Capricorn dies, and many of his men (like Flatnose and Cockerell) vanish; the rest run away.
For whatever reason, Mortola is still there, with tears on her face as she looks at Capricorn's corpse. Fenoglio has vanished, though—into the book, maybe?
Meggie reads the rest of the paper, narrating that the Shadow disintegrates into the beings from whose ashes he was made: men, women, fairies, and so on. And that's exactly what happens, so suddenly the church is filled with living beings, both mundane and magical.
Farid picks the lock of the cage, but before Resa and Elinor can get out, Basta grabs Resa and threatens to choke her to death if they don't let him pass. Elinor doesn't stand down, though, and finally Basta pushes Resa into her and manages to escape while everyone's distracted.
They all decide to spend one last night in the abandoned village. Teresa and Mo spend the time in each other's arms, trying to catch up on all that's happened in nine years, while Elinor wanders around meeting the trolls and fairies. Meggie sleeps.