NEWS BY THE MAIL.

Taranaki Daily News, Volume LII, Issue 114, 11 June 1909, Page 3

NEWS BY THE MAIL.

FREAK PANIC. I DISTINGUISHED VICTIM WHO WAS NOT FOOLED. I New York, April 10. I There was a fearful panic on t'he New ! York Stock Exchange lor a tjuartcr of j an hour this afternoon, and the news spread all over Uic city that the bottom ! bad dropped out of the market. Financiers rushed from their ollices I to the marble building in Wail-s'treet. and saw the brokers dashing wildly v.;> and down the floor, shrieking with a'l the power of their lungs, waving memoranda in the air, and tearing ea.'h other's coats into rag;-. At the heigiltt of the excitement one leading spt'culatur dropped to the Ho ir in a faint, and another wais seen to draw a revolver -and place it to his forehelJ. but a friend snatched it away before he could pull the trigger.

In the strangers' gallery Mr. Wu Ting Fang, the Chinese Minister, looked down calmly on the scene on the floor, while he lived questions at his escort'at tflie rate of one a second.

When it was all over he said, quiet!'.-: "I envy yoni Americans. We Orientals are such an unemotional lot." After Mr. Wu had left it was explained that the "panic" was arranged to let the distinguished victim see what it real panic was like. But they did not fool Mr. Wu.

FASHION SMUGGLERS. OFFER OF £52,000 TO PREVENT FURTHER , INVESTIGATION. New York. April 19. The Government announces that next Week the four hundred gowns' from Paris which were seized by the Customs owing to a, daring attempt to smuggle tJheni into the country will be sold be auction.

The lot includes 152 Princess gowns, many real lace evening dresses, opera cloaks, and real lace under-garments, the total .value :being estimated at £20,000.

April 20. Tt is believed that sVune of the leading fashion firms in New York, Boston, and Chicago are concerned in the extensive smuggling of Paris gowns and other dutiable goods into New York recently discovered by the Customs authorities, and that detectives employed by the Treasury and Justice Departments arc on the .track of the guilty parties'. The most strenuous efforts are being made to induce the authorities to abandon their investigation of the affair. According ,to this morning's papers the lawyers whose offer of £20,000 for the suppression of the case was rejected by Mr. Loeb, the chiei,col lector of'the port of New York, have approached him again, this time offering £52,000 as duty and penalty, on condition that the smuggled goods which 'have been seized be given up and all proceedings dropped The lawyers declare that they are completely unaware of the identity of the smugglers, and have reason to believe there are .two or three parties acting between themselves and the actual delinquents.

TORPEDOES THAT FLY IX THE AIR. A NEW AERIAL MONSTER. Berlin, April 22. Messrs. Knipp. of Essen, have announced that they will contribute £SOO per annum towards the cost of experiments with an aerial' torpedo now bein" carried out by Professor Weichert, of the Meteorological Institute at Goettragen.

Professor AA'eichert bias constructed a model of the flying torpedo wfiieh is capable of travelling 225 yards per second, or at the rate of over seven and fl-half miles per minute. Another model of an aerial torpedo, weighing approximately 801b, has also been eonstructel. and has yiehled successful results. These torpedoes are driven 'by small electric .motors. Apart from 'driving them at a high speed through the ail" Professor AVeichcrt is conducting a number of experiments for the purpose of ascertaining how they can be steered by electricity. In conducting these experiments he is guided by the system ofi steering submarine torpedoes bv electric IVBTCI, "'-,■ ,*|^ Tile extreme importance of these'expcriments from a military point of view is evident, and t.his aspect of the matter is emphasised by the subvention which Messrs. Knipp have devoted to this .purpose. Judging from the results already achieved, it appears probaule that Germany will soon be in possession of aerial torpedoes which will be under the control of those who discharge them.

Professor AVeichcrt desires not only to apply his invention to .the purn.ise. of war, but also to scientific research, for he considers that Hying machines of this type can be employed to ascertain the condition of the almorp'iiere at hi'.'h altitudes. He is now experimcnliiW with a Hying machine which he can direct to high altitudes by electric current, and then bring it back to the point from which it started.

COMPARISONS. GERMAN TRADE INCREASES. Berlin, April IS. The value of German imports for the first quarter of 1000 was £1)0.030,000, as compared witih .£00,085.000 for the first quarter of lasit year. The value of tile exports for the first quarter of 1900 amounted to £81,005.000, as compared with £78,815,000 for the first quarter of last year. The above figures for Germany's foreign trade contrast vividly with those of Gmit Britain during tlie same period. Here is the contrast: Exports. Great Britain fell .. .. £10,535,870 Germany rose .. .. 2,790,000 Imports. Great Britain fell .. .. £4,904,045 Germany fell 55,0™ Germany is a protected country, and is then-fore recovering from the'trade depression more quickly than Great Britain, which is still handicapped by free trade. ' condemnation of the french navy;. further revelations by the committee of enquiry. , . Paris, April 10. Further regrettable revelations have been made to-day concerning the facts brought to light by the committee appointed to enquire into the state of the 11a vy. 'A large .part of the .Mediterranean squadron, which is the first and almost only line of French naral defence, is deficient in armament and is also without I full crews.

The transport a,nd hospital tloparLliient of the nayy is absolutely drfcL-tive and inadequate. Danger exists on hoard certain warships on .account of faulty construction of tliic? big-gun turrets, Tin- shortage of men averages about a hundred nn an average crew of lull. Tlje total deficiency amounts to l.'i.ujll. will till- is jcaiwly due to want of naval recruits, since a'bom au,(l(K) men are available for manning tlic licet, l'lie | shortage W all tile more remarkable since the l-'ronch fleet to-ilav is -.io |ar«er .ilian it was several year* ago. the disasters to the Sully, (lie Jean "ifeirt. and the •lena laying neutralised the addition of new snips. One »f the hist and most important depositions received hv the Committee of Enquiry was that of a retire,! officer who has been spending his days of retirement in making a personal' and profound enquiry into t| l( . stale of afl'a : r.= at Toulon. -According to this witness, the transport ships are unveiitilated ami totally out of date. They are without proper operation rooms, and the most neccs.i;iry linings are lacking. The witness mentioned one ease of' especial extra v,ug,aii!fe. in which a hundred gun sight* -were lilted six months after the type of instrument had Jiecn condemned ■ as useless by the Technical Committee.

noisisKnx iy the vaticax. THE POI'K ALARMED BY HEART* SHOTS. Rome. April 2£. The l'oulilical .police this morning ui rested three armed men whom they (lis covered in the Vatican gardens iimlc auspicious circumstances, Tti order to raise the alarm and Bum nvoii assistance, the gendarmes lire, their rifles, tiiie noise of the shootln greatly jilarmin;,' the Pope, who was i. hie study at the time. Finding escap impossiWe, the three men threw the:n selves at the feet of the captain am Hie gendarmes', imploring pardon an. confessing that their intention .was t force open and rob the Vatican treasur. chests. The men were handed over li the Rome, police.