<PAGE>
General
Money Market
Fund, Inc.
Annual Report
January 31, 1997
<PAGE>
General Money Market Fund, Inc.
- -----------------------------------------------------------------------------
Letter to Shareholders
Dear Shareholder:
<PAGE>
General Money Market Fund, Inc.
- --------------------------------------------------------------------------
Statement of Investments January 31, 1997
<TABLE>
<CAPTION>
Principal
Negotiable Bank Certificates of Deposit--28.8% Amount Value
- ------------------------------------------------------------------- -------------- --------------
<S> <C> <C>
Bank of Tokyo-Mitsubishi, Ltd. (Yankee)
5.60%-5.88%, 3/26/97-4/15/97.............................................. $ 35,000,000 $ 35,000,197
Bayerische Vereinsbank AG
5.34%, 2/24/97............................................................ 30,000,000 30,000,000
Dai-Ichi Kangyo Bank Ltd. (Yankee)
5.72%, 3/19/97............................................................ 25,000,000 25,000,000
Fuji Bank Ltd. (Yankee)
5.63%, 4/23/97............................................................ 40,000,000 40,000,000
Industrial Bank of Japan Ltd. (Yankee)
5.56%, 4/7/97............................................................. 20,000,000 20,000,000
Sanwa Bank Ltd. (London)
5.58%, 4/28/97............................................................ 9,000,000 9,000,209
Sanwa Bank Ltd. (Yankee)
5.75%, 3/19/97............................................................ 20,000,000 20,000,249
Societe Generale (Yankee)
5.57%-6.03%, 7/21/97-10/7/97.............................................. 53,000,000 53,006,286
Sumitomo Bank Ltd. (Yankee)
5.60%, 7/9/97............................................................. 15,000,000 15,000,000
SwedBank (Yankee)
5.53%-5.56%, 4/8/97-7/8/97................................................ 55,000,000 55,000,446
Union Bank of California
5.75%, 2/4/97............................................................. 25,000,000 25,000,000
-------------
TOTAL NEGOTIABLE BANK CERTIFICATES OF DEPOSIT
(cost $327,007,387)....................................................... $ 327,007,387
===============
Banker's Acceptance--2.4%
- -------------------------------------------------------------------------------
Industrial Bank of Japan Ltd. (Yankee)
5.71%, 3/19/97
(cost $27,403,917)........................................................ $ 27,600,000 $ 27,403,917
===============
Commerical Paper--14.2%
- -------------------------------------------------------------------------------
Bankers Trust New York Corp
5.47%, 10/17/97 (a)....................................................... $ 25,000,000 $ 25,000,000
Chase Manhattan Corp
5.59%, 2/21/97............................................................ 15,000,000 14,955,250
Lehman Brothers Holdings Inc
5.55%-5.78%, 4/28/97-10/3/97.............................................. 40,000,000 38,936,733
Nordbanken N.A. Inc
5.66%, 3/5/97............................................................. 17,190,000 17,104,432
Salomon Inc
5.75%, 7/7/97............................................................. 15,000,000 14,636,650
Spintab AB
5.50%, 2/19/97............................................................ 20,000,000 19,945,600
UBS Finance (DE) Inc
5.58%, 2/3/97............................................................. 30,000,000 29,990,700
---------------
TOTAL COMMERCIAL PAPER
(cost $160,569,365)....................................................... $ 160,569,365
===============
</TABLE>
<PAGE>
General Money Market Fund, Inc.
