What was going on when I was born?

The Securities and Exchange Commission apparently does not like the idea of premature trading in the new stocks of the stripped-down American Telephone and Telegraph Company and those of the seven regional telephone companies it is spinning off. The commission is expected to issue an order today that would prevent any such trading until Nov. 21. That is the date that has been scheduled all along for the start of ''when- issued'' trading, which is trading of stock before the certificates are issued. A spokesman for the commission declined to comment.

New York State voters appeared to have given narrow approval yesterday to the $1.25 billion bond issue that calls for repairs of many of the state's highways and bridges. A coalition of New York City and suburban voters seemed to be producing enough votes to counter upstate resistance to the bonds and give Governor Cuomo, its chief proponent, a political victory. He had placed his political prestige and his administration behind the bond issue. With 12,032 of 14,251 districts reporting, the vote on the bond issue was: Yes1,407,612 No 1,281,963 The bond-issue vote highlighted an election that also produced these results: - Democrats retained control of both the Senate and the Assembly in New Jersey.

After months of reports that the United States Steel Corporation was going to shut its South Works in Chicago, company officials now say they will probably build a new rail mill there and keep the plant open. William E. Lewellen, U.S. Steel's senior vice president for finance, said today that, because of cooperation from the union and municipal, state and Federal officials, the company would probably continue operating the plant. ''We haven't decided we will keep it open, but we probably will,'' Mr. Lewellen said in an interview. Mr. Lewellen and Thomas C. Graham, vice chairman in charge of steel and related resources for the company, which is based in Pittsburgh, are scheduled to make an announcement about the mill in a press conference in Chicago on Thursday.

For 20 years, the private, tranquil, parklike garden and playground in the Kips Bay Towers housing complex on Manhattan's East Side has been open to anyone seeking an oasis of calm or a place for toddlers to play. No more. Worried about security, the directors of the condominium housing development decided last spring to enclose the grounds and restrict access to residents of the two 20-story apartment buildings. Four weeks ago, the work of sealing off the park and playground was completed.

The House of Representatives will debate and perhaps vote Wednesday on a bill that could have a far-reaching impact on telephone rates for every American family and business. The outcome is considered too close to call. The legislation is opposed by the American Telephone and Telegraph Company and supported by consumer groups. It would repeal a Federal Communications Commission order requiring all telephone users to begin paying a new monthly fee on April 3 for ''access'' to long-distance networks. The bill would also create a $1.2 billion ''universal service'' fund - financed by the phone companies - to subsidize telephone service in rural areas and for the poor.

NEITHER snow nor sleet nor gloom of night nor holiday shopping crowds can stay the smoked salmon, raspberry preserves and lemon rum cake from reaching their final destinations. Thanks to a myriad of speedy package delivery services now available plus new ways to keep perishable foods from spoiling, it's possible to have the sweet, succulent lobsters caught off the Maine coast on Monday in Texas on Tuesday; creamy old-fashioned New York-style cheesecake in California overnight, or fresh basil from Michigan all winter long. Ordering gifts by mail offers busy people an easy but still personal way to check off the names on their Christmas lists. Of course, New Yorkers, and many other big- city dwellers as well, have a wealth of food emporiums at hand. But for the small- town shopper, ordering by mail opens the door to a variety of choices that would not be available otherwise. What's more, mail-order offers everyone a chance to buy one-of-a-kind items made and sold only in out-of-the-way spots. So it isn't necessary to travel to Cornwall Bridge, Conn., to enjoy the moist and deliciously spirited lemon rum cakes made there by Matthews 1812 House or to Wakefield, Va., for the crisp, intensely flavored peanuts sold by the Virginia Diner. Even though most Americans probably do not know where Newton, Iowa, is, a lot of them have enjoyed the creamy Maytag blue cheese made there.

Speaker Thomas P. O'Neill Jr., who criticized President Reagan for ''gunboat diplomacy'' in the invasion of Grenada, said today that a House fact-finding mission had convinced him the action was ''justified'' to rescue endangered Americans. His switch marked what some Democrats acknowledged was '' a strategic retreat'' politically. It came amid strong public support for the United States-led invasion as well as reports by some of Mr. O'Neill's top lieutenants in the House of Representatives that Americans on the island had been in jeopardy and that Grenadians had overwhelmingly welcomed the American action. Urge Troops Home by Christmas In another indication of the support and flexibility gained by the President in recent days, other senior Democratic leaders urged that the remaining United States troops be withdrawn from the island by Christmas, but indicated they might be willing to support a slightly longer stay.

As workers cleaned up the rubble from a time bomb that went off outside the Senate chamber Monday night, the leadership of the Senate and House today approved new security regulations for the Capitol. Larry Smith, the Senate's sergeant- at-arms, said that from now on visitors would be admitted through only four of the Capitol's doors. They had been able to use about 10 entrances. Inside the four doors metal detectors will be installed for all visitors to pass through, and no longer will lobbyists or tourists be allowed in the hallways just outside the House and Senate Chambers on the second floor.

W. Wilson Goode, a North Carolina sharecropper's son, was elected today as the first black Mayor of the country's fourth largest city. Mr. Goode, a 44-year-old Democrat, held a commanding lead in nearly complete returns. John J. Egan Jr., the Republican, ran second, and Thomas A. Leonard, a Democrat running as an independent, was a distant third. Other races around the country today produced these results: - In Washington State, Daniel J. Evans, a Republican, retained the Senate seat he was appointed to Sept. 8, defeating Representative Mike Lowry, a Democrat. (Page A25.)

The Economy The House opens debate today on a measure that could have a broad impact on telephone rates. The fate of the bill, opposed by A.T. &T. but supported by consumer groups, is considered too close to call. It would repeal an F.C.C. order requiring phone users to begin paying a new monthly fee for ''access'' to long-distance networks. (Page D1.) The S.E.C. is expected to issue a ban today on premature trading in stock of the streamlined A.T.& T. and the seven regional companies that it is spinning off. (D1.) State and local governments may not regulate television programming distributed via satellite to private homes, the F.C.C. ruled. The decision involved a small but growing service that many communities regard as a threat to cable TV service. (D10.)

With Vice President Bush breaking a tie, the Senate voted today to approve funds for the production of new nerve gas weapons. Then the Senate, 86 to 6, approved a military spending bill of $252 billion, $5 billion more than the House approved last week. The vote approving nerve gas production, which was 47 to 46, followed an emotional debate that divided both parties. Mr. Bush broke a similar tie on nerve gas production in July. The House bill contained no money for nerve gas, which has been out of production since 1969. Differences in the two bills will be resolved in a House-Senate conference.

Because of an editing error, an article yesterday on election contests gave an incorrect date for the Boston mayoral election. It is next Tuesday.