moved lower by 4.98 points to close at 1,153.42 on a share volume of 3,784, valued at $54,148. There was no bond activity.

BF&M 9% preferred led the way on a volume of 2,800 at an unchanged price of $10 a share.

Only two other issues traded. One of them, the Bank of Butterfield, lost ground, trading $0.50 lower, down to $32 on a volume of 450. The third issue trading was the Bank of Bermuda, closing unchanged at $22 on a volume of 534.