Consider the following statements: 
1) There will be no defects in select grade timbers. 
2) The codal values for strength of grade-II timer without defects may be reduced by 37.5%. 
3) For timber used as columns, the permissible stress in ungraded timbers is adopted with a multiplying factor of 0.50. 
4) In case of wind force and earthquakes, a modification factor of 1.33 is adopted. 
Which of the above statements are correct?