Despite all the different versions discussed in this thread, the villain being named Willie has been mentioned six times.

Somewhere on the Mudcat there's a thread about the shameful prejudice against Willies in folklore. Johnnies may be lovable or handsomely rakish, but Willies are usually bad. Too bad I can't find the thread.

I think the reason this song lives on is the five-beat notes in a 4/4 song. Such as:


down be -si - 2- 3- 4- 5 where the wa-ters flo -2- 3- 4- 5

etc