<PAGE> PAGE 1
000 A000000 06/30/96
000 C000000 869404
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 TEMPLETON AMERICAN TRUST, INC.
001 B000000 811-6204
001 C000000 3055277591
002 A000000 500 EAST BROWARD BLVD. SUITE 2100
002 B000000 FT. LAUDERDALE
002 C000000 FL
002 D010000 33394
002 D020000 3091
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A000001 TEMPLETON INVESTMENT COUNSEL, INC.
008 B000001 A
008 C000001 801-15125
008 D010001 FT. LAUDERDALE
008 D020001 FL
008 D030001 33394
008 D040001 3091
010 A000001 TEMPLETON GLOBAL INVESTORS, INC.
<PAGE> PAGE 2
010 B000001 8-00000
010 C010001 FT LAUDERDALE
010 C020001 FL
010 C030001 33394
010 C040001 3091
011 A000001 FRANKLIN TEMPLETON DISTRIBUTORS, INC.
011 B000001 8-00000
011 C010001 ST. PETERSBURG
011 C020001 FL
011 C030001 33701
011 C040001 3628
012 A000001 FRANKLIN TEMPLETON INVESTOR SERVICES, INC.
012 B000001 84-00000
012 C010001 ST. PETERSBURG
012 C020001 FL
012 C030001 33701
012 C040001 3628
013 A000001 MCGLADREY & PULLEN, LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
013 B040001 2416
015 A000001 THE CHASE MANHATTAN BANK N.A.
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10081
015 E010001 X
015 A000002 THE CHASE MANHATTAN BANK
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 D020002 1061
015 E040002 X
015 A000003 CHASE MANHATTAN BANK AUSTRALIA LIMITED
015 B000003 S
015 C010003 SYDNEY
015 D010003 AUSTRALIA
015 D020003 2000
015 E040003 X
015 A000004 CREDITANSTALT - BANKVEREIN
015 B000004 S
015 C010004 VIENNA
015 D010004 AUSTRIA
015 D020004 A-1011
015 E040004 X
015 A000005 GENERALE BANK
015 B000005 S
015 C010005 BRUXELLES
015 D010005 BELGIUM
015 D020005 1000
<PAGE> PAGE 3
015 E040005 X
015 A000006 CESKOSLOVENSKA OBCHODNI BANKA
015 B000006 S
015 C010006 PRAHA
015 D010006 CZECH REPUBLIC
015 E040006 X
015 A000007 THE ROYAL BANK OF CANADA
015 B000007 S
015 C010007 TORONTO
015 D010007 CANADA
015 D020007 M5J-2J5
015 E040007 X
015 A000008 CANADA TRUST
015 B000008 S
015 C010008 TORONTO
015 D010008 CANADA
015 D020008 M5J-2T2
015 E040008 X
015 A000009 DEN DANSKE BANK
015 B000009 S
015 C010009 COPENHAGEN
015 D010009 DENMARK
015 E040009 X
015 A000010 THE CHASE MANHATTAN BANK
015 B000010 S
015 C010010 LONDON
015 D010010 UNITED KINGDOM
015 D020010 EC2P 2HD
015 E040010 X
015 A000011 MERITA BANK KOP
015 B000011 S
015 C010011 HELSINKI
015 D010011 FINLAND
015 D020011 00500
015 E040011 X
015 A000012 BANQUE PARIBAS
015 B000012 S
015 C010012 PARIS
015 D010012 FRANCE
015 D020012 75078
015 E040012 X
015 A000013 CHASE BANK, A.G.
015 B000013 S
015 C010013 FRANKFURT
015 D010013 GERMANY
015 D020013 60441
015 E040013 X
015 A000014 NATIONAL BANK OF EGYPT
015 B000014 S
015 C010014 CAIRO
015 D010014 EGYPT
<PAGE> PAGE 4
015 E040014 X
015 A000015 BARCLAYS BANK PLC
015 B000015 S
015 C010015 ATHENS
015 D010015 GREECE
015 D020015 10562
015 E040015 X
015 A000016 THE CHASE MANHATTAN BANK
015 B000016 S
015 C010016 CENTRAL HONG KONG
015 D010016 HONG KONG
015 E040016 X
015 A000017 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B000017 S
015 C010017 JAKARTA
015 D010017 INDONESIA
015 D020017 10023
015 E040017 X
015 A000018 BANK OF IRELAND
015 B000018 S
015 C010018 DUBLIN
015 D010018 IRELAND
015 E040018 X
015 A000019 THE CHASE MANHATTAN BANK
015 B000019 S
015 C010019 MILAN
015 D010019 ITALY
015 D020019 20121
015 E040019 X
015 A000020 THE CHASE MANHATTAN BANK
015 B000020 S
015 C010020 TOKYO
015 D010020 JAPAN
015 D020020 100
015 E040020 X
015 A000021 THE CHASE MANHATTAN BANK
015 B000021 S
015 C010021 KUALA LUMPUR
015 D010021 MALAYSIA
015 D020021 50250
015 E040021 X
015 A000022 THE CHASE MANHATTAN BANK
015 B000022 S
015 C010022 MEXICO D.F.
015 D010022 MEXICO
015 D020022 11000
015 E040022 X
015 A000023 ABN-AMRO N.V.
015 B000023 S
015 C010023 DE BREDA
