Some came as spectators, others to show their support for Baltimore mayoral hopeful Lawrence A. Bell III at a fund-raiser last night.

Whatever the reason, Bell's first major fund-raiser of this election year garnered $430,000 for a potential mayoral race.

The $500-a-ticket event drew a crowd packed with the politically powerful, including state Comptroller William Donald Schaefer, Montgomery County Executive Douglas M. Duncan and Kweisi Mfume, Bell's cousin and president of the National Association for the Advancement of Colored People.

Former Harford County Executive Eileen M. Rehrmann also attended, as did influential business leaders such as Joseph A. De Francis, the principal owner of Laurel and Pimlico race courses; construction magnate Willard J. Hackerman; developer Otis Warren; and contractor Robert L. Clay.

"There's a lot of money in this room," said Gene M. Raynor, a Schaefer ally and former chief of the city and state election boards.

The fund-raiser at the Harborview Condominium and Yacht Club on the downtown waterfront was expected to be a defining moment in Bell's pursuit of the mayor's job. The City Council president is widely considered the leading contender if he runs, but he needed to demon- strate that he could raise money.

With the money from the fund-raiser, Bell, who has not declared his candidacy for mayor, has a solid foundation to build a campaign. Those attending the event praised him for a speech in which he called on the Baltimore community to unite.

"Now is the time that we've got to fight for one Baltimore," Bell said.

But a cloud hangs over Bell's possible candidacy and the mayor's race. Although many political and business leaders attended the fund-raiser, several remained noncommittal about whether they would back Bell.

"He made a good speech. I liked his speech about one Baltimore," Schaefer said. "I was very impressed. We still have a long way to go."

Mfume, whom many state lawmakers and other political and business leaders are urging to run for mayor, would not commit to endorsing Bell. He said he also plans to attend a fund-raiser for Carl Stokes, a former councilman and school board director who has declared his candidacy.

"Lawrence is not a candidate," Mfume said. "There's a long way to go before the filing deadline in July. I'm just here like everyone else."

When asked if he planned to join the race, Mfume gave his famous smile and said he had to go. "One day we will have a talk," he said as he walked away.

Warren, the developer, said he is supporting Bell but acknowledged that he would love to see Mfume join the race. "Mfume: He's such a great leader."

Some political observers say that the possibility of Mfume's candidacy helps him win free publicity in case he chooses to run for mayor or any other political office.

Before some major financial contributors decide whom they will back, they want to see who else joins the race.

"It's too early," said Orioles owner Peter G. Angelos, who did not attend last night's fund-raiser but had representatives at the event. "There are a number of candidates who are interesting and appear to have a willingness to help the city."

Bell's campaign organizers said that the amount of money raised last night shows his strength.

"We exceeded our expectations " said Julius Henson, a consultant for the Bell campaign. "Nobody else has this kind of money."

Henson added that the campaign plans to hold several other fund-raising events over the next six weeks and generate another $400,000.

"There's a field that is very weak with one strong candidate," Henson said. "This was a defining moment in the campaign."

Sun staff writer Eric Siegel contributed to this article.

Pub Date: 3/05/99