<PAGE> PAGE 1
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"001 A000000 TEMPLETON AMERICAN TRUST, INC."
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
015 E040002 X
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<PAGE> PAGE 5
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<PAGE> PAGE 6
"015 A000021 CHASE MANHATTAN BANK, N.A."
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<PAGE> PAGE 7
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<PAGE> PAGE 8
015 C010039 DHAKA
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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SIGNATURE JAMES R. BAIO
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON AMERICAN TRUST, INC. DECEMBER 31, 1994 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000869404
<NAME> AMERICAN TRUST, INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 34674415
<INVESTMENTS-AT-VALUE> 37645794
<RECEIVABLES> 560870
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 4386
<TOTAL-ASSETS> 38211050
<PAYABLE-FOR-SECURITIES> 46653
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 205031
<TOTAL-LIABILITIES> 251684
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 34913360
<SHARES-COMMON-STOCK> 3038787
<SHARES-COMMON-PRIOR> 2570360
<ACCUMULATED-NII-CURRENT> 5267<F1>
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 69360<F1>
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2971379
<NET-ASSETS> 37959366
<DIVIDEND-INCOME> 663714
<INTEREST-INCOME> 364423
<OTHER-INCOME> 0
<EXPENSES-NET> 903213
<NET-INVESTMENT-INCOME> 124924
<REALIZED-GAINS-CURRENT> 2849815
<APPREC-INCREASE-CURRENT> (2458034)
<NET-CHANGE-FROM-OPS> 516705
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (137730)
<DISTRIBUTIONS-OF-GAINS> (2952688)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 492348
<NUMBER-OF-SHARES-REDEEMED> (236481)
<SHARES-REINVESTED> 212560
<NET-CHANGE-IN-ASSETS> 3540937
<ACCUMULATED-NII-PRIOR> 23793
<ACCUMULATED-GAINS-PRIOR> 166513
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 255905
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 903213
<AVERAGE-NET-ASSETS> 36559485
<PER-SHARE-NAV-BEGIN> 13.39
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> .17
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> (1.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.49
<EXPENSE-RATIO> 2.47
<AVG-DEBT-OUTSTANDING> 0
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<FN>
<F1> As a result of differing book and tax treatments for foreign currency
transactions, the Fund reclassified $5,720 from net investment income to
realized gain/loss on investments as of December 31, 1994.
</TABLE>
REPORT OF CERTIFIED PUBLIC ACCOUNTANTS
The Board of Directors and Shareholders
Templeton American Trust, Inc.
In planning and performing our audit of the financial statements of Templeton
American Trust, Inc. for the year ended December 31, 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 structure.
The management of Templeton American Trust, Inc. is responsible for
establishing and maintaining an internal control structure. In fulfilling
this responsibility, estimates and judgments 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 manage-
ment'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 dis-
close 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 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 de-
fined above as of December 31, 1994.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
/s/MCGLADREY & PULLEN , LLP
McGladrey & Pullen, LLP
New York, New York
February 3, 1995
