June 20, 1994
GENERAL NEW YORK MUNICIPAL
MONEY MARKET FUND
SUPPLEMENT TO PROSPECTUS
DATED MARCH 15, 1994
The following information supplements and should be read in
conjunction with the section of the Fund's Prospectus entitled "Management
of the Fund."
The Fund's manager, The Dreyfus Corporation ("Dreyfus"), has entered
into an Agreement and Plan of Merger (the "Merger Agreement") providing
for the merger of Dreyfus with a subsidiary of Mellon Bank Corporation
("Mellon").
Following the merger, it is planned that Dreyfus will be a direct
subsidiary of Mellon Bank, N.A. Closing of this merger is subject to a
number of contingencies, including receipt of certain regulatory approvals
and approvals of the stockholders of Dreyfus and of Mellon. The merger is
expected to occur in August 1994, but could occur significantly later.
As a result of regulatory requirements and the terms of the Merger
Agreement, Dreyfus will seek various approvals from the Fund's
shareholders before completion of the merger. Proxy materials, approved
by the Fund's Board, recently have been mailed to Fund shareholders.
Effective June 1, 1994, the Fund's Service Plan has been terminated.
The Fund will continue to bear directly the costs of preparing and
printing prospectuses and statements of additional information used for
regulatory purposes and for distribution to existing shareholders. The
Dreyfus Corporation may pay Dreyfus Service Corporation for shareholder
and distribution services from The Dreyfus Corporation's assets, including
past profits but not including the management fee paid by the Fund.
Dreyfus Service Corporation may use part or all of such payments to pay
securities dealers or others in respect of these services.
(CONTINUED ON REVERSE SIDE)
The following information supplements and should be read in
conjunction with the section of the Fund's Prospectus entitled "Yield
Information." From time to time advertising materials for the Fund also
may refer to Value Line Mutual Fund Survey company ratings and related
analyses supporting the rating.
574/stkr062094
