Donald Wandrei and H.P. Lovecraft were close friends and corresponded for many years. Wandrei even visited the "Old Gentleman" twice. Most famously, he and August Derleth co-founded Arkham House in 1939.
This story, hallucinatory and, at times, psychedelic, was most definitely written under the spell of Lovecraft. It was published in the December 1933 issue of WEIRD TALES.