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Show LUCK WAS AGAINST Iffl "T""-T" ""T Love's Failure Due to His Being on Wrong Side of Market . Chicago, Jan. 2S. The Chicago Tribune Trib-une today prints the following account ac-count of the sudden closing up of the business of Sidney C. Love & (V., which. It says, turns out to be, according accord-ing to reports, due to his fatalistic tendency for the wrong side of the I stock and grain markets. "It i6 said that the young operator has lost in the last two or three years over $l.r001000. When the firm went out of business on Monday morning. It "was reported Mr. Love's previous winnings In stocks, together with his capital, were practically gone. Ho had. however, a warm friend anil staunch supporter in W. H. Moore, who guaranteed all accounts and turned turn-ed them over to Ilollister &. Babcock, a firm long friendly to Mr. Moore. No losses were sustained by any creditors credi-tors who had market or bank accounts. ac-counts. "Mr. Love- began business In 1900 with a rich clientele, the center of which was the Moore group. He made money fast and within a relatively frhort time was able to repay the loans made to him by W. II. and J. H. Moore to start him In business. As his business bus-iness prospered, he moved to New-York New-York and became a leader among the lashionable set at Newport and was not outdone by any in liberal expenditures. expendi-tures. "He was a bear on both the general stock list and on wheat. The present bull movement, begun last June, found him short of a number of stock, though his trading was general. lls was short. It is reported. Southern Pacific Pa-cific around $10S. He Is said to havo been still short tho stock at the present pres-ent price, which is around $120. Thi in only an instance of being short. '."As losses continued to go against him, Mr. Love's former friends are bald to have returned to his assljt-ance assljt-ance and backed him until the losse- rendered It advisable to close out tho business. "D. G. Reed, ono of Mr. Love's lrlends and clients, was also a bear on blocks. For three months past, he is presumed to have been on the wron'-i side of tho movement With. Mr. Love, it was a case of 'fighting' tho market all the way up. He would buy in at a loss the stocks ho had sold thort, only to put out more short lines and suffer more losses. And In bo doing do-ing he ,was not alone, for a number of well known speculators did the same thing. They evidently had longer purses, however, than Mr. Love. "James A. Patten's bull campaign In wheat is regarded in board of trado circles as at least partly responsible for Mr. Love's retirement. "It has been the gossip of the floor of the board for some time that Lovo's firm had been heavily short of wheat ever slnco Patten started his cam-lalgn. cam-lalgn. "Last week tho houee was a big buyer of wheat, supposed to be cover-leg cover-leg of a lino of shorts put out when the market was much lower. Several million bushels of May and July wheat were bought in, tho purchases being ascribed by some to D. G. Reed, the tin plate magnate who sailed for Europe a few days ago. Whether any of tho P'lrchaises of wheat were for the personal per-sonal 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 heavily heav-ily at times in corn, but it was not known that any serious losses were in-cured in-cured in this cereal. "A local rumor, In circulation yesterday, yes-terday, was to tho effect that Love hod been caught, long on a lino of Consolidated Consol-idated Gas stock previous to. the supremo su-premo court decision adverse to that company and had suffered serious lobses In tho subsequent slump in that security." ' . |