I sang this song in grade school in the mid '70s. I don't recall any more verses, although it would lend itself to that. The initial "sh" scored with the x-note was indeed spoken--like shushing someone in a library, only shorter, quarter-note duration. I recall from our music book that it was a song sung by Irish workers in America. I have used it as a lullaby to all three of my daughters, who love it.