Tex Schramm, president of the Dallas Cowboys, last night denied persistent reports by league sources that the Cowboys are making a last-ditch effort to obtain the draft rights to Stanford quarterback John Elway by offering defensive tackle Randy White, quarterback Danny White and draft choices to the Baltimore Colts for the No. 1 pick in Tuesday's National Football League draft.

"The Cowboys want Elway badly," a source close to the Colts said last night. "They are really going after him."

But Schramm said it just wasn't true that the Cowboys were actively bidding for Elway.

"We've been talking to them (the Colts) just like everyone else," he said. "But we are not talking to them at this time. At this stage, I don't see anything happening. You can never rule out the possibility, but it's not very likely . . . We already have quarterbacks. It's a little different story for us."

The reports about the Cowboys came on a day when the San Diego Chargers, considered the most likely to make a deal with the Colts for the rights to Elway, secured a third first-round choice in the draft.

The Chargers sent both their 1983 second-round selections to San Francisco for the 49ers' No. 1 pick. San Diego now has the fifth, 20th and 22nd choices in the first round.

The Colts apparently want at least three first-round picks for Elway. Thursday, they rejected an offer from New England that included three No. 1s. However, only one of those was in this year's draft.