An article yesterday incorrectly stated that Rep. Stan Parris (R-Va.) is using money raised during an unsuccessful bid for governor last year to finance his congressional reelection campaign this year. His gubernatorial campaign funds are in a separate account. (Published 7/20/90)

Alexandria Mayor James P. Moran Jr. has raised more than $400,000 in his campaign to unseat Rep. Stan Parris (R-Va.), topping Parris in fund-raising for the last six months and becoming one of the richest congressional challengers in the country.

In another hotly contested race, Rep. Roy P. Dyson (D-Md.) continues to hold a financial advantage over a crowded field, but two contenders, Democratic Del. Barbara Osborn Kreamer (Harford) and Republican Raymond Briscuso, have begun to amass sizable treasuries.

According to federal campaign finance reports that detail fund-raising through June 30, Moran, a Democrat, has raised $418,000 since Jan. 1 and has $268,000 in cash. Parris has raised $325,000 this year and has $280,000 in cash. Parris's cash includes money left over from an unsuccessful race for governor last year.

Parris, a 12-year House veteran, represents Virginia's 8th District, which covers Alexandria, southern Fairfax County, eastern Prince William County and northern Stafford County. He is favored to retain the seat, but political analysts say Moran is the strongest challenger Parris has faced in years. Parris is one of the state's most prodigious fund-raisers and has held a huge monetary advantage over recent Democratic challengers.

Spokesmen for both the Democratic and Republican national congressional campaign committees said yesterday that very few non-incumbent candidates have raised $400,000, and that Moran appears to be among the five wealthiest challengers in the country.

Officials in both the Moran and Parris campaigns said Moran's treasury indicates that their race will be competitive.

"We're really happy," said Mame Reiley, Moran's campaign manager. "This sends out a message that we're a viable campaign. We're right where we want to be to meet our target," a total budget of more than $1 million.

Randy Hinnaman, Parris's campaign manager, said Moran's treasury "doesn't surprise us. We expected a serious race and we've planned accordingly . . . . We actually have a little bit more than he does in the bank. And we expect to out-fund-raise him in the long run."

Parris will get some help from the national Republican Party next week, when Vice President Quayle is scheduled to attend a $500-a-head fund-raiser in the District. The event is aimed primarily at representatives of political action committees.

Campaign finance reports show that both Parris and Moran are drawing heavy financial support from Northern Virginia's powerful real estate development industry. Both list many contributions of $500 or more from developers such as Dwight Schar, of McLean, who along with his wife gave the legal maximum of $4,000 to Parris, and Peter C. Labovitz, of Alexandria, who gave $1,000 to Moran.

Moran has received several contributions from political action committees run by organized labor groups, a traditional source of support for Democrats, while Parris has gotten gifts from several PACs affiliated with the defense-contracting industry.

Hinnaman declined to comment yesterday on Moran's decision this week to return a $10,000 contribution to an Alexandria developer, Hubert Hoffman, after questions were raised by The Washington Post. The donation was made to a previously undisclosed political committee that Moran chartered under state law, which does not limit contributions. It would not have been legal under federal law.

Dyson represents Maryland's 1st District, which includes all of the Eastern Shore, Southern Maryland and part of the state near the Pennsylvania border. According to campaign finance reports, he has taken in $122,000 this year, but already had begun raising a sizable treasury last year. He has $100,000 in cash.

Kreamer, who is vying with Dyson in the Democratic primary Sept. 11, has raised a total of $107,000. She raised about $60,000 in this reporting period, and spent $42,000. Among the eight Republican candidates who have a primary the same day, the top fund-raiser is Raymond Briscuso, who has collected $126,000 this year -- more than Dyson for the same period -- and has $48,000 in cash.

Dyson has yet to recover from a series of political setbacks over the last three years. A top Dyson aide committed suicide after questions were raised about the way he administered Dyson's office. And Dyson returned about $20,000 in campaign contributions from defense consultants who were implicated in a probe of Pentagon corruption.

The Republican national campaign committee has targeted the race and pledged extensive help to whoever wins the primary.

Staff writer Howard Schneider contributed to this report.