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Section 16 - Miscellaneous Points

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1800

There are two bonds, one for each company. Only the Director may buy the bond for their company. The bond pays $50 each operating round, after the privates but in operating order. The money can be split between the player and the company in any amounts. Bonds are exempt from the certificate limit.

The price for the RGS private company as published in Rail Gamer magazine is $160. Tony Leal (the designer) has advised that this should be reduced to $150, with a buy-in price of between $75 and $300.

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1812

Public companies have no fixed base stations. The are formed either by merger or conversion from Minor companies, or start in any unreserved and unconnected city space on the map.

Companies may take out loans to pay for track building, train purchases and loan interest. Minor companies may have up to two loans, Public companies may have up to five loans.

Companies may buy their own shares from the bank pool, but may not take out loans to do this.

There are always two operating rounds between stock rounds, with a merger round after each operating round once phase 3 has begun. During the merger round each eligible Minor company may convert or merge to form a Public company.

In the unlikely event that all companies are closed, there are no private companies owned by players, and no player has enough money to start a company, the game ends and all players lose.

At the end of the game share prices are adjusted left (or down) one space for each outstanding loan.

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1817

The sequence of play is a stock round, an operating round, a merger and acquisition round, an operating round and a merger and acquisition round. This sequence is repeated for the duration of the game.

A feature of this game is the ability to sell stock short, which is the practice of selling stock that is not owned, with the intention of buying the stock back at a later date. The short seller hopes to profit from a decline in the price of the stock between the sale and the repurchase, as he will pay less to buy the stock than he received on selling it.

There is no requirement to close the short position (by buying a share) during the game, but while you own a short share, it is a liability. You must pay to the bank any dividends the company pays.

The Bank of New York makes loans available to companies in $100 increments. Companies may take loans for any purpose at times specified in the stock round, operating round and the merger and acquisition round. The Bank of New York charges interest on loans. As more loans are issued, the interest rate rises.

At the end of each operating round, the next available train is exported, i.e. removed from the game. This may cause a phase change. The following special case is to be followed for exporting trains:

During the merger and acquisition rounds, the following actions may take place:

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1822

During the initial set up, the concession, minor company and private company certificates are shuffled, albeit with one default certificate ending up on top of each stack. The first three concessions, first four minor companies and first three private companies are available for bids at the start of the game. Due to this, the start of each game will offer different options.

The game ends immediately if the first stock round ends with nothing sold. Presumably nobody was keen on the mix of certificates on offer, and another game with a different set of starting certificates will most likely be started.

A player may be forced to take a loan to fund train purchases for companies of which they are directors. While they have an outstanding loan, they may not buy shares, convert a concession or place a bid. 50% interest is added to a loan when taken out, and a further 50% added at the end of each stock round that the loan remains unpaid. Any earnings gained by the player are used to pay off as much of the loan as possible.

For the Eastern and Western scenarios, the purchase of the first 7/E train signals the end of the game. The current setpair of operating rounds plus one more operating rounds are completed.

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1822+

1822+ adds five minor companies and three private companies to the standard game of 1822.

During the initial set up, the private companies are split into three groups, one for each private company bidding box. Three private companies are removed at random. Private company 19 (Avonside Engine Company) introduces a permanent L train, which has its own rules. For example, it cannot be purchased by another company, it does not count against the train limit, and does not count as a train for the purposes of mandatory train ownership.

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1822CA

During the initial set up, the concession, minor company and private company certificates are shuffled, albeit with one default certificate ending up on top of each stack. The first three concessions, first four minor companies and first three private companies are available for bids at the start of the game. Due to this, the start of each game will offer different options.

The game ends immediately if the first stock round ends with nothing sold. Presumably nobody was keen on the mix of certificates on offer, and another game with a different set of starting certificates will most likely be started.

A player may be forced to take a loan to fund train purchases for companies of which they are directors. While they have an outstanding loan, they may not buy shares, convert a concession or place a bid. 50% interest is added to a loan when taken out, and a further 50% added at the end of each stock round that the loan remains unpaid. Any earnings gained by the player are used to pay off as much of the loan as possible.

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1824

Coal Railways can be exchanged for the Director's certificate in one of the Regional Railways. Mountain Railways can be exchanged for a 10% shares in one of the Regional Railways.

After the first 2 train has been bought, at the end of that operating round and at the end of each subsequent SET of operating rounds, the bank sells one of its currently available 'norma' (non-goods) trains abroad. This train is removed from the game. This sale can trigtger a phase change. No new money comes into the game as a result of these sales.

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1825

Players can sell private companies back into the bank pool for 30 less than their purchase price.

Share price rises on payment of dividend as a proportion of the dividend to the share price, rising up to four spaces if the dividend is four or more times the share price.

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1826

Nationalisation, or forced merging of trainless companies, is a focus of strategy.

When companies fuse to form the État, it may find itself in an unfloated state unless enough shares in it have been distributed.

Bank loans are used to make up shortfalls during emergency money raising.

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1827Jr

Adds many new and interesting features. The rules should be read with care.

For tables to explain the share price movements, see http://www.fwtwr.com/18xx/rules_difference_list/1827_junior.htm.

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1829

Players may choose to close their private companies by turning them face down. They then cease to pay, and do not count towards the certificate limit, but they still count their face value at the end of the game.

Players may sell their private companies to other players.

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1829 Mainline

At the start of the game, shares are shuffled and a number dealt out to players. Further shares are purchased from the draw pile, the discard pile or the bank pool.

A company can operate if the Director's certificate has been purchased, even if it is the only share of the company in the player hands. It may also operate if three ordinary shares have been purchased.

There are no phases as such.

Bonus payments are made to the company treasury for connecting to a station for the first time.

Some stations have variable values that depend on the highest value station elsewhere on the route.

Shares may only be sold to the bank pool at the start of a stock round, not during each stock turn.

The game can end if no share certificates are bought in a complete stock round. One sequence of three operating rounds takes place and the game ends at that point.

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1830 v2

The Base Game in version 2 does not have bankruptcy. If a company cannot buy the cheapest train in the bank or bank pool, the bank provides a loan to cover the shortfall and the company goes into receivership. A company in receivership is managed by the president. The manager may not change while the company is in receivership. Dividends must be retained and used to pay off the loan, and the company's train may not be sold. The president may not sell shares in the company, although other players may do so. When the loan is repaid, the company comes out of receivership. If another player has acquired more shares in the company than the previous president, they become president at that point.

