PÉREZ Y CIA.
image by Jorge Candeias, 10 March 1999
Sources vary both letter shape and the width of the red band. The Spanish house-flags website shows a slightly wider band than the FOTW version. Lista Oficial 1954 gives equal bands, with smaller, squarer letters; Rosanoski explicitly corrects his earlier description of a broad band to equal. The company website likewise shows three bands of similar or equal width.