UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
   MILLER, DOUGLAS W
   BASSETT FURNITURE INDUSTRIES, INC.
   245 MAIN STREET
   P O BOX 626
   BASSETT, VA  24055
   USA
2. Issuer Name and Ticker or Trading Symbol
   BASSETT FURNITURE INDUSTRIES, INC.
   BSET
3. IRS or Social Security Number of Reporting Person (Voluntary)
   ###-##-####
4. Statement for Month/Year
   MAY 8, 1998
5. If Amendment, Date of Original (Month/Year)
   
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
   (specify below)
   VICE PRESIDENT & CFO
7. Individual or Joint/Group Filing (Check Applicable Line)
   ( ) 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 |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect | | Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership | | | | | Beneficially |(D)or | | | | | | | A/| | Owned at |Indir | | | Date |Code|V| Amount | D | Price | End of Month |ect(I)| | ___________________________________________________________________________________________________________________________________| COMMON STOCK |3-24-9|A* |V|2,275 |A | |5,969 |D | | |8 | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| *RESTRICTED UNTIL 11-07-02;| | | | | | | | | | CONTINUOUS SERVICE REQUIRE| | | | | | | | | | D THROUGH | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| 11-07-02 (OR, IF EARLIER, R| | | | | | | | | | ETIREMENT). RESTRICTIONS L| | | | | | | | | | IFTED UPON DEATH | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| OR DISABILITY. | | | | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| ___________________________________________________________________________________________________________________________________| ___________________________________________________________________________________________________________________________________ Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned | ___________________________________________________________________________________________________________________________________| 1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of| Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect | |or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial | |cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership | |Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | | |Deriva- | | | |Date |Expir| | |ficially |Ind| | |tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| | |Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | | |rity |Date |Code|V| Amount | |ble | | | |Month |(I)| | ___________________________________________________________________________________________________________________________________| *OPTION (RIGHT TO BUY)|26.25 | | | | | |1-01-|5-04-|COMMON |1000 | |1000 |D | | | | | | | | |97 |2004 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| *OPTION (RIGHT TO BUY)|22.625 | | | | | |11-07|5-06-|COMMON |1500 | |1500 |D | | | | | | | | |-97 |2007 | | | | | | | - -----------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | | | | | ___________________________________________________________________________________________________________________________________|
Explanation of Responses: *GRANTED UNDER THE 1993 LONG TERM INCENTIVE PLAN, WHICH IS A RULE 16b-3 PLAN SIGNATURE OF REPORTING PERSON DOUGLAS W MILLER DATE MAY 8, 1998