FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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).

(Print or Type Responses)

1. Name and Address of Reporting Person*

Bowie Gregory B.

2. Issuer Name and Tickler or Trading Symbol


Synalloy Corporation SYNC

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

 

Director

 

10% Owner

 x

Officer (give title below)

 

Other (specify below)

 Vice President, Finance

(Last)        (First)       (Middle)


PO Box 5627

3. I.R.S. Identification Number of
    Reporting Person, if an entity
    (voluntary)

4. Statement for Trade Date
10/2/2002

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

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

X 

Form filed by One Reporting Person

(Street)

Spartanburg, SC 29304

 

Form filed by More than One Reporting Person

(City)          (State)      (Zip)

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

1. Title of Security
    (Instr. 3)

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)

Code

V

Amount

 (A) or
 (D)

Price

Common Stock

10/2/2002

P

  

2,000

A

$2.15

9,100

  

I

IRA
             

3,050

  

D

  
             

1,738

  

I

401(k)
                     
                     
                     
                     
                     
                     
                     

FORM 4 (continued)

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

1. Title of
    Derivative
    Security
    (Instr. 3)

2. Conversion
    or Exercise
    Price of
    Derivative
    Security

3. Transaction
    Date

(Month/Day/Year)

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
    Month
    (Instr. 4)

10. Ownership
      Form of
      Derivative
      Securities
      Beneficially
      Owned at
      End of
      Month
      (Instr. 4)

11. Nature of
      Indirect
      Beneficial
      Ownership
      (Instr. 4)

Code

V

(A)

(D)

Date
Exercisable

Expiration
Date

Title

Amount or
Number of
Shares

Option (right to buy) 1988 Stock Option Plan

                      

45,000

D

  
                             
                             
                             
                             
                             
                             
                             
                             
                             
 

Explanation of Responses:

       
   

/s/ Gregory M. Bowie

  

October 2, 2002

  

   

**Signature of Reporting Person

Date
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

*

If the form is filed by more than one reporting person, see Instruction 4(b)(v).

**

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.