1828 English Rules

PE
TY
TO
O
PR

English Rules
Game design: J C Lawrence

Date: 2019-11-28 Page: 1 of 28 Version: 0.1-132-g31012eb

Contents 8.3.3 Run train(s) . . . . . . . . . . . . . . . 13
8.3.4 Pay or withhold dividends . . . . . . . 13

I Overview 4 8.3.5 Buy train(s) . . . . . . . . . . . . . . . 13

[Link] Train buying . . . . . . . . . 13
1 Introduction 4 [Link] Emergency train buying . . . 14

PE
2 Components 4 9 Game End 14

3 Etiquette 4 9.1 Criteria . . . . . . . . . . . . . . . . . . . . . 14

9.2 Scoring . . . . . . . . . . . . . . . . . . . . . 15

II Rules 4
III Acknowledgments 15

TY
4 Setup 4

5 Game Overview 5 IV Addenda 15

6 Private Auction 5 10 Negotiation 15

6.1 Private auction process . . . . . . . . . . . . . 5
11 Map 15
6.2 Private auction resolution . . . . . . . . . . . . 7
TO
6.3 Private auction notes . . . . . . . . . . . . . . 7 12 Stock Market 16
12.1 Stock Market overview . . . . . . . . . . . . . 16
7 Stock Rounds 7
12.2 Stock price movement . . . . . . . . . . . . . 19
7.1 Stock Round overview . . . . . . . . . . . . . 7
7.2 Selling shares . . . . . . . . . . . . . . . . . . 8 13 Companies 19
7.3 Buying shares . . . . . . . . . . . . . . . . . . 8 13.1 Company overview . . . . . . . . . . . . . . . 19
7.4 “Floating” a public company . . . . . . . . . . 9 13.2 Private companies . . . . . . . . . . . . . . . . 19
O

7.5 Merging two public companies into a system . 9 13.2.1 Private company general rules . . . . . 19
7.5.1 Merger overview . . . . . . . . . . . . 9 13.2.2 Saleable private companies . . . . . . . 20
7.5.2 Merger process . . . . . . . . . . . . . 9 [Link] S CHUYLKILL VALLEY
NAVIGATION . . . . . . . . 20
PR

[Link] Share trading process . . . . 11

[Link] Merger failure . . . . . . . . 11 [Link] S AINT C LAIR T UNNEL . . . 20
[Link] C HAMPLAIN & S T.
8 Operating Rounds 11 L AWRENCE R AILROAD . . . 20
8.1 Operating Round overview . . . . . . . . . . . 11 [Link] D ELAWARE & H UDSON
R AILROAD . . . . . . . . . . 20
8.2 Operating order . . . . . . . . . . . . . . . . . 11
[Link] C OBOURG & P ETERBOR -
8.3 Operating Round actions . . . . . . . . . . . . 12
OUGH R AILWAY . . . . . . . 20
8.3.1 Build track . . . . . . . . . . . . . . . 12
[Link] M OHAWK & H UDSON
8.3.2 Place station marker . . . . . . . . . . 12 R AILROAD . . . . . . . . . . 21

2
Contents 1828 English Rules Contents

[Link] E RIE & K ALAMAZOO 17 Game Phases 27

R AILROAD . . . . . . . . . . 21
17.1 Yellow phase . . . . . . . . . . . . . . . . . . 27
[Link] C AMDEN & A MBOY R AIL - 17.2 Green phase . . . . . . . . . . . . . . . . . . . 28
ROAD . . . . . . . . . . . . 22
17.3 Blue phase . . . . . . . . . . . . . . . . . . . . 28
13.2.3 Unsaleable private companies . . . . . 22
17.4 Brown phase . . . . . . . . . . . . . . . . . . 28

PE
13.3 Public companies . . . . . . . . . . . . . . . . 22 17.5 Red phase . . . . . . . . . . . . . . . . . . . . 28
13.3.1 Public company overview and general 17.6 Gray phase . . . . . . . . . . . . . . . . . . . 28
rules . . . . . . . . . . . . . . . . . . . 22
17.7 Purple phase . . . . . . . . . . . . . . . . . . . 28
13.3.2 Public company particulars . . . . . . . 22

13.3.3 Company directors . . . . . . . . . . . 23

13.4 Systems . . . . . . . . . . . . . . . . . . . . . 24

TY
14 Track Tiles 24

14.1 Track tiles overview . . . . . . . . . . . . . . . 24

14.2 Track types . . . . . . . . . . . . . . . . . . . 24

14.3 Track placement & upgrades . . . . . . . . . . 25

14.3.1 Track placement overview . . . . . . . 25

TO
[Link] Virginia Coalfields . . . . . 25

[Link] Virginia Coalfields Tunnel . . 25

14.3.2 Upgrading track . . . . . . . . . . . . 25

15 Trains & Running Trains 26

15.1 Trains overview . . . . . . . . . . . . . . . . . 26

O

15.2 Route definition . . . . . . . . . . . . . . . . 26

15.3 Running trains by train-type . . . . . . . . . . 26

PR

15.3.1 N trains . . . . . . . . . . . . . . . . . 26

15.3.2 3+D trains . . . . . . . . . . . . . . . 27

15.3.3 8E trains . . . . . . . . . . . . . . . . 27

15.3.4 Diesel trains . . . . . . . . . . . . . . 27

15.4 Train limit . . . . . . . . . . . . . . . . . . . . 27

16 Coal Markers 27

16.1 Coal marker overview . . . . . . . . . . . . . . 27

Date: 2019-11-28 Page: 3 of 28 Version: 0.1-132-g31012eb

4 Setup 1828 English Rules

Part I • 3 coal markers.

• 1 round marker.
Overview • 1 merger marker.
• ~$50,000 in money (not provided).
1 Introduction

PE
In 1828 construction began on the BALTIMORE & O HIO R AIL - 3 Etiquette
ROAD in Baltimore, Maryland, with Charles Carroll of Carroll-
ton laying the first stone of the Carrollton Viaduct. In 1828, the • To help the game progress smoothly, each player should
rush to trains had started. consider their upcoming choices while other players are
The player with the largest net worth at the end of the game taking their turns.
wins (see section §9).
• Use of paper, pencils/pens, calculators and similar aids
is recommended to assist players in making timely and

TY
accurate decisions.
2 Components
• Players should act simultaneously when doing so would
not otherwise affect the game, such as when operating
• 1 set of game rules (this document).
public companies whose choices do not affect each other.
• 1 game map.

• 1 stock market (also contains the par chart & round track).
Part II
• 1 IPO and bank pool chart (currently not provided).
Rules
TO
• Many track tiles (yellow, green and brown).

• 38 trains (6 yellow, 9 green, 4 blue, 6 brown, 4 red, 3 gray,

6 purple). 4 Setup
• 2 sets of 5 player number cards numbered 1 through 5 (one
set blue & one set red). • Place the map, Stock Market, public company charters,
shares and track tiles where they can be easily seen and
• For each of 16 public companies: accessed.
– Public company charter. • Pick otherwise unused areas around the board to serve as
O

– 9 share certificates: the IPO and Bank Pool (components not provided at this
time).
∗ One 20% director’s share certificate.
∗ Eight 10% share certificates. • Place the round marker on the “SR” space on the round
track on the Stock Market.
PR

– Variously 7 or 8 station markers.

– 1 stock price marker • Place the merger marker near the Stock Market.
– 1 par marker • Put two coal tokens on the Virginia Coalfields (K11) and
one on the Virginia Coalfields Tunnel (K13).
• 16 private companies.
• Place the C OBOURG & P ETERBOROUGH R AILWAY
• 1 C OBOURG & P ETERBOROUGH R AILWAY (C&P) sta- (C&P) station marker on Peterborough (C15).
tion marker.
• Randomly discard two (5-player), three (4-player) or four
• 1 C OBOURG & P ETERBOROUGH R AILWAY (C&P) char- (3-player) $250 private companies from the game.
ter.
In games with players new to 1828, it is recommended
• 16 blocking station markers (not count-limited). that one or more of the G RAND T RUNK; N ORFOLK &

Version: 0.1-132-g31012eb Page: 4 of 28 Date: 2019-11-28

 1828 English Rules 6 Private Auction

W ESTERN ; and O NTARIO , S IMCOE & H URON private • In Stock Rounds, players may buy and sell shares of share
companies remain in the game. companies, take and lose directorship of share companies
(see section §13), merge public companies into systems
• (3-player and 4-player game) Discard one red train from and float new public companies and systems (see sec-
the game. tion §7).
• Arrange the private companies in six rows by cost: – At the end of each Stock Round, the player order for
$20 S CHUYLKILL VALLEY NAVIGATION and to its the next Stock Round is determined by the order in

PE
right, S AINT C LAIR T UNNEL . which the players cease acting (see section 7.1).
$40 C HAMPLAIN & S T. L AWRENCE R AILROAD. – The number of Operating Rounds per set after a
Stock Round is determined by the current game
$80 D ELAWARE & H UDSON R AILROAD and to its right,
phase at the end of the Stock Round (see table 4.1
C OBOURG & P ETERBOROUGH R AILWAY.
& section §17).
$120 M OHAWK & H UDSON R AILROAD and to its right,
E RIE & K ALAMAZOO R AILROAD. • In Operating Rounds, share companies are operated by
their directors: buying private companies from players,
$160 C AMDEN & A MBOY R AILROAD.
building track and stations, running and buying trains, and

TY
$250 (those not discarded above, randomly ordered from withholding or paying dividends to shareholders (see sec-
left to right). tion §8).
• Place a 10% share of the P ENNSYLVANIA R AILROAD – Share companies act in Operating Rounds in de-
with the C AMDEN & A MBOY private company. scending order of their stock prices (see section 8.2).
• Place the matching 20% director’s share certificate and a • The game starts in yellow phase with the yellow trains
matching 10% share certificate on each $250 private com- (see table 4.1 & section §17).
pany in play and the rest of those company’s shares on the
IPO. – Game phases are tied to their matching train colours
TO
(see table 4.1) and change immediately when the
• Separate the player number cards by colour and discard first train of a new colour is bought by a share com-
the player number cards with numbers larger than the pany.
player count.
– New par prices, track tile types and other changes
• Set one colour of player number cards aside but still in accompany some game phase changes (see sec-
easy reach. tion §17).

