SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT



     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934




         Date of Report (Date of earliest event reported): April 21, 1998
                                                          (April 21, 1998)

                            FRANKLIN RESOURCES, INC.
             (Exact name of registrant as specified in its charter)



          .... DELAWARE ................. 1-9318 ....... 13-2670991 ...
        (State or other jurisdiction   (Commission     (IRS Employer
        of incorporation)              File Number)   Identification No.)



       777 MARINERS ISLAND BLVD., SAN MATEO, CALIFORNIA ........ 94404...
      (Address of principal executive offices)                (Zip Code)



          Registrant's telephone number, including area code..(650) 312-3000


                -------------------------------------------------
          (Former name or former address, if changed since last report)



<PAGE>


Item 5.      Other Events

Registrant  is filing  this Form 8-K in order to file a current  earnings  press
release.  By this filing,  Registrant is not establishing the practice of filing
all earnings  press releases in the future and may  discontinue  such filings at
any time.

Item 7.      Financial Statements and Exhibits

(c)Exhibits

Exhibit "A" - Press Release issued on April 21, 1998 by Franklin Resources, Inc.


<PAGE>



                               SIGNATURES


      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                       FRANKLIN RESOURCES, INC.
                       (Registrant)


Date: April 21, 1998  /s/ Leslie M. Kratter
                      ----------------------
                       LESLIE M. KRATTER
                       Vice President


<PAGE>




                                Exhibits


          A.  Press Release issued on April 21, 1998 by Franklin Resources, Inc.



<PAGE>









FROM       Franklin Resources, Inc.
           Public Relations: Holly Gibson (650) 312-4701
           Investor Relations: Bijan Modanlou (650) 525-7584
           www.frk.com

                                                         For Immediate Release

              Franklin Resources Announces Second Quarter Results

      San Mateo, CA, April 21, 1998 -- Franklin Resources, Inc. (NYSE:BEN) today
reported  net income of $126.7  million for the second  fiscal  quarter of 1998,
compared to $101.4  million a year ago and $130.5  million for the quarter ended
December  31,  1997.  Operating  revenues  for the quarter  were $673.7  million
compared  to $519.2  million a year ago and  $632.4  million  for the  preceding
quarter.

Assets under  management  by the  Company's  subsidiaries  were $242.0  billion,
compared  with  $189.9  billion  this time last year and  $221.0  billion in the
preceding quarter.  Quarterly average assets under management during the quarter
were $229.4  billion  compared with $186.8 billion last year, and $220.6 billion
in the preceding  quarter.<F1> While assets under management have reached an all
time high, the Company has experienced  increased  pressure on operating margins
as a result of major  system  conversions,  Year  2000  efforts,  and  increased
advertising and promotional initiatives.

After adjusting  prior periods for the  two-for-one  stock split paid on January
15, 1998 diluted  earnings  per share for the quarter  ended March 31, 1998 were
$0.50 compared with $0.40 a year ago and $0.52 for the preceding  quarter.  <F2>
Average  diluted  shares  outstanding  for the  quarter  were  253.1  million as
compared  to  253.0  million  a year  ago and  253.2  million  for the  previous
quarter.<F2>

      Franklin   Resources,   Inc.  provides  global  and  domestic   investment
management,  shareholder  and  distribution  services to the Franklin  Templeton
mutual funds and institutional accounts, servicing over 8.2 million shareholders
in over 100 different nations worldwide.  Franklin's headquarters are located at
777 Mariners Island Blvd., San Mateo, CA.


--------------------------
<F1>    Based on simple monthly average.
<F2>    All prior  period  amounts have been  restated to reflect a  two-for-one
        stock split paid on January 15, 1998.


<PAGE>



FRANKLIN RESOURCES, INC.
Consolidated Income Statements
(Dollar amounts in thousands
except assets under management
and per share data.)
                                    Three months ended     Six months ended
                                         March 31              March 31
                                   -------------------------------------------
                                         1998       1997      1998      1997
Operating revenues:

Investment management fees          $ 380,948  $ 305,586   $  757,411  $578,846
Underwriting and distribution fees    248,914    180,285      464,201   316,771
Shareholder servicing fees             39,399     28,797       77,005    53,625
Other                                   4,430      4,528        7,473     7,579
                                   -------------------------------------------
Total operating revenues              673,691    519,196    1,306,090   956,821
                                   -------------------------------------------

