I know The Dillards did a version of this song. It's on their There Is A Time album. Here's the words as best as I can understand them (I'm not too sure about the "raven" verse)!

OLD MAN LIVIN' AT THE MILL (from Dillards)

^^ CHORUS: Same old man livin' at the mill
The mill turns around of its own free will
Hand in the hopper and the other in the sack
Ladies step forward and the gents fall back

Down sat an owl with his head all white
Lonesome day and a lonesome night
Thought I heard a purty girl say
Court all night and you sleep next day. CHO.

Well then said the raven as she flew
If I was a young one I'd get two
One for to get and the other to sew
I'd have a string for my bow bow bow. CHO.

Well my old man's in Kalamazoo
He don't wear no yes I do
First to the left and then to the right
This old mill grinds day and night. CHO. TWICE.