"I know of it," said Loki sharply, "and I know where it is hidden. Wilt thou, Odin, win leave for me to fetch Andvari's hoard?"
Odin spoke to Hreidmar. "I will stay with thee as a hostage," he said, "if thou wilt let this one go to fetch a treasure that will cover the otter's skin hair by hair."
"I will let this be done," said old Hreidmar with the sharp and cunning eyes. "Go now," said he to Loki. Then Loki went from the house.
Andvari was a Dwarf who, in the early days, had gained for himself the greatest treasure in the nine worlds. So that he might guard this treasure unceasingly he changed himself into a fish—into a pike—and he swam in the water before the cave where the hoard was hidden.
All in Asgard knew of the Dwarf and of the hoard he guarded. And there was a thought amongst all that this hoard was not to be meddled with and that some evil was joined to it. But now Odin had given the word that it was to be taken from the Dwarf. Loki set out for Andvari's cave rejoicingly. He came to the pool before the cave and he watched for a sight of Andvari. Soon he saw the pike swimming cautiously before the cave.
He would have to catch the pike and hold him till the treasure was given for ransom. As he watched the pike became aware of him. Suddenly he flung himself forward in the water and went with speed down the stream.
Not with his hands and not with any hook and line could Loki catch that pike. How, then, could he take him? Only with a net that was woven by magic. Then Loki thought of where he might get such a net.
Ran, the wife of old Ægir, the Giant King of the Sea, had a net that was woven by magic. In it she took all that was wrecked on the sea. Loki thought of Ran's net and he turned and went back to Ægir's hall to ask for the Queen. But Ran was seldom in her husband's dwelling. She was now down by the rocks of the sea.
He found Ran, the cold Queen, standing in the flow of the sea, drawing out of the depths with the net that she held in her hands every piece of treasure that was washed that way. She had made a heap of the things she had drawn out of the sea, corals and amber, and bits of gold and silver, but still she was plying her net greedily.
"Thou knowst me, Ægir's wife," said Loki to her.