<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
INVESTORS SECURITIES TRUST OCTOBER 31, 2000 ANNUAL REPORT AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 042
<NAME> FRANKLIN EQUITY INCOME FUND - CLASS B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 344,858,355
<INVESTMENTS-AT-VALUE> 420,945,968
<RECEIVABLES> 3,541,713
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 424,487,681
<PAYABLE-FOR-SECURITIES> 237,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,683,970
<TOTAL-LIABILITIES> 1,920,970
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 337,604,972
<SHARES-COMMON-STOCK> 228,155
<SHARES-COMMON-PRIOR> 130,099
<ACCUMULATED-NII-CURRENT> 385,927
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8,488,200
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 76,087,613
<NET-ASSETS> 422,566,711
<DIVIDEND-INCOME> 14,036,605
<INTEREST-INCOME> 2,156,906
<OTHER-INCOME> 0
<EXPENSES-NET> (4,762,682)
<NET-INVESTMENT-INCOME> 11,430,829
<REALIZED-GAINS-CURRENT> 9,149,345
<APPREC-INCREASE-CURRENT> 29,128,699
<NET-CHANGE-FROM-OPS> 49,708,873
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (65,751)
<DISTRIBUTIONS-OF-GAINS> (173,233)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 149,977
<NUMBER-OF-SHARES-REDEEMED> (64,499)
<SHARES-REINVESTED> 12,578
<NET-CHANGE-IN-ASSETS> (48,247,113)
<ACCUMULATED-NII-PRIOR> 42,323
<ACCUMULATED-GAINS-PRIOR> 30,229,420
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,070,294)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (4,762,682)
<AVERAGE-NET-ASSETS> 406,918,042
<PER-SHARE-NAV-BEGIN> 19.160
<PER-SHARE-NII> .390<F1>
<PER-SHARE-GAIN-APPREC> 1.880
<PER-SHARE-DIVIDEND> (.390)
<PER-SHARE-DISTRIBUTIONS> (1.280)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 19.760
<EXPENSE-RATIO> 1.780
<FN>
<F1>BASED ON AVERAGE SHARES OUTSTANDING.
</FN>
</TABLE>