Operating expenses:
Underwriting and distribution         242,406    172,638      447,718   304,921
Compensation and benefits             132,744    106,783      266,035   206,354
Information systems, technology
  and occupancy                        45,862     29,395       92,458    55,199
Advertising and promotion              31,243     23,406       58,605    42,072
Amortization of deferred sales
  commissions                          26,525     11,530       50,421    22,166
Amortization of intangible assets       8,949      9,057       17,944    16,402
Other                                  22,538     22,363       42,043    40,134
                                   ---------------------------------------------
Total operating expenses              510,267    375,172      975,224   687,248
                                   ---------------------------------------------

Operating income                      163,424    144,024      330,866   269,573
                                   ---------------------------------------------
Other income (expense):
Investment and other income            11,596      6,087       26,571    25,695
Interest expense                       (3,826)    (5,756)      (9,978)  (13,929)
                                   ---------------------------------------------
Other income (expense), net             7,770        331       16,593    11,766
                                   ---------------------------------------------
Income before taxes on income         171,194    144,355      347,459   281,339
Taxes on income                        44,525     42,944       90,275    83,699
                                  ----------------------------------------------
Net income                           $126,669  $ 101,411     $257,184 $ 197,640
                                    ===========================================

Earnings per share: <F1>
     Basic                              $0.50      $0.40        $1.02     $0.79
     Diluted                            $0.50      $0.40        $1.02     $0.78

Dividends per share <F1>                $0.05      $0.04        $0.10     $0.08

Average shares outstanding
  (in thousands): <F1>
     Basic                            252,860    252,278      252,682   251,612
     Diluted                          253,058    253,014      253,181   252,746

Assets under management
  (in millions):
     End of period                   $241,964   $189,901     $241,964  $189,901
     Average for period <F2>         $229,409   $186,759     $225,581  $176,505


------------------------------
<F1>  All prior period amounts have been restated to reflect a two-for-one stock
      split paid on January 15, 1998.
<F2>  Based on simple monthly average.



<PAGE>


<TABLE>
<CAPTION>
Consolidated Income Statements
(Dollar amounts in thousands
except assets
under management and per share                Three months ended
data.)
                                  31-Mar-98   31-Dec-97   30-Sep-97  30-Jun-97   31-Mar-97

<S>                              <C>          <C>          <C>         <C>        <C>
Operating revenues:
Investment management fees        $380,948     $376,463     $375,676    $337,966   $305,586
Underwriting and distribution
 fees                              248,914      215,287      222,597     195,744    180,285
Shareholder servicing fees          39,399       37,606       34,666      36,614     28,797
Other                                4,430        3,043          968       2,223      4,528
                                  --------------------------------------------------------------
Total operating revenues           673,691      632,399      633,907     572,547    519,196
                                  --------------------------------------------------------------
Operating expenses:
Underwriting and distribution      242,406      205,312      216,540     190,867    172,638
Compensation and benefits          132,744      133,291      125,339     115,476    106,783
Information systems and occupancy   45,862       46,596       48,720      31,474     29,395
Advertising and promotion           31,243       27,362       26,336      28,144     23,406
Amortization of deferred sales
  commissions                       26,525       23,896       18,526      18,773     11,530
Amortization of intangible assets    8,949        8,995        8,961       8,931      9,057
Other                               22,538       19,505       22,823      23,657     22,363
                                  ------------------------------------------------------------
Total operating expenses           510,267      464,957      467,245     417,322    375,172
                                  ------------------------------------------------------------
Operating income                   163,424      167,442      166,662     155,225    144,024
                                  ------------------------------------------------------------
Other income (expense):
Investment and other income         11,596       14,975       15,107       8,784      6,087
Interest expense                    (3,826)      (6,152)      (5,669)     (5,735)    (5,756)
                                  ------------------------------------------------------------
Other income (expense), net          7,770        8,823        9,438       3,049        331
                                  ------------------------------------------------------------
Income before taxes on income      171,194      176,265      176,100     158,274    144,355
Taxes on income                     44,525       45,750       50,865      47,086     42,944
                                    -----------------------------------------------------------
Net income                        $126,669     $130,515    $ 125,235   $ 111,188   $101,411
                                  =============================================================

