This traditional Tyrolean folktale, which was retold by Newbery Medal-winner Sawyer in 1941, is being rereleased with new pictures by award-winning artist Cooney (Hattie and the Wild Waves, 1990, etc.). The resulting book, however, is a big disappointment considering the renown of its author- illustrator team. The story of goblin King Laurin who appears at the poor cobbler's hut and shares his wealth with the cobbler's little sons would be more appealing if King Laurin wasn't as abusive as he is generous. Why must he torment the boys, berating them and kicking them, before he hands over the loot? The language is also above the heads of three- to eight-year-olds who won't be impressed by the "comfits" that the goblin causes to tumble from the sons' pockets. Cooney's vanilla illustrations add little to the tale. Unremarkable. (Folklore/Picture book. 3-8)