SECURITIES AND EXCHANGE COMMISSION
                                 Washington, DC

                                   Form 10-QSB/A

                  Quarterly Report under Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

         For the quarter ended March 31, 1998 Commission File No. 0-774
                              DANIEL GREEN COMPANY
             (Exact name of registrant as specified in its charter)

     MASSACHUSETTS                                          15-0327010
(State or other jurisdiction of                (IRS Employer Identification No.)
incorporation or organization)

     DOLGEVILLE, NEW YORK                                     13329
(Address of principal executive offices)                    (Zip Code)

       Registrant's telephone number, including area code: (315) 429-3131

Former  name,  former  address and former  fiscal  year,  if changed  since last
report: None.

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Act of 1934 during the preceding twelve months and (2)
has been subject to the filing requirements for at least the past
90 days.                   YES  X    NO

         CLASS                                   OUTSTANDING AT MARCH 31, 1998

Common Stock $2.50 par value                                 1,698,329




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                              DANIEL GREEN COMPANY

                                     INDEX
                                                                            Page
                                                                          Number

Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . .              1

1. Amendment to Part I - Financial Information, Item 1. . . . .              2

   Statements of Cash Flows for the three months ended
          March 31, 1998 and March 31, 1997   . . . . . . . . .              3


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         1. Amendment to Part I - Financial Information, Item 1

         The  Statements of Cash Flows for the three months ended March 31, 1998
and March 31, 1997 is amended in its entirety to read as set forth below.















                                      -2-
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                              DANIEL GREEN COMPANY
                            Statements of Cash Flows
                                                    (Unaudited)
                                                      For the Three Months Ended
                                                         March 31      March 31
                                                          1998           1997
                                                       ----------     ---------
Operating Activities:
 Net Loss                                            $   (702,409)   $ (436,246)
  Adjustments to reconcile net loss to net
 cash provided by (used in) operating
 activities:
  Depreciation                                             65,876        87,624
  Amortization                                                  0         6,134
Changes in assets & liabilities:
 (increases) decreases in:
  Accounts Receivable, trade                            2,311,132     2,519,707
  Income Tax Refund Receivable                           (430,897)     (268,437)
  Inventories                                             157,660    (1,549,638)
  Other Current Assets                                     65,656         3,727
  Other Assets                                             92,470        (4,966)
 increases (decreases) in:
  Accounts Payable, trade                                 183,954       264,273
  Accrued Salaries                                        (68,671)     (136,956)
  Income Taxes Payable                                   (421,389)            0
  Deferred tax liability                                        0      (258,193)
  Other Accrued Liabilities                              (222,719)      216,970
                                                       ----------     ---------
Net Cash Provided by Operating Activities               1,030,663       444,000
Investing Activities:
 Purchase of property & equipment                         (25,710)       (2,841)
                                                       ----------     ---------
Net Cash Used in Investing Activities                     (25,710)       (2,841)
Financing Activities:
 Net  Payments
         on Line of Credit                             (1,760,195)     (237,839)
 Repayments of Notes Payable                             (140,238)     (195,513)
                                                                0        (8,507)
Net Cash Used in Financing Activities                  (1,900,433)     (441,908)
Net Decrease in Cash                                     (895,480)         (749)
Cash at Beginning of Period    $901,875                    94,875        13,213
                                                       ----------     ---------
Cash at End of Period                                     $ 6,395      $ 12,464
                                                       ==========     =========
See notes to financial statements.



                                      -3-

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         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto, duly authorized.


                                                   DANIEL GREEN COMPANY
                                                        Registrant



Date: June 30, 1998                                /s/ Stanley W. Kabot
                                                   Stanley W. Kabot
                                                   Chief Financial Officer,
                                                   Treasurer