<PAGE> PAGE 1
000 A000000 02/28/95
000 C000000 350900
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
"001 A000000 TEMPLETON SMALLER COMPANIES GROWTH FUND, INC."
001 B000000 811-3143
001 C000000 3055277591
"002 A000000 500 EAST BROWARD BLVD, SUITE 2100"
002 B000000 FT. LAUDERDALE
002 C000000 FL
002 D010000 33394
002 D020000 3091
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
"008 A000001 TEMPLETON INVESTMENT COUNSEL,INC."
008 B000001 A
008 C000001 801-15125
008 D010001 FORT LAUDERDALE
008 D020001 FL
008 D030001 33394
008 D040001 3091
"010 A000001 TEMPLETON GLOBAL INVESTORS, INC."
010 C010001 FORT LAUDERDALE
010 C020001 FL
010 C030001 33394
010 C040001 3091
"011 A000001 FRANKLIN TEMPLETON DISTRIBUTORS, INC."
011 B000001 8-5889
011 C010001 ST. PETERSBURG
011 C020001 FL
011 C030001 33701
011 C040001 3628
<PAGE> PAGE 2
"012 A000001 FRANKLIN TEMPLETON INVESTOR SERVICES, INC."
012 B000001 84-00000
012 C010001 ST. PETERSBURG
012 C020001 FL
012 C030001 33701
012 C040001 3628
013 A000001 MCGLADREY & PULLEN
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10036
015 A000001 THE CHASE MANHATTAN BANK N.A.
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10081
015 E010001 X
"015 A000002 CHASE MANHATTAN BANK, N.A."
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 E040002 X
015 A000003 THE CHASE MANHATTAN BANK AUSTRALIA LIMITED
015 B000003 S
015 C010003 SYDNEY
015 D010003 AUSTRALIA
015 D020003 2000
015 E040003 X
015 A000004 CREDITANSTALT - BANKVEREIN
015 B000004 S
015 C010004 VIENNA
015 D010004 AUSTRIA
015 D020004 A-1011
015 E040004 X
015 A000005 GENERALE BANK
015 B000005 S
015 C010005 BRUSSELS
015 D010005 BELGIUM
015 D020005 1000
015 E040005 X
015 A000006 BANCO CHASE MANHATTAN S.A.
015 B000006 S
015 C010006 SAO PAULO
015 D010006 BRAZIL
015 D020006 SP 04719-002
015 E040006 X
015 A000007 THE ROYAL BANK OF CANADA
015 B000007 S
015 C010007 TORONTO
015 D010007 CANADA
015 D020007 M5J-2J5
015 E040007 X
<PAGE> PAGE 3
015 A000008 CANADA TRUST
015 B000008 S
015 C010008 TORONTO
015 D010008 CANADA
015 D020008 M5J 2T2
015 E040008 X
015 A000009 STANDARD CHARTERED BANK
015 B000009 S
015 C010009 DHAKA
015 D010009 BANGLADESH
015 D020009 1000
015 E040009 X
015 A000010 DEN DANSKE BANK
015 B000010 S
015 C010010 COPENHAGEN
015 D010010 DENMARK
015 E040010 X
"015 A000012 THE CHASE MANHATTAN BANK, N.A."
015 B000012 S
015 C010012 LONDON
015 D010012 UNITED KINGDOM
015 D020012 EC2P 2HD
015 E040012 X
015 A000013 KANSALLIS-OSAKE-PANKKI
015 B000013 S
015 C010013 HELSINKI
015 D010013 FINLAND
015 D020013 00500
015 E040013 X
015 A000014 BANQUE PARIBAS
015 B000014 S
015 C010014 PARIS
015 D010014 FRANCE
015 D020014 75078
015 E040014 X
"015 A000015 CHASE BANK, A.G."
