May 12, 1986

The bulls that have been running on Wall Street since last September are giving new life to many of the stock market's most venerable names. But some of the headiest performers in the surge have been fledgling stocks that were not even around last fall. Sparked by names like Coloracs, Digitext, Morgan Stanley, Microsoft and Beauticontrol Cosmetics, an index of the most recent initial public offerings outperformed the market's well-known barometers by a handy margin for the first four months of the year. By the end of April, the 100 most recent new issues showed gains averaging 21.2 percent, according to the publication Going Public: The IPO Reporter. This exceeded gains of 15.3 percent for the Dow Jones industrial averagae and 11.5 percent for Standard & Poor's 500-stock index. The runup in new-issue prices and the overall bull market, in fact, are touching off one of the busiest times ever in the issuance of I.P.O.'s, Wall Street's term for the first-time offerings of public stock in a corporation. From January to April, underwriters brought 126 such deals to market for a record $3.5 billion.

The Economy The effects on middle-income taxpayers are less clear-cut in the Senate panel's plan than in the House-passed bill, according to an analysis of hypothetical cases. For taxpayers with a common deduction mix, the plan's lowering of rates may not be enough to offset the loss of those deductions. And some who would get a tax cut with the House bill face an increase under the Senate plan. [ Page D1. ]

Anatoly B. Shcharansky thanked hundreds of thousands of New Yorkers yesterday for raising the ''voice of freedom'' year after year in behalf of Soviet Jews who are imprisoned, persecuted or denied the right to emigrate. Mr. Shcharansky, the human-rights activist who was freed from a Soviet prison in February, delivered his message at the annual Solidarity Sunday for Soviet Jewry, a rally at Dag Hammarskjold Plaza in Manhattan. The last nine years, his wife, Avital, had spoken for him at the rallies while he languished in labor camps and jails. ''My K.G.B. interrogators, my prison guards, they tried to convince me that I was alone, powerless in their hands,'' Mr. Shcharansky told the crowd, some of whom had marched to the plaza near the United Nations along a parade route that began at Fifth Avenue and 64th Street. The police estimated the audience at 300,000.

Ted Bates Worldwide, the third-largest American advertising agency, has agreed to be acquired by Saatchi & Saatchi of London, Britain's and Europe's largest, for $400 million down and another $50 million in 1988, according to sources close to the negotiations. The $450 million total is more than four times the previous highest amount paid for an agency, the $100 million or so that Saatchi agreed to pay for Backer & Spielvogel in mid-April. Unlike most deals, however, the purchaser on this occasion has not made any preconditions on performance for the second payment. But it will be contingent upon a complete review of Bates's business before the deal is closed. $7.5 Billion in Billings What the acquisition will create will be the largest advertising company ever to exist with billings of some $7.5 billion and at least 150 wholly owned offices in some 50 countries.

They did not know about the corruption scandal that has enveloped the Koch administration. They could not have known, and given the nature of city government, it is conceivable the same thing could happen again. That is the shared opinion of current and former members of the city's powerful Board of Estimate when asked what they could have known, and when they could have known it, about the ongoing scandal. Most questions about how or if the corruption might have been detected have centered on Mayor Koch and his aides because the center of most charges of wrongdoing is a department in the Koch administration, the Parking Violations Bureau. But others, including Board of Estimate members, played roles in approving plans and contracts that prosecutors later called into question. And just as Mr. Koch says he could not have detected what was going on beneath the surface in one of his departments, other board members maintain they could not have been aware of problems with some contracts that came before them. Relied on Judgment of Koch Aides They relied on the judgment and expertise of Koch administration officials in the Parking Violations Bureau who lied to them, the board members said.