• Randomly assign the remaining player number cards of • The alternating sequence of Stock Rounds and sets of Op-
other colour, one card per player. erating Rounds continues until the end of the game (a
player is agreed to have won, a player bankrupts, a stock
O

• Give each player money: price reaches $500, or a complete set of Operating Rounds
is finished in purple phase) (see section §9).
– 3-players: $800
– 4-players: $700 • The player with the largest net worth at the end of the
game wins (see section §9).
– 5-players: $620
PR

• The holdings of players, public companies and systems

are public information and must be clearly displayed and
visible to all players at all times.
5 Game Overview
• 1828 begins with the auction of the private companies (see 6 Private Auction
section §6).
• After auctioning the private companies, the game consists 6.1 Private auction process
of an alternating series of Stock Rounds and sets of one to
four Operating Rounds. The round marker is used to track • The private auction starts with the player with the #1
the game’s progress through the rounds. player number card and proceeds in rotating player num-

Date: 2019-11-28 Page: 5 of 28 Version: 0.1-132-g31012eb

6 Private Auction 1828 English Rules 6.1 Private auction process

Operating
Train Train Track Tiles Par Prices
Phase Quantity Price Rounds per
Type Limit Available Available
Set
Yellow 2 6 $80 4 Yellow 1 Yellow
Yellow & Yellow &
Green 3 9 $160 4 2
Green Green
Yellow,
Yellow &

PE
Blue 5 4 $250 4 2 Green &
Green
Blue
Yellow, Yellow,
Brown 3+D 6 $350 3 Green & 3 Green, Blue
Brown & Brown
Yellow, Yellow,
Red 6 4 $650 2 Green & 3 Green, Blue
Brown & Brown
Yellow, Yellow,

TY
Gray 8E 3 $800 2 Green & 3 Green, Blue
Brown & Brown
Yellow, Companies
unlimited
Purple Diesel $900 2 Green & 4 may not be
(6 are supplied}
Brown parred

Table 4.1: Game Phases

TO
ber card order, with the #1 player number card following ∗ A player that has passed may still act on future
the largest player number card. turns in the private auction.

• Each player in turn must do one of: • If all players pass consecutively while one or more private
companies remain un-bought:
– Buy and take a private company for its cost, subject
to the following limitations: – All private companies with bids are auctioned or
∗ It must not have a bid. awarded for their bid, cheapest to most expensive,
left to right (see section 6.2).
∗ It must be in the cheapest remaining row.
∗ If it is in a row with other private companies ∗ If it has exactly one bid, that bidder takes the
O

($20, $80, $120 or $250), all other private com- private company for the cost of their bid.
panies in that row must already have bids. ∗ If it has more than one bid, those players auc-
tion the private company among themselves:
This may cause the bids for other private companies
to resolve (see section 6.2). · Each player, in rotating order of increasing
PR

bids and starting with the player with the

– Bid on or increase their current bid any other remain- lowest bid, either raises their bid on the pri-
ing private company. vate company to a multiple of $5 more than
∗ A legal bid is any integer multiple of $5 that the current highest bid on the private com-
is larger than the face value of the private com- pany, or passes and drops out of the auction
pany and the largest bid currently on that private for that private company.
company. · When only one bidder remains, that player
· If a player’s bid on a $250 private company takes the private company for the cost of
is overbid, their bid is returned to them and their bid and the other bidders recover their
only the new larger bid remains on the pri- bids.
vate company. – All purchased private companies then pay their rev-
– Pass. enue to their owning players.

Version: 0.1-132-g31012eb Page: 6 of 28 Date: 2019-11-28

6.2 Private auction resolution 1828 English Rules 7 Stock Rounds

Exception: The C OBOURG & P ETERBOROUGH 6.3 Private auction notes

R AILWAY, if owned by a player, pays a spe-
cial revenue of $15 and does not place a yellow • Bids are allocated from the bidding player’s money.
track tile (see [Link]).
• Players are limited in their bids to their cash on hand at
– The auction resumes with the next player in rotating the time of bidding.
player number card order.
• Winning bids and purchase costs are paid to the bank.

PE
• When all private companies have been purchased, the pri-
vate auction ends: • When the one of the $250 private companies is purchased,
its owner must immediately set the par value and stock
– The Stock Round starts with the next player in rotat- price of the matching public company to one of the yellow
ing player number card order. par valueS ($67, $71 or $79) (see section 7.4)

6.2 Private auction resolution 7 Stock Rounds

TY
• After a player buys a private company, the new cheapest
and left-most private company is checked for bids: 7.1 Stock Round overview

– If it is the first of a row of multiple private companies • Stock Rounds start with the player with the #1 player
with the same cost and one or more of them doesn’t number card and proceed in rotating player number card
have a bid, then it is the next players turn, following order with the #1 player number card following the largest
from the player whose purchase of a private com- player number card.
pany or pass triggered the private auction resolution. Exception: The first Stock Round after the private auc-
– If it has exactly one bid, that bidder takes the private tion starts with the next player in rotating player
TO
company for the cost of their bid. number card order (see section 6.1).
– If it has more than one bid, those players auction the • On their turn a player may pass or do any or all of the
private company among themselves: following in the following order:
∗ Each player, in rotating order of increasing bids
– Sell shares of one or more share companies (see sec-
and starting with the player with the lowest bid,
tion 7.2).
either raises their bid on the private company to
a multiple of $5 more than the current highest – One of:
bid on the private company, or passes and drops ∗ Buy a single stock certificate from either the
out of the auction for that private company.
O

bank pool or IPO (see section 7.3).

∗ When only one bidder remains, that player Or:
takes the private company for the cost of their
bid and the other bidders recover their bids. ∗ Buy two stock certificates, each from either the
bank pool or IPO, of a share company they di-
• This process repeats if the next cheapest and left-most pri- rect and whose stock price is in the gray area of
PR

vate company has one or more bids, until one of the fol- the stock market (see section 7.3, 12 & 13.3.3).
lowing: Or:

– A private company with no bids is reached. ∗ Merge two public companies into a system (see
section 7.5).
– A row of private companies with the same cost is
reached and one or more of them doesn’t have a bid. Or:
∗ Exchange the M OHAWK & H UDSON R AIL -
– All the private companies have been purchased.
ROAD private company for any 10% share from

In which case it is the next player’s turn, following from the IPO or bank pool (see [Link]).
the player whose purchase of a private company or pass – Sell shares of one or more share companies (see sec-
triggered the private auction resolution. tion 7.2).

Date: 2019-11-28 Page: 7 of 28 Version: 0.1-132-g31012eb

7 Stock Rounds 1828 English Rules 7.2 Selling shares

• Player purchases are limited to their available cash. – In Stock Rounds other than the first Stock Round
following the private auction.
• If a player passes, they may act in the Stock Round on
their next or a later turn. – Of share companies that have been parred (see sec-
tion 7.4).
Exception: The Stock Round ends immediately when all
players pass consecutively. • Shares are sold for the current Stock Market price per
share.
• When players pass in the Stock Round, they take the low-

PE
est numbered available player number card of the other 1. Sold certificates are placed in the bank pool.
colour. 2. The selling player receives the current stock price of
the share(s) in cash from the bank.
• When players act instead of passing in the Stock Round,
they return any player number card of the other colour that 3. The stock price marker of the sold shares is then
they have to the supply. moved down one space for each share sold of that
company.
– The player with the next larger number card of the – If the stock price reaches the bottom of its col-
other colour then swaps their card for the returned umn, it isn’t moved any further.

TY
card, repeating as necessary for the other players
– If shares from multiple share companies are
such that the other player number cards show the or-
sold and their stock prices move into the same
der in which those players passed and ceased acting
space on the Stock Market, the selling player
in the Stock Round.
must choose their relative order at that stock
• The Stock Round ends when all the player number cards price, and they are placed below any stock
of the other colour have been taken (all players have con- markers already at that location.
secutively passed).
– The player number cards of the current colour are 7.3 Buying shares
returned to the supply.
TO
– The player number cards of the other colour will de- • Only one stock certificate can be bought per player-turn
termine the player order in the next Stock Round. or action in the Stock Round.

• At the start of the first Stock Round in purple phase (see Exception: The director of a share company whose stock
section §17), blocking station markers are placed on the price is in the gray area of the Stock Market may buy
home stations of all companies with an un-bought direc- shares of that company from the IPO and/or bank
tor’s share certificate (see table 13.1). pool two at a time (see section §12).

