The album tells the tale of a man picking up the pieces after being left by his wife. He raises his two children, earns the sympathy of his neighbors, and quietly tries to win her back. The record ends with him waiting in the rain at a train station, the wife having gone back on her promise to return.
Originally composers Bob Gaudio and Jake Holmes included ‘Lady Day’ as an epilogue to the Watertown album, conceiving it as a tribute to the Elizabeth character. But somebody (perhaps Sinatra himself) decided it didn’t fit in with the rest of the album and left it off.
An excellent decision, if you ask me. While ‘Lady Day’ is a lovely song, it is completely different in tone and content than the rest of Watertown. It has none of the album’s narrative focus, none of its effective specificity.