At daybreak the next morning, Thor and his companions rose, dressed themselves, and prepared to leave at once.  Then Utgard-Loki came to them and ordered a table to be set for them having on it plenty of meat and drink.  Afterwards he led them out of the city, and on parting asked Thor how he thought his journey had prospered, and whether he had met with any stronger than himself.  Thor said he must own he had been much shamed.

“And,” said he, “I know you will call me a man of little might, and I can badly bear that.”

“Shall I tell you the truth?” said Utgard-Loki.  “We are now out of the city, and while I live and have my own way, you will never again enter it.  By my word you had never come in had I known before you had been so strong and would bring us so near to great misfortune.  I have deluded thee with vain shows; first in the forest, where I met you, and where you were unable to untie the wallet because I had bound it with iron-thread so that you could not discover where the knot could be loosened.  After that you gave me three blows with your hammer.  The first blow, though the lightest, would have killed me had it fallen on me, but I put a rock in my place which you did not see.  In that rocky mountain you will find three dales, one of which is very deep, those are the dints made by your hammer.  In the other games, I have deceived you with illusions.  The first one was the match with Loki.  He was hungry and eat fast, but Logi was Flame, and he consumed not only the flesh but the trough with it.  When Thjalfi contended with Hugi in running, Hugi was my thought, and it was not possible for Thjalfi to excel that in swiftness.  When you drank of the horn and the liquor seemed to get lower so slowly, you did, indeed, so well that had I not seen it, I should never have believed it.  You did not see that one end of the horn was in the sea, but when you come to the shore you will see how much the sea has shrunk in consequence of your draughts, which have caused what is called the ebb.  Nor did you do a less wondrous thing when you lifted up the cat, and I can assure you all were afraid when you raised one of its paws off the ground.  The cat was the great Midgard serpent which lies stretched round the whole earth, and when you raised it so high then did its length barely suffice to enclose the earth between its head and tail.  Your wrestling match with Elli was, too, a great feat, for no one has there been yet, and no one shall there be whom old age does not come and trip up, if he but await her coming.  Now we must part, and let me say that it will be better for both of us if you never more come to seek me, for I shall always defend my city with tricks, so that you will never overcome me.”

When Thor heard that he grasped his mace in a rage, and raised it to hurl it at Utgard-Loki, but he had disappeared.  Then Thor wanted to return to the city, but he could see nothing but a wide fair plain.  So he turned, and went on his way till he came to Thrudvang, resolving if he had an opportunity to attack the Midgard serpent.