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If companies were human beings, Simmons Co. might well jump into a comfortable Simmons Bed, bounce on a Beautyrest mattress, hide its venerable head at the memory of what it did in 1929 when there was madness in the air. During that year the company left its field of iron beds and accessories, branched into general furniture lines. Although sales increased monthly over the preceding year, most of the gains were because of new purchases. But the public overlooked this fact and the pool in Simmons headed by Chicago Bull Arthur W. Cutten put it to $188, the high whence it started the long coast to this year's low of $10 1/8. While a few canny concerns (notably United States Steel Corp.) were reducing their funded debts, Simmons issued $15,100,000 worth of 5% notes that year.

The next year showed the price of this expansion. Simmons Co. earned $1,600,000. But Simmons Co. and subsidiaries lost $1,195,550. Last week Simmons Co. started an attempt to undo 1929's folly.

One of the important buys during 1929 was Berkey & Gay, a Grand Rapids company making high class general furniture. The concern was one of the oldest in Grand Rapids and its $9,000,000-a-year sales volume made it one of the biggest. It was not operating at a profit because the furniture business then, as now, was confused and upset. Zalmon Gilbert Simmons, president of Simmons Co., planned not only to make his company potent in furniture but to bring stability and prosperity to the entire industry. In great advertisements in the Grand Rapids press he stated: "It is my desire to build this furniture business up, not down. It is my desire to see lights burning in every one of these Berkey & Gay plants at night as well as in the daytime."

Unfortunately, Mr. Simmons never had his desire satisfied. In the furniture field his company trod on many ancient toes, no stability came. Berkey & Gay refused to make money. Recently the lights had to be shut off during the daytime as well as at night. And when last week Simmons Co. reported its July sales (down 17.3% from last year) an important footnote was appended. Since Berkey & Gay no longer operates, Simmons Co. has written its entire investment off the books. The exact price of this investment has not been revealed, but in 1928 Berkey & Gay had $4,251,000 in plants and equipment alone.

Thus does Simmons Co. now advance by going backward. The company is in a strong cash position, having ended last year with $6,682,000 in the banks, none owed them, with $21,000,000 current assets against $2,228,000 current liabilities. Its beds and mattresses (Beautyrest, Deepsleep, Slumber King, Ace) are still leaders. An ace-in-the-hole which it has long threatened to play on the industry is Zalmite, a synthetic compound whose chief ingredients are said to be peanut shells, burlap & other waste materials. Zalmite was of course named for President Zalmon Gilbert Simmons. Although early in 1930 President Simmons was so shattered by the rude turn of events that a statement had to be issued that his health was ''not permanently impaired," he no longer shows any signs of suffering. He is a husky, keen-eyed man whose tanned face makes a pleasant contrast to his silvery hair. No optimist on general business, he has always had great faith in his own bedworks. Secretary, treasurer, director, member of the executive committee, vice president of the company is his son Grant G. Simmons, likewise husky & healthy, reported to have "cleaned up" on the bear side of the market. Although the company's home office is in Kenosha, Wis., father & son work in the Manhattan office.

Another son is Zalmon Gilbert Simmons Jr., once an executive in the company. In 1929 he resigned from all positions except as a member of the finance committee (formed that year, abolished the next), and last year he retired completely. Extremely hard of hearing, he is as ruddy as his brother, a jolly vivant, an expert shot. The following tale has been told. Early in 1930 when John Pope, brilliant young member of the Stock Exchange, made an exhaustive study of Simmons Co. and found its immediate prospects none too good, and when heavy sales poured into the stock, President Simmons decided to support it to the last ditch. After all his millions failed to hold it he gave up. Son "Zammie" then approached him (according to the tale) and said some thing to this effect: "Dad, I knew you were wrong in trying to hold the stock up. I hope you won't be sore when I tell you I've been selling it short the whole time and want to pay you back every cent you lost."

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