HOLLYWOOD -- The American Movie industry's annual period of joy and sorrow - the night of the Oscars - has passed and left in its wake less bitterness than usual. Though there was some surprise at the number of Academy Awards won by ''West Side Story'' - ten - there was little quarreling over the fact that the musical had been chosen as the best movie of 1961. There seemed to be general agreement that one reason ''West Side Story'' was able to defeat ''Judgment at Nuremberg,'' ''The Hustler,'' ''The Guns of Navarone'' and ''Fanny'' was that its choreography, music and direction were devoted to the serious theme of the brotherhood of man.

It is unlikely that the pure escapism of the musical was as important to the voters of the Academy of Motion Picture Arts and Sciences as was the tragedy of this modern ''Romeo and Juliet'' set against a slum background of New York juvenile gang warfare.

It was only natural that the ''West Side Story'' celebrating should have been done by Jerome Robbins and Robert Wise, who won Oscars for directing; Rita Moreno, for supporting actress, and George Chakiris for supporting actor, and the few other Oscar winners connected with this film. Then it greatly gratified the Mirisch Company, which assembled ''the package'' for the production. And there was great pleasure at United Artists, which distributed the picture as well as ''Judgment at Nuremberg.'' An Oscar victory of this sort can add a million dollars to the box office.

Cheerful Augury

But beyond that, last Monday night at the Santa Monica Civic Auditorium was a happy one for all moviemakers who believe that the future of films - commercially as well as artistically - is in the hands of the independent, that the only way in which a major studio can hope to compete any longer is to hire talented men and women and to allow them artistic freedom. This has been the secret of the success of United Artists and of the Mirisch Company, the independent producing company that releases through United Artists.

For years, even after television shriveled the power of the major studios of Hollywood, many studio executives have continued to think they can dominate the most gifted of moviemakers as they had in the days when they owned stables of stars, directors and writers. But as United Artists continued to show profit - and artistic merit - year after year, other studios have followed its formula in varying degrees.

This year's lest of nominees for Oscars was a clear token of what has happened. For this year all five of the nominees for best picture of the year were made by independents, though some were financed and distributed by the major studios. Stanley Kramer, on of the most famous of the independents, produced and directed ''Judgment at Nuremberg.'' Robert Rossen, an independent, produced and directed ''The Hustler'' for Twentieth Century-Fox. Carl Foremen, an independent, produced ''The Guns of Navarone'' for Columbia, and Joshua Logan, also an independent, made ''Fanny'' for Warner Brothers.

Artists' Day

Perhaps, in a sense, the tax laws that mean so much in the high-bracketed world of Hollywood, have worked in favor of the independents. For in these days when taxes take so large a cut of six-digit incomes, there is little sense in an important director worrying too much about money even if he wants to. The basic considerations have become artistic freedom and the subject of the movie. It is hardly accidental that now under contract to United Artists are Billy Wilder, Fred Zinnemann, William Wyler and George Stevens.

This year's Academy presentations, apart from reinforcing the prestige of the independents, set a precedent when they included an Oscar for Sophia Loren, for the best performance by an actress in her role of the mother in ''Two Women.'' For Miss Loren thus became the first foreigner to win an Oscar in a major category for work in a foreign-language film. In the past, foreigners had won such Oscars, but in English-language movies. This was true, for example, of Simone Signoret, whose performance in ''Room at the Top'' was honored by the Academy.

Precedent

The triumph of the Italian star marked an important breakthrough in a barrier of prejudice against foreign talent, as well as foreign-language films. Thus, last year, when Melina Mercouri, star of ''Never on Sunday,'' was a nominee for best acting, there was a campaign against her in the most important Hollywood columns. And it may be accidental, but the fact remains that Deborah Kerr has been nominated repeatedly for best acting and has still to win an Oscar.

This year the Academy's members, of whom some 2,300 were eligible, also honored the Swiss actor, Maximiliam Schell, for the best performance by an actor. But Mr. Schell's portrayal of the defense attorney for Nazis in ''Judgment at Nuremberg,'' was in an English-language movie.

Apart from Mr. Schell, the only other person able to make an appreciable dent in the ''West Side Story'' sweep was Abby Mann, who received an Oscar for his script for ''Judgment at Nuremberg.''