'Paige' could be Satchel Paige; his most-used major-league number was 29.
the 'dropped axe' could refer to Eric Clapton, on stage with The Band when they recorded The Last Waltz; he dropped his guitar (the strap slipped) during his opening guitar solo of 'Further Up The Road'; Robbie Robertson had to step in on the spur of the moment. Recorded Thanksgiving, 1976, at San Francisco's Winterland Ballroom, and released April 26, 1978.
Both of these are, I'll be first to admit, definitely shots in the dark. But they fit, especially Satchel Paige.
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