Could be a rectangle with the letters MCPS inside.

Next step, is there anything on it which is likely to have a 3rd party copyright?

However, one would also have to ascertain whether royalties were paid directly to the copyright holders, which might happen (what do you think, though?)

According to the web, these are the tracks album with the composers:

Rubber Band ... Mike Waterson (2:55)
Scarecrow ... Lal Waterson (3:48)
Fine Horseman ... Lal Waterson (3:24)
Winifer Odd ... Lal Waterson (2:47)
Danny Rose ... Lal Waterson (2:40)
Child Among the Weeds ... Lal Waterson, Chris Collins (3:40)
Magical Man ... (none) (2:44)
Never the Same ... Lal Waterson (2:54)
To Make You Stay ... Lal Waterson (2:11)
Shady Lady ... Lal Waterson (3:17)
Red Wine and Promises ... Lal Waterson (3:02)
Bright Phoebus ... Mike Waterson

Even if the Watersons had signed their rights to the record label, I don't know if that would have included composers rights.
And what about Chris Collins?