CONSOLIDATED EDISON CO OF NEW YORK INC
SC 13E4/A, 1996-03-07
ELECTRIC & OTHER SERVICES COMBINED
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                SECURITIES AND EXCHANGE COMMISSION 
                       WASHINGTON, D.C. 20549 

                           ---------------- 
                           SCHEDULE 13E-4/A
                    ISSUER TENDER OFFER STATEMENT
            (PURSUANT TO SECTION 13(E)(1) OF THE SECURITIES
                        EXCHANGE ACT OF 1934) 
                          (AMENDMENT NO. 1)
                           ---------------- 

            CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.
            (NAME OF ISSUER AND PERSON FILING STATEMENT) 

- ---------------------------------------------------------------
             TITLE                                CUSIP

$5 Cumulative Preferred Stock (no par value)     209111 70 7

Cumulative Preferred Stock ($100 par value)
  -   5 3/4%  Series A                           209111 2* 3
  -   5 1/4%  Series B                           209111 88 9
  -   4.65 %  Series C                           209111 30 1
  -   4.65 %  Series D                           209111 40 0
  -   7.20 %  Series I                           209111 87 1
  -   6 1/8%  Series J                           209111 86 3
- ---------------------------------------------------------------
              (TITLE OF EACH CLASS OF SECURITIES)
            (CUSIP NUMBER OF EACH CLASS OF SECURITIES) 


                         RAYMOND J. MCCANN
                     EXECUTIVE VICE PRESIDENT AND
                     CHIEF FINANCIAL OFFICER
            CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.
                          4 IRVING PLACE
                       NEW YORK, NEW YORK 10003 
                           (212) 460-4407
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO 
RECEIVE NOTICES AND COMMUNICATIONS ON BEHALF OF THE PERSON FILING
STATEMENT) 
  
                         JANUARY 29, 1996
(DATE TENDER OFFER FIRST PUBLISHED, SENT OR GIVEN TO SECURITY
HOLDERS)


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                        CALCULATION OF FILING FEE 

Transaction Valuation                    Amount of Filing Fee
$478,285,488                               $95,657.10

*  Solely for purposes of calculating the filing fee and computed
pursuant to Section 13(e)(3) of the Securities Exchange Act of
1934, as amended, and Rule 0-11(b)(1) thereunder, the transaction
value equals the total amount of funds, excluding fees and other
expenses, required to purchase all outstanding shares of each
class of securities listed above pursuant to the Offer described
in the Offer to Purchase filed as an Exhibit hereto.


/_X_/ CHECK BOX IF ANY PART OF THE FEE IS OFFSET AS PROVIDED BY
RULE 0-11(a)(2) AND IDENTIFY THE FILING WITH WHICH THE OFFSETTING
FEE WAS PREVIOUSLY PAID. IDENTIFY THE PREVIOUS FILING BY
REGISTRATION STATEMENT NUMBER, OR THE FORM OR SCHEDULE AND THE
DATE OF ITS FILING. 

Amount Previously Paid:   $95,657.10
Form or Registration No.: Schedule 13E-4
Filing Party: Consolidated Edison Company of New York, Inc.
Date Filed: January 29, 1996



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ITEM 1. SECURITY AND ISSUER. 

Item 1 is hereby amended and supplemented by adding thereto the
following:

The Offer (as defined in the Offer to Purchase) expired at 5:00
p.m., New York City time, on February 27, 1996 in accordance with
its terms.  Prior thereto, at 3:00 p.m., New York City time, on
February 27, 1996, Consolidated Edison Company of New York, Inc.
("Con Edison") terminated the Offer with respect to Con Edison's
$5 Cumulative Preferred Stock (no par value).  On March 6, 1996,
Con Edison purchased the shares of Con Edison's Cumulative
Preferred Stock ($100 par value) validly tendered pursuant to the
Offer by depositing the aggregate purchase price therefor with
the Depository.  The shares so purchased, and purchase price
therefor, for each series of preferred are as follows:

Series of Preferred            Shares          Purchase Price
 5 3/4%  Series A              529,388        $ 48,333,124.40
 5 1/4%  Series B              611,562          51,126,583.20
 4.65 %  Series C              446,704          36,026,677.60
 4.65 %  Series D              527,670          42,556,585.50
 7.20 %  Series I               25,000           2,626,000.00
 6 1/8%  Series J              129,500          13,176,625.00
          Total              2,269,824        $193,845,595.70

ITEM 2. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. 

Item 2 is hereby amended and supplemented by adding thereto the
following:

     The total funds required by Con Edison to purchase shares
pursuant to the Offer was $193,845,595.70, excluding fees and
other expenses.  On March 6, 1996, Con Edison applied
$193,845,595.70 of the net proceeds from the sale of its $275
million aggregate principal amount of its 7 3/4% Quarterly Income
Capital Securities (Series A Subordinated Deferrable Interest
Debentures) to pay for the purchase of shares pursuant to the
Offer.

