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<PAGE> PAGE 8
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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008 B000301 A
008 C000301 801-26292
008 D010301 SAN MATEO
008 D020301 CA
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015 A000301 THE BANK OF NEW YORK
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015 D010302 ARGENTINA
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015 A000303 NATIONAL AUSTRALIA BANK
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015 E040303 X
015 A000304 BARCLAYS BANK OF GHANA LTD
015 B000304 S
015 C010304 ACCRA
015 D010304 GHANA
015 E040304 X
015 A000305 BANQUE BRUXELLES LAMBERT
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015 C010305 BRUSSELS
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<PAGE> PAGE 22
015 C010306 TORONTO
015 D010306 CANADA
015 E040306 X
015 A000307 DELETE
015 A000308 DELETE
015 A000309 DEN DANSKE BANK
015 B000309 S
015 C010309 COPENHAGEN
015 D010309 DENMARK
015 E040309 X
015 A000310 DELETE
015 A000311 DELETE
015 A000312 DELETE
015 A000313 MERITA BANK PLC
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015 C010313 HELSINKI
015 D010313 FINLAND
015 E040313 X
015 A000314 BANQUE PARIBAS
015 B000314 S
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015 A000316 HONGKONG & SHANGHAI BANKING CORP. LTD
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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008 A000401 FRANKLIN ADVISERS, INC.
008 B000401 A
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<PAGE> PAGE 30
008 D040401 1585
015 A000401 THE BANK OF NEW YORK
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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070 A020400 Y
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<PAGE> PAGE 36
070 D010400 N
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 Y
070 N020400 Y
070 O010400 N
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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008 A000501 FRANKLIN ADVISERS, INC.
008 B000501 A
008 C000501 801-26292
008 D010501 SAN MATEO
008 D020501 CA
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015 A000501 THE BANK OF NEW YORK
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<PAGE> PAGE 39
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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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SIGNATURE KIMBERLEY MONASTERIO
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> FRANKLIN GROWTH SERIES - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 959,404,140
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<TOTAL-LIABILITIES> 13,613,876
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,297,586,438
<SHARES-COMMON-STOCK> 59,643,106
<SHARES-COMMON-PRIOR> 63,830,926
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<ACCUMULATED-NET-GAINS> 102,481,501
<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 2,605,646,759
<DIVIDEND-INCOME> 10,854,039
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<OTHER-INCOME> 0
<EXPENSES-NET> (12,916,182)
<NET-INVESTMENT-INCOME> 18,645,878
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<APPREC-INCREASE-CURRENT> 160,143,604
<NET-CHANGE-FROM-OPS> 283,807,885
<EQUALIZATION> 0
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<EXPENSE-RATIO> .900<F1>
<FN>
<F1>ANNUALIZED
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> FRANKLIN GROWTH SERIES - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 959,404,140
<INVESTMENTS-AT-VALUE> 2,157,064,025
<RECEIVABLES> 462,196,610
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,619,260,635
<PAYABLE-FOR-SECURITIES> 818,370
<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 13,613,876
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,297,586,438
<SHARES-COMMON-STOCK> 791,254
<SHARES-COMMON-PRIOR> 522,947
<ACCUMULATED-NII-CURRENT> 7,918,935
<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 2,605,646,759
<DIVIDEND-INCOME> 10,854,039
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<NET-INVESTMENT-INCOME> 18,645,878
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<NET-CHANGE-FROM-OPS> 283,807,885
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<DISTRIBUTIONS-OF-INCOME> (210,850)
<DISTRIBUTIONS-OF-GAINS> (157,913)
<DISTRIBUTIONS-OTHER> 0
