<PAGE> PAGE 1
000 A000000 06/30/96
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002 A000000 777 MARINERS ISLAND BOULEVARD
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002 D020000 1585
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007 C010200 2
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007 C030200 N
007 C010300 3
007 C020300 FRANKLIN NY INTERM-TERM TAX-FREE INCOME FUND
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007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
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008 B00AA01 A
008 C00AA01 801-26292
008 D01AA01 SAN MATEO
008 D02AA01 CA
008 D03AA01 94403
008 D04AA01 7777
011 A00AA01 FRANKLIN/TEMPLETON DISTRIBUTORS, INC.
011 B00AA01 8-5889
011 C01AA01 SAN MATEO
011 C02AA01 CA
011 C03AA01 94403
<PAGE> PAGE 2
011 C04AA01 7777
012 A00AA01 FRANKLIN/TEMPLETON INVESTOR SERVICES, INC.
012 B00AA01 84-1036
012 C01AA01 SAN MATEO
012 C02AA01 CA
012 C03AA01 94403
012 C04AA01 7777
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 SAN FRANCISCO
013 B02AA01 CA
013 B03AA01 94105
013 B04AA01 2119
014 A00AA01 FRANKLIN/TEMPLETON DISTRIBUTORS, INC.
014 B00AA01 8-5889
015 A00AA01 BANK OF AMERICA NT & SA
015 B00AA01 C
015 C01AA01 SAN FRANCISCO
015 C02AA01 CA
015 C03AA01 94104
015 C04AA01 1502
015 E01AA01 X
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015 C03AA02 19720
015 C04AA02 2409
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<PAGE> PAGE 3
022 C000001 27604
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022 C000008 2331
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022 A000009 SAMUEL A RAMIREZ & CO., INC.
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<PAGE> PAGE 4
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<PAGE> PAGE 5
054 K00AA00 Y
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<PAGE> PAGE 6
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<PAGE> PAGE 7
070 C010100 N
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070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
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070 N020100 N
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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032 000200 542
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<PAGE> PAGE 10
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043 000200 106
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055 A000200 N
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056 000200 N
057 000200 N
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060 B000200 N
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062 C000200 0.0
062 D000200 0.0
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063 B000200 7.6
064 A000200 Y
064 B000200 N
070 A010200 N
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
<PAGE> PAGE 11
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 Y
070 P020200 Y
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 29137
071 B000200 21077
071 C000200 255252
071 D000200 8
072 A000200 6
072 B000200 7571
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072 F000200 702
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<PAGE> PAGE 12
072 W000200 77
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074 D000200 252593
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028 A010300 3127
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<PAGE> PAGE 13
028 A040300 548
028 B010300 1929
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032 000300 84
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<PAGE> PAGE 14
043 000300 21
044 000300 8
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056 000300 N
057 000300 N
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061 000300 100
062 A000300 Y
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062 P000300 0.0
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070 H020300 N
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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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 NEW YORK TAX-FREE TRUST JUNE 30, 1996 SEMI-ANNUAL
REPORT AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> FRANKLIN NEW YORK TAX-EXEMPT MONEY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 60,457,378
<INVESTMENTS-AT-VALUE> 60,457,378
<RECEIVABLES> 547,706
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<SHARES-COMMON-STOCK> 62,618,913
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<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 62,618,913
<DIVIDEND-INCOME> 0
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<OTHER-INCOME> 0
<EXPENSES-NET> (185,752)
<NET-INVESTMENT-INCOME> 842,263
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<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 842,263
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (842,263)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
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<NUMBER-OF-SHARES-REDEEMED> (30,612,909)
<SHARES-REINVESTED> 843,527
<NET-CHANGE-IN-ASSETS> 1,540,235
<ACCUMULATED-NII-PRIOR> 0
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<AVERAGE-NET-ASSETS> 62,012,776
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> .014
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> (.014)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .600
