February 14, 1983

In the judging schedule for the Westminster Dog Show in the Sports section yesterday, the captions with photographs of Ch.

In the Advertising column in Business Day Thursday, data on the revenues of the magazine Psychology Today were incorrectly stated. A corrective item appears in the Advertising column on page D9.

An article Thursday about the Alfred I. duPont-Columbia University Awards for Broadcast Journalism omitted one winner. It was ''CBS Reports: People Like Us,'' with Bill Moyers.

Western cattle ranchers stand to gain a large measure of control over land and water resources on 170 million acres of Federal land under policy changes initiated by the Reagan Administration. Over the past year, the Bureau of Land Management has moved to give cattlemen a stronger voice in range management and pulled back from what some ranchers have regarded as overzealous attempts to limit the number of cattle that could be grazed on the public range. At the same time, the agency is no longer seeking a blanket Federal claim to water on public land. Instead, ranchers are being encouraged to file, under state laws, for private title to water from man-made stock-watering ponds and wells developed on arid rangeland, even though the Federal Government owns the land. The agency, as part of the Department of the Interior, manages the largest share of the nation's public lands.

Last week the International Monetary Fund took a large step toward easing the world's latest financial crisis. Delegates meeting in Washington agreed to expand the I.M.F.'s lendable resources by $32.5 billion, or 47.4 percent. It is the largest increase in the organization's history, and the United States will have to contribute $5.8 billion of it. That decision caps, for now, what has been a six-month race against time run by multilateral lending institutions, central banks, governments, commercial banks and debtor countries to stave off loan defaults amid the unexpectedly long and severe global recession.