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.