
PAINT rs AN ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One. Concern Advances 25 Per Cent
More if Repaintng Is Done
Every Five Years.

buildings? Does it 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, ILL
nois, Michigan, Ohio, Indiana and Mis-
souri,, reveals the fact that in nearly
every case the bankers did not hesl
tate to say that they would lend all the
way from 5 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 tC
him money can be safely loaned. AT
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 loar
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
profitable proposition, and bankers ir
general consider the farmer gooC
client. Another Michigan bank says
"farm buildings out of repair ant
needing paint indicate that the owner
is slow pay" Such farms are rated a
about one-third of the assessed value
for loans. Where the farm building:
are in good shape the rating is one
half. The president of a middle west
ern hank says that when real estate
IoaHs are considered, painted building'
are always taken into consideration il
making an estimate. The general ap
pearance of the property surrounding
the house and barn and also the field:
and fences would be carefully Observ
ed He further says that he has NJ
hesitancy in saying that he would alb
solutely refuse loan on farms where
the buildings were not kept up ant
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 II
much more willing to loan money
where the buildings are we'll painted
In his particular case he believes thai
he would loan 20 per cent. more thar
If the buildings were not properly
taken care of. farmer who viii
keep his buildings painted takes 6
much deeper interest N his work thar
one who does not. Another Mime
sofa bank says tha. "ell painted build
ings have resulted in securing from
his bank sometimes as high as 25 pei
cent. more money than where the
buildings are not painted. An Ohio
concern says that it will loan Is pei
cent more money on a we'll kept farm
where buildings are painted at leas
once every five years A southern Hi
nOis bank says that 1t has no fXe(
rule about this, but it does make de
| cided difference when owners of farm
lands apply for loans. If the building'
! are well painted and thus well pre-
served the loan rate would not only
he cheaper, but the amount Of none!
j borrowed would be larger. A northern
! Illinois bank does not hesitate to sa,
| that it would loan fully so per cent
| more on farm where buildings wer'
well pointed and in good order thar
where they were not. The vice presi
dent, who answers the inquiry, goe
on to say: "There probably are man,
farmers good financially and morall,
| who permit their buildings to remain
| unpainted. but as a rule the most sub
| stantial people who live in the coun
try keep their buildings well painted.
An Iowa bank, through It's vice pres
ident, states that it would make a diff
ference of at least % per cent. in ia
vor of the farm with painted build
ings. Another Iowa concern says tha
1t would make difference of at leas
20 per cent.
All this being true, 1t is perfectl,
evident that it is a good business prop
osition to keep the farm buildings vel
painted. They not only look bette
4 and are more pleasing to the owner
but the farm would sell to better ad
vantage, the loan value of the propert
would be greatly increased and tn
buildings themselves would last muc
longer and need less repair.-Th
American Agriculturist.