Green’s Dictionary of Slang

(Aus.) an unlikely story, esp. a hard-luck story aimed to obtain money.

1902		Bulletin (Sydney) 29 Nov. 31/1: ‘A nice put-up job.’ / ‘’Struth, no! Didn’t you see Mick the Mule?’ / ‘Dicken!’ / ‘Straight wire! He’s just out of quod, and he tried a Joe Rail on me for some beans.’.
1904		Sun. Times (Perth) 4 Sept. 4/7: So I tell the old Joe Rail / [...] / And I bluff ’em off and scale.
1923		Smith’s Wkly (Sydney) 11 Aug. 15/3: There are more fences in Sydney than stone walls in Ireland — and that’s no Joe rail.