Here are the lyrics as I heard them. I have a pdf of the tune which I can post if someone tells me how

PETER JONES
Helen Hartness Flanders Collection
Oliver Jenness York Village, Maine    1941
D13A Side B 3:54 /4:15

Peter Jones was a Schenectady boy and a lad both brave and bold
He shipped before the mast on the Erie canal to sail the waters cold

He didn't pay his dues too faithfully ? and upward he did crawl
To the cap'n and the mate of the schooner Polly Ann on the ragin' Erie Canal

There was old Bill Smith was a pirate ---- and a pirate too was he
He never was known to spend a cent or to treat the company

*He gambled --and -- too and he stood near seven foot tall
He---- all the whisky shops on the ragin' Erie Canal

*But he had a daughter ----Hil? she was just sixteen years old             as in Hillary?
She tumbled into love with Peter Jones that gallant sailor bold

*She quickly--- her father's--- and out of the stern did crawl
And sailed away with Peter Jones on the ragin' Erie Canal

*When Old Bill Smith found that Hil? was gone oh much enraged was he
He took a big drink of Schenectady rum and it went into his head

*He swore a big three story oath as he staggered down the street
Saying shiver my timbers and blast my eyes if I don't get square with Pete

Peter Jones was aboard at the stern of his craft and attending to his biz
Little did he think that old Bill Smith had got his dander riz

But he crept aboard so sneakily ------
And grabbed up the anchor in both of his hands and broke the young man's head

When old Bill Smith see what he had done he was very much surprised
He swore another oath and overboard he went

----- the Erie Canal That's all.