English Translation

-13- Comfin, which belongs to the Group of the Continental Iron Trade Association. The relationship between these two representatives was arranged in such a way that certain products were sold by Kam and other products by the Comfin. This fragmentation was due to adverse repercussions. After the political upheavals in March of last year, the union had to be dissolved as a result of the influence of the London House of the Continental Lisenhandel Company. In addition, the financial situation of the Comfin gradually deteriorated until it was finally unable to continue its sales activities. Their entire sales organization was taken over by a newly founded company, the N.V. Pragomet, which belongs to the whole of the Berg- und Hüttenwerks-Gesellschaft in Prague. At that time, the Witkowitzer Gewerkschait could not decide to contact the Pragomet and to have its products sold through it, but instead put all its sales into the hands of the company Kam. On the other hand, the continental union of iron-cutlery in Prague, which also provided for the sale of the products of the tube mill of the Witkowitz union abroad, has established a connection with the Pragomet. Bs is therefore the fragmentation of our representation ./.