Seeing Red (Ink): Sen. John Glenn (D-Ohio) is starting his reelection campaign with the biggest debt -- $2.84 million from his 1984 presidential race -- and smallest cash reserve -- $246,000 -- of any of the 27 incumbents seeking reelection. Glenn said his reelection committee raised $445,000 in the last half of 1985 and that the four Ohio banks that hold his notes will decide this month whether to restructure the debt. Sen. Alfonse M. D'Amato (R-N.Y.) has the largest war chest, $3.37 million at mid-1985, and Glenn's probable Republican challenger, Rep. Thomas N. Kindness, said he expects to raise more than $3 million. Glenn's two previous Senate races cost about $1.5 million each.

Moving Up? State Sen. Julian Bond (D-Ga.) announced his candidacy for the House of Representatives seat being vacated by Rep. Wyche Fowler (D-Ga.), who is running for the Senate. Bond, a 20-year veteran of the state legislature and a civil rights activist in the 1960s, wrote the 1982 reapportionment plan that created the predominantly black district in Atlanta. Several other well-known blacks are expected to enter the Democratic primary, including Atlanta City Councilman John Lewis, with Bond a cofounder of the Student Nonviolent Coordinating Committee.

Moving On? Ohio Senate President Paul E. Gillmor announced his candidacy for the Republican gubernatorial nomination. He'll face former four-term governor James A. Rhodes and state Sen. Paul Pfeifer.