DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
LETTER TO SHAREHOLDERS
Dear Shareholder:
We are pleased to provide you with this report on the Dreyfus New Jersey
Municipal Money Market Fund, Inc. For its semi-annual reporting period ended
July 31, 1996, your Fund produced an annualized yield of 2.69% per share.
Income dividends of approximately $.013 per share were paid during the
period. Reinvesting these dividends and calculating the effect of compounding
resulted in an annualized effective yield of 2.72%.* These dividends were
exempt from Federal and State of New Jersey personal income taxes, although
some income may be subject to the Federal Alternative Minimum Tax (AMT) for
certain shareholders.
THE ECONOMY
The economic expansion which has now lasted more than six years continued
at a healthy clip in recent months, with consumer spending, housing activity
and job growth all showing solid gains. In the second quarter of 1996, the
U.S. economy grew at a 4.2% annual pace, its best performance in two years.
American consumers continued to buy new autos and houses at a robust rate,
with housing sales and starts growing 15.2% in the spring quarter, according
to the government's Gross Domestic Product (GDP) report. At the same time,
the unemployment rate dropped to 5.3% in June, its lowest level in years.
Vigorous economic growth inevitably brings investor concerns about
inflation: in other words, will the rising economy cause inflation to rise as
well? For much of July, the answer remained clouded. Federal Reserve Board
Chairman Alan Greenspan did not respond to inflationary fears with a clear
indication as to the direction of Fed policy in his July 18 testimony before
Congress. While hinting that the Fed would tighten short-term interest rates
in August if inflationary pressures warranted such action, Mr. Greenspan also
said that he expected the economy to slow of its own accord later this year.
By the end of July, a clearer picture emerged. According to government data
released at month's end, inflation in the second quarter of 1996 climbed just
2.1%, a very modest rise. Both short- and long-term rates responded with
enthusiasm.
MARKET ENVIRONMENT/PORTFOLIO
If one were to trace the trend in short-term municipal rates over this
most recent semi-annual period, the direction would mirror closely the
changes in supply and demand conditions. The six-month cycle would reflect:
low short-term yields in February due to strong money market fund cash flows
after the New Year; price weakness and higher rates in April as investors
tapped their money market funds to pay income taxes; market strength in late
June to early July as $9 billion in maturing notes left the market; and price
weakness and buying opportunities in late July due to inflationary concerns
and the added supply of summer financings. These technical influences
continue to be the overriding factor affecting municipal money rates.
These conditions, coupled with actions taken by the Federal Reserve
Board, provide the framework for our investment strategy-both on a day-to-day
basis and looking ahead over a one-year horizon. During the first few months
of 1996, as a result of uncertainty surrounding potential tax reform,
variable rate demand notes (which currently represent a significant portion
of your Fund's investment portfolio) benefited from unusually high yields.
While the concerns were only temporary, they translated, for a time, into a
more attractive after-tax rate of return than was available to the New Jersey
tax-exempt money market investor on taxable instruments with similar
maturities. During this period, the purchase of
attractively yielding commercial paper in the 90-day range also allowed us to
capture returns similar to those on one-year issues without a significant
extension of average maturity-enabling us to wait out a lower yield
environment in anticipation of eventual higher rates. Of course, these
conditions can change over time.
The opportunity to commit to the longer New Jersey note issues was not as
available in recent weeks since many of the issuers who returned to the
market with midyear financings did not carry a New Jersey exemption. We have,
however, participated in some New Jersey note offerings which resulted in an
extension of your Fund's average maturity beyond 50 days. At times these
purchases necessitated a premium to general market notes because of the
limited supply of sizeable, high quality notes. We will look to take
advantage of any additional buying opportunities as we monitor potential Fed
activity and any other significant changes in the municipal money market. All
new investments will continue to meet the high credit quality standards which
we require and to provide a significant level of liquidity commensurate with
the needs of your Fund.
Included in this report is a series of detailed statements about your
Fund's holdings and its financial condition. We hope they are informative.
Please know that we appreciate greatly your continued confidence in the Fund
and in The Dreyfus Corporation.
Sincerely,
[Richard J. Moynihan signature logo]
Richard J. Moynihan
Director, Municipal Portfolio Management
The Dreyfus Corporation
August 15, 1996
New York, N.Y.
