First, Loki offered to Odin the spear Gungner which was so wonderfully made that it never failed to hit the thing at which it was thrown, and it always sped back to the hand which had thrown it.  Later, when Odin carried this spear in battle, if he shook it over his enemies they became so frightened that they all wanted to run away, but if he shook it over his friends they were so filled with courage that they could not be conquered.  Then Thor received the hair, and when it was placed upon Sib’s head it grew to her like living tresses, curling and waving in the wind.  To Frey the ship was given, and though it was so small that it could be folded and carried in his pocket, when it was placed upon the waves it would grow large enough to hold an army of warriors with all their war gear; besides, as soon as the sails were hoisted, the wind would blow it whithersoever it was desired that the ship should go.

Brok then made his offerings, and to Odin he gave the ring Drapnir which had been made with such magic skill that every ninth night eight other rings dropped off it, though no one could see how they came; this the greatest of the gods ever wore upon his arm, until the death of his beautiful son Baldur, when, as token of his great love he placed it upon the dead youth’s breast as he lay on his funeral pyre.  To Frey was given the golden boar, which would run faster than any horse, over the sea or through the air, and wherever it went, there it would be light, because the bristles shone so brightly.  To Thor Brok gave the dull-looking hammer, saying, that whatever he struck with it would be destroyed; that no blow could be hard enough to hurt it; that if he threw it, it would return to him so that he could never lose it; and that as he wished so would its size be—­yet there was one fault about it, and that was that the handle was an inch too short.

It was with great joy that Thor took this treasure, knowing that in it he had something to help him in fighting the evil Rime-giants who were always trying to get the whole world for themselves until driven back by him.

Then the gods decided that of all the gifts the hammer was the best, and that, therefore, Loki had lost his wager and must lose his head.  Loki offered to give all sorts of things to save himself, but the dwarf would not listen to any of them.  “Catch me, then!” cried the mischievous one; but when Brok stretched his hand upon him Loki had gone, for he wore shoes which would carry him over the sea or through the air.

“Catch him!” cried the ugly little dwarf piteously to Thor, and in an instant Loki stood before them, trembling in Thor’s strong grasp.  Then the clever one argued that it was his head only which had been wagered, and that not one little tiny bit of his neck might be taken, or the dwarf would have more than his bargain.  At this Brok cried impatiently that the head of a wicked person was of no use to him, all that he wanted was to stop Loki’s tongue so that he could work less evil, and he took a knife and thread and tried to pierce holes in Loki’s lips, but Loki bewitched the knife so that it would not cut.