Suspicious of Rendal, Watcyn now looks to you for help.
'Well, I've got something to ask of you. I'll be honest, I don't have anything to give you in return -- yet. And I can't promise it'll be much. But I lost everything in Caranost while I was fleeing from the Orcs. They put up a good chase, so I kept dropping my things 'til I had nothing left to weigh me down.
'Could you retrieve what you can for me? I'd rather not rely on Rendal more than I need to.
'All I remember is running down those stairs west of here, before the Orcs caught up with me.'
Watcyn's lost belongings should be scattered around the stairs in Caranost, west of Sírlond.
You have reclaimed Watcyn's belongings -- or, at least, whatever was left.
You should return to Watcyn in Sírlond.
Watcyn has asked you to split some of his coin between you and Rendal.
Rendal has returned to Sírlond by now.