015 D010023 NETHERLANDS
<PAGE> PAGE 5
015 D020023 4800
015 E040023 X
015 A000024 NATIONAL NOMINEES LIMITED
015 B000024 S
015 C010024 AUCKLAND
015 D010024 NEW ZEALAND
015 E040024 X
015 A000025 DEN NORSKE BANK
015 B000025 S
015 C010025 OSLO
015 D010025 NORWAY
015 D020025 1
015 E040025 X
015 A000026 HONGKONG & SHANGHAI BANKING CORP LTD
015 B000026 S
015 C010026 MANILA
015 D010026 PHILIPPINES
015 E040026 X
015 A000027 BANCO ESPIRITO SANTO & COMERCIAL DE LISBOA
015 B000027 S
015 C010027 LISBON
015 D010027 PORTUGAL
015 D020027 1200
015 E040027 X
015 A000028 THE CHASE MANHATTAN BANK
015 B000028 S
015 C010028 SINGAPORE
015 D010028 SINGAPORE
015 D020028 0104
015 E040028 X
015 A000029 THE CHASE MANHATTAN BANK
015 B000029 S
015 C010029 MADRID
015 D010029 SPAIN
015 D020029 28042
015 E040029 X
015 A000030 HONGKONG & SHANGHAI BANKING CORP LTD
015 B000030 S
015 C010030 CUREPIPE
015 D010030 MAURITIUS
015 E040030 X
015 A000031 HONGKONG & SHANGHAI BANKING CORP LTD
015 B000031 S
015 C010031 COLOMBO
015 D010031 SRI LANKA
015 D020031 1
015 E040031 X
015 A000032 SKANDINAVISKA ENSKILDA BANKEN
015 B000032 S
015 C010032 STOCKHOLM
015 D010032 SWEDEN
<PAGE> PAGE 6
015 D020032 S-106 40
015 E040032 X
015 A000033 UNION BANK OF SWITZERLAND
015 B000033 S
015 C010033 ZURICH
015 D010033 SWITZERLAND
015 D020033 8021
015 E040033 X
015 A000034 THE CHASE MANHATTAN BANK
015 B000034 S
015 C010034 BANGKOK
015 D010034 THAILAND
015 D020034 10500
015 E040034 X
015 A000035 BANQUE COMMERCIALE DU MAROC
015 B000035 S
015 C010035 CASABLANCA
015 D010035 MOROCCO
015 D020035 20000
015 E040035 X
015 A000036 FIRST CHICAGO CLEARING CENTRE
015 B000036 S
015 C010036 LONDON
015 D010036 UNITED KINGDOM
015 D020036 EC3A 1AA
015 E040036 X
015 A000037 AUSTRACLEAR RESERVE BANK
015 B000037 S
015 C010037 SYDNEY
015 D010037 AUSTRALIA
015 E040037 X
015 A000038 STANDARD CHARTERED BANK
015 B000038 S
015 C010038 DHAKA
015 D010038 BANGLADESH
015 D020038 1000
015 E040038 X
015 A000039 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B000039 S
015 C010039 SHANGHAI
015 D010039 CHINA
015 E040039 X
015 A000040 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B000040 S
015 C010040 SHENZHEN
015 D010040 CHINA
015 E040040 X
015 A000041 STANDARD BANK OF SOUTH AFRICA
015 B000041 S
015 C010041 JOHANNESBURG
015 D010041 SOUTH AFRICA
<PAGE> PAGE 7
015 D020041 2001
015 E040041 X
015 A000042 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B000042 S
015 C010042 SEOUL
015 D010042 SOUTH KOREA
015 E040042 X
015 A000043 THE CHASE MANHATTAN BANK
015 B000043 S
015 C010043 ISTANBUL
015 D010043 TURKEY
015 E040043 X
015 A000044 THE FIRST NATIONAL BANK OF BOSTON
015 B000044 S
015 C010044 MONTEVIDEO
015 D010044 URUGUAY
015 E040044 X
015 A000045 BANK LEUMI LE-ISRAEL B.M.
015 B000045 S
015 C010045 TEL AVIV
015 D010045 ISRAEL
015 D020045 65136
015 E040045 X
015 A000046 BARCLAYS BANK OF ZIMBABWE
015 B000046 S
015 C010046 HARARE
015 D010046 ZIMBABWE
015 E040046 X
015 A000047 BANCO CHASE MANHATTAN, S.A.
015 B000047 S
015 C010047 SAO PAULO
015 D010047 BRAZIL
015 D020047 SP 04719-002
015 E040047 X
015 A000048 BANK HANDLOWY W. WARSAWIE, S.A.
015 B000048 S
015 C010048 WARSAW
015 D010048 POLAND
015 D020048 00-920
015 E040048 X
015 A000049 CITIBANK BUDAPEST RT.
015 B000049 S
015 C010049 BUDAPEST V
015 D010049 HUNGARY
015 D020049 1052
015 E040049 X
015 A000050 BARCLAYS BANK OF GHANA
015 B000050 S
015 C010050 ACCRA
015 D010050 GHANA
015 E040050 X
<PAGE> PAGE 8
015 A000051 CITIBANK, N.A.
015 B000051 S
015 C010051 LIMA
015 D010051 PERU
015 D020051 27
015 E040051 X
015 A000052 CESKOSLOVENSKA OBCHODNI BANKA, S.A. (CSOB)
015 B000052 S
015 C010052 BRATISLAVA
015 D010052 SLOVAK REPUBLIC
015 D020052 815 63
015 E040052 X
015 A000053 CEDEL S.A.
015 B000053 S
015 C010053 LUXEMBOURG
015 D010053 LUXEMBOURG
