Soon he appeared as a Dwarf. "Andvari, you are caught; it is one of the Æsir who has taken you," he heard his captor say.
"Loki," he gasped.
"Thou art caught and thou shalt be held," Loki said to him. "It is the will of the Æsir that thou give up thy hoard to me."
"My hoard, my hoard!" the Dwarf shouted. "Never will I give up my hoard."
"I hold thee till thou givest it to me," said Loki.
"Unjust, unjust," shouted Andvari. "It is only thou, Loki, who art unjust. I will go to the throne of Odin and I will have Odin punish thee for striving to rob me of my treasure."
"Odin has sent me to fetch thy hoard to him," said Loki.
"Can it be that all the Æsir are unjust? Ah, yes. In the beginning of things they cheated the Giant who built the wall round their City. The Æsir are unjust."
Loki had Andvari in his power. And after the Dwarf had raged against him and defied him, he tormented him; at last, trembling with rage and with his face covered with tears, Andvari took Loki into his cavern, and, turning a rock aside, showed him the mass of gold and gems that was his hoard.
At once Loki began to gather into the Magic Net lumps and ingots and circlets of gold with gems that were rubies and sapphires and emeralds. He saw Andvari snatch at something on the heap, but he made no sign of marking it. At last all was gathered into the net, and Loki stood there ready to bear the Dwarf's hoard away.