, 1920-03-25
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 " R%spaintins 10 Demo
Every Five Years.

Does 1t pay to paint carefully farm
buildings? Does It add to the selling
value of q farm when buildings ara
properly kept VI and regularly paint
ed? A careful inquiry Of a number Of
leading bankers in the Mississippi val
ley, including such states as Iowa, I'LL
nois. Michigan. Ohio, Indiana and Mis-,
souri,, reveals the fact that in nearly |
every case the bankers did not hest
tate to say that they would lend all the
way from 5 to 90 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 4 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 IL
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 LOAF
moro money on farms where buildings
were painted than where they were
not so treated. This bank also nnds
that where houses. barns and fences
are well taken are Of the farm is q
profitable proposition. and bankers In
general consider the farmer q 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 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 ap1
pearance of the property surrounding
the house and barn and also the fields
and fences would he carefully observ-
ed. He further says that he has no
hesitancy In saying that he would alb
solutely refuse a loan On farms where
the buildings were not kept up and
well painted. In his judgment, n
painted farm buildings would reduce
the loan value at least IS per cent.
A Minnesota banker says that he In
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
IL the buildings ere not properly
taken care Of. A farmer who will
keep his buildings painted takes q
much deeper interest n his work than
n who does not. Another Mime
sofa bank says that well painted build
tngs have resulted in securing from
his bank sometimes as high as % per
cent. more money than where the
buildings are moi painted. An Ohio
concern says that 1t win loan rs per
cen more money on 4 well kept farm
where buildings are painted at least
once every five years. A southern I'LL
nois bank says that 1t has no fixed
rule about this, but It does make a de-
cided difference when owners of farm
lands apply for loans. II the buildings
are well painted and thus well pre-
served the loan 6te would not only
he cheaper, but the amount OF money
borrowed would be larger. A northern
Illinois bank hoes not hesitate to say
that II would loan fully so per cent.
more on q farm where buildings were
well painted and in good order than
where they were moi. The vice presi-
dent, who nswer the inquiry. goes
on to say: There probably are many
farmers good financially and morally
who permit their buildings to remain
implanted. but as a 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 1t would make a diff.
ference of at least rs per cent. In ia
ver Of the farm with painted build.
ings. Another Iowa concern says that
II would make q difference Of at least
20 per cent.
All this being true, II II perfectly
evident that It is a good business prop
Osition to keep the farm buildings well
painted. They not only look better
and are more pleasing to the owner,
bit the farm would sell to better adj
vantage, the loan value of the property
would be greatly increased and the
buildings themselves would last much
longer and need less repair-Ths
American Ag~riculturist.