After arriving in the great merchant city of Pazzio, Lawrence teaches Holo more about the many kinds of currency in use. Then the Wise Wolf earns her keep - and her title - by demonstrating her bargaining skills.

Lawrence and Holo continue on to the next city to sell the pepper and pick up their next goods on the long journey north. Holo puts her nose to good use, once again.

Betrayed and left for dead, Lawrence waits for Holo's return. Holo is no weak wolf to run off with her tail between her legs, and Lawrence the merchant won't lose his profit either. But will a wolf be willing to save a shepherd?

Lawrence and Holo continue their long journey north, reaching the town of Kumerson, where they see the first northern pagans of their journey.

The price of pyrite keeps rising, but when Diana's representative appears and informs him of the failed deal, Lawrence's plan collapses. Has he lost the bet against Amati and, consequently, Holo?

With a load of flour, Holo and Lawrence head deeper into the north, arriving at the town of Tereo, searching for an abbey with information on Holo's home.

Meeting with Elsa in the church, Lawrence and Holo are able to learn the truth about Father Franz's studies as Elsa reveals a hidden secret of the church, and the true location of the Abbey.

Lawrence, Evan, and Elsa manage to escape from the village on Holo's back. As they take a rest, they observe men from Enberch heading towards Tereo...