<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
INVESTORS SECURITIES TRUST APRIL 30, 2000 SEMI-ANNUAL REPORT AND IS QUALIFIED I
N ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 042
<NAME> FRANKLIN EQUITY INCOME FUND - CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 357,371,980
<INVESTMENTS-AT-VALUE> 394,243,588
<RECEIVABLES> 4,374,773
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 398,618,361
<PAYABLE-FOR-SECURITIES> 2,831,384
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,536,777
<TOTAL-LIABILITIES> 4,368,161
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 353,744,534
<SHARES-COMMON-STOCK> 163,075
<SHARES-COMMON-PRIOR> 130,099
<ACCUMULATED-NII-CURRENT> 319,035
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,315,023
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36,871,608
<NET-ASSETS> 394,250,200
<DIVIDEND-INCOME> 7,563,252
<INTEREST-INCOME> 837,958
<OTHER-INCOME> 0
<EXPENSES-NET> (2,375,212)
<NET-INVESTMENT-INCOME> 6,025,998
<REALIZED-GAINS-CURRENT> 3,973,058
<APPREC-INCREASE-CURRENT> (10,087,306)
<NET-CHANGE-FROM-OPS> (88,250)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (27,724)
<DISTRIBUTIONS-OF-GAINS> (173,233)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 65,529
<NUMBER-OF-SHARES-REDEEMED> (43,290)
<SHARES-REINVESTED> 10,737
<NET-CHANGE-IN-ASSETS> (76,563,624)
<ACCUMULATED-NII-PRIOR> 42,323
<ACCUMULATED-GAINS-PRIOR> 30,229,420
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,047,113)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (2,375,212)
<AVERAGE-NET-ASSETS> 415,881,943
<PER-SHARE-NAV-BEGIN> 19.160
<PER-SHARE-NII> .200<F2>
<PER-SHARE-GAIN-APPREC> (.190)
<PER-SHARE-DIVIDEND> (.190)
<PER-SHARE-DISTRIBUTIONS> (1.280)
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 17.700
<EXPENSE-RATIO> 1.760<F1>
<FN>
<F1>ANNUALIZED
<F2>BASED ON AVERAGE SHARES OUTSTANDING
</FN>
</TABLE>
