Liland, I have a copy of Carmina Princetonia: The Princeton Song Book, 21st ed., edited by A University Committee (G. Schirmer, 1927). Two versions of the song (one for mixed voices, the other for glee club arrangement) are included there (pp. 2-3). Words were written by H.P. Peck in 1862. Seemingly, it was inspired by the "Auld Lang Syne" tune, but the "Old Nassau" one is said to be "music by Karl A. Langlotz" and is quite different in melody and rhythm. Interestingly, in the same songbook (p. 46), there is another song, entitled "Come, Senior, Come" (also by H.P. Peck, '62), whose tune is definitely "Auld Lang Syne," and the familiar Auld Lang Syne words are also given with it. I quote the first verse: Come, Seniors, come, and fill your pipes, Your richest incense raise; Let's take a smoke, a parting smoke, For good old bygone days! (Chorus) For dear old Nassau Hall we'll smoke, And good old bygone days! We'll take a smoke, a parting smoke, For good old bygone days! The writer of the information you've got is apparently misled by the two different Princeton songs. Incidentally, "Old Nassau" is also included in The Most Popular College Songs (Hinds, Noble & Eldredge, 1904, 1905, p. 100).
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