<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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015 A000145 STANDARD CHARTERED BANK (SCB)
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015 D010145 SRI LANKA
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 17
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015 D010206 BANGLADESH
015 E040206 X
015 A000207 BANQUE BRUXELLES LAMBERT (BBL)
015 B000207 S
015 C010207 BRUSSELS
015 D010207 BELGIUM
015 E040207 X
015 A000208 THE FIRST NATIONAL BANK OF BOSTON
015 B000208 S
015 C010208 SAO PAULO
015 D010208 BRAZIL
015 E040208 X
015 A000209 ROYAL BANK OF CANADA
015 B000209 S
015 C010209 MONTREAL
015 D010209 CANADA
015 E040209 X
015 A000210 THE FIRST NATIONAL BANK OF BOSTON
015 B000210 S
015 C010210 SANTIAGO
015 D010210 CHILE
015 E040210 X
015 A000211 BANCO DE CHILE
015 B000211 S
015 C010211 SANTIAGO
015 D010211 CHILE
015 E040211 X
015 A000212 THE STANDARD CHARTERED BANK, HONG KONG
<PAGE> PAGE 18
015 B000212 S
015 C010212 HONG KONG
015 D010212 CHINA
015 E040212 X
015 A000213 STANBIC BANK BOTSWANA LIMITED (STANBIC)
015 B000213 S
015 C010213 GABARONE
015 D010213 BOTSWANA
015 E040213 X
015 A000214 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000214 S
015 C010214 BOGOTA
015 D010214 COLOMBIA
015 E040214 X
015 A000215 CESKOSLOVENSKA OBCHODNI BANKA A.S. (CSOB)
015 B000215 S
015 C010215 PRAHA (PRAGUE)
015 D010215 CZECH REPUBLIC
015 E040215 X
015 A000216 DEN DANSKE BANK
015 B000216 S
015 C010216 COPENHAGEN
015 D010216 DENMARK
015 E040216 X
015 A000217 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000217 S
015 C010217 LUXEMBOURG CITY
015 D010217 LUXEMBOURG
015 E040217 X
015 A000218 CEDEL (DEPOSITORY)
015 B000218 S
015 C010218 LUXEMBOURG CITY
015 D010218 LUXEMBOURG
015 E040218 X
015 A000219 MERITA BANK LTD. (MB)
015 B000219 S
015 C010219 HELSINKI
015 D010219 FINLAND
015 E040219 X
015 A000220 BANQUE PARIBAS
015 B000220 S
015 C010220 PARIS
015 D010220 FRANCE
015 E040220 X
015 A000221 DRESDNER BANK AG
015 B000221 S
015 C010221 FRANKFURT/MAIN
015 D010221 GERMANY
015 E040221 X
015 A000222 NATIONAL BANK OF GREECE SA
015 B000222 S
<PAGE> PAGE 19
015 C010222 ATHENS
015 D010222 GREECE
015 E040222 X
015 A000223 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000223 S
015 C010223 HONG KONG
015 D010223 HONG KONG
015 E040223 X
015 A000224 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000224 S
015 C010224 MUMBAI
015 D010224 INDIA
015 E040224 X
015 A000225 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000225 S
015 C010225 JAKARTA
015 D010225 INDONESIA
015 E040225 X
015 A000226 ALLIED IRISH BANKS, PLC (AIB)
015 B000226 S
015 C010226 DUBLIN
015 D010226 IRELAND
015 E040226 X
015 A000227 BANK LEUMI LE-ISRAEL B.M.
015 B000227 S
015 C010227 TEL AVIV
015 D010227 ISRAEL
015 E040227 X
015 A000228 BANCA COMMERCIALE ITALIANA (BCI)
015 B000228 S
015 C010228 MILAN
015 D010228 ITALY
015 E040228 X
015 A000229 BANK OF TOKYO MITSUBISHI (BTM)
015 B000229 S
015 C010229 TOKYO
015 D010229 JAPAN
015 E040229 X
015 A000230 THE HONGKONG BANK MALAYSIA BERHAD (HBMB)
015 B000230 S
015 C010230 KUALA LUMPUR
015 D010230 MALAYSIA
015 E040230 X
015 A000231 BANCO NACIONAL DE MEXICO
015 B000231 S
015 C010231 MEXICO CITY
015 D010231 MEXICO
015 E040231 X
015 A000232 BANQUE COMMERCIALE DU MAROC (BCM)
015 B000232 S
015 C010232 CASABLANCA
<PAGE> PAGE 20
015 D010232 MOROCCO
015 E040232 X
015 A000233 MEESPIERSON
015 B000233 S
015 C010233 AMSTERDAM
015 D010233 NETHERLANDS
015 E040233 X
015 A000234 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
015 B000234 S
015 C010234 WELLINGTON
015 D010234 NEW ZEALAND
015 E040234 X
015 A000235 DEN NORSKE BANK ASA
015 B000235 S
015 C010235 OSLO
015 D010235 NORWAY
015 E040235 X
015 A000236 STANDARD CHARTERED BANK (SCB)
015 B000236 S
015 C010236 KARACHI
015 D010236 PAKISTAN
015 E040236 X
015 A000237 CITIBANK, N.A.
015 B000237 S
015 C010237 LIMA
015 D010237 PERU
015 E040237 X
015 A000238 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000238 S
015 C010238 PASIG CITY
015 D010238 PHILIPPINES
015 E040238 X
015 A000239 BANK HANDLOWY W WARSZAWIE S.A.
015 B000239 S
015 C010239 WARSAW
015 D010239 POLAND
015 E040239 X
015 A000240 BANCO COMERCIAL PORTUGUES, S.A. (BCP)
015 B000240 S
015 C010240 LISBON
015 D010240 PORTUGAL
015 E040240 X
015 A000241 UNITED OVERSEAS BANK LIMITED (UOB)
015 B000241 S
015 C010241 SINGAPORE
015 D010241 SINGAPORE
015 E040241 X
015 A000242 STANDARD CORPORATE AND MERCHANT BANK (SCMB)
015 B000242 S
015 C010242 JOHANNESBURG
015 D010242 SOUTH AFRICA
<PAGE> PAGE 21
015 E040242 X
015 A000243 SEOULBANK (SB)
015 B000243 S
015 C010243 SEOUL
015 D010243 SOUTH KOREA
015 E040243 X
015 A000244 BANCO BILBAO VIZCAYA (BBV)
015 B000244 S
015 C010244 MADRID
015 D010244 SPAIN
015 E040244 X
015 A000245 STANDARD CHARTERED BANK (SCB)
015 B000245 S
015 C010245 COLOMBO
015 D010245 SRI LANKA
015 E040245 X
015 A000246 SKANDINAVISKA ENSKILDA BANKEN (SEB)
015 B000246 S
015 C010246 STOCKHOLM
015 D010246 SWEDEN
015 E040246 X
015 A000247 UNION BANK OF SWITZERLAND
015 B000247 S
015 C010247 ZURICH
015 D010247 SWITZERLAND
015 E040247 X
015 A000248 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000248 S
015 C010248 TAIPEI
015 D010248 TAIWAN (ROC)
015 E040248 X
015 A000249 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD
015 B000249 S
015 C010249 BANGKOK
015 D010249 THAILAND
015 E040249 X
015 A000250 OSMANLI BANKASI A.S.(OTTOMAN BANK)
015 B000250 S
015 C010250 ISTANBUL
015 D010250 TURKEY
015 E040250 X
015 A000251 THE BANK OF NEW YORK
015 B000251 S
015 C010251 LONDON
015 D010251 UNITED KINGDOM
015 E040251 X
015 A000252 THE FIRST NATIONAL BANK OF BOSTON
015 B000252 S
015 C010252 MONTEVIDEO
015 D010252 URUGUAY
015 E040252 X
<PAGE> PAGE 22
015 A000253 CITIBANK, N.A.
015 B000253 S
