<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> 031
<NAME> FRANKLIN ADJUSTABLE U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 252,106,283
<INVESTMENTS-AT-VALUE> 232,958,393
<RECEIVABLES> 1,067,659
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 234,026,052
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,613,469
<TOTAL-LIABILITIES> 1,613,469
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 339,979,262
<SHARES-COMMON-STOCK> 24,985,063
<SHARES-COMMON-PRIOR> 30,388,597
<ACCUMULATED-NII-CURRENT> 933,441
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (89,352,230)
<ACCUM-APPREC-OR-DEPREC> (19,147,890)
<NET-ASSETS> 232,412,583
<DIVIDEND-INCOME> 15,071,636
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> (1,453,383)
<NET-INVESTMENT-INCOME> 13,618,253
<REALIZED-GAINS-CURRENT> (2,737,933)
<APPREC-INCREASE-CURRENT> 2,365,317
<NET-CHANGE-FROM-OPS> 13,245,637
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (13,416,415)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,193,146
<NUMBER-OF-SHARES-REDEEMED> (21,485,637)
<SHARES-REINVESTED> 888,957
<NET-CHANGE-IN-ASSETS> (50,272,248)
<ACCUMULATED-NII-PRIOR> 731,603
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (88,539,911)
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,453,383)
<AVERAGE-NET-ASSETS> 253,117,705
<PER-SHARE-NAV-BEGIN> 9.300
<PER-SHARE-NII> .500<F1>
<PER-SHARE-GAIN-APPREC> (.010)
<PER-SHARE-DIVIDEND> (.490)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 9.30
<EXPENSE-RATIO> 1.000<F2>
<FN>
<F1>BASED ON AVERAGE SHARES OUTSTANDING.
<F2>INCLUDES THE FUND'S SHARE OF THE U.S. GOVERNMENT ADJUSTABLE RATE MORTGAGE
PORTFOLIO'S ALLOCATED EXPENSES.
</FN>
</TABLE>
