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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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MIC-Info: RSA-MD5,RSA,
 ETltodLjCDbdCGhaENngNxMjqVsbXyUV9omJhNveJbEKJCQfw8gufetJnSGLuyqm
 UFC9OOee96v4JLC+Y+kJJQ==

<SEC-DOCUMENT>0000833040-06-000026.txt : 20061027
<SEC-HEADER>0000833040-06-000026.hdr.sgml : 20061027
<ACCEPTANCE-DATETIME>20061027134946
ACCESSION NUMBER:		0000833040-06-000026
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20060831
FILED AS OF DATE:		20061027
DATE AS OF CHANGE:		20061027
EFFECTIVENESS DATE:		20061027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN UNIVERSAL TRUST
		CENTRAL INDEX KEY:			0000833040
		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:		061168271

	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>ANSWER FILE
<TEXT>
<PAGE>      PAGE  1
000 B000000 08/31/2006
000 C000000 0000833040
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 FRANKLIN UNIVERSAL TRUST
001 B000000 811-5569
001 C000000 6503122000
002 A000000 ONE FRANKLIN PARKWAY
002 B000000 SAN MATEO
002 C000000 CA
002 D010000 94403
002 D020000 1906
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
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007 C010200  2
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007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
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007 C011100 11
007 C011200 12
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007 C011600 16
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007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
<PAGE>      PAGE  2
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007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
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<PAGE>      PAGE  3
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007 C018400 84
007 C018500 85
007 C018600 86
007 C018700 87
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007 C018900 89
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008 B000001 A
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008 D020001 CA
008 D030001 94403
008 D040001 1906
010 A000001 FRANKLIN TEMPLETON SERVICES LLC
010 C010001 SAN MATEO
010 C020001 CA
010 C030001 94403
010 C040001 1906
011 A000001 UBS PAINEWEBBER INC.
011 B000001 8-16267
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10019
011 A000002 A.G. EDWARDS & SONS INC.
011 B000002 8-13580
011 C010002 ST.LOUIS
011 C020002 MO
011 C030002 63103
011 A000003 SALOMON SMITH BARNEY INC.
011 B000003 8-00541
011 C010003 NEW YORK
011 C020003 NY
011 C030003 10013
011 A000004 RBC DAIN RAUSCHER INC.
011 B000004 8-45411
011 C010004 MINNEAPOLIS
011 C020004 MN
011 C030004 55402
011 C040004 4422
011 A000005 RAYMOND JAMES & ASSOCIATES
011 B000005 8-04393
011 C010005 ST. PETERSBURG
011 C020005 FL
011 C030005 33733
011 C040005 4508
011 A000006 BEAR STEARNS & CO. INC
<PAGE>      PAGE  4
011 B000006 8-35008
011 C010006 NEW YORK
011 C020006 NY
011 C030006 10179
011 A000007 FIRST BOSTON CORP
011 B000007 8-91836
011 C010007 NEW YORK
011 C020007 NY
011 C030007 10055
011 A000008 ALEX BROWN INVESTMENT MANAGEMENT LLC
011 B000008 8-04401
011 C010008 BALTIMORE
011 C020008 MD
011 C030008 21202
011 A000009 DONALDSON LUFKIN & JENRETTE INC