<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 NEW YORK TAX-FREE TRUST JUNE 30, 1996 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 021
<NAME> FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND - CLASS I
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 244,907,003
<INVESTMENTS-AT-VALUE> 252,692,880
<RECEIVABLES> 5,140,213
<ASSETS-OTHER> 64,459
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 257,897,552
<PAYABLE-FOR-SECURITIES> 1,353,889
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 530,829
<TOTAL-LIABILITIES> 1,884,718
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 251,604,318
<SHARES-COMMON-STOCK> 22,886,729
<SHARES-COMMON-PRIOR> 22,454,811
<ACCUMULATED-NII-CURRENT> 158,627
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,535,988)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,785,877
<NET-ASSETS> 256,012,834
<DIVIDEND-INCOME> 0
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<OTHER-INCOME> 0
<EXPENSES-NET> (915,207)
<NET-INVESTMENT-INCOME> 6,656,115
<REALIZED-GAINS-CURRENT> 289,561
<APPREC-INCREASE-CURRENT> (8,262,129)
<NET-CHANGE-FROM-OPS> (1,316,453)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,689,704)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,713,172
<NUMBER-OF-SHARES-REDEEMED> (1,624,340)
<SHARES-REINVESTED> 343,086
<NET-CHANGE-IN-ASSETS> (854,154)
<ACCUMULATED-NII-PRIOR> 233,712
<ACCUMULATED-GAINS-PRIOR> (3,825,549)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 702,027
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 963,167
<AVERAGE-NET-ASSETS> 256,610,099
<PER-SHARE-NAV-BEGIN> 11.410
<PER-SHARE-NII> 0.290
<PER-SHARE-GAIN-APPREC> (0.346)
<PER-SHARE-DIVIDEND> (0.294)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.060
<EXPENSE-RATIO> 0.710
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN NEW YORK TAX-FREE TRUST JUNE 30, 1996 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 022
<NAME> FRANKLIN NEW YORK INSURED TAX-FREE INCOME FUND - CLASS II
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 244,907,003
<INVESTMENTS-AT-VALUE> 252,692,880
<RECEIVABLES> 5,140,213
<ASSETS-OTHER> 64,459
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 257,897,552
<PAYABLE-FOR-SECURITIES> 1,353,889
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 530,829
<TOTAL-LIABILITIES> 1,884,718
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 251,604,318
<SHARES-COMMON-STOCK> 264,681
<SHARES-COMMON-PRIOR> 60,671
<ACCUMULATED-NII-CURRENT> 158,627
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,535,988)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,785,877
<NET-ASSETS> 256,012,834
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,571,322
<OTHER-INCOME> 0
<EXPENSES-NET> (915,207)
<NET-INVESTMENT-INCOME> 6,656,115
<REALIZED-GAINS-CURRENT> 289,561
<APPREC-INCREASE-CURRENT> (8,262,129)
<NET-CHANGE-FROM-OPS> (1,316,453)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (41,496)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 207,875
<NUMBER-OF-SHARES-REDEEMED> (6,285)
<SHARES-REINVESTED> 2,420
<NET-CHANGE-IN-ASSETS> (854,154)
<ACCUMULATED-NII-PRIOR> 233,712
<ACCUMULATED-GAINS-PRIOR> (3,825,549)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 702,027
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 963,167
<AVERAGE-NET-ASSETS> 256,610,099
<PER-SHARE-NAV-BEGIN> 11.460
<PER-SHARE-NII> 0.180
<PER-SHARE-GAIN-APPREC> (0.260)
<PER-SHARE-DIVIDEND> (0.260)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.120
<EXPENSE-RATIO> 1.250
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN NEW YORK TAX-FREE TRUST JUNE 30, 1996 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 03
<NAME> FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 41,300,434
<INVESTMENTS-AT-VALUE> 42,591,161
<RECEIVABLES> 1,010,063
<ASSETS-OTHER> 24,428
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 43,625,652
<PAYABLE-FOR-SECURITIES> 226,280
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 93,584
<TOTAL-LIABILITIES> 319,864
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 44,880,816
<SHARES-COMMON-STOCK> 4,286,390
<SHARES-COMMON-PRIOR> 4,155,718
<ACCUMULATED-NII-CURRENT> 182,703
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,048,458)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,290,727
<NET-ASSETS> 43,305,788
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,289,031
<OTHER-INCOME> 0
<EXPENSES-NET> (79,315)
<NET-INVESTMENT-INCOME> 1,209,716
<REALIZED-GAINS-CURRENT> (250,817)
<APPREC-INCREASE-CURRENT> (1,109,571)
<NET-CHANGE-FROM-OPS> (150,672)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,201,669)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 766,073
<NUMBER-OF-SHARES-REDEEMED> (704,267)
<SHARES-REINVESTED> 68,866
<NET-CHANGE-IN-ASSETS> 76,716
<ACCUMULATED-NII-PRIOR> 174,656
<ACCUMULATED-GAINS-PRIOR> (2,797,641)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 138,928
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 177,254
<AVERAGE-NET-ASSETS> 44,295,693
<PER-SHARE-NAV-BEGIN> 10.400
<PER-SHARE-NII> .280
<PER-SHARE-GAIN-APPREC> (.304)
<PER-SHARE-DIVIDEND> (.276)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 10.100
<EXPENSE-RATIO> .360
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
</TABLE>
