The patriot. (Glenmora, La.) 1918-1955, 1920-01-09
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 10 nepatntIns ls Done
Every Five Years.

Does 1t pay to paint carefully farm
Buildings? Does II add to the selling
Valge Of farm when buildings are
properly kept up and regularly paint
Nd2 A careful inquiry Of number Of
leading bankers in the Mississippi val
ley, including such states as Iowa, Hill
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 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
well 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 PARTED buildings In
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 50 treated. This bank also finds
that where houses, barns and fences
are well taken care OF the farm IL .
profitable proposition. and bankers in
general consider the farmer good
client. ASbther Michigan bank says
farm buildings ont 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 wesi
ern bank says that when real estate
loans are considered, painted buildings
are always taken into consideration I'm
making an estimate. The general ap-
pearance Of the property surrounding
the house aud barn and also the fields
and fences would be carefully ebkerv-
ed. He further says that he has Ne
hesitancy In saying that he would alb
solutely refuse loan on farms where
the buildings were not kept up and
wen painted TR his judgment, I'M
painted farm buildings would reduce
the loan value 81 least Is 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 pcr cent. more thnn
il the buildings were not properly
taken care Of. A farmer who will
keep his buildings painted takes q
much deeper interest N his work than
one who does not. Another Mime
sofa bank says that well painted build
ings have resulted IN securing from
his bank sometimes as high as Is per
cent more meney than where the
buildings are net painted. An Ohio
concern says that IL will loan p per
cent more money on a well kepf farm
where buildings are painted at least
CAGE every Eve years. southern MI.
nsas bank says that II has no fixed
rule shout this. but It does make de-
effed difference when owners of farm
lands apply Cor loans. II the buildings
are well pnlnted and thus we'll pre-
served the loan rate would not only
be cheaper, but the amount OF money
borrowed would be larger. A northern
Illinois bank does not hesitate to say
that &c would loan fully so per cent
more on a 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 morally
who permit their buildings to remain
unpaiAted. but as a rule the most sub
stantlal people who live In the cnun-
try keep their buildings well painted
An Iowa bank. through Its vice pres
ident, states that 1t would make diff
ference If ut least % per cent. 81 fn-
vOr of the farm with painted build
Ings. Another Iowa concern says thai
II would make difference Of at least
- per cent.
Ali this being true, It Is perfectly
evident that e Is q good business prop
osition TO kecp the farm buildings well
painted. They not only look better
and are more pleasing to the owner.
but the farm would sell TO better sd.
vantage, she loan ynIue Of the properly
would be greatly increased and tho
buildings themselves would last much
longer and need less repair. The
American AgriCuIturise.