Close: Manfred Klein/Potsdam
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Commented as Robert Golpon fuer Trenneret & Sohn, 1934.

Edited:
As Mike says, Element by Max Bittrof, 1933 for Bauer. Here is a full character set of the original

The other fonts suggested are similar but not the same. They are all part of early 1930s attempts to produce no frills versions of Fraktur and bridge the gap between blackletter and Roman letters.
The style was despised by some as "Jackboot Blackletter," which is the usual translation of "Schaftstiefel Grotesk," a political condemnation of the style by German socialists in the 1930s.
Also see a short note on these issues at http://www.100types.com/100types.com.91element.html
The digital Element by Gerhard Helzel appears to be a reasonably accurate interpretation. Your sample seems to be the schmallfett weight.
The fett weight of Element has also been digitized as Chistmas http://www.myfonts.com/fonts/newfonts/christmas/ but the quality is inferior to the versions made by Gerhard Helzel.
Photolettering did versions under the name Seidelburg The font was sometimes used for alpine resorts in North America. It was also used as the model for signage at U.S. camps used to intern Japanese "enemy aliens" during WWII. Some of the camps were in the mountains, but it would be difficult to call them alpine resorts.
Don