015 E040053 X
015 A000054 BARCLAYS BANK OF ZAMBIA
015 B000054 S
015 C010054 LUSAKA
015 D010054 ZAMBIA
015 D020054 31936
015 E040054 X
015 A000055 BARCLAYS BANK OF BOTSWANA
015 B000055 S
015 C010055 GABORONE
015 D010055 BOTSWANA
015 E040055 X
015 A000056 BARCLAYS BANK OF KENYA
015 B000056 S
015 C010056 NAIROBI
015 D010056 KENYA
015 E040056 X
018 000000 Y
019 A000000 Y
019 B000000 191
019 C000000 FRNKTEMGRP
020 A000001 LEHMAN BROTHERS
020 B000001 13-2518466
020 C000001 2
020 A000002 C.J.LAWRENCE
020 B000002 13-2730828
020 C000002 1
020 A000003 PRU-BACHE SEC.,INC.
020 B000003 22-2347336
020 C000003 1
020 A000004 FURMAN SELZ MAGER DIETZ & BIRNEY INC.
020 B000004 13-2753731
020 C000004 1
020 A000005 DONALDSON LUFKIN & JENRETTE SEC CORP
020 B000005 13-2741729
<PAGE> PAGE 9
020 C000005 1
020 A000006 MONTGOMERY SECURITIES
020 B000006 94-1701676
020 C000006 1
020 A000007 FLEMING, MARTIN
020 B000007 13-3724403
020 C000007 1
020 A000008 MORGAN STANLEY & COMPANY INC.
020 B000008 13-2655998
020 C000008 1
020 A000009 NATWEST SECURITIES
020 B000009 13-3312778
020 C000009 1
020 A000010 SANFORD BERNSTEIN
020 B000010 13-2625874
020 C000010 0
021 000000 10
022 A000001 CHASE MANHATTAN BANK
022 B000001 13-2633612
022 C000001 43726
022 D000001 6414
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002 0
022 D000002 917
022 A000003 SANFORD BERNSTEIN
022 B000003 13-2625874
022 C000003 0
022 D000003 760
022 A000004 C.J.LAWRENCE
022 B000004 13-2730828
022 C000004 0
022 D000004 750
022 A000005 PRU-BACHE SEC., INC
022 B000005 22-2347336
022 C000005 0
022 D000005 740
022 A000006 MARTIN FLEMING
022 B000006 13-3724403
022 C000006 0
022 D000006 727
022 A000007 MONTGOMERY SECURITIES
022 B000007 94-1701676
022 C000007 0
022 D000007 627
022 A000008 DONALDSON LUFKIN & JENRETTE SECURITIES CORP
022 B000008 13-2741729
022 C000008 0
022 D000008 613
022 A000009 MORGAN STANLEY & CO. INC.
022 B000009 13-2655998
<PAGE> PAGE 10
022 C000009 0
022 D000009 372
022 A000010 FURMAN SELZ MAGER DIETZ & BIRNEY INC.
022 B000010 13-2753731
022 C000010 0
022 D000010 350
023 C000000 43726
023 D000000 12270
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
028 A010000 437
028 A020000 0
028 A030000 0
028 A040000 716
028 B010000 397
028 B020000 0
028 B030000 0
028 B040000 689
028 C010000 422
028 C020000 0
028 C030000 0
028 C040000 1217
028 D010000 528
028 D020000 0
028 D030000 0
028 D040000 1835
028 E010000 384
028 E020000 0
028 E030000 0
028 E040000 979
028 F010000 254
028 F020000 0
028 F030000 0
028 F040000 1085
<PAGE> PAGE 11
028 G010000 2422
028 G020000 0
028 G030000 0
028 G040000 6521
028 H000000 1846
029 000000 Y
030 A000000 32
030 B000000 5.75
030 C000000 0.00
031 A000000 3
031 B000000 0
032 000000 29
033 000000 0
034 000000 Y
035 000000 4
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 100
043 000000 220
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.700
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
<PAGE> PAGE 12
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 100
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
<PAGE> PAGE 13
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 N
066 E000000 Y
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 Y
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 0
<PAGE> PAGE 14
071 B000000 6875
071 C000000 31367
071 D000000 0
072 A000000 6
072 B000000 358
072 C000000 364
072 D000000 0
072 E000000 0
072 F000000 34
072 G000000 157
072 H000000 0
072 I000000 29
072 J000000 3
072 K000000 1
072 L000000 3
072 M000000 0
072 N000000 22
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 6
072 S000000 6
072 T000000 220
072 U000000 0
072 V000000 0
072 W000000 0
072 X000000 481
072 Y000000 0
072 Z000000 241
072AA000000 2128
072BB000000 26
072CC010000 1262
