Recently, we proposed the complete classical action for the non-polynomial closed string field theory, which succesfully reproduced all closed string tree amplitudes. (The action was simultaneously proposed by the Kyoto group). In this paper, we analyze the structure of the theory. We (a) compute the explicit conformal map for all g-loop, p-puncture diagrams, (b) compute all one-loop, two-puncture maps in terms of hyper-elliptic functions, and (c) analyze their modular structure. We analyze, but do not resolve, the question of modular invariance. © 1990.