Generally we Pyrates try to keep songs to 5 to7 verses. This cuts down on the eye-glazing factor. I frequently cut verses if they don't move the story along.
On the other hand, I added a verse to Lord Franklin, cobbled from 2 half verses of early versions.
If you are a scholar, copy it exactly. If you are a performer, you have as much right to change stuff around as your performer forebears
did in bygone eras. This is how new versions of songs appeared.
The trick is to do it with respect for the original material.