Jquery Read More trouble

I would like to thank Kokos for this code. I am unable to contact to him to get further help though. The issue I’m having is this Jquery creats the Read More for me but only hides the first paragraph of text in my div item> soon as I get to the first br> in the text it fails to hide anymore.

$(function(){ /* to make sure the script runs after page load */

$('.item').each(function(event){ /* select all divs with the item class */

	var max_length = 150; /* set the max content length before a read more link will be added */
	if($(this).html().length > max_length){ /* check for content length */
		var short_content 	= $(this).html().substr(0,max_length); /* split the content in two parts */
		var long_content	= $(this).html().substr(max_length);
					 '<a href="#" class="read_more"><br/>Read More</a>'+
					 '<span class="more_text" style="display:none;">'+long_content+'</span>'); /* Alter the html to allow the read more functionality */
		$(this).find('a.read_more').click(function(event){ /* find the a.read_more element within the new html and bind the following code to it */

			event.preventDefault(); /* prevent the a from changing the url */
			$(this).hide(); /* hide the read more button */
			$(this).parents('.item').find('.more_text').show(); /* show the .more_text span */


Well I simply increased the var max_length = 150; to 1498 and it got me through that first paragraph and now all the paragraphs are included.