Thorolf Skallagrim's son made him ready one summer for a trading voyage;
he purposed what he also performed, to go to Iceland and see his father.
He had now been long abroad.
By this he had got great store of wealth and many costly things.
When ready for the voyage, he went to king Eric.
And at their parting the king delivered to Thorolf an axe,
which he said he wished to give to Skallagrim.
The axe was snag-horned, large, gold-mounted, the hilt overlaid with silver;
it was most valuable and costly.

Thorolf went his way as soon as he was ready, and his voyage sped well;
he came with his ship into Borgar-firth, and at once hastened home to his father.
A right joyful meeting was theirs. Then Skallagrim went down to Thorolf's ship,
and had it drawn up, and Thorolf went home to Borg with twelve men.
But when he came home, he gave Skallagrim King Eric's greeting,
and delivered to him the axe which the king had sent him.
Skallagrim took the axe and held it up, looked at it awhile, but said nothing.
He fixed it up by his seat.