According to the Catalogue of Copyright Entries, 1930 Musical Compositions For the Year 1930 New Series Vol 25 Part 3, page 1484, the song was composed by Dimosthenis Zattas with lyrics by Orfeas Karavias.
The song comes from the movie “Such Is Life", produced by the Hellenic Cinema Corporation.
Aikaterini Diakoumopoulou mentions the following in her presentation entitled "Dyo agnostoi Kefallonites ithopoioi tou Mousikou Theatrou: O Gerasimos Kourouklis kai o Panagis Svoronos", "Eptanisiaki Opera kai Mousiko Theatro eos to 1953". Proceedings of the Conference (Athens, 23-24 April 2010) NKUA-Online version of the Department of Theatrical Studies, Athens 2011, p. 43, point 35):
"In February 1931 a great surprise awaited the Greek-American public: they watched the first Greek-American feature film. The 'voice-cinema drama' was entitled 'Such Is Life' (the film premiered on 21/2/1931, see Such Is Life, Ethnikos Kiryx [National Herald, New York, issue No. 5779, 21/2/1931, p. 5) and was screened at Proctor's Cinema, located in downtown NY, Fifth Avenue & Broadway. The film was produced by Hellenic Cinema Corporation, but it was actually financed by the immigrant Antonis Danas. The screenplay was written by Orfeas Karavias. It was directed by Nikos Christodoulou, who was also the one who took the initiative to produce the film. The actors in the film were: Aris Loukas, Rita Karmi, Gerasimos Kourouklis (Pindaros), Lampis Vasilakis, Al. Anastasiadis, Katina Thymiou, Myrta Myrora, Lola Papadopoulou, Maki Karneri, Persa Vlachou, Sokratis Skiadas, Th. Karezos, Ant. Mavrogiannis, Bampis Christou and Dimosthenis Zattas conducted the orchestra".
The composer Loukianos Kavvadias also participates in the film as an actor portraying a music publisher (see here).
Argyris Tsiapos, in his book "Oi protes tainies tou ellinikou kinimatografou" (Serres, December, 2015), states the following about the film and its cast:
"In 1930, Hellenic Cinema Corporation had presented an edited version of 'Prometheus Bound' (from the filming of the Delphic Festivals) for the lecture needs of 'Miss Europe' Aliki Diplarakou during her tour in the USA. The company's offices were at the Chrysler building, in New York. Antonis Danas (or Anthony J Danas) was the president and funded, and Nikos Christodoulou was the creator of the 'Hellenic Cinema Corporation'. The ads in the expatriate press were talking about a nine-act film, lasting two and a half hours (but only 115 min according to the Motion Picture Herald catalogs), 12,000 feet (or 3,650 m) film reels and costing an estimated $ 6 million. It was directed by James Vincent. The screenplay was written by Orfeas Karavias (as in 'Grothia tou sakati' ['Fist of a Cripple']), and the music was scored by D. Zattas, a regular collaborator of Karavias in the musical-dramatic 'Ellinikon Theatron' troupe of the Greek community. These are the titles of three of the songs in the film: 'To tragoudi ton foititon', 'To tragoudi tis Giolantas' and 'To tragoudi tou Kampare'." (For more information see http://protestainies.blogspot.com/2016/02/such-is-life.html).