I got a wife and five little children,
I'm gonna take a trip on the big McMillan.
1
Ain't nothing to do but to set down and sing and rock about my Sarah Jane.
The boiler busted and the whistler squalled,
The captain gone through the hole in the wall.
Oh, Sarah Jane, Sarah Jane,
Ain't nothing to do but to set down and sing and rock about my Sarah Jane.
The engine gave a crack and the whistle gave a squall.
The engineer gone through the hole in the wall.
Sarah Jane, Sarah Jane,
Ain't nothing to do but to set down and sing and rock about my Sarah Jane.
The Yankee built boats to shoot them rebels,
My gun's steady, gonna hold it level.
Sarah Jane, Sarah Jane,
Ain't nothing to do but to set down and sing and rock about my Sarah Jane.
I got a wife and five little children,
I'm gonna take a trip on the big McMillan.
Sarah Jane, Sarah Jane,
Ain't nothing to do but to set down and sing and rock about my Sarah Jane.
1
According to alternative lyrics sources, this line ends with "on the big McMillan", which I leave as is only because I have no idea what else it could be. But I have a nagging doubt that this interpretation of the lyrics is correct. First of all, I have no idea what "the big McMillan" refers to and, secondly, it does not sound to me like Dylan even says "McMillan" (and the first verse is repeated for the final verse of the song, so there are two chances to hear the line sung).
2
Throughout this song Dylan often pronounces "Sarah" as though it ends with an "o" ("Saro Jane" is how other lyrics sources make it out).