* Annualized effective yield is based upon dividends declared daily and
reinvested monthly.
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<CAPTION>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS JULY 31, 1996 (UNAUDITED)
PRINCIPAL
TAX EXEMPT INVESTMENTS-100.0% AMOUNT VALUE
_______ _______ \
<S> <C> <C>
NEW JERSEY-88.7%
Atlantic City, BAN 4.375%, 11/13/96......................................... $ 18,375,000 $ 18,401,880
Atlantic County Improvement Authority, Revenue, VRDN
(Aces Pooled Government Loan Program) 3.30% (LOC; Midland Bank) (a,b)... 4,800,000 4,800,000
Essex County Improvement Authority, Revenue, VRDN
(Aces Pooled Government Loan Program):
3.20% (LOC; Banco Santander) (a,b).................................... 14,200,000 14,200,000
3.40% (LOC; Banco Santander) (a,b).................................... 6,100,000 6,100,000
Fort Lee, TAN 4.25%, 2/7/97................................................. 7,000,000 7,018,349
Hudson County Improvement Authority, VRDN
(Essential Purpose Pooled Government Loan)
3.60% (LOC; Hong Kong Shanghai Banking Corp.) (a,b)..................... 29,040,000 29,040,000
Hunterdon County, BAN 3.75%, 5/23/97........................................ 13,850,000 13,860,776
Middlesex County, BAN 3.90%, 6/25/97........................................ 36,900,000 36,902,992
Monmouth County Improvement Authority, Revenue, VRDN
(Aces Pooled Government Loan Program)
3.40% (LOC; Union Bank of Switzerland) (a,b)............................ 27,000,000 27,000,000
Morristown, BAN 4.125%, 5/8/97.............................................. 10,700,000 10,730,454
New Jersey Economic Development Authority:
Revenue
Thermal Energy Facilities (Thermal Energy Limited Partnership)
3.60%, 8/22/96 (Escrowed in; U.S. Treasury Securities)................ 2,000,000 2,000,000
VRDN:
EDR:
(Black Horse Pike Limited Project)
3.90% (Corp. Guaranty; Household Finance Corp.) (a)............. 5,400,000 5,400,000
(Exit 8A Limited Partnership Project) 3.75% (LOC; Bank of Tokyo-Mitsubishi) (a,b) 6,600,000 6,600,000
(Merck and Co., Inc.) 4.15%, Series A (a)......................... 1,000,000 1,000,000
Refunding (Hartz and Rex Associates) 3.775%, Series B (LOC; Bankers Trust) (a,b) 2,000,000 2,000,000
(White Horse Pike Limited Project)
3.90% (Corp. Guaranty; Household Finance Corp.) (a)............. 7,600,000 7,600,000
First Mortgage Gross Revenue (Franciscan Oaks Project)
3.45%, Series B (LOC; Bank of Scotland) (a,b)..................... 3,500,000 3,500,000
Mortgage Facilities Revenue (Rennoc Corp. Project)
3.60% (LOC; Philadelphia National Bank) (a,b)..................... 4,705,000 4,705,000
Natural Gas Facilities Revenue (NUI Corp. Project)
3.35% (Insured; AMBAC and SBPA; The Bank of New York) (a)......... 7,000,000 7,000,000
PCR (Hoffman La Roche Project) 3.40% (LOC; Bankers Trust) (a,b)....... 20,000,000 20,000,000
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF INVESTMENTS (CONTINUED) JULY 31, 1996 (UNAUDITED)
PRINCIPAL
TAX EXEMPT INVESTMENTS (CONTINUED) AMOUNT VALUE
_______ _______
NEW JERSEY (CONTINUED)
New Jersey Health Care Facilities Financing Authority, VRDN
(Hospital Capital Asset Financing):
3.30%, Series A (LOC; Chase Manhattan Bank) (a,b)..................... $ 15,200,000 $15,200,000
3.30%, Series D (LOC; Chase Manhattan Bank) (a,b)..................... 21,000,000 21,000,000
New Jersey Sports and Exposition Authority, State Contract, VRDN
