<PAGE>
Dreyfus
New Jersey
Municipal
Money Market
Fund, Inc.
Annual Report
January 31, 1994
<PAGE>
- --------------------------------------------------------------------------------
PRESIDENT'S LETTER
Dear Shareholder:
We are pleased to provide you with this annual report for the Dreyfus New
Jersey Municipal Money Market Fund, Inc. For the period ended January 31, 1994,
the yield provided by your Fund was 2.10%. After taking into account the
compounding of interest, the effective yield was 2.12%.* Dividends of
approximately $.02 per share paid during the period were exempt from Federal and
New Jersey income taxes.**
At our last reporting, we were keeping a watchful eye on the status of the
U.S. economy, the direction of interest rates and any significant variation in
inflationary indicators. Early in the period, economic numbers hinted that the
nation's growth might be more anemic than anticipated. With no strong threat of
a rekindling of inflation, the municipal market responded with strength
providing some of the lowest historic yields in both the bond and money markets.
In a somewhat unusual turn of events, total assets of municipal money market
funds increased despite the unprecedented low yield environment -- at one point
reaching over $112 billion, an all-time high.
In the first quarter of 1994, however, signs of economic strength began to
emerge along with the spectre of a tighter Federal Reserve Board policy. In
fact, on February 4, through a direct announcement by Chairman Alan Greenspan,
the Fed "snugged up" the Federal Funds rate target a quarter of a percentage
point to 3 1/4%. The market reaction was a corresponding backup in rates, which
was exacerbated to some degree by the anticipation of new supply in the
marketplace -- including $3.2 billion State of California Revenue Anticipation
Warrants in mid-February. With a significant portion of your Fund invested in
variable rate demand notes (which quickly reflect the market conditions through
both daily and weekly repricing mechanisms), your Fund continued to provide an
attractive yield for the New Jersey investor. Bear in mind that securities with
a New Jersey exemption continue to trade at a premium to national names,
resulting in lower yields. However, with the new tax rates in effect, on an
after-tax basis your Fund continued to provide an attractive yield relative to
taxable alternatives.
Our strategy in the coming weeks will be to choose carefully along the
one-year yield curve as attractive opportunities appear. In selectively
investing in the municipal note market, we will continue to seek out high
quality New Jersey-exempt issues while providing the portfolio with a high level
of diversity and liquidity.
We have included a current Statement of Investments and recent financial
statements for your review. We look forward to serving your investment needs in
the future.
Very truly yours,
Richard J. Moynihan
President
February 16, 1994
New York, N.Y.
* Effective yield is based upon dividends declared daily and reinvested
monthly.
** Some income may be subject to the Federal Alternative Minimum Tax (AMT) for
certain shareholders.
<TABLE>
<CAPTION>
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DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS JANUARY 31, 1994
TAX EXEMPT INVESTMENTS--100.0% AMOUNT VALUE
------------ ------------
<S> <C> <C>
NEW JERSEY--80.8%
Atlantic City, BAN 2.75%, 10/4/94..................................................... $ 9,400,000 $ 9,431,044
Atlantic County Improvement Authority, Revenue, VRDN
(Pooled Government Loan Program) 2.15% (LOC; Hongkong Shanghai Banking Corp.)
