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<PAGE> PAGE 2
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SIGNATURE KENNETH V. DOMINGUES
TITLE VICE PRES. CAO&CFO
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000821600
<NAME> HAMPTON UTILITIES TRUST
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> AUG-05-1994
<PERIOD-START> JAN-01-1994
<PERIOD-END> AUG-05-1994
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<OTHER-INCOME> 0
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<REALIZED-GAINS-CURRENT> 1,781,626
<APPREC-INCREASE-CURRENT> (3,293,459)
<NET-CHANGE-FROM-OPS> (1,095,089)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (374,864)
<DISTRIBUTIONS-OF-GAINS> (1,897,763)
<DISTRIBUTIONS-OTHER> 0
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<NUMBER-OF-SHARES-REDEEMED> (1,232,784)<F1>
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (13,520,790)
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<ACCUMULATED-GAINS-PRIOR> 118,649
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (86,771)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (177,165)
<AVERAGE-NET-ASSETS> 17,655,220
<PER-SHARE-NAV-BEGIN> 15.81
<PER-SHARE-NII> .402
<PER-SHARE-GAIN-APPREC> (1.478)
<PER-SHARE-DIVIDEND> (.391)
<PER-SHARE-DISTRIBUTIONS> (1.837)
<RETURNS-OF-CAPITAL> (.114)
<PER-SHARE-NAV-END> 12.39
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Total number of shares includes 200,100 Preferred shares redeemed in March
1994.
</FN>
</TABLE>
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
ON INTERNAL CONTROL STRUCTURE
Board of Trustees
Hampton Utilities Trust
San Mateo, California
In planning and performing our audit of the financial statements
of Hampton Utilities Trust, for the period ended August 5, 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 structures.
The management of the trust is responsible for establishing and
maintaining an internal control structure. In fulfilling this
responsibility, estimates and judgements 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
amount 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 safeguarding
securities, that we consider to be material weaknesses, as defined
above, as of August 5, 1994.
This report is intended solely for the information and use of
management and the Securities and Exchange Commission, and should
not be used for any other purpose.
S\Tait Weller & Baker
Philadelphia, Pennsylvania
October 28, 1994
NSAR/001-77C.12b October 3, 1994
NAME OF REGISTRANT: Hampton Utilities Trust
File No. 811-5331
EXHIBIT ITEM No. 77C:
Submission of matters to a vote of security holders.
At a special meeting of shareholders of the registrant held on
July 14, 1994 the following items were voted upon:
(1) To approve an Agreement and Plan of Reorganization between
the registrant and Franklin Custodian Funds, Inc. (Custodian
Funds) on behalf of the Utilities series (Utilities Series)
that provides for the acquisition of substantially all of the
assets of the registrant in exchange for shares of the Utilities
Series of Custodian Funds, the distribution of such shares to the
shareholders of the registrant, and the dissolution of the
registrant.
Vote For Vote Against
400,666 41,940
(2) To approve the conversion of the registrant to an open-end
investment company.
Vote For Vote Against
58,803 206,550
(3) Election of trustees.
For Withhold Authority
1. William J. Lippman 529,515 1,208
2. Frank T. Crohn 529,515 1,208
3. Charles Rubens, II 529,515 1,208
4. Leonard Rubin 529,515 1,208
(4) Ratification of the selection of Tait, Weller & Baker,
Certified Public Accountants, as the independent auditors for the
Fund for the fiscal year ending December 31, 1994.
Vote For Vote Against
523,348 14,415
