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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

J P MORGAN CHASE & CO 		2. Issuer Name and Ticker or Trading Symbol

BEAR STEARNS COMPANIES INC [ BSC ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

270 PARK AVENUE 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/29/2008
(Street)

NEW YORK, NY 10017
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   5/29/2008     X    1300   A $60   119060475   D   (1)  
Common Stock   5/29/2008     X    800   A $100   119061275   D   (1)  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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 to Sell Common Stock (Short Position)   $60   5/29/2008     X        1300    4/7/2008   1/15/2010   Common Stock   1300   $60   12500   I   by subsidiary  
Options to Sell Common Stock (Short Position)   $100   5/29/2008     X        800    4/7/2008   1/15/2010   Common Stock   800   $100   8300   I   by subsidiary  
Option to Buy Common Stock (Short Position)   $110   5/30/2008     P        168900    4/7/2008   1/16/2010   Common Stock   168900   $.01   0   I   by subsidiary  
Option to Buy Common Stock (Short Position)   $100   5/30/2008     P        590700    4/7/2008   1/17/2009   Common Stock   590700   $.01   0   I   by subsidiary  
Option to Buy Common Stock (Short Position)   $105   5/30/2008     P        205600    4/7/2008   1/17/2009   Common Stock   205600   $.01   0   I   by subsidiary  
Option to Buy Common Stock (Short Position)   $110   5/30/2008     P        608500    4/7/2008   1/17/2009   Common Stock   608500   $.01   0   I   by subsidiary  
$183,000 Reverse Exchangeables Notes     (2) 5/30/2008     J  (2)       0   (2)     (2) 5/30/2008   See footnote   (2)   (2) $0   0   I   by subsidiary  

Explanation of Responses:
( 1)  Includes the indirect beneficial ownership of 2,100 shares owned by J.P. Morgan Whitefriars Inc., a wholly owned subsidiary of the Reporting Person.
( 2)  Pursuant to the terms of these Notes, the Reporting Person was obligated to deliver on the expiration date the number of shares of common stock of the Issuer ("Common Stock") equal to $183,000 divided by $147.55, plus accrued unpaid interest, or the cash value thereof. The Notes were settled as of May 30, 2008 by delivering $71.74 in cash per $1,000 principal amount of the Notes.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
J P MORGAN CHASE & CO
270 PARK AVENUE
NEW YORK, NY 10017
X


Signatures
/s/ Anthony J. Horan 6/2/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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