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Preparations Changing President Operation Rounds Running Trains

- Number Cards = seat no When another player have more stocks 13 rounds. In each round: A route:
- Distribute $2400 Player to left of old President if tie * Private Companies earn money - can only use a track section once
- Stock Cards, President on top * Railroads do these actions in order - can only use a circle once
- Private Companies (President decides, 60% must be sold, - must contain a token
- Stock Companies Selling Limit highest Stock Market first tie: right/top): - cannot use any sections used by another route
- Trains Cannot sell during First Stock Round - Lay one Track Each train must use a separate route.
- Tracks Cannot sell if Bank Pool holds 50% of stocks - Place one token Max no of cities on the route = Train no
Cannot sell President Certificate - Run its train Revenue = Sum of No in circles
- Distribute revenue Best route must be used
Sequence of Play - Buy new trains
* Stock Round Initial Stock Price
* 1-3 Operation Rounds Distribute Revenue
Select when buying President Certificate
* No Dividend: All revenue to company
Place Marker on PAR & Stock Market Laying Track
* Dividend: Each owned share gives 10%.
Start Capital = 10 * PAR Price Optional
Company gets 10% for each share in Bank Pool.
Stock Round Cost: $0, $80 or $120 for 1st tile
Revenue from Private Companies
Repeated turns until all Cannot lay on Gray
cannot be distributed as dividend.
players pass consecutively Stock Price Brown replaces Green
Adjust Stock Market
In a Turn a player may either: If in Initial Offering: PAR Green on/replaces Yellow
- Buy 1 Stock or If in Bank Pool: Stock Market Yellow on Light Green
- Sell many Stocks Tile must connect to Token Buy Trains
At end: Cannot lay on Private Company Must buy at least 1 Train
Priority Deal to player unless owned by Railroad Must buy all trains in order, smallest first
to the left of last Stock Market Regulations Buy from Bank at Face Value or from other players
buyer/seller Down: Each 10% sold to Bank Pool 4, 5 or 6 train gives a discount of $300 to D train
Up: No Stocks in Bank Pool or Initial Offering Train Limit:
Laying Track
when Stock Round Ends 4 (start), 3 (4 Train), 2 (5 Train)
Special Cases
First Stock Round Right: Dividend is Paid Return excess trains to bank
O O, NY & B tiles only on these cities
Players cannot sell anything Left: Dividend is Not Paid
Need not be an extension of an existing route:
Auction of Private Companies Place Marker on bottom
Corp. own C&SL: Free tile placement Stages
* Lowest Value First Only Down if <60% is sold
Corp. own D&H: Can establish free railhead 2 Train: Yellow Tiles, 4 Trains per railroad
* All must be bought NYC: Can use Yellow #57 3 Train: Can buy Private Companies,
* Player with lowest no begins Erie: Can use Green #59
Stock Limits Green Tiles, 2 Operation Rounds
* Each round a player may:
Max 5 Certificates in same Company 4 Train: 2 Trains obsolete, 3 Trains per railroad
-Buy offered Private Company
Total Max 28 (2), 20 (3), 5 Train: Brown Tiles, Private Companies Closed,
- Bid on another (+$5) Token
16 (4) ,13 (5), 11 (6) 2 Trains per railroad, 3 Operation Rounds
- Pass - Rival Railroads cannot run through city Higher revenue point on Red Cities
- City becomes base for train routes 6 Train: 3 Trains obsolete
Color Codes - First Operation: Place Token in Base City D Trains: 4 Trains obsolete
Failure to sell
Yellow: Can hold more than 5 equal - Cities with place for 2 tokens are open until both
Go again with -$5 if SVN&RR
Orange: Do not count towards Total Max are occupied by tokens from two different companies
Else Pay Revenue and new Private Companies
Brown: Can buy many - Erie can lay token in one of the cities
First Stock Round Can be sold between players at any price.
during same turn before green tiles becomes available
Can be sold to Companies from
- Can only place tokes in cities
50% to 200% of Face Value
Private Companies with Bid connected to own tokens
Only players who bid may participate Game End Forced Purchase
Highest bid is start price - Bank empty (immediately) President must pay for train if company cannot
Richest Player:
Must increase bid by +$5 - Player bankrupt (end of turn) Player Bankrupt if unable to pay
Cash + Stock Value