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<NUMBER-OF-SHARES-REDEEMED> (81,751)
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<NET-CHANGE-IN-ASSETS> 70,958,936
<ACCUMULATED-NII-PRIOR> 21,016,483
<ACCUMULATED-GAINS-PRIOR> 17,380,293
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (5,902,318)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (12,916,182)
<AVERAGE-NET-ASSETS> 2,557,060,762
<PER-SHARE-NAV-BEGIN> 33.030
<PER-SHARE-NII> .130<F2>
<PER-SHARE-GAIN-APPREC> 3.570<F2>
<PER-SHARE-DIVIDEND> (.350)<F2>
<PER-SHARE-DISTRIBUTIONS> (.260)<F2>
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 36.120
<EXPENSE-RATIO> 1.650<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARE OUTSTANDING.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 013
<NAME> FRANKLIN GROWTH SERIES - CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 959,404,140
<INVESTMENTS-AT-VALUE> 2,157,064,025
<RECEIVABLES> 462,196,610
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,619,260,635
<PAYABLE-FOR-SECURITIES> 818,370
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,795,506
<TOTAL-LIABILITIES> 13,613,876
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,297,586,438
<SHARES-COMMON-STOCK> 10,343,137
<SHARES-COMMON-PRIOR> 11,117,291
<ACCUMULATED-NII-CURRENT> 7,918,935
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 102,481,501
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,197,659,885
<NET-ASSETS> 2,605,646,759
<DIVIDEND-INCOME> 10,854,039
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 18,645,878
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<NET-CHANGE-FROM-OPS> 283,807,885
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,415,971)
<DISTRIBUTIONS-OF-GAINS> (2,910,638)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,623,573
<NUMBER-OF-SHARES-REDEEMED> (2,546,994)
<SHARES-REINVESTED> 149,267
<NET-CHANGE-IN-ASSETS> 70,958,936
<ACCUMULATED-NII-PRIOR> 21,016,483
<ACCUMULATED-GAINS-PRIOR> 17,380,293
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (5,902,318)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (12,916,182)
<AVERAGE-NET-ASSETS> 2,557,060,762
<PER-SHARE-NAV-BEGIN> 32.580
<PER-SHARE-NII> .140<F2>
<PER-SHARE-GAIN-APPREC> 3.540<F2>
<PER-SHARE-DIVIDEND> (.220)<F2>
<PER-SHARE-DISTRIBUTIONS> (.260)<F2>
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 35.78
<EXPENSE-RATIO> 1.650<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARE OUTSTANDING.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS
QAULIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 014
<NAME> FRANKLIN GROWTH SERIES - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 959,404,140
<INVESTMENTS-AT-VALUE> 2,157,064,025
<RECEIVABLES> 462,196,610
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,619,260,635
<PAYABLE-FOR-SECURITIES> 818,370
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,795,506
<TOTAL-LIABILITIES> 13,613,876
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,297,586,438
<SHARES-COMMON-STOCK> 1,059,363
<SHARES-COMMON-PRIOR> 1,065,839
<ACCUMULATED-NII-CURRENT> 7,918,935
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 102,481,501
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,197,659,885
<NET-ASSETS> 2,605,646,759
<DIVIDEND-INCOME> 10,854,039
<INTEREST-INCOME> 20,708,021
<OTHER-INCOME> 0
<EXPENSES-NET> (12,916,182)
<NET-INVESTMENT-INCOME> 18,645,878
<REALIZED-GAINS-CURRENT> 105,018,403
<APPREC-INCREASE-CURRENT> 160,143,604
<NET-CHANGE-FROM-OPS> 283,807,885
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (604,017)
<DISTRIBUTIONS-OF-GAINS> (298,276)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 164,658
<NUMBER-OF-SHARES-REDEEMED> (197,846)
<SHARES-REINVESTED> 26,712
<NET-CHANGE-IN-ASSETS> 70,958,936
<ACCUMULATED-NII-PRIOR> 21,016,483
<ACCUMULATED-GAINS-PRIOR> 17,380,293
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (5,902,318)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (12,916,182)
<AVERAGE-NET-ASSETS> 2,557,060,762
<PER-SHARE-NAV-BEGIN> 33.270
<PER-SHARE-NII> .310<F2>
<PER-SHARE-GAIN-APPREC> 3.600<F2>
<PER-SHARE-DIVIDEND> (.530)<F2>
<PER-SHARE-DISTRIBUTIONS> (.260)<F2>
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 36.390
<EXPENSE-RATIO> .650<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARE OUTSTANDING.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 021
