Another text which clears up the first verse:

MEETING IN THE AIR

          You have heard of little Moses in the bulrush
          You have heard of fearless David and his sling
          You have heard the story told of dreaming Joseph
          And of Jonah and the whale you often sing
          There are many, many others through the Bible
          I should like to meet them all, I do declare
          By and by the Lord will surely let us meet them
          At that meeting in the air

               There is going to be a meeting in the air
               In the sweet, sweet by and by
               I am going to meet you, meet you over there
               In that home beyond the sky
               Such singing you will hear never heard by mortal ear
               'Twill be glorious, I do declare
               And God's own son will be the leading one
               At the meeting in the air
                [INSTRUMENTAL BREAK]

          Many things will there be missing in that meeting
          For the mourner's bench will have no place at all
          There will never be a sermon preached to sinners
          For the sinners had refused to heed the call
          There will be no mourning over wayward loved ones
          There will be no lonely nights of pleading prayer
          All our burdens and our anguish will be lifted
          At that meeting in the air

               There is going to be a meeting in the air
               In the sweet, sweet by and by
               I am going to meet you, meet you over there
               In that home beyond the sky
               Such singing you will hear never heard by mortal ear
               'Twill be glorious, I do declare
               And God's own son will be the leading one
               At the meeting in the air

http://www.bluegrasswest.com/ideas/carter4.htm#mees

(Peter Feldmann's "Songs of the Carter Family" site, which has generally the best transcriptions of the CF lyrics.)