015 C010253 CARACAS
015 D010253 VENEZUELA
015 E040253 X
015 A000254 DELETE
015 A000255 CITIBANK BUDAPEST RT.
015 B000255 S
015 C010255 BUDAPEST
015 D010255 HUNGARY
015 E040255 X
015 A000256 CITIBANK, N.A.
015 B000256 S
015 C010256 QUITO
015 D010256 ECUADOR
015 E040256 X
015 A000257 CITIBANK, N.A. - EGYPT BRANCH
015 B000257 S
015 C010257 CAIRO
015 D010257 EGYPT
015 E040257 X
015 A000258 MERCHANT BANK (GHANA) LIMITED
015 B000258 S
015 C010258 ACCRA
015 D010258 GHANA
015 E040258 X
015 A000259 CREDIT COMMERCIAL DE FRANCE
015 B000259 S
015 C010259 PARIS
015 D010259 FRANCE
015 E040259 X
015 A000260 BANQUE PARIBAS SA
015 B000260 S
015 C010260 MILAN
015 D010260 ITALY
015 E040260 X
015 A000261 THE BRITISH BANK OF THE MIDDLE EAST
015 B000261 S
015 C010261 AMMAN
015 D010261 JORDAN
015 E040261 X
015 A000262 JASDEC (DEPOSITORY)
015 B000262 S
015 C010262 TOKYO
015 D010262 JAPAN
015 E040262 X
015 A000263 STANBIC BANK KENYA LIMITED (STANBIC)
015 B000263 S
015 C010263 NAIROBI
015 D010263 KENYA
015 E040263 X
<PAGE> PAGE 23
015 A000264 STANBIC BANK NAMIBIA LIMITED (STANBIC)
015 B000264 S
015 C010264 WINDHOEK
015 D010264 NAMIBIA
015 E040264 X
015 A000265 STANBIC MERCHANT BANK NIGERIA LTD (STANBIC)
015 B000265 S
015 C010265 LAGOS
015 D010265 NIGERIA
015 E040265 X
015 A000266 DEVELOPMENT BANK OF SINGAPORE
015 B000266 S
015 C010266 SINGAPORE
015 D010266 SINGAPORE
015 E040266 X
015 A000267 CESKOSLOVENSKA OBCHODNA BANKA AS (CSOB)
015 B000267 S
015 C010267 BRATISLAVA
015 D010267 SLOVAK REPUBLIC
015 E040267 X
015 A000268 STANBIC BANK SWAZILAND LIMITED (STANBIC)
015 B000268 S
015 C010268 MBABANE
015 D010268 SWAZILAND
015 E040268 X
015 A000269 BANK LEU LTD.
015 B000269 S
015 C010269 ZURICH
015 D010269 SWITZERLAND
015 E040269 X
015 A000270 BANGKOK BANK PUBLIC COMPANY LTD.
015 B000270 S
015 C010270 BANGKOK
015 D010270 THAILAND
015 E040270 X
015 A000271 FIRST CHICAGO CLEARING CENTRE (FCCC)
015 B000271 S
015 C010271 LONDON
015 D010271 UNITED KINGDOM
015 E040271 X
015 A000272 STANBIC BANK ZAMBIA LIMITED (STANBIC)
015 B000272 S
015 C010272 LUSAKA
015 D010272 ZAMBIA
015 E040272 X
015 A000273 STANBIC BANK ZIMBABWE LIMITED (STANBIC)
015 B000273 S
015 C010273 HARARE
015 D010273 ZIMBABWE
015 E040273 X
015 A000274 KAS - ASSOCIATIE NV
<PAGE> PAGE 24
015 B000274 S
015 C010274 AMSTERDAM
015 D010274 NETHERLANDS
015 E040274 X
015 A000275 THE PHILIPPPINE CENTRAL DEPOSITORY, INC.
015 B000275 S
015 C010275 MAKATI CITY
015 D010275 PHILIPPINES
015 E040275 X
028 A010200 13013
028 A020200 0
028 A030200 0
028 A040200 8249
028 B010200 8536
028 B020200 0
028 B030200 0
028 B040200 6051
028 C010200 7836
028 C020200 0
028 C030200 0
028 C040200 3679
028 D010200 19421
028 D020200 1
028 D030200 0
028 D040200 7075
028 E010200 16810
028 E020200 0
028 E030200 0
028 E040200 11344
028 F010200 9633
028 F020200 0
028 F030200 0
028 F040200 4289
028 G010200 75249
028 G020200 1
028 G030200 0
028 G040200 40687
028 H000200 75249
029 000200 Y
030 A000200 682
030 B000200 4.50
030 C000200 0.00
031 A000200 36
031 B000200 0
032 000200 646
033 000200 0
034 000200 Y
035 000200 1
036 A000200 N
036 B000200 0
037 000200 N
<PAGE> PAGE 25
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 100
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 275
044 000200 25
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 Y
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
<PAGE> PAGE 26
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 5687
071 B000200 14416
071 C000200 101728
071 D000200 6
072 A000200 12
072 B000200 2061
072 C000200 455
072 D000200 0
072 E000200 0
072 F000200 840
072 G000200 0
072 H000200 0
072 I000200 224
072 J000200 1
072 K000200 43
072 L000200 14
072 M000200 2
072 N000200 29
072 O000200 0
072 P000200 0
072 Q000200 0
<PAGE> PAGE 27
072 R000200 2
072 S000200 1
072 T000200 314
072 U000200 0
072 V000200 0
072 W000200 3
072 X000200 1473
072 Y000200 0
072 Z000200 1043
072AA000200 8381
072BB000200 1431
072CC010200 33475
072CC020200 0
072DD010200 415
072DD020200 0
072EE000200 3015
073 A010200 0.0550
073 A020200 0.0563
073 B000200 0.3990
073 C000200 0.0000
074 A000200 268
074 B000200 71941
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 118806
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 474
074 K000200 0
074 L000200 580
074 M000200 0
074 N000200 192069
074 O000200 0
074 P000200 187
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 395
074 S000200 0
074 T000200 191487
074 U010200 10177
074 U020200 185
074 V010200 18.48
074 V020200 18.30
074 W000200 0.0000
074 X000200 17645
074 Y000200 0
075 A000200 0
<PAGE> PAGE 28
075 B000200 140140
076 000200 0.00
008 A000301 FRANKLIN ADVISERS, INC.
008 B000301 A
008 C000301 801-26292
008 D010301 SAN MATEO
008 D020301 CA
008 D030301 94404
008 D040301 1585
015 A000301 DELETE
015 A000302 THE BANK OF NEW YORK
015 B000302 C
015 C010302 NEW YORK
015 C020302 NY
015 C030302 10286
015 E010302 X
015 A000303 THE BANK OF BOSTON
015 B000303 S
015 C010303 BUENOS AIRES
015 D010303 ARGENTINA
015 E040303 X
015 A000304 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
015 B000304 S
015 C010304 MELBOURNE
015 D010304 AUSTRALIA
015 E040304 X
015 A000305 CREDITANSTALT BANKVEREIN
015 B000305 S
015 C010305 VIENNA
015 D010305 AUSTRIA
015 E040305 X
015 A000306 STANDARD CHARTERED BANK PLC (SCB)
015 B000306 S
015 C010306 DHAKA
015 D010306 BANGLADESH
015 E040306 X
015 A000307 BANQUE BRUXELLES LAMBERT (BBL)
015 B000307 S
015 C010307 BRUSSELS
015 D010307 BELGIUM
015 E040307 X
015 A000308 THE FIRST NATIONAL BANK OF BOSTON
015 B000308 S
015 C010308 SAO PAULO
015 D010308 BRAZIL
015 E040308 X
015 A000309 ROYAL BANK OF CANADA
015 B000309 S
015 C010309 MONTREAL
015 D010309 CANADA
015 E040309 X
<PAGE> PAGE 29
015 A000310 THE FIRST NATIONAL BANK OF BOSTON
015 B000310 S
015 C010310 SANTIAGO