- -------------------------------------------------------------------------------
Statement of Investments (continued) January 31, 1997
<TABLE>
<CAPTION> Principal
Corporate Notes--20.1% Amount Value
- ------------------------------------------------------------------------------- ------------- --------------
<S> <C> <C>
Abbey National Treasury Services PLC
5.63%, 11/26/97 .......................................................... $ 50,000,000 $ 49,946,476
Bear Stearns Companies Inc
5.52%, 7/11/97 (a)........................................................ 20,000,000 20,000,000
5.83%, 1/13/98............................................................ 25,000,000 25,000,000
General Motors Acceptance Corp
5.04%, 2/10/97 ........................................................... 9,425,000 9,430,394
Lehman Brothers Holdings Inc
5.81%, 6/15/97 ........................................................... 10,000,000 10,056,912
Lehman Brothers Inc
5.43%, 5/15/97 ........................................................... 8,000,000 8,026,314
Merrill Lynch & Co. Inc
5.47%, 5/13/97 (a)........................................................ 15,000,000 14,999,198
Morgan Stanley Group Inc
5.54%, 7/10/97 (a)........................................................ 50,000,000 50,000,000
Paine Webber Group Inc
5.60%, 1/7/98 ............................................................ 20,000,000 20,000,000
Salomon Inc
5.69%, 11/10/97 (a)....................................................... 20,000,000 20,000,000
---------------
TOTAL CORPORATE NOTES
(cost $227,459,294)....................................................... $ 227,459,294
===============
Bank Notes--7.9%
- -------------------------------------------------------------------------------
Bank of America Illinois, Chicago
5.58%, 11/19/97........................................................... $ 25,000,000 $ 24,990,437
Bank Of America NT & SA
5.58%, 11/21/97........................................................... 25,000,000 24,988,445
PNC Bank N.A
5.48%, 5/15/97 (a)........................................................ 10,000,000 9,997,224
Society National Bank, Cleveland
5.37%, 2/14/97 (a)........................................................ 30,000,000 29,998,740
---------------
TOTAL BANK NOTES
(cost $89,974,846)........................................................ $ 89,974,846
===============
U.S. Treasury Bills--1.3%
- -------------------------------------------------------------------------------
5.23%, 3/6/97
(cost $14,931,663)........................................................ $ 15,000,000 $ 14,931,663
===============
U.S. Government Agencies--19.7%
- -------------------------------------------------------------------------------
Federal Farm Credit Banks , Floating Rate Notes
5.33%, 7/25/97 (a)........................................................ $ 10,000,000 $ 9,998,178
</TABLE>
<PAGE>
General Money Market Fund, Inc.
- -------------------------------------------------------------------------------
Statement of Investments (continued) January 31, 1997
<TABLE>
<CAPTION>
Principal
U.S. Government Agencies (continued) Amount Value
- ------------------------------------------------------------- --------------- ------------
<S> <C> <C>
Federal Home Loan Mortgage Corp., Floating Rate Notes
5.50%, 6/30/98 (a)........................................................ $ 10,700,000 $ 10,717,168
Federal National Mortgage Association, Floating Rate Notes
5.30%-5.84%, 2/18/97-5/14/98 (a).......................................... 202,000,000 202,124,560
--------------
TOTAL U.S. GOVERNMENT AGENCIES
(cost $222,839,906)....................................................... $ 222,839,906
===============
Time Deposits--4.6%
- -------------------------------------------------------------------------------
Berliner Handels-und Frankfurter Bank AG (Cayman)
5.42%, 2/3/97............................................................. $ 50,782,000 $ 50,782,000
Westdeutsche Landesbank Girozentrale (Cayman)
5.44%, 2/3/97............................................................. 1,554,000 1,554,000
---------------
TOTAL TIME DEPOSITS
(cost $52,336,000)........................................................ $ 52,336,000
===============
TOTAL INVESTMENTS
(cost $1,122,522,378)............................................. 99.0% $1,122,522,378
======= ================
CASH AND RECEIVABLES (NET)........................................... 1.0% $ 10,801,920
======= ===============
NET ASSETS.......................................................... 100.0% $1,133,324,298
======= ===============
<FN>
Notes to Statement of Investments:
- ------------------------------------------------------------------------------
(a) Variable interest rate subject to periodic change.
</TABLE>
See notes to financial statements.
<PAGE>
General Money Market Fund, Inc.
- -------------------------------------------------------------------------------
Statement of Assets and Liabilities January 31, 1997
<TABLE>
<CAPTION>
Cost Value
--------------- ---------------
<S> <C> <C> <C>
ASSETS: Investments in securities--See Statement of Investments $1,122,522,378 $1,122,522,378
Cash............................................. 993,943
Interest receivable.............................. 10,552,346
Prepaid expenses and other assets................ 132,422
---------------
1,134,201,089
---------------
LIABILITIES: Due to The Dreyfus Corporation and affiliates.... 269,298
Due to Distributor............................... 276,766
Accrued expenses and other liabilities........... 330,727
---------------
876,791
---------------
NET ASSETS..................................................................... $1,133,324,298
===============
REPRESENTED BY: Paid-in capital.................................. $1,133,351,059
Accumulated net realized gain (loss) on investments (26,761)
---------------
NET ASSETS..................................................................... $1,133,324,298
===============
</TABLE>
NET ASSET VALUE PER SHARE
---------------------------
<TABLE>
<CAPTION>
Class A Class B
------- -------
<S> <C> <C>
Net Assets...................................................................... $764,118,864 $369,205,434
Shares Outstanding.............................................................. 764,141,625 369,209,434
NET ASSET VALUE PER SHARE....................................................... $1.00 $1.00
====== ======
</TABLE>
See notes to financial statements.
