Here's a rough draft of the lyrics. Town names are uncertain. Allow rhymes with fallow. Verse 3 seems to be about a sport. What is it?

O now tonight, my comrades bright, come listen to my tale
of bygone days in memories haze of greenmounts (?) lovely days
oh the the friends so true that we once knew as to manhood we did grow
as we wandered free over hill and lea where the Allow waters flow.

2 at welship (?) cross we would pitch and toss till the twilight hours - ??
and with moonlight gleams over joyful streams we would homeward wind our way

as with colleens fair beyond compare a-wandering we would go
[words in Irish] where the Allow waters flow

3. from Terence Cross to Knockanglas we oft-times made our way
sweet Roscommon to Morton's Lawn, all eager for the fray
with skill and dash we would heave the ash as we struggled with each foe.
with might and grace for our native place where the Allow Waters flow.

4. [Verse is half Irish, half English. Didn't transcribe]

5.But now, asthore, we see no those golden days of of youth
and when, alas, my soul shall pass unto the land the truth
on the chapel hill just lay me still over freemounts (?) town below
so I can still can hear both loud and clear, those Allow waters flow.

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See Joe Offer's post of Nov 1, 2012 for a blue clicky to the recording I got these words from.