Notice the spacing between N, Y and the ampersand--it is wide to accomodate the periods. The spacing between characters after the ampersand is narrower. To me, that looks like a word or longer abbreviation after the ampersand.
Trainwreck, I noticed that myself. And I agree that it would be strange if the second part was a two letter abbreviation,, but it definitely appears to be a C and I can't think of anything that starts NC... Even if that is an O, it looks like it would have to be NONJ... no clue what that would be either. This is just really a puzzler.
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