<PAGE> PAGE 1
000 B000000 08/31/94
000 C000000 805664
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2.a
000 J000000 A
"001 A000000 TEMPLETON GROWTH FUND,INC."
001 B000000 811-4892
001 C000000 3055277591
"002 A000000 500 EAST BROWARD BLVD., SUITE 2100"
002 B000000 FT. LAUDERDALE
002 C000000 FL
002 D010000 33394
002 D020000 3091
003 000000 N
004 000000 N
005 000000 N
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007 C010400 4
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007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
"008 A000001 TEMPLETON, GALBRAITH & HANSBERGER LTD."
008 B000001 A
008 C000001 801-42343
008 D010001 LYFORD CAY
"008 D050001 NASSAU, BAHAMAS"
"010 A000001 TEMPLETON GLOBAL INVESTORS, INC."
010 C010001 FORT LAUDERDALE
010 C020001 FL
010 C030001 33394
010 C040001 3091
"011 A000001 FRANKLIN/TEMPLETON DISTRIBUTORS,INC"
011 B000001 8-5889
011 C010001 ST. PETERSBURG
011 C020001 FL
011 C030001 33701
011 C040001 3628
012 A000001 FRANKLIN/TEMPLETON INVESTMENT SERVICES INC.
012 B000001 84-00000
<PAGE> PAGE 2
012 C010001 ST. PETERSBURG
012 C020001 FL
012 C030001 33701
012 C040001 3628
013 A000001 MCGLADREY & PULLEN
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10036
015 A000001 THE CHASE MANHATTAN BANK N.A.
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 11245
015 E010001 X
"015 A000002 CHASE MANHATTAN BANK, N.A."
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 E040002 X
015 A000003 CHASE MANHATTAN BANK AUSTRALIA LTD.
015 B000003 S
015 C010003 SYDNEY
015 D010003 AUSTRALIA
015 D020003 2000
015 E040003 X
015 A000004 CREDITANSTALT - BANKVEREIN
015 B000004 S
015 C010004 VIENNA
015 D010004 AUSTRIA
015 D020004 A-1011
015 E040004 X
015 A000005 GENERALE BANK
015 B000005 S
015 C010005 BRUXELLES
015 D010005 BELGIUM
015 D020005 1000
015 E040005 X
015 A000006 BANCO CHASE MANHATTAN S.A.
015 B000006 S
015 C010006 SAO PAULO
015 D010006 BRAZIL
015 D020006 04719-002
015 E040006 X
015 A000007 THE ROYAL BANK OF CANADA
015 B000007 S
015 C010007 TORONTO
015 D010007 CANADA
015 D020007 M5J-2J5
015 E040007 X
015 A000008 CANADA TRUST COMPANY
015 B000008 S
<PAGE> PAGE 3
015 C010008 TORONTO
015 D010008 CANADA
015 D020008 M5J-2T2
015 E040008 X
015 A000009 DELETE
015 A000010 DEN DANSKE BANK
015 B000010 S
015 C010010 COPENHAGEN
015 D010010 DENMARK
015 E040010 X
015 A000011 DELETE
"015 A000012 THE CHASE MANHATTAN BANK, N.A."
015 B000012 S
015 C010012 LONDON
015 D010012 UNITED KINGDOM
015 D020012 EC2P 2HD
015 E040012 X
015 A000013 KANSALLIS-OSAKE-PANKKI
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015 C010013 HELSINKI
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015 D020013 00100
015 E040013 X
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015 E040014 X
"015 A000015 CHASE BANK, A.G."
015 B000015 S
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015 D010015 GERMANY
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015 E040015 X
015 A000016 BARCLAYS BANK PLC.
015 B000016 S
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015 D020016 10562
015 E040016 X
"015 A000017 CHASE MANHATTAN BANK, N.A."
