UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Towers, John R.
225 Franklin Street
Boston, MA 02110
2. Issuer Name and Ticker or Trading Symbol
State Street Corporation
STT
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
11/01/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President, General Counsel and Secretary
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |4/16/9|A |V|2,000 |A | | | | |
|7 | | | | | | | | |
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Common Stock |10/23/|G |V|155 |A | |2,155* |D | |
|97 | | | | | | | | |
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| | | | | | |1,689* |I |401(k) Plan |
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Employee Stock Option |36.625* |2/20/|A** |V|20,000* |A |12/19|2/19/|Common Stock|20,000*| |20,000* | | |
(right to buy) | |97 | | | | |/97- |07 | | | | | | |
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| | | | | | |12/19| | | | | | | |
| | | | | | |/99 | | | | | | | |
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Employee Stock Option |18.6250*|9/15/| | | | |9/14/|9/14/|Common Stock|10,000*| | | | |
(right to buy) | |94 | | | | |99 |04 | | | | | | |
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Employee Stock Option |26.40625|6/20/| | | | |6/19/|6/19/|Common Stock|10,000*| | | | |
(right to buy) |* |96 | | | | |01 |06 | | | | | | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
* Reflects two-for-one stock
split.
** Employee stock option granted pursuant to State Street Corporation 1997
Equity Incentive Plan exercisable in 33
1/3% installmens over a three-year period commencing
12/19/97.
SIGNATURE OF REPORTING PERSON
/s/John R. Towers
DATE
11/12/97
