The Morse code (cw) signal in between the "warbles" spells out "NMC".
Probably the callsign of a Coast Guard Station, or something like that.
The warbles are a digital signal of some sort...TOR, PACTOR or
something...I haven't really messed with that sort of thing in a while.
With the appropriate software, you can feed that into the sound card of
your computer and characters will display on your monitor. It will
probably say something that translates into standing by for traffic. - -
Just a guess on my part.

/Carl/W5SU
Dallas TX

Jim Shaffer, Jr. wrote:

(Sorry about the new thread, I deleted the old one from my newsreader already
because I wasn't hearing anything.)

I'm currently hearing, just barely, a series of warbling tones of about the same
length, with what sounds like Morse code in between each series. If someone can
copy the code, it might give us a clue where this signal is coming from.