It is from the film Picnic, starring William Holden and Kim Novak.
The 1933 piece, "Moonglow", was written by Will Hudson, Irving Mills and Eddie DeLange.
The 1955 piece, "Theme from Picnic", was written by George Duning.
The Stoloff version spent three weeks at number-one on the Billboard Most Played by Jockeys music chart in the spring of 1956.
The B-side to the Stoloff version is "Theme from Picnic" by George Duning.