TEMPLETON DRAGON FUND INC
3, 1998-04-09
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3  INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

1. Name and Address of Reporting Person
   Brady, Nicholas Frederick
   The Bullitt House
   Dover & Harrison Streets
   
   Easton, MD  21601
2. Date of Event Requiring Statement (Month/Day/Year)
   9/20/94
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)

4. Issuer Name and Ticker or Trading Symbol
   
5. Relationship of Reporting Person to Issuer (Check all applicable)
   [X] Director                   [ ] 10% Owner 
   [ ] Officer (give title below) [ ] Other (specify below)
    
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
   [X] Form filed by One Reporting Person
   [ ] Form filed by More than One Reporting Person

<TABLE>
<CAPTION>
Table I   Non-Derivative Securities Beneficially Owned
- -----------------------------------------------------------------------------------------------------
1)Title of Security                                          2)Amount of         3)  4)Nature of     
                                                             Securities          D   Indirect        
                                                             Beneficially        or  Beneficial      
                                                             Owned               I   Ownership       
- -----------------------------------------------------------------------------------------------------
<S>                                                          <C>                 <C> <C>             

<CAPTION>
Table II   Derivative Securitites Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative Security  2)Date Exercisable  3)Title and Amount of                   4)Conver-  5)Ownership 6)Nature of      
                                and Expiration Date Securities Underlying                   sion or    Form of     Indirect         
                                (Month/Day/Year)    Derivative Security                     exercise   Derivative  Beneficial       
                                                                                            price of   Security    Ownership        
                                Date      Expira-                                Amount or  Deri-      Direct(D)                    
                                Exer-     tion                                   Number of  vative     or                           
                                cisable   Date      Title                        Shares     Security   Indirect(I)                  
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                             <C>       <C>       <C>                          <C>        <C>        <C>         <C>              

<FN>
Explanation of Responses:


</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ By: THOMAS M. MISTELE AS ATTORNEY-IN-FACT
    For: NICHOLAS F. BRADY
DATE 09/15/94


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