015 D010310 CHILE
015 E040310 X
015 A000311 BANCO DE CHILE
015 B000311 S
015 C010311 SANTIAGO
015 D010311 CHILE
015 E040311 X
015 A000312 THE STANDARD CHARTERED BANK, HONG KONG
015 B000312 S
015 C010312 HONG KONG
015 D010312 CHINA
015 E040312 X
015 A000313 STANBIC BANK BOTSWANA LIMITED (STANBIC)
015 B000313 S
015 C010313 GABARONE
015 D010313 BOTSWANA
015 E040313 X
015 A000314 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000314 S
015 C010314 BOGOTA
015 D010314 COLOMBIA
015 E040314 X
015 A000315 DEN DANSKE BANK
015 B000315 S
015 C010315 COPENHAGEN
015 D010315 DENMARK
015 E040315 X
015 A000316 CEDEL (DEPOSITORY)
015 B000316 S
015 C010316 LUXEMBOURG CITY
015 D010316 LUXEMBOURG
015 E040316 X
015 A000317 BANQUE INTERNATIONALE A LUXEMBOURG
015 B000317 S
015 C010317 LUXEMBOURG CITY
015 D010317 LUXEMBOURG
015 E040317 X
015 A000318 MERITA BANK LTD. (MB)
015 B000318 S
015 C010318 HELSINKI
015 D010318 FINLAND
015 E040318 X
015 A000319 BANQUE PARIBAS
015 B000319 S
015 C010319 PARIS
015 D010319 FRANCE
015 E040319 X
015 A000320 DRESDNER BANK AG
<PAGE> PAGE 30
015 B000320 S
015 C010320 FRANKFURT/MAIN
015 D010320 GERMANY
015 E040320 X
015 A000321 NATIONAL BANK OF GREECE SA
015 B000321 S
015 C010321 ATHENS
015 D010321 GREECE
015 E040321 X
015 A000322 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000322 S
015 C010322 HONG KONG
015 D010322 HONG KONG
015 E040322 X
015 A000323 CITIBANK BUDAPEST RT.
015 B000323 S
015 C010323 BUDAPEST
015 D010323 HUNGARY
015 E040323 X
015 A000324 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000324 S
015 C010324 MUMBAI
015 D010324 INDIA
015 E040324 X
015 A000325 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000325 S
015 C010325 JAKARTA
015 D010325 INDONESIA
015 E040325 X
015 A000326 ALLIED IRISH BANKS, PLC (AIB)
015 B000326 S
015 C010326 DUBLIN
015 D010326 IRELAND
015 E040326 X
015 A000327 BANK LEUMI LE-ISRAEL B.M.
015 B000327 S
015 C010327 TEL AVIV
015 D010327 ISRAEL
015 E040327 X
015 A000328 BANCA COMMERCIALE ITALIANA (BCI)
015 B000328 S
015 C010328 MILAN
015 D010328 ITALY
015 E040328 X
015 A000329 BANK OF TOKYO MITSUBISHI (BTM)
015 B000329 S
015 C010329 TOKYO
015 D010329 JAPAN
015 E040329 X
015 A000330 THE HONGKONG BANK MALAYSIA BERHAD (HBMB)
015 B000330 S
<PAGE> PAGE 31
015 C010330 KUALA LUMPUR
015 D010330 MALAYSIA
015 E040330 X
015 A000331 BANCO NACIONAL DE MEXICO
015 B000331 S
015 C010331 MEXICO CITY
015 D010331 MEXICO
015 E040331 X
015 A000332 BANQUE COMMERCIALE DU MAROC (BCM)
015 B000332 S
015 C010332 CASABLANCA
015 D010332 MOROCCO
015 E040332 X
015 A000333 MEESPIERSON
015 B000333 S
015 C010333 AMSTERDAM
015 D010333 NETHERLANDS
015 E040333 X
015 A000334 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
015 B000334 S
015 C010334 WELLINGTON
015 D010334 NEW ZEALAND
015 E040334 X
015 A000335 DEN NORSKE BANK ASA
015 B000335 S
015 C010335 OSLO
015 D010335 NORWAY
015 E040335 X
015 A000336 STANDARD CHARTERED BANK (SCB)
015 B000336 S
015 C010336 KARACHI
015 D010336 PAKISTAN
015 E040336 X
015 A000337 CITIBANK, N.A.
015 B000337 S
015 C010337 LIMA
015 D010337 PERU
015 E040337 X
015 A000338 DELETE
015 A000339 BANK HANDLOWY W WARSZAWIE S.A.
015 B000339 S
015 C010339 WARSAW
015 D010339 POLAND
015 E040339 X
015 A000340 BANCO COMERCIAL PORTUGUES, S.A. (BCP)
015 B000340 S
015 C010340 LISBON
015 D010340 PORTUGAL
015 E040340 X
015 A000341 UNITED OVERSEAS BANK LIMITED (UOB)
015 B000341 S
<PAGE> PAGE 32
015 C010341 SINGAPORE
015 D010341 SINGAPORE
015 E040341 X
015 A000342 STANDARD CORPORATE AND MERCHANT BANK (SCMB)
015 B000342 S
015 C010342 JOHANNESBURG
015 D010342 SOUTH AFRICA
015 E040342 X
015 A000343 SEOULBANK (SB)
015 B000343 S
015 C010343 SEOUL
015 D010343 SOUTH KOREA
015 E040343 X
015 A000344 BANCO BILBAO VIZCAYA (BBV)
015 B000344 S
015 C010344 MADRID
015 D010344 SPAIN
015 E040344 X
015 A000345 STANDARD CHARTERED BANK (SCB)
015 B000345 S
015 C010345 COLOMBO
015 D010345 SRI LANKA
015 E040345 X
015 A000346 SKANDINAVISKA ENSKILDA BANKEN (SEB)
015 B000346 S
015 C010346 STOCKHOLM
015 D010346 SWEDEN
015 E040346 X
015 A000347 UNION BANK OF SWITZERLAND
015 B000347 S
015 C010347 ZURICH
015 D010347 SWITZERLAND
015 E040347 X
015 A000348 THE HONGKONG AND SHANGHAI BANKING CORP., LTD
015 B000348 S
015 C010348 TAIPEI
015 D010348 TAIWAN (ROC)
015 E040348 X
015 A000349 THE SIAM COMMERCIAL BANK PUBLIC COMPANY LTD
015 B000349 S
015 C010349 BANGKOK
015 D010349 THAILAND
015 E040349 X
015 A000350 OSMANLI BANKASI A.S.(OTTOMAN BANK)
015 B000350 S
015 C010350 ISTANBUL
015 D010350 TURKEY
015 E040350 X
015 A000351 THE BANK OF NEW YORK
015 B000351 S
015 C010351 LONDON
<PAGE> PAGE 33
015 D010351 UNITED KINGDOM
015 E040351 X
015 A000352 THE FIRST NATIONAL BANK OF BOSTON
015 B000352 S
015 C010352 MONTEVIDEO
015 D010352 URUGUAY
015 E040352 X
015 A000353 CITIBANK, N.A.
015 B000353 S
015 C010353 CARACAS
015 D010353 VENEZUELA
015 E040353 X
015 A000354 DELETE
015 A000355 CESKOSLOVENSKA OBCHODNI BANKA A.S. (CSOB)
015 B000355 S
015 C010355 PRAHA (PRAGUE)
015 D010355 CZECH REPUBLIC
015 E040355 X
015 A000356 CITIBANK, N.A.
015 B000356 S
015 C010356 QUITO
015 D010356 ECUADOR
015 E040356 X
015 A000357 CITIBANK, N.A. - EGYPT BRANCH
015 B000357 S
015 C010357 CAIRO
015 D010357 EGYPT
015 E040357 X
015 A000358 CREDIT COMMERCIAL DE FRANCE
015 B000358 S
015 C010358 PARIS
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<PAGE> PAGE 34
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015 A000363 STANBIC BANK KENYA LIMITED (STANBIC)
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<PAGE> PAGE 35
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015 A000376 THE HONGKONG AND SHANGHAI BANKING CORP., LTD
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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008 B000401 A
