The scandalous reports concerning Olaf Gueldmar were incorrect,--he had evidently laid the remains of his wife in the shell-cavern, for some reason connected with his religious belief, and Thelma's visits to the sacred spot were now easy of comprehension.

No doubt it was she who placed fresh flowers there every day, and kept the little lamp burning before the crucifix as a sign of the faith her departed mother had professed, and which she herself followed.

But who was Sigurd, and what was he to the Gueldmars?
Thinking this, he replied to the dwarf's question by a counter-inquiry.
"How shall I be generous, Sigurd?
Tell me! What can I do to please you ?" Sigurd's wild blue eyes sparkled with pleasure.
"Do!" he cried.

"You can go away, swiftly, swiftly, over the seas, and the Altenfjord need know you no more! Spread your white sails!" and he pointed excitedly up to the tall tapering masts of the _Eulalie_.

"You are king here.