Welcome and congratulations, the Old Town canoe with serial number 42627 is 16 feet long so that isn't a good match. My guess is that you may have the one with serial number 142627. This is a 17 foot long, AA (or top) grade, Otca model with red western cedar planking, open ash gunwales, number eight canvas, ash decks, ash thwarts, ash seats, half ribs, a keel, and outside stems. It was built between August and October, 1945. The original exterior paint color was light Yale blue. It shipped on November 1st, 1945 to Worcester, Massachusetts. A scan of this build record can be found below.
This scan and several hundred thousand others were created with substantial grants from the Wooden Canoe Heritage Association (WCHA) and others. A description of the project to preserve these records is available at
http://www.wcha.org/catalogs/old-town/records/ if you want more details. I hope that you will donate, join or renew your membership to the WCHA so that services like this can continue. See
https://www.woodencanoe.org/about to learn more about the WCHA and
https://www.woodencanoe.org/shop to donate or join.
It is also possible that you could have another number or manufacturer if this description doesn't match the canoe. Feel free to reply here if you have any other questions.
Benson