FRANKLIN TAX ADVANTAGED HIGH YIELD SECURITIES FUND, 497J, 1997-05-05

FRANKLIN TAX ADVANTAGED HIGH YIELD SECURITIES FUND
497J, 1997-05-05

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                            Franklin Templeton Group
                          777 Mariners Island Boulevard
                           San Mateo, California 94404


May 5, 1997


Filed Via EDGAR (CIK #0000810303)
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549-1004

      Re:  FRANKLIN TAX-ADVANTAGED HIGH YIELD SECURITIES FUND
           (File Nos. 033-11962 & 811-5008)

Ladies/Gentlemen:

Pursuant to Rule 497(j) under the Securities Act of 1933, this is to certify
that the forms of Prospectus and Statement of Additional Information that
would have been filed under Rule 497(c) do not differ from those contained in
Post-Effective Amendment No. 10 to the Registration Statement on Form N-1A, 
which was filed electronically with the Securities and Exchange Commission on 
April 30, 1997.

Sincerely,

Franklin Tax-Advantaged High Yield Securities Fund


/s/ Larry L. Greene
Senior Corporate Counsel

LLG:vs