EXHIBIT 14(b)
 
                        CONSENT OF INDEPENDENT AUDITORS


We consent to the reference to our firm under the captions "The
Reorganization-Comparison of the Funds-Financial Highlights," "Selection of 
Independent Auditors" and "Experts" and to the use of our report on Taurus
MuniNewYork Holdings, Inc. dated November 25, 1996, in Pre-Effective Amendment 
No. 1 to the Registration Statement on Form N-14 under the Securities Act of 
1933 (File No. 333-33759) and under the Investment Company Act of 1940 (File No.
811-6661) and related Joint Proxy Statement and Prospectus of MuniYield New 
York Insured Fund II, Inc.



                                /s/ Ernst & Young LLP
         
                                    Ernst & Young LLP

Princeton, New Jersey
September 11, 1997