Now it is said that Dietrich and Hildebrand rode forth from Bern with their hawks and dogs to the forest to enjoy themselves. They let the hawks fly and loosed the dogs. And when Dietrich followed a hawk he saw a dwarf walking. Dietrich spurred his horse and pursued the dwarf, and before he could come to his cave Dietrich took him by the neck and took him with him in the saddle, and this was the dwarf Alberich the famous thief from whom old sagas speak
The dwarf spoke: Lord, if I can buy my life with it, I'll show you where so much gold, silver and jewelry are that even the rich king Dietmar, your father, doesn't have such amounts. And this treasure is with two people, a woman called Hilda, and her husband is Grim, who is as strong as twelve men, but his wife is even stronger, and they are cruel and evil. He also has a sword called Nagelring, and it is the best of all swords. But you can only defeat them if you first take the sword. And it would be a greater heroic deed of you two to conquer this treasure than to take me with my small body and weak legs.
Dietrich said: I will never free you unless you give me Nagelring in my hand today, and even then you will show us where this treasure is. The dwarf agreed and swore the oath Dietrich required. Dietrich freed him, and he and Hildebrand hunted birds and animals the entire day until the ninth hour
Dietrich and Hildebrand dismounted, tethered their horses, and then Dietrich drew Nagelring, and both felt they had never seen a better sword.
Then they entered the gap and found the earth-house. Then they bound their helmets tight, donned their armour, and took their shields. Now Dietrich courageously went into the earthen-house, and Hildebrand close behind him. And when the giant Grim saw a strange man had entered his house he jumped to his weapon rack, but saw his sword was missing, and he understood that the dwarf Alberich, the famous thief, must have stole it. From the fire he took a burning tree and attacked Dietrich.
But Hilda took Hildebrand by the neck so tightly he could not move, and Hildebrand fell to the ground and Hilda on top of him. She wanted to bind him, and pressed his arms so hard that blood sprang from his nails, and so tightly she pressed her knees against his breast that he fell unconscious. Then Hildebrand called
I'll help you, Dietrich called, because I will not suffer my foster father to be brought into mortal danger by a woman. And with one stroke Dietrich beheaded Grim, and sprang to where his tutor lay, and cut Hilda in two. But she was so magical
And a third time Dietrich clove her in two, and stood with both feet between the parts, and her lower part was dead, but her upper part said: I would want that Grim had taken Dietrich as I have taken Hildebrand, then we would have won. And now both pieces fell apart.
Hildebrand sprang up and said: You have given me as much help as possible, and God thanks you for it. Then they took the gold and silver and jewelry, and they saw the dwarf had not lied. Under the treasure Dietrich found a helmet, and the dwarf Alberich had told Dietrich the following about it
Now Dietrich and Hildebrand took so much treasure as their horses could carry, and buried what was left. Then they went home, and Dietrich became famous in all lands because of this heroic deed.
Now Witig rode a long way through forests and lands inhabited and uninhabited. He came to a large river called Eiðisá
Meanwhile three knights rode by, and these were Hildebrand, Dietrich's foster, and the other Heime, and the third was jarl Hornboge. Dietrich had sent the first two to jarl Hornboge to invite him to come to Bern, since he had heard the jarl was a great hero, and he wanted to make Hornboge his companion.
Now Hildebrand said to his companions: In this river I see a dwarf, which might well be the dwarf Alberich that Dietrich once defeated and won his sword Nagelring from, and his helmet Hildegrim, and I was there as well
Then Ecke said that nine royal daughters and their mother, his fiancée, had armed him for this battle, and he came here for their sake, and he went on to describe his armour in great detail, as well as his sword Eckisax, which was wrought by the same Alberich that made Dietrich's sword Nagelring, deep under the earth, and when he was done he searched for the water to harden it in nine kingdoms, and found it in the stream called Treya. Blade and hilt are both made of red gold, and the sword was fitted with gemstones. And one had to search far and wide before one found a sword similar to it, but Alberich the dwarf, the great thief
Then Dietrich wondered aloud why he would flee for a sword he couldn't see, and from a man he knew nothing about except for his boasting. He had lost his way and his companions, and if Ecke wanted to keep his life he should not challenge him to a duel again.
Status: summary of 4 chapters complete.