SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C. 20549



                                 SCHEDULE 13G/A
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                (AMENDMENT NO. 9)


                                CAPITAL SOUTHWEST
             ------------------------------------------------------
                                (NAME OF ISSUER)


                     COMMON STOCK, $1.00 PAR VALUE PER SHARE
             ------------------------------------------------------
                         (TITLE OF CLASS OF SECURITIES)


                                    140501107
             ------------------------------------------------------
                                 (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

                           340,228
   NUMBER OF     ---------------------------------------------
                 ---------------------------------------------
     SHARES        6  SHARED VOTING POWER
  BENEFICIALLY
    OWNED BY               NONE
                 ---------------------------------------------
                 ---------------------------------------------
      EACH         7  SOLE DISPOSITIVE POWER
   REPORTING
     PERSON                348,548
                 ---------------------------------------------
                 ---------------------------------------------
      WITH        8   SHARED DISPOSITIVE POWER

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

           348,548
- - --------------------------------------------------------------
- - --------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
      CERTAIN SHARES*
             [    ]

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

           9.0%
- - --------------------------------------------------------------
- - --------------------------------------------------------------
 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

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

   NUMBER OF               24,244
                 ---------------------------------------------
                 ---------------------------------------------
                   6 SHARED VOTING POWER
     SHARES
                           NONE
  BENEFICIALLY
    OWNED BY
                 ---------------------------------------------
                 ---------------------------------------------
      EACH         7  SOLE DISPOSITIVE POWER

   REPORTING               24,244
                 ---------------------------------------------
                 ---------------------------------------------
  PERSON WITH     8   SHARED DISPOSITIVE POWER

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

           24,244
- - --------------------------------------------------------------
- - --------------------------------------------------------------
 10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
      CERTAIN SHARES*
             [  ]

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

           0.6%
- - --------------------------------------------------------------
- - --------------------------------------------------------------
 12   TYPE OF REPORTING PERSON*

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



ITEM 1.

     (A) NAME OF ISSUER:

         Capital Southwest (the "Issuer").

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

         12900 Preston Road, Suite 700, Dallas, TX 75230

ITEM 2.

     (A) NAME OF PERSON FILING:

         This  schedule  is  being  jointly  filed  by Third Avenue Management
("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:
     622  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, $1.00 par value per share.

     (E) CUSIP NUMBER:

         140501107

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 348,548 shares or 9.0% of the
class of securities of the issuer.  Martin J. Whitman ("MJW")
beneficially owns 24,244 shares or 0.6% of the class of securities of
the issuer.

         (c)    (i) TAM: 340,228
                    MJW:  24,244

               (ii) Not applicable.

              (iii) TAM: 348,548
                    MJW:  24,244

               (iv) Not applicable.


ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

         Not applicable.


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, 83,370 of the shares reported by TAM, Third Avenue
Value Portfolio of the AEGON/Transamerica Series, 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 30,941 of the shares reported
by TAM, Third Avenue Value Portfolio of the Touchstone Variable Series Trust, 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 9,500 of
the shares reported by TAM, and various separately managed clients for whom TAM
acts as investment advisor have the right to receive dividends from, and the
proceeds of the sale of 200,493 of the shares reported by TAM.


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.

                              February 9, 2004
                           ---------------------------
                              (Date)




                           THIRD AVENUE MANAGEMENT LLC

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


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








                                                     Exhibit 1



                             JOINT FILING AGREEMENT

     In  accordance  with Rule 13d-1 (f) under the  Securities  Exchange  Act of
1934,  as amended,  the  undersigned  hereby  agree to the joint filing with all
other Reporting Entities (as such term is defined in the Schedule 13G) on behalf
of each of them of a statement on Schedule 13G  (including  amendments  thereto)
with respect to the Common Stock,  $1.00 par value per share,  of Capital
Southwest, and that this  Agreement be included as an Exhibit to such joint
filing. This Agreement may be executed in any number of counterparts  all of
which taken together shall constitute one and the same instrument.

     IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this 9th
day of February, 2004.

                                      THIRD AVENUE MANAGEMENT LLC

                                      By:/s/ MARTIN J. WHITMAN
                                      --------------------------
                                             Martin J. Whitman
                                      Chairman and Co-Chief Investment Officer


                                        /s/   MARTIN J. WHITMAN
                                      --------------------------
                                              Martin J. Whitman