Presently, on a rock in the middle of the river, they saw an otter come. The otter went into the water and came back to the rock with a catch of salmon. He devoured it there. Then Odin saw Loki do a senseless and an evil thing. Taking up a great stone he flung it at the otter. The stone struck the beast on the skull and knocked him over dead.
"Loki, Loki, why hast thou done a thing so senseless and so evil?" Odin said. Loki only laughed. He swam across the water and came back with the creature of the river. "Why didst thou take the life of the beast?" Odin said.
"The mischief in me made me do it," said Loki. He drew out his knife and ripping the otter up he began to flay him. When the skin was off the beast he folded it up and stuck it in his belt. Then Odin and he left that place by the river.
They came to a house with two smithies beside it, and from the smithies came the sound of iron beating upon iron. They went within the house and they asked that they might eat there and rest themselves.
An old man who was cooking fish over a fire pointed out a bench to them. "Rest there," said he, "and when the fish is cooked I will give you something good to eat. My son is a fine fisher and he brings me salmon of the best."
Odin and Loki sat on the bench and the old man went on with his cooking. "My name is Hreidmar," he said, "and I have two sons who work in the smithies without. I have a third son also. It is he who does the fishing for us. And who may ye be, O wayfaring men?"
Loki and Odin gave names to Hreidmar that were not the names by which they were known in Asgard or on Midgard. Hreidmar served fish to them and they ate. "And what adventures have ye met upon your travels?" Hreidmar asked. "Few folk come this way to tell me of happenings."
"I killed an otter with a cast of a stone," Loki said with a laugh.
"You killed an otter!" Hreidmar cried. "Where did you kill one?"
"Where I killed him is of no import to you, old man," said Loki. "His skin is a good one, however. I have it at my belt."