3.30%, Series C (Insured; MBIA and LOC; Barclay de Zotte) (a,b)......... 46,100,000 46,100,000
New Jersey Turnpike Authority, Turnpike Revenue, Refunding, VRDN
3.35%, Series D (Insured; FGIC and SBPA; Societe Generale) (a).......... 82,900,000 82,900,000
Passaic County, BAN:
4.125%, 9/27/96......................................................... 21,000,000 21,005,952
4%, 4/4/97.............................................................. 5,000,000 5,012,165
4.25%, Series B, 6/25/97................................................ 15,000,000 15,045,291
Port Authority of New York and New Jersey:
CP 3.50%, 10/9/96 (Liquidity Facility; Bank of Nova Scotia)............. 6,360,000 6,360,000
VRDN:
Certificates Partnership 3.20% (a).................................... 5,688,000 5,688,000
Special Obligation Revenue, Versatile Structure Obligation:
3.35%, Series 2 (LOC; Morgan Guaranty Trust Co.) (a,b)............ 30,000,000 30,000,000
3.45%, Series 3 (SPBA; Morgan Guaranty Trust Co.) (a)............. 4,300,000 4,300,000
3.50%, Series 4 (LOC; Landesbank Hessen) (a,b).................... 16,900,000 16,900,000
Woodbridge Township, BAN 3.89%, 8/2/96...................................... 19,958,500 19,958,505
U.S. RELATED-11.3%
Commonwealth of Puerto Rico Government Development Bank, Refunding:
CP 3.50%, 8/30/96....................................................... 13,000,000 13,000,000
VRDN 3.20% (LOC; Credit Suisse) (a,b)................................... 42,100,000 42,100,000
Commonwealth of Puerto Rico Highway and Transportation Authority,
Highway Revenue, VRDN 3.20%, Series X
(LOC: Landesbank Hessen, Swiss Bank Corp. and Union Bank of Switzerland) (a,b) 10,775,000 10,775,000
______
TOTAL INVESTMENTS (cost $583,204,364)....................................... $583,204,364
=======
</TABLE>
<TABLE>
<CAPTION>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
SUMMARY OF ABBREVIATIONS
<S> <C> <S> <C>
AMBAC American Municipal Bond Assurance Corporation MBIA Municipal Bond Investors Assurance
BAN Bond Anticipation Notes Insurance Corporation
CP Commercial Paper PCR Pollution Control Revenue
EDR Economic Development Revenue SBPA Standby Bond Purchase Agreement
FGIC Financial Guaranty Insurance Company TAN Tax Anticipation Notes
LOC Letter of Credit VRDN Variable Rate Demand Notes
</TABLE>
<TABLE>
<CAPTION>
SUMMARY OF COMBINED RATINGS (UNAUDITED)
FITCH (C) OR MOODY'S OR STANDARD & POOR'S PERCENTAGE OF VALUE
- ------- ------- ----------------- ------------------
<S> <C> <S> <C>
F1+/F1 VMIG1/MIG1, P1 (d) SP1+/SP1, A1+/A1 (d) 76.5%
F2 VMIG2/MIG2, P2 SP2, A2 3.2
AAA/AA (e) Aaa/Aa (e) AAA/AA (e) 5.9
Not Rated (f) Not Rated (f) Not Rated (f) 14.4
____
100.0%
====
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 July 31, 1996, 50.8% of the Fund's
net assets are backed by letters of credit issued by domestic banks and
foreign banks.
(c) Fitch currently provides creditworthiness information for a limited
number of investments.
(d) P1 and A1 are the highest ratings assigned tax exempt commercial
paper by Moody's and Standard & Poor's, respectively.
(e) Notes which are not F, MIG or SP rated are represented by bond
ratings of the issuers.
(f) Securities which, while not rated by Fitch, Moody's or Standard &
Poor's 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.
</TABLE>
See independent accountants' review report and notes to financial statements.
