• Richard C. West, ed.
• Art Editor: Ivor A. Rogers
• Associate Editors: Deborah Rogers, Perri West
• 1977

Front cover: "Mordor Where the Shadows Lie" -- S. Chavez

• "Introduction" (editorial) (p. 2)
• "The Loss of a Son" -- translated by Poul Anderson (pp. 3-4) [based on "Sonatorrek" by medieval Icelandic skald, Egill Skalla-Grimsson]
• "Beren and Tiniuviel" -- illustrated by Robin Wood (p. 4)
• " `Her Strong Enchantments Failing': A Study of Poul Anderson's `Queen of Air and Darkness' " -- Patrick L. McGuire (pp. 5-13)
• "For John Sommerfeldt" (poem) -- Deborah Rogers (p. 13)
• "Old Dragon to Young Hero" (poem) -- Anne Etkin (p. 13)
• Other, untitled verse by Mary Kay Bond (p. 25), Arthur Winfield Knight (p. 16), Glee Knight (p. 16), Deborah Rogers (p. 25)
• "Color Symbolism in The Lord of the Rings" -- Robert A. Bunda (pp. 14-16)
• "King Arthur in Alabama" -- review by Roger Schlobin of Sanders Anne Laubenthal, Excalibur (Ballantine, 1973, 1977) (p. 16)
• "The Conservatism of J. R. R. Tolkien" -- Michael J. Ehling (pp. 17-22)
• "Fanzine of Excellence, When Does It Come?" -- double dactyl by Anne Etkin (p. 22)
• "Moot Point" (pp. 22-25) [letters from James Allan (21 May 1972), Henry Noel (19 July 1972), Mary Kay Bond (3 August 1972), Lois Newman (21 August 1972), Maureen W. Mills (27 September 1972), Nan C. Scott (10 November 1972)
• "What Are Ents Made Of?" -- John Leland (p. 25)

Other, untitled illustrations by Jim Cawthorn (pp. 22, 25); John Chambers (p. 23); Michael Wm. Kaluta (p. 13)

Back cover: "Where Gollum Lives" illustrated by Carmal Palmer