The Baldies club song was written by club founder Paul Waldren and continues to provide great entertainment for the players and kids. After a win the song is belted out usually with all available children in the middle of the circle and in full voice. Over a bottle of red ‘Big Wally' penned the words which led to him being made the first Bald Life Member. (Paul is infamous for missing the Team of the Century after suiting up for a game in our second year but not running on. Criteria was having played in both of the first two seasons!)
The song is sung to the Carlton theme song which has several different people who claim to have written the song. The one arguably with the strongest claim is that it was written by Agnes Wright and her cousin Irene McEldrew (Agnes mother was Dan Minogue’s sister Dorrie, so her uncle was Dan Minogue) the then coach of Carlton (1929-1934) and was written around 1929 to 1931 when Lily of Laguna was again a popular song in Australia. Agnes lived in Middle Park/Albert Park and did have several Carlton players boarding with them like Soapy Vallence and Eric Huxtable etc. One day after training/or a good win these Carlton players "demoaned" the fact that Carlton didn't have a theme song". So Agnes and Irene composed the Old Dark Navy Blues (with these players?). Another claim is it was written by Jeffrey and Anne Hales.
Lily of Laguna is a song written in 1898 by Leslie Stuart and performed by Eugene Stratton. It was a popular tune in the early part of the century and was even said to be on the playing list of the band on the Titanic.
Of course, the Baldie version of the song is much better.

The Baldies song goes like this: 

We are the Bald Eagles
We are the Old Grey Bald Eagles We're the bird that never leaves the ground
We're the only bird that’s fat and round
We once were champions
We like to think that,
We tell our mates that
And they will know that they've been playing
Against the famous Bald Eagles