http://en.wikipedia.org/wiki/Red_Sails_in_the_Sunset_%28song%29 indicates the song is from 1935

Ron Baxter may have had the Buck Ruxton parody in mind when he came up with his Fleetwood/Fishing version which goes -

"Red Stains on yer gansey
Red stains on yer knife;
We've been here a-guttin'
Since the clock's been round twice."

From the days when trawler-hands gutted the catch on the open decks. If a skipper found a good spot, trawling would continue as long as there were fish to be caught. The song goes on to describe an incident where the skipper apparently allowed the crew a watch (four hours) below. However, after only an hour he ordered the "sparks" (radio officer) to put all the clocks three hours forward and rouse the crew.

If I can find the rest of the words, I'll post them in the Fleetwood and Fishing Permathread.

Ross