This is a simple ragtime fingerpicking pattern. Outside of the intro and turnaround, all you need to do is play out of a couple of chord fingerings, mainly C (measures 2,4, 7-8), Bb7 (barred - measures 5,6), and G (measures 9,12 with a little G7 thrown in).
This one gives a good pinky workout -- all of the variations on the chords in measures 4-9 are done by moving the pinky around.
Once you get your left hand positioned right and the pinky moving, it's just a question of working the alternating bass real slow and speeding up until it works.
By the way, for those of you who don't know old hokum stuff, check some out -- you won't find cleverer double entendres anywhere. Harry's Blues Lyrics website (check the WholeNote resource section) has a multitude of such lyrics.