Bermuda Exchange started 1993 in the fast lane.

The Exchange Index was up by 19.86 to close at 946.46 -- its fifth consecutive record high.

Exactly half a million dollars worth of the new 6.5 percent Government Bonds were traded.

There was $262,893 worth of trading in Bank of Butterfield stock, which climbed by $1.25 to $26.25, with a volume of 10,015.

The Bank of Bermuda also got in on the act, with its shares rising by 50 cents to $38.50, with a volume of 5,512.

Both banks declared a dividend -- 50 cents per share for the Bank of Bermuda and 25 cents for the Bank of Butterfield.

Masters was the only other company whose stock went up in value, rising by 25 cents to $9, with a volume of 1,896.

Other trades were -- BF&M nine percent preference shares, closing at $12.50, with a volume of 3,176; Devonshire Industries, $9.875, 500; BF&M Ltd., $8, 367; and Bermuda Electric Light Co., $17.50, 209.

Other dividends declared were Bermuda Computer Services, of 20 cents; Argus Insurance, 12 cents; BF&M Ltd., ten cents; Bermuda Press (Holdings), nine cents; and Bermuda Telephone Company, 48 cents.