Like a post above, this was a song our family sang on car rides in the 1970's, taught by my mother who likely learned it from her father who was in a fraternity at Union College,NY in the late 1920's. We learned the "gentleman handsome stepped over the transom" line, as well as "ways of college men, and how they come and go, [mostly go]." Also at the last lines, it was, "Let her sleep under the bar ["between the bottles" added a la barbershop style], Let her sleep under the bar."