Stunning!!!J. .Hückel´s Söhne "Flexible", possibly 1930s. The smooth finish black felt is light in weight and very pliable. The off-white wide sweatband, gilded liner logo, and liner piping are more inline with JHS Stiff Felts. The overall condition is excellent. I found this Soft Felt back in 2017.
Mauerer Wien established 1873 are still in business today.
I haven't encounter any hat company having hanging cords as early as JHS so JHS may have been the first. I believe this is only one I have with a barbed knot.
J. Hückel´s Söhne "Grand-Prix Paris" Display, possibly 1920s - 1930s. Found this back in 2018.