Fossil,"Canadee-i-o" is a traditional folk song. On his CD, Dylan does not claim "Words and Music." It says that the song is traditional with an arrangement by Bob Dylan.
I just looked on his website. It also claims an arrangement, not the writing of the song.
Copyrighting an arrangement of traditional material for recording purposes was standard procdedure long before either Dylan or Jones came along. Not doing so, just increases the profits of the record companies.
Mike Regenstreif