Pricing Supplement Dated March 5, 1999 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.
Subordinated Medium-Term Notes Series C
(U.S. $ Fixed Rate)
_________________________________________________________________
Trade Date: March 5, 1999 Original Issue Date: April 1, 1999
Principal Amount: $32,900,000 Net Proceeds to Issuer: $12,705,631
Issue Price: 38.62% Agent's Capacity:
Selling Agent's x Principal Basis Agency Basis
Commission/Discount: 0.00%
Interest Rate: 6.4445% per annum Interest Payment Dates: At
Maturity Date: April 1, 2014. Maturity
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 x No
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 Donaldson, Lufkin & Jenrette
Securities Corp. (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 $12,705,631.
Donaldson, Lufkin & Jenrette Securities Corp.
