Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1919-04-18
PAINT AS AN ASSET.
Bankers Say They Lend More
Money on Property When
Buildings Are Well Painted.
AN INDICATION OF THRIFT.
One Concern Advances IS Per Cent
More II Repainting Is Done
Every Five Years.


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, ILL.,
nois, Michigan, Ohio, Indiana and Mis-
souri,. reveals the fact that in nearlys
every case the bankers did not hesi-
tate TO say that they would lend all the
way from 5 to so per cent. more on
land 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 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 y 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 bank also finds
that where houses, barns and fences
are well taken care Of the farm II
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. Whe:e the farm buildings
are In, good shape the rating Is enc
half. The president Of a 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 APP
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 abb
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 % per cent
Minnesota banker says that he Ii
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 q
much deeper interest an his work thar
one who does not Another Mime
sofa bank says that well painted build
ings have resulted Fin 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 well kept farm
where buildings are painted at leas
once every five years. A southern Iii
nois bank says that it has no ixet
rule about this, but 1t 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 onl,
be cheaper, but the amount of none,
borrowed would be larger. A northern
Illinois bank does not hesitate to sa,
that It would loan fully 80 per cent
more on a farm where buildings wer
well painted and In good order thai
where they were not The vice presl
dent, who answers the inquiry. goe
on to say: "There probably are man