The purpose of this paper is to provide additional evidence to support our view that the modules of generalized fractions introduced in [8] are worth further investigation: we show that, for a module M over a (commutative, Noetherian) local ring A (with identity) having maximal ideal m and dimension n, the n-th local cohomology module
may be viewed as a module of generalized fractions of M with respect to a certain triangular subset of An + 1, and we use this work to formulate Hochster's ‘Monomial Conjecture’ [2, Conjecture 1]; in terms of modules of generalized fractions and to make a quick deduction of one of Hochster's results which supports that conjecture.