"The line is here come Johnny singing I've got a woman down in the tunnels trying to make it pay"

Is he down in the tunnels singing a song called "I've got a woman" in order to make a living/profit?

Or is he simply trying to make it pay by singing about the woman he has down in the tunnels?

Is he singing that he's got a woman down in the tunnels trying to make it pay, presumably off her earnings in the tunnels?

Vocal punctuation would be so helpful.