Historical Background

The Atlantic hit rocks and sank off the coast of Nova Scotia on 1st April 1873 [i]
The news of her loss appeared in British Newspapers the following day and was widely reported. The telegram from the Captain quoted in bar 650~Copy of the Verses on the Wreck of the Atlantic appeared in the press on 3rd April [ii] This engraving appeared in the Penny Illustrated Paper of Saturday 12 April 1873 [iii] and in other press reports.

After leaving Liverpool, she picked up passengers at Queenstown¹, Ireland

The Songs

Both of the songs on this website emphasise the presence of emigrants on board. This is typical of shipwreck ballads of this period. In addition, both show a strong Irish influence. This is no doubt primarily due to the number of Irish among the victims and the large Irish population in the Atlantic's port of departure (Liverpool).

References:
[i] https://en.wikipedia.org/wiki/RMS_Atlantic [accessed 25Jun2019]
[ii] For example the Shields Daily Gazette and Bolton Evening News both of 3rd April 1873. Source The British Newspaper Archive [accessed 25Jun2019]
[iii] The British Newspaper Archive [accessed 24Jun2019]