-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FiBKNpfJaNP66ISNSnyl4AXcgLb3WNq+pGuSqkb3FhRNL7w8gNoWGetPJt2VmOCU
 Gt7hRtgotHeyEHBQpsd42w==

<SEC-DOCUMENT>0000038777-00-000319.txt : 20000224
<SEC-HEADER>0000038777-00-000319.hdr.sgml : 20000224
ACCESSION NUMBER:		0000038777-00-000319
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20000120
FILED AS OF DATE:		20000223

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN UNIVERSAL TRUST
		CENTRAL INDEX KEY:			0000833040
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		IRS NUMBER:				943077602
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		
		SEC FILE NUMBER:	811-05569
		FILM NUMBER:		551379

	BUSINESS ADDRESS:	
		STREET 1:		777 MARINERS ISLAND BLVD
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94404
		BUSINESS PHONE:		4153122000
<REPORTING-OWNER>

COMPANY DATA:	
	COMPANY CONFORMED NAME:			SIMPSON MURRAY
	CENTRAL INDEX KEY:			0001066021
	STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
<RELATIONSHIP>OFFICER
	STATE OF INCORPORATION:			DE
	FISCAL YEAR END:			0930

FILING VALUES:
	FORM TYPE:		3

BUSINESS ADDRESS:	
	STREET 1:		901 MARINERS ISLAND BLVD
	STREET 2:		6TH FLOOR
	CITY:			SAN MATEO
	STATE:			CA
	ZIP:			94404
	BUSINESS PHONE:		6503123000

MAIL ADDRESS:	
	STREET 1:		FRANKLIN RESOURCES INC
	STREET 2:		901 MARINERS ISLAND BLVD 6TH FLOOR
	CITY:			SAN MATEO
	STATE:			CA
	ZIP:			94404
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<TEXT>

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
   Simpson, Murray L.
   777 Mariners Island Boulevard


   San Mateo, CA 94404
2. Date of Event Requiring Statement (Month/Day/Year)
   01/20/2000
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)

4. Issuer Name and Ticker or Trading Symbol
   Franklin Universal Trust (FUT)
5. Relationship of Reporting Person to Issuer (Check all applicable)
   [ ] Director                   [ ] 10% Owner
   [X] Officer (give title below) [ ] Other (specify below)
   VP & Assistant Secretary
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/ Simpson, Murray L.
DATE 02/15/00
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
