The Actor's Studio continues its month-long series of Group Theatre readings May 3 with Success Story, one of two John Howard Lawson plays the company produced. By May 17, the Studio will have read each of the 23 plays the Group produced during its existence.

The production, which opened Sept. 26, 1932, at the Maxine Elliot Theatre, was a tour de force for the acting siblings Luther and Stella Adler. Luther played Sol Ginsberg, an assistant statistician in an advertising firm who is resentful of the capitalistic class system represented by his boss. Slowly, Sol works his way up to a dominant position in the firm but finds he is still dissatisfied. Stella, interestingly, played the Jewish girlfriend Luther casts aside for his boss' mistress.

Franchot Tone played Sol's employer. The show played 121 performances. Lee Strasberg directed.

A spokesman at the Actor's Studio said it was their "philosophy" not to reveal the cast of the reading beforehand. The reading begins at 7 PM at the Studio, at 432 W. 44th St. To make a reservation , call (212) 757-2467.

-- By Robert Simonson