According to Peter Bogdanovich, the shorter version is in fact the Director's Cut. Howard Hawks was unhappy with the pacing of the longer, 133 minute cut.
An alternate version, usually shown on television, substitutes spoken narration (by Walter Brennan) to the shots of the pages of a diary and is eight minutes shorter than the original.
The director's cut restores 8 minutes of footage normally cut from the tv version of the film (back to the original 133 minutes).