Squeezed between between two apartment buildings on the Lower East Side is the shuttered and moldering Loews Canal Theatre. Jerry Stiller remembers spending idylic Saturdays here watching movies. Eddie Cantor chose the place for the 1940 premiere of Forty Little Mothers. Opened in 1927 at 31 Canal Street (near Ludlow) the moviehouse lasted into the 1950s and served as an electronics appliance store for awhile in the 1960s. Although the theatre facade won city landmark status five years ago, plans to make the space a neighborhood performing arts center appear stalled. Pity.