dropping 2.7 points. Nearly $1.5 million worth of shares traded hands. In a flurry of trading before Bank of Bermuda warrants were suspended on Thu rsday, 19,000 were bought and sold, closing down 13.64 percent at $4.75. Bank of Bermuda stock saw 16,022 shares change hands, and closed up 25 cents at $30.00.

Bank of Butterfield shares were also in big demand, with 41,778 stocks being traded, but the company's excellent quarterly results failed to shift the price from $17.50.

BF&M shares took a battering, dropping $3.50 or 43.75 percent to close at $4.50. KeyTech, the holding company for Bermuda Telephone Co. Ltd, fell $1.50 to $29.50, Watlington Waterworks fell 50 cents to finish at $4.00 and BTC 73 percent corporate issues rose $1.00 to $96.00. The index closed down 2.772 points to close at 1,507.32 on a volume of 94,043 shares worth $1,485,604.65.