on a volume of 4,975 shares valued at $44,637.50 and 10,050 bonds valued at $9,748.50.

Three issues traded, two gaining and one falling in value. Bermuda Commercial Bank gained 1/8 to close at $4.25 on a volume of 1,000 shares. The Bank of Butterfield fell 1/8 to close at $101 on a volume of 3,975.

Bermuda Telephone Co. Ltd. bonds gained $6 to close at 97 on a volume of 10,050.

Bermuda Bakery Ltd. yesterday declared a regular quarterly cash dividend of 22 cents per share on May 27 to holders of record May 19, with the stock trading ex-dividend May 15.