Gene asked me to add what I hear to his transcription. He's usually better at hearing things than I am, but here's what I hear:

LORENA
(Lyrics as sung by Johnny Cash and Burl Ives)

The years creep slowly by, Lorena,
Snow is on the grass again;
The sun is sinkin' low, Lorena,
Frost is where the flowers have been.

The music's sad and low, Lorena,
Happy sounds have left the day;
The banjos softly play, Lorena,
Where once they rang so loud and gay.

I hardly feel the cold, Lorena,
I pray this darkness soon will pass;
We'll sing those songs again, Lorena
You'll be in my arms at last.

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Notes on last verse
I hardly feel* the cold, Lorena,
I pray this/the** darkness soon will pass;
We'll sing those songs again, Lorena
You'll be in my arms at last.

* alternate: "My heart may feel the cold"
**Cash sings "this," Ives sings "the"

source: http://www.youtube.com/watch?v=jeeDOrZ8q58&feature=related

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This page (click) has a transcription from a Johnny Cash recording:

LORENA

(Charlie Williams)
« © '59 Central Songs, BMI »

The years creep slowly by Lorena snow is on the grass again
The sun is sinking low Lorena frost is where the flowers have been

The music's sad and low Lorena happy sounds have left today
The banjos softly play Lorena where once they rang so loud and gay

I hardly feel the cold Lorena I pray this darkness soon will pass
We'll sing those songs again Lorena you'll be in my arms at last

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Digital Tradition version of "Lorena" is HERE (click)