Pricing Supplement Dated May 20, 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.
Senior Medium-Term Notes Series B
(U.S. $ Fixed Rate)
_________________________________________________________________
Trade Date: May 20, 1999 Original Issue Date: May 24, 1999
Principal Amount: $100,000,000 Net Proceeds to Issuer: $100,000,000
Issue Price: 100.00% Agent's Capacity:
Selling Agent's x Principal Basis Agency Basis
Commission/Discount: 0.00%
Interest Rate: 5.345% per annum Interest Payment Dates:
Maturity Date: May 24, 2000 At 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 Merrill Lynch & Co.
(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 $100,000,000.
Merrill Lynch & Co.
