ON THE AIR TODAY: Kate Smith Speaks, on CBS at noon, E.D.T, sponsored by Grape Nuts. It’s a semi-vacation that Kate Smith is having this summer. When the sponsors of her noonday talks decided they’d like to keep the show on the air through the hot weather. Kate countered with a request that she be allowed to go on the air from her summer home at Lake Placid—and that’s what was finally decided, to everybody’s satisfaction. You ought to see the comfortable set-up Kate and her manager, Ted Collins, have up there in the cool mountains. Kate’s home is on Buck Island, about a mile and half off shore from the town of Lake Placid. It’s almost like a small village in itself, because both Kate and Ted have their homes there, plus guest houses, boat houses, a tennis court and a big outdoor barbecue pit. Three speedboats are moored to the dock, so that nobody need be disappointed when the urge to go somewhere comes. Kate herself is an expert at operating a speedboat, and usually insis