011 B000009 8-96058
011 C010009 NEW YORK
011 C020009 NY
011 C030009 10005
011 A000010 DREXEL BURNHAM LAMBERT REAL ESTATE
011 B000010 8-5829
011 C010010 GREENVILLE
011 C020010 SC
011 C030010 29602
011 A000011 GOLDMAN, SACHS & CO
011 B000011 8-00129
011 C010011 NEW YORK
011 C020011 NY
011 C030011 10004
012 A000001 PFPC INC.
012 B000001 84-1761
012 C010001 PROVIDENCE
012 C020001 RI
012 C030001 02940
012 C040001 3027
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 SAN FRANCISCO
013 B020001 CA
013 B030001 94111
013 B040001 4004
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
015 A000002 CITIBANK ARGENTINA
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 E040002 X
<PAGE>      PAGE  5
015 A000003 FRANKLIN/TEMPLETON INVESTOR SERVICES LLC
015 B000003 C
015 C010003 SAN MATEO
015 C020003 CA
015 C030003 94403
015 C040003 1906
015 E030003 X
015 A000004 NATIONAL AUSTRALIA BANK LIMITED
015 B000004 S
015 C010004 MELBOURNE
015 D010004 AUSTRALIA
015 E040004 X
015 A000005 BANK AUSTRIA CREDITANSTALT AG
015 B000005 S
015 C010005 VIENNA
015 D010005 AUSTRIA
015 E040005 X
015 A000006 ING BELGIUM SA/NV
015 B000006 S
015 C010006 BRUSSELS
015 D010006 BELGIUM
015 E040006 X
015 A000007 CITIBANK,N.A., BRAZILIAN BRANCH
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015 C010007 SAO PAULO
015 D010007 BRAZIL
015 E040007 X
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015 B000008 S
015 C010008 MONTREAL
015 D010008 CANADA
015 E040008 X
015 A000009 THE HONGKONG & SHANGHAI BANKING CORP.
015 B000009 S
015 C010009 SHANGHAI
015 D010009 CHINA
015 E040009 X
015 A000010 THE HONGKONG & SHANGHAI BANKING CORP.
015 B000010 S
015 C010010 SHENZHEN
015 D010010 CHINA
015 E040010 X
015 A000011 DANSKE BANK A/S
015 B000011 S
015 C010011 COPENHAGEN
015 D010011 DENMARK
015 E040011 X
015 A000012 DELETE
015 A000013 CLEARSTREAM BANKING LUXEM, SOCIETE ANONYME
015 B000013 S
015 C010013 LUXEMBOURG
<PAGE>      PAGE  6
015 D010013 EUROMARKET
015 E040013 X
015 A000014 EUROCLEAR BANK
015 B000014 S
015 C010014 BRUSSELS
015 D010014 EUROMARKET
015 E040014 X
015 A000015 NORDEA BANK FINLAND PLC
015 B000015 S
015 C010015 HELSINKI
015 D010015 FINLAND
015 E040015 X
015 A000016 BNP PARIBAS SECURITIES SERVICES
015 B000016 S
015 C010016 PARIS
015 D010016 FRANCE
015 E040016 X
015 A000017 BHF-BANK AG
015 B000017 S
015 C010017 FRANKFURT/MAIN
015 D010017 GERMANY
015 E040017 X
015 A000018 THE HONGKONG & SHANGHAI BANKING CORP., LTD
015 B000018 S
015 C010018 HONG KONG
015 D010018 HONG KONG
015 E040018 X
015 A000019 THE HONGKONG & SHANGHAI BANKING CORP., LTD
015 B000019 S
015 C010019 JAKARTA
015 D010019 INDONESIA
015 E040019 X
015 A000020 THE BANK OF NEW YORK
015 B000020 S
015 C010020 LONDON
015 D010020 IRELAND
015 E040020 X
015 A000021 BANK OF TOKYO-MITSUBISHI UFJ LTD.
015 B000021 S
015 C010021 TOKYO
015 D010021 JAPAN
015 E040021 X
015 A000022 BANQUE ET CAISSE D'EPARGNE DE L'ETAT LUXEM.
015 B000022 S
015 C010022 LUXEMBOURG
015 D010022 LUXEMBOURG
015 E040022 X
015 A000024 BANCO NACIONAL DE MEXICO S.A.
015 B000024 S
015 C010024 MEXICO CITY
015 D010024 MEXICO
<PAGE>      PAGE  7
015 E040024 X
015 A000025 ING SECURITIES SERVICES NL
015 B000025 S
015 C010025 AMSTERDAM
015 D010025 NETHERLANDS
015 E040025 X
015 A000026 NATIONAL AUSTRALIA BANK
015 B000026 S
015 C010026 AUCKLAND
