Jolson had nothing to do with it. They put his name on it so he could get a slice of the money. A fact filtered through movies:
In the movie Funny Lady, Billy Rose admits to wife Fanny Brice that the shadow in the song was Nicky Arnstein, Fanny's criminal husband before Rose.
Makes it a bit more ominous, doesn't it.
It charted three times in 1927; these two versions show the breadth of 20s pop music.
Nat Shilkret did a version - and Johnny Marvin sung this one too:
Johnny died of dengue fever. (It's bad.)