The Hobbit: Out of the Frying-Pan Into the Fire
In this chapter, Bilbo started showing off. For quite sometime he hasn’t proven how good of a burglar he is. Escaping the goblins on his own is a very big surprise for the company, much more his coming unnoticed, even with Balin’s look out. Here also the tale of the ring is born. Though Bilbo did not revealed the existence of the ring yet, much more of its magic.
The chapter tells of the continuation of their struggle with the goblins from the Misty Mountain. Their trouble didn’t stop when they escaped the mountain. Their trouble followed them through the forest. And it was doubled when they, by mistake, rested on the meeting place of the wargs (evil wolves).
The members of the company would have been killed if not for the help of the eagles. The eagles came at the right time, rescuing the company from being roasted alive.
On eagles and wolves
Eagles and wolves are descendants of animals more powerful that roamed Beleriand during the First Age. The eagles were the people of Thorondor, Lord of Eagles. Eagles are from Manwe, spirits embodied as creatures of the air.
The wolves were created by Morgoth himself, the most powerful being Carcaroth, who killed Beren Erchamion.
Here the battle between the Valar and Morgoth is shown to be still going on. For aside from the goblins (orcs), there were wolves of Morgoth. But there is also the eagles of Manwe, and most of all Olorin, the Maiar.