I am looking for an old recording of a story about a pirate-dog with a
peg-leg who forces some other dogs to dig for buried treasure.  We had
this record (a 78rpm disc) when I was a kid which is to say around
1950.

jrobmckain, I can't find the recording, but you might try to contact these people:
http://www.kiddierekordking.com/

http://www.worldofgramophones.com/kiddieking.html

One of these sites may be able to help you locate your recording. Best of luck.