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015 A000401 DELETE
015 A000402 DELETE
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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008 B000501 A
008 C000501 801-26292
008 D010501 SAN MATEO
008 D020501 CA
008 D030501 94404
008 D040501 1585
015 A000501 DELETE
015 A000502 THE BANK OF NEW YORK
015 B000502 C
015 C010502 NEW YORK
015 C020502 NY
015 C030502 10286
015 E010502 X
015 A000503 DELETE
028 A010500 53584
028 A020500 27713
028 A030500 0
028 A040500 173917
028 B010500 47776
028 B020500 26231
028 B030500 0
028 B040500 175932
028 C010500 51830
028 C020500 26062
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028 D010500 61808
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<PAGE> PAGE 51
028 E010500 67926
028 E020500 25837
028 E030500 0
028 E040500 150811
028 F010500 49177
028 F020500 25638
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028 F040500 143915
028 G010500 332101
028 G020500 157468
028 G030500 0
028 G040500 981650
028 H000500 321042
029 000500 Y
030 A000500 10196
030 B000500 4.25
030 C000500 0.00
031 A000500 0
031 B000500 144
032 000500 10340
033 000500 0
034 000500 Y
035 000500 57
036 A000500 N
036 B000500 0
037 000500 N
038 000500 0
039 000500 Y
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 100
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 8924
044 000500 387
062 A000500 Y
062 B000500 3.5
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
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<PAGE> PAGE 52
062 L000500 0.0
062 M000500 0.0
062 N000500 96.2
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 23.4
064 A000500 N
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 N
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 Y
070 P020500 Y
070 Q010500 N
070 Q020500 N
070 R010500 N
<PAGE> PAGE 53
070 R020500 N
071 A000500 166499
071 B000500 1223669
071 C000500 9565616
071 D000500 2
072 A000500 12
072 B000500 753095
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072DD010500 694285
072DD020500 5831
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 26
074 B000500 0
074 C000500 330356
074 D000500 9124852
074 E000500 0
074 F000500 0
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<PAGE> PAGE 54
074 J000500 0
074 K000500 0
074 L000500 64187
074 M000500 0
074 N000500 9519421
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074 P000500 5902
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074 R030500 0
074 R040500 27480
074 S000500 0
074 T000500 9486039
074 U010500 1357282
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SIGNATURE DIOMEDES LOO-TAM
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS SEPTEMBER 30, 1997 ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> FRANKLIN GROWTH SERIES - CLASS I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 433,324,038
<INVESTMENTS-AT-VALUE> 1,065,564,551
<RECEIVABLES> 516,344,195
<ASSETS-OTHER> 564,636
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,582,473,382
<PAYABLE-FOR-SECURITIES> 780,632
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,091,238
<TOTAL-LIABILITIES> 3,871,870
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 912,447,954
<SHARES-COMMON-STOCK> 52,996,093
<SHARES-COMMON-PRIOR> 44,715,467
<ACCUMULATED-NII-CURRENT> 19,890,444
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,022,601
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 632,240,513
<NET-ASSETS> 1,578,601,512
<DIVIDEND-INCOME> 12,800,457
<INTEREST-INCOME> 20,234,726
<OTHER-INCOME> 0
<EXPENSES-NET> (12,503,943)
<NET-INVESTMENT-INCOME> 20,531,240
<REALIZED-GAINS-CURRENT> 14,065,272
<APPREC-INCREASE-CURRENT> 215,960,743
<NET-CHANGE-FROM-OPS> 250,557,255
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,432,896)
<DISTRIBUTIONS-OF-GAINS> (9,283,568)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19,647,652
<NUMBER-OF-SHARES-REDEEMED> (12,109,484)
<SHARES-REINVESTED> 742,458
<NET-CHANGE-IN-ASSETS> 514,698,292
<ACCUMULATED-NII-PRIOR> 10,212,504
<ACCUMULATED-GAINS-PRIOR> 9,795,215
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,295,304
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,503,943
<AVERAGE-NET-ASSETS> 1,321,892,182
<PER-SHARE-NAV-BEGIN> 22.820
<PER-SHARE-NII> .360
<PER-SHARE-GAIN-APPREC> 4.340
<PER-SHARE-DIVIDEND> (.230)
<PER-SHARE-DISTRIBUTIONS> (.200)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 27.090
<EXPENSE-RATIO> .890
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS SEPTEMBER 30, 1997 ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> FRANKLIN GROWTH SERIES - CLASS II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 433,324,038
<INVESTMENTS-AT-VALUE> 1,065,564,551
<RECEIVABLES> 516,344,195
<ASSETS-OTHER> 564,636
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,582,473,382
<PAYABLE-FOR-SECURITIES> 780,632
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,091,238
<TOTAL-LIABILITIES> 3,871,870
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 912,447,954
<SHARES-COMMON-STOCK> 4,391,009
<SHARES-COMMON-PRIOR> 1,921,082
<ACCUMULATED-NII-CURRENT> 19,890,444
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,022,601
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 632,240,513
<NET-ASSETS> 1,578,601,512
<DIVIDEND-INCOME> 12,800,457
<INTEREST-INCOME> 20,234,726
<OTHER-INCOME> 0
<EXPENSES-NET> (12,503,943)
<NET-INVESTMENT-INCOME> 20,531,240
<REALIZED-GAINS-CURRENT> 14,065,272
<APPREC-INCREASE-CURRENT> 215,960,743
<NET-CHANGE-FROM-OPS> 250,557,255
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (420,404)
<DISTRIBUTIONS-OF-GAINS> (554,318)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,570,458
<NUMBER-OF-SHARES-REDEEMED> (1,139,059)
<SHARES-REINVESTED> 38,528
<NET-CHANGE-IN-ASSETS> 514,698,292
<ACCUMULATED-NII-PRIOR> 10,212,504
