If you're an A & C fan this is considered one of their best, so enjoy. Little kids laugh at the antics of Lou Costello so they will be entertained. If you're an adult looking for something clever you should look elsewhere. A & C are pure nostalgia at this point---something pleasant from grandpa's childhood. Watching their films now can be painful (for some they were painful when they first came out!) 'Hold That Ghost' is the team's first effort in the comedy-thriller genre that they're most famous for today. It has that atmospheric Universal horror scoring from Hans J. Salter helping it throughout, and the truly talented Joan Davis providing expert comic support. Otherwise it is a stale stew of jokes, puns and patter more horrifying than the ghosts. Hold the jokes and free the ghosts! The funniest material in the film involves Joan Davis, while equally capable performers like Mischa Auer and Shemp Howard are given almost nothing to do (Howard having a thankless bit as a soda jerk). Costello's babyish act as 'The World's Stupidest Man' gets old fast, especially considering he's given the world's oldest lines to deliver (Davis: "Post Office is a kid's game." Costello: "Not the way I play it." wheeeeeze.) Oh, the gut-busting that will commence when Abbott asks for some duck on a plate and Costello drops to the ground thinking Abbott meant duck from something coming at him... or Abbott telling Costello "Give him the slip" and Costello thinks he means underwear... or Costello asking gangster Moose if he wants oil for his car's engine, not once, not twice, but seven times for no apparent reason. The gags don't build, they just get repeated over and over, like the 'floating candle' or the 'changing room' scenes. Fun once, but having Abbott rush back in the room to see things back to normal, to Costello's exasperation, isn't funny if it keeps being repeated... and the viewer already knows it's only going to happen again.
And the film is sloppily directed: Not only featuring the goofs recounted on the IMDb page for this film, but other unaccountable idiocies strewn throughout. For instance, Costello finds a stash of guns in Moose's car... and the first thing he thinks to do is put one of the revolvers to his own head and pull the trigger? Huh? And soon after he is shot at by the cops and a bullet loosens his bow tie. Fine, except that Costello is facing forward toward the camera, thus the bullet should've gone right through his neck! Sloppy. And at the climax, Costello pulls cash out of a moose head, and I mean he's pulling and tossing the stuff out in mounds... but just after, he steps down from the moose head and sees the pile of cash on the ground and reacts with shock at the sight, seemingly unaware at what he's been pulling out of the moose head for the past five minutes! Say what? Of course, it's a film directed by that hack Arthur Lubin, so you can't expect much, but this is really pushing the stupidity level. Poor Costello shouts, blusters, falls, huffs and puffs and practically herniates himself to put across this stale material, but except for kids, he doesn't come across well. Abbott seems more engaged and pleasant at first, but the overriding need to have him slap and bark commands at Costello takes over and he becomes unpleasant to watch for the remainder. But childhood memories of A & C are sacrosanct, so there is no getting past the old glow for the team's old fans. Newcomers beware.