Bard comes to Thorin and produces the Arkenstone. Bilbo explains how he came into his possession, which irritates Thorin. Gandalf will appear. Thorin promises Bard to save the stone from a fourteenth of the reserve. Bard goes out to meet Dain, approaches with his five hundred dwarves and refuses to let him pass. Elvenking wants a reconciliation, but the dwarves strike. Gandalf warns against Wargs and Goblins who could attack. The battle of the five armies takes place: elves and wild wolves (Wargs) confront the elves, men and dwarves. The eagles that have already saved Bilbo and the wargs are approaching.
Bilbo is beaten with a stone and comes out. In this chapter the Battle of the Five Armies takes place, and Bilbo repeats some of his previous Hobbit behaviors when he is knocked out by a stone, which puts an end to any other heroism on his part. Thorin`s greed and anger at Arkenstein`s flight set in motion the many alliances and enmities among the various creatures of this world. These relationships have developed over time, some for no understandable reason, others have simply said that they have always been historically so. The message seems clear in this pre-World War II book: peacekeeping is threatened by those motivated by personal and material benefits and undisputed loyalty to long-standing political relations.