FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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 *   CHOW JOSEPH W 2. Date of Event Requiring Statement (Month/Day/Year) 01/03/2005 3. Issuer Name and Ticker or Trading Symbol STATE STREET CORP [STT] (Last) (First) (Middle) STATE STREET CORPORATION, ONE LINCOLN STREET 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP, Chief Risk & Corp. Admin. 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) BOSTON, MA 02111 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 Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 8,414 D   Common Stock 4,013 I 401(k) Plan (1) Common Stock 1,000 I By a family member (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	06/20/2001	06/21/2006	Common Stock	8,000	$ 13.2031	D	Â
Employee Stock Option (right to buy)	  (3)	12/20/2006	Common Stock	24,000	$ 15.875	D	Â
Employee Stock Option (right to buy)	  (4)	12/18/2008	Common Stock	38,400	$ 33.7187	D	Â
Employee Stock Option (right to buy)	  (5)	12/17/2009	Common Stock	50,000	$ 34.6406	D	Â
Employee Stock Option (right to buy)	  (6)	12/22/2010	Common Stock	38,400	$ 60.7375	D	Â
Employee Stock Option (right to buy)	  (7)	12/21/2011	Common Stock	51,500	$ 51.975	D	Â
Employee Stock Option (right to buy)	02/21/2004	02/22/2012	Common Stock	7,200	$ 49.705	D	Â
Employee Stock Option (right to buy)	  (8)	12/19/2012	Common Stock	40,000	$ 40.22	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
CHOW JOSEPH W STATE STREET CORPORATION ONE LINCOLN STREET BOSTON, MA 02111	Â	Â	  EVP, Chief Risk & Corp. Admin.	Â

Signatures

Joseph W. Chow		01/13/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(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 reporting person indirectly beneficially owns 4,013 shares of State Street common stock through State Street Corporation's 401(k) plan, as of December 31, 2004. The plan accounts for interest in units of shares and a small amount of cash. As a result the number of underlying shares may fluctuate from time to time.
(2)	Shares held in an IRA account by a member of Mr. Chow's family with respect to which Mr. Chow disclaims beneficial ownership of any such shares.
(3)	Options become exercisable in 33 1/3% installments over a three-year period commencing on December 19, 1997.
(4)	Options become exercisable in 33 1/3% installments over a three-year period commencing on December 17, 1999.
(5)	Options become exercisable in 33 1/3% installments over a three-year period commencing on December 16, 2000.
(6)	Options become exercisable in 33 1/3% installments over a three-year period commencing on December 21, 2001.
(7)	Options become exercisable in 33 1/3% installments over a three-year period commencing on December 20, 2002.
(8)	Options become exercisable in 33 1/3% installments over a three-year period commencing on December 19, 2004.

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