"Walking boss (x2), I don't belong to you. I belong (x2) to that steel driving crew." "Work one day, just one day, just one day, Then go lay in the shanty two." Etc. Verses loosely descriptive of life on a railroad crew.
A "walking boss" was a foreman who gave orders to workers' immediate supervisors, rather than to the workers themselves.
Source: Clarence "Tom" Ashley recalled this song being sung by railroad workers, probably in the 1920s. - PJS