<NAME> FRANKLIN DYNATECH SERIES - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 149,937,494
<INVESTMENTS-AT-VALUE> 533,353,528
<RECEIVABLES> 424,726,182
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 958,079,710
<PAYABLE-FOR-SECURITIES> 3,226,047
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,750,253
<TOTAL-LIABILITIES> 6,976,300
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 565,365,345
<SHARES-COMMON-STOCK> 26,680,553
<SHARES-COMMON-PRIOR> 21,609,700
<ACCUMULATED-NII-CURRENT> 2,880,974
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (558,943)
<ACCUM-APPREC-OR-DEPREC> 383,416,034
<NET-ASSETS> 951,103,410
<DIVIDEND-INCOME> 378,432
<INTEREST-INCOME> 9,592,595
<OTHER-INCOME> 0
<EXPENSES-NET> (3,933,429)
<NET-INVESTMENT-INCOME> 6,037,598
<REALIZED-GAINS-CURRENT> 435,378
<APPREC-INCREASE-CURRENT> 212,680,314
<NET-CHANGE-FROM-OPS> 219,153,290
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,348,647)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11,203,736
<NUMBER-OF-SHARES-REDEEMED> (6,401,637)
<SHARES-REINVESTED> 268,754
<NET-CHANGE-IN-ASSETS> 377,742,949
<ACCUMULATED-NII-PRIOR> 6,023,143
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (994,321)
<GROSS-ADVISORY-FEES> (1,885,179)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,933,429)
<AVERAGE-NET-ASSETS> 759,940,390
<PER-SHARE-NAV-BEGIN> 23.110
<PER-SHARE-NII> .230<F2>
<PER-SHARE-GAIN-APPREC> 7.860<F2>
<PER-SHARE-DIVIDEND> (.370)<F2>
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 30.830
<EXPENSE-RATIO> .940<F1>
<FN>
<F1>ANNUALIZED
<F2> BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 022
<NAME> FRANKLIN DYNATECH SERIES - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 149,937,494
<INVESTMENTS-AT-VALUE> 533,353,528
<RECEIVABLES> 424,726,182
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 958,079,710
<PAYABLE-FOR-SECURITIES> 3,226,047
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,750,253
<TOTAL-LIABILITIES> 6,976,300
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 565,365,345
<SHARES-COMMON-STOCK> 42,780
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2,880,974
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (558,943)
<ACCUM-APPREC-OR-DEPREC> 383,416,034
<NET-ASSETS> 951,103,410
<DIVIDEND-INCOME> 378,432
<INTEREST-INCOME> 9,592,595
<OTHER-INCOME> 0
<EXPENSES-NET> (3,933,429)
<NET-INVESTMENT-INCOME> 6,037,598
<REALIZED-GAINS-CURRENT> 435,378
<APPREC-INCREASE-CURRENT> 212,680,314
<NET-CHANGE-FROM-OPS> 219,153,290
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 42,790
<NUMBER-OF-SHARES-REDEEMED> (10)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 377,742,949
<ACCUMULATED-NII-PRIOR> 6,023,143
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (994,321)
<GROSS-ADVISORY-FEES> (1,885,179)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,933,429)
<AVERAGE-NET-ASSETS> 759,940,390
<PER-SHARE-NAV-BEGIN> 28.050
<PER-SHARE-NII> .040<F2>
<PER-SHARE-GAIN-APPREC> 2.690<F2>
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 30.780
<EXPENSE-RATIO> 1.760<F1>
<FN>
<F1>ANNUALIZED
<F2> BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 023
<NAME> FRANKLIN DYNATECH SERIES - CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 149,937,494
<INVESTMENTS-AT-VALUE> 533,353,528
<RECEIVABLES> 424,726,182
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 958,079,710
<PAYABLE-FOR-SECURITIES> 3,226,047
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,750,253
<TOTAL-LIABILITIES> 6,976,300
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 565,365,345
<SHARES-COMMON-STOCK> 4,207,622
<SHARES-COMMON-PRIOR> 3,263,606
<ACCUMULATED-NII-CURRENT> 2,880,974
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (558,943)
<ACCUM-APPREC-OR-DEPREC> 383,416,034
<NET-ASSETS> 951,103,410
<DIVIDEND-INCOME> 378,432
<INTEREST-INCOME> 9,592,595
<OTHER-INCOME> 0
<EXPENSES-NET> (3,933,429)
<NET-INVESTMENT-INCOME> 6,037,598
<REALIZED-GAINS-CURRENT> 435,378
<APPREC-INCREASE-CURRENT> 212,680,314
<NET-CHANGE-FROM-OPS> 219,153,290
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (831,120)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,405,390
<NUMBER-OF-SHARES-REDEEMED> (491,962)
<SHARES-REINVESTED> 30,588
<NET-CHANGE-IN-ASSETS> 377,742,949
<ACCUMULATED-NII-PRIOR> 6,023,143
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (994,321)
