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Meese investigator finds no basis for prosecution

Independent counsel Jacob A. Stein reported Thursday he found no basis ''for the bringing of a prosecution'' against former presidential counselor Edwin Meese III. Mr. Meese was nominated by President Reagan in January to be attorney general to succeed William French Smith, who sought to resign.

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Mr. Stein began his investigation in April in behalf of a three-judge panel in Washington after allegations arose regarding Meese's fitness to serve as attorney general. Meese himself requested the appointment of an independent counsel when the nomination process bogged down.

In a 385-page report to the judges, Stein indicated he had investigated a total of 11 allegations but found no basis for a criminal prosecution in any of them. Senate Judiciary Committee chairman Strom Thurmond announced last week that he would not reopen hearings on the nomination until Congress met in 1985.

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