– If the E RIE R AILWAY (ERIE), then blocking station • A player cannot buy a certificate of a share company if
they hold 60% or more of that company.
O

markers are placed in both cities in Buffalo/Dunkirk

(E15). Exception: Players may buy past 60% in a share com-
• At the end of each Stock Round, the stock prices of pany if the company’s stock price is in the gray area
floated share companies with no shares in the IPO or Bank of the Stock Market (see section §12).
Pool are moved upwards on the Stock Market (see sec- Note: Exchanging the M OHAWK & H UDSON R AIL -
PR

tion 12.2). ROAD private company for a 10% share of a com-

pany is not considered a purchase and as such is not
• The number of Operating Rounds in the “set” following subject to the 60% limit.
the Stock Round is controlled by the current game phase
(see section §17). • The first available certificate of a public company is al-
ways the director’s certificate (2 shares, 20%, one certifi-
cate - see section 7.4 & section 13.3.3).
7.2 Selling shares
Exception: Director’s certificates cannot be bought in
• Players can sell shares that they own: purple phase (see section §17).
– That are not a director’s certificate (see sec- • Players can buy non-director’s certificates of share com-
tion 13.3.3). panies only if they have been parred (see section 7.4).

Version: 0.1-132-g31012eb Page: 8 of 28 Date: 2019-11-28

7.4 “Floating” a public company 1828 English Rules 7 Stock Rounds

• A player cannot buy a certificate of a share company if • A public company is “floated” when no more than 40% of
they have sold any shares of that company (or constituent the public company’s shares remain in the IPO:
shells for a system) in the current Stock Round.
– Three or four station markers (see table 13.1) are
– They may buy certificates of that share company in placed on the company’s charter.
future Stock Rounds.
– Money equal to 10 times the public company’s par
– Failing to trade-up a single share from a public com- price is placed on the company’s charter.
pany merger in that Stock Round counts as a sale

PE
of a share of the resulting system (see section 7.2 & – The charter and control of the public company is
section 7.5). given to the player holding the director’s certificate
(see section 13.3.3).
• The purchase price for share certificates is the number of
shares represented by the certificate, multiplied by: • A public company that has “floated” will operate in all
future Operating Rounds for the rest of the game (see sec-
public company certificate bought from the IPO: The tion §8), possibly as a component shell in a system (see
par price of that company. section 7.5 & section 13.4).
public company certificate bought from the bank pool:

TY
The current stock price of that company.
system certificate bought from the IPO or bank pool: 7.5 Merging two public companies into a system
The current stock price of that system.
• The purchase price is paid to the bank.
7.5.1 Merger overview

7.4 “Floating” a public company • The acting player must be the director of at least one of
the two public companies.
• The first available share certificate of a public company is
TO
always the director’s certificate (2 shares, 20%, one cer- • The directors of both public companies must agree to the
tificate). merger.

• Directors’ certificates can be bought from the IPO in • Systems cannot participate in or be a component of a
any Stock Round, except during purple phase (see sec- merger.
tion §17).
• There are two forms of merger:
• The director’s certificate of a public company can be
bought from the IPO by: – A pair of public companies, each floated in a previ-
ous Stock Round.
1. Placing all of the public company’s shares in the
O

IPO. Or:
2. Selecting an available par price for the public com-
pany, limited by the current game phase (see sec- – A pair of public companies, neither of which were
tion §17). floated in a previous Stock Round, but one or both
must have been floated in this Stock Round.
PR

3. Putting the public company’s stock price marker in

the matching box on the Stock Market, underneath
any other markers already there (see section §12). 7.5.2 Merger process
4. Putting the public company’s par price marker in the
matching box on the par chart (see section §12). • To merge two public companies into a system (see sec-
5. Paying twice that value to the bank and taking the tion 13.4):
director’s share certificate.
1. The acting player announces which of the two pub-
• After the 20% director’s certificate of a public company lic companies will remain as the new system. The
has been parred and bought, the remaining shares of the shares, station markers, stock price marker and par
public company are available for purchase in subsequent price marker used for the system will match the se-
turns. lected company.

Date: 2019-11-28 Page: 9 of 28 Version: 0.1-132-g31012eb

7 Stock Rounds 1828 English Rules 7.5 Merging two public companies into a system

2. The merger marker is placed on the stock price of the merger stock price for a single share
the new system: moving up from the left-most of the of the system if available (see [Link]).
two stock prices and then right across the top line of Note: A player that sold a share of either
the stock market, the new stock price is the largest of the two public companies in the cur-
value that is not larger than the larger of the two rent Stock Round cannot trade one share
stock prices plus half the smaller, rounding down. to a system share and must exchange that
3. The other public company’s charter is placed par- share for its current stock price as below.

PE
tially underneath the new system’s charter so that Or:
each can be clearly seen and the assets of the two ∗ Discard that single share in exchange for
companies are combined (see section 13.4). its current stock price from the bank.
– If only one of the two public companies had · This counts as a sale of the system by
been floated, its treasury is discarded to the that player in that Stock Round (see
bank. section 7.2) but the stock price is not
– If the new system has two coal tokens, one is changed.
returned to the supply on the Virginia Coalfields 5. All bank pool shares followed by all IPO shares of
(K11).

TY
the merging public companies are traded for system
– Station markers of the other public company on shares. First pairs of shares, then any remaining sin-
the map and on the new system’s charter, if any, gle shares are traded up to system shares. Any re-
are replaced with the station markers of the new maining discarded shares are placed in the bank pool
system. (see [Link]).
∗ If both merging public companies had sta- 6. The merger marker is replaced with the stock marker
tion markers in the same hexagon: of the new system.
· One of the two station markers must be 7. The par price marker of the new system is placed in
replaced with a blocking station marker the “Systems” box on the par chart.
(active player’s choice) and the removed
TO
station marker is returned to the new sys- 8. The shares and markers of the other public company
tem’s charter. are discarded from the game.
– Any trains owned by the two public companies 9. The director of the new system must donate a 10%
remain on the charters for their respective shells share certificate that they own of the new system
(see section 13.4). to the new system’s charter (see [Link] & sec-
tion 13.4).
4. Players trade their shares of the two public compa-
nies for shares of the system (see [Link]): – The currently active player is the director of the
new system unless another player owns more
(a) Starting with the acting player and proceeding
shares of the new system (see section 13.3.3).
in rotating player number card order:
O

– The donated share is placed on the new system’s

– Each player trades all pairs of shares they
charter (the director receives no compensation
have of either and/or both merging public
for the donated share).
companies for single shares of the new sys-
tem if available (see [Link]). ∗ The share donation may change which
player is the director of the system (see sec-
PR

∗ If the total number of shares the player

tion 13.3.3 & section 13.4).
has of both public companies is odd, the
player may freely choose which share to – Only one share can be donated to the system.
leave un-traded. – The paired charters and control of the system is
(b) Starting with the next player in player number given to the player holding the director’s certifi-
card order after the acting player and proceed- cate (see section 13.3.3).
ing in rotating player number card order, ending 10. Shares of the new system can be bought and/or sold
with the currently acting player: after the merger in the normal manner for the then
– Each player must: current stock price (see section 7.3 & section 7.2).
∗ Trade any single share they have of one of 11. If one of the two public companies was not floated
the two public companies plus the differ- at the start of the merger process, when the merged
ence between its current stock price and company (system) floats:

Version: 0.1-132-g31012eb Page: 10 of 28 Date: 2019-11-28

 1828 English Rules 8 Operating Rounds

– The resulting system has floated when no more – This counts as a sale of a system share for that player
than 40% of the system shares remain in the in that Stock Round (see section 7.3).
IPO (see section 7.4).
• If there are no remaining system shares for the bank pool
– Six, seven or eight station markers matching
or IPO to trade up to, the shares to be traded are discarded.
the system are placed on the company’s charter,
matching the total number of station markers • The trading process then stops.
across both public companies (see table 13.1).

PE
– Money equal to 10 times the then current stock
price is put on the system’s charter as its trea- [Link] Merger failure
sury.
• If upon completion of the share trading process no player
holds at least two shares and is thus the director of the
[Link] Share trading process company (see section 13.3.3), or the director does not
have a 10% share certificate to donate to the new system
• Players trading into shares of the new system, take their (see section 7.5.2), the merger has failed and all compo-
system shares from: nents and monies are returned to their prior positions.

TY
1. The individual public company shares they are trad- – In this case the acting player is considered to have
ing for system shares. passed on their turn in the Stock Round (see sec-
2. Shares previously discarded in the trading process. tion 7.1).

3. Yet un-traded shares held by players later in the trad-

ing order, giving them a discarded share of the other
public company. 8 Operating Rounds
– The other player must give or take money to or
from the bank to cover any difference in value 8.1 Operating Round overview
TO
between the share they received and the share
they gave. 1. Private companies pay their revenue (shown on their cer-
∗ If the receiving player doesn’t have enough tificate) from the bank to their player or share company
cash to pay for the share they receive, they owners.
must instead discard the share and take its • The C OBOURG & P ETERBOROUGH R AILWAY pri-
current stock value from the bank in cash. vate company, if owned by a player lays or up-
4. The IPO, replacing it with a discarded share of the grades a track tile and pays the resulting revenue (see
other public company. [Link]).
O

5. The bank pool, replacing it with a discarded share of 2. All floated share companies operate in operating order
the other public company. (see section 8.2).
• Received system shares are placed face-down.

– Face-down system shares cannot be subsequently 8.2 Operating order

PR

used during the trading process.

