We apply stochastic quantization method to Kostov's matrix-vector models fo
r the second quantization of orientable strings with Chan-Paton like factor
s, including both open and closed strings. The Fokker-Planck hamiltonian de
duces an orientable open-closed string field theory at the double scaling l
imit. There appears an algebraic structure in the continuum F-P hamiltonian
including a Virasoro algebra and a SU(r) current algebra. (C) 1999 Publish
ed by Elsevier Science B.V. All rights reserved.