SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934

                               (Amendment No. 1*)


                                  Bel Fuse Inc.
         --------------------------------------------------------------
                                (Name of Issuer)

                          Common Stock, $.10 par value
         --------------------------------------------------------------
                         (Title of Class of Securities)


                                   077347 10 2
                     ---------------------------------------
                                 (CUSIP Number)

                                 April 30, 1998
             -------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

         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).




CUSIP NO.: 077347 10 2               13G                       Page 2 of 5 Pages

1  NAME OF REPORTING PERSON
   I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

   Denver Investment Advisors LLC
   I.R.S. Identification Number: 84-1284659
- --------------------------------------------------------------------------------

2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See  Instructions)
   (a) [ ]
   (b) [ ]
- --------------------------------------------------------------------------------

3  SEC USE ONLY
- --------------------------------------------------------------------------------

4  CITIZENSHIP OR PLACE OF ORGANIZATION

   Colorado
- --------------------------------------------------------------------------------
               5  SOLE VOTING POWER:          451,700
               -----------------------------------------------------------------
   NUMBER OF
    SHARES     6  SHARED VOTING POWER:        None
 BENEFICIALLY  -----------------------------------------------------------------
   OWNED BY
   REPORTING   7  SOLE DISPOSITIVE POWER:     522,100
    PERSON     -----------------------------------------------------------------
     WITH
               8  SHARED DISPOSITIVE POWER:   None
- --------------------------------------------------------------------------------

 9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
    PERSON

    522,100
- --------------------------------------------------------------------------------

10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
    CERTAIN SHARES
- --------------------------------------------------------------------------------

11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

    10.2%
- --------------------------------------------------------------------------------

12  TYPE OF REPORTING PERSON

    IA
- --------------------------------------------------------------------------------




CUSIP NO.: 077347 10 2                13G                      Page 3 of 5 Pages

ITEM 1.
  (a)  NAME OF ISSUER:

       Bel Fuse Inc.

  (b)  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

       198 Van Vorst Street
       Jersey City, NJ 07302

ITEM 2.
  (a)  NAME OF PERSON FILING:

       Denver Investment Advisors LLC

  (b)  ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

       1225 17th Street, 26th Floor
       Denver, Colorado 80202

  (c)  Citizenship:

       Colorado

  (d)  Title of Class of Securities:

       Common Stock, $.10 par value

  (e)  CUSIP Number:

       077347 10 2

Item 3.  If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or
         (c), check whether the person filing is a:

  (a) [ ] Broker or Dealer registered under Section 15 of the
          Act (15 U.S.C. 78o)

  (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c)

  (c) [ ] Insurance  Company as defined in section  3(a)(19) of the Act (15
          U.S.C. 78c)

  (d) [ ] Investment company registered under section 8 of
          the Investment Company Act (15 U.S.C. 80a-8)

  (e) [X] An investment adviser registered under section
          240.13d-1(b)(1)(ii)(E)




CUSIP NO.: 077347 10 2                 13G                     Page 4 of 5 Pages

  (f) [ ] An employee  benefit plan or  endowment  fund in  accordance  with
          section 240.13d-1(b)(1)(ii)(F)

  (g) [ ] A parent  holding  company or control person in accordance
          with Section 240.13d-1(b)(1)(ii)(G)

  (h) [ ] A savings  association  as defined in Section  3(b) of the Federal
          Deposit Insurance Act (12 U.S.C. 1813)

  (i) [ ] A  church  plan  that  is  excluded  from  the  definition  of  an
          investment  company under section  3(c)(14) of the Investment  Company
          Act of 1940 (15 U.S.C. 80a-3)

  (j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J)

If this statement is filed pursuant to section 240.13d-1(c) check this box [ ].

ITEM 4.  OWNERSHIP

         For Denver  Investment  Advisors LLC ("DIA"),  the following sets forth
the amount of shares  beneficially owned, the percent of class owned as of April
30,  1998,  the  number of shares to which DIA has the sole power and the shared
power to vote or to direct the vote of the  shares,  and the number of shares to
which DIA has the sole  power and the  shared  power to dispose or to direct the
disposition of the shares:

  (a)  Amount Beneficially Owned: 522,100

  (b)  Percent of Class: 10.2%

  (c) Number of shares as to which DIA has:

         (i)  Sole power to vote or to direct the vote:

              451,700

        (ii)  Shared power to vote or to direct the vote:

              None

       (iii)  Sole power to dispose or to direct the disposition of:

              522,100

        (iv)  Shared power to dispose or to direct the disposition of:

              None






CUSIP NO.: 077347 10 2           13G                 Page 5 of 5 Pages

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

         If this statement is being filed to report the fact that as of the date
hereof the reporting  person has ceased to be the beneficial  owner of more than
5% of the class of securities, check the following [ ].

ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
         ANOTHER PERSON.

        Various persons other than DIA have the right to receive or the power to
direct the receipt of  dividends  from,  or the  proceeds  from the sale of, the
common stock of the Issuer.

ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
         ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
         COMPANY.

         This item is not applicable.

ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

         This item is not applicable

ITEM 9.  NOTICE OF DISSOLUTION OF GROUP.

         This item is not applicable.

ITEM 10.  CERTIFICATION.

          By signing below the  undersigned  certifies  that, to the best of its
knowledge  and belief,  the  securities  referred to above were  acquired in the
ordinary course of business and were not acquired for the purpose of or with the
effect of changing or  influencing  the control of the issuer of the  securities
and were not acquired and are not held in connection with or as a participant in
any transaction having such purposes or effect.

                                    SIGNATURE

         After reasonable inquiry and to the best of the undersigned's knowledge
and belief,  the  undersigned  certifies that the  information set forth in this
statement is true, complete and correct.


Dated: May 7, 1998           DENVER INVESTMENT ADVISORS LLC


                             By:  /s/ Kenneth V. Penland
                                ----------------------------------- 
                                Kenneth V. Penland
                                Chairman