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1822: The Railways of Great Britain

Designer: Simon Cutforth

The full 1822: all of Great Britain in constant auction of privates, minors, and major company concessions.

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1822: The Railways of Great Britain Contents

How it works

Setup
  • £12,000 bank; £2,100 split among the players (£525 each with 4)
  • Three shuffled stacks: major concessions ([LNWR] on top), minors ([M24] on top) and privates ([P1] on top)
  • Bid boxes: 4 minors, 3 concessions and 3 privates
  • Each player gets bid tokens (5 with 4 players) and a random turn order number
  • The stock round starts with only L and 2 trains for sale
Stock round ×1
  • Turn: sell major shares, repay loans, then one of these:
  • · buy a share of a major
  • · convert a concession (from phase 2)
  • · place up to 3 bids in the bid boxes
  • At the end, each winning bidder pays and takes the certificate
  • Next order: most to least cash in hand
Operating round ×1-2
  • Private and concession income (£10)
  • Minors first, then majors, highest share price first:
  • 1. Acquire privates from a player
  • 2. Track: 1 yellow (minor) or 2 yellows / 1 upgrade (major)
  • 3. Destination and one station (£100), majors only
  • 4. Run trains: minors split 50/50
  • 5. Buy trains (mandatory if it has none)
  • 6. Absorb a minor and issue or redeem shares (majors)
↻ Repeats until the end
End
  • The bank runs out: the game ends after that set of operating rounds
  • A share reaches £700: the game ends after that operating round
  • If nothing sells in the first stock round, it ends immediately
  • Most cash plus shares at market value wins (privates and companies don't count)

Components

Players
  • Cash and bid tokens
  • Concessions, minor certificates (50%) and major shares
  • Privates (worth 0, but with income or a power)
  • Emergency loans at 50%
Minors
  • 24 minors, one station each
  • Start at £50 with £100 in phase 1
  • 1 yellow or green tile per turn
  • Revenue always split with the director
Majors
  • 10 majors, each with its own destination
  • Born by converting the concession (phases 2-4) or by selling 50% (from phase 5)
  • Incremental capitalisation; full from phase 6
  • Absorb minors and inherit their cash, trains and station
Bank
  • £12,000
  • New trains and the used-train market
  • Pays private and concession income

Where the money goes

  • Players Bank Winning bids (until phase 2, the bank puts up the minor's capital)
  • Players Majors Converting a concession and buying shares from the treasury
  • Minors Players Half the minor's revenue
  • Majors Players Dividends and cash paid to absorb a minor
  • Majors Bank Trains, terrain and stations
  • Bank Players Private and concession income, and share sales

Phases

1
Start
L · £60 · 2 · £120
1 operating round; minors at £50 with £100
2
1st 2-train
L · 2
2 operating rounds; concessions can be converted
3
1st 3-train
3 · £200
L trains rust; trains between companies
4
1st 4-train
4 · £300
2s rust; limit of 3 trains per major and 1 per minor
5
1st 5-train
5 · £500
Concessions are removed; majors float at 50%
6
1st 6-train
6 · £600
3s rust; full capitalisation
7
1st 7 / E train
7 · £750 or E · £1,000
4s rust
  • Every company comes out of the auction: there's no fixed opening.
  • Minors are the seeds of the majors: absorbing them brings ready-made track, stations and cash.

A round, step by step

Illustrative example built from two rulebook examples (v2.0): the auction where minor [M19] in Cardiff is won for £140, and its first track towards Swansea. 4 players with £525. We follow [PL1], who also wins the [SWR] concession, home in Gloucester, and uses it to absorb their minor.

  1. Before starting The bid boxes Phase 1

    The bid boxes hold 4 minors ([M24] in the first), 3 concessions ([LNWR] in the first) and 3 privates. Each player has 5 bid tokens and can look at the order of the stacks: you know what's coming up in the next auctions.

    If the minor in box 1 gets no bid, it leaves the game and takes a train from the bank with it.