(a,b)............................................................................. 25,100,000 25,100,000
Bergen County, BAN 2.82%, 6/28/94..................................................... 12,000,000 12,000,908
Camden County, BAN:
2.75%, 2/23/94...................................................................... 10,375,000 10,376,830
3.25%, 2/23/94...................................................................... 4,900,000 4,901,434
Cape May County Municipal Utilities Authority, Solid Waste Revenue, RRR
(Daneco Project) 2.80%, 11/30/94 (GIC; Societe Generale)............................ 18,400,000 18,400,000
East Brunswick Township, BAN 3.25%, 1/3/95............................................ 10,000,000 10,090,000
Essex County, BAN 2.70%, Series C, 12/13/94........................................... 16,250,000 16,291,063
Essex County Improvement Authority, Revenue, VRDN (Pooled Government Loan Program)
2.05% (LOC; Sumitomo Bank) (a,b).................................................... 14,200,000 14,200,000
Hudson County Improvement Authority, VRDN (Essential Purpose Government Loan)
2.55% (LOC; Hongkong Shanghai Banking Corp.) (a,b).................................. 49,040,000 49,040,000
Mercer County, Refunding, GO Notes 2.65%, 7/1/94...................................... 3,000,000 3,000,594
Monmouth County Improvement Authority, Revenue, VRDN (Pooled Government Loan Program)
2.05% (LOC; Union Bank of Switzerland) (a,b)........................................ 38,000,000 38,000,000
New Jersey Economic Development Authority:
PCR, Refunding, VRDN (Hoffman La Roche) 2.30%, Series 85
(LOC; Wachovia Bank of Georgia) (a,b)............................................. 20,000,000 20,000,000
Revenue, CP (Keystone Project) 2.10%, 3/8/94 (LOC; Union Bank of Switzerland) (b)... 15,500,000 15,500,000
VRDN:
EDR:
(Exit 8A L.P. Project) 2.50% (LOC; The Bank of Tokyo) (a,b)..................... 7,500,000 7,500,000
(Hartz and Rex Associates) 2.60% (LOC; Bankers Trust) (a,b)..................... 2,000,000 2,000,000
(Kenwood USA Corp. Project) 3.20% (LOC; The Asahi Bank) (a,b)................... 7,400,000 7,400,000
(Merck and Co. Inc.) 2.70% (a).................................................. 1,000,000 1,000,000
(Northville American Terminal) 2.45% (LOC; Union Bank of Switzerland) (a,b)..... 2,000,000 2,000,000
(Polymeric Resource Corp. Project) 2.45%, Series C (LOC; Bank of Tokyo) (a,b)... 1,500,000 1,500,000
Refunding:
(Black Horse Pike Ltd. Project) 2.70% (Guaranteed by; Household Finance Corp.)
(a)......................................................................... 5,400,000 5,400,000
(El Dorado Terminal) 2.15%, Series A (LOC; Dow Chemical Co.) (a,b)............ 12,200,000 12,200,000
First Mortgage Gross Revenue
(Franciscan Oaks Project) 2.20%, Series B (LOC; Bank of Scotland) (a,b)......... 3,500,000 3,500,000
Industrial and Economic Development Revenue:
(Marriott Corp. Project) 2.60% (LOC; National Westminster Bank) (a,b)........... 17,900,000 17,900,000
(Merck and Co. Inc.) 2.45%, Series A and B (a).................................. 1,000,000 1,000,000
Manufacturing Facilities Revenue
(Rennoc Corp. Project) 2.55% (LOC; National Bank of Philadelphia) (a,b)......... 5,515,000 5,515,000
New Jersey Health Care Facilities Financing Authority, Revenue, VRDN
(Hospital Capital Asset Financing):
2.25%, Series A (LOC; Chemical Bank) (a,b)........................................ 18,700,000 18,700,000
2.25%, Series D (LOC; Chemical Bank) (a,b)........................................ 21,000,000 21,000,000
New Jersey Housing and Mortgage Finance Agency, Revenue 2.90%, 9/29/94
(GIC; Republic National Bank of New York)........................................... 10,000,000 10,000,000
</TABLE>
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DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS (CONTINUED) JANUARY 31, 1994
<TABLE>
<CAPTION>
TAX EXEMPT INVESTMENTS (CONTINUED) AMOUNT VALUE
------------ ------------
