Steve,
I've never heard the song, but I remember eading about the man in Lomax's book "The Land Where The Blues Began", ISBN: 0-385-31285-7. Alan Lomax recorded Forest City Joe Pugh in Hughes, Arkansas in 1959.

She used to be beautiful, but she lived her life too fast
Now she runnin' round
Tryin to drink out of everybody's whiskey glass

I had a good racket of sellin whiskey
I told my baby so
She wasn't satisfied till she went to town
And let the chief of police know

She used to be beautiful byt she lived her life too fast

One thing, one thing old buddy
Forrest City Joe can't understand
She cooked cornbread for me
She cooked biscuits for her man

She used to be beautiful, but she lived her life too fast
Now she runnin' round town
Tryin to drink out of everybody's whiskey glass

That's all I have so far. I'll check through some other material though. By the way, if you haven't read the book and you're interested in stories of some of the early blues artists, Lomax's book is a must read.

Dave T