<GROSS-ADVISORY-FEES> (1,885,179)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,933,429)
<AVERAGE-NET-ASSETS> 759,940,390
<PER-SHARE-NAV-BEGIN> 22.640
<PER-SHARE-NII> .130<F2>
<PER-SHARE-GAIN-APPREC> 7.710<F2>
<PER-SHARE-DIVIDEND> (.240)<F2>
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 30.240
<EXPENSE-RATIO> 1.680<F1>
<FN>
<F1>ANNUALIZED
<F2> BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 031
<NAME> FRANKLIN UTILITIES SERIES - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 1,256,247,511
<INVESTMENTS-AT-VALUE> 1,303,235,084
<RECEIVABLES> 52,627,063
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,355,862,147
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,174,544
<TOTAL-LIABILITIES> 6,174,544
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,322,118,124
<SHARES-COMMON-STOCK> 152,601,470
<SHARES-COMMON-PRIOR> 166,422,945
<ACCUMULATED-NII-CURRENT> 1,641,180
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (21,059,274)
<ACCUM-APPREC-OR-DEPREC> 46,987,573
<NET-ASSETS> 1,349,687,603
<DIVIDEND-INCOME> 33,996,382
<INTEREST-INCOME> 9,269,171
<OTHER-INCOME> 0
<EXPENSES-NET> (6,368,367)
<NET-INVESTMENT-INCOME> 36,897,186
<REALIZED-GAINS-CURRENT> (21,040,380)
<APPREC-INCREASE-CURRENT> (84,771,376)
<NET-CHANGE-FROM-OPS> (68,914,570)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (35,511,224)
<DISTRIBUTIONS-OF-GAINS> (58,704,324)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,481,979
<NUMBER-OF-SHARES-REDEEMED> (27,940,227)
<SHARES-REINVESTED> 8,636,773
<NET-CHANGE-IN-ASSETS> (291,071,611)
<ACCUMULATED-NII-PRIOR> 1,200,468
<ACCUMULATED-GAINS-PRIOR> 60,353,071
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3,437,011)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (6,368,367)
<AVERAGE-NET-ASSETS> 1,487,377,395
<PER-SHARE-NAV-BEGIN> 9.580
<PER-SHARE-NII> .220<F2>
<PER-SHARE-GAIN-APPREC> (.640)<F2>
<PER-SHARE-DIVIDEND> (.220)<F2>
<PER-SHARE-DISTRIBUTIONS> (.360)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 8.580
<EXPENSE-RATIO> .850<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 032
<NAME> FRANKLIN UTILITIES SERIES - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 1,256,247,511
<INVESTMENTS-AT-VALUE> 1,303,235,084
<RECEIVABLES> 52,627,063
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,355,862,147
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,174,544
<TOTAL-LIABILITIES> 6,174,544
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,322,118,124
<SHARES-COMMON-STOCK> 500,661
<SHARES-COMMON-PRIOR> 327,449
<ACCUMULATED-NII-CURRENT> 1,641,180
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (21,059,274)
<ACCUM-APPREC-OR-DEPREC> 46,987,573
<NET-ASSETS> 1,349,687,603
<DIVIDEND-INCOME> 33,996,382
<INTEREST-INCOME> 9,269,171
<OTHER-INCOME> 0
<EXPENSES-NET> (6,368,367)
<NET-INVESTMENT-INCOME> 36,897,186
<REALIZED-GAINS-CURRENT> (21,040,380)
<APPREC-INCREASE-CURRENT> (84,771,376)
<NET-CHANGE-FROM-OPS> (68,914,570)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (82,478)
<DISTRIBUTIONS-OF-GAINS> (135,732)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 215,985
<NUMBER-OF-SHARES-REDEEMED> (62,602)
<SHARES-REINVESTED> 19,829
<NET-CHANGE-IN-ASSETS> (291,071,611)
<ACCUMULATED-NII-PRIOR> 1,200,468
<ACCUMULATED-GAINS-PRIOR> 60,353,071
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3,437,011)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (6,368,367)
<AVERAGE-NET-ASSETS> 1,487,377,395
<PER-SHARE-NAV-BEGIN> 9.590
<PER-SHARE-NII> .200<F2>
<PER-SHARE-GAIN-APPREC> (.630)<F2>
<PER-SHARE-DIVIDEND> (.200)<F2>
<PER-SHARE-DISTRIBUTIONS> (.360)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 8.600
<EXPENSE-RATIO> 1.360<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 033
<NAME> FRANKLIN UTILITIES SERIES - CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 1,256,247,511
<INVESTMENTS-AT-VALUE> 1,303,235,084
<RECEIVABLES> 52,627,063
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,355,862,147
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,174,544
<TOTAL-LIABILITIES> 6,174,544
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,322,118,124
<SHARES-COMMON-STOCK> 3,278,175
<SHARES-COMMON-PRIOR> 3,624,218
<ACCUMULATED-NII-CURRENT> 1,641,180
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (21,059,274)
<ACCUM-APPREC-OR-DEPREC> 46,987,573
<NET-ASSETS> 1,349,687,603
<DIVIDEND-INCOME> 33,996,382
<INTEREST-INCOME> 9,269,171
