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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1. Name and Address of Reporting Person * HASSELL GERALD L   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) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President (Last) (First) (Middle) THE BANK OF NEW YORK, ONE WALL STREET 3. Date of Earliest Transaction (Month/Day/Year) 08/01/2006 (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) 05/12/2006   G   8,000 D $ 34.27 674,595.53 D   Common Stock (Par Value $7.50) 08/01/2006   M   28,534 A $ 17.25 703,129.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,000 D $ 33.27 702,129.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   300 D $ 33.28 701,829.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,800 D $ 33.29 700,029.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,300 D $ 33.3 698,729.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,200 D $ 33.31 697,529.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   200 D $ 33.34 697,329.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   2,400 D $ 33.35 694,929.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   500 D $ 33.36 694,429.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   500 D $ 33.37 693,929.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,100 D $ 33.38 692,829.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   3,789 D $ 33.39 689,040.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   11 D $ 33.4 689,029.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   700 D $ 33.41 688,329.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   700 D $ 33.42 687,629.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,500 D $ 33.43 686,129.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   2,100 D $ 33.44 684,029.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   2,800 D $ 33.45 681,229.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,900 D $ 33.46 679,329.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,200 D $ 33.47 678,129.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,434 D $ 33.49 676,695.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   800 D $ 33.53 675,895.53 D   Common Stock (Par Value $7.50) 08/01/2006   S(1)   1,300 D $ 33.54 674,595.53 (2) (3) D   Common Stock (Par Value $7.50)               29,672 (4) I by GRAT Common Stock (Par Value $7.50)               60,000 (5) I Held by Spouse-Agnes Common Stock (Par Value $7.50)               28,927 I (6) Held by family trust Common Stock (Par Value $7.50)               28,927 I (6) Held by second family trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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

08/01/2006

M

28,534

01/14/1998

01/14/2007

Common Stock (Par Value $7.50)

28,534

$ 17.25

1,938,430

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HASSELL GERALD L THE BANK OF NEW YORK ONE WALL STREET NEW YORK, NY 10286	X		President

Signatures

Gerald L. Hassell		08/02/2006
**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 May 1, 2006.
(2)	21,946 of these shares have been previously reported as beneficially owned but had been held by a grantor retained annuity trust until May 26, 2006.
(3)	As of June 30, 2006, reporting person held indirectly 231,410.025 stock units in employer's stock fund in The Bank of New York Co mpany, Inc. Employee Savings and Investment Plan, a 401(k) Plan, formerly the Profit Sharing Plan.
(4)	These shares were previously reported as directly beneficially owned but were contributed to a grantor retained annuity trust on May 27, 2004.
(5)	Reporting person disclaims beneficial ownership of these securities.
(6)	Contribution of shares to a family trust. Reporting person has the right to reacquire the shares by substituting other property of equal value.

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