Earnings per share: <F1>
     Basic                           $0.50        $0.52        $0.50      $0.44       $0.40
     Diluted                         $0.50        $0.52        $0.50      $0.44       $0.40

Dividends per share <F1>             $0.050       $0.050       $0.045     $0.045      $0.040

Average shares outstanding
  (in thousands): <F1>
     Basic                         252,860       252,692     252,112     252,186     252,278
     Diluted                       253,058       253,185     252,466     252,760     253,014

Assets under management
  (in millions):
     End of period                $241,964      $220,989    $225,952    $208,811    $189,901
     Average for period <F2>      $229,409      $220,606    $216,928    $198,174    $186,759


--------------------------
<F1> All prior period amounts have been restated to reflect a two-for-one  stock
     split paid on January 15, 1998.
<F2> Based on simple monthly average.
</TABLE>

<PAGE>


<TABLE>
<CAPTION>

ASSETS UNDER MANAGEMENT


(In billions)                  31-Mar-98   31-Dec-97    30-Sep-97    30-Jun-97    31-Mar-97
------------------------------------------------------------------------------------------
<S>                             <C>        <C>          <C>          <C>         <C>

Franklin Templeton Group:
    Equity:
      Global/international       $112.8     $99.2        $109.2       $99.0       $85.8
      Domestic (U.S.)              57.3      51.6          48.2        43.1        38.6
------------------------------------------------------------------------------------------
                                 $170.1     150.8         157.4       142.1       124.4
------------------------------------------------------------------------------------------

    Fixed income:
      Tax-free                     48.1      47.0          45.8        44.4        43.2
      Taxable:
         Domestic (primarily
            US Govt.)              15.7      15.5          15.1        15.1        15.4
         Global/international       4.1       3.8           4.0         3.5         3.1
------------------------------------------------------------------------------------------
                                   67.9      66.3          64.9        63.0        61.7
-----------------------------------------------------------------------------------------

    Money funds                     4.0       3.9           3.7         3.7         3.8

    ===========================================================================================
      Total Franklin
      Templeton Group            $242.0    $221.0        $226.0      $208.8      $189.9
    ===========================================================================================


</TABLE>
[{"type": "8-K", "sequence": "1", "description": "EARNINGS RELEASE", "secsgml_size_bytes": 14289}]
{"company-data": {"conformed-name": "FRANKLIN RESOURCES INC", "cik": "0000038777", "assigned-sic": "6282", "irs-number": "132670991", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09318", "film-number": "98597813"}, "business-address": {"street1": "777 MARINERS ISLAND BLVD", "street2": "6TH FLOOR", "city": "SAN MATEO", "state": "CA", "zip": "94404", "phone": "6503123000"}, "mail-address": {"street1": "FRANKLIN RESOURCES INC", "street2": "901 MARINERS ISLAND BLVD 6TH FLOOR", "city": "SAN MATEO", "state": "CA", "zip": "94404"}}
SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): April 21, 1998
                                                          (April 21, 1998)

                            FRANKLIN RESOURCES, INC.
             (Exact name of registrant as specified in its charter)

          .... DELAWARE ................. 1-9318 ....... 13-2670991 ...
        (State or other jurisdiction   (Commission     (IRS Employer
        of incorporation)              File Number)   Identification No.)

       777 MARINERS ISLAND BLVD., SAN MATEO, CALIFORNIA ........ 94404...
      (Address of principal executive offices)                (Zip Code)

          Registrant's telephone number, including area code..(650) 312-3000

                -------------------------------------------------
          (Former name or former address, if changed since last report)
Item 5.      Other Events

Registrant  is filing  this Form 8-K in order to file a current  earnings  press
release.  By this filing,  Registrant is not establishing the practice of filing
all earnings  press releases in the future and may  discontinue  such filings at
any time.

