Value Points :
The snake had come there first; narrator a thorough gentleman; a good host treated the snake as an honoured guest; majestic; royal creature.
Detailed Answer :
The narrator was a thorough gentlemen who allowed the snake to quench his thirst first because the snake was already there at the water trough when he came down with a pitcher to drink water. He treated the snake as an honoured guest and held him in great esteem as he found him to be a majestic and royal creature.