<ACCUMULATED-GAINS-PRIOR> 9,795,215
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,295,304
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,503,943
<AVERAGE-NET-ASSETS> 1,321,892,182
<PER-SHARE-NAV-BEGIN> 22.600
<PER-SHARE-NII> .200
<PER-SHARE-GAIN-APPREC> 4.250
<PER-SHARE-DIVIDEND> (.150)
<PER-SHARE-DISTRIBUTIONS> (.200)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 26.700
<EXPENSE-RATIO> 1.660
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS SEPTEMBER 30, 1997 ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 013
<NAME> FRANKLIN GROWTH SERIES - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 433,324,038
<INVESTMENTS-AT-VALUE> 1,065,564,551
<RECEIVABLES> 516,344,195
<ASSETS-OTHER> 564,636
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,582,473,382
<PAYABLE-FOR-SECURITIES> 780,632
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,091,238
<TOTAL-LIABILITIES> 3,871,870
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 912,447,954
<SHARES-COMMON-STOCK> 951,931
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 19,890,444
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,022,601
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 632,240,513
<NET-ASSETS> 1,578,601,512
<DIVIDEND-INCOME> 12,800,457
<INTEREST-INCOME> 20,234,726
<OTHER-INCOME> 0
<EXPENSES-NET> (12,503,943)
<NET-INVESTMENT-INCOME> 20,531,240
<REALIZED-GAINS-CURRENT> 14,065,272
<APPREC-INCREASE-CURRENT> 215,960,743
<NET-CHANGE-FROM-OPS> 250,557,255
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,309,960
<NUMBER-OF-SHARES-REDEEMED> (358,029)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 514,698,292
<ACCUMULATED-NII-PRIOR> 10,212,504
<ACCUMULATED-GAINS-PRIOR> 9,795,215
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,295,304
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,503,943
<AVERAGE-NET-ASSETS> 1,321,892,182
<PER-SHARE-NAV-BEGIN> 23.240
<PER-SHARE-NII> .250
<PER-SHARE-GAIN-APPREC> 3.640
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 27.130
<EXPENSE-RATIO> .660
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERRENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 021
<NAME> FRANKLIN DYNATECH SERIES - CLASS I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 31,963,323
<INVESTMENTS-AT-VALUE> 118,805,938
<RECEIVABLES> 72,995,320
<ASSETS-OTHER> 268,120
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 192,069,378
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 582,033
<TOTAL-LIABILITIES> 582,033
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 96,665,679
<SHARES-COMMON-STOCK> 10,177,494
<SHARES-COMMON-PRIOR> 7,446,627
<ACCUMULATED-NII-CURRENT> 1,031,642
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,947,409
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 86,842,615
<NET-ASSETS> 191,487,345
<DIVIDEND-INCOME> 455,107
<INTEREST-INCOME> 2,060,661
<OTHER-INCOME> 0
<EXPENSES-NET> (1,472,532)
<NET-INVESTMENT-INCOME> 1,043,236
<REALIZED-GAINS-CURRENT> 6,949,626
<APPREC-INCREASE-CURRENT> 33,474,575
<NET-CHANGE-FROM-OPS> 41,467,437
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (415,339)
<DISTRIBUTIONS-OF-GAINS> (3,013,708)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,207,685
<NUMBER-OF-SHARES-REDEEMED> (4,675,913)
<SHARES-REINVESTED> 199,095
<NET-CHANGE-IN-ASSETS> 86,979,183
<ACCUMULATED-NII-PRIOR> 403,922
<ACCUMULATED-GAINS-PRIOR> 3,012,745
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 840,480
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,472,532
<AVERAGE-NET-ASSETS> 140,139,612
<PER-SHARE-NAV-BEGIN> 14.030
<PER-SHARE-NII> .100
<PER-SHARE-GAIN-APPREC> 4.810
<PER-SHARE-DIVIDEND> (.060)
<PER-SHARE-DISTRIBUTIONS> (.400)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 18.480
<EXPENSE-RATIO> 1.040
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 022
<NAME> FRANKLIN DYNATECH SERIES - CLASS II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 31,963,323
<INVESTMENTS-AT-VALUE> 118,805,938
<RECEIVABLES> 72,995,320
<ASSETS-OTHER> 268,120
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 192,069,378
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 582,033
<TOTAL-LIABILITIES> 582,033
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 96,665,679
<SHARES-COMMON-STOCK> 184,978
<SHARES-COMMON-PRIOR> 14
<ACCUMULATED-NII-CURRENT> 1,031,642
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,947,409
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 86,842,615
<NET-ASSETS> 191,487,345
<DIVIDEND-INCOME> 455,107
<INTEREST-INCOME> 2,060,661
<OTHER-INCOME> 0
<EXPENSES-NET> (1,472,532)
<NET-INVESTMENT-INCOME> 1,043,236
<REALIZED-GAINS-CURRENT> 6,949,626
<APPREC-INCREASE-CURRENT> 33,474,575
<NET-CHANGE-FROM-OPS> 41,467,437
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (177)
<DISTRIBUTIONS-OF-GAINS> (1,254)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 275,202
<NUMBER-OF-SHARES-REDEEMED> (90,332)
<SHARES-REINVESTED> 94
<NET-CHANGE-IN-ASSETS> 86,979,183
<ACCUMULATED-NII-PRIOR> 403,922
<ACCUMULATED-GAINS-PRIOR> 3,012,745
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 840,480
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,472,532
<AVERAGE-NET-ASSETS> 140,139,612
<PER-SHARE-NAV-BEGIN> 14.030
<PER-SHARE-NII> .070
<PER-SHARE-GAIN-APPREC> 4.660
<PER-SHARE-DIVIDEND> (.060)
<PER-SHARE-DISTRIBUTIONS> (.400)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 18.300
<EXPENSE-RATIO> 1.820
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 031
<NAME> FRANKLIN UTILITIES SERIES - CLASS I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 1,719,080,804
<INVESTMENTS-AT-VALUE> 1,933,205,376
<RECEIVABLES> 58,834,320
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,992,039,696
<PAYABLE-FOR-SECURITIES> 39,690
