SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* VENKOL TRUST (Last) (First) (Middle) C/O DELCATH SYSTEMS INC 1100 SUMMER STREET (Street) STAMFORD CT 06905 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol DELCATH SYSTEMS INC [ DCTH ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 11/10/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $0.01 par value	11/10/2004		J(1)		180,000	D	$0	892,649	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Transfer of record without consideration to a person or entity for whose benefit shares were held.

	VENKOL TRUST, By PAUL G. HUGHES, Attorney-in-Fact	11/12/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

                                POWER OF ATTORNEY

     The undersigned, a beneficial owner of more than 10% of the outstanding
shares of Common Stock, par value $0.01, of DELCATH SYSTEMS, INC., a Delaware
corporation (the "Company"), hereby constitutes and appoints Paul G. Hughes its
true and lawful attorney with full power to him, with full powers of
substitution and resubstitution, to sign for it and in its name any report that
it is required to file pursuant to Section 16 of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), with respect to its ownership of
securities of the Company and generally to do all such things in its name and on
its behalf to enable it to comply with the provisions of Section 16 of the
Exchange Act, and all requirements of the Securities and Exchange Commission,
hereby ratifying and confirming its signature as it may be signed by my attorney
or his substitute or substitutes, to a report filed under such Section 16 on its
behalf. This Power of Attorney shall remain in full force and effect until such
time as I file a new Power of Attorney with the Securities and Exchange
Commission designating one or more different attorneys for purposes of signing
on its behalf such reports under Section 16 of the Exchange Act with respect to
the securities of the Company.






                                    VENKOL TRUST



                                    By:         M. S. KOLY
                                       ----------------------------
                                                M. S. Koly

Date:  April 22, 2004