No More No. 2 Spring Wheat

Chicago, May 11.- By a vote of 488 te ÍS6 the Chicago board of trade yesterday voted to discontinue the use of No. 2 spring wheat as a contract grade, thus placing this market on equal footing with the other big grain centres of the country. This leaves only two contrae! grades of wheat for future delivery- No. 1 northern spring and No. 2 red winter. ' The elimination of the No. 2 spring grade, it was claimed, would markedly restrict the speculative element, thus rendering much easier tha creation of "corners." On the othei hand it was contended that it would tend to elévate the standard of speculative trade. The elevator men are generally credited with being against the amendment. The rule is to go into effect or. Oct. 1. There are in round number 5,000,000 bushels of No. 2 spring wheat ic Chicago elevators, and only about 3,000,000 bushels of other grades. All this í former large amount will be thrown entirely out of the regular wheat market.