[Ron Wood]

Bob,
To be honest, the name Hugo Borchardt did come to mind when I first saw the case. But lacking any further link to the inventor, neither the seller nor I attached any significance or dollar value to the marking. Although the lettering is aged and matches the overall condition of the case, it could have been added by anyone at any time during its history. Without provenance, the initials are just an interesting marking on the case.

P.S. - I am surprised that no one has risen to the challenge of identifying the third, and probably the most significant, difference between a Loewe and a DWM Borchardt.(see the thread on "My first Borchardt")