MUNICIPAL FUND FOR NEW YORK INVESTORS INC
40-17F2, 1998-03-31
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March 31, 1998


U.S. Securities and Exchange Commission
Attn: Filing Desk
450 5th Street, N.W.
Washington, DC  20549


RE: Form 17f-2 for Municipal Fund for New York Investors, Inc. 
    File No. 811-3678


Dear Gentlemen and Ladies:

Pursuant to Rule 17f-2 of the Investment Company Act of 1940, the above
referenced Fund hereby files its Form N-17f-2.

We will obtain confirmation of this filing via our CompuServe account,
72741,733.  If there are any questions on this filing I can be reached at
(302) 791-1170.


Very truly yours,

Theresa M. Thompson





                             UNITED STATES
                   SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549

                              FORM N-17f-2

            Certificate of Accounting of Securities and Similar
                      Investments in the Custody of
                     Management Investment Companies

                 Pursuant to Rule 17f-2 [17 CFR 270.17f-2]

1.   Investment Company Act Rule Number:

     811-3678

2.   State identification Number:   SEE ATTACHED

3.   Exact name of investment company as specified in registration statement:

     Municipal Fund for New York Investors, Inc. 

4.   Address of principal executive office (number, street, city, state,
     Zip code):

     400 Bellevue Parkway
     Wilmington, DE 19809






To the Board of Directors of the Municipal Fund for New York Investors,
Inc.:

We have examined the investment accounts shown by the books and records of
Municipal Fund for New York Investors, Inc. (consisting of the New York
Money Fund) as of May 19, 1997.   The date of our last similar examination
was September 19, 1996. Our examination was performed in accordance with
Rule 17f-2 of the Investment Company Act of 1940, as amended, and made
without prior notice to the Fund. It is understood that this report is
solely for the use of management and the Securities and Exchange Commission
and should not be used for any other purpose.

Securities owned as of the close of business on May 19, 1997, shown by the
books and records audited by us, were held in book entry form by the
Federal Reserve Bank or Depository Trust Company, or located at
depositories or sub-custodians, or purchased but not received or out for
transfer on that date, as to which we obtained confirmation from the
depositories, sub-custodians, brokers or transfer agents, respectively, or
performed other procedures as we considered necessary in the circumstances.
No securities were in the possession of the custodian, PNC Bank, National
Association on May 19, 1997. 

Because the above procedures do not constitute an audit made in accordance
with generally accepted auditing standards, we do not express an opinion
on the investment accounts referred to above.  In connection with the
procedures referred to above, no matters came to our attention that caused
us to believe that the specified accounts should be adjusted.  Had we
performed additional procedures or had we audited the financial statements
in accordance with generally accepted auditing standards, matters might
have come to our attention that would have been reported to you. This
report relates only to the investments specified above and does not extend
to any financial statements of the Municipal Fund for New York Investors,
Inc. taken as a whole.

COOPERS & LYBRAND L.L.P.

2400 Eleven Penn Center
Philadelphia, Pennsylvania
May 29, 1997





To the Board of Directors of the Municipal Fund for New York Investors,
Inc.:

We have examined the investment accounts shown by the books and records of
Municipal Fund for New York Investors, Inc. (consisting of the New York
Money Fund) as of July 18, 1997.   The date of our last similar examination
was May 19, 1997. Our examination was performed in accordance with Rule
17f-2 of the Investment Company Act of 1940, as amended, and made without
prior notice to the Fund. It is understood that this report is solely for
the use of management and the Securities and Exchange Commission and should
not be used for any other purpose.

Securities owned as of the close of business on July 18, 1997, shown by the
books and records audited by us, were held in book entry form by the
Federal Reserve Bank or Depository Trust Company, or located at
depositories or sub-custodians, or purchased but not received or out for
transfer on that date, as to which we obtained confirmation from the
depositories, sub-custodians, brokers or transfer agents, respectively, or
performed other procedures as we considered necessary in the circumstances.
No securities were in the possession of the custodian, PNC Bank, National
Association on July 18, 1997. 

Because the above procedures do not constitute an audit made in accordance
with generally accepted auditing standards, we do not express an opinion on
the investment accounts referred to above.  In connection with the
procedures referred to above, no matters came to our attention that caused
us to believe that the specified accounts should be adjusted.  Had we
performed additional procedures or had we audited the financial statements
in accordance with generally accepted auditing standards, matters might
have come to our attention that would have been reported to you. This
report relates only to the investments specified above and does not extend
to any financial statements of the Municipal Fund for New York Investors,
Inc. taken as a whole.

COOPERS & LYBRAND L.L.P.

2400 Eleven Penn Center
Philadelphia, Pennsylvania
August 1, 1997





To the Board of Directors of the Municipal Fund for New York Investors,
Inc.:

We have examined the investment accounts shown by the books and records of
Municipal Fund for New York Investors, Inc. (consisting of the New York
Money Fund) as of August 28, 1997.   The date of our last similar
examination was July 18, 1997. Our examination was performed in accordance
with Rule 17f-2 of the Investment Company Act of 1940, as amended, and made
without prior notice to the Fund. It is understood that this report is
solely for the use of management and the Securities and Exchange Commission
and should not be used for any other purpose.

Securities owned as of the close of business on August 28, 1997, shown by
the books and records audited by us, were held in book entry form by the
Federal Reserve Bank or Depository Trust Company, or located at
depositories or sub-custodians, or purchased but not received or out for
transfer on that date, as to which we obtained confirmation from the
depositories, sub-custodians, brokers or transfer agents, respectively, or
performed other procedures as we considered necessary in the circumstances.
No securities were in the possession of the custodian, PNC Bank, National
Association on August 28, 1997. 

Because the above procedures do not constitute an audit made in accordance
with generally accepted auditing standards, we do not express an opinion on
the investment accounts referred to above.  In connection with the
procedures referred to above, no matters came to our attention that caused
us to believe that the specified accounts should be adjusted.  Had we
performed additional procedures or had we audited the financial statements
in accordance with generally accepted auditing standards, matters might
have come to our attention that would have been reported to you. This
report relates only to the investments specified above and does not extend
to any financial statements of the Municipal Fund for New York Investors,
Inc. taken as a whole.

COOPERS & LYBRAND L.L.P.

2400 Eleven Penn Center
Philadelphia, Pennsylvania
September 12, 1997




PFPC, INC.                                            REV: 09/11/97
BLUE SKY DEPARTMENT 

MUNICIPAL FUND FOR NEW YORK INVESTORS, INC.
BLUE SKY REGISTRATION CHART
                                                         FYE:07/31



STATE        REGISTRATION PERIOD  REGISTRATION AMOUNT   PERMIT #


CT        
NY MUNI       01/01/98-12/31/98       INDEFINITE         SI19324

HI
NY MUNI       08/01/97-07/31/98       INDEFINITE          ------

NY
NY MUNI FUND  07/19/95-07/19/99       INDEFINITE       S-20-48-52




Fund Codes:

NY MUNI FUND:  NYMF
NY MUNI CLASS/DL:  NYMFD
NY MUNI CLASS/PLUS: NYMFP
NY MUNI CLASS/SH:  NYMFS




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