<SEC-DOCUMENT>0000833040-01-500019.txt : 20011101
<SEC-HEADER>0000833040-01-500019.hdr.sgml : 20011101
ACCESSION NUMBER:		0000833040-01-500019
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20010831
FILED AS OF DATE:		20011030

FILER:

	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:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05569
		FILM NUMBER:		1769454

	BUSINESS ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403-1906
		BUSINESS PHONE:		650-312-2000

	MAIL ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		CITY:			SAN  MATEO
		STATE:			CA
		ZIP:			94403-1906
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>answer.fil
<DESCRIPTION>N-SAR ANSWER FILE
<TEXT>
<PAGE>      PAGE  1
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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SIGNATURE   KIMBERLEY MONASTERIO
TITLE       TREASURER


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.J OTHER OPININ
<SEQUENCE>4
<FILENAME>opinion.txt
<DESCRIPTION>AUDITORS OPINION
<TEXT>
              REPORT OF INDEPENDENT ACCOUNTANTS


To the Shareholders and Board of Trustees of Franklin
Universal  Trust.

In planning and performing our audit of the financial
statements of Franklin Universal Trust for the year ended
August 31, 2001, we considered its internal control,
including control activities 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 Franklin Universal Trust 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
accounting principles generally accepted in the United
States of America. 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 may not be detected.  Also,
projection of any evaluation of internal control to future
periods is subject to the risk that controls may become
inadequate because of changes in conditions or that the
effectiveness of their 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 one or more of the internal control components
does not reduce to a relatively low level the risk that
misstatements caused by error or fraud 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 and its operation, including controls over
safeguarding securities, that we consider to be material
weaknesses as defined above, as of August 31, 2001.

This report is intended solely for the information and use
of the Board of Trustees, management and the Securities and
Exchange Commission and is not intended to be and should not
be used by anyone other than these specified parties.



PricewaterhouseCoopers
San Francisco, California
October 3, 2001


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77E LEGAL
<SEQUENCE>5
<FILENAME>legal.txt
<DESCRIPTION>LEGAL ATTACHMENT
<TEXT>
3

NAME OF REGISTRANT:
Franklin Universal Trust
File No. 811-5569


EXHIBIT ITEM No. 77C:  Submission of matters to a vote of
security holders.







                    FRANKLIN UNIVERSAL TRUST
        MINUTES OF THE 2001 ANNUAL SHAREHOLDERS' MEETING

                           MAY 8, 2001







The Annual Shareholders' Meeting of Franklin Universal Trust (the
"Fund")  was held on May 8, 2001 at 2:00 p.m. at the  offices  of
the  Fund,  777 Mariners Island Boulevard, San Mateo, California,
94404.

Steven Gray presided at the Meeting and acted as Secretary.  Mr.
Gray appointed Joyce L. Sanns to serve as Inspector of Elections.

The  reading of the "Notice of 2001 Annual Shareholders' Meeting"
dated  April  10, 2001, was waived. Mr. Gray indicated  that  the
Notice of the Meeting and the accompanying Proxy Statement  would
be entered into the Minutes of the Meeting.

An alphabetical list of shareholders entitled to vote at the
Meeting and the proxies which had been executed by the
shareholders were then presented.  The Inspector of Election
reported that on the record date, March 29, 2001, there were
26,930,832 shares of the Fund issued, outstanding and entitled to
vote at the Meeting, and that a majority of such shares was
represented by proxy at the Meeting and there was the quorum
needed to transact the business of the Meeting.

Mr.  Gray then called for voting on the matters set forth in  the
Proxy  Statement.  Ms.  Sanns then reported  that  all  proposals
passed and the voting was as follows:
1.   1.   Regarding the election of a Board of Trustees of the Fund.


         Trustees               Shares             Shares
                                 For              Against
  Frank H. Abbott          23,173,870.0523      261,717.7822
  Harris J. Ashton         23,197,253.0523      238,334.7822
  Robert F. Carlson        23,195,911.0523      239,676.7822
  S. Joseph Fortunato      23,196,053.0523      239,534.7822
  Edward B. Jamieson       23,197,661.0523      237,926.7822
  Charles B. Johnson       23,193,653.0523      241,934.7822
  Rupert H. Johnson, Jr.   23,196,061.0523      239,526.7822
  Frank W.T. LaHaye        23,191,103.0523      244,484.7822
  Gordon S. Macklin        23,196,003.0523      239,584.7822

2.   Regarding the ratification of the selection of
  PricewaterhouseCoopers LLP, as the independent auditor for the
  Fund for the fiscal year ending August 31, 2001.


        Shares             Shares
         For              Against
   23,179,027.2686      69,325.9999

3.   Regarding the proposal to grant the proxyholders the
authority to vote upon any other business that may legally come
      before the Meeting.


       Shares             Shares
         For              Against
   22,549,034.1587     422,343.7512

There being no further business to come before the meeting, upon
motion duly made, seconded and carried, the Meeting was
adjourned.



Dated:  May 8, 2001

     /s/Steven Gray__________________________
Steven Gray
Acting Secretary




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
