The Meeker herald., 1919-04-26
PAINT As An ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One Concern Advances 70 Per Cent
More II Rspalntlns 10 Done
Every Five Years.

More II Rspalntine 10 Done
Every Five Ysars
Does II pay to paint carefully farm
buildings1 Does It add to the selling
value of q farm when buildings are
properly kept up and regularly paint
ed7 A careful inquiry Of number Of
leading bankers In the Mississippi val
ley, Including such states a. Iowa. I'LL
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 IS7A oil the
way from 8 to so per cent z>sss on
land where farm building9 vsss we'll
painted and kept in gO>1 SsGAation.
They maintain that well t>eeSH and
well painted buildings and fS~eS arc
an Indication of thrift ant AAst the
thrifty farmer IL a good CHIT. 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 10
around q 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 30 treated. This hank also nnds
that where houses. barns and fences
are well taken care OF the farm II a
profitable proposition, and bankers in
general consider the farmer good
client. Another Michigan bank Gays
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 Ii 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 an
pearnnce Of the property surrounding
the house and barn and also the fields
and fences would he carefully Ohserv-
ed. He further says that he has no
heaitancy In saying that he would nh
solutely refuse . loan on farms where
the buildings were not kept up and
well painted. In his Judgment. UNI
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 well painted
In his particular case he believes that
he would loan 20 per cent. more thnn
II the buildings were not properly
taken care of. A farmer who will
keep his buildings painted takes a
much deeper interest N his work than
one who does not. Another Minne-
sofa bank says that well painted build
ines have resulted In securing from
his bank sometimes A. high as Is per
cent. more money than where the
buildings arc not painted. An Ohio
concern says that 1t will loan Is per
cent. more money on q well kept farm
where buildings are painted At lenst
once every I'VE yeara. A southern IllI-
noIs hank says that II has no hsed
RULE about this, but II does make de
citieti difference when owners Of farm
lands apply for loans. II the buildings
are well painted and thus well pre-
served the loan rate would not only
he cheaper. but the amount of money
borrowed would be larger. A northern
Illinois hank does not hesitate TO say
that 1t would loan fully so per cent.
more on q 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 mornlly
who permit their buildings to remain
implanted. but as q rule the most SUBJ
stantiai people who live In the coun.
try keep their buildings well painted"
An Iowa bank. through Its vice pres
ident, states that II would make DIFF.
ference of at least 25 per cent. In IA.
vor Of the farm with painted build
inss. Another lows concern says that
It would make q difference Of at least
20 per cent.
All this being true. II 10 perfectly
evident that II 10 q good business prop
osition to keep the farm buildings well
painted. They not only look better
and are more pleasing to the owner.
but the farm would sell to better ad.
vantage. the loan value Of the property
would be greatly Increased and the
buildings themselves would last much
longer and need less repair.-The
American Agriculturist.