Back on the Wall, Jon gets a present: for burning his hand while destroying the wight, he gets Jeor's ancestral blade, which is made of Valyrian steel (check out our discussion of "Setting" for more on Valyrian steel).
(Also, Jeor sent Allister Thorne to the south to show off the wight's not-quite-dead hand.)
All of Jon's friends are excited by this sword – named Longclaw – but Jon can't quite get into the celebrations: he's heard about Robb's army. Jon still feels like Robb is his brother: he should do something for him.
Maester Aemon talks to Jon about how the Night's Watch is neutral and protects the whole realm; and when that doesn't move him (who wouldn't be moved by thrilling tales of neutrality?), Aemon tells Jon his own story: he's actually Aemon Targaryen, but he put his family aside when he joined the Night's Watch.