<PAGE>
General Money Market Fund, Inc.
- -----------------------------------------------------------------------------
Statement of Operations Year Ended January 31, 1997
<TABLE>
INVESTMENT INCOME
<S> <C> <C> <C>
INCOME Interest Income.................................. $58,723,751
EXPENSES: Management fee--Note 2(a)......................... $5,285,812
Distribution fees--Note 2(b)...................... 2,114,325
Shareholder servicing costs--Note 2(c)........... 1,794,756
Registration fees................................ 183,014
Custodian fees................................... 132,401
Professional fees................................ 56,923
Prospectus and shareholders' reports............. 43,285
Directors' fees and expenses--Note 2(d).......... 36,330
Miscellaneous.................................... 39,567
-----------
Total Expenses.............................. 9,686,413
Less--reduction in shareholder servicing costs due to
undertaking--Note 2(c).......................... (243,136)
-----------
Net Expenses................................ 9,443,277
------------
INVESTMENT INCOME--NET.......................................................... 49,280,474
NET REALIZED GAIN (LOSS) ON INVESTMENTS--Note 1(b)............................. (8,067)
------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS.......................... $49,272,407
============
</TABLE>
See notes to financial statements.
<PAGE>
General Money Market Fund, Inc.
- -------------------------------------------------------------------------------
Statement of Changes in Net Assets
<TABLE>
<CAPTION>
Year Ended Year Ended
January 31, 1997 January 31, 1996
----------------- ------------------
<S> <C> <C>
OPERATIONS:
Investment income--net................................................... $ 49,280,474 $ 33,464,685
Net realized gain (loss) on investments.................................. (8,067) (3,057)
-------------- --------------
Net Increase (Decrease) in Net Assets Resulting from Operations...... 49,272,407 33,461,628
-------------- --------------
DIVIDENDS TO SHAREHOLDERS FROM:
Investment income--net:
Class A shares......................................................... (34,241,653) (32,893,579)
Class B shares......................................................... (15,038,821) (571,106)
-------------- --------------
Total Dividends...................................................... (49,280,474) (33,464,685)
-------------- --------------
CAPITAL STOCK TRANSACTIONS ($1.00 per share):
Net proceeds from shares sold:
Class A shares......................................................... 6,572,669,153 4,736,674,991
Class B shares........................................................ 1,019,289,506 98,889,385
Dividends reinvested:
Class A shares......................................................... 32,898,001 32,106,715
Class B shares......................................................... 14,154,018 79,652
Cost of shares redeemed:
Class A shares......................................................... (6,496,025,709) (4,686,313,457)
Class B shares......................................................... (714,679,626) (48,523,501)
-------------- ---------------
Increase (Decrease) in Net Assets from Capital Stock Transactions.... 428,305,343 132,913,785
-------------- ---------------
Total Increase (Decrease) in Net Assets............................ 428,297,276 132,910,728
NET ASSETS:
Beginning of Period...................................................... 705,027,022 572,116,294
-------------- --------------
End of Period............................................................ $1,133,324,298 $ 705,027,022
============== ==============
</TABLE>
See notes to financial statements.
<PAGE>
General Money Market Fund, Inc.
- -------------------------------------------------------------------------------
Financial Highlights
Contained below is per share operating performance data for a share of Common
Stock outstanding, total investment return, ratios to average net assets and
other supplemental data for each period indicated. This information has been
derived from the Fund's financial statements.