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,101,345
<TOTAL-LIABILITIES> 8,141,035
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,711,049,291
<SHARES-COMMON-STOCK> 194,534,988
<SHARES-COMMON-PRIOR> 246,652,238
<ACCUMULATED-NII-CURRENT> 8,991,193
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 49,733,605
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 214,124,572
<NET-ASSETS> 1,983,898,661
<DIVIDEND-INCOME> 108,058,105
<INTEREST-INCOME> 23,367,984
<OTHER-INCOME> 0
<EXPENSES-NET> (16,559,767)
<NET-INVESTMENT-INCOME> 114,866,322
<REALIZED-GAINS-CURRENT> 49,829,022
<APPREC-INCREASE-CURRENT> 112,850,805
<NET-CHANGE-FROM-OPS> 277,546,149
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (113,914,994)
<DISTRIBUTIONS-OF-GAINS> (100,515,956)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,100,694
<NUMBER-OF-SHARES-REDEEMED> (81,440,706)
<SHARES-REINVESTED> 17,222,762
<NET-CHANGE-IN-ASSETS> (436,317,283)
<ACCUMULATED-NII-PRIOR> 9,384,835
<ACCUMULATED-GAINS-PRIOR> 101,323,800
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9,987,693
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,559,767
<AVERAGE-NET-ASSETS> 2,183,851,035
<PER-SHARE-NAV-BEGIN> 9.730
<PER-SHARE-NII> .530
<PER-SHARE-GAIN-APPREC> .730
<PER-SHARE-DIVIDEND> (.520)
<PER-SHARE-DISTRIBUTIONS> (.430)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 10.040
<EXPENSE-RATIO> .750
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 032
<NAME> FRANKLIN UTILITIES SERIES - CLASS II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 1,719,080,804
<INVESTMENTS-AT-VALUE> 1,933,205,376
<RECEIVABLES> 58,834,320
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,992,039,696
<PAYABLE-FOR-SECURITIES> 39,690
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,101,345
<TOTAL-LIABILITIES> 8,141,035
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,711,049,291
<SHARES-COMMON-STOCK> 2,185,554
<SHARES-COMMON-PRIOR> 2,021,886
<ACCUMULATED-NII-CURRENT> 8,991,193
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 49,733,605
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 214,124,572
<NET-ASSETS> 1,983,898,661
<DIVIDEND-INCOME> 108,058,105
<INTEREST-INCOME> 23,367,984
<OTHER-INCOME> 0
<EXPENSES-NET> (16,559,767)
<NET-INVESTMENT-INCOME> 114,866,322
<REALIZED-GAINS-CURRENT> 49,829,022
<APPREC-INCREASE-CURRENT> 112,850,805
<NET-CHANGE-FROM-OPS> 277,546,149
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,067,340)
<DISTRIBUTIONS-OF-GAINS> (903,261)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 853,797
<NUMBER-OF-SHARES-REDEEMED> (854,260)
<SHARES-REINVESTED> 164,131
<NET-CHANGE-IN-ASSETS> (436,317,283)
<ACCUMULATED-NII-PRIOR> 9,384,835
<ACCUMULATED-GAINS-PRIOR> 101,323,800
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9,987,693
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,559,767
<AVERAGE-NET-ASSETS> 2,183,851,035
<PER-SHARE-NAV-BEGIN> 9.720
<PER-SHARE-NII> .450
<PER-SHARE-GAIN-APPREC> .760
<PER-SHARE-DIVIDEND> (.480)
<PER-SHARE-DISTRIBUTIONS> (.430)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 10.020
<EXPENSE-RATIO> 1.270
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 033
<NAME> FRANKLIN UTILITIES SERIES - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 1,719,080,804
<INVESTMENTS-AT-VALUE> 1,933,205,376
<RECEIVABLES> 58,834,320
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,992,039,696
<PAYABLE-FOR-SECURITIES> 39,690
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,101,345
<TOTAL-LIABILITIES> 8,141,035
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,711,049,291
<SHARES-COMMON-STOCK> 868,767
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 8,991,193
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 49,733,605
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 214,124,572
<NET-ASSETS> 1,983,898,661
<DIVIDEND-INCOME> 108,058,105
<INTEREST-INCOME> 23,367,984
<OTHER-INCOME> 0
<EXPENSES-NET> (16,559,767)
<NET-INVESTMENT-INCOME> 114,866,322
<REALIZED-GAINS-CURRENT> 49,829,022
<APPREC-INCREASE-CURRENT> 112,850,805
<NET-CHANGE-FROM-OPS> 277,546,149
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (277,630)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,303,704
<NUMBER-OF-SHARES-REDEEMED> (458,724)
<SHARES-REINVESTED> 23,787
<NET-CHANGE-IN-ASSETS> (436,317,283)
<ACCUMULATED-NII-PRIOR> 9,384,835
<ACCUMULATED-GAINS-PRIOR> 101,323,800
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9,987,693
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,559,767
<AVERAGE-NET-ASSETS> 2,183,851,035
<PER-SHARE-NAV-BEGIN> 9.550
<PER-SHARE-NII> .360
<PER-SHARE-GAIN-APPREC> .530
<PER-SHARE-DIVIDEND> (.400)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 10.040
<EXPENSE-RATIO> .620
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 041
<NAME> FRANKLIN INCOME SERIES - CLASS I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 7,129,432,474
<INVESTMENTS-AT-VALUE> 7,872,822,469
<RECEIVABLES> 591,672,166
<ASSETS-OTHER> 953,208
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,465,447,843
<PAYABLE-FOR-SECURITIES> 879,535
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,149,071
<TOTAL-LIABILITIES> 18,028,606
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,542,673,869
<SHARES-COMMON-STOCK> 3,106,620,788
<SHARES-COMMON-PRIOR> 2,943,970,959
<ACCUMULATED-NII-CURRENT> 69,436,365
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 92,009,348
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 743,299,655
<NET-ASSETS> 8,447,419,237
<DIVIDEND-INCOME> 178,110,067
<INTEREST-INCOME> 454,852,746
<OTHER-INCOME> 0
<EXPENSES-NET> (58,053,156)
<NET-INVESTMENT-INCOME> 574,909,657
<REALIZED-GAINS-CURRENT> 133,917,032
<APPREC-INCREASE-CURRENT> 524,014,976
<NET-CHANGE-FROM-OPS> 1,232,841,665
