When Loki was driven out by the mighty Thor from Ægir’s palace-hall he knew that he could never again be allowed to come among the gods in Asgard. Many times had this mischievous fire-god brought trouble and sorrow to the Æsir, but now he had done the most cruel deed of all, he had slain Baldur the Good, and had driven all light and joy from Asgard.
Far away he fled, among the mountains, hoping that no one would find him there; and near a lovely mountain stream he built for himself a hut with four doors looking north, east, south, and west, so that if the wise Allfather, on his high air throne in Asgard, should see him, and send messengers to punish him, the watchful Loki could see them coming and escape by the opposite door.
He spent most of the days and nights thinking how he could get away from the Æsir. “If I ran to the stream and turned myself into a fish,” he thought, “I wonder if they could catch me. I could keep out of the way of a hook; but then there are nets; Ægir’s wife has a wonderful thing like a net, for catching fish, and that would be far worse than a hook!”
When Loki thought of the net, he began to wonder how it was made, and the more he thought, the more he wished he could make one so as to see how a fish could keep from getting caught in it. He sat down by the fire in his little hut, took a piece of cord and began to make a fish-net. He had nearly finished it when, looking up through the open door, he saw three of the Æsir in the distance, coming toward his hut. Loki well knew that they were coming to catch him, and, quickly throwing his net into the fire, he ran to the stream, changed himself into a beautiful spotted salmon, and leaped into the water.
A moment later the three gods entered the hut, and one of them spied the fish-net burning in the fire. “See!” cried he, “Loki must have been making this net to catch fish; he always was a good fisherman, and now this is just what we want for catching him!”
So they snatched the last bit of the net from the fire, and by looking at it found out how to make another, which they took with them to the bank of the stream.
The first time the net was put into the water, Loki hid between two rocks, and the net was so light that it floated past him; but the next time it had a heavy stone weight, which made it sink down, till Loki saw he could not get away unless he could leap over the net. He did this, but Thor, seeing him, waded out into the stream, where he threw the net again, so that Loki must jump a second time, or else go on out into the deep sea.
As he leaped, Thor stooped and caught him in his hand, but the fish was so slippery that Thor could hardly hold it. In the struggle the salmon’s tail was pinched so tightly by the thunder-god’s strong fingers that it was drawn out to a point, and the old stories say that is why salmon tails are so pointed ever since.
Thus was Loki caught in his own trap, and dreadful was his punishment. The Æsir chained him to a high rock, and placed a great, poisonous serpent, hanging over the cliff above his head.
If it had not been for Loki’s good, faithful wife, he would have died of the poison that dropped from the snake’s mouth. She watched by her husband, holding a cup above him to catch the poison. Only when she had to turn aside to empty the cup did the drops fall upon Loki; then they gave him such terrible pain that he shook the earth with his struggles, and the people in Midgard fled from the dreadful earthquake, in Iceland the great geysers, springs of hot water, burst through the earth, and in the south-lands burning ashes and lava poured down the mountain-sides.
There, chained to the cliff, the cruel, mischievous Loki was to lie until the Twilight of the gods, the dark day of Ragnarök, when all the mighty evil monsters and beasts would get free, and the terrible battle be fought between them and the gods of Asgard.