<PAGE> PAGE 1
000 B000000 06/30/98
000 C000000 0000890089
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE MONEY MARKET PORTFOLIOS
001 B000000 811-7038
001 C000000 6503122000
002 A000000 777 MARINERS ISLAND BOULEVARD
002 B000000 SAN MATEO
002 C000000 CA
002 D010000 94404
002 D020000 1585
003 000000 N
004 000000 N
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006 000000 N
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007 C020100 THE MONEY MARKET PORTFOLIO
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007 C020200 THE U.S. GOV. SEC. MONEY MARKET PORTFOLIO
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007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 FRANKLIN ADVISERS, INC.
008 B00AA01 A
008 C00AA01 801-26292
008 D01AA01 SAN MATEO
008 D02AA01 CA
008 D03AA01 94404
008 D04AA01 1585
012 A00AA01 FRANKLIN/TEMPLETON INVESTOR SERVICES, INC.
012 B00AA01 84-1036
012 C01AA01 SAN MATEO
012 C02AA01 CA
012 C03AA01 94404
012 C04AA01 1585
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
<PAGE> PAGE 2
013 B01AA01 SAN FRANCISCO
013 B02AA01 CA
013 B03AA01 94105
013 B04AA01 2119
015 A00AA01 BANK OF NEW YORK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10286
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 205
019 C00AA00 FRNKTEMGRP
020 C000001 0
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020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 MORGAN STANLEY DEAN WITTER & CO.
022 B000001 13-2655998
022 C000001 36745557
022 D000001 0
022 A000002 MORGAN (J P) SECURITIES INC
022 B000002 13-3224016
022 C000002 36646192
022 D000002 0
022 A000003 SWISS BANK CORP INV BANK
022 B000003 13-2639550
022 C000003 14240100
022 D000003 0
022 A000004 UBS SECURITIES, L.L.C.
022 B000004 13-2932996
022 C000004 14007700
022 D000004 0
022 A000005 CIBC WOOD GUNDY SEC CORP
022 B000005 13-3639028
022 C000005 10869163
022 D000005 0
022 A000006 BANCAMERICA ROBERTSON STEPHENS
022 B000006 95-4035346
022 C000006 6793591
022 D000006 0
022 A000007 BARCLAYS CAPITAL INC
022 B000007 13-3551367
<PAGE> PAGE 3
022 C000007 6531890
022 D000007 0
022 A000008 DRESDNER KLEINWORT BENSON NA, LLC
022 B000008 04-2442748
022 C000008 6324985
022 D000008 0
022 A000009 AUBREY LANSTON & COMPANY
022 B000009 13-5552129
022 C000009 4712673
022 D000009 0
022 A000010 BEAR, STEARNS, & CO INC
022 B000010 13-3299429
022 C000010 3706300
022 D000010 0
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039 00AA00 N
040 00AA00 N
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<PAGE> PAGE 4
045 00AA00 Y
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048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
<PAGE> PAGE 5
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 5000000
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 Y
077 Q010000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 175000
081 A00AA00 Y
081 B00AA00 203
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082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
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085 A00AA00 Y
085 B00AA00 N
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025 A000101 MORGAN STANLEY DEAN WITTER & CO.
025 B000101 13-2655998
025 C000101 D
025 D000101 79630
025 A000102 J.P. MORGAN & CO., INC.
025 B000102 13-3224016
025 C000102 D
025 D000102 49166
025 A000103 SWISS BANK CORP., NY BRANCH
025 B000103 13-2639550
025 C000103 D
<PAGE> PAGE 6
025 D000103 24992
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<PAGE> PAGE 7
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063 B000100 0.0
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070 A010100 Y
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070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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<PAGE> PAGE 8
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<PAGE> PAGE 9
074 R030100 0
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074 W000100 0.9998
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024 000200 N
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<PAGE> PAGE 10
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063 B000200 0.0
064 A000200 N
064 B000200 N
070 A010200 Y
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070 C020200 N
070 D010200 N
070 D020200 N
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070 E020200 N
070 F010200 N
070 F020200 N
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070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
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<PAGE> PAGE 11
070 O010200 Y
070 O020200 N
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<PAGE> PAGE 12
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SIGNATURE LAURA FERGERSON
TITLE ASST TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
MONEY MARKET PORTFOLIOS JUNE 30, 1998 ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> THE MONEY MARKET PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,725,242,664
<INVESTMENTS-AT-VALUE> 1,725,242,664
<RECEIVABLES> 318,939,888
<ASSETS-OTHER> 4,644
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,044,187,196
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 557,893
<TOTAL-LIABILITIES> 557,893
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,043,629,303
<SHARES-COMMON-STOCK> 2,043,629,303
<SHARES-COMMON-PRIOR> 1,773,545,989
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,043,629,303
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 111,619,440
<OTHER-INCOME> 0
<EXPENSES-NET> (2,965,776)
<NET-INVESTMENT-INCOME> 108,653,664
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 108,653,664
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (108,653,664)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,690,107,931
<NUMBER-OF-SHARES-REDEEMED> (5,528,677,570)
<SHARES-REINVESTED> 108,652,953
<NET-CHANGE-IN-ASSETS> 270,083,314
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (2,963,304)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,098,222)
<AVERAGE-NET-ASSETS> 1,976,218,654
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.055
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.055)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.150<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> .000
<FN>
<F1>RATIO OF EXPENSES EXCLUDING WAIVER AND PAYMENTS BY AFFILIATE
AMOUNTED TO 0.16%.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE MONEY
MARKET PORTFOLIOS JUNE 30, 1998 ANNUAL REPORT AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> US GOVERNMENT SECURITIES MONEY MARKET PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 49,986,992
<INVESTMENTS-AT-VALUE> 49,986,992
<RECEIVABLES> 213,559,004
<ASSETS-OTHER> 2,198
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 263,548,194
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 321,816
<TOTAL-LIABILITIES> 321,816
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 263,226,378
<SHARES-COMMON-STOCK> 263,226,378
<SHARES-COMMON-PRIOR> 258,629,177
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 263,226,378
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14,584,936
<OTHER-INCOME> 0
<EXPENSES-NET> (394,492)
<NET-INVESTMENT-INCOME> 14,190,444
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 14,190,444
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,190,444)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 963,956,819
<NUMBER-OF-SHARES-REDEEMED> (973,549,880)
<SHARES-REINVESTED> 14,190,262
<NET-CHANGE-IN-ASSETS> 4,597,201
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (394,321)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (421,380)
<AVERAGE-NET-ASSETS> 262,994,938
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.054
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.054)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.150<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
<FN>
<F1>RATIO OF EXPENSES EXCLUDING WAIVER AND PAYMENTS BY AFFILIATE
AMOUNTED TO 0.16%.
</FN>
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Shareholders and Board of Trustees of The Money
Market Portfolios
In planning and performing our audit of the financial
statements of The Money Market Portfolios for the year ended
June 30, 1998, we considered its internal control, including
controls over 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
internal control.
The management of The Money Market Portfolios is responsible
for establishing and maintaining internal control. In
fulfilling this responsibility, estimates and judgments by
management are required to assess the
expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for
external purposes that are fairly presented in conformity
with generally accepted accounting principles. Those
controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, errors
or irregularities may occur and not be detected. Also,
projection of any evaluation of internal control 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 internal control would not necessarily
disclose all matters in internal control 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 any specific internal control component 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 internal control,
including controls over safeguarding securities that we
consider to be material weaknesses as defined above as of
June 30, 1998.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
S\PricewaterhouseCoopers LLP
San Francisco,California
July 30, 1998
