1870: The Trans-Mississippi

10 Trains

A company uses trains to earn income for the company and occasionally, the shareholders.

10.1 Requirement to Own a Train

An operating railway with a legal run of any length (two or more cities or edge destinations) must own a train and is forced to purchase one during this phase if it does not possess one. A company that does not have a valid run is not required to purchase a train.

10.2 Train Limits

A company may purchase a new train if it has room. It may purchase a train provided that it does not cause it to exceed the current train limits. A company may not voluntarily discard or scrap a train to make space for a new train.

10.2.1 Exceeding Train Limits

If buying a train initiates a phase change causing any railway to possess too many trains, then the excess trains from these companies are discarded into the open market without compensation. The president of a company with too many trains, decides which trains to discard.

10.3 Train Obsolescence

Early types of trains become obsolete. Type Two, Three, Four and Five Trains will eventually become obsolete and be scrapped. When they are scrapped, they make room for new trains. When a train is scrapped, you receive no compensation for it. A railway may not voluntarily scrap a train to make space for a new train.

10.4 Train Sources

Trains may be purchased from the bank, the open market, or from other companies. A company is not required to buy a train from another company if it is offered whatever the price.

10.4.1 Bank Trains

The Bank sells new trains.
The Bank will only sell trains in order. Type two trains are available for sale first. After all of the type two trains have been purchased, type three trains are available. Similarly each new type of train is only available after all of the previous type of train has been sold.

10.5 Train Cost

Trains purchased from the bank or open market are purchased at the price printed on the train card.
Trains purchased from other companies may be bought at any price mutually agreed to by the president(s) of the two companies involved. The minimum price is $1. This price need not be revealed to the other players. Train purchases from other companies must be announced to all shareholders in the two companies involved.

10.6 Train Purchase Funds

A company normally pays for a new train with company funds. If the railway must buy a train and does not have enough money to do so, the president must make up the difference from his own cash and, if necessary, from sales of his personal stock.
Once the president contributes to the purchase price of a train, the railway must buy the cheapest train available from the open market or the bank and may not buy a train from another company.

10.6.1 Presidential Contributions

The president may only contribute towards the purchase of a train from his personal holdings if the company is forced to buy a train.

10.6.2 Presidential Stock Sales

If the president is required to sell stock, then these sales may not cause a change in ownership of the company buying the train. It may cause the closure of the company buying the train.

They may cause changes of presidency in other companies.

Normally the president decides what to sell, in what order to sell, and how to sell the shares. As the selling of shares to raise money is a stock market action, all stock market rules including share limits are in effect. If he is over the current stock market share limit, he must first sell down to the share limit.

The president may only sell enough shares to buy the train. He cannot end up with more money than the value of the lowest valued share sold.

   Exception One: if the president is forced to sell a share in a company that he owns more than 60% of and the share value token of that company is not in the green or brown sections of the stock market, he must sell down to the 60% limit. This may cause him to have too much money.

   Exception Two: if the president was forced to sell down to the share limit it is possible for him to end up with too much money.

If the president cannot raise enough money through stock sales he is bankrupt and the game ends.

10.6.3 Company Closure

If the company attempting to buy a train is closed by the presidential sale of stock of that company, the president loses the money he was contributing towards the purchase of a train.

10.7 Last Train

A company may sell its only remaining train.

10.8 No Available Trains

If a company must purchase a train, and there are no new trains available from the bank and there are no trains in the bank pool, the company is doomed. Unless it can arrange to purchase a train from another company, it will slip for no dividends each operating round. In this case the president is not required to contribute to purchase a train.

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Last Modified: December 5, 2010. Copyright 1999-2010. W.R.Dixon.
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