<?xml version="1.0" encoding="utf-8"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
  <periodOfReport>2003-09-23</periodOfReport>
  <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000074273</issuerCik>
        <issuerName>OLD STONE CORP</issuerName>
        <issuerTradingSymbol>OSTN</issuerTradingSymbol>
  </issuer>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001230504</rptOwnerCik>
            <rptOwnerName>MANTICORE PROPERTIES II LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001264722</rptOwnerCik>
            <rptOwnerName>GOTHAM HOLDINGS III LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001056513</rptOwnerCik>
            <rptOwnerName>ACKMAN WILLIAM A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001056511</rptOwnerCik>
            <rptOwnerName>BERKOWITZ DAVID P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001252811</rptOwnerCik>
            <rptOwnerName>MANTPRO LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000899983</rptOwnerCik>
            <rptOwnerName>GOTHAM PARTNERS LP /NY/</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001067815</rptOwnerCik>
            <rptOwnerName>GOTHAM PARNERS III L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001078726</rptOwnerCik>
            <rptOwnerName>GOTHAM INTERNATIONAL ADVISORS LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001251931</rptOwnerCik>
            <rptOwnerName>GOTHAM HOLDINGS II  LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001049558</rptOwnerCik>
            <rptOwnerName>MANTICORE PROPERTIES LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>110 EAST 42ND STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>0</isOfficer>
      <isTenPercentOwner>1</isTenPercentOwner>
      <isOther>0</isOther>
    </reportingOwnerRelationship>
  </reportingOwner>
  <nonDerivativeTable>
    <nonDerivativeTransaction>
      <securityTitle>
        <value>Preferred Stock</value>
      </securityTitle>
      <transactionDate>
        <value>2003-09-23</value>
      </transactionDate>
      <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>P</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
        <value></value>
      </transactionTimeliness>
      <transactionAmounts>
        <transactionShares>
          <value>1700</value>
        </transactionShares>
        <transactionPricePerShare>
          <value>14.05</value>
        </transactionPricePerShare>
        <transactionAcquiredDisposedCode>
          <value>A</value>
        </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
        <sharesOwnedFollowingTransaction>
          <value>557891</value>
        </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
        <directOrIndirectOwnership>
          <value>I</value>
        </directOrIndirectOwnership>
        <natureOfOwnership>
          <value>See Exhibit 99.1</value>
        </natureOfOwnership>
      </ownershipNature>
    </nonDerivativeTransaction>
    <nonDerivativeTransaction>
      <securityTitle>
        <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
        <value>2003-09-25</value>
      </transactionDate>
      <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>P</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
        <value></value>
      </transactionTimeliness>
      <transactionAmounts>
        <transactionShares>
          <value>10000</value>
        </transactionShares>
        <transactionPricePerShare>
          <value>1.07</value>
        </transactionPricePerShare>
        <transactionAcquiredDisposedCode>
          <value>A</value>
        </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
        <sharesOwnedFollowingTransaction>
          <value>3118631</value>
        </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
        <directOrIndirectOwnership>
          <value>I</value>
        </directOrIndirectOwnership>
        <natureOfOwnership>
          <value>See Exhibit 99.1</value>
        </natureOfOwnership>
      </ownershipNature>
    </nonDerivativeTransaction>
  </nonDerivativeTable>
  <ownerSignature>
    <signatureName>/s/ William A. Ackman, by power of attorney</signatureName>
    <signatureDate>2003-09-26</signatureDate>
  </ownerSignature>
</ownershipDocument>

