It was a good night for boxing but less than perfect for two of Washington's top young professional prospects last night as an estimated 1,000 fans crammed the main ballroom at the Hyatt Regency-Capitol Hill for a well received "resort-style" show.

Derrik Holmes, the local featherweight who fought for the world title two years ago and lost, managed to hold on for a unanimous decision over Donald Alston of Summerville, S.C., in the feature. But he had to battle fatigue and leg cramps the last three rounds to win the eight-round match.

Worse was the fate that befell highly touted welterweight Lloyd (Honeyboy) Taylor, who was mauled and bulled around the ring by veteran Manning Galloway of Columbus, Ohio, in the cofeature. After eight rounds Taylor was bloody, bruised and by unanimous decision the loser for the first time in his pro career.

Taylor's manager, Dave Jacobs, had his fighter taken to Capitol Hill Hospital for repair of a deep gash over his eye. The cut was opened in the final round and Taylor, who prides himself on his looks, was not a pretty sight with purple blotches clouding his face.

Jacobs had wanted to give his young fighter a boxing lesson, but fellow trainer Jose (Pepe) Correa, watching from ringside, said, "He wasn't thinking of anything like this."

In a preliminary, junior-lightweight Kenny Baysmore provided the class of the evening with a knockout of Paul Rutledge of Columbus. Baysmore, in only his third professional fight, dominated Rutledge (3-3), sending him to the canvas twice in the first round, again in the second and decking him with a hard right straight to the chin at 2:07 of the fourth round.

Rutledge managed to rise at the count of eight but clearly was dazed and mismatched anyway. Referee Norvell Lee stopped the bout.

That brought on Taylor, who was 10-0 with nine knockouts coming into this bout.

He was game but unable to handle the unorthodox Galloway, who is ranked 14th nationally by the U.S. Boxing Association. Galloway was too strong and too tenacious for Taylor, and afterward the Ohioan said Taylor "took me too lightly. He thought he could come in and knock me out early. But he doesn't have the ring knowledge I do."

Neither Taylor nor Jacobs argued with the judges' unanimous decision.

Holmes was the superior boxer in his match with Alston, but the muscular fighter from South Carolina confounded Holmes with a roundhouse right that landed about half the time he threw it.

Holmes kept to his strategy of outboxing Alston, dancing and landing his speedy left jabs, followed by straight rights. The decision was all in his favor despite the fact that he was leg-weary after five rounds and in the eighth and final round resorted to hanging onto the ropes and tying up his opponent when he advanced.

Earlier, Thomas Baker (8-1) of Washington outpointed Ralph Johnson (0-2) of Washington, winning unanimous decision in a six-round bout, and Bob Moore of Washington scored a six-round split decision over Mike James of Hillcrest Heights. It was the second time they had fought to a close decision, both won by Moore.

All the matches on the card but one were close enough to be interesting, and the crowd fans who paid $15 to $25 to watch the proceedings under glittery chandeliers seemed satisfied.

The lowlight of the evening was a women's bout between Doreen Lefeged of Potomac and Glenda Buckley of Washington, which was a mismatch, Lefeged taking a unanimous decision in four rounds.

Hyatt sales director Rick Masucci said the hotel staged the fight, in conjunction with Rock Newman Productions, with some trepidation. But Masucci said he was delighted with the outcome, with the size and temper of the crowd, and that Hyatt is expected to be the scene of a similar show late in August by the same production company. PHOTOS(By Joel Richardson for the W.P.): A fatigued Derrik Holmes, left, fends off Donald Alston in winning a unanimous decision in their featherweight bout. Donald Alston, left, ducks a punch by Washington favorite Derrik Holmes at Hyatt Regency.