    [PL1] cash
    £525
    [M19] treasury
    —
    [M19] share price
    —
    [SWR] treasury
    —
    [SWR] share price
    —
  2. Stock round 1 Bids in one turn Phase 1

    [PL1] puts a token on [M19] (£100, face value) and another on the [SWR] concession (£100). They don't pay anything yet: bids only commit money, and never more than you have.

    A bid can't be withdrawn or moved to another lot, even if someone outbids it.

    [PL1] cash
    £525
    [M19] treasury
    —
    [M19] share price
    —
    [SWR] treasury
    —
    [SWR] share price
    —
  3. Stock round 1 The fight for Cardiff Phase 1

    [PL2] raises [M19] to £120. On their next turn, [PL1] raises their token to £140. Nobody else joins in.

    You can only move a token you've already placed if another player has bid higher.

    [PL1] cash
    £525
    [M19] treasury
    —
    [M19] share price
    —
    [SWR] treasury
    —
    [SWR] share price
    —
  4. Stock round 1 End of round: time to pay Phase 1

    When everyone passes in a row, the auctions are resolved. [PL1] pays £140 for [M19] and £100 for the concession. In phase 1, whatever the bid, the minor starts at £50 with £100 put up by the bank.

    Order for the next stock round is most to least cash: spending big now means playing late later.

    [PL1] cash
    £285
    [M19] treasury
    £100
    [M19] share price
    £50
    [SWR] treasury
    —
    [SWR] share price
    —
  5. Operating round 1 Income and [M19]'s first turn Phase 1

    The concession pays [PL1] £10. [M19] is the first minor to operate because it had the highest bid. It places its station in Cardiff and, as the first step of its first turn, buys an L train for £60.

    Only a minor on its first turn may buy an L before running.

    [PL1] cash
    £295
    [M19] treasury
    £40
    [M19] share price
    £50
    [SWR] treasury
    —
    [SWR] share price
    —
  6. Operating round 1 Track towards Swansea, revenue split Phase 1

    It lays a yellow between Cardiff and Swansea. The L train runs within Cardiff: £30. A minor always splits: £15 for [PL1] and £15 to the treasury. Since it pays out, the share price moves up one space, to £60.

    An L train only counts one city with its own station and, if it wants, one town.

    [PL1] cash
    £310
    [M19] treasury
    £55
    [M19] share price
    £60
    [SWR] treasury
    —
    [SWR] share price
    —
  7. Rounds 2 and 3 Two more laps in phase 1 Phase 1

    In stock rounds 2 and 3 [PL1] can't convert the concession (it's still phase 1) and passes. In each of the two operating rounds the concession pays them £10 and [M19] makes £30 again, split in half. The minor reaches a £80 share price and £85 in the treasury.

    In phase 1 there's just one operating round between stock rounds.

    [PL1] cash
    £360
    [M19] treasury
    £85
    [M19] share price
    £80
    [SWR] treasury
    —
    [SWR] share price
    —
  8. Operating round 3 [M19] opens phase 2 Phase 2

    After paying out, [M19] pays the bank £80 and flips its L train: it's now a 2-train. It's the first 2-train of the game and phase 2 begins: concessions can be converted and, after the next stock round, there'll be two operating rounds.

    Upgrading an L to a 2 counts as buying a train.

    [PL1] cash
    £360
    [M19] treasury
    £5
    [M19] share price
    £80
    [SWR] treasury
    —
    [SWR] share price
    —
  9. Stock round 4 Converting the concession Phase 2

    [PL1] flips the concession and gets the [SWR] director's certificate (20%). They choose a £100 par. The bank puts in £100 and [PL1] the rest up to double the price: 2 × 100 − 100 = £100. The [SWR] floats with £200.

    Converting is the whole action for the turn: you can't buy a share on the same turn.

    [PL1] cash
    £260
    [M19] treasury
    £5
    [M19] share price
    £80
    [SWR] treasury
    £200
    [SWR] share price
    £100
  10. Stock round 4 One more share Phase 2

    On another turn, [PL1] buys a 10% share from the [SWR] treasury for £100, which goes to the company. They now hold 30%.

    Incremental capitalisation: every share sold from the treasury pays its price to the company.

