THE VAULTS / CD REISSUES : Al Green Is Top Draw at Hi Records : VARIOUS ARTISTS, “Hi Times: The Hi Records R&B; Years”, <i> The Right Stuff/Hi</i> , *** 1/2

It’s easy to see why Memphis-based Hi Records isn’t mentioned more prominently in discussions of the great indie labels of the ‘50s, ‘60s and ‘70s.

For one thing, any label based in Memphis is bound to be overshadowed by the wonder of hometown rivals Sun Records and Stax Records. In addition, one of Hi’s artists--Al Green--was such a remarkable success story in the ‘70s that many pop observers tended to think of the company as simply a one-artist label.

This classy, wonderfully listenable three-disc package, with its nicely illustrated 64-page booklet, should help put the Hi story into perspective.

Green is clearly Hi’s main attraction, and the album’s 14 Green tracks--ranging from his 1969 remake of “I Want to Hold Your Hand” through such Top 10 hits as “Let’s Stay Together”--show why he ranks with Ray Charles, Sam Cooke, Aretha Franklin and Otis Redding as one of the greatest soul singers ever.

But Green’s not the whole Hi legacy. The strong supporting cast ranges from Ann Peebles (“I Can’t Stand the Rain”) and Syl Johnson (the R&B; hit version of “Take Me to the River”) to producer/band leader Willie Mitchell and the marvelous Hi Records rhythm section. A jewel of a collection.

Reissues are rated on a scale of one star (poor), two stars (fair), three stars (good) and four stars (essential).