BANK OF NEW YORK &lt;BK> TO HAVE GAIN ON UNIT SALE

  Bank of New York Co said it and the
  management of RMJ Securities Corp have agreed to sell 80 pct of
  their interests in RMJ Holding Corp to &lt;British and
  Commonwealth Holdings PLC> and Bank of New York expects to
  realize a substantial gain on the transaction.
      RMJ Holding is the holding company for RMJ Securities, a
  large broker of U.S. government securities and agency
  obligations  Bank of New York owns a majority interest in RMJ
  Holding and management of RMJ Securities the remainder.
      Bank of New York said the sale is expected to be completed
  during the second quarter.
      It said it and RMJ Securities management will continue to
  own 20 pct of RMJ Holding for now, but the agreement provides
  for the sale of that remaining interest to British and
  Commonwealth over the next six years.
  

