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Pricing Supplement Dated May 29, 1998 Rule 424(b)(3)
(To Prospectus dated October 19, 1995 and File No. 33-61957
Prospectus Supplement dated April 2, 1998)
THE BANK OF NEW YORK COMPANY, INC.
Senior Medium-Term Notes Series B
(U.S. $ Floating Rate)
_________________________________________________________________
Trade Date: May 29, 1998 Original Issue Date: June 5, 1998
Principal Amount: $25,000,000 Net Proceeds to Issuer: $25,000,000
Issue Price: 100% Agent's Capacity:
Selling Agent's x Principal Basis Agency Basis
Commission/Discount: 0.00%
Interest Rate: 3 Month LIBOR Interest Payment Dates: Quarterly
minus 2.5 basis points on the 5th of September, December,
Maturity Date: June 5, 2000 March and June, commencing
September 5, 1998.
___________________________________________________________________
Form: x Book Entry
Certificated
Redemption:
x The Notes cannot be redeemed prior to maturity
The Notes may be redeemed prior to maturity
Initial Redemption Date: N/A
Initial Redemption Percentage: N/A
Annual Redemption Percentage Reduction: N/A
Repayment:
x The Notes cannot be repaid prior to maturity
The Notes can be repaid prior to maturity at the
option of the holder of the Notes
Optional Repayment Date: N/A
Optional Repayment Price: N/A
Discount Note: Yes No x
The covenant defeasance provisions of the Indenture described under
"Description of Debt Securities -- Defeasance and Covenant Defeasance" in
the Prospectus will apply to the Notes. The Notes described herein are
being purchased by Morgan Stanley & Co. Incorporated (the "Agent"),
as principal, on the terms and conditions described in the Prospectus
Supplement under the caption "Plan of Distribution." The Notes will be
sold to the public at varying prices relating to prevailing market prices
at the time of resale as determined by the Agent. The net proceeds to
the Company will be $25,000,000.
Morgan Stanley & Co. Incorporated
