Am sure it was well before 1961 too. It was written in recognition of the club's nickname at the time and their predilection for alarming mid-season form slumps. Can't remember the words, but is was called 'Brewers Droop'.
The words are: "Up, up you Hornets, up and do your best. Cos when you do your best, you're much better than the rest. We'll cheer you on, right through thick and thin. Cos we're the ones from Watford and we don't give in. Oh, up, up etc.......". I also remember the tune! I would record it and attach it if I dared!.... It was played before each game in the 1961-62 season, I believe. Around that time Vic-Rijrode appeared as a cartoon character in the programme (long before Terry Challis' famed strips in the Wobby). Not sure either song or cartoon lasted very long. Z-cars as a 'running out' tune was picked by Bill McGarry (manager 1963-64) as he liked the BBC program - it was never the 'club song'. Anyone remember?