• Floated share companies (see section §13) operate in de-
– Face-down shares are turned face-up at the end of scending order of stock price.
the trading process and are then available for use.
– Among share companies with the same stock prices
• Shares given in exchange for a system share or discarded but in different locations on the Stock Market, the
during the trading process are discarded shares. company whose stock price marker is further right
• If there are no more system shares for the player to trade operates first.
up to, the player has insufficient money to pay for the – The stock price markers of share companies in the
trade-up or the player declines to pay for the trade-up, then same space of the Stock Market are stacked to indi-
the player must sell their single share to the bank pool for cate the order in which they’ll operate, from the top
its current stock value. down.

Date: 2019-11-28 Page: 11 of 28 Version: 0.1-132-g31012eb

8 Operating Rounds 1828 English Rules 8.3 Operating Round actions

• As share companies operate, their stock price markers are 8.3.1 Build track
turned upside-down and moved to their new stock price
location (see section 12.2): • An un-merged public company may place one yellow
track tile or (green phase or later) upgrade one track tile
– Stock price markers moving to the same space as or hexagon per Operating Round (see section 14.3 & sec-
other stock price markers are placed under other tion 14.3.2 & section §17).
face-up stock price markers and on top of other face-
down stock price markers (see section 12.2). • A system may do this twice, but cannot upgrade two track

PE
tiles or hexagons in the same Operating Round and cannot
• At the end of the Operating Round the upside-down stock upgrade a track tile it placed in the same Operating Round.
price markers are turned face-up so that the bottom face-
down marker becomes the top face-up marker. The result • The B OSTON & M AINE (B&M) and N EW YORK N EW
is that share companies sharing a space in the stock price H AVEN & H ARTFORD (NYH), or a system with either
chart operate in the order in which their share markers may place an additional yellow track tile for a cost of $40
arrived at that space. paid to the bank from the company treasury in addition to
any terrain costs, provided that it does not upgrade a track
• Each share company completes all of its actions in the tile in the same Operating Round (see section 13.3.2). A

TY
Operating Round before the next share company operates. system that contains both B OSTON & M AINE (B&M) and
N EW YORK N EW H AVEN & H ARTFORD (NYH) may do
this twice.
8.3 Operating Round actions
• Track placement and terrain costs are paid from the share
• Share companies perform the following steps in order: company treasury to the bank.

1. (If the first time the share company is operating) • Some hexagons are blocked and may not have track
Place the company’s home station marker(s) on placed there until their matching private companies have
its home station location(s) (see table 13.1 & sec- closed or been bought by a share company (see sec-
TO
tion 13.4). tion 13.2.1).
2. (Optional) Build track (see section 8.3.1).
3. (Optional) Place a station marker (see section 8.3.2). 8.3.2 Place station marker
4. Run train(s) (see section 8.3.3). • In order to place a station marker, the share company
5. Pay or withhold dividends (see section 8.3.4). must:
6. (May be optional) Buy train(s) (see section 8.3.5 & 1. Have a station marker available to be placed (see ta-
section [Link]). ble 13.1 & section 13.4).
O

• (In green and later phases) Share companies may buy pri- 2. Pay $100 for the station marker from its treasury to
vate companies with face values of less than $250 from the bank.
players at any time during the company’s operation for 3. Place a station marker in an empty city circle that
between $1 and the twice the face value of the private can trace a single continuous line of track to a previ-
PR

company (see section 13.2). ously placed station marker of that company:
• A share company with a route (see section 15.2) from one – Without passing through a city all of whose
of its station markers to the Virginia Coalfields (K11), and station-marker spaces are filled with other com-
that does not already own a coal token, may purchase panies’ station markers and/or blocking station
a coal token from the supply on the Virginia Coalfields markers.
(K11) for $120 paid from its treasury to the bank at any – Without passing through the Virginia Coalfields
time during its operations (see section §16). (K11) if the company does not own a coal
marker (see [Link]).
• The next share company in operating order (see sec-
– Crossing any hexagon-edge twice.
tion 8.2) then operates (see section 8.2), or if it was the last
share company in operating order, the Operating Round Exception: A station marker may be placed
ends (see section §5). in Scranton (F20) using the power of the

Version: 0.1-132-g31012eb Page: 12 of 28 Date: 2019-11-28

8.3 Operating Round actions 1828 English Rules 8 Operating Rounds

D ELAWARE & H UDSON private company or in – Shares in the treasury of a system pay their dividend
Peterborough (C15) by buying the C OBOURG to the system’s treasury (see section 13.4).
& P ETERBOROUGH R AILWAY private com- – No dividend is paid for shares in the IPO.
pany without satisfying the above limits (see
[Link] & [Link]). • If the revenue is withheld:

• A share company cannot place: – The entire revenue is paid from the bank to the com-
pany treasury.

PE
– More than one station marker, not counting its home
• Paying or withholding dividends affects the company’s
station(s), per Operating Round. A private company
stock price (see section 12.2).
special power cannot be used by a share company to
place a second station marker in an Operating Round
(see section 13.2.2). 8.3.5 Buy train(s)
– More than one station marker in the same hexagon.
[Link] Train buying
– A station marker in the last available city circle of
a hexagon that is also the home station of a share • At the start of the train-buying step, a system may freely

TY
company, if that company has not already operated arrange its trains between its shells (see section 13.4).
and placed its home station.
– Trains cannot be moved between shells after the start
∗ A station marker in Buffalo/Dunkirk (E15) un-
of the train-buying step.
til the E RIE R AILWAY (ERIE) has placed its
home station on one side or the other of an OO – A shell cannot contain more trains than the current
track tile in that hexagon (see section 13.3 & train limit (see section 15.4).
section 14.2).
• A public company or system shell that has not reached its
– A station marker in the Virginia Coalfields (K11) train limit may buy trains that would not cause it to exceed
(see section §11). the train limit before any game phase change caused by
TO
the purchase takes effect (see section §17 & section 15.4).

8.3.3 Run train(s) • Trains can be bought from the supply for face value, or
from another share company for any price agreed upon by
• A share company’s income or revenue is the sum of the the directors of both companies (minimum $1, also see
revenues of all the trains the company owns during this section [Link]).
step (see section §15).
• A share company can buy multiple trains, limited by its
– If a player indicates a route or routes that produces treasury and the train limit (see section 15.4).
a higher total revenue for the company, the director
O

• Trains are available from the supply in colour order: first

must use it. yellow, then green, blue, brown, red, gray and finally pur-
ple.
8.3.4 Pay or withhold dividends – All the trains of a given colour must be bought from
the supply before the trains of the next colour are
PR

• The director of a share company decides whether the com- available.

pany’s total revenue is paid out in dividends to its share-
holders or withheld in the company’s treasury • Trains are purchased one at a time with any phase changes
occurring before the company purchases any more trains
• If the revenue is paid out in dividends: in that Operating Round.

– Each player receives as dividends from the bank the • Game phase changes are caused by train purchases of new
percentage of the total revenue that corresponds to colours (see table 4.1 and section §17) and apply immedi-
the total percentage of the company shares they own. ately throughout the game.
– Shares in the bank pool pay their fraction of the total – Some game phase changes will cause older trains
revenue as a dividend from the bank to the company to “rust” and be removed from the game (see sec-
treasury. tion §17).

Date: 2019-11-28 Page: 13 of 28 Version: 0.1-132-g31012eb

9 Game End 1828 English Rules

– Some game phase changes reduce the train limit (see • If the share company is still unable to buy a train from
section §17). the bank after the director has contributed all possible
∗ Public companies and system shells must im- funds and sold all shares that can be legally sold (see sec-
mediately discard trains (director’s choice) in tion 7.2) and no other share company is willing to sell one
excess of the new train limit from the game (see of its trains to the company for an agreeable price, then the
section 15.4). player is declared bankrupt and the game is immediately
ended (see section 9.1).
• A share company with a route between one of its sta-

PE
tion markers and another revenue center (see section 15.2) • A train bought from another share company with direc-
must own at least one train at the end of its train buying tor’s contributions cannot be bought for more than face
step. value.
– Systems are not required to have a train in both shells
(see section 15.4). • A share company that buys a train with a director’s con-
tribution necessarily ends its operations with no money in
∗ If only one of the shells of a system has a train
its treasury.
or trains and the company has a route between
one of its station markers and another revenue

TY
center, the director may choose to enter Emer- • A share company cannot be required to buy a train from
gency Train Buying for the empty shell (see another share company, regardless of the price at which it
section [Link]). is offered.

[Link] Emergency train buying

9 Game End
• A share company with a route between one of its sta-
tion markers and another revenue center (see section 15.2)
must own a train at the end of its operations. 9.1 Criteria
TO
• If the share company does not have enough money in its
treasury to buy a train, and the company must own a train, 1828 can end in four ways:
then the additional necessary funds must be provided by
the director of the company: 1. If all the players agree which one of them has already won
– Money contributed from the director’s personal the game:
funds.
– (if the director does not have enough money to con- • The game ends immediately and that player has won.
tribute to buy the train) The director must sell shares
O

to raise the additional funds (see section 7.2). 2. If a player bankrupts (see section [Link]), the game ends
immediately and scores are calculated (see section 9.2).
∗ Normal share-selling rules apply (see sec-
tion 7.2).
3. If a stock price reaches $500 per share:
· Director control of the currently operat-
PR

ing share company may not be transferred

• At the end of a Stock Round because it was fully
to another player during Emergency Train
held by players, the game ends immediately and
Buying (see section 13.3.3).
scores are calculated (see section 9.2).
∗ If shares are sold such that director control of a
different share company transfers to a new di- • By paying a dividend during an Operating Round
rector, then director control transfers before a and having the stock price move to $500, the game
train may be bought from it. ends at the end of that Operating Round (see sec-
∗ The director of the share company cannot con- tion 12.2) and scores are calculated (see section 9.2).
tribute more money than is required to buy the
selected train and cannot sell additional shares 4. After the first complete set of Operating Rounds in pur-
once enough money has been raised to buy the ple phase (see section §17) and scores are calculated (see
selected train. section 9.2).