<OTHER-INCOME> 0
<EXPENSES-NET> (6,368,367)
<NET-INVESTMENT-INCOME> 36,897,186
<REALIZED-GAINS-CURRENT> (21,040,380)
<APPREC-INCREASE-CURRENT> (84,771,376)
<NET-CHANGE-FROM-OPS> (68,914,570)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (666,610)
<DISTRIBUTIONS-OF-GAINS> (1,227,161)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 749,665
<NUMBER-OF-SHARES-REDEEMED> (1,270,649)
<SHARES-REINVESTED> 174,941
<NET-CHANGE-IN-ASSETS> (291,071,611)
<ACCUMULATED-NII-PRIOR> 1,200,468
<ACCUMULATED-GAINS-PRIOR> 60,353,071
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3,437,011)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (6,368,367)
<AVERAGE-NET-ASSETS> 1,487,377,395
<PER-SHARE-NAV-BEGIN> 9.570
<PER-SHARE-NII> .200<F2>
<PER-SHARE-GAIN-APPREC> (.630)<F2>
<PER-SHARE-DIVIDEND> (.200)<F2>
<PER-SHARE-DISTRIBUTIONS> (.360)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 8.580
<EXPENSE-RATIO> 1.360<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 034
<NAME> FRANKLIN UTILITIES SERIES - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 1,256,247,511
<INVESTMENTS-AT-VALUE> 1,303,235,084
<RECEIVABLES> 52,627,063
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,355,862,147
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,174,544
<TOTAL-LIABILITIES> 6,174,544
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,322,118,124
<SHARES-COMMON-STOCK> 856,480
<SHARES-COMMON-PRIOR> 838,720
<ACCUMULATED-NII-CURRENT> 1,641,180
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (21,059,274)
<ACCUM-APPREC-OR-DEPREC> 46,987,573
<NET-ASSETS> 1,349,687,603
<DIVIDEND-INCOME> 33,996,382
<INTEREST-INCOME> 9,269,171
<OTHER-INCOME> 0
<EXPENSES-NET> (6,368,367)
<NET-INVESTMENT-INCOME> 36,897,186
<REALIZED-GAINS-CURRENT> (21,040,380)
<APPREC-INCREASE-CURRENT> (84,771,376)
<NET-CHANGE-FROM-OPS> (68,914,570)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (196,162)
<DISTRIBUTIONS-OF-GAINS> (304,748)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 30,221
<NUMBER-OF-SHARES-REDEEMED> (60,738)
<SHARES-REINVESTED> 48,277
<NET-CHANGE-IN-ASSETS> (291,071,611)
<ACCUMULATED-NII-PRIOR> 1,200,468
<ACCUMULATED-GAINS-PRIOR> 60,353,071
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (3,437,011)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (6,368,367)
<AVERAGE-NET-ASSETS> 1,487,377,395
<PER-SHARE-NAV-BEGIN> 9.610
<PER-SHARE-NII> .230<F2>
<PER-SHARE-GAIN-APPREC> (.640)<F2>
<PER-SHARE-DIVIDEND> (.230)<F2>
<PER-SHARE-DISTRIBUTIONS> (.360)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 8.610
<EXPENSE-RATIO> .710<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 041
<NAME> FRANKLIN INCOME SERIES - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 6,961,712,885
<INVESTMENTS-AT-VALUE> 6,525,768,143
<RECEIVABLES> 256,859,565
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,782,627,708
<PAYABLE-FOR-SECURITIES> 5,850,971
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 41,427,891
<TOTAL-LIABILITIES> 47,278,862
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,140,255,706
<SHARES-COMMON-STOCK> 2,726,824,000
<SHARES-COMMON-PRIOR> 3,032,386,878
<ACCUMULATED-NII-CURRENT> 40,345,031
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (9,240,637)
<ACCUM-APPREC-OR-DEPREC> (436,011,254)
<NET-ASSETS> 6,735,348,846
<DIVIDEND-INCOME> 99,953,218
<INTEREST-INCOME> 230,414,056
<OTHER-INCOME> 0
<EXPENSES-NET> (29,589,092)
<NET-INVESTMENT-INCOME> 300,778,182
<REALIZED-GAINS-CURRENT> 18,988,102
<APPREC-INCREASE-CURRENT> (350,608,916)
<NET-CHANGE-FROM-OPS> (30,842,632)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (263,651,275)
<DISTRIBUTIONS-OF-GAINS> (41,552,782)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 135,519,984
<NUMBER-OF-SHARES-REDEEMED> (525,277,628)
<SHARES-REINVESTED> 84,194,766
<NET-CHANGE-IN-ASSETS> (1,145,815,522)
<ACCUMULATED-NII-PRIOR> 43,630,103
<ACCUMULATED-GAINS-PRIOR> 20,135,302
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (16,386,795)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (29,589,092)
<AVERAGE-NET-ASSETS> 7,304,600,890
<PER-SHARE-NAV-BEGIN> 2.230
<PER-SHARE-NII> .090<F2>
<PER-SHARE-GAIN-APPREC> (.100)<F2>
<PER-SHARE-DIVIDEND> (.090)<F2>
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 2.120
<EXPENSE-RATIO> .740<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 042
