Modern syphons have the ability to work like this to save water.
They do it by having a plug which can be removed for water saving mode. Unfortunately older wc pans are designed and need to use more water.
When the plug is removed or falls off, air is introduced into the syphon before the syphoning is complete thereby ending the syphonage process early during a flush.
Look for a hole on the side of the syphon. If you cant replace the missing plug then I can tell you that I have sometimes made a plug using a 10p coin, some silicone sealant and a bit of sticky tape to hold the coin in place until the sealant sets.
If all else fails you may need a new syphon. In this case invest in a modern type which can have its internal parts replaced without having to remove the cistern.
Some really old syphonic toilets have ceramic syphons and extension pieces that can make replacement a bit of a nightmare.
Slugbabydotcom
November 2007