Eliot's note to line 46 refers to Frazer's Hanged God. In The Golden Bough there are a number of hanged gods. Because Frazer notes that Odin was called the God of the Hanged and because Eliot a few lines later (line 52) mentions a one-eyed merchant, one can suppose that Eliot is alluding to Odin (who exchanged an eye for wisdom.)
This site has a small except of The Hanged God section of The Golden Bough.
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