This is a 6.5" recording acetate of the Wilcox-gay Recordio brand. Phonozoic calls this a Wilcox-Gay Recordio Type 4B. His 1947 and 1948 dates seem correlative. This disc is labeled clearly in pencil, in big block letters "NORM" on one side and "JIM" on the other. I assume Norm and Jim are the singers here, but the song titles is not listed. Norm has quite a clear recording, though the piano accompaniment is very soft in the mix.
His style is very dated but that's non-specific.The song is quote old, "Waves of the Danube" was first published in 1880. This version is a take off of the version that Al Jolson and Saul Chaplin published in 1946 under the name of "The Anniversary Song" with their own lyrics. That date corresponds to the known 4B time frame so that stands to reason. I'd prefer that the singer be Norm Peterson but the surname is unknown.