A somewhat earlier version (I heard it in the late 1940s) was called "Demon Fruitcake". The chorus was:

Away, away, with rum, by gum
It's the song of the Salvation Army.

The verses were:
We're marching, we're marching our brave little band
Against Demon Fruitcake we'll all take our stand

cho:

Oh can you imagine an awfuller sight
Than the man who eats fruitcake until he gets tight

cho:

The man who eats fruitcake goes down to his death
With the odor of raisins and rum on his breath

cho:

The man who eats fruitcake lives a terrible life
He mistreats his children and he beats his wife.

cho:

The man who eats fruitcake goes down in disgrace
As he rolls in the gutter with crumbs on his face.

cho

---

Note from Joe: the Guest who posted this message was either Dick or Susan of the Digital Tradition, not logged in (I'm guessing it was Dick). See the link above to the DT entry, "Demon Fruitcake."
Thanks, Dick (or Susan).
-Joe Offer-