<PAGE> PAGE 1
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000 C000000 0000843287
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012 B000001 84-0000
012 C010001 BOSTON
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012 C030001 02109
013 A000001 COOPERS & LYBRAND L.L.P.
<PAGE> PAGE 2
013 B010001 SAN FRANCISCO
013 B020001 CA
013 B030001 94105
013 B040001 2119
015 A000001 BANK OF AMERICA NT&SA
015 B000001 C
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015 E040002 X
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015 B000003 S
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015 D010003 AUSTRALIA
015 E040003 X
015 A000004 CREDITANSTALT-BANKVEREIN
015 B000004 S
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015 D010004 AUSTRIA
015 E040004 X
015 A000005 BARCLAYS BANK PLC VIA STANDARD CHARTERED BANK
015 B000005 S
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015 D010005 BANGLADESH
015 E040005 X
015 A000006 BANQUE BRUSSELS LAMBERT SA
015 B000006 S
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015 E040006 X
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015 E040007 X
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015 A000009 THE CANADA TRUST COMPANY
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<PAGE> PAGE 3
015 A000010 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000010 S
015 C010010 SHANGHAI
015 D010010 CHINA
015 E040010 X
015 A000011 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000011 S
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015 D010011 CHINA
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015 A000012 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
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015 C010012 BOGOTA
015 D010012 COLOMBIA
015 E040012 X
015 A000013 UNIBANK
015 B000013 S
015 C010013 COPENHAGEN
015 D010013 DENMARK
015 E040013 X
015 A000014 KANSALLIS-OSAKE -PANKKI
015 B000014 S
015 C010014 HELSINKI
015 D010014 FINLAND
015 E040014 X
015 A000015 SOCIETE GENERALE
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015 C010015 PARIS
015 D010015 FRANCE
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015 A000016 BANK OF AMERICA FOREIGN DIVISION - FRANKFURT
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015 D010016 GERMANY
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015 A000017 BERLINER HANDELS-UND FRANKFURTER BANK
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015 E040017 X
015 A000018 BARCLAYS BANK PLC
015 B000018 S
015 C010018 ATHENS
015 D010018 GREECE
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015 A000019 BARCLAYS BANK PLC
015 B000019 S
015 C010019 HONG KONG
015 D010019 HONG KONG
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015 A000020 CITIBANK, N.A.
<PAGE> PAGE 4
015 B000020 S
015 C010020 BUDAPEST
015 D010020 HUNGARY
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015 A000021 BARCLAYS BANK PLC VIA STANDARD CHATERED BANK
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015 A000022 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000022 S
015 C010022 JAKARTA
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015 A000023 BANK OF IRELAND
015 B000023 S
015 C010023 DUBLIN
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015 A000024 BANK LEUMI LE-ISRAEL, B.M.
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015 B000025 S
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015 A000027 CEDEL S.A.
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015 D010027 LUXEMBOURG
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015 D010029 MEXICO
015 E040029 X
015 A000030 KAS-ASSOCIATIE N.V.
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<PAGE> PAGE 5
015 C010030 ARMSTERDAM
015 D010030 NETHERLANDS
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015 A000031 ANZ BANKING GROUP LIMITED