Item 7.      Financial Statements and Exhibits

(c)Exhibits

Exhibit "A" - Press Release issued on April 21, 1998 by Franklin Resources, Inc.
SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                       FRANKLIN RESOURCES, INC.
                       (Registrant)

Date: April 21, 1998  /s/ Leslie M. Kratter
                      ----------------------
                       LESLIE M. KRATTER
                       Vice President
Exhibits

          A.  Press Release issued on April 21, 1998 by Franklin Resources, Inc.
FROM       Franklin Resources, Inc.
           Public Relations: Holly Gibson (650) 312-4701
           Investor Relations: Bijan Modanlou (650) 525-7584
           www.frk.com

                                                         For Immediate Release

              Franklin Resources Announces Second Quarter Results

      San Mateo, CA, April 21, 1998 -- Franklin Resources, Inc. (NYSE:BEN) today
reported  net income of $126.7  million for the second  fiscal  quarter of 1998,
compared to $101.4  million a year ago and $130.5  million for the quarter ended
December  31,  1997.  Operating  revenues  for the quarter  were $673.7  million
compared  to $519.2  million a year ago and  $632.4  million  for the  preceding
quarter.

Assets under  management  by the  Company's  subsidiaries  were $242.0  billion,
compared  with  $189.9  billion  this time last year and  $221.0  billion in the
preceding quarter.  Quarterly average assets under management during the quarter
were $229.4  billion  compared with $186.8 billion last year, and $220.6 billion
in the preceding  quarter.
While assets under management have reached an all
time high, the Company has experienced  increased  pressure on operating margins
as a result of major  system  conversions,  Year  2000  efforts,  and  increased
advertising and promotional initiatives.

After adjusting  prior periods for the  two-for-one  stock split paid on January
15, 1998 diluted  earnings  per share for the quarter  ended March 31, 1998 were
$0.50 compared with $0.40 a year ago and $0.52 for the preceding  quarter.
Average  diluted  shares  outstanding  for the  quarter  were  253.1  million as
compared  to  253.0  million  a year  ago and  253.2  million  for the  previous
quarter.
Franklin   Resources,   Inc.  provides  global  and  domestic   investment
management,  shareholder  and  distribution  services to the Franklin  Templeton
mutual funds and institutional accounts, servicing over 8.2 million shareholders
in over 100 different nations worldwide.  Franklin's headquarters are located at
777 Mariners Island Blvd., San Mateo, CA.

--------------------------
Based on simple monthly average.
All prior  period  amounts have been  restated to reflect a  two-for-one
        stock split paid on January 15, 1998.
FRANKLIN RESOURCES, INC.
Consolidated Income Statements
(Dollar amounts in thousands
except assets under management
and per share data.)
                                    Three months ended     Six months ended
                                         March 31              March 31
                                   -------------------------------------------
                                         1998       1997      1998      1997
Operating revenues:

Investment management fees          $ 380,948  $ 305,586   $  757,411  $578,846
Underwriting and distribution fees    248,914    180,285      464,201   316,771
Shareholder servicing fees             39,399     28,797       77,005    53,625
Other                                   4,430      4,528        7,473     7,579
                                   -------------------------------------------
Total operating revenues              673,691    519,196    1,306,090   956,821
                                   -------------------------------------------

Operating expenses:
Underwriting and distribution         242,406    172,638      447,718   304,921
Compensation and benefits             132,744    106,783      266,035   206,354
Information systems, technology
  and occupancy                        45,862     29,395       92,458    55,199
Advertising and promotion              31,243     23,406       58,605    42,072
Amortization of deferred sales
  commissions                          26,525     11,530       50,421    22,166
Amortization of intangible assets       8,949      9,057       17,944    16,402
Other                                  22,538     22,363       42,043    40,134
                                   ---------------------------------------------
Total operating expenses              510,267    375,172      975,224   687,248
                                   ---------------------------------------------

Operating income                      163,424    144,024      330,866   269,573
                                   ---------------------------------------------
Other income (expense):
Investment and other income            11,596      6,087       26,571    25,695
Interest expense                       (3,826)    (5,756)      (9,978)  (13,929)
                                   ---------------------------------------------
Other income (expense), net             7,770        331       16,593    11,766
                                   ---------------------------------------------
Income before taxes on income         171,194    144,355      347,459   281,339
Taxes on income                        44,525     42,944       90,275    83,699
                                  ----------------------------------------------
Net income                           $126,669  $ 101,411     $257,184 $ 197,640
                                    ===========================================

Earnings per share:
Basic                              $0.50      $0.40        $1.02     $0.79
     Diluted                            $0.50      $0.40        $1.02     $0.78

Dividends per share
$0.05      $0.04        $0.10     $0.08

Average shares outstanding
  (in thousands):
Basic                            252,860    252,278      252,682   251,612
     Diluted                          253,058    253,014      253,181   252,746

