Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MONKS DONALD R
  2. Issuer Name and Ticker or Trading Symbol
BANK OF NEW YORK CO INC [BK]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
ViceChairThe Bank of New York
(Last)
(First)
(Middle)
ONE WALL STREET
3. Date of Earliest Transaction (Month/Day/Year)
10/24/2006
(Street)

NEW YORK, NY 10286
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock (Par Value $7.50) 10/24/2006   M   74,204 A $ 17.25 543,280.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   2,200 D $ 33.5 541,080.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   2,500 D $ 33.518 538,580.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   1,700 D $ 33.54 536,880.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   1,300 D $ 33.59 535,580.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   2,900 D $ 33.6 532,680.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   1,804 D $ 33.631 530,876.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   4,200 D $ 33.64 526,676.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   1,600 D $ 33.65 525,076.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   2,000 D $ 33.66 523,076.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   11,300 D $ 33.67 511,776.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   1,400 D $ 33.671 510,376.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   4,500 D $ 33.68 505,876.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   4,900 D $ 33.69 500,976.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   3,900 D $ 33.7 497,076.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   3,700 D $ 33.71 493,376.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   500 D $ 33.72 492,876.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   700 D $ 33.726 492,176.71 D  
Common Stock (Par Value $7.50) 10/24/2006   S(1)   5,600 D $ 33.73 486,576.71 (2) D  
Common Stock (Par Value $7.50)               0 (3) I Daughter-Laura
Common Stock (Par Value $7.50)               0 (4) I Son-Brian

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options $ 17.25 10/24/2006   M     74,204 01/14/1998 01/14/2007 Common Stock (Par Value $7.50) 74,204 $ 17.25 1,490,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MONKS DONALD R
ONE WALL STREET
NEW YORK, NY 10286
      ViceChairThe Bank of New York  

Signatures

 Donald R. Monks   10/25/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The sale is being made pursuant to a Rule 10b5-1 Sales Plan, adopted on August 3, 2006.
(2) As of September 30, 2006, reporting person indirectly owns 82,624.564 stock units in employer's stock fund in The Bank of New Yor k Company, Inc. Employee Savings and Investment Plan, a 401(k) Plan, formerly the Profit Sharing Plan.
(3) The reporting person no longer has a reportable beneficial interest in 1,717 shares of The Bank of New York Company, Inc. common stock owned by daughter, Laura, and included in the reporting person's prior ownership reports.
(4) The reporting person no longer has a reportable, beneficial interest in 1,718.9580 shares of common stock of The Bank of New York Company, Inc. owned by son, Brian, and included in the reporting person's prior ownership reports.
 
Remarks:
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