Sentence:  A man who never misused his time here; a Fellow of his Colleges, M.A., Lecturer, Don; ... my name, alas is not upon the board—my poverty, indeed, not will, prevented it, and so beneath his wing I dine at the "high table" with the reverend deans, and <WSD>hobnob</WSD> with professors. 
Meaning of the word marked with <WSD> tags:  To associate with in a friendly manner, often with those of a higher class or status.