when Tolkien wrote The Hobbit, he made very few references to the
Silmarillion. So he came up with an identity for the Elven-king much
later, when he was writing the appendices for LotR. Check out the link
below to the online Encyclopedia of Arda for the answer to this and many other
questions about
Middle-earth.
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"‘I think he was a silly little man,' said Councillor Tompkins. ‘Worthless, in fact; no use to Society at all.'
"‘Oh, I don't know,' said Atkins, who was nobody of importance, just a schoolmaster. ‘I am not so sure: it depends on what you mean by use .'
"‘No practical or economic use,' said Tompkins. . . .
. . .
"‘It is proving very useful indeed,' said the Second Voice. ‘As a holiday, and a refreshment. It is splendid for convalescence; and not only for that, for many it is the best introduction to the Mountains. It works wonders in some cases. I am sending more and more there. They seldom have to come back.'"