their catch. But when Hreidmarr saw the otter, straight way he called to him his sons, Fáfnir and Reginn, and told them that the otter their brother was slain, and who had done that deed.
"Now father and sons went up to the Æsir, seized them, bound them, and told them about the otter, how he was Hreidmarr's son. The Æsir offered a ransom for their lives, as much wealth as Hreidmarr himself desired to appoint; and a covenant was made between them on those terms, and confirmed with oaths. Then the otter was flayed, and Hreidmarr, taking the otter-skin, bade them fill the skin with red gold and also cover it altogether; and that should be the condition of the covenant between them. Thereupon Odin sent Loki into the Land of the Black Elves, and he came to the dwarf who is called Andvari, who was as a fish in the water. Loki caught him in his hands and required of him in ransom of his life all the gold that he had in his rock; and when they came within the rock, the dwarf brought forth all the gold he had, and it was very much wealth. Then the dwarf quickly swept under his hand one little gold ring, but Loki saw it and commanded him to give over the ring. The dwarf prayed him not to take the ring from him, saying that from this ring he could multiply wealth for himself if he might keep it. Loki answered that be should not have one penny left, and took the ring from him and went out; but the dwarf declared that that ring should be the ruin of every one who should come into possession of it. Loki replied that this seemed well enough to him, and that this condition should hold good provided that he himself brought it to the ears of them that should receive the ring and the curse. He went his way and came to Hreidmarr's dwelling, and showed the
