Martin and I have discussed this and we think it is about the fast schooner type boats that collected fish from the fishing boats on the banks and raced back to land the catch first to get the best prices, Barry Finn chipped in with his thoughts on the "running wing to wing" lyric was the sails set to run before the wind as it would be in an east nor'easter from the dogger to grimsby, to "Twig" is slang to look carefully, basically they are boasting about their boat and crew "Watch her, Twig her she's the proper Jooby joo". There is a tube clip of me singing a version at the Mudcat blue plate special launch at Herga, highly poignant for me cos I got into singing the song through the singing of Johnny Collins. I also think the person that wrote the broad sheet was transcribing it from something they had heard " Pell Mell" is the phonetic spelling of the music hall posh talk for Pall Mall