AUSTRALIAN NEWS

Hawke's Bay Tribune, Volume XXII, Issue 256, 12 October 1932, Page 8

AUSTRALIAN NEWS

“WIZARD” SMITH’S LIBEL ACTION

YELLOW FLAG INCIDENT. PLAINTIFF RECALLED. Sydney, Oct. 11. The “Wizard” Smith libel case was continued to-day. F. H. Stewart, a Federal Parliamentarian, gave evidence that he was indirectly associated with the New Zealand speed tests awing to being a bondsman for the safety of the British Schneider aeroplane engine used in Smith’s car. Witness lodged bonds valued at £2BOO with the Fede il Treasury. He also backed Smith to the extent of £5OO. He looked upon the New Zealand attempts on the speed record as a matter ot national importance and had every confidence in Smith’s ability to achieve that purpose. He saw no justification for the newspaper attack or the suggestion that there was a yellow streak in connection with Smith’s conduct in New Zealand

Cross-examined, witness admitted that Smith’s reputation had in no way suffered by “Smith’s Weekly’s” attack. Stewart said thai after reading the article about Smith he formed the conclusion that the fatter tinkered with the engine while in New Zealand and interfered with its efficiency Witness was greatly surprised when he read these things, hav :ig regard to Smith’s j>ast honourable career. Norman Smith, the plaintiff, recalled, continued his evidence. He said that when he reached Sydney a person whom he now recognised as Ted Patterson, whom he had seen about four times at the “Smith’s Weekly” office, met him on the wharf, said “Good Morning” and gave him a small yellow flag, the significance of which he did not know at the time. He had since discovered that it was intended as a gross insult. Patterson made no other comment, but simply walked away. The hearing was adjourned. EXPORTS DOWN; IMPORTS UP KISE IN EXCHANGE LIKELY Sydney, Oct. 11. Australia’s overseas trade for the first two months of the present financial year reveals a heavy decline in exports and a heavy increase in imports. The acting Commonwealth statistician, Professor Giblin, believes that a rise iu the exchange rate will be the natural corollary. The Commonwealth Bank board is now meeting and will consider the exchange rate. BRISK TRADING ON ’CHANGE. FIRM TONE MAINTAINED Sydney,, Oct. 11. There was brisk trading on the Stock Exchange to-day and the firm tone of recent weeks was maintained, but there was a slight weakness in Goldsbroughs. Sales.—Bank of New South Wales £3l 7/6, Commercial Bank of Sydney £l7 7/6, Bank,of Australasia £ll 10/-, National Bank (£5 paid) £6 12/1, Burns Philip £2 9/6, Adelaide Steam £1 1/I}, Fairymead Sugar £1 6/6, Millaquin Sugar £1 8/6/ Australian Gas A £6 16/6, British Tobacco £1 16/9, Tooths £1 17/3, Tooheys £1 3/3, Dunlop Perdriau 16/10}, Goldsbroughs £1 6/9, Wilcox Mofflin 7/2, Winchcombe Carson £1 4/10}, Electrolytic Zinc 18/6, Taranaki Oil 2/8, Carlton Brewery £1 15/6, Broken Hill Proprietary £1 3/6, North Brokens £3 15/-, Souths £2 11/Commonwealth Bonds.—Four per cents 1938 £lOl 15/-, 1941 £lOl 17/6, 1944 £lO2 5/-, 1947 £lOl, 1950 £lOO 18/9, 1956 £lOl 15/-, 1959 £lO2 10/-.

Melbourne.—Bank of Australasia £ll 12/-, Goldsbrough £1 7/-, Tooths £1 18/-, Dunlop Perdriau 16/9, ditto piref. £1 12/9, Herald and Times £2 17/3, South Brokens £2 10/3, Norths £3 15/6, Mt. Lyell £1 3/9, Zinc Cor poration £1 10/6.

DOMESTIC DISPUTE.

MURDER AND SUICIDE. Melbourne, Oct. 11. Henry Hermann, aged 46, had a dispute with his wife on the verandah of her father’s house at Croydon to-day. He drew a revolver and shot and killed her, then turned the weapon on himself and committed suicide. SUICIDE ON MAUNGANUI. Sydney, Oct. 11. 11l health is believed to have been the cause of the suicide of a passenger named Maxtone this morning on the poop deck of the Maunganui. A bank book with nearly £5OO credit was among deceased’s personal effects. Maxtone,, aged 32, was an engineer and had resided at Lake Coleridge. Christchurch, for six years.