English Translation

42 branch networks of this association were led to the "Dewa" and remained unsuccessful at the beginning. The cooperative presented legal opinions, on the basis of which the transfer of the entire branch network should be legally impracticable and was only willing to sell individual branches to the newly founded company. Since no satisfactory result could be achieved in this way, I engaged myself in the negotiations between the "Dewa" and the consumer association and prompted the German consumer cooperative to conclude its liquidation. This has now also happened. At the last Generel meeting of the Consumer Cooperative, the previous Board of Directors and the Chairman of the Supervisory Board were elected liquidators and held by the General Assembly the power to sell the entire assets and liabilities of the cooperative to the "Dewa" for a purchase price which covers the business shares and their remuneration during the last 3 years as well as the costs of liquidation. The "Dewa", which began its activity immediately after its foundation, will appear after the acquisition of the branches of the consumer association as well as a number of other shops already in the very near future. I am firmly convinced that this foundation will fulfil its tasks and that the "Dewa" will contribute substantially to the strengthening of German business in Prague. I would ask you, Mr. Secretary of State, to the establishment of the Deutsche Warengesellschaft in Kennt-