<NAME> FRANKLIN INCOME SERIES - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 6,961,712,885
<INVESTMENTS-AT-VALUE> 6,525,768,143
<RECEIVABLES> 256,859,565
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,782,627,708
<PAYABLE-FOR-SECURITIES> 5,850,971
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 41,427,891
<TOTAL-LIABILITIES> 47,278,862
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,140,255,706
<SHARES-COMMON-STOCK> 47,484,178
<SHARES-COMMON-PRIOR> 37,147,261
<ACCUMULATED-NII-CURRENT> 40,345,031
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (9,240,637)
<ACCUM-APPREC-OR-DEPREC> (436,011,254)
<NET-ASSETS> 6,735,348,846
<DIVIDEND-INCOME> 99,953,218
<INTEREST-INCOME> 230,414,056
<OTHER-INCOME> 0
<EXPENSES-NET> (29,589,092)
<NET-INVESTMENT-INCOME> 300,778,182
<REALIZED-GAINS-CURRENT> 18,988,102
<APPREC-INCREASE-CURRENT> (350,608,916)
<NET-CHANGE-FROM-OPS> (30,842,632)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,597,805)
<DISTRIBUTIONS-OF-GAINS> (596,476)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14,164,531
<NUMBER-OF-SHARES-REDEEMED> (4,882,879)
<SHARES-REINVESTED> 1,055,265
<NET-CHANGE-IN-ASSETS> (1,145,815,522)
<ACCUMULATED-NII-PRIOR> 43,630,103
<ACCUMULATED-GAINS-PRIOR> 20,135,302
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (16,386,795)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (29,589,092)
<AVERAGE-NET-ASSETS> 7,304,600,890
<PER-SHARE-NAV-BEGIN> 2.240
<PER-SHARE-NII> .090<F2>
<PER-SHARE-GAIN-APPREC> (.110)<F2>
<PER-SHARE-DIVIDEND> (.090)<F2>
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 2.120
<EXPENSE-RATIO> 1.240<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 043
<NAME> FRANKLIN INCOME SERIES - CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 6,961,712,885
<INVESTMENTS-AT-VALUE> 6,525,768,143
<RECEIVABLES> 256,859,565
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,782,627,708
<PAYABLE-FOR-SECURITIES> 5,850,971
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 41,427,891
<TOTAL-LIABILITIES> 47,278,862
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,140,255,706
<SHARES-COMMON-STOCK> 386,243,228
<SHARES-COMMON-PRIOR> 444,804,961
<ACCUMULATED-NII-CURRENT> 40,345,031
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (9,240,637)
<ACCUM-APPREC-OR-DEPREC> (436,011,254)
<NET-ASSETS> 6,735,348,846
<DIVIDEND-INCOME> 99,953,218
<INTEREST-INCOME> 230,414,056
<OTHER-INCOME> 0
<EXPENSES-NET> (29,589,092)
<NET-INVESTMENT-INCOME> 300,778,182
<REALIZED-GAINS-CURRENT> 18,988,102
<APPREC-INCREASE-CURRENT> (350,608,916)
<NET-CHANGE-FROM-OPS> (30,842,632)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (35,946,205)
<DISTRIBUTIONS-OF-GAINS> (6,094,233)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 32,693,455
<NUMBER-OF-SHARES-REDEEMED> (103,576,087)
<SHARES-REINVESTED> 12,320,899
<NET-CHANGE-IN-ASSETS> (1,145,815,522)
<ACCUMULATED-NII-PRIOR> 43,630,103
<ACCUMULATED-GAINS-PRIOR> 20,135,302
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (16,386,795)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (29,589,092)
<AVERAGE-NET-ASSETS> 7,304,600,890
<PER-SHARE-NAV-BEGIN> 2.240
<PER-SHARE-NII> .080<F2>
<PER-SHARE-GAIN-APPREC> (.100)<F2>
<PER-SHARE-DIVIDEND> (.080)<F2>
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 2.130
<EXPENSE-RATIO> 1.240<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 044
<NAME> FRANKLIN INCOME SERIES - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 6,961,712,885
<INVESTMENTS-AT-VALUE> 6,525,768,143
<RECEIVABLES> 256,859,565
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,782,627,708
<PAYABLE-FOR-SECURITIES> 5,850,971
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 41,427,891
<TOTAL-LIABILITIES> 47,278,862
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,140,255,706
<SHARES-COMMON-STOCK> 8,609,639
<SHARES-COMMON-PRIOR> 10,711,033
<ACCUMULATED-NII-CURRENT> 40,345,031
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (9,240,637)
<ACCUM-APPREC-OR-DEPREC> (436,011,254)
<NET-ASSETS> 6,735,348,846
<DIVIDEND-INCOME> 99,953,218
<INTEREST-INCOME> 230,414,056
<OTHER-INCOME> 0
<EXPENSES-NET> (29,589,092)
<NET-INVESTMENT-INCOME> 300,778,182
<REALIZED-GAINS-CURRENT> 18,988,102
<APPREC-INCREASE-CURRENT> (350,608,916)
<NET-CHANGE-FROM-OPS> (30,842,632)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (867,969)
<DISTRIBUTIONS-OF-GAINS> (120,550)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,675,153
