His head and beard wagged this way and that (его голова и борода мотались из стороны в сторону;
“Here it is at last (вот она, наконец-то)!” he called (выкрикнул/позвал он), and the others gathered round him (и другие собрались вокруг него) and looked over the edge (и посмотрели через край /обрыва/). They saw a valley far below (они увидели долину далеко внизу). They could hear the voice of hurrying water (они могли слышать шум: «голос» спешащей воды) in rocky bed (по каменистому ложу;
flutter ['flt] suddenly ['sd nl] scent [sent]
His head and beard wagged this way and that as he looked for the stones, and they followed his head, but they seemed no nearer to the end of the search when the day began to fail. Tea-time had long gone by, and it seemed supper — time would soon do the same. There were moths fluttering about, and the light became very dim, for the moon had not risen. Bilbo’s pony began to stumble over roots and stones. They came to the edge of a steep fall in the ground so suddenly that Gandalf s horse nearly slipped down the slope.
“Here it is at last!” he called, and the others gathered round him and looked over the edge. They saw a valley far below. They could hear the voice of hurrying water in rocky bed at the bottom; the scent of trees was in the air; and there was a light on the valley-side across the water.