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If you are referring to near the end of the book where Thorin rejects Bilbo, it is because of a dwarf's greediness for gold and treasure. Thorin had been searching for the Arkenstone of his father, Thrain, in the Lonely Mountain, and was upset that he could not find it. He was shocked when he found out that the very Hobbit that the dwarves had put all of their trust in had betrayed them and found the Arkenstone and did not tell him.

Bottom line, dwarves are greedy.

Hope this answer helped. :)

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