NEW JERSEY (CONTINUED)
<S> <C> <C>
New Jersey Sports and Exposition Authority, State Contract, VRDN
2.20%, Series C (BPA; Societe Generale and Insured; MBIA) (a)....................... $ 20,000,000 $ 20,000,000
New Jersey Turnpike Authority, Turnpike Revenue, Refunding, VRDN
2.35%, Series D (Insured; FGIC and Liquidity Agreement; Societe Generale) (a)....... 48,500,000 48,500,000
Ocean City, BAN 2.75%, 1/4/95......................................................... 7,600,000 7,627,366
Port Authority of New York and New Jersey:
CP 2.20%, 4/7/94 (Liquidity Facility; Daiwa Bank)................................... 11,650,000 11,650,000
VRDN:
Certificates Partnership 2.50% (a)................................................ 15,309,000 15,309,000
Special Obligation Revenue:
(Third Installment) 2.05%, Series 3 (LOC; Deutsche Bank) (a,b).................. 6,000,000 6,000,000
Versatile Structure Obligation 2.25%, Series 1
(SBPA: Industrial Bank of Japan, Sanwa Bank and Sumitomo Bank) (a)............ 39,300,000 39,300,000
Salem County Industrial Pollution Control Financing Authority, Revenue, CP
(Philadelphia Electric Co.) 2.15%, Series A, 2/23/94 (LOC; Toronto Dominion Bank)
(b)............................................................................... 11,400,000 11,400,000
Salem Municipal Port Authority, Port Development Revenue, VRDN
(South Jersey Process Technical Inc. Project) 2.70% (LOC; Bankers Trust) (a,b)...... 1,500,000 1,500,000
Sommerset County, BAN 2.71%, 10/28/94................................................. 22,753,000 22,754,509
State of New Jersey, TRAN 3%, 6/15/94................................................. 53,100,000 53,279,695
Sussex County, BAN 2.50%, 4/19/94..................................................... 5,375,000 5,375,000
Union County Industrial Pollution Control Financing Authority, PCR, Refunding, CP
(Exxon Project) 2%, 4/20/94 (Corp. Guaranty; Exxon Corp.)........................... 9,100,000 9,100,000
U.S. RELATED--19.2%
Commonwealth of Puerto Rico, TRAN 3%, Series A, 7/29/94............................... 100,000,000 100,128,920
Commonwealth of Puerto Rico Government Development Bank, Refunding, VRDN
1.75% (LOC: Credit Suisse and Sumitomo Bank) (a,b).................................. 33,000,000 33,000,000
Commonwealth of Puerto Rico Highway and Transportation Authority,
Highway Revenue, VRDN 2.05%, Series X (LOC: Landesbank, Swiss Bank Corp. and
Union Bank of Switzerland) (a,b).................................................... 13,000,000 13,000,000
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TOTAL INVESTMENTS (cost $760,871,363)................................................. $760,871,363
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</TABLE>
SUMMARY OF ABBREVIATIONS
<TABLE>
<S> <C> <C> <C>
BAN Bond Anticipation Notes LOC Letter of Credit
BPA Bond Purchase Agreement MBIA Municipal Bond Insurance Association
CP Commercial Paper PCR Pollution Control Revenue
EDR Economic Development Revenue RRR Resources Recovery Revenue
FGIC Financial Guaranty Insurance Corporation SBPA Standby Bond Purchase Agreement
GIC Guaranteed Investment Contract TRAN Tax and Revenue Anticipation Notes
GO General Obligation VRDN Variable Rate Demand Notes
</TABLE>
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DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
SUMMARY OF COMBINED RATINGS (UNAUDITED)
<TABLE>
<CAPTION>
MOODY'S OR STANDARD & POOR'S PERCENTAGE OF VALUE
- ------------------------ -------------------------- -------------------
<S> <C> <C> <C>
VMIG1/MIG1, P1 (c) SP1+/SP1, A1+/A1 (c) 89.0%
Aaa/Aa (d) AAA/AA (d) 4.5
Not Rated (e) Not Rated (e) 6.5
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100.0%
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------
</TABLE>
NOTES TO STATEMENT OF INVESTMENTS:
(a) Securities payable on demand. The interest rate, which is subject to
change, is based upon bank prime rates or an index of market interest rates.
