<PAGE> PAGE 1
000 A000000 06/30/98
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000 J000000 A
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001 C000000 6503122000
002 A000000 777 MARINERS ISLAND BOULEVARD
002 B000000 SAN MATEO
002 C000000 CA
002 D010000 94404
002 D020000 1585
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 FRANKLIN NEW YORK TAX-EXEMPT MONEY FUND
007 C030100 N
007 C010200 2
007 C020200 FRANKLIN NY INSURED TAX-FREE INCOME FUND
007 C030200 N
007 C010300 3
007 C020300 FRANKLIN NY INTERM-TERM TAX-FREE INCOME FUND
007 C030300 N
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 94404
008 D04AA01 1585
010 A00AA01 FRANKLIN TEMPLETON SERVICES, INC.
010 B00AA01 00000
010 C01AA01 SAN MATEO
010 C02AA01 CA
010 C03AA01 94404
<PAGE> PAGE 2
010 C04AA01 1585
011 A00AA01 FRANKLIN/TEMPLETON DISTRIBUTORS, INC.
011 B00AA01 8-5889
011 C01AA01 SAN MATEO
011 C02AA01 CA
011 C03AA01 94404
011 C04AA01 1585
012 A00AA01 FRANKLIN/TEMPLETON INVESTOR SERVICES, INC.
012 B00AA01 84-1036
012 C01AA01 SAN MATEO
012 C02AA01 CA
012 C03AA01 94404
012 C04AA01 1585
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013 B02AA01 CA
013 B03AA01 94105
013 B04AA01 2119
014 A00AA01 FRANKLIN/TEMPLETON DISTRIBUTORS, INC.
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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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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070 I020100 N
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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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<PAGE> PAGE 11
058 A000200 N
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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 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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SIGNATURE LAURA FERGERSON
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN NEW YORK TAX-FREE TRUST JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 011
<NAME> FRANKLIN NEW YORK TAX-EXEMPT MONEY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
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<INVESTMENTS-AT-VALUE> 60,536,560
<RECEIVABLES> 514,198
<ASSETS-OTHER> 140,159
<OTHER-ITEMS-ASSETS> 0
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<SENIOR-EQUITY> 0
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<SHARES-COMMON-STOCK> 58,432,961
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 58,432,961
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,064,428
<OTHER-INCOME> 0
<EXPENSES-NET> (184,539)
<NET-INVESTMENT-INCOME> 879,889
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 879,889
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (879,889)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
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<NET-CHANGE-IN-ASSETS> (5,286,804)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (257,107)
<AVERAGE-NET-ASSETS> 62,072,829
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> .010
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> (.010)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> .590<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED; EXPENSE RATIO EXCLUDING WAIVER .83%
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN NEW YORK TAX-FREE TRUST JUNE 30, 1998 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-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 253,093,877
<INVESTMENTS-AT-VALUE> 270,599,875
<RECEIVABLES> 5,391,940
<ASSETS-OTHER> 70,130
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 276,061,945
<PAYABLE-FOR-SECURITIES> 2,498,879
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 859,061
<TOTAL-LIABILITIES> 3,357,940
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 254,137,461
<SHARES-COMMON-STOCK> 22,824,133
<SHARES-COMMON-PRIOR> 22,389,356
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (8,967)
<ACCUMULATED-NET-GAINS> 1,069,513
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17,505,998
<NET-ASSETS> 272,704,005
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,543,541
<OTHER-INCOME> 0
<EXPENSES-NET> (976,915)
<NET-INVESTMENT-INCOME> 6,566,626
