This quest is initiated by reading the first story in the book "Collected Stories of Serpent Tower." This book can be purchased from Sage Nevarius Orvalis at the North Freeport Academy. It takes place in The Serpent Sewer.
The first task required is to kill 6 Refuse Toads. After you have done this, read the book again.
You will then be asked to kill more refuse toads. After doing so, read the book again.
You will once again be asked to kill (surprise) refuse toads. Kill them and read the book again to complete the quest.
The reward is coin and experience. If you manage to complete all three sub-quests (see related quests) from the book you will be awarded with a version of the book "Collected Stories of Serpent Tower" which you can place in your home.