Johnny:
This town is full of guys
Who think they're mighty wise
Just because they know a thing or two

Bobby:
You'll meet them night and day
Strollin' up and down Broadway
Telling of the wonders they can do

Johnny:
Oh, sing it, Bobby boy!

Bobby:
I just did!

Johnny:
There's con men and there's boosters

Bobby:
There's card sharks and crapshooters

Johnny:
They congregate around the Metropole

Bobby:
If I knew what that meant I would agree with him
They wear flashy ties and collars
Johnny:
Yes, but where do they get there dollars?

Both:
They all have got an ace down in the hole

Johnny:
Yes, and some of them write
To the old folks for coin
And that is their ace in the hole

Bobby:
And others have friends on the old Tenderloin
That's their old ace in the hole

Johnny:
Why, they'll tell you of trips
That they're going to make
From Florida
To the North Pole

Bobby:
The fact is their name would be mud
Just like a chum playin' stud

Both:
If they lost that old ace in the hole
Johnny:
Oh, yes, now, some of them write
You'll find a lot of them write to the

Bobby:
Just a minute, just a minute, let the man play his piano solo

Johnny:
But, I want to sing tenor!

Bobby:
I don't really care if you sing ten or twenty minutes, after he's through playin' piano

Johnny:
Listen too 'em, I think I make it better than he does

Bobby:
Well, that's the nastiest remark I've ever heard

Both:
Listen now, if you don't like the way I sing, why don't you sing
I think ...
Sing Melancholy Baby! Sing something! ...

Bobby:
Why they tell you of the trips
They're gonna make
Over to Florida
All the way up to the North Pole
Johnny:
Oh, it's sad, sad

Bobby:
Volare!!

Johnny:
But, their names would be mud

Bobby:
Like a chump playin' stud

Both:
If they lost
That old ace
Ace in the hole

Bobby:
Have another drink