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                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D. C. 20549

                                  Schedule 13G

                   Under the Securities Exchange Act of 1934
                            (Amendment No. 5     )*

                           FRANKLIN ELECTRIC CO. INC.
                                  Common Stock
                                   353514102




Check the following box if a fee is being paid with their statement     . (A
fee is not required only if the filing person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of  five percent or less of such class.)
(See rule 13d-7.)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of their cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes.)









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CUSIP No. 353514102                                               PAGE 2 of  4

1.     NAME OF REPORTING PERSON
     S.S. or I.R.S. Identification No. of Above Person

         First Chicago NBD Corporation   38-1984850*
2.     CHECK THE APPROPRIATE  BOX OF A MEMBER IF A GROUP* (A)[  ] (B)[ X ]

3.     SEC USE ONLY

4.     CITIZENSHIP OR PLACE OF ORGANIZATION

       Delaware

 NUMBER OF            5. SOLE VOTING POWER

  SHARES                 503

BENEFICIALLY           6. SHARED VOTING POWER

  OWNED BY               -0-

   EACH                7. SOLE DISPOSITIVE POWER

 REPORTING               503

 PERSON WITH           8.  SHARED DISPOSITIVE POWER
                         -0-

9.      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
                         503
10.     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

11.     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                         -0-
12.     TYPE OF REPORTING PERSON*
        *Unless otherwise disclosed herein, all holdings of the Reporting Person
         are indirect through one or more subsidiaries.

     HC CO

sec 1745 (6-80)   SEE INSTRUCTION BEFORE FILLING OUT!



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                                                                   Page 3 of  4

SEC 13G

SECURITIES AND EXCHANGE COMMISSION

SCHEDULE 13G Amendment No.5

ITEM 1(a)     NAME OF ISSUER:
              Franklin Electric Company Inc.

ITEM 1(b)     ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
              400 East Spring St.
              Bluffton, Indiana 46714

ITEM 2(a)     NAME OF PERSON FILING:
              First Chicago NBD Corporation. ("FCN")

ITEM 2(b)     ADDRESS OF PRINCIPAL BUSINESS OFFICES:
              One First National Plaza
              Chicago, Illinois   60670

ITEM 2(c)     CITIZENSHIP
              Delaware

ITEM 2(d)     TITLE OF CLASS OF SECURITIES:
              Common Stock

ITEM 2(e)     CUSIP NO.:
              353514102

ITEM 3        TYPE OF PERSON FILING:
              (g) FCN is a Parent Holding Company in accordance with
                  240.13d-1(b)(ii)(g).

ITEM 4        OWNERSHIP:
              The shares listed below were held in a fiduciary capacity by one 
              or more subsidiaries of First Chicago NBD Corporation as of July
              31, 1997
              A.) Amount Beneficially owned:    503
              B.) Percent of Class:   -0-
              C.) Number of shares to which the subject Holding company has:
                  1.) Sole power to vote or direct the vote:  503
                  2.) Shared power to vote or to direct the vote: -0-
                  3.) Sole power to dispose or to direct the disposition of: 503
                  4.) Shares power to dispose or to direct the disposition 
                      of :  -0-




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                                                             Page 4 of 4


ITEM 5     OWNERSHIP OF 5 PERCENT OR LESS OF  A CLASS:
           If this statement is being filed to report the fact that as of the 
           date hereof the Reporting Person has ceased to be the beneficial 
           owner of more than 5 percent of securities, check the following[X  ].

ITEM 6     OWNERSHIP OF MORE THAN 5 PERCENT ON BEHALF OF ANOTHER PERSON:
           Not Applicable
  
ITEM 7     IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
           THE SECURITY 
           being Reported on By the Parent Holding Company: See Item 3

ITEM 8     IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
           Not Applicable

ITEM 9     NOTICE OF DISSOLUTION OF GROUP:  NOT APPLICABLE

ITEM 10    CERTIFICATION:  By signing below I certify that to the best of my
           knowledge and belief, the securities referred above were acquired 
           in the ordinary course of business and were not acquired for the
           purpose of and do not have the effect of changing or influencing 
           the control of the issuer of such securities and were not acquired 
           in connection with or as a participant in any transaction having
           such purpose of effect.

           Signature: After reasonable inquiry and to the best of my knowledge 
           and belief, I certify that the information set forth in this 
           statement is true, complete and correct.

Dated:     August 07, 1997

                                                  /s/ Daniel T. Lis
                                                  -----------------------------
                                                  Daniel T. Lis
                                                  Assistant Secretary
                                                  First Chicago NBD Corporation
                                                  (313) 225-3154