Douglas A. Anderson has posted on his "Tolkien and Fanstasy" blog additional information he has found on "Hobyahs" - an early folk-tale that came to Tolkien's attention in 1938 (Carpenter's Letter #25 (J.R.R. Tolkien to Editor of the Observer, 20 February 1938*)). Some fantastic research here!

http://tolkienandfantasy.blogspot.com ... yahs-reconsideration.html