Cobden also played county cricket for Herefordshire, Radnorshire, and, between 1868 and 1890, for Shropshire.
Cambridge slumped to 40/5 in their second innings, only 12 runs ahead, with Charles Francis doing most of the damage.
William Yardley then came in to join John Dale, and they added 116 for the sixth wicket.
However they recovered and reached 153/3 at one point, needing only another 26, thanks to 69 from Cuthbert Ottaway and 44 from Arthur Fortescue.
When Cobden began what proved to be the final over, the score was still 175/7, with four runs needed to win.
From the first ball, Frederick Hill played a shot which seemed sure to reach the boundary and thus to win the match.
Samuel Butler was caught off the second ball of the over and William Stewart was bowled by the third.
If the batsman, Thomas Belcher, could survive it, then Hill would face the next over and would probably see Oxford home.