Every tenderfoot cadet bettered slit-throat percentages
Chicken penmanship tied the thirteenth knot (Hangman)
Note that the song begins with him quietly saying “This one’s for me” which seems to refer to the fact that many lines are likely cryptic personal references.
Most of his classmates out of school quickly entered the cutthroat percentage-based capitalist society. The second line alludes to a suicide, possibly of someone he knew growing up. Chicken penmanship could be a way of saying someone had chickenscratch writing, but the reference isn’t totally clear.
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