(b) Secured by letters of credit. At January 31, 1994, 41.9% of the Fund's net
assets are backed by letters of credit issued by domestic banks, foreign
banks and corporations.
(c) P1 and A1 are the highest ratings assigned tax-exempt commercial paper by
Moody's and Standard & Poor's, respectively.
(d) Notes which are not MIG or SP rated are represented by bond ratings of the
issuers.
(e) Securities which, while not rated by Moody's and Standard & Poor's,
respectively, have been determined by the Fund's Board of Directors to be
of comparable quality to those rated securities in which the Fund may
invest.
See notes to financial statements.
<PAGE>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES JANUARY 31, 1994
<TABLE>
<S> <C> <C>
ASSETS:
Investments in securities, at value--Note 1(a).......................................... $760,871,363
Cash.................................................................................... 14,029,850
Interest receivable..................................................................... 3,623,189
Prepaid expenses........................................................................ 60,350
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778,584,752
LIABILITIES:
Due to The Dreyfus Corporation.......................................................... $ 134,919
Accrued expenses........................................................................ 213,782 348,701
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NET ASSETS................................................................................ $778,236,051
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------------
REPRESENTED BY:
Paid-in capital......................................................................... $778,239,333
Accumulated net realized (loss) on investments.......................................... (3,282)
------------
NET ASSETS at value applicable to 778,239,333 shares outstanding
(2 billion shares of $.001 par value Common Stock authorized)........................... $778,236,051
------------
------------
NET ASSET VALUE, offering and redemption price per share
($778,236,051 / 778,239,333 shares)..................................................... $1.00
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</TABLE>
STATEMENT OF OPERATIONS YEAR ENDED JANUARY 31, 1994
<TABLE>
<S> <C> <C>
INVESTMENT INCOME:
INTEREST INCOME......................................................................... $ 18,960,969
EXPENSES:
Management fee--Note 2(a)............................................................. $3,873,077
Shareholder servicing costs--Note 2(b)................................................ 937,305
Custodian fees........................................................................ 85,051
Professional fees..................................................................... 63,943
Prospectus and shareholders' reports.................................................. 37,494
Directors' fees and expenses--Note 2(c)............................................... 21,334
Registration fees..................................................................... 4,230
Miscellaneous......................................................................... 27,415
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5,049,849
Less--reduction in management fee due to
undertaking--Note 2(a).............................................................. 2,323,846
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TOTAL EXPENSES.................................................................... 2,726,003
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INVESTMENT INCOME--NET.................................................................... 16,234,966
NET REALIZED (LOSS) ON INVESTMENTS--Note 1(b)............................................. (1,731)
------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS...................................... $ 16,233,235
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</TABLE>
See notes to financial statements.
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DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
YEAR ENDED JANUARY 31,
-------------------------------------
1993 1994
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<S> <C> <C>
OPERATIONS:
Investment income--net......................................................... $ 21,119,445 $ 16,234,966
Net realized (loss) on investments............................................. (580) (1,731)
-------------- --------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS......................... 21,118,865 16,233,235
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DIVIDENDS TO SHAREHOLDERS FROM;
Investment income--net......................................................... (21,119,445) (16,234,966)
-------------- --------------
CAPITAL STOCK TRANSACTIONS ($1.00 per share):
Net proceeds from shares sold.................................................. 1,203,018,403 1,594,549,698
Dividends reinvested........................................................... 19,716,285 14,863,253
Cost of shares redeemed........................................................ (1,264,872,608) (1,612,775,419)
-------------- --------------
(DECREASE) IN NET ASSETS FROM CAPITAL STOCK TRANSACTIONS..................... (42,137,920) (3,362,468)
-------------- --------------
TOTAL (DECREASE) IN NET ASSETS............................................. (42,138,500) (3,364,199)
NET ASSETS:
Beginning of year.............................................................. 823,738,750 781,600,250
-------------- --------------
End of year.................................................................... $ 781,600,250 $ 778,236,051
-------------- --------------
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</TABLE>
See notes to financial statements.
