E. Cobham Brewer 18101897. Dictionary of Phrase and Fable. 1898.
To be in Hobs pound is to be under difficulties, in great embarrassment. Hob is a clownish rustic, and hoberd is a fool or neer-do-well. To be in Hobs pound is to be in the pound of a hob or hoberdi.e. paying for ones folly.