bash does not find freshly installed binary

[Olaf]

Configuration Information [Automatically generated, do not change]:
Machine: i386
OS: linux-gnu
Compiler: gcc
Compilation CFLAGS:  -DPROGRAM='bash' -DCONF_HOSTTYPE='i386' 
-DCONF_OSTYPE='linux-gnu' -DCONF_MACHTYPE='i386-pc-linux-gnu' -DCONF_VEND
OR='pc' -DSHELL -DHAVE_CONFIG_H   -I.  -I/home/doko/packages/bash/bash-2.05a 
-I/home/doko/packages/bash/bash-2.05a/include -I/home/dok
o/packages/bash/bash-2.05a/lib -g -O2
uname output: Linux wally 2.4.25 #1 Wed Feb 25 21:00:03 CET 2004 i686 unknown
Machine Type: i386-pc-linux-gnu

Bash Version: 2.05a
Patch Level: 0
Release Status: release

Description:
        1. deinstalled Debians smartsuite, installed my own
           version from tgz into /usr/local
        2. started smartctl -a /dev/hda and got:
           '/usr/sbin/smartctl' not found (or something similar,
           I do not remember)
           BTW, the binary is *now* in /usr/local/sbin

Repeat-By:

Fix:
        let bash just search $PATH, that is what $PATH is good for