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 1
074 B000000 0
074 C000000 15613
074 D000000 39
074 E000000 12
074 F000000 28959
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 0
074 K000000 0
<PAGE> PAGE 15
074 L000000 81
074 M000000 0
074 N000000 44704
074 O000000 0
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 134
074 S000000 0
074 T000000 44570
074 U010000 98
074 U020000 2792
074 V010000 15.47
074 V020000 15.42
074 W000000 0.0000
074 X000000 4051
074 Y000000 0
075 A000000 0
075 B000000 44999
076 000000 0.00
077 A000000 N
080 C000000 0
081 B000000 0
082 B000000 0
083 B000000 0
084 B000000 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE JAMES R. BAIO
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE TEMPLETON
AMERICAN TRUST INC. JUNE 30, 1996 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 001
<NAME> TEMPLETON AMERICAN TRUST CLASS I
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 34640608
<INVESTMENTS-AT-VALUE> 44621957
<RECEIVABLES> 80649
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 888
<TOTAL-ASSETS> 44703494
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 133743
<TOTAL-LIABILITIES> 133743
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32246966
<SHARES-COMMON-STOCK> 97701
<SHARES-COMMON-PRIOR> 61870
<ACCUMULATED-NII-CURRENT> 241208
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2100228
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9981349
<NET-ASSETS> 44569751
<DIVIDEND-INCOME> 364017
<INTEREST-INCOME> 357598
<OTHER-INCOME> 0
<EXPENSES-NET> 480407
<NET-INVESTMENT-INCOME> 241208
<REALIZED-GAINS-CURRENT> 2102001
<APPREC-INCREASE-CURRENT> 1261868
<NET-CHANGE-FROM-OPS> 3605077
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 62053
<NUMBER-OF-SHARES-REDEEMED> (26222)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (493981)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1773)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 33724
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 480407
<AVERAGE-NET-ASSETS> 1337642
<PER-SHARE-NAV-BEGIN> 14.23
<PER-SHARE-NII> .12
<PER-SHARE-GAIN-APPREC> 1.12
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.47
<EXPENSE-RATIO> 1.46
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON AMERICAN TRUST INC. JUNE 30, 1996 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 002
<NAME> TEMPLETON AMERICAN TRUST CLASS II
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 34640608
<INVESTMENTS-AT-VALUE> 44621957
<RECEIVABLES> 80649
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 888
<TOTAL-ASSETS> 44703494
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 133743
<TOTAL-LIABILITIES> 133743
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32246966
<SHARES-COMMON-STOCK> 2791506
<SHARES-COMMON-PRIOR> 3101475
<ACCUMULATED-NII-CURRENT> 241208
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2100228
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9981349
<NET-ASSETS> 44569751
<DIVIDEND-INCOME> 364017
<INTEREST-INCOME> 357598
<OTHER-INCOME> 0
<EXPENSES-NET> 480407
<NET-INVESTMENT-INCOME> 241208
<REALIZED-GAINS-CURRENT> 2102001
<APPREC-INCREASE-CURRENT> 1261866
<NET-CHANGE-FROM-OPS> 3605077
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 102178
<NUMBER-OF-SHARES-REDEEMED> (412147)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (493981)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1773)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 33724
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 480407
<AVERAGE-NET-ASSETS> 43661053
<PER-SHARE-NAV-BEGIN> 14.25
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> 1.09
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.42
<EXPENSE-RATIO> 2.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