Assets under management
  (in millions):
     End of period                   $241,964   $189,901     $241,964  $189,901
     Average for period
$229,409   $186,759     $225,581  $176,505

------------------------------
All prior period amounts have been restated to reflect a two-for-one stock
      split paid on January 15, 1998.
Based on simple monthly average.
Consolidated Income Statements
(Dollar amounts in thousands
except assets
under management and per share                Three months ended
data.)
                                  31-Mar-98   31-Dec-97   30-Sep-97  30-Jun-97   31-Mar-97
Operating revenues:
Investment management fees        $380,948     $376,463     $375,676    $337,966   $305,586
Underwriting and distribution
 fees                              248,914      215,287      222,597     195,744    180,285
Shareholder servicing fees          39,399       37,606       34,666      36,614     28,797
Other                                4,430        3,043          968       2,223      4,528
                                  --------------------------------------------------------------
Total operating revenues           673,691      632,399      633,907     572,547    519,196
                                  --------------------------------------------------------------
Operating expenses:
Underwriting and distribution      242,406      205,312      216,540     190,867    172,638
Compensation and benefits          132,744      133,291      125,339     115,476    106,783
Information systems and occupancy   45,862       46,596       48,720      31,474     29,395
Advertising and promotion           31,243       27,362       26,336      28,144     23,406
Amortization of deferred sales
  commissions                       26,525       23,896       18,526      18,773     11,530
Amortization of intangible assets    8,949        8,995        8,961       8,931      9,057
Other                               22,538       19,505       22,823      23,657     22,363
                                  ------------------------------------------------------------
Total operating expenses           510,267      464,957      467,245     417,322    375,172
                                  ------------------------------------------------------------
Operating income                   163,424      167,442      166,662     155,225    144,024
                                  ------------------------------------------------------------
Other income (expense):
Investment and other income         11,596       14,975       15,107       8,784      6,087
Interest expense                    (3,826)      (6,152)      (5,669)     (5,735)    (5,756)
                                  ------------------------------------------------------------
Other income (expense), net          7,770        8,823        9,438       3,049        331
                                  ------------------------------------------------------------
Income before taxes on income      171,194      176,265      176,100     158,274    144,355
Taxes on income                     44,525       45,750       50,865      47,086     42,944
                                    -----------------------------------------------------------
Net income                        $126,669     $130,515    $ 125,235   $ 111,188   $101,411
                                  =============================================================

Earnings per share:
Basic                           $0.50        $0.52        $0.50      $0.44       $0.40
     Diluted                         $0.50        $0.52        $0.50      $0.44       $0.40

Dividends per share
$0.050       $0.050       $0.045     $0.045      $0.040

Average shares outstanding
  (in thousands):
Basic                         252,860       252,692     252,112     252,186     252,278
     Diluted                       253,058       253,185     252,466     252,760     253,014

Assets under management
  (in millions):
     End of period                $241,964      $220,989    $225,952    $208,811    $189,901
     Average for period
$229,409      $220,606    $216,928    $198,174    $186,759

--------------------------
All prior period amounts have been restated to reflect a two-for-one  stock
     split paid on January 15, 1998.
Based on simple monthly average.
ASSETS UNDER MANAGEMENT

(In billions)                  31-Mar-98   31-Dec-97    30-Sep-97    30-Jun-97    31-Mar-97
------------------------------------------------------------------------------------------
Franklin Templeton Group:
    Equity:
      Global/international       $112.8     $99.2        $109.2       $99.0       $85.8
      Domestic (U.S.)              57.3      51.6          48.2        43.1        38.6
------------------------------------------------------------------------------------------
                                 $170.1     150.8         157.4       142.1       124.4
------------------------------------------------------------------------------------------

    Fixed income:
      Tax-free                     48.1      47.0          45.8        44.4        43.2
      Taxable:
         Domestic (primarily
            US Govt.)              15.7      15.5          15.1        15.1        15.4
         Global/international       4.1       3.8           4.0         3.5         3.1
------------------------------------------------------------------------------------------
                                   67.9      66.3          64.9        63.0        61.7
-----------------------------------------------------------------------------------------

    Money funds                     4.0       3.9           3.7         3.7         3.8

    ===========================================================================================
      Total Franklin
      Templeton Group            $242.0    $221.0        $226.0      $208.8      $189.9
    ===========================================================================================