“And the three were the heart-wise Odin, the Father of the Slain,
And Loki, the World’s Begrudger, who maketh all labour vain,
And Hænir, the Utter-Blameless, who wrought the hope of man,
And his heart and inmost yearnings, when first the work began;—
The God that was aforetime, and hereafter yet shall be
When the new light yet undreamed of shall shine o’er earth and sea.”
As the gods came near to Hreidmar’s dwelling, Loki perceived an otter basking in the sun. This was none other than the dwarf king’s second son, Otter, who now succumbed to Loki’s usual love of destruction. Killing the unfortunate creature he flung its lifeless body over his shoulders, thinking it would furnish a good dish when meal time came.
Loki then hastened after his companions, and entering Hreidmar’s house with them, he flung his burden down upon the floor. The moment the dwarf king’s glance fell upon the seeming otter, he flew into a towering rage, and ere they could offer effective resistance the gods found themselves lying bound, and they heard Hreidmar declare that never should they recover their liberty until they could satisfy his thirst for gold by giving him of that precious substance enough to cover the skin of the otter inside and out.
“‘Now hearken the doom I shall speak! Ye stranger-folk shall be free
When ye give me the Flame of the Waters, the gathered Gold of the Sea,