Disillusionment of Ten O'Clock
The speaker describes houses that are haunted by boring, white nightgowns. He or she then goes on to list a number of more interesting options for nightgowns (we have just one question: where's the taffeta?).
Finally, the speaker concludes that the people who wear the boring nightgowns will have boring dreams, but the drunk, old sailors are going to have crazy dreams, perhaps because they're sleeping in their boots.