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Guide to the Ira M. Millstein Papers
1975-2016 (bulk, 1975-1976)
 MS 3020

New-York Historical Society
170 Central Park West
New York, NY 10024
(212) 873-3400


New-York Historical Society

Collection processed by Larry Weimer

This finding aid was produced using ArchivesSpace on February 19, 2021 using Describing Archives: A Content Standard

Scope and Contents Note

The collection includes documents related primarily to certain legal aspects of New York City's near-default on its obligations in 1975 and to the subsequent investigation of the city by the Securities and Exchange Commission (SEC). The collection includes the petition of 17 October 1975 submitted by the city to the state Supreme Court, the resulting court order that positioned New York to declare it was defaulting that day (an action that was narrowly averted), and the text of Mayor Beame's prepared, but never used, announcement of the default. The collection includes legal analyses, memoranda and other documents from 1975-1976 related to the possibility and implications of a default by New York. The collection includes memoranda concerning some aspects of the SEC's investigation, such as jurisdictional matters. The collection also holds copies of proposed legislation from 1975 relating to the state's financial emergency act and of various published articles, primarily from law journals, concerning the crisis from a legal perspective.

Arrangement Note

The collection is arranged roughly by document type and chronology.