015 B000015 S
015 C010015 FRANKFURT
015 D010015 GERMANY
015 D020015 60441
015 E040015 X
015 A000016 BARCLAYS BANK PLC
015 B000016 S
015 C010016 ATHENS
015 D010016 GREECE
015 D020016 10562
015 E040016 X
"015 A000017 CHASE MANHATTAN BANK, N.A."
015 B000017 S
015 C010017 CENTRAL
015 D010017 HONG KONG
<PAGE> PAGE 4
015 E040017 X
015 A000018 HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000018 S
015 C010018 JAKARTA
015 D010018 INDONESIA
015 D020018 10023
015 E040018 X
015 A000019 BANK OF IRELAND
015 B000019 S
015 C010019 DUBLIN
015 D010019 IRELAND
015 D020019 1
015 E040019 X
"015 A000020 CHASE MANHATTAN BANK, N.A."
015 B000020 S
015 C010020 MILAN
015 D010020 ITALY
015 D020020 20121
015 E040020 X
"015 A000021 CHASE MANHATTAN BANK, N.A."
015 B000021 S
015 C010021 TOKYO
015 D010021 JAPAN
015 D020021 100
015 E040021 X
015 A000022 BANK LEUMI LE-ISRAEL B.M.
015 B000022 S
015 C010022 TEL AVIV
015 D010022 ISRAEL
015 D020022 65136
015 E040022 X
015 A000023 CESKOSLOVENSKA OBCHODNI BANKA
015 B000023 S
015 C010023 PRAHA
015 D010023 CZECH REPUBLIC
015 E040023 X
"015 A000024 CHASE MANHATTAN BANK, N.A."
015 B000024 S
015 C010024 KUALA LUMPUR
015 D010024 MALAYSIA
015 D020024 50250
015 E040024 X
"015 A000025 CHASE MANHATTAN BANK, N.A."
015 B000025 S
015 C010025 COL. LOMAS DE CHAP.
015 D010025 MEXICO
015 D020025 11000
015 E040025 X
015 A000026 ABN-AMRO N.V.
015 B000026 S
015 C010026 DE BREDA
<PAGE> PAGE 5
015 D010026 NETHERLANDS
015 D020026 4800
015 E040026 X
015 A000027 NATIONAL NOMINEES LIMITED
015 B000027 S
015 C010027 AUCKLAND
015 D010027 NEW ZEALAND
015 E040027 X
015 A000028 DEN NORSKE BANK
015 B000028 S
015 C010028 OSLO
015 D010028 NORWAY
015 D020028 1
015 E040028 X
015 A000029 HONG KONG & SHANGHAI BANKING CORP LTD
015 B000029 S
015 C010029 MANILA
015 D010029 PHILIPPINES
015 E040029 X
015 A000030 BANCO ESPIRITO SANTO E COMMERCIAL DE LISBOA
015 B000030 S
015 C010030 LISBON
015 D010030 PORTUGAL
015 D020030 1200
015 E040030 X
"015 A000031 CHASE MANHATTAN BANK, N.A."
015 B000031 S
015 C010031 SINGAPORE
015 D010031 SINGAPORE
015 D020031 0104
015 E040031 X
015 A000032 CHASE MANHATTAN BANK N.A.
015 B000032 S
015 C010032 MADRID
015 D010032 SPAIN
015 D020032 28042
015 E040032 X
015 A000033 HONG KONG & SHANGHAI BANKING CORP. LTD.
015 B000033 S
015 C010033 COLOMBO
015 D010033 SRI LANKA
015 D020033 1
015 E040033 X
015 A000034 SKANDINAVISKA ENSKILDA BANKEN
015 B000034 S
015 C010034 STOCKHOLM
015 D010034 SWEDEN
015 D020034 S-106 40
015 E040034 X
015 A000035 UNION BANK OF SWITZERLAND
015 B000035 S
<PAGE> PAGE 6
015 C010035 ZURICH
015 D010035 SWITZERLAND
015 D020035 8021
015 E040035 X
"015 A000036 CHASE MANHATTAN BANK, N.A."
