Minor quibble(?) or note on ethnology: In the version that I heard back in the '50s the main line was:

If Texas SAW what Arkan - Saw then what did Tenne - see.

I'd think it makes more sense, and scans better, with "saw" up front; but I doubt that it makes much difference, unless someone wants to research sources and evolved versions.

Sorry, but I can't tell you who played/sang it on the old 78s.

John