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
Shelton, Stanley W.
State Street Corporation
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
12/1/1999
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
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>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
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)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock |12/1/9|J(1)| |1,204 |D |72.375 |8,806 |D | |
|9 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
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)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock (Employee|18.6250 |2/17/| | | | |2/17/|2/16/|Common Stock|2,952 | | | | |
Stock Option) | |94 | | | | |99 |04 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (Employee|16.2500 |2/16/| | | | |2/16/|2/15/|Common Stock|3,076 | | | | |
Stock Option) | |95 | | | | |00 |05 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (Employee|31.7500 |2/19/| | | | |12/19|12/18|Common Stock|15,210 | | | | |
Stock Option) | |96 | | | | |/97- |/06 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | |12/19| | | | | | | |
| | | | | | |/01 | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (Employee|56.2500 |12/18| | | | |12/18|12/17|Common Stock|8,500 | | | | |
Stock Option) | |/97 | | | | |/98- |/07 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | |12/18| | | | | | | |
| | | | | | |/00 | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (Employee|67.4375 |12/17| | | | |12/17|12/16|Common Stock|38,500 | | | | |
Stock Option) | |/98 | | | | |/99- |/08 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | |12/17| | | | | | | |
| | | | | | |/01 | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock (Employee|72.9688 |2/18/| | | | |2/18/|2/17/|Common Stock|6,000 | | | | |
Stock Option) | |99 | | | | |00- |09 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | |2/18/| | | | | | | |
| | | | | | |02 | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
(1) Payment of tax liability by remitting shares incident to the vesting of
restricted stock awards.
SIGNATURE OF REPORTING PERSON
/s/Stanley W. Shelton
DATE
12/20/99
