GABELLI MONEY MARKET FUNDS
24F-2NT, 1999-12-28
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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:

The Gabelli Money Market Funds
One Corporate Center
Rye, New York 10580-1434

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:

811-6687

	Securities Act File Number:
33-48220

4(a).	Last day of fiscal year for which this Form is filed:

September 30, 1999

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).	____	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):	$	2,192,853,522

(ii)	Aggregate price of securities redeemed or
	repurchased during the fiscal year:	$	2,027,147,677

(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:	$	0

(iv)	Total available redemption credits
	(add Items 5(ii) and 5(iii):	$	2,027,147,677

(v)	Net sales - if Item 5(i) is greater than Item 5(iv)
	[subtract Item 5(iv) from Item 5(i)]:	$	165,705,845

(vi)	Redemption credits available for use in future
	years - if Item 5(i) is less than Item 5(iv)
	[subtract Item 5(iv) from Item 5(i)]:	$	0

(vii)	Multiplier for determining registration fee
(See Instruction C.9):	x	.000264

(viii)	Registration fee due [multiply Item 5(v) by
Item 5(vii)] (enter "0" if no fee is due):	=	43,746.34

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: 0. 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:
0.

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):	+$
	0

8.	Total of the amount of the registration fee due plus any
interest due
	[line 5(viii) plus line 7]:	=$	43,746.34

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

	Method of Delivery:

		  X  	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 date indicated.

By (Signature and Title)*


/s/ Bruce N. Alpert

	Name: Bruce N. Alpert
	Title:   Vice President and Treasurer


Date:   December 17, 1999


*Please print the name and title of the signing officer below the
signature.





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