A Northumbrian waltz composed by Archie Dagg (1899 -1991), a shepherd and fiddler who took to making smallpipes and reeds late in life; he composed a number of tunes, which have been collected ("A Coquetdale Garland").
There’s a 1979 recording of Elsey’s by Jo Hutton and Will Atkinson on Radio Farne at http://www.asaplive.com/archive/detail.asp?id=P0019011. They follow it with the Orkney march "Gairsay".
A Guitar version:
This tune was one of the "hits" at a North Eastern fishing/seaside town festival which I visited last week.
It seemed to get played in every session.
Although I was quite familiar with the tune, I only realised that it was this one after visiting the festival. I’ve obviously played it at Newcastleton and the like over the years too.