[obloquy]

From Unfinished Tales - The Istari:

For they [the Istari]came from over the Sea out of the Uttermost West; though this was for long known only to Cirdan, Guardian of the Third Ring, master of the Grey Havens, who saw their landings upon the western shores.

...

But Cirdan from their first meeting at the Grey Havens divined in him [Gandalf] the greatest spirit and the wisest; and he welcomed him with reverence, and he gave to his keeping the Third Ring, Narya the Red.

'For,' said he, 'great labours and perils lie before you, and lest your task prove too great and wearisome, take this Ring for your aid and comfort. It was entrusted to me only to keep secret, and here upon the West-shores it is idle; but I deem that in days ere long to come it should be in nobler hands than mine, that may wield it for the kindling of all hearts to courage.'

And this from LotR, Appendix B:

Gil-galad before he died gave his ring to Elrond; Cirdan later surrendered his to Mithrandir. For Cirdan saw further and deeper than any other in Middle-earth, and he welcomed Mithrandir at the Grey Havens, knowing whence he came and whither he would return.

[ November 28, 2001: Message edited by: obloquy ]