The Topeka state journal., 1909-01-28
ON WRONG SIDE.
Failure OF Sidney C. Love Due
to Persistency
In Bearing the Market on Grain
and Stocks.
HE LOST S1,5OO.OOO
LOST S1,5OO,OOO
In Two Or Three Years in Wall
Street Operations.
Was Short When Recent Bull
Movement Started.

| Chicago, jan 2s.-The Tribune today
prints the following account Of the
sudden closing up Of the business OF
Sidney c. Love & Co. which in saws.
Turns out to be. according to re-
ports, due to his fataIistie tendency for
the wrong side of the stock and grain
market
1T is said that the young operator
has lost in the last two or three wears
over $500, coo When the firm went ont
/ OF business II was reported Mr. Loves
previous winnings In stocks. together
with his capital. were practically gone
He mad, however, a warm friend and
stauneh supporter in W H Moore. who
guaranteed all accounts and turned
g1 IneEn over to Hollister & Babcock. a
rlrm long friendly to Mr. Moore His
losses were sustained by auy creditors
who had market or bank accounts
Mr. Love began business in 1900
Win q rlch clientele, the center of
which was the Moore group. He made
money fast and within a relatively
snort TIME was able to repay the loans
made TO him by w H and ]. H.
his business proSpered he moved to
New York and became q leader among
the fashionable set at Newport ana
was not outdone by any in liberal ex-
penditures.
He was a bear on both the general
stock list and on wheat The present
Dull movement which began last June.
Iou1d MN snort OF number of
He was short. il is reported in South
ern Pacific around los He is said TO
have been still short the stock at the
present price, which Is around I2O-
This is only an instance Of being short
As losses continued to go against
him, Mr. Loves former friends are
said to have returned to his assistance
and backed him until the losses rem
dered il advisable to close out the
business
A Bear for Three Months.
ID. G. Reid. one of Mr.. Loves friends
and clients. was also a bear on stocks.
For three months at least he is pre-
suned to have been on the wrong side
OF the movement With Mr. Love II
was case of fighting, the market all
the way up He world bIy in at a loss
the stocks he had sold short. only to
put out more short lines and suffer
more loss And in so doing he was not
alone, for a number of we'll known
spectators did the same thing They
evidently had longer purses. however.
than Mr. Love
James A Patterns bull campaign in
wheat is regarded in board Of trade
circles as at least partly responsible
for Mr. Loves retirement
1T has been the gossip on the floor
Of the board for some time that
Loves firm had been heavily short Of
wheat ever since Patten started his
Last week the house was a big
buyer of wheat, supposed to be cover
ing of line of shorts put out when
the market was much lower. Several
million bushels Of May and July
wheat were brought in. the purchases
being ascribed by some to D. q. Reid.
the tin plate magnate, who sailed for
Europe a few days ago Whether any
Of the purchases OF wheat were for
the personal account Of Sidney c.
Love was not known. but the sudden
Suspension of business by the firm led
to many SurmiSeS.
THE firm has operated quite heav-
lily at times in corn, but it was not
known that any serious losses were
incurred in this cereal
"a local rumor in circulation is to
the effect that Love had been caught
long on a line Of consolidated gas
stock previous to the supreme court
decision adverse to the company
which suffered serious losses in the
subsequent slump in that security