Rules for a starter game are included, intended to make it easier for new players to learn the full game. The stock market, private companies and the CPR and Erie railroads are removed from the game.

This version of 1830 includes the 1830+ map on the back of the standard map, plus a host of variants and scenarios, which are not covered here.

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1830 v3

This version of 1830 includes the 1830+ map on the back of the standard map, anticipating forthcoming variants to be published as expansions. It can be used with the components in the 1830 v3 box, but players are advised to expect a shortage of yellow tiles.

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1830 Cardgame

At the end of the game, before declaring the winner, taxes need to be paid, unless all players have the same cash and are therefore all tied for the win. The player(s) with the most cash pay 20% of their cash as taxes to the bank. The player(s) with the least pay nothing. All other players pay 10% tax.

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1830BC

A share's value depends on its terrain, not the nation (company) it belongs to. The canal network is drawn onto the board rather than laying tiles. The cards that time phases are used for both digging team (trains) and waterworks (~= station markers). There is a single rainy season (operating round) for all players, company income being determined by owner of last waterwork in an irrigation chain. Game ends when all water entering system is used (or at prior bankruptcy).

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1830Lummerland

When the 5 train is bought a gugelhupf appears in hex B5, making this village worth 10 extra for the following OR.

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1831

A large game. Dual (or more, in some special cases) track is possible, so two trains of the same company can have identical routes. All hexes cost to build on and upgrades cost half of original construction cost.

Companies can merge into a system. If both companies have the same president, it is a friendly merger, otherwise a hostile takeover. A second hostile takeover can be done for bonds. Bonds pay 10% of face value regardless of what is done with stock dividends.

Stock is divided into preferred and common shares. Preferred stock comprises 50% of the company. Stock price rises immediately when 80% is bought, and again at 90%. Par price increases after all preferred stock is bought (which floats the company) so common stock costs more to buy from the Initial offering than preferred did.

Trains come in 3 flavours, Passenger (=Station), Freight (=Yard), and Mixed.

Government intervention, caused by a random card draw, introduces a random element.

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1832

At the end of a stock round, if a company's stock is fully sold, and its price token cannot move up because it is already at the top of the market, it moves down and to the right instead.

Has 'share protection' in which the President has the option to buy shares that are sold, ostensibly to protect the price. The President gets this option whether the price is in danger of dropping or not.  Also 'share redemption' in which a company buys one of its own shares, and 'share reissue' in which the shares bought back in this way are offered for sale again.

A route can only include the West Virginia Coal Fields if the operating company has a West Virginia Coal Fields token. The company that buys the West Virginia Coal Fields gets a token at no cost. Other companies can buy a token, which counts as a yellow tile lay.

There is a 'ledge' on the stock market. Tokens trying to move downwards through this do so normally except if this would cause them to stop immediately below it, when they instead stop immediately above it. Tokens trying to move upwards through the ledge do so normally. Tokens trying to move rightwards through the ledge get diverted upwards by arrows. Tokens trying to move leftwards through the ledge do so normally.

The West Virginia Coal Fields private can be bought in phase two for from half to face value. The London Investment Company, Central Rail Road and Canal Company and Southern Bank (if in play) may not be purchased by companies.

After each stock round during phases 4 and 5 there will be a merger phase. Two 10-share companies may merge together to form a System, or one company may absorb another's assets through a takeover of the other company.

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1834

Brussels (F3) always pays double the value of the tile placed there.

During the Green phase, a company may lay a green tile directly on the map for a cost of 50, which may be entirely paid by the company President if desired.

Trains may only run from one off-board area to another if running from a southern OBH to a northern OBH. If this is done the run gains a bonus of 20.

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1835

Nationalisation of shares is possible.

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1837

Stock market is based on a hexagonal grid rather than the more common square grid.

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1837SX

Has concessions which are redeemed for the 40% certificate of a 'small' corporation.

Track building is done by building points. The number of building points required to lay a tile is a combination of the terrain type and tile type.

Viaduct tiles can only be placed in mountains or over rivers.

Tiles come with single track or double track, which determine how far a train can travel.

Corporations that connect to certain towns on the map gain Secondary Railway tokens, which provide additional income.

'Small' corporations convert to 'large' corporations when they can trace a route to a set destination.

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1838 Rheinland

Nationalisation of shares is possible.

Routes that include coal mines and/or steel mills may gain a bonus. Long distance connections between the off-board hexes in the north west and the south east, and between the north east and the south west, gain a bonus.

The last trains out are Specialisation trains, that may be attached to existing trains. If attached to a 5 or 6 train, villages are no longer counted for this train. Alternatively, the bonus for a route that contains a coal mine and a steel mill is doubled.

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1841

The 8 trains do not have to count mountain passes as stops.

It costs 50 to upgrade mountain track.

Allows trading of station markers.

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1842

The hexes of Hamburg and Harburg may be upgraded only by the HAV.

There are special bonuses (see rule 6.2.4) for connecting hexes F18, and O13.

Rule 6.2.2 'Restrictions for Coastal Towns' describes restrictions on upgrades of all towns, not just coastal ones.

If a player holds at least two shares in each of at least three companies, their certificate limit is increased by one. This increase may be anticipated in buying the second share in a company.

There are hexes on the board which are yellow but have no track. These may not be developed until the green phase, and the first tiles laid on them must be yellow.

At least one of a set of routes must include the company's starting place. Some tiles bear two values for the stations. The higher values are used if the company has a station marker on the tile.

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1844

At the end of each set of ORs, a train from the bank is 'sold abroad'. This transaction does not involve money, but does get rid of trains, including 'poisoned' ones.

The number of station markers a major company gets depends on its flotation price.

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1846

For the first operating round of the game companies run in reverse price order.

All track builds/upgrades cost $20+.

Each round, a company may lay two yellow tiles, or lay one yellow tile and upgrade one tile - which may be the tile just laid.

Tile lays and token placement can be done in any order. A token can be placed after the first tile lay, followed by a second tile lay not legal prior to the token placement.

Trains phase out rather than just dying off.

The total number of companies and trains in play depends on the number of players.

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1847

In the Expert Game, nationalisation of shares is possible.

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1847AE

Nationalisation of shares is possible.

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1848

The Bank of England is a company that issues loans and administers companies in receivership.

