Crossword Genius

Song of a once penniless lady (3)

Ross

I believe the answer is:

lay

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'song' is the definition.
(poetic term for a song)

I don't understand the rest of the clue.

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(Other definitions for lay that I've seen before include "Put down an old song" , "Set (table)" , "Put down (eg, card)" , "located" , "gamble" .)

I've seen this clue in the Evening Standard.
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