015 B000017 S
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015 E040017 X
015 A000018 HONG KONG AND SHANGHAI BANKING CORP. LTD
015 B000018 S
015 C010018 JAKARTA
015 D010018 INDONESIA
015 D020018 10033
<PAGE> PAGE 4
015 E040018 X
015 A000019 BANK OF IRELAND
015 B000019 S
015 C010019 DUBLIN
015 D010019 IRELAND
015 D020019 1
015 E040019 X
"015 A000020 CHASE MANHATTAN BANK, N.A."
015 B000020 S
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015 E040020 X
"015 A000021 CHASE MANHATTAN BANK, N.A."
015 B000021 S
015 C010021 TOKYO
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015 D020021 100
015 E040021 X
015 A000022 DELETE
015 A000023 DELETE
"015 A000024 CHASE MANHATTAN BANK, N.A."
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015 C010024 KUALA LUMPUR
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015 D010025 MEXICO
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015 A000029 HONG KONG & SHANGHAI BANKING CORP. LTD.
<PAGE> PAGE 5
015 B000029 S
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"015 A000038 CITIBANK, N.A."
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<PAGE> PAGE 6
015 D020038 1010
015 E040038 X
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015 A000041 HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B000041 S
015 C010041 SEOUL
015 D010041 SOUTH KOREA
015 E040041 X
015 A000042 STANDARD CHARTERED BANK
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015 C010042 DHAKA
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015 A000043 BANK LEUMI LE-ISREAL B. M.
015 B000043 S
015 C010043 TEL AVIV
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015 D020043 65136
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015 A000044 THE HONGKONG AND SHANGHAI BANKING CORP LTD
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015 D010044 CHINA
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015 C010045 SHENZHEN
015 D010045 CHINA
015 E040045 X
015 A000046 DELETE
015 A000047 DELETE
015 A000048 DELETE
015 A000049 DELETE
015 A000050 THE FIRST NATIONAL BANK OF BOSTON
015 B000050 S
015 C010050 MONTEVIDEO
015 D010050 URUGUAY
015 E040050 X
015 A000051 DELETE
015 A000052 CEDEL S.A.
015 B000052 S
015 C010052 LUXEMBOURG
015 D010052 LUXEMBOURG
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<PAGE> PAGE 7
015 A000053 FIRST CHICAGO CLEARING CENTRE
015 B000053 S
015 C010053 LONDON
015 D010053 UNITED KINGDOM
015 E040053 X
015 A000054 RESERVE BANK
015 B000054 S
015 C010054 SYDNEY
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015 E040054 X
015 A000055 STANDARD BANK OF SOUTH AFRICA
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015 C010055 JOHANNESBURG
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015 D020055 2001
015 E040055 X
018 000000 Y
019 A000000 Y
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"020 A000001 GOLDMAN, SACHS & CO."
020 B000001 13-5108880
020 C000001 651
"020 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH INC."
020 B000002 13-5674085
020 C000002 582
020 A000003 S. G. WARBURG & CO. INC.
020 B000003 13-3340045
020 C000003 472
020 A000004 PEREGRINE BROKERAGE INC.
020 B000004 13-3580644
020 C000004 257
"020 A000005 SMITH NEW COURT, CARL MARKS INC."
020 B000005 13-3169769
020 C000005 197
020 A000006 UBS. PHILLIPS & DREW
020 B000006 13-2932996
020 C000006 196
020 A000007 SMITH BARNEY HARRIS UPHAM & CO. INC.
020 B000007 13-1912900
020 C000007 195
020 A000008 NATWEST SECURITIES CORP.
020 B000008 13-3312778
020 C000008 190
020 A000009 LEHMAN BROTHERS
020 B000009 13-2518466
020 C000009 181
"020 A000010 CREDIT LYONNAIS, LTD."
020 B000010 13-2602298
020 C000010 178
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<PAGE> PAGE 8
"022 A000001 THE CHASE MANHATTAN BANK, N.A."
022 B000001 13-2633612
022 C000001 4374251
022 D000001 1219011
"022 A000002 MERRILL LYNCH, PIERCE, FENNER, SMITH & CO."