The game end can be triggered when the fifth company goes into receivership or when the Bank of England has issued 16 or more loans.

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1849

Has narrow-gauge track, which is cheaper to lay on mountains and counts differently when determining the length of runs.

It costs the full price to upgrade mountain track.

Allows trading of station markers

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1850

At the end of a stock round, if a company's stock is fully sold, and its price token cannot move up because it is already at the top of the market, it moves down and to the right instead.

Has 'share protection' in which the President has the option to buy shares that are sold, ostensibly to protect the price. The President gets this option whether the price is in danger of dropping or not.  Also 'share redemption' in which a company buys one of its own shares, and 'share reissue' in which the shares bought back in this way are offered for sale again.

A route can only include the Mesabi Mining Range if the operating company has a Mesabi Range token. The company that buys the Mesabi Mining Range gets a token at no cost. Other companies can buy a token, which counts as a yellow tile lay. If an eligible company has a token placed in an edge area (a red off-board area with an appropriate token space), that area couints double for that company.

There is a 'ledge' on the stock market. Tokens trying to move downwards through this do so normally except if this would cause them to stop immediately below it, when they instead stop immediately above it. Tokens trying to move upwards through the ledge do so normally. Tokens trying to move rightwards through the ledge get diverted upwards by arrows. Tokens trying to move leftwards through the ledge do so normally.

The Mississippi River Bridge Company and Mesabi Mining Company privates can be bought in phase two for from half to face value. If the Union Pacific purchases the Credit Mobilier private it can pay up to three times face value.

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1853/1853 v2

At the start of the game players make contract bids by putting up a bond. This bond is redeemed once all of the player's cities are joined by track. Building into certain hexes is worth company credits.

At the end of a stock round the holder of the Elephant may sell it to another player. At the end of a set of operating rounds the holder of the Elephant may call for one additional operating round.

There are two gauges of track/trains.

There are mail runs.

Each company has a designated territory. It may lay yellow tiles outside this territory but may not promote tiles or place tokens.

Some hexes conatin a bracketed value for a frontier post. This is paid as a subsidy to the company that lays a tile in that hex, after it has paid any required construction costs.

Where the hex grid runs to the edge of the physical board, track may placed so that it runs off the board.

A brown tile that is adjacent to a grey tile may not be promoted.

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1854

Tunnels, which are transparent and can overlie normal tiles.

Two hexes of the main map correspond to a 16-hex 'local map' on which 'local railways' operate.

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1856

Has government loans.

After the sale of a 6 train, villages may be removed, either by promoting them to cities, or by downgrading them to plain track. Double villages may be promoted but not removed.

A company can fall off the bottom of the stock market. It then ceases to exist.

The initial state of Toronto is two value 30 cities, as on the map - the tile manifest says 40 and is wrong (Bill Dixon, rgb, May '97).

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1858

In a stock turn, a player may do any number of sell actions and then may do one buy action.

Sell actions:
a) sell a share
b) exchange a private for a treasury share - must be connected and have directors permission
c) grow a company from 5-share to 10-share.

Buy actions:
a) put up a private for auction
b) buy a share
c) start a company - prior to phase 5, exchange a private for one share and buy the other, thus acquiring the Director's share (price is face value of private, rounded down), place the company‘s start token in a home hex of the private.

Many privates have two values for revenue: the first in phase 2, the second in phase 3 onwards.

Privates may build track: ignore terrain costs in home hex(es), but owner pays for other terrain and double-builds.

Track in home hexes must follow the indicated track lines on the map (as appropriate). Privates cannot upgrade tiles.

If a company has insufficient funds to lay track, the director may put in from hand to help. Rule clarification: the Director may also put in from hand for double-builds, in the same manner.

When a choice of city upgrades exist, the one with the most exits which are legal must be laid.

Private income in share companies is part of revenue. After calculating revenue (= trains + privates), divide by number of shares (and halve if splitting), round down, and pay out to shareholders; any money left over goes to company treasury.

There are three track gauges: broad, narrow, and dual. Yellow track is either broad or narrow; some green track is mixed; all brown and grey track is dual.

The token space(s) on private home-hexes are reserved for the private(s), or their owner.

Wounded trains run for half revenue. Wounded trains may be discarded in the train buying step; wounded trains in the pool go immediately out of the game; wounded trains may be bought across and do count towards train limit.

If a company is train-less, it may use emergency money raising: it may issue shares (price drops once) and/or director may put in from hand (may not sell shares).

If a public company closes (share price drops below 50) there is no compensation - it‘s trains and cash go back to the bank, but it may be re-opened later.

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1859

Tiles may be placed or upgraded and tokens placed even if the location is beyond a city fully occupied by other company tokens.

Trains may run through blocked cities by paying a fee to the company owning one of the blocking tokens.

The cost for placing tokens depends on the current phase.

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1860

Players can sell private companies back into the bank pool for 30 less than their purchase price.

Share price rises on payment of dividend as a proportion of the dividend to the share price, rising up to four spaces if the dividend is four or more times the share price.

Halts can be ignored or included in routes as the director sees fits. Halts pay the company treasury rather than adding to the dividend.

A company may not upgrade track unless the company owns a train. {Mike HUtton has confirmed that this should refer to track tiles rather than track.}

If a company price falls to zero, the company becomes bankrupt. All shares are returned to the initial offering without compensation, and are available for sale once more at the start of the following stock round, starting with the director's certificate. The company's bases remain on the board but are turned over to indicate that they restrict other companies' track development but do not prevent other companies running trains through those cities. The bankrupt company's treasury, trains and unused base tokens are kept with the company charter, available for use by the next director if it is refloated.

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1861

Public companies have no fixed base stations. The are formed either by merger or conversion from Minor companies, or start in any unreserved and unconnected city space on the map.

Companies may take out loans to pay for track building, train purchases and loan interest. Minor companies may have up to two loans, Public companies may have up to five loans. If a company is unable to pay for commitments and cannot take out enough loans to do so, it is nationalised and becomes part of the Russian State Railway.

Companies may buy their own shares from the bank pool, but may not take out loans to do this.

The Russian State Railway runs from the start of phase 4 to the end of phase 7, and runs after all other companies have operated. It always retains its revenue and will always buy the cheapest new train from the bank if possible, if it has no outstanding loans and has sufficient money in its treasury.

