Exhibit 31.2
                       CERTIFICATIONS

I, Anna T. Chew, certify that:

  1.   I have  reviewed  this  annual  report on   Form 10-K of
     Monmouth Capital Corporation;

  2.   Based on my knowledge,  this 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 report;

  3.    Based on my knowledge,   the financial  statements,  and
     other financial information included in this 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 report;

  4.   The registrant's other certifying  officer(s)   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 have:

       (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 report is being prepared;

        (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

        (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
     quarter (the registrant's fourth fiscal quarter in the case
     of an annual report) that    has materially affected, or is
     reasonably likely to    materially affect, the registrant's
     internal control over financial reporting; and

  5.   The registrant's other certifying  officer(s)  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  the registrant's board
     of  directors  (or   persons   performing   the  equivalent
     functions):

        (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.





Date: March 12, 2004



By:  /s/ Anna T. Chew
Anna T. Chew
Chief Financial Officer