Version: 0.1-132-g31012eb Page: 14 of 28 Date: 2019-11-28

9.2 Scoring 1828 English Rules 11 Map

9.2 Scoring Part IV

• A player’s score is their net worth: Addenda

– THE SUM TOTAL OF PERSONAL CASH AND THE
VALUE OF THEIR PORTFOLIO. 10 Negotiation

PE
• Players may discuss and negotiate binding agreements on:
• Private companies held by a player are scored at their face
value. – Share companies purchasing private companies
owned by a different player (see section 8.1).
• All shares are valued at their stock price when the game – Train purchases between share companies with dif-
ended. ferent directors (see section 8.3.5).
– Public company mergers.
– If a share company was not parred (see section 7.4),
with each other.

TY
then its shares have no value.
• All other discussion or negotiation of agreements is disal-
• T HE PLAYER WITH THE LARGEST SCORE WINS THE lowed, including but not limited to:
GAME .
– Floating companies (see section 7.4).
– Stock buys or sales (see section 7.2 & section 7.3).
– There is no tie-breaker.
– Track placement or upgrades (see section 14.3).
– Station marker placement (see section 7.3).
TO
Part III • Any offers, suggestions, negotiations or other game dis-
cussions must conform to the above limits and must be
fully communicated to all players when they occur.
Acknowledgments • Any agreements or understandings among players must be
disclosed to all players.

The designer would like to thank Francis Tresham for the de-
sign and development of the wonderful field of 18xx games;
Daniel Barnes, Roel van der Hoorn, Brian Joughin, Bruce Mur-
11 Map
O

phy and Shelby Noonan for their bounteous supply of inspi-

ration, notions, complaints and sounding board in equal mea- • The map consists of hexagons of various types:
sures. In particular Daniel Barnes prompted key aspects of the Cities: City hexagons contain large circles along with the
train roster and got me to re-focus on aspects I had the most name(s) of the cities.
difficulty with as a player, Bruce Murphy made key sugges-
Towns: Town hexagons contain one or two small black
PR

tions around the system formation rules, Roel prompted the

key inspirations that drove player capitalisation amounts and circles marking the towns for hexagons without
the $250 private companies, Shelby Noonan helped with the track, or cross-bars on pre-built track.
tile roster and many map details & balances, and Brian Joughin Virginia Coalfields: The Virginia Coalfields are repre-
helped with the rules. Additional thanks go to the many other sented by the gray hexagon at K11. A station marker
play-testers too numerous to list. I have been honoured to de- cannot be placed in the Virginia Coalfields (see sec-
sign games for and with such wonderful people. tion 8.3.2).
Virginia Coalfields Tunnel: The Virginia Coalfields
I hope you enjoy the game! Tunnel is represented by the hexagon at K13.
Only a #4 yellow town tile may be placed on the
– J C Lawrence
Virginia Coalfields Tunnel (K13) (see [Link]).
Subsequently it is treated as a town.

Date: 2019-11-28 Page: 15 of 28 Version: 0.1-132-g31012eb

12 Stock Market 1828 English Rules

Yellow hexagons: Yellow hexagons represent yellow Revenue center A location on a hexagon or track tile
pre-built track on the map. They can be upgraded such as a city, town, coalfield or off-board that has
using green track tiles in green phase or later (see an income or revenue value.
section §17).
Line of track A continuous track-connection between a
Gray hexagons: Gray hexagons contain pre-built track hexagon edge and a revenue center, or between a
that may not be altered nor upgraded. Track tiles specific pair of hexagon edges on the same or dif-
cannot be placed on gray hexagons, nor adjacent to ferent hexagons.

PE
them such that a line of track runs into a blank gray
hexagon-edge.
Red off-board locations: Red hexagons represent con-
nections to areas not shown on the map. Black tri-
angles mark separate track connections to those re-
12 Stock Market
mote locations. Track tiles may be placed adjacent
to them so that the lines of track connect to the 12.1 Stock Market overview
black triangles leading to the remote connections.

TY
Track tiles cannot be placed adjacent to an off-board
• The Stock Market consists of four regions:
hexagon such that a line of track runs into a blank
red hexagon-edge.
1. A large body of pale-background stock price boxes
Rural hexagons: All other hexagons are rural. with no special rules.

• Terrain is marked with a wavy line (river) or triangle 2. A diagonal line of yellow, green, blue and brown
(mountains) along with the terrain cost for building track stock price boxes that mark possible par prices for
on those hexagons. newly floated public companies in those or later
game phases (see section 7.4 & table 4.1).
• Revenue centers are marked with their revenue as a num-
TO
3. A stock price of $500 with a red background. The
ber in a small white circle, or as a series of numbers game ends if a stock price marker reaches $500 (see
matching the game phases (yellow/brown) at which they section 9.1).
start applying (see table 4.1 & section 8.3.3).
4. A gray area toward the lower left. Share companies
• Some hexagons are marked with a barbell, denoting that with stock prices in the gray region are subject to
they are blocked by a matching private company (see sec- additional rules:
tion 13.2).
– Players may buy shares of those companies
even if they already own 60% or more of them
• Some hexagon edges are blocked by blue barriers and
(see section 7.3).
O

track tiles cannot be placed such that a line of track con-

nects to those edges (see 14.3.1). – The director of that company may buy its shares
from the IPO and/or bank pool two at a time
• The Canada off-board is a single revenue center com- (see section 7.3).
prised of two hexagons A13 & A15. – The stock price marker may move differently at
PR

the end of Stock Rounds (see section 12.2).

• The Virginia Coalfields (K11) has special rules for track
placement and running trains (see section 14.3 & sec- • Share companies have a stock price that is tracked on the
tion 15.2). Stock Market with a stock price marker.
• The Virginia Coalfields Tunnel (K13) has special rules for
• When a share company is parred, its stock price marker is
track placement (see section 14.3).
placed on the matching location on the Stock Market (see
• A small gap in some printings of the track line in E13 is section 7.4).
the result of a software bug and is unintentional. The track
in that hex connects D12 to Hamilton/Tononto (D14). • Share company stock price markers move in well-defined
ways (see section 12.2).
• Related terms:

Version: 0.1-132-g31012eb Page: 16 of 28 Date: 2019-11-28

12.1 Stock Market overview 1828 English Rules 12 Stock Market

PE
TY
TO
O
PR

Figure 11.1: 1828 Game Map

Date: 2019-11-28 Page: 17 of 28 Version: 0.1-132-g31012eb

12 Stock Market 1828 English Rules 12.1 Stock Market overview

PE
TY
TO
O
PR

Figure 12.1: Stock Market

Version: 0.1-132-g31012eb Page: 18 of 28 Date: 2019-11-28

12.2 Stock price movement 1828 English Rules 13 Companies

12.2 Stock price movement • If shares of multiple companies are sold at the same time,
the seller must decide the order in which they are sold
• The current stock price of a share company’s shares is and thus the order in which their stock price markers are
recorded on the Stock Market with a stock price marker. moved and potentially the order in which they will later
operate (see section 7.2 & 8.2).
• Stock price marker can move in four directions: up, down,
left and right. If a stock price marker is to be moved:
13 Companies

PE
– Up when it is at the top of a column, then it is moved
right instead.
13.1 Company overview
– Down when it is at the bottom of a column, then it
isn’t moved. • There are two types of companies: private companies (see
– Left when it is at the left end of a row, then it is section 13.2) and share companies.
moved down instead. • Share companies can be public companies (see sec-
– Right when it is at the right end of a row, then it is tion 13.3) or systems formed by merging two public com-

TY
moved up instead. panies (see section 7.5 & section 13.4).
– Up or right when it is in the top right ($500) cor-
ner, then it isn’t moved and the game will end (see 13.2 Private companies
section §9).
– Down or left when it is in a bottom left corner, then 13.2.1 Private company general rules
it isn’t moved.
• Private companies pay their revenue from the bank to their
• When a stock price marker is moved, it is placed under any owners (a player or a share company) at the start of each
stock price markers already present in the new location. Operating Round (see section 8.1). Private companies do
TO
not otherwise “operate” and do not lay track or buy or run
• If a stock price marker reaches the top right corner of the trains.
Stock Market ($500), then the game will end (see sec-
Exception: The C OBOURG & P ETERBOROUGH R AIL -
tion §9).
WAY private company lays track and its revenue is
• For each 10% share sold by a player, the stock price defined by a train-route from the tile placed when it
marker is moved down one row (see section 7.2). operates (see [Link]).
• All remaining private companies close at the start of
• If a floated share company pays a non-zero dividend dur- red phase and are discarded from the game. Some pri-
ing an Operating Round, then its stock price marker is vate companies may close earlier in the game (see sec-
O

moved one column to the right. tion 13.2).

• If a floated share company does not pay a dividend or it • In green phase or later, share companies may purchase
withholds its dividend during an Operating Round, then saleable private companies from players (see section 8.3)
its stock price marker is moved one column to the left. at any time during the operation of the buying company
PR

(see section 13.2.2).