There are always two operating rounds between stock rounds, with a merger round after each operating round from phases 3 to 7 inclusive. During the merger round each eligible Minor company may convert or merge to form a Public company.

The end of the game is signalled by the purchase of the first 8 train. If this occurs in the first operating round of a set, complete the round and play two more operating rounds. Otherwise, complete the round, play a stock round and then play three more operating rounds.

At the end of the game share prices are adjusted left (or down) one space for each outstanding loan.

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1862EA

Players bid for the right to start companies in parliament rounds. If a successful bid does not then result in that company being floated in the next stock round, the player is fined and remaining company shares placed back into the initial offering.

Companies may merge. Companies may acquire other companies. Companies may need to be refinanced.

Companies require appropriate train permits to run the three type of trains.

When a company buys a train from the bank, the Director may choose to purchase one to three warranty cards for the train. One warranty card is removed from each train at the end of the company's operating round. At phase changes, trains that would be removed from the game but which still have warranty cards on them do not rust until the last warranty card is removed. Every A and D train is given a free warranty card when it is bought from the bank.

A company is never required to surrender trains they own in excess of the train limit if the trains are not due to rust.

Companies that do not generate enough revenue to match the current share price may execute the George Hudson manouvre. This involves increasing the dividend from the company treasury until the dividend is equal to or greater than the share price, and then paying out that revised dividend.

Companies that have operated may go into receivership if no player holds sufficient shares to be the Director.

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1865 Sardinia

Maritime Companies (private companies) are handed out at no charge at the beginning of the game, and may be given to a public company at no cost.

Stations have no values. Companies gain traffic chips by placing station markers and train points from the trains it owns. Additional traffic chips can also be gained from mines that a company has a token on. Company revenue is 10 x the total number of traffic chips and train points.

Non-players Dragons (foreign investors) take part in stock rounds, buying and selling shares according to company rankings, which are defined by specific rules. Dragons are virtually seated between each real player.

Companies may absorb other companies. Typical reasons for doing this are to consolidate your companies to run then more efficiently, freeing up certificate slots when on the certificate limit, or rescuing trainless companies.

There is a short game variant that uses only part of the map and removes various companies and trains from the game.

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1867

Minor companies have no fixed base stations. Their base token is placed in a vaid city when the minor is put up for auction.

Public companies have no fixed base stations. The are formed either by merger or conversion from Minor companies, or start in any unreserved and unconnected city space on the map.

Companies may take out loans to pay for track building, train purchases and loan interest. Minor companies may have up to two loans, Public companies may have up to five loans. If a company is unable to pay for commitments and cannot take out enough loans to do so, it is nationalised and becomes part of the Russian State Railway.

Companies may buy their own shares from the bank pool, but may not take out loans to do this.

The Canadian National Railway runs from the start of phase 4 to the end of phase 7. It has no cash or loans. Each time it operates the Canadian National Railway takes the cheapest new train from the bank (not the bank pool). It does not run trains. It starts with a token in Toronto (W) and is guaranteed a token in Montreal. When nationalising a minor company, adjust the price one space to the left and then two spaces to the left per outstanding loan.

In phase 8 (only) a company may upgrade a train, even if at the train limit. The old train counts as 50% of it face value as a discount for the new train. The new train must be from the bank and the old train goes into the bank pool.

There are always two operating rounds between stock rounds, with a merger round after each operating round from phases 3 to 7 inclusive. During the merger round each eligible Minor company may convert or merge to form a Public company.

The end of the game is signalled by the purchase of the first 8 train. Finish the current set of operating rounds, play a stock round and then play three more operating rounds.

At the end of the game share prices are adjusted left (or down) one space for each outstanding loan.

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1868

Placing or upgrading a track tile costs a company 5. A second tile may be placed or upgraded for an additional cost of 5.

When a city tile is placed or upgraded, a company may place its least expensive token there for half price at the moment.

Companies have designated starting hexes. If the city spots in the relevant location are all occupied before a company has started, it may not be started.

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1869 The Golden Spike

Three companies have bonds that can be auctioned off to players when the companies operate. The bonds may be redeemed by the players, with the redemption value increasing as the game continues, until the first 7 train is purchased, at which they become worthless.

Players may buy one share from the bank pool on a 50% margin. Before the start of the next stock round they must settle the margin by paying the remaining 50% at the current share price.

Players may own more than 60% of a company, but the shares in excess of 60% are held by the company and pay into the company treasury.

Companies own land grants, which make a payment to the company when the land grant is completed.

The number of tokens a company receives depends on the initial par value. The higher the par value, the more tokens it receives.

Company presidents may 'puff' the company's stock (increase the share value) once per operating round by paying the bank ten times the value of the difference in the share prices. For example, to 'puff' a stock price from 90 to 100, the company needs to pay 100 to the bank.

Companies may merge. The first two are forced when the first 5 train is purchased. Companies may voluntarily merge once the first 6 train is purchased, but may no longer do so once the firt 8 train is purchased. Merged companies place a D token on the stock market, indicating that the share price is double that indicated on the stock market for all purposes.

Some tiles bear plus symbols. Trains running to these tiles when the company has a token present can add 1, 2 or 3 stations to their route length.

2 trains and 3 trains can be refurbished to become 3R and 4R trains respectively. Refurbished trains have increased range and stay in service longer than the original trains. A train is refurbished  by paying 50% of the next higher train's cost to the bank.

Palace cars can be added to trains to double the revenue of one city. The price for Palace cars starts low and increases, but early adopters have to pay upgrade costs as the phases progress or lose the Palace car.

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1869 USA West

The moment a route can be traced between Omaha and Sacramento, the Central Pacific and Union Pacific railroads receive a bonus of 300.

Most railroads have specific routes that will give them a bonus if they run the entire route in an operating round.

The Great Merger takes place when a route can be traced between any Central Pacific station and any Southern Pacific station. The Central Pacific is merged with the Southern Pacific and ceases to exist as a separate entity.

Private companies, even closed ones, count towards a player's total assets at the end of the game.

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1870

At the end of a stock round, if a company's stock is fully sold, and its price token cannot move up because it is already at the top of the market, it moves down and to the right instead.

Has 'share redemption' in which a company buys one of its own shares. This share must come from the bank pool if possible, or from any player, provided that at least six shares remain in player hands and the bank pool after the redemption. A share can only be redeemed from a player with their consent.