<REALIZED-GAINS-CURRENT> 1,572,243
<APPREC-INCREASE-CURRENT> (1,237,147)
<NET-CHANGE-FROM-OPS> 6,901,722
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,450,851)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,509,540
<NUMBER-OF-SHARES-REDEEMED> (1,378,183)
<SHARES-REINVESTED> 303,420
<NET-CHANGE-IN-ASSETS> 6,112,643
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (943)
<OVERDIST-NET-GAINS-PRIOR> (502,730)
<GROSS-ADVISORY-FEES> (732,735)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (976,915)
<AVERAGE-NET-ASSETS> 269,596,428
<PER-SHARE-NAV-BEGIN> 11.660
<PER-SHARE-NII> .280
<PER-SHARE-GAIN-APPREC> .010
<PER-SHARE-DIVIDEND> (.280)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 11.670
<EXPENSE-RATIO> .710<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN NEW YORK TAX-FREE TRUST JUNE 30, 1998 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-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 253,093,877
<INVESTMENTS-AT-VALUE> 270,599,875
<RECEIVABLES> 5,391,940
<ASSETS-OTHER> 70,130
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 276,061,945
<PAYABLE-FOR-SECURITIES> 2,498,879
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 859,061
<TOTAL-LIABILITIES> 3,357,940
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 254,137,461
<SHARES-COMMON-STOCK> 535,781
<SHARES-COMMON-PRIOR> 476,869
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (8,967)
<ACCUMULATED-NET-GAINS> 1,069,513
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17,505,998
<NET-ASSETS> 272,704,005
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,543,541
<OTHER-INCOME> 0
<EXPENSES-NET> (976,915)
<NET-INVESTMENT-INCOME> 6,566,626
<REALIZED-GAINS-CURRENT> 1,572,243
<APPREC-INCREASE-CURRENT> (1,237,147)
<NET-CHANGE-FROM-OPS> 6,901,722
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (123,799)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 109,406
<NUMBER-OF-SHARES-REDEEMED> (58,194)
<SHARES-REINVESTED> 7,700
<NET-CHANGE-IN-ASSETS> 6,112,643
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (943)
<OVERDIST-NET-GAINS-PRIOR> (502,730)
<GROSS-ADVISORY-FEES> (732,735)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (976,915)
<AVERAGE-NET-ASSETS> 269,596,428
<PER-SHARE-NAV-BEGIN> 11.750
<PER-SHARE-NII> .300
<PER-SHARE-GAIN-APPREC> (.020)
<PER-SHARE-DIVIDEND> (.250)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 11.780
<EXPENSE-RATIO> 1.270<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FRANKLIN NEW YORK TAX-FREE TRUST JUNE 30, 1998 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 031
<NAME> FRANKLIN NEW YORK INTERMEDIATE-TERM TAX-FREE INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 61,780,815
<INVESTMENTS-AT-VALUE> 65,379,836
<RECEIVABLES> 1,372,639
<ASSETS-OTHER> 29,307
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 66,781,782
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 510,439
<TOTAL-LIABILITIES> 510,439
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 65,101,023
<SHARES-COMMON-STOCK> 6,225,140
<SHARES-COMMON-PRIOR> 5,547,273
<ACCUMULATED-NII-CURRENT> 130,908
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2,559,609)
<ACCUM-APPREC-OR-DEPREC> 3,599,021
<NET-ASSETS> 66,271,343
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,609,729
<OTHER-INCOME> 0
<EXPENSES-NET> (133,788)
<NET-INVESTMENT-INCOME> 1,475,941
<REALIZED-GAINS-CURRENT> 262,017
<APPREC-INCREASE-CURRENT> 108
<NET-CHANGE-FROM-OPS> 1,738,066
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,521,936)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,834,313
<NUMBER-OF-SHARES-REDEEMED> (1,246,808)
<SHARES-REINVESTED> 90,362
<NET-CHANGE-IN-ASSETS> 7,355,141
<ACCUMULATED-NII-PRIOR> 176,903
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (2,821,626)
<GROSS-ADVISORY-FEES> (188,041)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (243,159)
<AVERAGE-NET-ASSETS> 60,001,674
<PER-SHARE-NAV-BEGIN> 10.620
<PER-SHARE-NII> .260
<PER-SHARE-GAIN-APPREC> .040
<PER-SHARE-DIVIDEND> (.270)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 10.650
<EXPENSE-RATIO> .450<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>ANNUALIZED; EXPENSE RATIO EXCLUDING WAIVER .82%
</FN>
</TABLE>