<NUMBER-OF-SHARES-REDEEMED> (5,163,192)
<SHARES-REINVESTED> 386,645
<NET-CHANGE-IN-ASSETS> (1,145,815,522)
<ACCUMULATED-NII-PRIOR> 43,630,103
<ACCUMULATED-GAINS-PRIOR> 20,135,302
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (16,386,795)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (29,589,092)
<AVERAGE-NET-ASSETS> 7,304,600,890
<PER-SHARE-NAV-BEGIN> 2.230
<PER-SHARE-NII> .090<F2>
<PER-SHARE-GAIN-APPREC> (.100)<F2>
<PER-SHARE-DIVIDEND> (.090)<F2>
<PER-SHARE-DISTRIBUTIONS> (.010)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 2.120
<EXPENSE-RATIO> .590<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARES OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 051
<NAME> FRANKLIN U.S. GOVERNMENT SECURITIES SERIES - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 7,706,533,901
<INVESTMENTS-AT-VALUE> 7,507,886,416
<RECEIVABLES> 49,785,929
<ASSETS-OTHER> 1,203
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7,557,673,548
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38,478,463
<TOTAL-LIABILITIES> 38,478,463
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,039,310,502
<SHARES-COMMON-STOCK> 1,092,660,926
<SHARES-COMMON-PRIOR> 1,192,036,231
<ACCUMULATED-NII-CURRENT> 10,784,047
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (332,251,979)
<ACCUM-APPREC-OR-DEPREC> (198,647,485)
<NET-ASSETS> 7,519,195,085
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 288,456,316
<OTHER-INCOME> 0
<EXPENSES-NET> (28,043,100)
<NET-INVESTMENT-INCOME> 260,413,216
<REALIZED-GAINS-CURRENT> (42,305,552)
<APPREC-INCREASE-CURRENT> (74,800,491)
<NET-CHANGE-FROM-OPS> 143,307,173
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (242,728,081)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 80,377,187
<NUMBER-OF-SHARES-REDEEMED> (199,371,118)
<SHARES-REINVESTED> 19,618,626
<NET-CHANGE-IN-ASSETS> (752,649,350)
<ACCUMULATED-NII-PRIOR> 4,078,828
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (289,946,427)
<GROSS-ADVISORY-FEES> (17,736,651)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (28,043,100)
<AVERAGE-NET-ASSETS> 7,869,136,085
<PER-SHARE-NAV-BEGIN> 6.620
<PER-SHARE-NII> .220<F2>
<PER-SHARE-GAIN-APPREC> (.210)<F2>
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> (.090)<F2>
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 6.54
<EXPENSE-RATIO> .680<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARE OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 052
<NAME> FRANKLIN U.S. GOVERNMENT SECURITIES SERIES - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 7,706,533,901
<INVESTMENTS-AT-VALUE> 7,507,886,416
<RECEIVABLES> 49,785,929
<ASSETS-OTHER> 1,203
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7,557,673,548
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38,478,463
<TOTAL-LIABILITIES> 38,478,463
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,039,310,502
<SHARES-COMMON-STOCK> 10,115,350
<SHARES-COMMON-PRIOR> 7,770,969
<ACCUMULATED-NII-CURRENT> 10,784,047
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (332,251,979)
<ACCUM-APPREC-OR-DEPREC> (198,647,485)
<NET-ASSETS> 7,519,195,085
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 288,456,316
<OTHER-INCOME> 0
<EXPENSES-NET> (28,043,100)
<NET-INVESTMENT-INCOME> 260,413,216
<REALIZED-GAINS-CURRENT> (42,305,552)
<APPREC-INCREASE-CURRENT> (74,800,491)
<NET-CHANGE-FROM-OPS> 143,307,173
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,717,030)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,267,021
<NUMBER-OF-SHARES-REDEEMED> (1,096,628)
<SHARES-REINVESTED> 173,988
<NET-CHANGE-IN-ASSETS> (752,649,350)
<ACCUMULATED-NII-PRIOR> 4,078,828
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (289,946,427)
<GROSS-ADVISORY-FEES> (17,736,651)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (28,043,100)
<AVERAGE-NET-ASSETS> 7,869,136,085
<PER-SHARE-NAV-BEGIN> 6.620
<PER-SHARE-NII> .200<F2>
<PER-SHARE-GAIN-APPREC> (.190)<F2>
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> (.100)<F2>
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 6.530
<EXPENSE-RATIO> 1.220<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARE OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 053
<NAME> FRANKLIN U.S. GOVERNMENT SECURITIES SERIES - CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 7,706,533,901
<INVESTMENTS-AT-VALUE> 7,507,886,416