Has 'share reissue' in which the redeemed shares are offered for sale again.

Has 'share protection' in which the President has the option to buy shares that are sold, ostensibly to protect the price. The President gets this option whether the price is in danger of dropping or not.

A company that connects to its 'destination' does a special bonus run.

There is a 'ledge' on the stock market. Tokens trying to move downwards through this do so normally except if this would cause them to stop immediately below it, when they instead stop immediately above it. Tokens trying to move upwards through the ledge do so normally. Tokens trying to move rightwards through the ledge get diverted upwards by arrows. Tokens trying to move leftwards through the ledge do so normally. {This is not as stated in the published rules, which contradict the directional arrows on the stock market. Clarification has been provided that the rules are incorrect.}

The MP or SSW may buy the Mississippi River Bridge Company private before a 3 train has been sold.

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1873

Private companies are mining companies. They work similar to 1835 style minors. They can be merged into mining share companies. Mining companies need a connection to the regular gauge "state railway" network to be effective. They own machines (in lieu of standard trains) and switchers.

Normal railway companies represent narrow gauge freight operations with standard trains and (later) passenger Diesel railcars. These railway companies are opened via concessions. The state railway is represented by the MHE. Players can own its shares, but it is run automatically.

Trains and machines don't rust, but cause increasing maintenance costs instead.

The game ends when the highest share price (1000) is reached, or after the second full set of ORs in phase 5.

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1876v2

The game starts with an STR share in the bank pool.

You can only upgrade a city tile if you have a station marker there or you are about to put a station marker there or there is no station marker there.

You can put a station marker in a place reserved for another company's station marker. When the station marker with the reserved place turns up, yours is killed.

Diesels do not count against the train limit.

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1879

There are no private companies. An initial auction starts the game, in which the President's certificate of the Northern Pacific is sold by auction.

Company start locations have no value. If a company uses its start location as part of a route, the value of the highest income town or city is doubled.

There is no trade-in price for Diesels. All Diesels cost $1,100.

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1880

Stock rounds do not occur after a set number of operating rounds. Instead, they take place when the last train of any type (other than restored 2 trains) is sold or removed from the bank.

If no train is bought in a complete operating round, all the remaining trains of the current type are discarded from the game and a stock round takes place.

Stock rounds take place immediately one of the two situations above occur. This can result in the company that purchased the last train of a type continuing operations once the stock round is completed, possibly buying further trains.

The Communist Takeover period runs from the sale of the first 4 train to the sale of the first 6 train. During this period the prices on the stock market do not change for any reason. Players may not sell shares in a company they are the Director of.

Private companies do not count towards the certificate limit.

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1891

Has government loans.

After the sale of a 6 train, villages may be removed, either by promoting them to cities, or by downgrading them to plain track. Double villages may be promoted but not removed.

A company can fall off the bottom of the stock market. It then ceases to exist.

The two 2-2 trains are placed in the bank pool at the start of the game. If using the sixth optional 2 train, this is also placed in the bank pool.

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1893

The game offers a number of variants:

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1895

The game contains obligations, which can be purchased and come with a non-active 10% share of one of the public companies. The holder of an obligation has the option to purchase the president's certificate of the corresponding public company if someone else declares they wish to buy it. When the two cities of the obligation are connected the non-active share becomes a normal share.

When a player wons 60% of a company, buying more shares requires that an additional 20% of the price be paid to the bank.

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18??

At the end of a stock round, if a company's stock is fully sold, and its price token cannot move up because it is already at the top of the market, it moves down and to the right instead.

Has 'share redemption' in which a company buys one of its own shares. This share must come from the bank pool if possible, or from any player, provided that at least six shares remain in player hands and the bank pool after the redemption. A share can only be redeemed from a player with their consent.

Has 'share reissue' in which the redeemed shares are offered for sale again.

Has 'share protection' in which the President has the option to buy shares that are sold, ostensibly to protect the price. The President gets this option whether the price is in danger of dropping or not.

A company that connects to an off-board area does a special bonus run. There are limits to the distance of the off-board area from the home station that must be observed. At the start of the game, only one company can connect to each off-board area. Once four companies have made their connection runs, a second company can connect to an off-board area.

If a company is able to make a connection run at the end of its operating turn, the president may decide to pay 100 from the treasury to immediately place a regular station marker using the destination marker. If this is done, the connection run may never be made.

There is a 'ledge' on the stock market. Tokens trying to move downwards through this do so normally except if this would cause them to stop immediately below it, when they instead stop immediately above it. Tokens trying to move upwards through the ledge do so normally. Tokens trying to move rightwards through the ledge get diverted upwards by arrows. Tokens trying to move leftwards through the ledge do so normally. {This is not as stated in the published rules, which contradict the directional arrows on the stock market. Clarification has been provided that the rules are incorrect.}

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18Africa

Of the 17 companies available, 9 are chosen at random for the game. In a 2 player game, only 7 are chosen.

At the start of the game, shares are shuffled and a number dealt out to players. Half are discarded and then auctioned to the players. Further shares are purchased from the draw pile, the discard pile or the bank pool.

A company can operate if the Director's certificate has been purchased, even if it is the only share of the company in the player hands. It may also operate if three ordinary shares have been purchased.

There are no phases as such.

Some coastal stations have variable values that depend on the highest value station elsewhere on the route.

Shares may only be sold to the bank pool at the start of a stock round, not during each stock turn.

Trade concessions are auctioned after the first pair of operating rounds. Concessions are allocated to public companies and may pay bonuses for running the relevant trade routes.

Government bonds are available as an alternative to shares or private companies. These may be bought in multiples and do not count towards the certificate limit.

The economy varies during the game depending on the number of shares and private companies in the bank pool. The game starts in Recovery.

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18AL

Each railroad has a historical objective. After placing and paying for a token in that city, the company receives $100.

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18BL

The train limit only applies to trains and rail buses (trams). Each company may always own one rail bus (tram) trailer in addition to the train limit.

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18C2C

At the end of an SR, if a company's stock is fully sold, and its price token cannot move north because it is already at the top of the market, it moves south-east instead.

Has 'share redemption' in which a company buys one of its own shares. This share must come from the bank pool if possible, or from any player, provided that at least six shares remain in player hands and the bank pool after the redemption. A share can only be redeemed from a player with their consent.

Has 'share reissue' in which the redeemed shares are offered for sale again.

