Princeton alma mater as background music?

Throughout much of the film Captain Flagg (James Cagney) complains about young, inexperienced lieutenants in positions of responsibility. Many of them are college graduates and sons of the upper class churned out in Officer Candidate School programs.

If I remember correctly . . .
as one of them dies heroically--and wins Flagg's respect--he utters the line "What price glory?" In the background, some music is playing. It sounds like the last lines of Princeton's alma mater* ("Old Nassau"). Can anyone verify this? And if it is "Old Nassau" playing, did someone on the film production staff have a tie to Princeton?


*("...as long as we shall live, three cheers for Old Nassau!")