Thank for the discussion
When I translated this line I made wild guesses.  First "Ther" = "There".  Second "say't" = "sayst".  "Sayst" is another form of "Sayest" that is an archaic form of the second person singular of say.  I have to assume that "you" was omitted and that Sayst is the past tense. In addition I need to assume that "'" can replace consonant.   So I was well aware of all of the problems.  In my mind 'you' refers the reader--Hudson's death and his deed were well known around campus so I assumed some readers of this poem might have the same thought as the speaker of the poem.   
But after I read your comments I did a further research.  This time I did find an entry that used 'there be that say".  I put the screenshot below.
I think what I found supports your suggestion.  Put in the context it seems to say "there is a saying  .., "或 “有這麽個說法”。    I have made corresponding  change.
Thank again for the discussion.  