• At the end of a Stock Round, the stock price markers of
floated share companies that have no shares left in both – Both the director of the buying company and the
the IPO and Bank Pool are moved up one row on the stock owner of the private company must agree to the pur-
market (see section 8.2). Additionally: chase.
– The purchase price may range from $1 to double the
– If the director owns at least 80% of the share com- private company’s face value and is paid from the
pany then the stock price marker is moved up one buying company’s treasury to the selling player.
more row.
– Purchased private companies are moved to their
– If the stock price marker was in the gray area of the owning company’s charter and future revenues from
Stock Market at the start of its movements then the the private company will be paid to the owning com-
stock price marker is moved up one more row. pany’s treasury.

Date: 2019-11-28 Page: 19 of 28 Version: 0.1-132-g31012eb

13 Companies 1828 English Rules 13.2 Private companies

– The owning company may use the special power of [Link] C HAMPLAIN & S T. L AWRENCE R AILROAD
the private company, if any, when the owning com-
pany is operating from the point of purchase onward Face value: $40
and as long as the private company has not closed.
Some private company powers can only be used dur- Revenue: $10
ing certain steps of their owning company’s opera- Blocks: B24
tions.
Closes: At the start of red phase.

PE
• Private companies with $250 face values cannot be bought
by share companies (see 13.2.3). Power: The owning company may place a yellow track tile in
• The saleable private companies block specific hexagons B24 for free at any time in its operations. This does not
on the map. Track tiles cannot be built or upgraded at count as part of the owning company’s track lay. The track
those hexagons by any other private or share company un- tile at Burlington (B24) does not need to connect to or be
til the matching private company has been purchased by a part of one of the owning share company’s routes.
share company or closed. Use: The power may be used at any time during the owning
– S CHUYLKILL VALLEY NAVIGATION blocks G19. company’s operation.

TY
– S AINT C LAIR T UNNEL blocks D10.
– C HAMPLAIN & S T. L AWRENCE R AILROAD blocks [Link] D ELAWARE & H UDSON R AILROAD
B24.
– D ELAWARE & H UDSON R AILROAD blocks F20 Face value: $80
– C OBOURG & P ETERBOROUGH R AILWAY blocks
Revenue: $15
C15.
– M OHAWK & H UDSON R AILROAD blocks D22. Blocks: Scranton (F20)
– E RIE & K ALAMAZOO R AILROAD blocks E7.
Closes: At the start of red phase.
TO
– C AMDEN & A MBOY R AILROAD blocks H22.
Power: The owning company may pay a fee of $120 to the
bank, place or upgrade a track tile in Scranton (F20) and
13.2.2 Saleable private companies
optionally also place a station marker in Scranton (F20)
[Link] S CHUYLKILL VALLEY N AVIGATION without additional cost.

Face value: $20 This counts as a yellow track tile lay or upgrade re-
spectively for the share company’s normal track build
Revenue: $5 (see section 8.3.1). If a station marker was placed in
O

Blocks: G19 Scranton, it counts as the company’s station marker

placement for that Operating Round (see section 8.3.2).
Closes: At the start of red phase. The track tile at Scranton (F20) does not need to connect
Power: None. to or be part of one of the owning share company’s routes.
Use: N/A. Use: The power may be used in the track building and sta-
PR

tion placement steps of the owning share company’s oper-

ations.
[Link] S AINT C LAIR T UNNEL

Face value: $20

[Link] C OBOURG & P ETERBOROUGH R AILWAY
Revenue: $5 / $10 (when owned by a share company)
Blocks: D10 Face value: $80

Closes: At the start of red phase. Revenue: $Variable / $15 (when owned by a share company)

Power: None. Blocks: C15 and reserves a station location at C15

Use: N/A. Closes: At the start of red phase.

Version: 0.1-132-g31012eb Page: 20 of 28 Date: 2019-11-28

13.2 Private companies 1828 English Rules 13 Companies

Power: The owning player may place a yellow track tile, or Blocks: D22
(green phase or later) may upgrade a track tile or map
hexagon on a route connected to Peterborough (C15), Closes: When the power is used or at the start of red phase.
or Peterborough (C15) itself. Any terrain costs must be
paid by and from the C OBOURG & P ETERBOROUGH Power: As the owning player’s S TOCK ROUND action in yel-
R AILWAY treasury. low phase or later, or at any time during an Operating
Round, may be exchanged for any 10% share certificate
Player revenue is the owning player’s choice of half from the IPO or bank pool, or for 10% (half) of a director’s

PE
of a 2-train route (two revenue centers) that includes certificate (the purchaser must pay for the other 10% and
the placed tile and any revenue center on it. The placed par the company in the normal manner, see section 7.4), if
track tile may be between the two revenue centers that one is available. The M OHAWK & H UDSON R AILROAD
form the route or off one end (see section 15.2). The is then closed and removed from the game.
route chosen does not need to enclude the C OBOURG & Use: The power is used as the owning player’s action during a
P ETERBOROUGH R AILWAY ’ S station marker. The other Stock Round or any time during an Operating Round.
half of the revenue is accumulated on the C OBOURG &
P ETERBOROUGH R AILWAY ’ S charter as a treasury. If the Note: If the M OHAWK & H UDSON R AILROAD power is

TY
player does not place or upgrade a track tile or there is used to float a not-yet-floated public company or system
only one revenue center on the route from the placed track during an Operating Round (see section 7.4) then the
tile, then the C OBOURG & P ETERBOROUGH R AILWAY newly floated company will operate in the normal manner
does not pay any revenue. and order in that Operating Round if no other share
companies have operated in that Operating Round and
If a share company buys the C OBOURG & P ETER - otherwise will operate in the next Operating Round.
BOROUGH R AILWAY :
Exchanging the M OHAWK & H UDSON R AILROAD
• The C OBOURG & P ETERBOROUGH R AILWAY’s
private company for a 10% share of a company is not
treasury is transferred to the share company’s trea-
considered a purchase and as such is not subject to
TO
sury.
the 60% limit or the limitation of not having sold that
• The buying share company may replace the company in that Stock Round.
C OBOURG & P ETERBOROUGH R AILWAY ’ S station
marker in Peterborough (C15) with one of its un-
placed station markers. [Link] E RIE & K ALAMAZOO R AILROAD
– The share company cannot have already placed
a station marker in that Operating Round (see Face value: $120
section 8.3.2).
– Otherwise replace the C OBOURG & P ETER - Revenue: $20
O

BOROUGH R AILWAY ’ S station marker in Peter-

Blocks: E7
borough (C15) with a blocking station marker.
If the C OBOURG & P ETERBOROUGH R AILWAY closes Closes: At the start of red phase.
before it is purchased by a share company, then the
Power: The owning share company may (once per game)
PR

C OBOURG & P ETERBOROUGH R AILWAY’s treasury is

place an additional yellow track tile for $20 paid to the
discarded to the bank and its station marker in Peterbor-
bank as part of its normal track-build. The owning share
ough (C15) is replaced with a blocking station marker.
company cannot upgrade a track tile in that Operating
Use: The power is used by the owning player during the pri- Round.
vate revenue step of Operating Rounds (see section 8.1).
Use: The power may be used during the track-building step of
a share company’s operation.
[Link] M OHAWK & H UDSON R AILROAD
Note: When a company buys the E RIE & K ALAMAZOO
Face value: $120 R AILROAD from a player, the company must immediately
place a yellow track tile at E7. This is in addition to its
Revenue: $20 normal operations.

Date: 2019-11-28 Page: 21 of 28 Version: 0.1-132-g31012eb

13 Companies 1828 English Rules 13.3 Public companies

[Link] C AMDEN & A MBOY R AILROAD 13.3 Public companies

Face value: $160 13.3.1 Public company overview and general rules
Revenue: $25 • There are sixteen public companies (see table 13.1).
Blocks: Philadelphia/Trenton (H22)
• Each public company consists of:
Closes: At the start of red phase.

PE
– 9 share certificates:
Use: None. ∗ One 20% director’s certificate.
Note: Comes with a 10% certificate of the P ENNSYLVANIA ∗ Eight 10% certificates.
R AILROAD (PRR). – 3 or 4 station markers (varies by company, one of
which is its home station (see table 13.1)
13.2.3 Unsaleable private companies – A charter for holding and tracking company assets.
– A par price marker.
• The 8 unsaleable private companies correspond to 8

TY
matching share companies (see section 13.3.2): – A stock price marker.

1. C ANADIAN PACIFIC (CPR) • Public companies may:

2. G RAND T RUNK (GT) – Buy private companies (green phase or later, see sec-
3. I LLINOIS C ENTRAL (IC) tion §17 & section 13.2).
4. M ICHIGAN C ENTRAL (MC) – Place and upgrade track tiles (see section 8.3.1 &
5. M ISSOURI PACIFIC R AILROAD (MP) section 14.3)
6. N EW YORK , C HICAGO & S T. L OUIS R AILROAD – Place station markers (see section 8.3.2).
TO
(NKP) – Buy and run trains (see section 8.3.3, section 8.3.5
7. N ORFOLK & W ESTERN (NW) & section §15).
8. O NTARIO , S IMCOE & H URON (OS&H) – Pay or withhold dividends (see section 8.3.4).

• Each of the unsaleable private companies has the follow- – Merge with another public company to form a sys-
ing attributes: tem (see section 7.5 & section 13.4)

Face value: $250 • Public companies once parred (see section 7.4) have:
Revenue: $40 – A par price, tracked on the par chart with a par price
O

Blocks: None marker.

