In a heavy day of trading, the Bermuda Stock Exchange index took a beating, as bank shares tumbled. There were no gainers, as the index fell 25.67 points to
Leading the decline was the Bank of Butterfield stock, which fell one dollar to close at $32.00 on a volume of 1,748 shares. The Bermuda Commercial Bank fell 87.5 cents to close at $105 on a volume of 466.
Two hundred and fifty Bank of Bermuda shares traded at $227 , down 62.5 cents.
The other decliner was Watlington Waterworks, which fell $1.75 to $11.00 on a trading volume of 1722.
BF&M Ltd. saw 7,000 shares change hands at the unchanged price of $6.50.
BF&M 9% Conv. Cum. Red. Pref. shares were unchanged at $10.00 after a trade of 2,000. The other insurance stock traded Argus Insurance Co. Ltd. with 1,000 shares changing hands at the unchanged price of $10.00.
The Bank of Bermuda 9% Sub. US$ Cap. Notes were unchanged at 107.5 on a volume of 2,000. And the Belco 7% 1st Mort. Notes '98 were unchanged at 102 after a volume of 5,000.
