Isabella, inmate of the Great Hospice and, if she is to be believed, sister to the Emperor, has compiled a new treatise on diverse matters of import and interest to the folk of the Empire. It seems Isabella has turned her mind to the concerns of business and the practice of obscure religions (or, in the case of the cult of Handrich, a bit of both!). Her research into ancient beliefs has led her to ruminate on the similarities and distinctions between the cult of the Old Faith, the worship of Rhya, and the practice of hedge witchery, including updated material on the background of such traditions, and the techniques used by their priests and practitioners.

She ruminates on how adventurers with a bit of cash to spare might branch out into legitimate business, and how such decisions may lead to further adventures in turn. She has also turned her attention to the trade of the armourer, and considers the problems and benefits involved in a suit of armour. She also turns her attention back to matters in Ubersreik, detailing the personality and attributes of one Lord Adalbert Knopp-Itzel, a semi-retired knight of the Reiksguard who seems set on restoring the reputation of the Jungfreuds.