Alas, Rags only lasted four performances -- yet it still received five Tony nominations, including ones for Best Music and Best Original Score.
The story is a bit dark, concerning immigrant Jews at the turn of the century trying to make a life for themselves, but caught in the rag trade. The show, when I saw it, was mixed. Keeping in mind that it wasn't the greatest production, overall I liked it quite a lot. The first act, in fact, was tremendous. It weakened a bit in the second act (for reasons at this point I don't recall exactly), but I think it was because the serious turned in on itself a bit too much and impacted the score and scope of the show. But for the most part, I thought it was a good show.
This is the title song, presented on the 1987 Tony Awards, and I particularly like it because it features one of my faves, Judy Kuhn (who went on to create the role of 'Cosette,' in the Broadway production of Les Miserables -- and appears in the 10th anniversary all-star production -- though she's probably best recognized by a legion of kids as the singing voice is Disney's Pochahantas.). She received a Drama Desk nomination for Best Featured Actress in Rags. (The show's star, Teresa Stratas, got a Tony nomination for Best Lead Actress in a Musical, She later left Broadway and had a successful opera career.) Also in the video is Dick Latessa.
Here then is "Rags" from...Rags.