Closes: At the start of red phase or when the matching – A stock price, tracked on the stock market with a
share company or a system including that share com- stock price marker.
pany as a constituent has acquired a train.
PR

Power: None
Use: None. 13.3.2 Public company particulars
Note: When purchased during the private auction comes
with the 20% director’s certificate and a 10% share • The B OSTON & M AINE (B&M) and N EW YORK N EW
certificate of the matching share company. The buy- H AVEN & H ARTFORD (NYH), or a system with either
ing player must immediately set the par price for the may place an additional yellow track tile for a cost of $40
matching share company to any yellow par price. An paid to the bank from the company treasury in addition to
unsaleable private company cannot be purchased by any terrain costs, provided that it does not upgrade a track
a share company. tile in the same Operating Round (see section 8.3.1). A
system that contains both B OSTON & M AINE (B&M) and
• A subset of the unsaleable private companies are used in N EW YORK N EW H AVEN & H ARTFORD (NYH) may do
each game (see section §4). this twice.

Version: 0.1-132-g31012eb Page: 22 of 28 Date: 2019-11-28

13.3 Public companies 1828 English Rules 13 Companies

• The O NTARIO , S IMCOE & H URON (OS&H) home station

is in A14 and is connected to both the hexagons and all the
track connections of that off-board location (A13 & A15).
Name Symbol Station Home
markers Station • The E RIE R AILWAY (ERIE) is not required to place its
B OSTON & B&M 4 Boston home station in a specific city circle in Buffalo/Dunkirk
M AINE (E27) (E15) unless and until a track tile has been placed on Buf-
BALTIMORE & B&O 3 Baltimore falo/Dunkirk (E15).

PE
O HIO (I19) – If the E RIE R AILWAY (ERIE) has floated and a
C HESAPEAKE & C&O 3 Richmond track tile had not previously been placed on Buf-
O HIO (K15) falo/Dunkirk (E15), it must immediately place its
C ANADIAN CPR 4 Montreal home station on one of the Buffalo/Dunkirk (E15)
PACIFIC (A23) city circles when a track tile is placed there.
R AILWAY
G RAND T RUNK GT 3 Grand
Rapids 13.3.3 Company directors

TY
(D4)
E RIE R AILROAD ERIE 3 Dunkirk • The player that holds the most shares of a share company
/ Buffalo (largest total percentage) is the director of the company,
(E15) has the 20% director’s share of the company and controls
I LLINOIS IC 4 Nashville all of that company’s operations (if it has floated (see sec-
C ENTRAL (J6) tion 7.4)).
M ICHIGAN MC 4 Mackinaw • The director’s certificate can never be sold, only trans-
C ENTRAL City ferred to another player. Once a company has floated,
R AILROAD (A7) there is always a player that owns the 20% director’s cer-
M ISSOURI MP 4 St Louis
TO
tificate and is the director of the company.
PACIFIC (I3)
R AILROAD • If a player acquires shares such that they own a larger
N EW YORK NYC 3 Albany percentage of the share company than the current direc-
C ENTRAL (E23) tor, they become the new company director and exchange
N EW YORK , NKP 3 Cleveland company certificates totaling 20% of the company for the
C HICAGO & S T. (F10) 20% director’s certificate of the company, taking control
L OUIS of the company charter and its assets.
R AILROAD
• In order to transfer director control of a company via share
N EW YORK , NYH 3 New
O

sales or share donation (see section 7.2 & section 7.5.2):

N EW H AVEN & York
H ARTFORD (G23) – Another player must own at least 20% of the com-
N ORFOLK & NW 4 Norfolk pany in order for the exchange to take place.
W ESTERN (K19) – The director’s certificate must be exchanged for cer-
R AILWAY tificates of the player with the most shares of the
PR

O NTARIO , OS&H 4 Canada company after the sale or donation, assigning con-
S IMCOE & (A14) trol of the public company and its charter and assets
H URON to that player.
P ENNSYLVANIA PRR 4 Altoona
– The previous director must sell or donate sufficient
R AILROAD (H16)
shares of the public company such that they own
WABASH WAB 3 Louisville
fewer shares of the public company than the new di-
R AILROAD (H6)
rector after the sale.
Table 13.1: Public companies ∗ In the case of a tie among other players for the
most shares after the sale or donation, the next
tied player in player number card order from the
current director becomes the new director.

Date: 2019-11-28 Page: 23 of 28 Version: 0.1-132-g31012eb

14 Track Tiles 1828 English Rules 13.4 Systems

13.4 Systems 14.2 Track types

• Pairs of public companies can merge during Stock Rounds
• Outside of colour, there are three types of track tiles:
into systems (see section 7.5).
• A system has: City Have one or more white circles for station markers
and a revenue value (number in a small white cir-
– All the assets of the component public companies.
cle). Only city track tiles can be used on city map

PE
– Two public company charters placed partially atop hexagons, and they cannot be used on any other map
one another, each charter representing a “shell”. hexagons.
∗ Trains are allocated to and placed in a specific
Baltimore City: Are marked with “Baltimore” and
shell (see section 15.4).
have a higher revenue. Only Baltimore city
– A single combined treasury. track tiles can be used on the Baltimore (H22)
– Two home stations (see section 8.3), one from each hexagon, and they cannot be used on any other
of the constituent public companies (see table 13.1). map hexagons.
– A 10% share in its treasury placed there during the Boston City: Are marked with “Boston” and have a

TY
formation of the system (see section 7.5) that pays higher revenue. Only Boston city track tiles can
dividends to the system’s treasury and cannot be be used on the Boston (E28) hexagon, and they
bought or sold or otherwise removed from the trea- cannot be used on any other map hexagons.
sury. OO City: Have two distinct cities on the same tile
• Systems are otherwise subject to the same rules as un- and are marked “OO” but are otherwise the
merged public companies. same as a normal city track tile. Only OO
city track tiles can be used on hexagons marked
Exception: Systems can’t merge again (see section 7.5). “OO”, and they cannot be used on any other
Exception: Systems can place more track tiles than un- map hexagons.
TO
merged public companies in Operating Rounds (see NY City: Are marked with “NY” and have a higher
section 8.3.1). revenue. Only NY city track tiles can be used
Exception: Systems can emergency buy trains differ- on the New York (G25) map hexagon, and they
ently than un-merged public companies (see [Link], cannot be used on any other map hexagon.
section 15.4 & section 13.4).
Town: Have a small cross-bar marking the town with a
line of track passing through it, and a revenue value
(number in a small white circle). Only town track
14 Track Tiles tiles may be placed on town map hexagons, and they
O

cannot be used on any other map hexagons.

14.1 Track tiles overview
Double town: Have two distinct track lines, each of
• There are yellow, green and brown track tiles. which has a small cross-bar marking the sepa-
rate towns. Only double town track tiles may be
• Track tiles are limited to those available in the supply. placed on such map hexagons, and they cannot
PR

be used on any other map hexagons.

• At the beginning of the game only yellow track tiles are
available. Tunnel: Only a yellow #4 town track tile may be
placed in the Virginia Coalfields Tunnel (K13).
• Yellow track tiles are placed directly on rural and city Once a track tile is placed on the Virginia Coal-
hexagons of the map. fields Tunnel (K13), it is treated as a town (see
[Link]).
• Green track tiles upgrade/replace yellow track tiles and
yellow map hexagons. Plain Have one to four lines of track without towns or
• Brown track tiles upgrade/replace green track tiles. cities, that directly connect pairs of edges of the
hexagon. Plain track tiles can be used on rural map
• Upgraded track tiles are returned to the supply for later hexagons, and they cannot be used on any other map
use. hexagons.

Version: 0.1-132-g31012eb Page: 24 of 28 Date: 2019-11-28

14.3 Track placement & upgrades 1828 English Rules 14 Track Tiles

14.3 Track placement & upgrades – Place a track tile or station marker that cannot trace a
route to one of the company’s station markers with-
14.3.1 Track placement overview out passing through the Virginia Coalfields (see sec-
tion 8.3.2).
• Only yellow track tiles are available at the beginning of – Have one of its train routes end at or pass through
the game. Later in the game green and brown track tiles the Virginia Coalfields (K11) (see section 15.2).
become available (see table 4.1 & section 14.3.2).

PE
• Track tiles can be placed on the towns, cities and ru-
[Link] Virginia Coalfields Tunnel
ral hexagons of the map and cannot be placed on red
off-board hexagons, or gray pre-built hexagons (see sec-
tion §11). • Only a #4 yellow town tile may be placed on the Virginia
Coalfields Tunnel (K13).
• After placing or upgrading a track tile the placing share
company must be able to trace a continuous line of track – The tile must be placed matching the line pre-drawn
from one of its station markers to a line of track on the on the hexagon.
placed track tile without: – There is a terrain cost of $120 (mountain).

TY
– Passing through a city with all of station-marker – The building company is automatically awarded the
spaces filled with other companies’ station or block- coal token placed there during setup (see section §4
ing station markers. & section §16):).
– Passing through the Virginia Coalfields (K11) if the ∗ If the company already has a coal token it must
public company doesn’t already own a coal token. return one of them to the supply on the Virginia
Coalfields (K11).
– Crossing any hexagon-edge twice.
• Once a track tile is placed on the Virginia Coalfields Tun-
• Track tiles must not be placed such that a line of track: nel (K13), it is treated as a town (see section 15.2).
TO
– Already present is not preserved by the new track
tile. (Only the connectivity is important, not the ex-
14.3.2 Upgrading track
act shape of the line of track)
– Runs off the edge of the map (no further hexagons). • Starting in green phase:
– Runs to the edge of a gray pre-built hexagon that – Share companies may upgrade yellow track tiles and
doesn’t have pre-printed track running to it. yellow map hexagons to green track tiles (see ta-
– Runs to the edge of a red off-board hexagon that ble 4.1).
doesn’t have a black triangle/arrow to indicate a con-
• Starting in brown phase:
O

tinuation for the track.