022 B000002 13-5674085
022 C000002 151441
022 D000002 48529
022 A000003 FIRST BOSTON CORPORATION
022 B000003 13-5659485
022 C000003 106488
022 D000003 305
022 A000004 MORGAN STANLEY & CO. INC.
022 B000004 13-2655998
022 C000004 720
022 D000004 96926
022 A000005 DEUTCHE BANK
022 B000005 13-6124068
022 C000005 67353
022 D000005 0
022 A000006 SHEARSON AM EXPRESS
022 B000006 13-2518466
022 C000006 48930
022 D000006 0
"022 A000007 FOX-PITT, KELTON INC."
022 B000007 06-1058201
022 C000007 23807
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"022 A000008 DONALDSON, LUFKIN & JENRETTE SEC. CORP."
022 B000008 13-2741729
022 C000008 14144
022 D000008 0
022 A000009 S.G. WARBUG & CO. INC.
022 B000009 13-3340045
022 C000009 11957
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"022 A000010 ALEX BROWN & SONS, INC."
022 B000010 52-1319768
022 C000010 10983
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<PAGE> PAGE 9
025 A000003 BEAR STEARNS CO.
025 B000003 13-3299429
025 C000003 E
025 D000003 4771
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<PAGE> PAGE 10
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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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SIGNATURE JAMES R. BAIO
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE TEMPLETON
GROWTH FUND, INC. AUGUST 31, 1994 ANNUAL REPORT AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1994
<PERIOD-END> AUG-31-1994
<INVESTMENTS-AT-COST> 4416482655
<INVESTMENTS-AT-VALUE> 5582264364
<RECEIVABLES> 53173815
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5635438179
<PAYABLE-FOR-SECURITIES> 14059772
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9818027
<TOTAL-LIABILITIES> 23877799
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4019202854<F1>
<SHARES-COMMON-STOCK> 296189758
<SHARES-COMMON-PRIOR> 230953253
<ACCUMULATED-NII-CURRENT> 64446971
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 362128846<F1>
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1165781709
<NET-ASSETS> 5611560380
<DIVIDEND-INCOME> 99890519
<INTEREST-INCOME> 36361319
<OTHER-INCOME> 0
<EXPENSES-NET> 52500743
<NET-INVESTMENT-INCOME> 83751095
<REALIZED-GAINS-CURRENT> 421625512
<APPREC-INCREASE-CURRENT> 257341592
<NET-CHANGE-FROM-OPS> 762718199
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (65003617)
<DISTRIBUTIONS-OF-GAINS> (267596888)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 77882578
<NUMBER-OF-SHARES-REDEEMED> (29766676)
<SHARES-REINVESTED> 17120603
<NET-CHANGE-IN-ASSETS> 1577649033
<ACCUMULATED-NII-PRIOR> 45699493
<ACCUMULATED-GAINS-PRIOR> 209198291
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 29634284
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52500743
<AVERAGE-NET-ASSETS> 4751547342
<PER-SHARE-NAV-BEGIN> 17.47
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> 2.58
<PER-SHARE-DIVIDEND> (0.27)
<PER-SHARE-DISTRIBUTIONS> (1.12)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.95
<EXPENSE-RATIO> 1<F2>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>As a result of securities having differing book and tax bases, $1,098,069 has
been reclassified from accumulated net realized gain to net capital paid in on
shares of capital stock as of August 31, 1994.
<F2>The expense ratio per the Templeton Growth Fund, Inc Annual Report August 31,
1994 is 1.10%.
</FN>
</TABLE>
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
The Board of Directors and Shareholders
Templeton Growth Fund, Inc.
In planning and performing our audit of the financial statements of Templeton
Growth Fund, Inc. for the year ended August 31, 1994, we considered its internal
control structure, including procedures for 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 N-SAR, not
to provide assurance on the internal control structure.
The management of Templeton Growth Fund, Inc. is responsible for establishing
and maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of internal control structure policies
and procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any
evaluation of the structure 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 structure would not necessarily
disclose all matters in the internal control structure 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 structure, including procedures for safe-
guarding securities, that we consider to be material weaknesses as defined
above as of August 31, 1994.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
McGladrey & Pullen
New York, New York
September 27, 1994