<TABLE>
<CAPTION>
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES JULY 31, 1996 (UNAUDITED)
<S> <C> <C>
ASSETS:
Investments in securities, at value-Note 1(a)........................... $583,204,364
Cash.................................................................... 3,789,215
Interest receivable..................................................... 4,218,873
Prepaid expenses........................................................ 70,092
______
591,282,544
LIABILITIES:
Due to The Dreyfus Corporation and affiliates........................... $ 277,661
Accrued expenses........................................................ 107,032 384,693
______ ______
NET ASSETS ................................................................ $590,897,851
=======
REPRESENTED BY:
Paid-in capital......................................................... $591,063,120
Accumulated net realized (loss) on investments.......................... (165,269)
______
NET ASSETS at value applicable to 591,063,120 shares outstanding
(2 billion shares of $.001 par value Common Stock authorized)........... $590,897,851
=======
NET ASSET VALUE, offering and redemption price per share
($590,897,851 / 591,063,120 shares)..................................... $1.00
===
STATEMENT OF OPERATIONS SIX MONTHS ENDED JULY 31, 1996 (UNAUDITED)
INVESTMENT INCOME:
INTEREST INCOME......................................................... $ 10,291,491
EXPENSES:
Management fee-Note 2(a).............................................. $1,544,929
Shareholder servicing costs-Note 2(b)................................. 343,326
Custodian fees........................................................ 28,426
Directors' fees and expenses-Note 2(c)................................ 18,224
Professional fees..................................................... 11,705
Prospectus and shareholders' reports.................................. 6,005
Registration fees..................................................... 3,396
Miscellaneous......................................................... 10,807
_____
TOTAL EXPENSES.................................................... 1,966,818
______
INVESTMENT INCOME-NET....................................................... 8,324,673
NET REALIZED (LOSS) ON INVESTMENTS-Note 1(b)................................ (6,861)
______
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS........................ $ 8,317,812
=======
See independent accountants' review report and notes to financial statements.
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
STATEMENT OF CHANGES IN NET ASSETS
YEAR ENDED SIX MONTHS ENDED
JANUARY 31, JULY 31, 1996
1996 (UNAUDITED)
________ _________
OPERATIONS:
Investment income-net............................................. $ 22,702,856 $ 8,324,673
Net realized (loss) on investments................................ (105,913) (6,861)
_______ ________
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS............ 22,596,943 8,317,812
_______ ________
DIVIDENDS TO SHAREHOLDERS FROM;
Investment income-net............................................. (22,702,856) (8,324,673)
_______ ________
CAPITAL STOCK TRANSACTIONS ($1.00 per share):
Net proceeds from shares sold..................................... 1,018,590,073 341,405,227
Dividends reinvested.............................................. 20,668,702 7,592,199
Cost of shares redeemed........................................... (1,164,508,518) (405,649,862)
_______ ________
(DECREASE) IN NET ASSETS FROM CAPITAL STOCK TRANSACTIONS........ (125,249,743) (56,652,436)
_______ ________
TOTAL (DECREASE) IN NET ASSETS.............................. (125,355,656) (56,659,297)
NET ASSETS:
Beginning of period............................................... 772,912,804 647,557,148
_______ ________
End of period..................................................... $ 647,557,148 $ 590,897,851
======== ========
</TABLE>
See independent accountants' review report and notes to financial statements.
<TABLE>
<CAPTION>
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 period indicated. This
information has been derived from the Fund's financial statements.
SIX MONTHS ENDED
YEAR ENDED JANUARY 31, JULY 31, 1996
__________________________________________________
PER SHARE DATA: 1992 1993 1994 1995 1996 (UNAUDITED)
---- ---- ---- ---- ---- ------
<S> <C> <C> <C> <C> <C> <C>
Net asset value, beginning of period.. $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
---- ---- ---- ---- ---- ------
INVESTMENT OPERATIONS;
Investment income-net................. .042 .027 .021 .025 .032 .013
---- ---- ---- ---- ---- ------
DISTRIBUTIONS;
Dividends from investment income-net.. (.042) (.027) (.021) (.025) (.032) (.013)
---- ---- ---- ---- ---- ------
Net asset value, end of period........ $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
==== ==== ==== ==== ==== ====
TOTAL INVESTMENT RETURN................... 4.22% 2.68% 2.12% 2.55% 3.25% 2.71%*
RATIOS/SUPPLEMENTAL DATA:
Ratio of expenses to average net assets .17% .32% .35% .42% .59% .63%*
Ratio of net investment income to average
net assets.......................... 4.14% 2.65% 2.10% 2.52% 3.21% 2.69%*
Decrease reflected in above expense ratios
due to undertakings by the Manager.. .45% .32% .30% .22% .06% --
Net Assets, end of period (000's Omitted) $823,739 $781,600 $778,236 $772,913 $647,557 $590,898
*Annualized.
