Earl, Check out the book "Songs the Whalemen Sang" by Gale Huntington. There is a very early version from England that dates back to 1784 and names the ship as "The Lion". I doubt very much if it is based on any one incident but it could be a broadside or a variant of one based on several topical songs of the day. Who knows?? Could be the last gasp story of the dying captain or it could come from the fertile mind of some ballad monger. Hope this helps. The above mentioned book is excellent. Also check out the book "Songs of the Sailor and Lumberman" by William Doerflinger. Dan