Elrond
Elrond, master of the Last Homely House in Rivendell, is a figure of immense wisdom, nobility, and ancient lineage who plays a small but decisive role in Bilbo Baggins's great adventure. As an elf-friend descended from the heroes of the North and the elves, he is described as noble and fair in face as an elf-lord, as strong as a warrior, as wise as a wizard, as venerable as a king of dwarves, and as kind as summer. His house, the Last Homely House west of the Misty Mountains, is a perfect refuge where evil things do not enter, and where the company of Thorin Oakenshield finds rest, healing, and essential guidance for fourteen days at least, from midsummer eve onward.
Identity and Background
Elrond is the chief of those people whose fathers came into the strange stories before the beginning of History, the wars of the evil goblins and the elves and the first men in the North. He is an elf-friend, and his house is the Last Homely House, a place of perfect comfort whether one prefers food, sleep, work, story-telling, singing, or just sitting and thinking. Evil things do not come into that valley. He knows all about runes of every kind, a skill that proves vital to the quest.
Role in the Quest: Identifying the Swords and Reading the Map
Elrond's first crucial contribution comes when he examines the swords the company brought from the trolls' lair. He immediately recognizes them as ancient blades of the High Elves of the West, made in Gondolin for the Goblin-wars. He names Thorin's sword Orcrist, the Goblin-cleaver, and Gandalf's sword Glamdring, the Foe-hammer, which the king of Gondolin once wore. He also examines Thror's Map, and by holding it up to the light of a broad silver crescent moon, he discovers hidden moon-letters beside the plain runes. He reads the secret message: "Stand by the grey stone when the thrush knocks, and the setting sun with the last light of Durin's Day will shine upon the key-hole." This revelation provides the crucial clue for finding the secret entrance to the Lonely Mountain.
Significance and Legacy
Elrond's wisdom and hospitality restore the company's spirits and equip them with the knowledge they need to proceed. The company's clothes are mended, their bruises healed, their tempers and hopes refreshed, and their bags filled with provisions. Their plans are improved with the best advice. Though his part in the story is small, it is important, and his house remains a symbol of safety and wisdom in the wild. Bilbo Baggins, who becomes an elf-friend himself, later returns to Rivendell after the adventure, where he learns from Gandalf's conversation with Elrond that the White Council had driven the Necromancer from his dark hold in the south of Mirkwood, a piece of news that brings hope for the future of the North.