A company that connects to its 'destination' does a special bonus run. A company that makes a transcontinental run gains a one-time boost on the stock market.

There is a 'ledge' on the stock market. Tokens trying to move downwards through this do so normally except if this would cause them to stop immediately below it, when they instead stop immediately above it. Tokens trying to move upwards through the ledge do so normally. Tokens trying to move rightwards through the ledge get diverted upwards by arrows. Tokens trying to move leftwards through the ledge do so normally.

Four of the companies may buy the Mississippi River Bridge Company private before a 3 train has been sold.

Privatisation of shares is possible.

Two single companies with a physical connection on the map can join to become merger companies.

The Amtrak and Conrail companies form on the purchase of the first 6 and 8 train respectively, and absorb companies that are left with no trains once the 3 trains and 4 trains have been discarded.

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18CLE

The Great Depression is simulated when the brown tiles come out in phase 5. All station values on brown tiles are lower than those on green tiles. In some cases, city spots disappear when a tile is upgraded to brown. Any token made homeless by this upgrade is returned to the company charter in the most expensive free space and may be placed once again by the company.

When the grey tiles come out in phase 8, all brown tiles are automatically upgraded to grey tiles, and brown tiles cease to be available. From this point on, green tiles may be upgraded directly to grey. Upgrading a village in this way costs a company 50; upgrading a city costs a company 100.

The Cleveland RTA (Regional Transit Authority) is a government controlled entity in the game. Stock is obtained by exchanging shares of companies that are forced to merge into the RTA. Companies must merge if they do not own a train immediately after a phase change that causes trains to rust, unless they have never operated, in which case they are exempt.

The RTA is operated under its own rules. It will be operated by the player holding the priority deal card, not by the player with the most RTA shares. This means that the RTA may be operated by different players following each stock round.

The game can end when all 9 public companies merge into the RTA. The rules do not state whether the game ends immediately this happens, or whether the current operating round is completed.

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18CZ

At the end of a set of operating rounds the train card on top of the train stack in the bank is removed from the game (it is sold to a foreign country). This is handled as if a train of each type on the train card is removed from the game and may cause trains to be scrapped.

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18EC

Knoxville is a grey town in the middle of the map that pays fixed amounts to the treasury of a company running to, from or through it.

Mail Contracts can be bought that allow a company with a train to run an additional Mail Train. The Mail Contract can be voluntary returned to the bank, but must be given up the instant that the company does not own a train. The Mail Contract does not count towards the train limit.

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18EZ

18EZ is designed to teach the 18xx game system, and comes with three levels of play. Level 1 deals purely with building railroad network and operating trains. Level 2 introduces the financial element, with the addition of the stock market, and introduces the separation of the player and the railroad as separate entities. Level 3 introduces three different types of companies (privates, minors and a merger company) that players may control.

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18FL

A company's tokens can be used as standard station markers (on cities) or as Hotels (on villages). The Key West Extension (hexes M24 and M26) is destroyed at the beginning of phase 6/3E, but may be rebuilt.

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18GA

There is an exception to the definitions of 'city' and 'village' in the glossary. It has cities which have no room for a station marker, but are cities because they count towards a train's route, unlike villages which are free.

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18GB

5-share companies may convert to 10-share companies as a stock round action. Their share price drops two spaces. They receive five times the new share price as capital and two new station
markers. The director may immediately buy a new share. The five new shares are placed in the bank pool.

Certain public companies may lay a green tile in their home hex instead of a yellow tile, even before the first 3+1 train has been bought.

If no company buys a train during an OR, one is removed from the bank at the end of that OR. The game ends if there are no trains left in the bank at the end of an OR (after removing a train, if
applicable).

When the game is set up, half the public companies are randomly chosen to be available in the first stock round. The others become available in the second stock round.

Tile lays and token placements may be done in any order.

The total number of companies and trains in play depends on the number of players.

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18GL

CONRAIL may form at the beginning of phases 10H or E, and may absorb companies left with no trains.

Bank loans are used to make up shortfalls during emergency money raising.

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18GM

There is no standard map. The game starts with a Game Maker phase, during which the map is constructed by the players.

Players may buy one share from the bank pool on a 50% margin. Before the start of the next stock round they must settle the margin by paying the remaining 50% at the current share price.

The number of tokens a company receives depends on the initial par value. The higher the par value, the more tokens it receives.

Companies may merge.

2 trains and 3 trains can be refurbished to become 3R and 4R trains respectively. Refurbished trains have increased range and stay in service longer than the original trains. A train is refurbished  by paying 50% of the next higher train's cost to the bank.

Four scenarios and various optional rules are included.

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18Ireland

Of the eleven private companies in the game, two are always in play, together with three more chosen at random from the remainder.

Of the 14 5-share companies in the game, one is always in play, while one of the remainder is chosen at random and removed from the game.

5-share companies may merge to form 10-share companies. Shareholders in the merging companies cast votes for or against the merger, with shares in the bank pool also casting votes on the basis of whether their value will increase or fall as a result of the merger. A majority vote in favour of the merger must occur for the merger to proceed.

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18Kaas

The Ruhrgebied (J18 and K19) has no value by itself, it doubles the value of all other towns on the route, but counts as a town for route length. Alternative rules for this area are that it increases the value of all other towns on the route by 20 or 30.

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18MW

After a 10 train has been sold, a player may merge a trainless and underfunded company with another company of which he is also President.

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18Neb

The initial stock round does not end on a set of consecutive passes while private companies remain unsold. Instead, any private company without a bid is reduced in price by $10 and the round continues. Once all private companies have been purchases the priority order for the rest of the stock round is reviewed, with the player holding the most cash going first, followed by the other players in descending order of cash-in-hand.

The operating order in the first operating round is the reverse of the usual order, in that the lowest priced company operates first, followed by the others in ascending order of price.

A company that requires a train may ask for Presidential assistance to buy a train even if the bank holds another train that it could afford. The President can always provide assistance (from cash-in-hand only) to purchase a train from another company that they control.

Local Companies become available part-way through the game, and may only own one rusted train, which is a permanent train for this type of company.

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18NK

At the end of a stock round, if a company's stock is fully sold, and its price token cannot move up because it is already at the top of the market, it moves down and to the right instead.