015 B000036 S
015 C010036 BANGKOK
015 D010036 THAILAND
015 D020036 10500
015 E040036 X
"015 A000037 CITIBANK, N.A."
015 B000037 S
015 C010037 LIMA
015 D010037 PERU
015 D020037 27
015 E040037 X
"015 A000038 CITIBANK, N.A."
015 B000038 S
015 C010038 CARACAS
015 D010038 VENEZUELA
015 D020038 1010
015 E040038 X
"015 A000039 CHASE MANHATTAN BANK, N.A."
015 B000039 S
015 C010039 ISTANBUL
015 D010039 TURKEY
015 D020039 80700
015 E040039 X
015 A000040 STANDARD BANK OF SOUTH AFRICA
015 B000040 S
015 C010040 JOHANNESBURG
015 D010040 SOUTH AFRICA
015 D020040 2001
015 E040040 X
015 A000041 HONG KONG AND SHANGHAI BANKING CORP LTD
015 B000041 S
015 C010041 SEOUL
015 D010041 SOUTH KOREA
015 E040041 X
015 A000042 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B000042 S
015 C010042 SHANGHAI
015 D010042 CHINA
015 E040042 X
015 A000043 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B000043 S
015 C010043 SHENZHEN
015 D010043 CHINA
015 E040043 X
015 A000044 THE FIRST NATIONAL BANK OF BOSTON
015 B000044 S
<PAGE> PAGE 7
015 C010044 MONTEVIDEO
015 D010044 URUGUAY
015 E040044 X
015 A000045 NATIONAL BANK OF EGYPT
015 B000045 S
015 C010045 CAIRO
015 D010045 EGYPT
015 E040045 X
015 A000046 BARCLAYS BANK OF GHANA
015 B000046 S
015 C010046 ACCRA
015 D010046 GHANA
015 E040046 X
015 A000047 HONG KONG AND SHANGHAI BANKING CORP. LTD.
015 B000047 S
015 C010047 PORT LOUIS
015 D010047 MAURITIUS
015 E040047 X
015 A000048 BANQUE COMMERCIALE DE MAROC
015 B000048 S
015 C010048 CASABLANCA
015 D010048 MOROCCO
015 D020048 01
015 E040048 X
015 A000049 BARCLAYS BANK OF ZIMBABWE
015 B000049 S
015 C010049 HARARE
015 D010049 ZIMBABWE
015 E040049 X
015 A000053 CEDEL S.A.
015 B000053 S
015 C010053 LUXEMBOURG
015 D010053 LUXEMBOURG
015 E040053 X
015 A000054 FIRST CHICAGO CLEARING CENTRE
015 B000054 S
015 C010054 LONDON
015 D010054 UNITED KINGDOM
015 D020054 EC3A 1AA
015 E040054 X
015 A000055 RESERVE BANK
015 B000055 S
015 C010055 SYDNEY
015 D010055 AUSTRALIA
015 E040055 X
015 A000057 DELETE
018 000000 Y
019 A000000 Y
019 B000000 187
019 C000000 FRNKTEMGRP
"020 A000001 SMITH BARNEY, HARRIS, UPHAM & CO. INC"
<PAGE> PAGE 8
020 B000001 13-1912900
020 C000001 263
020 A000002 ROBINSON HUMPHREY
020 B000002 58-1472560
020 C000002 121
"020 A000003 CROSBY SECURITIES, INC."
020 B000003 13-3662490
020 C000003 59
"020 A000004 GOLMAN, SACHS & CO."
