NAVIGATOR MONEY MARKET FUND INC/
24F-2NT, 1998-09-28
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                                   Form 24F-2

             Annual Notice of Securities Sold Pursuant to Rule 24F-2

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 24F-2
                        Annual Notice of Securities Sold
                             Pursuant to Rule 24f-2

  Read instructions at end of Form before preparing Form. Please print or type.

1.       Name and address of issuer:  Navigator Money Market Fund, Inc.
         ----------------------------------------------------------------------
                                      721 Dresher Road, Suite 2400
         ----------------------------------------------------------------------
                                      Horsham, PA  19044
         ----------------------------------------------------------------------

2.       The name of each series or class of securities for which this Form is
         filed. (If the Form is being filed for all series and classes of
         securities of the issuer, check the box but do not list series or
         classes): [X]
                      --------------------------------------------------------

         ---------------------------------------------------------------------


3.       Investment Company Act File Number:            811-4306
                                            ----------------------------------

         Securities Act File Number:                     2-97840
                                    ------------------------------------------


4(a). Last day of fiscal year for which this Form is filed:  August 31, 1998
                                                           -------------------

4(b).[ ]  Check box if this Form is being filed late (i.e., more than 
          90 calendar days after the end of the issuer's fiscal year). 
          (See Instruction A.2)

Note: If the Form is being filed late, interest must be paid on the
registration fee due.

4(c).[X]  Check box if this is the last time the issuer will be filing 
          this Form.

5. Calculation of registration fee:

         (i)  Aggregate sale price of securities sold during the
              fiscal year pursuant to section 24(f):            $118,721,740
                                                                ------------


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         (ii)   Aggregate price of securities redeemed or
                repurchased during the fiscal year:              $254,469,386
                                                                 ------------

         (iii)  Aggregate price of securities redeemed or
                repurchased during any prior fiscal year ending
                no earlier than October 11, 1995 that were not
                previously used to reduce registration fees
                payable to the Commission:                       $
                                                                 ------------

         (iv)   Total available redemption credits
                [add Items 5(ii) and 5(iii)]:                    -$254,469,386
                                                                  ------------
 
         (v)    Net sales -- if Item 5(i) is greater than 
                Item 5(iv) [subtract Item 5(iv) 
                from Item 5(i)]:                                  $
                                                                  ------------

         (vi)   Redemption credits available for use     $(135,747,646)
                in future years if Item 5(i) is less     -------------
                than Item 5(iv) [subtract Item 5(iv) 
                from Item 5(i)]:


         (vii)  Multiplier for determining registration fee
                (See Instruction C.9):                            x    .000295
                                                                  ------------

         (viii) Registration fee due [multiply Item 5(v) by 
                Item 5(vii)] (enter "0" if no fee is due):       =$          0
                                                                  ------------

6.       Prepaid Shares

         If the response to Item 5(i) was determined by deducting an amount of
         securities that were registered under the Securities Act of 1933
         pursuant to rule 24e-2 as in effect before October 11, 1997, then
         report the amount of securities (number of shares or other units)
         deducted here:__________. If there is a number of shares or other units
         that were registered pursuant to rule 24e-2 remaining unsold at the end
         of the fiscal year for which this form is filed that are available for
         use by the issuer in future fiscal years, then state that number
         here:__________.

7.       Interest due -- if this Form is being filed more than 
         90 days after the end of the issuer's fiscal year 
         (see Instruction D):                                    +$
                                                                  ------------

8.       Total of the amount of the registration fee due plus 
         any interest due [line 5(viii) plus line 7]:            =$          0
                                                                  ------------


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9.       Date the registration fee and any interest payment was sent to the
         Commission's lockbox depository:

                  Method of Delivery:
                                      [ ] Wire Transfer
                                      [ ] Mail or other means

                                   SIGNATURES

This report has been signed below by the following persons on behalf of the
issuer and in the capacities and on the dates indicated.


By (Signature and Title)*
                         ------------------------------------------------------
                         GERARD J. WILLS, VICE PRESIDENT
                         ------------------------------------------------------
                         * Please print the name and title of the signing 
                           officer below the signature.

Date: SEPTEMBER 28, 1998
     -------------------




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