day after Mr. Donald Lines announced he was stepping down next year as the Bank's president.

Nearly $300,000 of the Bank's stock was traded and it went up by $1.25 to $40 per share, driving the Exchange Index to its seventh consecutive record high.

The Index closed at 946.46, a jump of 2.15 percent or 20.74 points. The biggest riser of the day was the stock of Argus Insurance, which rose by $1.75 to close at $13, with a volume of 1,000.

There was bad news for Bermuda Fire and Marine Insurance, whose stock went down by five cents and is now worth just five cents per share. Nearly 40,000 of the run-off firm's shares were traded.

It was an unusually quiet day for the Bank of Butterfield, whose stock remained unchanged at $27 with low volume of 1,518.

BF&M nine percent preference shares went up by 50 cents to close at $13, with a volume of 3,426.

In other trades, there was no change in the values of shares. The Bank of Bermuda's eight percent preference shares went for $12.50, with a volume of 7,298; Bermuda Commercial Bank, $7, 700; Bermuda Aviation Services, $3.25, 134; BF&M Ltd, $8, 3,480; and BELCO, $18, 250.

The total value of shares and bonds traded was $633,151.