N-23C-1
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION 
Washington, D.C.  20549

FORM N-23C-1

STATEMENT BY REGISTERED CLOSED-END
INVESTMENT COMPANY WITH RESPECT TO PURCHASES OF ITS OWN
SECURITIES PURSUANT TO RULE N-23C-1 DURING THE LAST CALENDAR MONTH

(See rules and instructions on back of this form.  If acknowledgment is desired, file this form with the Commission in triplicate.)

REPORT FOR CALENDAR MONTH ENDING April 2003

                                            Franklin Capital Corporation                                    
(Name of registered closed-end investment company)

Date of
Each Transaction

Identification
of Security

Number of
Shares Purchased

Price
Per
Share

Approximate Asset
Value or Approximate
Asset Coverage Per Share
at Time of Purchase

 Name of Seller
or of
Seller's Broker
April 28, 2003 Franklin Capital Corporation Common Stock

2,800

$1.25

$1.88

First New York Securities

   

 

 

 

 

   

 

 

 

 

   

 

 

 

 

   

 

 

 

 

REMARKS:  

Franklin Capital Corporation

           Name of Registrant
 

By:  /s/ Hiram M. Lazar            
         (Name)
          Chief Financial Officer  
                     (Title)

Date of Statement:   May 8, 2003

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SEC 1580 (5-97)