My Dad used to play this on ukulele and these are the words he sang. I never heard it anywhere but from him so I have no idea if he made up this version or if it was popular in the 1920's when he was young:

There's a little old shack
by the railroad track
with the green grass growin' all around, all around.
The roof is so slanty, it touches the ground.
And Alice is there with her silvery gown,
in the shanty, in old Shanty Town.

I'd give up a castle, if I were a king.
I'd give up my mansion, my everything
Just to see Alice there in her silvery gown,
In the shanty, in old Shanty Town.

I've gotta get back to my Sha-an-ty Town.