Billy Hays' Orchestra was made up of well-known studio musicians (e.g. Mike Mosiello, Andy Sanella). Some sources take the band's name as a pseudonym for Sam Lanin, while others consider it to be one of dozens of Harry Reser's nicks. The band's original photo, however, prove Billy Hays was a real person and his band was a real band. This shot, made in 1929 at the first session of Billy Hays' Orchestra for Victor Records, was presented to Glen Richards (the administrator of Hot Dance & Vintage Jazz Pages) by Samuel M. Zehel, whose grandfather, Joe B. Smith, was the lead alto player in the band. On the photo he is pictured fifth from left, next to the banjo player. Hays is second from left. This record was made the same year. Vocal by Andrew T. Stanton.
An interesting webpage about the orchestra is http://www.dvrbs.com/swing/OldShowbiz-BillyHays.htm