SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549



                                SCHEDULE 13G/A
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 5)


                             DANIELSON HOLDING CORP.
             ------------------------------------------------------
                                (NAME OF ISSUER)


                     COMMON STOCK, $.10 PAR VALUE PER SHARE
             ------------------------------------------------------
                         (TITLE OF CLASS OF SECURITIES)


                                    236274106
             ------------------------------------------------------
                                 (CUSIP NUMBER)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

[X]  Rule 13d-1(b)

[ ]  Rule 13d-1(c)

[ ]  Rule 13d-1(d)

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 this 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).




- --------------------------------------------------------------
  1   NAME OF REPORTING PERSONS
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

     THIRD AVENUE MANAGEMENT LLC

      (EIN 01-0690900)

- --------------------------------------------------------------
- --------------------------------------------------------------
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
       (a)  [  ]
       (b)  [  ]
- --------------------------------------------------------------
- --------------------------------------------------------------
  3   SEC USE ONLY

- --------------------------------------------------------------
- --------------------------------------------------------------
  4   CITIZENSHIP OR PLACE OF ORGANIZATION

      Delaware Limited Liability Company

----------------------------------------------------------------
----------------------------------------------------------------
                   5 SOLE VOTING POWER

                      1,316,059
   NUMBER OF     ---------------------------------------------
                 ---------------------------------------------
     SHARES        6  SHARED VOTING POWER
  BENEFICIALLY
    OWNED BY               NONE
                 ---------------------------------------------
                 ---------------------------------------------
      EACH         7  SOLE DISPOSITIVE POWER
   REPORTING
     PERSON           1,317,659
                 ---------------------------------------------
                 ---------------------------------------------
      WITH        8   SHARED DISPOSITIVE POWER

                           NONE
- --------------------------------------------------------------
- --------------------------------------------------------------
 9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
      PERSON

          1,317,659
- --------------------------------------------------------------
- --------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
      CERTAIN SHARES*
             [    ]

- --------------------------------------------------------------
- --------------------------------------------------------------
 11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

           4.3%
- --------------------------------------------------------------
- --------------------------------------------------------------
 12   TYPE OF REPORTING PERSON*

           IA
- --------------------------------------------------------------



- --------------------------------------------------------------
  1   NAME OF REPORTING PERSONS
      S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS

           MARTIN J. WHITMAN

- --------------------------------------------------------------
- --------------------------------------------------------------
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
        (a)  [  ]
        (b)  [  ]
- --------------------------------------------------------------
- --------------------------------------------------------------
  3   SEC USE ONLY

- --------------------------------------------------------------
- --------------------------------------------------------------
  4   CITIZENSHIP OR PLACE OF ORGANIZATION

        United States of America
- --------------------------------------------------------------
- --------------------------------------------------------------
                   5 SOLE VOTING POWER

   NUMBER OF               671,416
                 ---------------------------------------------
                 ---------------------------------------------
                   6 SHARED VOTING POWER
     SHARES
                           NONE
  BENEFICIALLY
    OWNED BY
                 ---------------------------------------------
                 ---------------------------------------------
      EACH         7  SOLE DISPOSITIVE POWER

   REPORTING               617,416
                 ---------------------------------------------
                 ---------------------------------------------
  PERSON WITH     8   SHARED DISPOSITIVE POWER

                           NONE
- --------------------------------------------------------------
- --------------------------------------------------------------
 9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
      PERSON

           617,416
- --------------------------------------------------------------
- --------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
      CERTAIN SHARES*
             [  ]

- --------------------------------------------------------------
- --------------------------------------------------------------
 11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

           2.2%
- --------------------------------------------------------------
- --------------------------------------------------------------
 12   TYPE OF REPORTING PERSON*

           IN
- --------------------------------------------------------------



ITEM 1.

     (A) NAME OF ISSUER:

         Danielson Holding Corporation (the "Issuer").

     (B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES OR,IF NONE, RESIDENCE:

         1701 East Market Street, Jeffersonville, IN 47130

ITEM 2.

     (A) NAME OF PERSON FILING:

         This  schedule is  being jointly  filed  by Third Avenue Management LLC
("TAM")  and  Martin  J.  Whitman,  the  Chief  Investment Officer of TAM
(TAM and Martin J. Whitman are sometimes collectively referred to hereinafter as
"Filer"). Attached  hereto  as an exhibit  is a copy of the joint Schedule 13G
filing agreement among the reporting persons.

     (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE:

         The address of the principal executive office of TAM and Mr. Whitman
is:  767 Third  Avenue, New York, New York 10017-2023.

     (C) CITIZENSHIP:

         The  citizenship  or place  of  organization  of each of the  reporting
persons is as follows:

         Third Avenue Management LLC-Delaware Limited Liability Company

         Martin J. Whitman-United States Citizen.



     (D) TITLE OF CLASS OF SECURITIES:

         Common Stock, $.10 par value per share.

     (E) CUSIP NUMBER:

         236274106


ITEM 3. IF THIS  STATEMENT  IS  BEING  FILED  PURSUANT  TO  RULES  13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON FILING IS A:

         (E) Investment  Adviser. TAM is registered under section 203 of the
Investment Advisors Act of 1940.


ITEM 4.  OWNERSHIP.

         (a) & (b) TAM beneficially owns 1,317,659 shares, or 4.3% of the
class of securities of the issuer.  Martin J. Whitman ("MJW") beneficially owns
671,416 shares, or 2.2% of the class of securities of the issuer.

         (c)    (i) TAM : 1,316,059
                    MJW :   671,416

               (ii) Not applicable.

              (iii) TAM : 1,316,659
                    MJW :   671,416

               (iv) Not applicable.

      Mr. Whitman disclaims beneficial ownership of TAM share holdings.  The
reporting entities did not and do not act in concert or as a group in acquiring,
holding or disposing of the common stock.


ITEM 5.  OWNERSHIP OF FIVE 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 five percent of the class of securities, check the following [ ].


ITEM 6.  OWNERSHIP  OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

      Third Avenue Value Fund, an investment company registered under the
Investment  Company Act of 1940, has the right to receive dividends
from, and the proceeds from the sale of 1,311,571 of the shares
reported by TAM. Various other seperately managed clients for whom TAM
acts as investment advisor have the right to receive dividends from, and
the proceeds from the sale of, the shares reported by TAM.  Martin J. Whitman
has the right to receive dividends from, and the proceeds of the sale of
671,571 of the shares reported by Martin J. Whitman.

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
        SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

         Not Applicable.

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 to 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 purposes or 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.

                              January 29, 2003
                           ---------------------------
                              (Date)




                          THIRD AVENUE MANAGEMENT LLC

                           BY:/S/ MARTIN J. WHITMAN
                              ------------------------
                              Martin J. Whitman
                              Chairman and Chief Investment Officer


                              /S/  MARTIN J. WHITMAN
                              -----------------------
                              Martin J. Whitman, President