</TABLE>
See independent accountants' review report and notes to financial statements.
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
NOTE 1-SIGNIFICANT ACCOUNTING POLICIES:
Dreyfus New Jersey Municipal Money Market Fund, Inc. (the "Fund") is
registered under the Investment Company Act of 1940 ("Act") as a
non-diversified open-end management investment company. The Fund's investment
objective is to provide investors with as high a level of current income
exempt from Federal and New Jersey income taxes consistent with the
preservation of capital and the maintenance of liquidity. 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. acts as the distributor of the Fund's shares, which are sold to the
public without a sales charge.
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 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. Interest income, adjusted
for amortization of premiums and original issue 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. Cost of investments represents amortized cost.
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 applicable provisions of the Internal
Revenue Code, and to make distributions of income and net realized capital
gain sufficient to relieve it from substantially all Federal income and
excise taxes.
The Fund has an unused capital loss carryover of approximately $158,000
available for Federal income tax purposes to be applied against future net
securities profits, if any, realized subsequent to January 31, 1996. If not
applied, $900 of the carryover expires in fiscal 2000, $2,300 expires in
fiscal 2002, $39,800 expires in fiscal 2003 and $115,000 expires in fiscal
2004.
At July 31, 1996, 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).
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) (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 for an expense reimbursement from the Manager should the Fund's
aggregate expenses, exclusive of taxes, brokerage, interest on borrowings and
extraordinary expenses, exceed the expense limitation of any state having
jurisdiction over the Fund for any full fiscal year. There was no expense
reimbursement for the six months ended July 31, 1996.
(B) Pursuant to the Fund's Shareholder Services Plan, the Fund reimburses
Dreyfus Service Corporation, a wholly-owned subsidiary of the Manager, an
amount not to exceed an annual rate of .25 of 1% of the value of the Fund's
average daily net assets 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 six months ended July 31, 1996, the Fund was charged an aggregate
of $141,324 pursuant to the Shareholder Services Plan.
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 $118,779 for the six months ended July 31, 1996.
(C) 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.
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
REVIEW REPORT OF ERNST & YOUNG LLP, INDEPENDENT ACCOUNTANTS
SHAREHOLDERS AND BOARD OF DIRECTORS
DREYFUS NEW JERSEY MUNICIPAL MONEY MARKET FUND, INC.
We have reviewed the accompanying statement of assets and liabilities of
Dreyfus New Jersey Municipal Money Market Fund, Inc., including the statement
of investments, as of July 31, 1996, and the related statements of operations
and changes in net assets and financial highlights for the six month period
ended July 31, 1996. These financial statements and financial highlights are
the responsibility of the Fund's management.
We conducted our review in accordance with standards established by the
American Institute of Certified Public Accountants. A review of interim
financial information consists principally of applying analytical procedures
to financial data, and making inquiries of persons responsible for financial
and accounting matters. It is substantially less in scope than an audit in
accordance with generally accepted auditing standards, which will be
performed for the full year with the objective of expressing an opinion
regarding the financial statements and financial highlights taken as a whole.
Accordingly, we do not express such an opinion.
Based on our review, we are not aware of any material modifications that
should be made to the interim financial statements and financial highlights
referred to above for them to be in conformity with generally accepted
accounting principles.
We have previously audited, in accordance with generally accepted
auditing standards, the statement of changes in net assets for the year ended
January 31, 1996 and financial highlights for each of the five years in the
period ended January 31, 1996 and in our report dated March 4, 1996, we
expressed an unqualified opinion on such statement of changes in net assets
and financial highlights.
[Ernst and Young LLP signature logo]
New York, New York
September 6, 1996
[Dreyfus lion "d" logo]
DREYFUS NEW JERSEY
MUNICIPAL 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. 758SA967
[Dreyfus logo]
New Jersey
Municipal
Money Market
Fund, Inc.
Semi-Annual Report
July 31, 1996