– Runs into a blue barrier between hexagons (see sec- – Share companies may also upgrade green track tiles
tion §11). to brown track tiles (see table 4.1).
• A company placing a track tile on a river ($80) or moun- • When upgrading a track tile:
PR

tain ($120) hexagon that has not previously contained a

track tile must pay the terrain cost from its treasury to the – The type of the track tile cannot be changed.
bank before placing the tile (see section §11). – Connections of pairs of hexagon edges by lines of
track must be preserved.
– Once a track tile of a given type is placed in a
hexagon, terrain costs for the hexagon are not paid – Connections of city circles to hexagon edges by lines
again in future tile upgrades. of track must be preserved.
– A share company cannot upgrade a track tile it has
previously upgraded or placed in that same Operat-
[Link] Virginia Coalfields
ing Round.

• A share company that does not own a coal marker (see • The upgraded track tile is returned to the supply for future
section §16) cannot: use.

Date: 2019-11-28 Page: 25 of 28 Version: 0.1-132-g31012eb

15 Trains & Running Trains 1828 English Rules

• Once track tile on a river or hill hexagon is upgraded, the – Must pass through a city containing one of the own-
terrain cost is not paid again (see section §11). ing share company’s station makers.

• Station markers are moved to their corresponding loca- – Can pass through a city with an open station marker
tions on the new tile when upgrading a track tile or location.
hexagon. – Can use multiple entirely separate lines of track on
the same tile.
Note: Track tiles such as #16, #19, #20 etc and parts

PE
15 Trains & Running Trains of #43, #44, #45 & #46 etc represent railway
bridges and thus lines of track that do not inter-
sect.
15.1 Trains overview
– Can enter a city from one direction and exit in any
• Public companies and systems run and buy trains during other connected direction.
Operating Rounds (see section 8.3.3 and section 8.3.5). • Additionally, a route cannot:
• Public companies and systems run trains on “routes” to – Cross the same hexagon-edge more than once.

TY
generate revenue (see section 8.3.3).
– Use the same piece of track on a track tile more than
• Different types of trains have different restrictions for once (no matter how small the track section may be).
their routes (see section 15.3). – Pass through a city that doesn’t have an open sta-
tion marker location and doesn’t contain owning the
• The number of trains a share company can own is con-
share company’s station marker.
trolled by the train limit (see section 15.4).
– Run to or through the same revenue center more than
• Share companies with a route from one of their station once.
markers to another revenue center must own at least one Exception: But can run to or through both cities on
train at the end of their turn in an Operating Round (see
TO
“OO” track tiles or multiple cities in New York
section 15.2 & section [Link]) (G24) (see section 14.2).
• Trains are available from the supply in colour order: Note: The Canada off-board is comprised of two
hexagons (A13 & A15).
– First yellow, then green, blue, brown, red, gray and – Run to or though the Virginia Coalfields (K11) if the
finally purple. company doesn’t own a coal token.
– All the trains of a given colour must be bought from
the supply before the trains of the next colour are • The routes of multiple trains run by the same share com-
available (see section 8.3.5 & table 4.1). pany during an Operating Round cannot share or re-use
any line of track.
O

• Trains are purchased one at a time with any phase changes

occurring before the company purchases any more trains – The routes can meet or cross at cities provided that
in that Operating Round. they use entirely separate sections of track.
• Off-board triangle connections are termini. Routes may
• The purchase of trains of new types causes phase changes
PR

not run to an off-board location via one black triangle and

and may change the train limit (see table 4.1 & sec-
proceed back onto the board via another.
tion 15.4).

15.3 Running trains by train-type

15.2 Route definition
15.3.1 N trains
• A route is a single continuous line of track that:

– Contains at least two revenue centers (town, city, • The route for an N train (where N is 2, 3, 5 or 6) cannot
coalfield or off-board location) (see section §11). contain more than a total of N revenue centers, where N is
the number on the train card.
– Can begin or end at a town, city, coalfield or off-
board. Revenue: The sum of all the revenue centers on the route.

Version: 0.1-132-g31012eb Page: 26 of 28 Date: 2019-11-28

15.4 Train limit 1828 English Rules 17 Game Phases

15.3.2 3+D trains 16 Coal Markers

• The route for a 3+D train cannot contain more than a total
of 3 cities, coalfield or off-board locations. There may be
16.1 Coal marker overview
any number of towns on the route; before, between and
• Share companies can acquire a coal marker either by:
after any other revenue centers on the route.
– Having a track connection from one of their sta-
Revenue: Double the sum of all the revenue centers on tion markers to the Virginia Coalfields (K11), pay-

PE
the route. ing $120 from their treasury to the bank, and taking
one of the coal markers placed there (see section §4
& [Link]).
15.3.3 8E trains
Or:
• The route for an 8E train cannot contain more than a total
of 8 cities, coalfield or off-board locations. There may be – Placing a track tile on the Virginia Coalfields Tun-
any number of towns before, between and after any other nel (K13), paying the terrain cost, and taking the
marker placed there (see section §4 & section 14.3

TY
revenue centers on the route:
& [Link]).
Revenue: The sum of all the cities, coalfield or off-
• The supply of coal markers is limited to 3.
boards on the route (but not the towns).
• A share company may not own or buy more than one coal
marker.
15.3.4 Diesel trains
– If a share company that already owns a coal marker
• The route for a Diesel train may contain an unlimited places a track tile on the Virginia Coalfields Tun-
number of revenue centers. nel (K13), the coal marker on the Virginia Coalfields
TO
Tunnel (K13) is moved to the supply on the Virginia
Revenue: The sum of all the revenue centers on the route. Coalfields (K11) (see [Link] & [Link]).

• A share company that does not own a coal marker cannot:

15.4 Train limit – Place a track tile or station marker that cannot trace a
route to one of the company’s station markers with-
• The number of trains a share company or system shell out passing through the Virginia Coalfields (see sec-
can own is limited by the game phase (see [Link] & sec- tion 14.3 & section 8.3.2).
tion §17 & section 13.4).
– Have one of its train routes end at or pass through
O

– A public company can own trains up to the current the Virginia Coalfields (K11) (see section 15.2).
train limit
– Each shell of a system can own trains up to the cur-
rent train limit. 17 Game Phases
PR

• A public company or system shell that has not reached its 17.1 Yellow phase
train limit may buy trains that would cause it to exceed
the train limit after the game phase change caused by the • The game begins in yellow phase.
purchase takes effect.
• Yellow pars are available.
• Train limits are checked and enforced on all public com-
panies and system shells as trains are bought. • Yellow track tiles are available.

– A public company or system shell with more trains • Yellow trains are available.
than the current train limit must discard its trains • Train limit is 4.
from the game until it is within the current train
limit. • There is 1 Operating Round per set after Stock Rounds.

Date: 2019-11-28 Page: 27 of 28 Version: 0.1-132-g31012eb

17 Game Phases 1828 English Rules 17.2 Green phase

17.2 Green phase 17.5 Red phase

• Green phase starts with the purchase of the first green • Red phase starts with the purchase of the first red train.
train. • All private companies close.

• Private companies may be bought by public companies. • Brown, blue, green and yellow pars are available.
• Brown, green and yellow track tiles are available.

PE
• Green and yellow pars are available.
• Revenue centers with multiple values use the second
• Green and yellow track tiles are available. (brown) value.
• All green trains are removed from the game.
• Train limit is 4.
• Train limit is 2.
• There are 2 Operating Rounds per set after Stock Rounds. • There are 3 Operating Rounds per set after Stock Rounds.

TY
17.6 Gray phase
17.3 Blue phase
• Gray phase starts with the purchase of the first gray train.
• Blue phase starts with the purchase of the first blue train.
• Brown, blue, green and yellow pars are available.
• Private companies may be bought by public companies. • Brown, green and yellow track tiles are available.
• Revenue centers with multiple values use the second
• Blue, green and yellow pars are available. (brown) value.
• Green and yellow track tiles are available. • All blue trains are removed from the game.
TO
• Train limit is 2.
• All yellow trains are removed from the game.
• There are 3 Operating Rounds per set after Stock Rounds.
• Train limit is 4.
17.7 Purple phase
• There are 2 Operating Rounds per set after Stock Rounds.
• Purple phase starts with the purchase of the first purple
train.
O

17.4 Brown phase • Director’s certificates cannot be bought from the IPO.

• Brown phase starts with the purchase of the first brown • Blocking station markers are placed in the home stations
train. of all un-parred companies at the start of the first Stock
Round in purple phase.
PR

• Private companies may be bought by public companies. • Brown, green and yellow track tiles are available.

• Brown, blue, green and yellow pars are available. • Revenue centers with multiple values use the second
(brown) value.
• Brown, green and yellow track tiles are available. • All brown trains are removed from the game.
• Train limit is 2.
• Revenue centers with multiple values use the second
(brown) value. • There are 4 Operating Rounds per set after the Stock
Round.
• Train limit is 3.
• The game ends after the first set of Operating Rounds in
purple phase.
• There are 3 Operating Rounds per set after Stock Rounds.

Version: 0.1-132-g31012eb Page: 28 of 28 Date: 2019-11-28