Has 'share redemption' in which a company buys one of its own shares. This share must come from the bank pool if possible, or from any player, provided that at least six shares remain in player hands and the bank pool after the redemption. A share can only be redeemed from a player with their consent.

Has 'share protection' in which the President has the option to buy shares that are sold, ostensibly to protect the price. The President gets this option whether the price is in danger of dropping or not.

A company that connects to its 'destination' does a special bonus run.

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18NW

During set up, one of three private companies from group 3 (3 privates) is chosen at random, one from group 5 (3 privates) and one from group 7 (5 privates). There will therefore be seven of the 15 private companies in each game.

Private company certificates do not count towards the certificate limit.

The North American Bank is a publicly traded 10-share company which pays dividends based on the current game phase, plus the sum of all city values of companies that are in receivership.

If a company's share price moves into the left-most column of the stock market, the company's assets immediately become the property of the North American Bank. Companies in receivership may be relaunched in subsequent stock rounds.

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18NY

Once all private companies have been sold, only D&H shares may be bought. The remaining shares companies (except for the NYC) become available from the second stock round.

When a company runs a train to a station hosting a coal or connection bonus token, those tokens are claimed by the company and continure to contribute to the company's revenue during future rounds.

An NYC Formation Round takes place before the next Stock Round when the first 12H train is purchased, or albany and Buffalo are connected by track (ignoring tokens). The NYC is formed during this round from one or more minor companies. A second and final NYC Formation Round takes place before the following stock round during which in any remaining minor companies may merge with the NYC or close.

A Capitalisation Round takes place before the next Stock Round when the last 12H train is purchased. During this round companies may sell treasury shares (confusing referred to as IPO shares in the rules) to raise capital.

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18OE

There are five types of companies in the game - Private, Minor, Regional, Major, and National. Players start by purchasing or floating the first three types. Major companies are floated by expanding a Regional company. National companies are formed by conversion of Major companies.

Tiles are laid using tile points, allowing a number of tiles to be laid or upgraded in a single operating turn. Minor and Regional companies receive 3 tile points per operating round, while Regional and National companies receive 6 and 9 tile points respectively.

Every company acquires track rights during the game, which gives them the right to lay or upgrade tiles in their respective track rights zones.

17 of the 45 Patronage tiles are randomly drawn at the start of the game. These tiles respresent cities on the map that will make a one-time cash payment to the company that lays the first tile in those cities.

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18PA

Companies other than the NYC start as 5-shares companies and convert to 10-share companies during the game. The NYC is formed from the first three private companies when phase 4 is triggered. Players can go into debt to fund train purchases rather than going bankrupt.

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18Rhl Rhineland

Routes that include coal mines and/or steel mills may gain a bonus. Long distance connections between the off-board hexes in the north west and the south east, and between the north east and the west, gain a bonus.

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18Ruhr

Of the 18 private Montan Companies (pMCs) in the game, 8 will be active with the remaining 10 being passive. The selection of which are active and which are passive depends on the chosen scenario. There are five different scenarios to choose from.

Private Montan Companies and Montan Corporations doe not build rail networks; they only build at their location. They can invest in technical developments. The larger and more advanced a Montan Company is, the more revenue it generates.

Bankruptcy causes a player to leave the game.

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18SA

The President's certificates start out at 30%, but may later be split into a 20% President's certificate and a standard 10% certificate.

Station tokens may represent passenger or freight stations. The type chosen affects the ability of trains to run to or through cities.

Companies may purchase Mine tokens to give them the ability to run freight trains to mines.

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18Scan

Minor companies have destinations and perform bonus runs and may place destination tokens when connected.

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18SS

There is no certificate limit, and share prices do not fall due to share sales. There are no par prices. Shares are always traded at the current share price.

The game is limited to 5 stock rounds. After that, operating rounds run continuously until the bank breaks.

Rusted trains are not removed from companies at the point they rust. They linger until just before the company's next train buying step.

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18SY Generalisation

Companies that use villages and cities with mining marks receive surplus soil markers. When laying a tile on an ocean hex, returning a surplus soil marker makes the tile lay free.

Just before the tle laying step, companies may purchase one surplus soil marker from another company for an agreed price, with a minimum of 1. A company that has two or more surplus soil markers cannot refuse to sell at the buyer's chosen price.

Four optional rules are included:

a) Bonus token - when a company is fully sold out, remove the company token from the par value display and give it to the company as an additional station token.
b) JNR (Japanese National Railway) - when a company is unable to buy a train using the president's cash, the JNR is established from the Sanyo Railway and the company unable to purchase the train.
c) Railroad re-laying - Once per game, each company may replace one yellow tile with another.
d) SS (Sanyo Shinkansen) train - SS trains become available as soon as the first 9W train is purchased. SS trains have no limit on their run, and quadruple the value of each value 60 city they run to. They may not enter villages, or any city worth less than 50. If a company with this train has no tokens in a value 60 city, it may operate as if there were a token in Shimonoseki. However, when doing this, the revenue is reduced by 120 as a 'garage usage fee'.

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18SY Original

There is no certificate limit or train limit. Players may hold 70% or more of a company, but can only earn up to 60% of dividends.

Companies with 5 or fewer shares purchased may be started at the end of a stock round if the president wants to do so. If they choose to do this, the company receives funding for the shares that have been sold, with the balance of initial funding withheld until all shares have been purchased.

A company with no shares in the bank may place a bonus token for free. Bonus tokens do not reserve station spaces, so may be placed in occupied cities.

Companies that use villages and cities with mining marks receive surplus soil markers. When laying a tile on an ocean hex, returning a surplus soil marker makes the tile lay free.

Just before the tle laying step, companies may purchase one surplus soil marker from another company for an agreed price, with a minimum of 1. A company that has two or more surplus soil markers cannot refuse to sell at the buyer's chosen price.

JNR (Japanese National Railway) - companies that have a bonus token on the map can declare that they are merging with the JNR just before the train purchase step. If the JNR does not exist, the JNR is established from the Sanyo Railway and the company wishing to merge.

Two optional rules are included:

a) Railroad re-laying - Once per game, each company may replace one yellow tile with another.
b) SS (Sanyo Shinkansen) train - SS trains become available as soon as the first 9W train is purchased. SS trains have no limit on their run, and quadruple the value of each value 60 city they run to. They may not enter villages, or any city worth less than 50. If a company with this train has no tokens in a value 60 city, it may operate as if there were a token in Shimonoseki. However, when doing this, the revenue is reduced by 120 as a 'garage usage fee'.

