NOTES TO FINANCIAL STATEMENTS
1. GENERAL INFORMATION AND SIGNIFICANT ACCOUNTING POLICIES
At March 31, 1997, the New York Funds (the "Funds") covered in this report and their corresponding New
York Stock Exchange symbols are Nuveen New York Municipal Value Fund, Inc. (NNY), Nuveen New York
Performance Plus Municipal Fund, Inc. (NNP), Nuveen New York Investment Quality Municipal Fund, Inc.
(NQN), Nuveen New York Select Quality Municipal Fund, Inc. (NVN), Nuveen New York Quality Income
Municipal Fund, Inc. (NUN) and Nuveen Insured New York Premium Income Municipal Fund, Inc. (NNF).
NNY is not authorized by its Articles of Incorporation to issue Preferred shares, therefore, in the Notes to
Financial Statements "N/A" represents not-applicable.
Each Fund invests primarily in a diversified portfolio of municipal obligations issued by state and local government
authorities within the state of New York. The Funds are registered under the Investment Company Act of 1940
as closed-end, diversified management investment companies.
On January 8, 1996, NNY acquired all of the net assets of Nuveen New York Municipal Income Fund, Inc.
(NNM) pursuant to a plan of reorganization approved by the shareholders of NNM on November 16, 1995.
The acquisition was accomplished by a tax-free exchange of 2,770,666 shares of NNY for the 2,521,957 shares
of NNM outstanding on January 8, 1996. NNM's net assets at that date of $28,973,267 included $2,191,385
of net unrealized appreciation which were combined with that of NNY. The combined net assets on NNY
immediately after the acquisition were $154,177,791.
The following is a summary of significant accounting policies followed by the Funds in the preparation of their
financial statements in accordance with generally accepted accounting principles.
The prices of municipal bonds in each Fund's investment portfolio are provided by a pricing service approved
and supervised by the Fund's Board of Directors. When price quotes are not rea