The Benefit of a Second Pair of Eyes

We were out on our usual weekend treaure hunt and my wife uncovered this blue and white pottery pitcher. It really shows a lot of age and I love the polka dot and double stripe design! Turning it over I saw it was marked but even with my loop I could not make it out! It was apparently a utilitarian piece. Just prior to taking these pictures I asked my wife what she thought. "Germany" she said without hesitation, "It says Germany." So much for my mystery. I still can't make out the rest! But just knowing it says Germany narrows it down to the first part of the 20th century. If anyone recognizes the maker could you please let me know! It is, by the way, one of her all time favorite pieces unlike my little rolltop desk below!