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18TN

Companies may buy one private company from one player at face value in the game's first operating round.

When the fourth (of five) 3 train is purchased, the American Civil War is triggered. In the next operating round, each company loses the income from one of its trains. If a company only owns one train, the company price does not fall due to its failure to pay dividends in this round.

When the second (last) 6 train is purchased, 4 trains in the bank pool are removed from play while 4 trains in company hands are desginated as obsolete. Each obsolete train remains in play until after the next time the company runs its trains, when it is removed from play.

Three optional rules are included:

a) Allow each company the option to lay three yellow tiles on its first operating turn.
b) Allow a company to purchase a private company from a player any time durig phase 2, from $1 to face value.
c) When 3 trains are removed from play, the owning company immediately received a salvage value of $30 per 3 train.

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18US

The game starts with the sale of the Eastern Concessions and 4-share Eastern companies. The 4-share companies convert to 5-share companies when they connect to a Gateway city, and may optionally convert to 10-share companies after the Western Railroad Convention.

Western Concessions are sold during the Western Railroad Convention. Once the Pacific Railway Act concession has been bought, 5-share Land Grant companies come into play, converting to 10-share companies when they complete their Land Grants. When this conversion takes place the shareholders receive a special Golden Spike bonus.

Once the first 4E or 3G train has been bought, pairs of connected 10-share companies can be combined to form 20-share Systems. A System may never sell its last permanent train.

Plain yellow track tiles upgrade to villages (junction towns). This can only be done if the company has a spare token to place on the upgraded tile.

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18USA

The sequence of play is a stock round, an operating round, a merger and acquisition round, an operating round and a merger and acquisition round. This sequence is repeated for the duration of the game.

A feature of this game is the ability to sell stock short, which is the practice of selling stock that is not owned, with the intention of buying the stock back at a later date. The short seller hopes to profit from a decline in the price of the stock between the sale and the repurchase, as he will pay less to buy the stock than he received on selling it.

There is no requirement to close the short position (by buying a share) during the game, but while you own a short share, it is a liability. You must pay to the bank any dividends the company pays.

The Bank of New York makes loans available to companies in $100 increments. Companies may take loans for any purpose at times specified in the stock round, operating round and the merger and acquisition round. The Bank of New York charges interest on loans. As more loans are issued, the interest rate rises.

At the end of each operating round, the next available train is exported, i.e. removed from the game. This may cause a phase change. The following special cases are to be followed for exporting trains:

During the merger and acquisition rounds, the following actions may take place:

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18VA

The private companies only die when their power is exercised. If their power is not exercised, they last for ever.

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18West

The Union Pacific starts the game as an operating public company with two 2 trains and , in the v2.3 retuned rules, a doubling token in northern San Francisco (Oakland). Until a player becomes President of the UP it runs on autopilot following the rules in section 6.3.3.

A public company started during a stock round may buy a train from the bank at the end of that stock round if it has the required funds in its treasury. Initially this will be the DRG and the GN. Later on it may be Land Grant companies started after phase 5 has begun. The v2.3 retuned rules change this so that the DRG and GN, and any public company started after phase 5 begins, now buy their initial train during the operating round, after all the Granger Roads have operated but before any other company.

If it is phase 4 or later and a company has completed at least one complete operating round, the company may issue one or more treasury shares to the bank pool and receive the current market value from the bank. The stock market token moves one space to the left when this is done.

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Crisis

No distinction between 'operating rounds' and 'share dealing rounds'. Companies trade in and can be forced to purchase shares. Shareholders can be forced to support companies in receivership. The tiles are square. Too many others to list.

 

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Poseidon

As this game is set in Greece in 1800 BC, some of the terminology is different from the usual 18xx game. For example, Director's/Presidents certificates are called King's cards, ordinary shares are presented by merchant tokens, station markers are replaced by trading posts, and trains become ships. Please bear this in mind when reviewing the game's entries on this list.

Income from Special cards (private companies) varies according to the phase of the game.

When a player buys a nation's King's card, they choose how many merchants to add to the merchant pool (bank pool), thereby determining how many 'shares' the company has. Additional merchants can be added to the pool when the first 4 and 6 ship are sold.

If a player holds more merchants than the current holder of the King's card for a nation, he may take it over, but is not required to do so.

At the beginning of each empire (operating) round, each nations' King can take money from that nation's coffers (treasury) and add it to his personal cash. The amount that can be taken depends on the phase.

A nation is not required to send out its ship (run its train). If it does not do so it gains a fixed amount, depending on the phase, which goes into its coffers (treasury).

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Railroad Barons

Railroad Barons is a card game without a board or tiles.

The holding companies have tokens, which are used to determine the actions available to the holding company in each operating round.

Trains are represented by railroad corporations that are bought by the holding companies.

At the end of each pair of operating rounds, the next railroad corporation in the bank is removed from the game, which may trigger a phase change. If a category D railroad is removed, it is treated as if it was a level 3 railroad, and therefore will not trigger rusting of level 2 railroads.

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Rolling Stock

Rolling Stock is a pure card game without a board, tiles, tokens, or trains.

The role of trains is partially taken over by the (many) private companies that enter play throughout the game via auctions. Share companies (called corporations) are launched by converting a private company. They can then buy (and sell) more private companies as subsidiaries. They have to retain one subsidiary company at all times. Companies that are subsidiaries of the same corporation can create synergy bonusses with each other. Old companies cause increasing cost of ownership over time. A corporation can go bankrupt because of that (but players never do).

A foreign investor serves as a dummy player and deals with companies not bought by the players.

Share trading has almost no limits, but share prices are adjusted upon each transaction, and players earn/pay the new share price. Share prices are not directly influenced by paying dividends or
withholding, but they are adjusted based on the book value of the corporation compared to its market capitalisation (i.e. share prices gravitate towards their true value).

Share prices are unique, and leapfrogging is applied so that surprising jumps might happen if corporations occupy adjacent share prices.

Shares don't have a fixed percentage, e.g. a share in a 3-share corporation is implicitly a 33% share. If that corporation issues another share, all shares become diluted to 25% shares. President's
shares are normal shares (not double).

The game ends a full turn after all private companies have been auctioned off, or once the highest share price (100) is reached.

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Mail me © Keith Thomasson January 4th 2019