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Dear Mr. Johnson, we're sorry to inform you,
Your request for a second loan has been refused;
And the Board Of Directors out in the city,
Has instructed us to take the boat from you.
We understand your problem and wish that we could help you,
But the fact the fish are few's not our concern;
And the cost of operation may well be rising,
But the fact is that you lose more than you earn.
This Saturday morning there will be an auction,
Underneath the cold Atlantic sky;
And while the rest of the country is still sleeping,
They'll be bidding Newfoundland goodbye.
And so Mr. Johnson, let us say in conclusion,
That we know your family's worked the sea for years;
If we can be of some assistance during your transition,
Oh, please, don't hesitate to call us here.
This Saturday morning there will be an auction,
Underneath the cold Atlantic sky;
And while the rest of the country is still sleeping,
They'll be bidding Newfoundland goodbye,
They'll be bidding Newfoundland goodbye.
Goodbye.