<PAGE>
DREYFUS NEW JERSEY MUNICIPAL 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 year indicated. This information has been
derived from information provided in the Fund's financial statements.
<TABLE>
<CAPTION>
YEAR ENDED JANUARY 31,
---------------------------------------------------------------
PER SHARE DATA: 1990 1991 1992 1993 1994
------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C>
Net asset value, beginning of year.................. $1.0000 $1.0000 $1.0000 $1.0000 $1.0000
------- ------- ------- ------- -------
INVESTMENT OPERATIONS:
Investment income--net.............................. .0615 .0567 .0415 .0265 .0210
Net realized and unrealized gain (loss) on
investments....................................... -- -- -- -- --
------- ------- ------- ------- -------
TOTAL FROM INVESTMENT OPERATIONS.................. .0615 .0567 .0415 .0265 .0210
------- ------- ------- ------- -------
DISTRIBUTIONS:
Dividends from investment income--net............... (.0615) (.0567) (.0415) (.0265) (.0210)
Dividends from net realized gain on investments..... -- -- -- -- --
------- ------- ------- ------- -------
TOTAL DISTRIBUTIONS............................... (.0615) (.0567) (.0415) (.0265) (.0210)
------- ------- ------- ------- -------
Net asset value, end of year........................ $1.0000 $1.0000 $1.0000 $1.0000 $1.0000
------- ------- ------- ------- -------
------- ------- ------- ------- -------
TOTAL INVESTMENT RETURN 6.33% 5.83% 4.22% 2.68% 2.12%
RATIOS / SUPPLEMENTAL DATA:
Ratio of expenses to average net assets............. .23% .16% .17% .32% .35%
Ratio of net investment income to average net
assets............................................ 6.13% 5.66% 4.14% 2.65% 2.10%
Decrease reflected in above expense ratios due to
undertakings by the Manager....................... .42% .45% .45% .32% .30%
Net Assets, end of year (000's Omitted)............. $501,475 $848,608 $823,739 $781,600 $778,236
</TABLE>
See notes to financial statements.
<PAGE>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
NOTES TO FINANCIAL STATEMENTS
NOTE 1--SIGNIFICANT ACCOUNTING POLICIES:
The Fund is registered under the Investment Company Act of 1940 ("Act") as
a non-diversified open-end management investment company. Dreyfus Service
Corporation ("Distributor") acts as the exclusive distributor of the Fund's
shares, which are sold to the public without a sales charge. The Distributor is
a wholly-owned subsidiary of The Dreyfus Corporation ("Manager").
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.
(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. Interest income, adjusted for amortization
of premiums and, when appropriate, discounts on investments, is earned from
settlement date and recognized on the accrual basis. Realized gain and loss from
securities transactions are recorded on the identified cost basis.
The Fund follows an investment policy of investing primarily in municipal
obligations of one state. Economic changes affecting the state and certain of
its public bodies and municipalities may affect the ability of issuers within
the state to pay interest on, or repay principal of, municipal obligations held
by the Fund.
(C) DIVIDENDS TO SHAREHOLDERS: It is the policy of the Fund to declare
dividends daily from investment income-net. 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, which can distribute tax exempt
dividends, by complying with the provisions available to certain investment
companies, as defined in applicable sections of the Internal Revenue Code, and
to make distributions of income and net realized capital gain sufficient to
relieve it from all, or substantially all, Federal income taxes.
The Fund has an unused capital loss carryover of $3,282 available for
Federal income tax purposes to be applied against future net securities profits,
if any, realized subsequent to January 31, 1994. If not applied, $971 of the
carryover expires in fiscal 2000 and $2,311 expires in fiscal 2002.
