Among the deals priced was a competitive offering of $100 million worth of first mortgage bonds for the Alabama Power Company.

Last month an offering of $4 billion worth of T.V.A. securities was snapped up by investors.

Trading was sluggish as market participants struggled with an offering of $9.5 billion worth of two-year Treasury notes.

An offering of $11 billion worth of 10-year Treasury notes was fairly well received in the credit markets.

Yesterday only one new deal was priced, an offering of $150 million worth of floating-rate notes from First Interstate Bancorp.

A widely publicized offering of $100 million worth of zero-coupon bonds aimed at small investors met with a good reception, according to market participants.

The largest competitive sale was an offering of $252 million worth of noncallable general obligation bonds by the State of Washington.

Municipal bond participants said that an offering of $600 million worth of serial and term bonds sold by the Denver International Airport went well.

Morgan Stanley & Company acted as lead manager on an offering of $150 million worth of securities for the Limited Inc.

The Bank of America won an offering of $165 million worth of bonds from the State of California.