content: 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) November 13,1997              
                                      
                                  
                                  
                   FRANKLIN FINANCIAL SERVICES CORPORATION        
        (Exact name of registrant as specified in its charter)
                                  
   Pennsylvania                       0-12126               23-144083 
   (State or other jurisdiction    (Commission        (IRS Employer
   of incorporation)            File Number)           Ident. No.)
                                  
                                  
  20 South Main Street, Chambersburg,PA                17201        
  (Address of principal executive office)         (Zip Code)
                                  
                                  
  Registrant's telephone number, including area code    (717) 264-6116           
           
                                 N/A                                 
   (Former name or former address, if changes since last report)
                                  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Item 5.      Other Events.
  
       The press release of Franklin Financial Services Corporation dated
  November 13,1997 and attached hereto as Exhibit 99, relates to the declaration
  of a $1.00 per share special cash dividend and to the declaration of a 3 for 2
  stock split in the form of a stock dividend, is incorporated by reference.
  
  
  Item 7.      Financial Statements and Exhibits.
  
              
      Exhibits
  
       The following exhibits are filed herewith:
  
       Number              Description                   Page Number
  
         99           Press Release, dated November 13,       3
                      1997, of Franklin Financial
                      Services Corporation
  
  
                           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 FINANCIAL SERVICES CORPORATION
  
  
                           By:                                     
                                William E. Snell, Jr., President
                                and Chief Executive Officer
  
  
  
  Dated: November 13, 1997
  
  
  
  <PAGE>
  
  News Release - November 13, 1997
  FRANKLIN FINANCIAL SERVICES CORPORATION
  Kenneth C. Ditzler (717) 261-3665
  
  
  
            Franklin Financial declares 3 for 2 Stock Split
                     and Special Cash Dividend
  
       (Chambersburg, PA) --- Franklin Financial Services Corporation, the bank
  holding company of F&M Trust Company, today announced that its board of
  directors has declared a 3 for 2 stock split in the form of a fifty percent
  (50%) stock dividend and a special cash dividend of $1.00 per share.
  
       The special cash dividend of $1.00 per share is payable on January 21,
  1998 to shareholders of record as of the close of business on January 7, 1998.
  
       The 3 for 2 stock dividend in the form of a 50% stock dividend is
  payable February 3, 1998 to shareholders of record as of the close of business
  on January 13, 1998.  Under this stock split in the form of a stock dividend,
  one additional share of Franklin Financial common stock will be issued for
  every two shares held by a shareholder on the record date. 
       
       In addition,  the board of directors has declared a $0.15 per share cash
  dividend for the first quarter of 1998, representing an increase of
  approximately 2.3% in the quarterly cash dividend on a split-adjusted basis. 
  The first quarter dividend will be payable February 27, 1998 to shareholders
  of record on February 12, 1998.
  
       "The payment of the one-time special cash dividend is made possible by
  our strong capital position and reflects our continuing commitment to
  enhancing long-term shareholder value," commented William E. Snell, Jr.,
  president and chief executive officer. "We are delighted with the stock split
  and we believe that it will be well received by our shareholders.  The stock
  split and the resulting increase in our regular quarterly cash dividend is the
  reflection of our strong financial position and the successful implementation
  of our long-term strategy of profitable growth."
  
       Franklin Financial Services Corporation is a Chambersburg, Pennsylvania
  based bank holding company with assets of approximately $351 million at
  September 30, 1997.  Its wholly-owned subsidiary, F&M Trust Company, is an
  independent community bank which operates 12 community banking offices in
  Franklin and Cumberland counties.
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text: 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) November 13,1997              
                                      
                                  
                                  
                   FRANKLIN FINANCIAL SERVICES CORPORATION        
        (Exact name of registrant as specified in its charter)
                                  
   Pennsylvania                       0-12126               23-144083 
   (State or other jurisdiction    (Commission        (IRS Employer
   of incorporation)            File Number)           Ident. No.)
                                  
                                  
  20 South Main Street, Chambersburg,PA                17201        
  (Address of principal executive office)         (Zip Code)
                                  
                                  
  Registrant's telephone number, including area code    (717) 264-6116           
           
                                 N/A                                 
   (Former name or former address, if changes since last report)
                                  
  
  Item 5.      Other Events.
  
       The press release of Franklin Financial Services Corporation dated
  November 13,1997 and attached hereto as Exhibit 99, relates to the declaration
  of a $1.00 per share special cash dividend and to the declaration of a 3 for 2
  stock split in the form of a stock dividend, is incorporated by reference.
  
  Item 7.      Financial Statements and Exhibits.
  
              
      Exhibits
  
       The following exhibits are filed herewith:
  
       Number              Description                   Page Number
  
         99           Press Release, dated November 13,       3
                      1997, of Franklin Financial
                      Services Corporation
  
                           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 FINANCIAL SERVICES CORPORATION
  
                           By:                                     
                                William E. Snell, Jr., President
                                and Chief Executive Officer
  
  Dated: November 13, 1997
  News Release - November 13, 1997
  FRANKLIN FINANCIAL SERVICES CORPORATION
  Kenneth C. Ditzler (717) 261-3665
  
            Franklin Financial declares 3 for 2 Stock Split
                     and Special Cash Dividend
  
       (Chambersburg, PA) --- Franklin Financial Services Corporation, the bank
  holding company of F&M Trust Company, today announced that its board of
  directors has declared a 3 for 2 stock split in the form of a fifty percent
  (50%) stock dividend and a special cash dividend of $1.00 per share.
  
       The special cash dividend of $1.00 per share is payable on January 21,
  1998 to shareholders of record as of the close of business on January 7, 1998.
  
       The 3 for 2 stock dividend in the form of a 50% stock dividend is
  payable February 3, 1998 to shareholders of record as of the close of business
  on January 13, 1998.  Under this stock split in the form of a stock dividend,
  one additional share of Franklin Financial common stock will be issued for
  every two shares held by a shareholder on the record date. 
       
       In addition,  the board of directors has declared a $0.15 per share cash
  dividend for the first quarter of 1998, representing an increase of
  approximately 2.3% in the quarterly cash dividend on a split-adjusted basis. 
  The first quarter dividend will be payable February 27, 1998 to shareholders
  of record on February 12, 1998.
  
       "The payment of the one-time special cash dividend is made possible by
  our strong capital position and reflects our continuing commitment to
  enhancing long-term shareholder value," commented William E. Snell, Jr.,
  president and chief executive officer. "We are delighted with the stock split
  and we believe that it will be well received by our shareholders.  The stock
  split and the resulting increase in our regular quarterly cash dividend is the
  reflection of our strong financial position and the successful implementation
  of our long-term strategy of profitable growth."
  
       Franklin Financial Services Corporation is a Chambersburg, Pennsylvania
  based bank holding company with assets of approximately $351 million at
  September 30, 1997.  Its wholly-owned subsidiary, F&M Trust Company, is an
  independent community bank which operates 12 community banking offices in
  Franklin and Cumberland counties.