Class instantiation problem

I have a class:

package {
public class newClass {
public var value1:int = 10;
function newClass() {
trace(“constructing”);
}
public function someMethod():String {
return “hello”;
}
}
}
It is saved as newClass.as in the directory with my .fla

In frame 1 actions layer I have:

import newClass;
var myTest:newClass = new newClass();
trace(myTest.value1);
When I run this I get the expected output of “10”.

I also have a document class:

package {
import flash.utils.Timer;
import flash.events.TimerEvent;
import flash.events.Event;
import flash.events.MouseEvent;
import flash.events.IOErrorEvent;
import flash.display.DisplayObjectContainer;
import flash.display.Bitmap;
import flash.display.BitmapData;
import flash.net.URLLoader;
import flash.net.URLRequest;
import flash.net.URLRequestMethod;
import flash.net.URLVariables;
import flash.display.MovieClip;
import flash.display.Sprite;
import flash.external.ExternalInterface;
import flash.text.TextField;
import flash.text.TextFieldType;
import newClass;
public class vidSlide extends MovieClip {
var instance:newClass = new newClass();
trace(instance.value1);
private var videoPath:String = “http://my.url.com/video.flv”;
public function vidSlide() {
player.source = videoPath;
player.skinBackgroundColor = 0x666666;
player.skinBackgroundAlpha = 0.5;

    }
}// end vidSlide class

}

When I run this with the trace(instance.value1) I get “1120: Access of undefined property instance” error. If I comment out the trace it runs fine and the output shows the trace in the class constructor (indicating to me that the “var instance:newClass = new newClass();” is doing what it should).

What am I missing? Any comments appreciated.