Lunt-Fontanne Theatre, for the benefit of the American Musical and Dramatic Academy, Alexander H. Cohen presents Elizabeth Taylor, Richard Burton in "World Enough and Time," a reading of prose and poetry, introduced and directed by Philip Burton, lighting by Ralph Alswang, Miss Taylor's gowns by Irene Sharaff, benefit chairman: Mrs. Alfred Strelsin, co-chairman: "Mrs. Rita Fredricks, benefit coordinator: Mrs. Liska March.