UNITED STATES
SECURITIES AND EXCHANGE COMMISSSION
WASHINGTON, D.C. 20549
________________________
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _______)*
HIGH POINT FINANCIAL CORPORATION
____________________________________________________________
(Name of Issuer)
COMMON STOCK, NO PAR VALUE
____________________________________________________________
(Title of Class of Securities)
429711 10 4
____________________________________________________________
(CUSIP Number)
Attention: Vincent G. Noggle
Franklin Mutual Insurance Company
P.O. Box 400
Branchville, New Jersey 07826-0400
(973) 948-3120
____________________________________________________________
(Name, Address and Telephone Number of person
authorized to receive notices and communications)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filling person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7.)
(Continued on following pages)
(page 1 of 3 pages)
<PAGE>
CUSIP No. 429711 10 4 SCHEDULE 13G Page 2 of 3 Pages
_____________________________________________________________________________
1. Name of Reporting Person
I.R.S. Identification No. of Above Person
The Franklin Mutual Insurance Company 22-0923502
_____________________________________________________________________________
2. Check the Appropriate Box if a Member of a Group*
(a) |__|
(b) |__|
_____________________________________________________________________________
3. SEC Use Only
_____________________________________________________________________________
4. Citizenship or Place of Organization
United States
_____________________________________________________________________________
5. Sole Voting Power
Number of
Shares 250,976
Beneficially ___________________________________________________________
Owned By 6. Shared Voting Power
Each
Reporting ___________________________________________________________
Person 7. Sole Dispositive Power
With
___________________________________________________________
8. Shared Dispositive Power
_____________________________________________________________________________
9. Aggregate Amount Beneficially Owned by Each Reporting Person
250,976
_____________________________________________________________________________
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
|__|
_____________________________________________________________________________
11. Percent of Class Represented by Amount in Row 9
6.58%
_____________________________________________________________________________
12. Type of Reporting Person *
* SEE INSTRUCTIONS BEFORE FILLING OUT !
<PAGE>
CUSIP No. 429711 10 4 SCHEDULE 13G Page 3 of 3 Pages
Supplemental Statement
Item 1 (a) Name of Issuer: High Point Financial Corporation
Item 1 (b) P.O. Box 460
Branchville, New Jersey 07826
Item 2 (a) Name of Person Filing: Franklin Mutual Insurance Company
Item 2 (b) P.O. Box 400
Branchville, New Jersey 07826
Item 2 (c) State of New Jersey Corporation
Item 2 (d) Title of Class Securities: Common Stock
Item 2 (e) CUSIP Number: 429711 10 4
Item 3 This statement is filed pursuant to Rules 13d-1(b), or 13-d2,
and the person filing is a:
(c) Insurance Company as defined in Section 3(a) (19) of the Act
Item 4 Ownership
(a) Amount Beneficially Owned: 250,976 Shares
(b) Percent of Class: 6.6 %
(c) Sole Power to Vote: 250,976 Shares
Item 10 Certification
By signing below, I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any transaction
having such purpose or effect.
The Franklin Mutual Insurance Company
After reasonable inquiry and to the best knowledge and belief, I certify
that the information set forth in this statement is true, complete and
correct.
January 29, 1998 HIGH POINT FINANCIAL CORPORATION
By: /s/ VINCENT G. NOGGLE, TREASURER
_________________________________
Name: Vincent G. Noggle