<TABLE>
<CAPTION>
Class A Shares
--------------------------------------------------------
Year Ended January 31,
--------------------------------------------------------
PER SHARE DATA: 1997 1996 1995 1994 1993
------- ------ ------ ------ ------
<S> <C> <C> <C> <C> <C>
Net asset value, beginning of period............... $1.00 $1.00 $1.00 $1.00 $1.00
------ ----- ----- ----- -----
Investment Operations:
Investment income--net.............................. .047 .053 .037 .025 .032
====== ===== ===== ===== =====
Distributions:
Dividends from investment income--net............... (.047) (.053) (.037) (.025) (.032)
====== ===== ===== ===== =====
Net asset value, end of period..................... $1.00 $1.00 $1.00 $1.00 $1.00
====== ===== ===== ===== =====
TOTAL INVESTMENT RETURN............................... 4.81% 5.42% 3.75% 2.56% 3.26%
RATIOS/SUPPLEMENTAL DATA:
Ratio of expenses to average net assets............ .84% .86% .94% .94% .95%
Ratio of net investment income
to average net assets........................... 4.71% 5.28% 3.68% 2.53% 3.22%
Decrease reflected in above expense ratios
due to undertakings by the Manager.............. -- .01% .04% .02% --
Net Assets, end of period (000's Omitted).......... $764,119 $654,581 $572,116 $616,072 $688,785
</TABLE>
See notes to financial statments.
<PAGE>
General Money Market Fund, Inc.
- -------------------------------------------------------------------------------
Financial Highlights (continued)
Contained below is per share operating performance data for a share of Common
Stock outstanding, total investment return, ratios to average net assets and
other supplemental data for each period indicated. This information has been
derived from the Fund's financial statements.
<TABLE>
<CAPTION>
Class B Shares
---------------------------------
Year Ended January 31,
---------------------------------
PER SHARE DATA: 1997 1996(1)
---------------- --------------
<S> <C> <C>
Net asset value, beginning of period.................................... $1.00 $1.00
------ ------
Investment Operations:
Investment income--net................................................... .046 .043
------ ------
Distributions:
Dividends from investment income--net.................................... (.046) (.043)
------ ------
Net asset value, end of period.......................................... $1.00 $1.00
====== ======
TOTAL INVESTMENT RETURN.................................................... 4.65% 5.18%(2)
RATIOS/SUPPLEMENTAL DATA:
Ratio of expenses to average net assets................................. 1.00% 1.00%(2)
Ratio of net investment income
to average net assets................................................ 4.56% 5.00%(2)
Decrease reflected in above expense ratios
due to undertakings by the Manager................................... .07% .07%(2)
Net Assets, end of period (000's Omitted)............................... $369,205 $50,446
<FN>
- ------------------------------------------------------------------------------
(1) From March 31, 1995 (commencement of initial offering) to
January 31, 1996.
(2) Annualized.
</TABLE>
See notes to financial statements.
<PAGE>
General Money Market Fund, Inc.
- ------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS
NOTE 1--Significant Accounting Policies:
General Money Market Fund, Inc. (the "Fund") is registered under the
Investment Company Act of 1940 ("Act") as a diversified open-end management
investment company. The Fund's investment objective is to provide investors with
as high a level of current income as is consistent with the preservation of
capital. The Dreyfus Corporation ("Manager") serves as the Fund's investment
adviser. The Manager is a direct subsidiary of Mellon Bank, N.A.
Premier Mutual Fund Services, Inc. (the "Distributor") acts as the
distributor of the Fund's shares, which are sold to the public without a sales
load. The Fund is authorized to issue 16 billion shares of $.001 par value
Common Stock. The Fund currently offers two classes of shares: Class A (15
billion shares authorized) and Class B (1 billion shares authorized). Class A
shares and Class B shares are identical except for the services offered to and
the expenses borne by each class and certain voting rights. Class A shares are
subject to a Service Plan adopted pursuant to Rule 12b-1 under the Act, Class B
shares are subject to a Distribution Plan adopted pursuant to Rule 12b-1 under
the Act and, in addition, Class B shares are charged directly for sub-accounting
services provided by Service Agents (a securities dealer financial institution
or other industry professional) at an annual rate of .05 of 1% of the value of
the average daily net assets of Class B.
It is the Fund's policy to maintain a continuous net asset value per share of
$1.00; the Fund has adopted certain investment, portfolio valuation and dividend
and distribution policies to enable it to do so. There is no assurance, however,
that the Fund will be able to maintain a stable net asset value per share of
$1.00.