<RECEIVABLES> 49,785,929
<ASSETS-OTHER> 1,203
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7,557,673,548
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38,478,463
<TOTAL-LIABILITIES> 38,478,463
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,039,310,502
<SHARES-COMMON-STOCK> 41,445,290
<SHARES-COMMON-PRIOR> 46,793,514
<ACCUMULATED-NII-CURRENT> 10,784,047
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (332,251,979)
<ACCUM-APPREC-OR-DEPREC> (198,647,485)
<NET-ASSETS> 7,519,195,085
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 288,456,316
<OTHER-INCOME> 0
<EXPENSES-NET> (28,043,100)
<NET-INVESTMENT-INCOME> 260,413,216
<REALIZED-GAINS-CURRENT> (42,305,552)
<APPREC-INCREASE-CURRENT> (74,800,491)
<NET-CHANGE-FROM-OPS> 143,307,173
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,706,877)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,164,719
<NUMBER-OF-SHARES-REDEEMED> (13,409,713)
<SHARES-REINVESTED> 896,770
<NET-CHANGE-IN-ASSETS> (752,649,350)
<ACCUMULATED-NII-PRIOR> 4,078,828
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (289,946,427)
<GROSS-ADVISORY-FEES> (17,736,651)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (28,043,100)
<AVERAGE-NET-ASSETS> 7,869,136,085
<PER-SHARE-NAV-BEGIN> 6.600
<PER-SHARE-NII> .200<F2>
<PER-SHARE-GAIN-APPREC> (.190)<F2>
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> (.090)<F2>
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 6.52
<EXPENSE-RATIO> 1.220<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARE OUTSTANDING EFFECTIVE YEAR END SEPTEMBER 30, 1999
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
CUSTODIAN FUNDS, INC. MARCH 31, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 054
<NAME> FRANKLIN U.S. GOVERNMENT SECURITIES SERIES - ADVISOR CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 7,706,533,901
<INVESTMENTS-AT-VALUE> 7,507,886,416
<RECEIVABLES> 49,785,929
<ASSETS-OTHER> 1,203
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7,557,673,548
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 38,478,463
<TOTAL-LIABILITIES> 38,478,463
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,039,310,502
<SHARES-COMMON-STOCK> 5,964,008
<SHARES-COMMON-PRIOR> 2,345,521
<ACCUMULATED-NII-CURRENT> 10,784,047
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (332,251,979)
<ACCUM-APPREC-OR-DEPREC> (198,647,485)
<NET-ASSETS> 7,519,195,085
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 288,456,316
<OTHER-INCOME> 0
<EXPENSES-NET> (28,043,100)
<NET-INVESTMENT-INCOME> 260,413,216
<REALIZED-GAINS-CURRENT> (42,305,552)
<APPREC-INCREASE-CURRENT> (74,800,491)
<NET-CHANGE-FROM-OPS> 143,307,173
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (556,009)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,365,707
<NUMBER-OF-SHARES-REDEEMED> (808,701)
<SHARES-REINVESTED> 61,481
<NET-CHANGE-IN-ASSETS> (752,649,350)
<ACCUMULATED-NII-PRIOR> 4,078,828
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (289,946,427)
<GROSS-ADVISORY-FEES> (17,736,651)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (28,043,100)
<AVERAGE-NET-ASSETS> 7,869,136,085
<PER-SHARE-NAV-BEGIN> 6.630
<PER-SHARE-NII> .220<F2>
<PER-SHARE-GAIN-APPREC> (.210)<F2>
<PER-SHARE-DIVIDEND> 000
<PER-SHARE-DISTRIBUTIONS> (.100)<F2>
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 6.540
<EXPENSE-RATIO> .580<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARE OUTSTANDING EFFECTIVE SEPTEMBER 30, 1999
</FN>
</TABLE>
wpdoc2\nsar\1999\189-77D.doc
11/16/99
NAME OF REGISTRANT:
Franklin Custodian Funds, Inc.
File No. 811-537
EXHIBIT ITEM No. 77D: Policies with respect to security
investments
At a meeting held on January 20, 2000, the Board of Directors of
the Registrant approved the following resolution:
RESOLVED, that effective April 1, 2000 the Fund's U.S.
Government Securities be given investment flexibility to invest
cash in repurchase agreements collateralized by U.S. Government
Securities and that the current non fundamental policy precluding
investments in repurchase agreements for such Series be changed
accordingly; and
FURTHER RESOLVED, that counsel to the Fund and other
appropriate officers of the Fund take such action as may be
necessary or appropriate to effectuate the foregoing, including
without limitation, disclosing such change in policy in the
Fund's February 1, 2000 prospectus.