At January 31, 1994 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).
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 average daily
value of the Fund's net assets and is payable monthly. The Agreement provides
for an expense reimbursement from the Manager should the Fund's aggregate
expenses, exclusive of taxes, interest on borrowings, brokerage and
extraordinary expenses, exceed the expense limitation of any state having
jurisdiction over the Fund for any full fiscal year. However, the Manager had
undertaken, from February 1, 1993 to waive receipt of the management fee payable
to it by the Fund in excess of an annual rate of .20 of 1% of the Fund's
<PAGE>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
average net assets. The reduction in the management fee, pursuant to the
undertaking, amounted to $2,323,846 for the year ended January 31, 1994.
The Manager may modify the expense limitation percentages from time to
time, provided that the resulting expense reimbursement would not be less than
the amount required pursuant to the Agreement.
(B) Pursuant to the Fund's Shareholder Services Plan, the Fund reimburses
the Distributor an amount not to exceed an annual rate of .25 of 1% of the
Fund's average daily net assets for servicing 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 year ended January 31, 1994, the Fund was charged an
aggregate of $332,366 pursuant to the Shareholder Services Plan.
(C) Certain officers and directors of the Fund are "affiliated persons," as
defined in the Act, of the Manager and/or the Distributor. Each director who is
not an "affiliated person" receives an annual fee of $2,500 and an attendance
fee of $500 per meeting.
(D) On December 5, 1993, the Manager entered into an Agreement and Plan of
Merger providing for the merger of the Manager with a subsidiary of Mellon Bank
Corporation ("Mellon").
Following the merger, it is planned that the Manager will be a direct
subsidiary of Mellon Bank, N.A. Closing of this merger is subject to a number of
contingencies, including the receipt of certain regulatory approvals and the
approvals of the stockholders of the Manager and of Mellon. The merger is
expected to occur in mid-1994, but could occur later.
Because the merger will constitute an "assignment" of the Fund's Management
Agreement with the Manager under the Investment Company Act of 1940, and thus a
termination of such Agreement, the Manager will seek prior approval from the
Fund's Board and shareholders.
<PAGE>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
REPORT OF ERNST & YOUNG, INDEPENDENT AUDITORS
SHAREHOLDERS AND BOARD OF DIRECTORS
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
We have audited the accompanying statement of assets and liabilities of
Dreyfus New Jersey Municipal Money Market Fund, Inc., including the statement of
investments, as of January 31, 1994, 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. Our procedures included confirmation of securities owned as of
January 31, 1994 by correspondence with the custodian. 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
Dreyfus New Jersey Municipal Money Market Fund, Inc. at January 31, 1994, 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.
New York, New York /s/ Ernst & Young
March 4, 1994
<PAGE>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
IMPORTANT TAX INFORMATION (UNAUDITED)
In accordance with Federal tax law, the Fund hereby designates all the
dividends paid from investment income-net during the fiscal year ended January
31, 1994 as "exempt-interest dividends" (not subject to regular Federal and, for
individuals who are New Jersey residents, New Jersey personal income taxes).
<PAGE>
[LOGO]
DREYFUS NEW JERSEY
MUNICIPAL MONEY MARKET FUND, INC.
144 Glenn Curtiss Boulevard
Uniondale, NY 11556
MANAGER
The Dreyfus Corporation
200 Park Avenue
New York, NY 10166
DISTRIBUTOR
Dreyfus Service Corporation
200 Park Avenue
New York, NY 10166
CUSTODIAN
The Bank of New York
110 Washington Street
New York, NY 10286
TRANSFER AGENT &
DIVIDEND DISBURSING AGENT
The Shareholder Services Group, Inc.
P.O. Box 9671
Providence, RI 02940
Further information is contained in the Prospectus,
which must precede or accompany this report.
Printed in U.S.A. 758AR941
