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Chris Shaffer edited this page Dec 7, 2021 · 6 revisions

Table of Contents

General Information
Rules Clarifications
Implementation Notes


  • Stock Round:
    • Sell shares, then buy
    • 50% limit in open market
    • 60% player ownership limit (There are optional 2p rules to increase this to 70%)
    • May not sell shares in corporation that has not yet operated
    • Corporations float 5-share or 10-share entities depending on game phase. This is not by president's choice.
    • Corporations float on purchase of president's certificate. Incremental capitalization.
    • IPO shares do not pay dividends. Market shares pay dividends to the corporation.
    • On the sixth share (10 share only) being sold from the IPO, the remaining shares are immediately capitalized and dumped into the market
    • Shares are always bought and sold at market price
  • Operating Round:
    • May place 1 yellow track or one upgrade

    • Corporations may place stations.

      • 5 Share corporations have their home station and a $40 station.
      • 10 Share corporations have their home station, a $40 station, and 2 $100 stations.
    • There are 3 classes of trains:

      • Passenger trains (2, 3, 4, 5, 6) may run to offboards, ports, and cities. They may run through mining towns but do not gain revenue for them. They may not run to Coal Mining Districts (CMD)
      • Freight trains (1G, 2G, 3G, 4G, 5G) may run to offboards, ports, cities, and CMDs. CMDs do not count towards their stop count. They may run to mining towns for revenue. They earn $20x their train number for revenue at CMDs
      • Doubler trains (4D) run like a 4 train but double the revenue.
    • Private companies may be bought in for 50%-150% of face value

    • Private companies only close when their ability is used - if unused they may pay dividends the entire game.

    • There are 3 types of offboards, CMDs (gray), Offboard cities (red), and ports (blue). A train route may not start and end at the same type of offboard. It can start and end at different types; "no running coal to Newcastle"

      • If a corporation has a token in the adjacent city for a port, they may run a train to the port as a free bonus stop for additional revenue.
      • If a corporation has a token in an offboard city, it may run the offboard city for double the revenue.
      • If a corporation has a token in a CMD, it may run a freight train to the CMD and get a subsidy to the corporation's treasury equal to $20 x the freight trains # (until the first 4D is purchased)
      • If a corporation runs a G train from a CMD to a Port and has a token in the Port City, the value of the Port City (including the Port bonus) is doubled.
    • Player bankruptcy is player elimination, it does not end the game (like 1846).

    • Starting in Phase 3, a corporation may convert from a 5-share to a 10-share as the first action on its operating turn, assuming it has completed one operating round. Corporation is not capitalized for the remaining shares. Mandatory conversion in Phase 5.

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