There ain't no sense sitting on the fence
All by yourself in the moonlight.
There ain't no thrill by the watermill
All by yourself in the moonlight.
There ain't no fun sitting beneath the trees
Giving yourself a hug, giving yourself a squeeze

Can't find anything on it in Levy or at American Memories - but the site where I found this said that it dated to 1928.

I was also listed as a song from a musical in the 1980's - and credited to "traditional"