The Whites are playing chess, waiting for a visitor.
I regret my wish.
Major Morris (the visitor) tells the Whites that he has brought the Monkey's paw along with him. "Whoever possesses it gets three wishes," he said "I was going to throw it into the fire tonight, it is very dangerous."
Herbert White tells his father to wish for something sensible, like £200, and so he does. Herbert jokes about the paw.
Later that day, another visitor arrives, telling the Whites that their son was caught in machinery and that the company gives £200 as compensation.
Mr and Mrs White argue about using the last wish, they want to use it to bring back Herbert.
Mr White had finally found the Monkey's paw and so he took a deep breath and made his third and final wish.