Exhibit 31.2

DUCKWALL-ALCO STORES,
INC. 
                                                   SECTION 13a-14(a)/15D-14(a)
CERTIFICATIONS

I, Richard A. Mansfield, certify
that:

|1. | I
have reviewed this quarterly report on Form 10-Q of Duckwall-ALCO Stores, Inc.;
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|2. | Based
on my  knowledge,  this  quarterly  report does not contain any untrue  statement of a
material  fact or omit to state a               material fact necessary to make the
 statements  made, in light of the  circumstances  under which such  statements  were
              made, not misleading with respect to the period covered by this quarterly
report;
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|3. | Based
on my knowledge,  the financial  statements,  and other financial  information included
in this quarterly report, fairly               present in all material respects the
financial  condition,  results of operations and cash flows of the registrant as of,
              and for, the periods presented in this quarterly report;
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|4. | The
registrants  other certifying  officers and I are responsible for  establishing and
maintaining  disclosure  controls and               procedures (as defined in Exchange
Act Rules 13a-15(e) and 15d-15(e)) for the registrant and we have:
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| | a. | designed
such disclosure  controls and procedures,  or caused such disclosure controls and
procedures to be designed under our                       supervision,  to ensure  that
 material  information  relating  to the  registrant,  including  its  consolidated
                      subsidiaries,  is made known to us by others within those entities,
 particularly during the period in which this                       quarterly report is
being prepared;
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| | b. | evaluated
 the  effectiveness  of the  registrants  disclosure  controls  and  procedures
 and  presented  in this report our                       conclusions  about the
 effectiveness  of the  disclosure  controls  and  procedures  as of the end of the
period                       covered by this report based on such evaluation and
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| | c. | Disclosed
in this report any change in the registrants  internal control over financial
 reporting that occurred                       during the registrants  most recent
fiscal that has materially  affected,  or is reasonably likely to materially
                      affect, the registrants internal control over financial
reporting; and
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|5. | The
 registrants  other  certifying  officers and I have disclosed,  based on our most
recent  evaluation of internal control               over financial  reporting,  to the
registrants  auditors and the audit committee of registrants  board of
directors (or               persons performing the equivalent function);
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| | a. | all
significant  deficiencies and material  weaknesses in the design or operation of internal
control over financial reporting                       which are  reasonably  likely to
adversely  affect the  registrants  ability to record,  process,  summarize and
                      report financial information; and
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| | b. | any
 fraud,  whether  or not  material,  that  involves  management  or other  employees  who
have a  significant  role in the                       registrants internal control
over financial reporting.
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Date:  December 9, 2004

| | /s/ Richard
      A. Mansfield
      Richard A. Mansfield
      
      Vice President, Chief Financial Officer
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