The Lake-folk have been most hospitable. Dwarves were doctored and fed and housed and pampered in the most delightful and satisfactory fashion. A large house was given up to Thorin and his company; and crowds sat outside and sang songs all day, or cheered if any dwarf showed so much as their nose.
Bilbo did not take much delight in the festivities. First he had a severe cold, and even when it passed he did not feel particularly cheerful. He didn't forget the look of the Mountain, or the thought of the dragon. Also, he had other things to worry about.
Bilbo turned the new ring in his fingers. With all the fuss of escape and the barrel business he didn't really had much time to look at it. Unlike the other, this one was pale gold, with carvings on it, looking very much like the old Elven runes on the map Thorin had. The ring was nice and smooth to touch, and the carvings tickled his fingertips pleasantly.
'How did you come by this?' came a deep voice from behind him. Bilbo startled. Thorin stood next to him, wearing the most peculiar expression.
Since the beginning of the journey, Bilbo had seen many of emotions on this regal face. He'd seen it brooding, concerned, enraged, contorted in a battlecry. But never before he'd seen Thorin so smitten with awe. Even the moment at Carrock when they were looking at distant Erebor paled in comparison.
'Can I see?' asked the Dwarven King, extending his hand.
There was no reason for Bilbo to refuse. Moreover, he felt Thorin would not take 'no' for an answer.
The king took the ring eagerly, turning the precious thing this way and that, scrutinizing it most intensely. When he finally spoke, his voice was even deeper than usual. It vibrated, sending shivers down the listener's spine.
'This ring belonged to my father, Thráin, and to my grandfather, Thrór, before him,' he announced dreamily. 'My father wore it when he went under the Azanulbizar, where he was murdered by Azog the Defiler. It was not on the Pale Orc's hand that I cut out in the battle. I thought it was lost forever. How come you have it?'
By the end of this speech, all the dwarves gathered around Bilbo and Thorin, feeling something singular is going on.
'When I told you my tale while you were still sitting in your cell, I did not tell you all of it,' Bilbo answered. Dwalin frowned suspiciously. Oin stuck his listening device into his ear. Bofur and Balin exchanged smiles. Bilbo saw Kill nudge Fili excitedly.
'Well,' Thorin's smiled gently, his dark blue eyes twinkling. 'Now seems to be the time for it.'