WOW. Cannot thank you enough! Can't believe it's Farnon- it's certainly not like anything else I've heard by him (but then, that music isn't quite like ANYTHING else). My guess would've been Wilfred Josephs, whose "Six Bizarre Episodes" contains the original "Chiller Theatre" theme, "Horror Upon Horror," but that was a dead end (so to speak). Neither this piece nor the LP seem to be anywhere online, though, confusingly, there's ANOTHER Farnon piece with the exact same title "The Terror Strikes"- but a completely different piece of music! Anyway, thanks again and I hope there are other people out there with an an interest in the topic of library themes from NYC local TV of the 1960s!