BERLIN (Aug. 18)
After prolonged negotiations, the Jewish-owned Schocken Department Stores Trust, one of Germany’s largest chains of retail shops, today passed into new hands.
The enterprise bears the name of Salmann Schocken, its founder, a prominent German-Jewish merchant and philanthropist, who emigrated to Palestine in 1933. Schocken founded the first store of the chain in Oelnitz, in central Germany’s industrial region, 34 years ago. At the peak of its existence, in 1932, the chain numbered 19 stores. One of the nation’s five largest enterprises of the kind, it was unique in that it was the only one whose shares were entirely in private hands, being the sole property of Schocken’s family and his brother, Simon.
Other Schocken interests in Germany will continue under the old ownership. The Schocken Publishing House has been constituted as a separate company and will continue its Jewish cultural activities. Also continuing under present management are the Schocken Estate and the Winkel Jewish Training Farm, near Berlin, which has an enrollment of 120 agricultural pupils.
Jewish employes of the Schocken Trust have been retrained with Mr. Schocken’s aid and have all emigrated. Mr. Schocken, who lives with his family in Jerusalem, is chairman of the Hebrew University’s executive council and its honorary treasurer.