I've been listening to this song at Honking Duck. It sure is a tough one. Here's what I think I can hear. The time in brackets indicates the point where each verse (or the chorus) begins. I have not bothered to show repetitions of the chorus.


OLD HAT
As sung by the Leake County Revelers

1. [0:15] When you hear your cow a-lowing,
You know it's milkin' time.
... ol' Jersey.
Let your milk come down.

CHORUS 1: [0:23] Gwine on down to town,
Gwine on down to town,
I'm goin'* on down to Vicksburg [or Lynchburg?] town
For to use my banjo sound.

2. [0:58] I went up to the ... house.
The ... wasn't at home.
I ain't gonna ... find me,
... bone.

3. [1:26] ... stole a punkin.
He tolled it away to town.
An' he couldn't ...
An' he throwed his punkin down.

4. [2:08] Raccoon up the 'simmon tree,
Possum on the ground,
And the possum said to the raccoon:
Will you shake some 'simmons down?

5. [2:36] Raccoon on the main line,
Possum on the swing;
The rabbit ain't no railroad man
But a runnin' son of a gun.

[*In some repetitions of the chorus, he uses "gwine" in place of "goin'".]