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (545,342,618)
<DISTRIBUTIONS-OF-GAINS> (29,741,890)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 538,060,045
<NUMBER-OF-SHARES-REDEEMED> (520,661,763)
<SHARES-REINVESTED> 145,251,547
<NET-CHANGE-IN-ASSETS> 1,323,951,983
<ACCUMULATED-NII-PRIOR> 34,315,598
<ACCUMULATED-GAINS-PRIOR> 30,949,499
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 35,364,027
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 58,053,156
<AVERAGE-NET-ASSETS> 7,750,901,854
<PER-SHARE-NAV-BEGIN> 2.300
<PER-SHARE-NII> .180
<PER-SHARE-GAIN-APPREC> .200
<PER-SHARE-DIVIDEND> (.180)
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 2.490
<EXPENSE-RATIO> .720
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 042
<NAME> FRANKLIN INCOME SERIES - CLASS II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 7,129,432,474
<INVESTMENTS-AT-VALUE> 7,872,822,469
<RECEIVABLES> 591,672,166
<ASSETS-OTHER> 953,208
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,465,447,843
<PAYABLE-FOR-SECURITIES> 879,535
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,149,071
<TOTAL-LIABILITIES> 18,028,606
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,542,673,869
<SHARES-COMMON-STOCK> 278,951,410
<SHARES-COMMON-PRIOR> 148,995,814
<ACCUMULATED-NII-CURRENT> 69,436,365
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 92,009,348
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 743,299,655
<NET-ASSETS> 8,447,419,237
<DIVIDEND-INCOME> 178,110,067
<INTEREST-INCOME> 454,852,746
<OTHER-INCOME> 0
<EXPENSES-NET> (58,053,156)
<NET-INVESTMENT-INCOME> 574,909,657
<REALIZED-GAINS-CURRENT> 133,917,032
<APPREC-INCREASE-CURRENT> 524,014,976
<NET-CHANGE-FROM-OPS> 1,232,841,665
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (35,350,218)
<DISTRIBUTIONS-OF-GAINS> (1,712,633)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 151,188,247
<NUMBER-OF-SHARES-REDEEMED> (30,837,863)
<SHARES-REINVESTED> 9,605,212
<NET-CHANGE-IN-ASSETS> 1,323,951,983
<ACCUMULATED-NII-PRIOR> 34,315,598
<ACCUMULATED-GAINS-PRIOR> 30,949,499
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 35,364,027
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 58,053,156
<AVERAGE-NET-ASSETS> 7,750,901,854
<PER-SHARE-NAV-BEGIN> 2.300
<PER-SHARE-NII> .160
<PER-SHARE-GAIN-APPREC> .210
<PER-SHARE-DIVIDEND> (.170)
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 2.490
<EXPENSE-RATIO> 1.220
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 043
<NAME> FRANKLIN INCOME SERIES - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 7,129,432,474
<INVESTMENTS-AT-VALUE> 7,872,822,469
<RECEIVABLES> 591,672,166
<ASSETS-OTHER> 953,208
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,465,447,843
<PAYABLE-FOR-SECURITIES> 879,535
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,149,071
<TOTAL-LIABILITIES> 18,028,606
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,542,673,869
<SHARES-COMMON-STOCK> 5,366,210
<SHARES-COMMON-PRIOR> 0
ACCUMULATED-NII-CURRENT> 69,436,365
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 92,099,348
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 743,299,655
<NET-ASSETS> 8,447,419,237
<DIVIDEND-INCOME> 178,110,067
<INTEREST-INCOME> 454,852,746
<OTHER-INCOME> 0
<EXPENSES-NET> (58,053,156)
<NET-INVESTMENT-INCOME> 574,909,657
<REALIZED-GAINS-CURRENT> 133,917,032
<APPREC-INCREASE-CURRENT> 524,014,976
<NET-CHANGE-FROM-OPS> 1,232,841,665
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (498,714)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,630,896
<NUMBER-OF-SHARES-REDEEMED> (463,157)
<SHARES-REINVESTED> 198,471
<NET-CHANGE-IN-ASSETS> 1,323,951,983
<ACCUMULATED-NII-PRIOR> 34,315,598
<ACCUMULATED-GAINS-PRIOR> 30,949,499
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 35,364,027
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 58,053,156
<AVERAGE-NET-ASSETS> 7,750,901,854
<PER-SHARE-NAV-BEGIN> 2.340
<PER-SHARE-NII> .140
<PER-SHARE-GAIN-APPREC> .140
<PER-SHARE-DIVIDEND> (.140)
<PER-SHARE-DISTRIBUTIONS> (.000)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 2.480
<EXPENSE-RATIO> .570
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 051
<NAME> FRANKLIN U.S. GOVERNMENT SECURITIES FUND - CLASS I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 9,275,272,398
<INVESTMENTS-AT-VALUE> 9,455,207,848
<RECEIVABLES> 64,187,449
<ASSETS-OTHER> 25,678
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,519,420,975
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33,382,420
<TOTAL-LIABILITIES> 33,382,420
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,690,762,713
<SHARES-COMMON-STOCK> 1,357,281,977
<SHARES-COMMON-PRIOR> 1,507,740,610
<ACCUMULATED-NII-CURRENT> 7,036,041
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (391,695,649)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 179,935,450
<NET-ASSETS> 9,486,038,555
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 753,095,315
<OTHER-INCOME> 0
<EXPENSES-NET> (63,235,107)
<NET-INVESTMENT-INCOME> 689,860,208
<REALIZED-GAINS-CURRENT> (29,505,613)
<APPREC-INCREASE-CURRENT> 285,289,807
<NET-CHANGE-FROM-OPS> 945,644,402
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (694,284,790)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 78,194,660
<NUMBER-OF-SHARES-REDEEMED> (276,583,345)
<SHARES-REINVESTED> 47,930,052
<NET-CHANGE-IN-ASSETS> (701,101,700)
<ACCUMULATED-NII-PRIOR> 17,291,457
<ACCUMULATED-GAINS-PRIOR> (455,164,836)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44,411,776
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 63,235,107
<AVERAGE-NET-ASSETS> 9,843,590,029
<PER-SHARE-NAV-BEGIN> 6.720
<PER-SHARE-NII> .480
<PER-SHARE-GAIN-APPREC> .170