020 B000004 13-5108880
020 C000004 55
020 A000005 MONTGOMERY SECURITIES
020 B000005 94-1701676
020 C000005 41
"020 A000006 DONALDSON, LUFKIN & JENRETTE SECURITIES"
020 B000006 13-2741729
020 C000006 38
020 A000007 WERTHEIM SCHRODER
020 B000007 13-2697272
020 C000007 37
020 A000008 NATWEST SECURITIES CORP.
020 B000008 13-3312778
020 C000008 34
020 A000009 SOCIETE GENERALE SECURITIES
020 B000009 13-1976032
020 C000009 33
020 A000010 INSTINET/CROSSING NETWORK
020 B000010 13-3443395
020 C000010 32
021 000000 1298
"022 A000001 CHASE MANHATTAN BANK, N.A."
022 B000001 13-2633612
022 C000001 535479
022 D000001 125045
022 A000002 ROBINSON HUMPHREY
022 B000002 58-1472560
022 C000002 15550
022 D000002 571
"022 A000003 SMITH BARNEY, HARRIS, UPMAN & CO. INC"
022 B000003 13-1912900
022 C000003 8350
022 D000003 1075
022 A000004 MONTGOMERY SECURITIES
022 B000004 94-1701676
022 C000004 238
022 D000004 7541
022 A000005 S.G. WARBURG
022 B000005 13-3340045
022 C000005 7498
022 D000005 0
"022 A000006 GOLDMAN, SACHS & CO."
<PAGE> PAGE 9
022 B000006 13-5108880
022 C000006 5852
022 D000006 0
022 A000007 FIRST BOSTON CORP.
022 B000007 13-5659485
022 C000007 5555
022 D000007 0
022 A000008 LEHMAN BROTHERS
022 B000008 13-2518466
022 C000008 0
022 D000008 3170
"022 A000009 MERRILL LYNH, PIERCE, FENNER & SMITH INC."
022 B000009 13-5674085
022 C000009 923
022 D000009 1766
"022 A000010 ALEX BROWN & SONS, INC."
022 B000010 52-1319768
022 C000010 2616
022 D000010 0
023 C000000 585009
023 D000000 148639
024 000000 Y
025 A000001 ALEX BROWN & SONS CO.
025 B000001 52-0256630
025 C000001 E
025 D000001 7600
025 A000002 HOARE GOVETT
025 B000002 13-3121100
025 C000002 E
025 D000002 1387
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
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025 D000015 0
025 D000016 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
<PAGE> PAGE 10
026 G020000 N
026 H000000 Y
027 000000 Y
028 A010000 18718
028 A020000 0
028 A030000 0
028 A040000 28127
028 B010000 8118
028 B020000 11075
028 B030000 0
028 B040000 10401
028 C010000 7148
028 C020000 -278
028 C030000 0
028 C040000 13932
028 D010000 8220
028 D020000 17788
028 D030000 0
028 D040000 13344
028 E010000 7722
028 E020000 -312
028 E030000 0
028 E040000 14264
028 F010000 8125
028 F020000 3
028 F030000 0
028 F040000 16001
028 G010000 58051
028 G020000 28276
028 G030000 0
028 G040000 96069
028 H000000 26602
028 A01AA00 7209
028 A02AA00 0
028 A03AA00 0
028 A04AA00 10505
028 B01AA00 12518
028 B02AA00 54572
028 B03AA00 0
028 B04AA00 9747
028 C01AA00 10381
028 C02AA00 -1
028 C03AA00 0
028 C04AA00 10235
028 D01AA00 9723
028 D02AA00 27930
028 D03AA00 0
028 D04AA00 14826
028 E01AA00 16232
028 E02AA00 -1065
028 E03AA00 0
<PAGE> PAGE 11
028 E04AA00 10964
028 F01AA00 15297
028 F02AA00 -1
028 F03AA00 0
028 F04AA00 9457
028 G01AA00 71360
028 G02AA00 81435
028 G03AA00 0
028 G04AA00 65734
028 H00AA00 40637
029 000000 Y
030 A000000 1282
030 B000000 5.75
030 C000000 0.00
031 A000000 214
031 B000000 0
032 000000 1068
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
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042 D000000 0
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042 H000000 100
043 000000 1441
044 000000 74864
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.750
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048 B010000 0
048 B020000 0.000
048 C010000 0
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048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
<PAGE> PAGE 12
048 F020000 0.000
048 G010000 0
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048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
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056 000000 Y
057 000000 N
