NEW RELEASES : Leisurely Griffin, Appealing Raney : *** 1/2 SUE RANEY “In Good Company” <i> Discovery</i>

Singer Raney’s strength is as a ballad specialist, and on several tunes here--including “My Foolish Heart” and “ ‘Tis Autumn”--she displays that tenderly appealing side of her artistry.

Raney does have a couple of vocal quirks: a tendency to scoop tones upward and a habit of adding h ‘s to certain words ( and becomes hand ). Yet at her best she is one of our most overlooked and under-appreciated singers.

The backing on this album is notable, not only for the presence of ace pianist Alan Broadbent but also for the addition on several tracks of such luminaries as Conte Candoli on trumpet, Bob Cooper on tenor sax and Bill Watrous on trombone. Still, some of the simplest tunes, with just piano and rhythm, come off best.

The most successful upbeat piece is an ingenious amalgamation of “Indiana” and the 1940s be-bop melody that Miles Davis affixed to that standard--”Donna Lee.”

Albums are rated on a scale of one asetrisk (poor) to four (excellent). A rating of five asterisks is reserved for classic reissues or retrospectives.