Molnar's dreamlike tragedy-fantasy is, as another poster said, just the meat for Frank Borzage, and he invests the material with a typically deft, warm hand. Those of us who love "Carousel" (I think it's the greatest musical ever written) will be struck by how similar they are, with nearly identical dialog in some spots, from a translation by Benjamin Glazer (though the translation is also rumored to be by one Lorenz Hart). The expressionistic, Murnau-like sets fit well, though they're illogical--would Liliom and Julie really have a picture window looking directly out on the amusement park? I'd give it a higher rating, but there's a fatal flaw: Charles Farrell, good-looking as he is, hasn't the requisite swagger for Liliom, and his high nasal voice isn't suitable. Rose Hobart is a suitably quiet, introspective Julie, and there's wonderful work from a young Lee Tracy. The Budapest setting isn't altogether realized, but there's some lovely, Kalman-like scoring, and the surviving print is, for its day, excellent.