Lyrics:

This town is full of guys
Who think they're mighty wise,
Just because they know a thing or two.
You see them every day
Walkin' up and down Broadway,
Telling of the wonders they can do.
There's con men and there's boosters,
Card sharks and crap-shooters.
They congregate around the Metropole.
They wear fancy ties and laces,
But where do they get their aces?
They all have got an ace down in the hole!

Some of them write to the old folks for coin,
And that is their ace in the hole,
And others have friends on the old Tenderloin;
That's their old ace in the hole.

They'll tell you of trips that they're going to take
From Florida to the North Pole.
The fact is, their name would be mud,
Like a chump playing stud,
If they lost that old ace down in the hole!