FORM 5

Filed pursuant to Section 16(a) of the Securities Exchange Act of
1934, Section 17(a) of the Public Utility Holding Company Act of
1935 or Section 30(f) of the Investment Company Act of 1940

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Check this box if no longer
subject to Section 16. Form 4 or
Form 5 obligations may continue.
See Instruction 1(b).

£

Form 3 Holdings Reported

£

Form 4 Transactions Reported

1. Name and Address of Reporting Person*

Fishburn Sibyl N.

Synalloy Corporation SYNC

6. Relationship of Reporting Person(s) to Issuer
                  (Check all applicable)

  X

Director

10% Owner

Officer (give title below)

Other (specify below)

(Last)        (First)       (Middle)
3542 Peakwood Drive, SW

4. Statement for Month/Year
December 2002

7. Individual or Joint/Group Filing (Check Applicable Line)

5. If Amendment, Date of
    Original (Month/Year)
January 6, 2003

 X

Form filed by One Reporting Person

(Street)
Roanoke, VA 24014

Form filed by More than One Reporting Person

(City)          (State)      (Zip)

Table I ¾ Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

2. Transaction Date

    (Month/Day/Year)

3. Transaction
    Code
    (Instr.8)

4. Securities Acquired (A)
    or Disposed of (D)
    (Instr. 3, 4 and 5)

5. Amount of Securities
    Beneficially Owned at
    End of Month

    (Instr. 3 and 4)

6. Ownership
    Form: Direct
    (D) or
    Indirect (I)
    (Instr. 4)

7. Nature of
    Indirect
    Beneficial
    Ownership

    (Instr. 4)

Amount

 (A) or
 (D)

Price

Common Stock

53,928

D

Common Stock

7,065

I

*Spouse

Common Stock

8,000

I

Irrevocable Trust

Common Stock

12/7/02

J

5,000

D

14,000

I

*By Trust (1)

FORM 5 (continued)

Table II ` Derivative Securities Acquired, Disposed of, or Beneficially Owned
 (e.g., puts, calls, warrants, options, convertible securities)

4. Transaction
    Code
    (Instr.8)

5. Number of
    Derivative
    Securities
    Acquired (A)
    or Disposed
    of (D)
    (Instr. 3, 4
    and 5)

6. Date Exercisable
    and Expiration Date
    (Month/Day/Year)

7. Title and Amount
    of Underlying
    Securities
    (Instr. 3 and 4)

8. Price of
    Derivative
    Security
    (Instr. 5)

9. Number of
    Derivative
    Securities
    Beneficially
    Owned at
    End of
    Year
    (Instr. 4)

(A)

(D)

Date
Exercisable

Expiration
Date

Title

Amount or
Number of
Shares

1994 Non-Employee Directors Stock Option Plan

$4.65

4/25/02

A

1,500

4/25/02

4/25/2012

Common Stock

1,500

13,500

D

*I expressly disclaim beneficial ownership of these securities and filing this report shall not be construed as an admission of my beneficial ownership thereof for purposes of Section 16 of the Securities Act, or otherwise.
(1) These shares are held in a trust for the benefit of the reporting person's children. The reporting person's husband is trustee. This automatic distribution is pursuant to the terms of the Trust Agreement.

Cheryl C. Carter

February 10, 2003

/s/ Cheryl C. Carter, Power of Attorney
for Sibyl N. Fishburn

Date

**

Intentional misstatements or omissions of facts constitute Federal Criminal Violations.

See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:

File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.