The Fund's financial statements are prepared in accordance with generally
accepted accounting principles which may require the use of management estimates
and assumptions. Actual results could differ from those estimates.
(A) PORTFOLIO VALUATION: Investments are valued at amortized cost, which has
been determined by the Fund's Board of Directors to represent the fair value of
the Fund's investments.
(B) SECURITIES TRANSACTIONS AND INVESTMENT INCOME: Securities transactions
are recorded on a trade date basis. Realized gain and loss from securities
transactions are recorded on the identified cost basis. Interest income is
recognized on the accrual basis. Cost of investments represents amortized cost.
(C) DIVIDENDS TO SHAREHOLDERS: It is the policy of the Fund to declare
dividends from investment income--net on each business day. Such dividends are
paid monthly. Dividends from net realized capital gain, if any, are normally
declared and paid annually, but the Fund may make distributions on a more
frequent basis to comply with the distribution requirements of the Internal
Revenue Code. To the extent that net realized capital gain can be offset by
capital loss carryovers, it is the policy of the Fund not to distribute such
gain.
(D) FEDERAL INCOME TAXES: It is the policy of the Fund to continue to qualify
as a regulated investment company, if such qualification is in the best
interests of its shareholders, by complying with the applicable provisions of
the Internal Revenue Code, and to make distributions of taxable income
sufficient to relieve it from substantially all Federal income and excise taxes.
The Fund has an unused capital loss carryover of approximately $27,000
available for Federal income tax purposes to be applied against future net
securities profits, if any, realized subsequent to January 31, 1997. If not
applied, $12,000 of the carryover expires in fiscal 2002 and $15,000 of the
carryover expires in fiscal 2005.
At January 31, 1997, the cost of investments for Federal income tax purposes
was substantially the same as the cost for financial reporting purposes (see
the Statement of Investments).
<PAGE>
General Money Market Fund, Inc.
- -------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (continued)
NOTE 2--Management Fee and Other Transactions With Affiliates:
(A) Pursuant to a management agreement ("Agreement") with the Manager, the
management fee is computed at the annual rate of .50 of 1% of the value of the
Fund's average daily net assets and is payable monthly. The Agreement provides
that if in any full fiscal year the aggregate expenses of the Fund, exclusive
of taxes, brokerage, interest on borrowings and extraordinary expenses, exceed
11/2% of the value of the Fund's average net assets, the Fund may deduct from
payments to be made to the Manager, or the Manager will bear such excess
expense. There was no expense reimbursement during the period ended January 31,
1997, pursuant to the Agreement.
(B) Under the Service Plan with respect to Class A shares (the "Plan"),
adopted pursuant to Rule 12b-1 under the Act, the Fund directly bears the costs
of preparing, printing and distributing prospectuses and statements of
additional information and implementing and operating the Plan. In addition, the
Fund reimburses (a) the Distributor for payments made for distributing Class A
shares and servicing shareholder accounts ("Servicing") and (b) the Manager,
Dreyfus Service Corporation, a wholly-owned subsidiary of the Manager, and their
affiliate (collectively, "Dreyfus") for payments made for Servicing, at an
aggregate annual rate of up to .20 of 1% of the value of the average daily net
assets of Class A. Both the Distributor and Dreyfus may pay Service Agents a fee
in respect of Class A shares owned by shareholders with whom the Service Agent
has a Servicing relationship or for whom the Service Agent is the dealer or
holder of record. The schedule of such fees and the basis upon which such fees
will be paid shall be determined from time to time by the Fund's Board of
Directors. If a holder of Class A shares ceases to be a client of a Service
Agent, but continues to hold Class A shares, Dreyfus will be permitted to act as
a Service Agent in respect of such Fund shareholders and receive payments under
the Service Plan for Servicing. The fees payable for Servicing are payable
without regard to actual expenses incurred. During the period ended January 31,
1997, $1,454,173 was charged to the Fund pursuant to the Plan.