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059 000000 Y
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061 000000 100
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062 D000000 0.0
062 E000000 0.0
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062 J000000 0.0
062 K000000 0.0
<PAGE> PAGE 13
062 L000000 0.0
062 M000000 0.0
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062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
<PAGE> PAGE 14
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 129065
071 B000000 181865
071 C000000 1156580
071 D000000 11
072 A000000 6
072 B000000 4945
072 C000000 10418
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072 J000000 320
072 K000000 155
072 L000000 153
072 M000000 25
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072 Q000000 0
072 R000000 26
072 S000000 40
072 T000000 1626
072 U000000 0
072 V000000 0
072 W000000 27
072 X000000 8841
072 Y000000 0
072 Z000000 6522
072AA000000 60533
072BB000000 20346
072CC010000 160460
072CC020000 0
072DD010000 17800
072DD020000 0
072EE000000 15254
073 A010000 0.1050
073 A020000 0.0000
073 B000000 0.0900
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 183297
074 D000000 30566
074 E000000 27009
<PAGE> PAGE 15
074 F000000 1012305
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 1856
074 K000000 0
074 L000000 4277
074 M000000 0
074 N000000 1259310
074 O000000 2150
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 4198
074 S000000 0
074 T000000 1252962
074 U010000 169766
074 U020000 0
074 V010000 7.38
074 V020000 0.00
074 W000000 0.0000
074 X000000 118897
074 Y000000 0
075 A000000 0
075 B000000 1311668
076 000000 0.00
077 A000000 N
078 000000 N
080 C000000 0
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083 B000000 0
084 B000000 0
086 A010000 0
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086 E010000 0
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086 F010000 0
086 F020000 0
SIGNATURE JAMES R. BAIO
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON SMALLER COMPANIES GROWTH FUND, INC. FEBRUARY 28,1995 SEMI-
ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1994
<PERIOD-END> FEB-28-1995
<INVESTMENTS-AT-COST> 1074671454
<INVESTMENTS-AT-VALUE> 1253176745
<RECEIVABLES> 6133378
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1259310123
<PAYABLE-FOR-SECURITIES> 2149581
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4198710
<TOTAL-LIABILITIES> 6348291
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1045970198
<SHARES-COMMON-STOCK> 169766491
<SHARES-COMMON-PRIOR> 170974993
<ACCUMULATED-NII-CURRENT> 1352694
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 27133649
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 178505291
<NET-ASSETS> 1252961832
<DIVIDEND-INCOME> 10418378
<INTEREST-INCOME> 4944899
<OTHER-INCOME> 0
<EXPENSES-NET> 8841472
<NET-INVESTMENT-INCOME> 6521805
<REALIZED-GAINS-CURRENT> 40186559
<APPREC-INCREASE-CURRENT> (160460342)
<NET-CHANGE-FROM-OPS> (113751978)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (17799525)
<DISTRIBUTIONS-OF-GAINS> (15254111)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7465101
<NUMBER-OF-SHARES-REDEEMED> (12426708)
<SHARES-REINVESTED> 3753105
<NET-CHANGE-IN-ASSETS> (156532385)
<ACCUMULATED-NII-PRIOR> 12630414
<ACCUMULATED-GAINS-PRIOR> 2201201
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4878654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8841472
<AVERAGE-NET-ASSETS> 1311668444
<PER-SHARE-NAV-BEGIN> 8.24
<PER-SHARE-NII> 04
<PER-SHARE-GAIN-APPREC> (.70)
<PER-SHARE-DIVIDEND> (.11)
<PER-SHARE-DISTRIBUTIONS> (.09)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.38
<EXPENSE-RATIO> 1.36
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
