Peter soon concluded a bargain with the heirs for the glass-works. He retained the workmen whom he found there, and made glass by day and night. In the beginning he was much pleased with the business. He was accustomed to walk proudly about the works, with his hands in his pockets, looking into this and that, advising here and there, over which his workmen laughed not a little; but his great delight was to see the glass blown, and he often attempted this work himself, forming the most singular shapes out of the molten mass. But before long he tired of the business, and spent only an hour a day at the works; then only an hour in two days, and finally he went only once a week, so that his workmen did what they pleased.
All this resulted from his visits to the tavern. The Sunday after he had met the little man in the wood, he went to the tavern, and found the King of the Ball already leading the dance, while the Stout Ezekiel was sitting down to his glass and shaking dice for crown-thalers. Peter put his hand in his pocket to see if the Little Glass-Man had kept faith with him, and behold, his pockets were bulged out with silver and gold. His legs, too, began to twitch and move as though they were about to dance and leap; and when the first dance was over, he placed himself with his partner opposite, near the King of the Ball, and if this man sprang three feet high, Peter would fly up four, and if the other accomplished wonderfully intricate steps, Peter would throw out his legs in such a marvelous style that all present were beside themselves with delight and amazement. But as soon as it was known that Peter had bought a glass-factory, and as the dancers saw him tossing sixpences to the musicians every time he passed them in the dance, their astonishment knew no bounds. Some thought he must have found treasure in the forest; others, that he had inherited an estate; but all deferred to him and looked upon him as a great man, simply because he had money. On the same evening he lost twenty guldens at play; and still the coins chinked in his pocket as though there were still a hundred guldens there.
When Peter saw how important a person he had become, he could not contain himself for joy and pride He threw his money right and left, and divided it generously among the poor, remembering how sorely poverty pressed on him. The skill of the King of the Ball was brought to shame by the supernatural art of the new dancer, and Peter was dubbed Emperor of the Ball. The most adventurous gamblers of a Sunday did not risk as much as he; but neither did they lose as much. And yet the more he lost the more he won. This happened through the agency of the Little Glass-Man. He had wished always to have as much money in his pocket as the Stout Ezekiel had in his; and the latter was the very man to whom Peter lost his money. And when he lost twenty or thirty guldens at a throw, he had just as many more when Ezekiel pocketed them.
By degrees, however, he got deeper into gambling and drinking than the worst topers in the Black Forest, so that he was oftener called Gambler Pete than Emperor of the Ball, for he played now nearly every work-day as well. Hence it was that his business was soon ruined, and Peter's lack of understanding was to blame for it. He had as much glass made as the works could possibly produce; but he had not bought with the business the secret of how to dispose of the glass. He did not know what in the world to do with his stock, and finally sold it to peddlers at half the cost price, in order to pay the men's wages.
One evening he was returning home as usual from the tavern, and in spite of the wine he had drunk in order to make himself merry, he reflected with terror and anguish on the ruin of his glass-works business, when suddenly he felt conscious that some one was walking at his side. He turned around and, behold, it was the Little Glass-Man. At once Peter fell into a passion, and protested with high and boastful words that the little man was to blame for his misfortunes.
"What do I want now with a horse and wagon?" cried he. "Of what use is the glass-foundry and all my glass? Even when I was a poor charcoal burner, I was far happier, and had no cares. Now I do not know how soon the magistrate will come and seize my property for debt!"
"Indeed?" replied the Little Glass-Man, "indeed? I should bear the blame for your misfortunes? Is this your gratitude for what I have done for you? Who advised you to wish so foolishly? You were bound to be a glass-manufacturer, and yet did not know where to sell your wares. Didn't I caution you to wish wisely? Judgment, Peter, and wisdom, you were lacking in."
"What do you mean by judgment and wisdom?" demanded Peter. "I am as wise a man as any body. Little Glass-Man, and will prove it to you." With these words he seized the Little Glass-Man violently by the neck, shouting: "Now I have you, Schatzhauser im grünnen Tannenwald! and now I will make my third wish, which you must grant me. I want right here on the spot two hundred thousand thalers, and a house and----oh dear!" shrieked he, as he wrung his hands, for the Little Glass-Man had transformed himself into a glowing glass that burned his hand like flaming fire. And nothing more was to be seen of the little man.
For many days Peter's blistered hand reminded him of his folly and ingratitude; but when his hand healed his conscience became deadened, and he said: "Even if my glass-works and every thing I have should be sold, I still have the Stout Ezekiel to fall back on. As long as he has money of a Sunday I shall not want for it."
True, Peter! But if he should have none? And this very thing happened one day. For one Sunday Peter came down to the tavern, and the people stretched their necks out of the window, one saying, "There comes Gambler Pete!" and another, "Yes, the Emperor of the Ball, the rich glass-manufacturer!" while a third one shook his head, saying, "Every-where his debts are spoken of, and in the town it is said that the magistrate will not be put off much longer from seizing his glass-works." The rich Peter greeted the guests at the window politely as he stepped out of his wagon, and called out: "Good evening, landlord! has the Stout Ezekiel come yet?" And a deep voice replied: "Come right in, Peter. We have already set down to the cards, and have kept a place for you." So Peter entered the public room, put his hand into his pocket and found that the Stout Ezekiel must be pretty well provided with money, for his own pocket was crammed full.