015 D010026 NEW ZEALAND
015 E040026 X
015 A000027 STANDARD CHARTERED BANK
015 B000027 S
015 C010027 KARACHI
015 D010027 PAKISTAN
015 E040027 X
015 A000028 THE HONGKONG & SHANGHAI BANKING CORP., LTD
015 B000028 S
015 C010028 PASIG CITY
015 D010028 PHILIPPINES
015 E040028 X
015 A000029 BANCO COMERCIAL PORTUGUES, S.A.
015 B000029 S
015 C010029 PORTO SALVO
015 D010029 PORTUGAL
015 E040029 X
015 A000030 DBS BANK LTD.
015 B000030 S
015 C010030 SINGAPORE
015 D010030 SINGAPORE
015 E040030 X
015 A000031 STANDARD BANK
015 B000031 S
015 C010031 JOHANNESBURG
015 D010031 SOUTH AFRICA
015 E040031 X
015 A000032 BANCO BILBAO VIZCAYA ARGENTARIA SA
015 B000032 S
015 C010032 MADRID
015 D010032 SPAIN
015 E040032 X
015 A000033 THE HONGKONG & SHANGHAI BANKING CORPORATION
015 B000033 S
015 C010033 COLOMBO
015 D010033 SRI LANKA
015 E040033 X
015 A000034 SKANDINAVISKA ENSKILDA BANKEN AB
015 B000034 S
015 C010034 STOCKHOLM
015 D010034 SWEDEN
015 E040034 X
<PAGE>      PAGE  8
015 A000035 CREDIT SUISSE ZURICH
015 B000035 S
015 C010035 ZURICH
015 D010035 SWITZERLAND
015 E040035 X
015 A000036 THE HONGKONG & SHANGHAI BANKING CORPORATION
015 B000036 S
015 C010036 BANGKOK
015 D010036 THAILAND
015 E040036 X
015 A000038 DELETE
015 A000039 BARCLAYS BANK OF ZAMBIA LIMITED
015 B000039 S
015 C010039 LUSAKA
015 D010039 ZAMBIA
015 E040039 X
015 A000040 BARCLAYS BANK OF ZIMBABWE LIMITED
015 B000040 S
015 C010040 HARARE
015 D010040 ZIMBABWE
015 E040040 X
015 A000041 BARCLAYS BANK OF BOTSWANA LTD.
015 B000041 S
015 C010041 GABORONE
015 D010041 BOTSWANA
015 E040041 X
015 A000042 BARCLAYS BANK OF GHANA LTD.
015 B000042 S
015 C010042 ACCRA
015 D010042 GHANA
015 E040042 X
015 A000043 BANCA INTESA
015 B000043 S
015 C010043 MILAN
015 D010043 ITALY
015 E040043 X
015 A000044 ATTIJARIWAFA BANK
015 B000044 S
015 C010044 CASABLANCA
015 D010044 MOROCCO
015 E040044 X
015 A000045 STANDARD BANK NAMIBIA LIMITED
015 B000045 S
015 C010045 WINDHOEK
015 D010045 NAMIBIA
015 E040045 X
015 A000046 STANBIC BANK NIGERIA LIMITED
015 B000046 S
015 C010046 LAGOS
015 D010046 NIGERIA
015 E040046 X
<PAGE>      PAGE  9
015 A000048 THE BANK OF NEW YORK
015 B000048 S
015 C010048 LONDON
015 D010048 UNITED KINGDOM
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020 B000002 13-2518466
020 C000002      6
020 A000003 CANTOR FITZGERALD & CO.
020 B000003 13-3680184
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020 A000004 GOLDMAN, SACHS & CO.
020 B000004 13-5108880
020 C000004      4
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020 C000005      1
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020 B000006 22-3769249
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022 B000003 13-2518466
022 C000003      9356
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022 A000004 DEUTCHE BANK SECURITIES INC.
<PAGE>      PAGE  10
022 B000004 13-2730828
022 C000004      7446
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022 A000005 CITIGROUP GLOBAL MARKETS INC.
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022 C000005     10454
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  16
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SIGNATURE   LAURA FERGERSON
TITLE       TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>3
<FILENAME>auditor.txt
<DESCRIPTION>AUDITORS OPINION
<TEXT>