015 B000031 S
015 C010031 WELLINGTON
015 D010031 NEW ZEALAND
015 E040031 X
015 A000032 CHRISTIANIA BANK OG KREDITKASSE
015 B000032 S
015 C010032 BERGEN
015 D010032 NORWAY
015 E040032 X
015 A000033 STANDARD CHARTERED BANK
015 B000033 S
015 C010033 KARACHI
015 D010033 PAKISTAN
015 E040033 X
015 A000034 BANCO DE CREDITO DEL PERU
015 B000034 S
015 C010034 LIMA
015 D010034 PERU
015 E040034 X
015 A000035 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000035 S
015 C010035 MANILA
015 D010035 PHILIPPINES
015 E040035 X
015 A000036 CITIBANK, N.A.
015 B000036 S
015 C010036 WARSAW
015 D010036 POLAND
015 E040036 X
015 A000037 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B000037 S
015 C010037 LISBON
015 D010037 PORTUGAL
015 E040037 X
015 A000038 BARCLAYS BANK PLC
015 B000038 S
015 C010038 SINGAPORE
015 D010038 SINGAPORE
015 E040038 X
015 A000039 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000039 S
015 C010039 JOHANNESBURG
015 D010039 SOUTH AFRICA
015 E040039 X
015 A000040 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000040 S
015 C010040 SEOUL
<PAGE> PAGE 6
015 D010040 SOUTH KOREA
015 E040040 X
015 A000041 BANCO DE SANTANDER
015 B000041 S
015 C010041 MADRID
015 D010041 SPAIN
015 E040041 X
015 A000042 THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000042 S
015 C010042 COLOMBO
015 D010042 SRI LANKA
015 E040042 X
015 A000043 SKANDINAVISKA ENSKILDA BANKEN
015 B000043 S
015 C010043 STOCKHOLM
015 D010043 SWEDEN
015 E040043 X
015 A000044 SWISS BANK CORPORATION
015 B000044 S
015 C010044 ZURICH
015 D010044 SWITZERLAND
015 E040044 X
015 A000045 HONGKONG AND SHANGHAI BANKING CORP., LTD.
015 B000045 S
015 C010045 TAIPEI
015 D010045 TAIWAN
015 E040045 X
015 A000046 BANGKOK BANK LTD.
015 B000046 S
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015 D010046 THAILAND
015 E040046 X
015 A000047 YAPI VE KREDI BANKASI A.S.
015 B000047 S
015 C010047 ISTANBUL
015 D010047 TURKEY
015 E040047 X
015 A000048 THE BANK OF NEW YORK
015 B000048 S
015 C010048 LONDON
015 D010048 UNITED KINGDOM
015 E040048 X
015 A000049 CITIBANK, N.A.
015 B000049 S
015 C010049 CARACAS
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018 000000 Y
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<PAGE> PAGE 7
020 A000001 SMITH BARNEY SHEARSON
020 B000001 13-1912900
020 C000001 58
020 A000002 LIBRA INVESTMENTS INC
020 B000002 95-4326949
020 C000002 13
020 A000003 SEIDLER AMDEC SECURITIES INC
020 B000003 95-2581813
020 C000003 5
020 A000004 JANNEY MONTGOMERY SCOTT INC
020 B000004 23-0731260
020 C000004 5
020 A000005 DABNEY-RESNICK
020 B000005 95-4221398
020 C000005 3
020 A000006 FIRST BOSTON CORP
020 B000006 13-5659485
020 C000006 2
020 A000007 BEAR, STEARNS & CO INC
020 B000007 13-3299429
020 C000007 1
020 A000008 INSTINET CORP
020 B000008 13-3443395
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 87
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022 B000003 13-3187336
022 C000003 71168
022 D000003 1410
022 A000004 SMITH BARNEY SHEARSON
022 B000004 13-1912900
022 C000004 49271
022 D000004 8134
022 A000005 CHASE MANHATTAN BANK
022 B000005 13-2633612
022 C000005 42348
022 D000005 0
022 A000006 SBCI SWISS BANK CORP
022 B000006 13-2639550
022 C000006 33077
022 D000006 0
<PAGE> PAGE 8
022 A000007 FUJI SECURITIES
022 B000007 13-3038090
022 C000007 28587
022 D000007 0
022 A000008 SANWA-BGK SEC CO LP.
022 B000008 13-3154528
022 C000008 15847
022 D000008 0
022 A000009 JEFFERIES & CO INC
022 B000009 95-2622900
022 C000009 7818
022 D000009 6755
022 A000010 GREENWICH CAPITAL
022 B000010 13-3122275
022 C000010 7698
022 D000010 4686
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<PAGE> PAGE 9
028 D030000 0
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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070 J010000 Y
070 J020000 Y
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<PAGE> PAGE 12
072 O000000 0
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074 C000000 2250
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<PAGE> PAGE 13
074 X000000 2979
074 Y000000 7890
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077 A000000 Y
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080 A000000 ICI MUTUAL INSURANCE COMPANY
080 B000000 NONE
080 C000000 130000
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SIGNATURE DIOMEDES LOO-TAM
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FRANKLIN
PRINCIPAL MATURITY TRUST NOVEMBER 30, 1995 ANNUAL REPORT AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1995
<PERIOD-END> NOV-30-1995
<INVESTMENTS-AT-COST> 250,469,738
<INVESTMENTS-AT-VALUE> 243,118,254
<RECEIVABLES> 4,653,473
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 247,771,727
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 72,966,698
<TOTAL-LIABILITIES> 72,966,698
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 185,357,844
<SHARES-COMMON-STOCK> 20,462,600
<SHARES-COMMON-PRIOR> 20,462,600
<ACCUMULATED-NII-CURRENT> 533,928
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,734,945)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (7,351,798)
<NET-ASSETS> 174,805,029
<DIVIDEND-INCOME> 403,635
<INTEREST-INCOME> 15,587,852
<OTHER-INCOME> 0
<EXPENSES-NET> (5,527,166)
<NET-INVESTMENT-INCOME> 10,464,321
<REALIZED-GAINS-CURRENT> (3,339,040)
<APPREC-INCREASE-CURRENT> 22,265,305
<NET-CHANGE-FROM-OPS> 29,390,586
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12,093,398)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 17,297,188
<ACCUMULATED-NII-PRIOR> 2,090,458
<ACCUMULATED-GAINS-PRIOR> (323,358)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 999,478
<INTEREST-EXPENSE> 4,228,649
<GROSS-EXPENSE> 5,527,166
<AVERAGE-NET-ASSETS> 166,514,291
<PER-SHARE-NAV-BEGIN> 7.700
<PER-SHARE-NII> .520
<PER-SHARE-GAIN-APPREC> .911
<PER-SHARE-DIVIDEND> (.591)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.540
<EXPENSE-RATIO> 3.320
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
REPORT OF INDEPENDENT AUDITORS
To the Shareholders and Board of Trustees
Franklin Franklin Principal Maturity Trust:
In planning and performing our audit of the financial
statements and financial highlights of the Franklin
Principal Maturity Trust for the year ended November 30,
1995, 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
financial highlights and to comply with the requirements of
Form N-SAR, not to provide assurance on the internal control
structure.
The management of the Franklin Principal Maturity Trust is
responsible for establishing and maintaining an internal
control structure. In fulfilling this responsibility,
estimates and judgment 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 amounts that
would be material in relation to the financial statements
and financial highlights 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
November 30, 1995.
This report is intended solely for the information and use
of management of the Franklin Principal Maturity Trust and
the Securities and Exchange Commission.
S\COOPERS & LYBRAND L.L.P.
Coopers & Lybrand L.L.P.
San Francisco, California
January 2, 1996
