I have been singing this song for over 35 years. I learned it from Doc Watson, Roy Bookbinder, David Bromberg and probably Mose Scarlett and some other people. I think I've probably taken a bit from each. Here's how I recall it:

TRAVELING MAN

Folks, I want to tell you 'bout a man named Joe
He come from down in Tennesee
And made his living stealing chickens
And anything he could see
One day the sheriff got behind that boy
And made him take to the road
There's never been a freight train that run so fast
Old Joe couldn't get on board.

   He was a travelling man
   Certainly was a travelling man
   A travelling, rambling man
   He was the fastest in the land
   Travelling, gambling Joe
   They knowed him in every town
   And he never got caught and he never got whupped
   And I bet he never settled down.

Well they sent old Joe to the spring one day
For to fetch a pail of water
The distance this rascal had to traverse
Was thirteen mile and a quarter
Now he got the bucket of water all right
But he stumbled and he fell down
He ran to the house and he grabbed another bucket
Caught the water 'fore it hit the ground

   He was a travelling man...

Well the police shot him with a rifle
And the bullet went through his head
The folks was comin' from miles around
Just to see if that fool was dead
They sent down south where his mama lived
She was all upset with tears
But when she opened up that coffin lid
That fool had disappeared

   He was a travelling man...

Joe hoboed the great Titanic
Thought he'd try out the ocean blue
When he saw that old iceberg a-coming
Right over the side he flew
The rest of the passengers hollered and laughed
Cried, "Look what a great big fool."
But while that old ship was a-sinking
Joe was in Newfoundland shooting pool.

   He was a travelling man...

Now the police caught Old Joe
They had him up to hang one day
The judge leaned over, said 'My good man
Do you have any last words to say?'
Joe looked at the judge and jury
Said, "Bow down your heads in prayer,"
Then he kicked up his heels and he winked one eye
And went sailing off through the air

   He was a travelling man...