ITEM 9. MATERIAL TO BE FILED AS EXHIBITS. 

Item 9 is hereby amended and supplemented by adding the following

EXHIBIT NO.      DESCRIPTION 
99.(a)(9)(i)     Press Release, dated February 27, 1996. 

99.(a)(9)(ii)    Press Release, dated February 29, 1996. 

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                             SIGNATURE 

  After due inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct. 

Dated: March 7, 1996         Consolidated Edison Company of
                                   New York, Inc.


                                By:  RAYMOND J. MCCANN
                                     Raymond J. McCann
                                     Executive Vice President and
                                       Chief Financial Officer

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                                          FOR IMMEDIATE RELEASE
                                          AT 3:00 PM, E.S.T.
                                          FEBRUARY 27, 1996


               CON EDISON TERMINATES TENDER OFFER FOR
               $5 CUMULATIVE PREFERRED STOCK; OFFER FOR
               OTHER SERIES TO EXPIRE AT 5 PM TODAY         


     Consolidated Edison Company of New York, Inc. (NYSE: ED)
announced at 3:00 PM, New York City Time, today that it had
terminated, in accordance with its terms, the tender offer
commenced by Con Edison on January 29, 1996, with respect to Con
Edison's $5 Cumulative Preferred Stock (no par value).

     The January 29, 1996 tender offer also includes six other
series of Con Edison preferred stock.  The termination with
respect to the $5 Cumulative Preferred Stock does not affect the
offer for the other series, which remains in effect and will
expire by its terms at 5:00 PM, New York City Time, today.



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                                            FOR IMMEDIATE RELEASE
                                            February 29, 1996


      CON EDISON TO REFUND $317 MILLION OF ITS PREFERRED STOCK


     Consolidated Edison Company of New York, Inc. (NYSE: ED)
announced that it is making a public offering today of $275
million of its 7 3/4% Quarterly Income Capital Securities (Series
A Subordinated Deferrable Interest Debentures).  The proceeds of
the offering will be applied, along with other funds of the
Company, to refund approximately $317 million of the Company's
outstanding preferred stock.  The Capital Securities are being
offered through underwriters pursuant to a registration statement
that has been filed with the Securities and Exchange Commission
and declared effective.  The managing underwriters for the
offering are Lehman Brothers, Dean Witter Reynolds Inc., A. G.
Edwards & Sons, Inc., Merrill Lynch, PaineWebber Incorporated,
Prudential Securities Incorporated and Smith Barney.  Copies of
the prospectus for the offering may be obtained from Lehman
Brothers, 3 World Financial Center, New York, New York 10285.

     The preferred stock to be refunded includes an estimated
$227 million aggregate par value of the series of the Company's
Cumulative Preferred Stock ($100 par value) listed below which
was tendered by shareholders pursuant to the Company's Offer to
Purchase, dated January 29, 1996, and subject to the terms and
conditions of the Offer is to be purchased by the Company.  The
period for tendering such preferred stock pursuant to the Offer
expired at 5:00 p.m., New York City time, on February 27, 1996. 
Stock tendered pursuant to the Offer's guaranteed delivery
procedure ("Protects") must be received by the Depositary no
later than 5:00 p.m., New York City time, on March 1, 1996.

  SERIES         OUTSTANDING       SHARES TENDERED          
OF PREFERRED      SHARES     GOOD ORDER   PROTECTS    TOTAL

5 3/4%  Series A  600,000     519,796    10,100     529,896
5 1/4%  Series B  750,000     609,415     2,150     611,565
4.65 %  Series C  600,000     304,849   141,630     446,479
4.65 %  Series D  750,000     526,862       550     527,412
7.20 %  Series I  500,000      25,000        --      25,000
6 1/8%  Series J  500,000     129,500        --     129,500


                                               more ....... 
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     The balance of the preferred stock to be refunded is $90
million of preferred stock which the Company today called for
redemption on March 30, 1996.  The series of the Company's
preferred stock to be redeemed are:

     -  500,000 shares of Cumulative Preferred Stock, 5 3/4%
        Series E  ($100 par value) at a redemption price of
        $101.00 per share plus an amount equal to dividends
        accrued from February 1, 1996 to, but not including,
        March 30, 1996, for a total of $101.93 per share.

     -  400,000 shares of Cumulative Preferred Stock, 6.20%
        Series F ($100 par value) at a redemption price of
        $102.50 per share plus an amount equal to dividends
        accrued from February 1, 1996 to, but not including,
        March 30, 1996, for a total of $103.50 per share.

     Shares of the Series E and Series F stock should be
surrendered for redemption by mail to Con Edison, P.O. Box 149,
Cooper Station, New York, NY  10003, or by hand delivery to Con
Edison Disbursement Services, Four Irving Place, Room 249-S, New
York, NY  10003.






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