18GB Quick Reference Station Markers
- All station markers cost 50 (except the
Setup
- # of Companies and Private Railways
in play depends on # of players
Simultaneous auction
- Players may only pass if they have a
winning bid OR all items have a bid
- Player order for SR1 determined by
least cash remaining
Private railways
- Until Blue Phase, a Private Railway
blocks tile lays unless closed
- Owner may close it any time after SR1
- From Blue Phase, it closes when a tile
is laid in its hex
- May grant special ability any time
after it is closed
- Yields extra income on closure
Public companies
- Companies begin game with five
shares and 5 x initial share price
- May convert to ten shares during
subsequent SRs or Emergency Money
Raising.
- Conversion drops price 2 spaces and
gives 5 x new price cash; director may
buy one share
- Ten-share companies get extra Station
Markers
- Non-started companies have 10 shares
from start of Brown Phase
- Companies start when 40% sold
(Yellow Phase) or 60% sold (Green,
Blue & Brown Phases)
- Non-started companies removed in
Grey Phase; each removes a grey train
Share dealing
- In SR1, only first tier available
- Players may only buy 60% from IPO;
unlimited from Open Market or
orange zone
- Shares in Companies with no trains
sell for half price
- May sell Director’s Certificate to
Open Market.
- No limit to shares in Open Market
- Player order determined by order of
passing. Players may re-enter SR after
a pass, giving up place in pass order
home base and the CR’s first marker)
- NBR, LYR & MSLR have 3 markers;
others 4.
Building track
- Companies may lay or upgrade two
tiles, provided not both cities
- Must always be able to trace route on
new track (“restrictive”)
- Costs 50 to build track into a hill
Running trains
- m+n trains run up n towns in addition
to normal m stops
- nX trains ignore towns and add
distance from start to finish
- E-W and N-S bonuses may be
connected by multiple trains
- Half dividends are not allowed
- Shares in Initial Offering pay
dividends to the company.
Share prices
- Price drops for each share sold
- In Grey Phase, sales by non-directors
do not affect share price
- No hike for sold-out companies
- Up to 4 multi-jumps for dividends
- Income does not have to match current
price for increase
Train purchases
- Companies may not sell their last
train, unless the buyer has no train
- Trains may be sold for up to double
their face value (only)
- Players may not contribute funds
- nX trains available after 1st (n-1)X
- Train removed at end of OR if none
sold during OR.
Insolvency
- Companies without a train become
Insolvent. (If No Director, this
happens at start of its turn)
- Insolvent Companies may not lay
track or Station Markers; they lease a
notional train
Game rounds
- 2 OR’s between each SR
- Game ends when a Company’s Share
Price reaches the top, or when all
trains sold/removed
- Bank has unlimited cash
18GB Strategy Guide

Private Railways are generally worth face value or a little more. The London and
Birmingham is probably worth more. The Great Northern probably has the best ability
(the station marker in York).

Early income is important; buy enough shares.

You do not have to start a company in the first Stock Round if there are enough shares in
other companies to invest in.

There are no tight curve yellow tiles for OO and XX cities; plan routes accordingly.

Stock jumps are determined by income, not payment per share. At the end of the game,
this means a ten-share company paying 40/share on an income of 400 will jump further
than a five-share company paying 40/share on an income of 200.

The N-S and E-W bonuses don’t have to be claimed by a single train; interconnecting
trains count.

Tokens in York, Preston, Carlisle and Newcastle control the main north-south routes,
which are the highest payers at the end of the game.

Note that the GN and MC Private Railways can “parachute” markers into York and
Carlisle, and have spaces received in those cities.

It is common for some companies to have no trains after the first 6X train is purchased or
removed.

The highest-paying companies at the end of the game are often those with two permanent
trains.

Train shuffling is more restricted than in most 18xx games; you need to plan accordingly.