Walter S. Franklin (died August 17, 1972) was an American railroad executive. He served as president of the Pennsylvania Railroad from 1949 to 1954.

Walter Sidmonds Franklin III^{[citation needed]} was born in Ashland, Maryland.^[1] He graduated from Harvard University in 1906.^[2]

In 1906, Franklin began work at Pennsylvania Railroad as a clerk. In 1933, he became vice president in charge of traffic. In 1937, he was elected to the board of directors.^[3][4] He later worked at freight offices in Baltimore, York, Toronto, Pittsburgh and Atlanta.^[3] He served as president of the Detroit, Toledo and Ironton Railroad from 1929 to 1931, president of Wabash Railroad and Ann Arbor Railroad from 1931 to 1933.^[3][4] He was president of Long Island Rail Road from 1950 to 1955.^[3][4]

Franklin served in the U.S. Army during the Mexican board troubles.^[2] During World War I, Franklin directed the movement of troops and supplies through England.^[5] He received the Distinguished Service Order, Legion of Honour and the Distinguished Service Medal for his service during World War I.^[3] He helped establish the Port of Philadelphia and a multi-million dollar pier at Greenwich Point in Philadelphia.^[2]

In 1938, Franklin returned to Pennsylvania and became director.^[3] During World War II, he was advisor to the Secretary of Navy.^[3] He was appointed executive vice president of Pennsylvania Railroad in 1947. He served as president of the Pennsylvania Railroad from June 16, 1949, to May 31, 1954. He continued as a director until 1959.^[3][1][4] He was president of the American Trading Company of New York City, an import-export firm, for ten years.^[5][4]

Franklin had a daughter and son, Mrs. Casper W. Morris and William B.^[3][2] He lived at 45 West Old Gulph Road in Ardmore, Pennsylvania.^[5][2]

Franklin died on August 17, 1972, aged 88, in Northeast Harbor, Maine.^[3][2]

Franklin received an honorary degree from the University of Pennsylvania.^[2]

• List of railroad executives