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Local stocks surge

995.62 as issues valued at $68,002.13 traded.In total 4,720 shares, valued at $51,129.63, and 17,000 bonds, valued at $16,872.50 changed hands.

995.62 as issues valued at $68,002.13 traded.

In total 4,720 shares, valued at $51,129.63, and 17,000 bonds, valued at $16,872.50 changed hands.

The Bank of Bermuda closed at $18, up $0.375 on a volume of 103, while the Bank of Butterfield was also up $0.375 on a volume of 180 to close at $10.875.

BF&M 9% Conv. Cum. Red. Pref. was down $0.375, closing at $9.125 on volume of 2,700.

Two traded stocks remained at an unchanged price. Staples Holdings Ltd. 10% Pref. remained at $9.375 after 600 shares traded, while Belco remained at an even $20 on a volume of 1,137.

Meanwhile, Bda Govt 61 % BDA$ Nov 30 1997 17,000 firmed three and a half cents to close three quarters of a penny below par.

And Watlington Waterworks suspended trading on the Exchange to make the announcement of the merger with Pure Water (Bermuda) Ltd. The stock last traded October 19 at $4.875.