In this scene we see everybody mourning and weeping the loss of balder. Everyone in the upper world misses him and wishes he was still there with them. “After the death of Balder the world grew so dreary that no one had any heart left to work or play.” Ever since balder died the world became so sad and everybody felt like they didn't have a purpose without him bringing them joy and life.
This scene shows when Hermod, Balder’s brother, rode Sleipnir down to the throne of Hel in Niflheim. His reason is to try to get his brother back. Hel exclaims, “His life must be bought; the price must be paid in tears. If everything upon earth will weep for Balder’s death, then may he return, bringing light and happiness to the upper world. Should one creature fail to weep, Balder must remain with me.” This means that everyone can help to bring the beloved god.
In this scene, an old grumpy Giantess is refusing to cry for Balder. She says because she has no reason to, as he meant nothing to her. “Balder is nothing to me… I care not whether he lives or dies. Let him bide with Hel - he is out of mischief there. I weep dry tears for Balder’s death.” With the refusal by the giant, Balder couldn’t come back and bring joy.
In the fourth panel we see Loki hiding in his stone castle. His castle is strong and has four doors, North, South, East, and West so that he can keep a look out from each of the directions. “ As Loki sat busily knotting the meshes of the net, he happened to glance out of the south door, - and there were the Aesir coming in a body up the hill towards his castle.” Odin found where his castle was and now they are about to try to capture him, so he flees.
After Loki fleas the castle he dives into the water of the stream and turned himself into a fish behind his castle to try to avoid them. “When he was well under water, he changed himself into a salmon, and flickered away to bask in his shady pool and think how safe he was.” Loki thinks that he is safe because he thinks they didn’t know he was in the water. Also he burns his net so they couldn’t use it to catch him.
In the last frame, we see Loki’s punishment after the Aesir catch him in the net they make based on the leftovers of the net Loki tried to burn. Loki was chained up in a hole dug deep down into the core of the earth. The more he moves, the tighter his restraints become. “Over his head Skadi, whose father he had helped to slay, hung a venomous, wriggling serpent, from whose mouth dropped poison onto Loki’s face, which burned and stung him like fire.” Loki is stuck in this prison until Ragnarok happens.