Series I. Stephen Phillips (1761-1838) Papers includes ships' papers, shipping and business papers, and civic and personal papers extending from 1783 to 1838. Subseries A. Ships' Papers, arranged alphabetically by ship, are comprised of documents relating to vessels owned, mastered, or chartered by Stephen Phillips. Included are insurance papers, account books, accounts, memorials, and correspondence with ship masters and merchants regarding specific ships. Of particular interest are the papers of the schooners Joseph, Margaret, Mary, and the brig Sukey, which contain the memorials of Stephen Phillips concerning the capture of these vessels by French privateers.

Subseries B. Shipping and Business Papers includes documents relating to more than one ship, correspondence, accounts, and insurance papers. Financial materials relating to Stephen's partners Henry Prince and Nathan Peirce (Phillips' brother-in-law) are also found in this section. Many of these papers are prices current with personal holograph notes to Phillips on the inside leaves. These papers were used as sources of current market prices for various goods in specific ports, however they also document the impacts of military action upon maritime commerce.

According to James Duncan Phillips (see bibliography), Stephen Clarendon took charge of his father's shipping business in 1821. All shipping and business papers dated previous to 1821 have been retained with the Stephen Phillips Papers, while those generated after 1820 have been included in the Stephen Clarendon Phillips Papers.

Subseries C. Civic Papers contains some correspondence and memoranda, though the bulk is comprised of bills and receipts from the building of Phillips' house on Chestnut Street in Salem (1804-1805). Also included are bills of sale and receipts for pews from the Independent Congregational Church. Another item of interest is Phillips' lesson book (1783), which contains case studies and problems in practical navigation.