There isn't a king.  The line is generally "The tane (i.e. the one) was killed" or "There ane was killed", "The first was killed" or something similar.  Now that the Search facility is up and running again, I can refer you to this thread from last year:  Help! Old Blind Dogs lyrics: Bennachie.  Murray of Saltspring states there that "Lowrin or Lowren Fair... is "Lawrence Fair", the name of two fairs, one held in Rayne, Aberdeenshire ... and the other at Laurencekirk, Kincardineshire, in mid-August."  There are (Saint) Lawrence Fairs, usually on August 6th, in quite a lot of other places, too, not all in Scotland; including Kirkandrews (in Kirkcudbrightshire, where there is also a Lowran and a river Dee, as it happens), but the Aberdeenshire location does seem most likely in the circumstances.

Malcolm