8.46 points to 1,157.78 in active trading.

Several issues lost value on the market including the Bank of Butterfield's shares, which slumped 50 cents to $33.50, on volume of 1,097. The Bank of Bermuda was down 12.5 cents to $20.375 on volume of 1,500.

Argus Insurance Company's shares fell 12.5 cents to $11.625, on volume of 498 while Belco dropped 50 cents to close at $21 on volume of 1,000.

The only gain of the day was Masters, which leapt $1.75 to $8.75 on volume of 385.

BF&M's nine percent convertible preference shares traded unchanged at $8.50 on volume of 4,838.

The following companies declared dividends: Bermuda Commercial Bank, 10 cents; Devonshire Industries, 20 cents; and Belco, 25 cents.

Shares worth $561,084.13 and bonds worth $266,162.50 were traded on the Exchange last week.