                                                                1






     Report of Independent Registered Public Accounting Firm

To the Board of Trustees and Shareholders of
Franklin Universal Trust

In planning and performing our audit of the financial statements
of Franklin Universal Trust (the "Fund") as of and for the year
ended August 31, 2006, in accordance with the standards of the
Public Company Accounting Oversight Board (United States), we
considered the Fund's internal control over financial reporting,
including control activities for safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, but not for the purpose of
expressing an opinion on the effectiveness of the Fund's internal
control over financial reporting. Accordingly, we express no such
opinion.

The management of the Fund is responsible for establishing and
maintaining effective internal control over financial reporting.
In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and
related costs of controls.  A fund's internal control over
financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles.  Such
internal control over financial reporting includes policies and
procedures that provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition, use or
disposition of a fund's assets that could have a material effect
on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the degree
of compliance with the policies or procedures may deteriorate.

A control deficiency exists when the design or operation of a
control does not allow management or employees, in the normal
course of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A significant deficiency
is a control deficiency, or combination of control deficiencies,
that adversely affects the fund's ability to initiate, authorize,
record, process or report external financial data reliably in
accordance with generally accepted accounting principles such
that there is more than a remote likelihood that a misstatement
of the fund's annual or interim financial statements that is more
than inconsequential will not be prevented or detected. A
material weakness is a control deficiency, or combination of
control deficiencies, that results in more than a remote
likelihood that a material misstatement of the annual or interim
financial statements will not be prevented or detected.
Our consideration of the Fund's internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in
internal control over financial reporting that might be significant
deficiencies or material weaknesses under standards established by
the Public Company Accounting Oversight Board (United States).
However, we noted no deficiencies in the Fund's internal control
over financial reporting and its operation, including controls for
safeguarding securities, that we consider to be material weaknesses
as defined above as of August 31, 2006.

This report is intended solely for the information and use of
management and the Board of Trustees of Franklin Universal Trust 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 LLP
San Francisco, California
October 18, 2006
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77E LEGAL
<SEQUENCE>4
<FILENAME>regmatters.txt
<DESCRIPTION>REG MATTER
<TEXT>
REGULATORY MATTERS

As part of various investigations by a number of federal, state, and
foreign regulators and governmental entities, relating to certain
practices in the mutual fund industry, including late trading, market
timing and marketing support payments to securities dealers who sell
fund shares, Franklin Resources, Inc. and certain of its subsidiaries
(collectively, the "Company"), entered into settlements with certain
of those regulators.

Specifically, the Company entered into settlements with the
Securities and Exchange Commission ("SEC") concerning market timing
(the "August 2, 2004 SEC Order") and marketing support payments to
securities dealers who sell fund shares (the "December 13, 2004 SEC
Order") and with the California Attorney General's Office ("CAGO")
concerning marketing support payments to securities dealers who sell
fund shares (the "CAGO Settlement"). Under the terms of the
settlements with the SEC and the CAGO, the Company retained an
Independent Distribution Consultant ("IDC") to develop separate plans
for the distribution of the respective settlement monies. The CAGO
approved the distribution plan pertaining to the distribution of the
monies owed under the CAGO settlement agreement, and in March 2005,
the disbursement of monies to the relevant funds in accordance with
the terms and conditions of that settlement was completed.

On June 23, 2006, the SEC approved the IDC's proposed plan of
distribution arising from the December 13, 2004 SEC Order. The fund
recorded the settlement as other income and disbursement of the
settlement monies to the designated funds in accordance with the
terms and conditions of the SEC's order and the plan was completed in
September 2006.

The IDC has also completed a proposed Plan of Distribution under the
August 2, 2004 SEC Order resolving the SEC's market timing
investigation and has submitted that plan to the SEC staff, where it
is under review. The SEC has announced the following expected
schedule with respect to the market timing Plan of Distribution. The
SEC anticipates that Notice of the Plan will be published on or after
November 15, 2006. After publication and comment, the proposed
Distribution Plan will be submitted to the SEC for approval. When the
SEC approves the proposed Distribution Plan, with modifications as
appropriate, distributions will begin pursuant to that Plan.

In addition, the Company, as well as most of the mutual funds within
Franklin Templeton Investments and certain current or former
officers, directors, and/or employees, have been named in private
lawsuits (styled as shareholder class actions, or as derivative
actions on behalf of either the named funds or Franklin Resources,
Inc.) relating to the industry practices referenced above, as well as
to allegedly excessive advisory fees, commissions, and/or 12b-1 fees.
The lawsuits were filed in different courts throughout the country.
Many of those suits are now pending in a multi-district litigation in
the United States District Court for the District of Maryland.

The Company and fund management strongly believe that the claims made
in each of the private lawsuits referenced above are without merit
and intend to defend against them vigorously. The Company cannot
predict with certainty the eventual outcome of these lawsuits, nor
whether they will have a material negative impact on the Company. If
it is determined that the Company bears responsibility for any
unlawful or inappropriate conduct that caused losses to the Trust, it
is committed to making the Trust or its shareholders whole, as
appropriate.



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