over a million shares changed hands. The index was affected by the fall in prices of both Bank of Bermuda and Bank of Butterfield stock, which fell by $1.25 to $28.25 and 25 cents to $15.25 respectively. There was no change in the price of Bermuda Commercial Bank which closed unchanged at $5.00 -- its 52 week low.

Kentucky Fried Chicken shares fell $1.00 cents after their quarterly report was issued to close at $4.00. The company's 52 week low is $3.25. BF&M 9 percent preferred shares closed down 50 cents to $9.00. The only other share to change price was BELCO Holdings which fell $1.05 to $19.80.

The index closed at 1,409.63, down 19.598 points or 1.39 percent on a volume of 50,871 shares worth $1,094,294 and 15,000 bonds worth $14,175.