<PER-SHARE-DIVIDEND> (.480)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 6.890
<EXPENSE-RATIO> .640
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 052
<NAME> FRANKLIN U.S. GOVERNMENT SECURITIES FUND - CLASS II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 9,275,272,398
<INVESTMENTS-AT-VALUE> 9,455,207,848
<RECEIVABLES> 64,187,449
<ASSETS-OTHER> 25,678
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,519,420,975
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33,382,420
<TOTAL-LIABILITIES> 33,382,420
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,690,762,713
<SHARES-COMMON-STOCK> 17,586,866
<SHARES-COMMON-PRIOR> 8,605,785
<ACCUMULATED-NII-CURRENT> 7,036,041
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (391,695,649)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 179,935,450
<NET-ASSETS> 9,486,038,555
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 753,095,315
<OTHER-INCOME> 0
<EXPENSES-NET> (63,235,107)
<NET-INVESTMENT-INCOME> 689,860,208
<REALIZED-GAINS-CURRENT> (29,505,613)
<APPREC-INCREASE-CURRENT> 285,289,807
<NET-CHANGE-FROM-OPS> 945,644,402
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,467,178)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11,765,224
<NUMBER-OF-SHARES-REDEEMED> (3,311,245)
<SHARES-REINVESTED> 527,102
<NET-CHANGE-IN-ASSETS> (701,101,700)
<ACCUMULATED-NII-PRIOR> 17,291,457
<ACCUMULATED-GAINS-PRIOR> (455,164,836)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44,411,776
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 63,235,107
<AVERAGE-NET-ASSETS> 9,843,590,029
<PER-SHARE-NAV-BEGIN> 6.700
<PER-SHARE-NII> .440
<PER-SHARE-GAIN-APPREC> .170
<PER-SHARE-DIVIDEND> (.440)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 6.870
<EXPENSE-RATIO> 1.200
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. SEPTEMBER 30, 1997 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 053
<NAME> FRANKLIN U.S. GOVERNMENT SECURITIES FUND - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1997
<PERIOD-END> SEP-30-1997
<INVESTMENTS-AT-COST> 9,275,272,398
<INVESTMENTS-AT-VALUE> 9,455,207,848
<RECEIVABLES> 64,187,449
<ASSETS-OTHER> 25,678
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,519,420,975
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33,382,420
<TOTAL-LIABILITIES> 33,382,420
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,690,762,713
<SHARES-COMMON-STOCK> 2,097,990
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 7,036,041
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (391,695,649)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 179,935,450
<NET-ASSETS> 9,486,038,555
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 753,095,315
<OTHER-INCOME> 0
<EXPENSES-NET> (63,235,107)
<NET-INVESTMENT-INCOME> 689,860,208
<REALIZED-GAINS-CURRENT> (29,505,613)
<APPREC-INCREASE-CURRENT> 285,289,807
<NET-CHANGE-FROM-OPS> 945,644,402
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (363,656)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,433,391
<NUMBER-OF-SHARES-REDEEMED> (375,540)
<SHARES-REINVESTED> 40,139
<NET-CHANGE-IN-ASSETS> (701,101,700)
<ACCUMULATED-NII-PRIOR> 17,291,457
<ACCUMULATED-GAINS-PRIOR> (455,164,836)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44,411,776
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 63,235,107
<AVERAGE-NET-ASSETS> 9,843,590,029
<PER-SHARE-NAV-BEGIN> 6.760
<PER-SHARE-NII> .380
<PER-SHARE-GAIN-APPREC> .120
<PER-SHARE-DIVIDEND> (.360)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 6.900
<EXPENSE-RATIO> .550
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Board of Trustees of
Franklin Custodian Funds, Inc.
In planning and performing our audit of the financial
statements of Franklin Custodian Funds, Inc. for the
year ended September 30, 1997, we considered its
internal control, including controls over safeguarding
securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on
the financial statements and to comply with the
requirements of Form NSAR, not to provide assurance on
internal control.
The management of Franklin Custodian Funds, Inc. is
responsible for establishing and maintaining internal
control. In fulfilling this responsibility, estimates
and judgements by management are required to assess the
expected benefits and related costs of controls.
Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly
presented in conformity with generally accepted
accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition,
use, or disposition.
Because of inherent limitations in internal control,
errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it
may become inadequate because of changes in conditions
or that the effectiveness of the design and operation
may deteriorate.
Our consideration of the internal control would not
necessarily disclose all matters in the internal control
that might be material weaknesses under standards
established by the American Institute of Certified
Public Accountants. A material weakness is a condition
in which the design or operation of the specific
internal control structure elements does not reduce to a
relatively low level the risk that errors or
irregularities in amounts that would be material in
relation to the financial statements being audited may
occur and not be detected within a timely period by
employees in the normal course of performing their
assigned functions. However, we noted no matters
involving the internal control, including controls over
safeguarding securities, that we consider to be material
weaknesses, as defined above as of September 30, 1997.
This report is intended solely for the information and
use of management and the Securities and Exchange
Commission.
S\COOPERS & LYBRAND L.L.P.
Coopers & Lybrand L.L.P.
San Francisco, California
November 4, 1997