Under the Distribution Plan with respect to Class B shares ("Class B
Distribution Plan"), adopted pursuant to Rule 12b-1 under the Act, the Fund
directly bears the costs of preparing, printing and distributing prospectuses
and statements of additional information and of implementing and operating the
Class B Distribution Plan. In addition, the Fund reimburses the Distributor for
payments made to third parties for distributing Class B shares at an aggregate
annual rate of up to .20 of 1% of the value of the average daily net assets of
Class B. During the period ended January 31, 1997, $660,152 was charged to the
Fund pursuant to the Class B Distribution Plan.
(C) Under the Fund's Shareholder Services Plan with respect to Class A shares
("Class A Shareholder Services Plan"), the Fund reimburses Dreyfus Service
Corporation, an amount not to exceed an annual rate of .25 of 1% of the value of
the average daily net assets of Class A for certain allocated expenses of
providing personal services and/or maintaining shareholder accounts. The
services provided may include personal services relating to shareholder
accounts, such as answering shareholder inquiries regarding the Fund and
providing reports and other information, and services related to the maintenance
of shareholder accounts. During the period ended January 31, 1997, the Fund was
charged an aggregate of $363,543 pursuant to the Class A Shareholder Services
Plan.
Under the Fund's Shareholder Services Plan with respect to Class B ("Class B
Shareholder Services Plan"), the Fund pays the Distributor for the provision of
certain services to the holders of Class B shares a fee at an annual rate of .25
of 1% of the value of the average daily net assets of Class B. The services
provided may include personal services relating to shareholder accounts, such
as answering shareholder inquiries regarding the Fund and providing reports and
other information, and services related to the maintenance of shareholder
accounts. The Distributor may make payments to Service Agents in respect of
these services. The Distributor determines the amounts to be paid to
Service Agents.
<PAGE>
General Money Market Fund, Inc.
- -------------------------------------------------------------------------------
NOTES TO FINANCIAL STATEMENTS (continued)
The Manager has undertaken through March 31, 1997, that if the aggregate
expenses of Class B of the Fund (exclusive of certain expenses as described
above) exceed 1% of the value of the average daily net assets of Class B, the
Manager will reimburse the expenses of the Fund under the Class B Shareholder
Services Plan to the extent of any excess expense and up to the full fee payable
under the Class B Shareholder Services Plan. During the period ended January 31,
1997, $825,189 was charged to the Fund pursuant to the Class B Shareholder
Services Plan, of which $243,136 was reimbursed by the Manager.
The Fund compensates Dreyfus Transfer, Inc., a wholly-owned subsidiary of the
Manager, under a transfer agency agreement for providing personnel and
facilities to perform transfer agency services for the fund. Such compensation
amounted to $213,208 during the period ended January 31, 1997.
(D) Each director who is not an "affiliated person" as defined in the Act
receives from the Fund an annual fee of $2,500 and an attendance fee of $500 per
meeting. The Chairman of the Board receives an additional 25% of such
compensation.
<PAGE>
General Money Market Fund, Inc.
- ------------------------------------------------------------------------------
Report of Ernst & Young LLP, Independent Auditors
Shareholders and Board of Directors
General Money Market Fund, Inc.
We have audited the accompanying statement of assets and liabilities of
General Money Market Fund, Inc., including the statement of investments, as of
January 31, 1997, and the related statement of operations for the year then
ended, the statement of changes in net assets for each of the two years in the
period then ended, and financial highlights for each of the years indicated
therein. These financial statements and financial highlights are the
responsibility of the Fund's management. Our responsibility is to express an
opinion on these financial statements and financial highlights based on our
audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements and financial
highlights are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements and financial highlights. Our procedures included confirmation of
securities owned as of January 31, 1997 by correspondence with the custodians.
An audit also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly, in all material respects, the financial position of
General Money Market Fund, Inc. at January 31, 1997, the results of its
operations for the year then ended, the changes in its net assets for each of
the two years in the period then ended, and the financial highlights for each of
the indicated years, in conformity with generally accepted accounting
principles.
Ernst & Young LLP
New York, New York
March 3, 1997
<PAGE>
General Money Market Fund, Inc.
200 Park Avenue
New York, NY 10166
Manager
The Dreyfus Corporation
200 Park Avenue
New York, NY 10166
Custodian
The Bank of New York
90 Washington Street
New York, NY 10286
Transfer Agent &
Dividend Disbursing Agent
Dreyfus Transfer, Inc.
P.O. Box 9671
Providence, RI 02940
Printed in U.S.A. 196/696AR971
