Pricing Supplement Dated March 31, 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 31, 1999 Original Issue Date: April 20, 1999
Principal Amount: $49,800,000 Net Proceeds to Issuer: $19,255,000
Issue Price: 38.66% Agent's Capacity:
Selling Agent's x Principal Basis Agency Basis
Commission/Discount: 0.00%
Interest Rate: 6.45% per annum Interest Payment Dates: At
Maturity Date: April 14, 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 re-sold 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
$19,255,000.
Donaldson, Lufkin & Jenrette Securities Corp.