    [PL1] cash
    £160
    [M19] treasury
    £5
    [M19] share price
    £80
    [SWR] treasury
    £300
    [SWR] share price
    £100
  11. Operating round 4.1 [M19] with a 2-train Phase 2

    The concession no longer pays: it's a company now. [M19]'s 2-train runs Cardiff to Swansea: 30 + 20 = £50. £25 for [PL1], £25 to the treasury, and the share price moves up to £90.

    [PL1] cash
    £185
    [M19] treasury
    £30
    [M19] share price
    £90
    [SWR] treasury
    £300
    [SWR] share price
    £100
  12. Operating round 4.1 The [SWR] starts in Gloucester Phase 2

    The [SWR]'s first turn: it places its home station and leaves its destination token (Fishguard) on the charter. Gloucester is an empty circle worth 0, and it lays a yellow city there, paying £40 for terrain.

    In phase 2 a major can only lay one yellow per turn; two from phase 3.

    [PL1] cash
    £185
    [M19] treasury
    £30
    [M19] share price
    £90
    [SWR] treasury
    £260
    [SWR] share price
    £100
  13. Operating round 4.1 No train, move left Phase 2

    No train, no revenue: the share price moves one space left, to £90. Then it buys a 2-train for £120, because a company must end its turn owning a train.

    [PL1] cash
    £185
    [M19] treasury
    £30
    [M19] share price
    £90
    [SWR] treasury
    £140
    [SWR] share price
    £90
  14. Operating round 4.2 [M19] reaches £100 Phase 2

    [M19] makes another £50 and gives [PL1] £25. The share price reaches £100: the minor is now worth double that, £200.

    [PL1] cash
    £210
    [M19] treasury
    £55
    [M19] share price
    £100
    [SWR] treasury
    £140
    [SWR] share price
    £90
  15. Operating round 4.2 Newport links the two Phase 2

    The [SWR] lays a yellow in Newport (£20 terrain), connecting Gloucester to Cardiff. The 2-train runs Gloucester + Newport: £30. It pays out: [PL1] gets £9 for their 30%, and the £21 for the 70% still in the treasury goes to the company.

    A dividend below the share price doesn't move it; matching it moves it up one space.

    [PL1] cash
    £219
    [M19] treasury
    £55
    [M19] share price
    £100
    [SWR] treasury
    £141
    [SWR] share price
    £90
  16. Operating round 4.2 The [SWR] absorbs [M19] Phase 2

    There's now track from Gloucester to Cardiff, and neither company is on its first turn: the [SWR] can absorb [M19]. It pays the £200 with 2 shares (2 × £90 = £180) plus £20 in cash to [PL1]. It inherits [M19]'s £55 and its 2-train, and swaps the Cardiff station for one of its own.

    The major can put in 0, 1 or 2 shares; if they're worth more than the minor, the director pays back the difference.

    [PL1] cash
    £239
    [M19] treasury
    —
    [M19] share price
    —
    [SWR] treasury
    £176
    [SWR] share price
    £90
  17. Towards stock round 5 What now? Phase 2

    [PL1] owns 50% of the [SWR], now in Gloucester and Cardiff with two 2-trains. With £239 they can bid on a new minor. The plan: stretch the track to Fishguard, the destination, which counts double if a train reaches it from home, before the first 4-train rusts the 2s.

    [PL1] cash
    £239
    [M19] treasury
    —
    [M19] share price
    —
    [SWR] treasury
    £176
    [SWR] share price
    £90

1822: The Railways of Great Britain — Summary

Capitalization type

  • Incremental capitalization by default: the company collects the par price each time one of its shares is actually sold.
  • Once the first 6-train is bought (phase 6), majors that float from then on switch to full capitalization (they receive all their capital at once; the remaining 5 treasury shares go straight to the market).

Floating percentage and per-player share limits

  • Minors float once their single share (100%) is sold; majors float at 20%, except the London and North Western Railway (LNWR), which starts with shares already placed and floats at just 10%
  • No player can hold more than 100% of a minor, since it only has one share; majors use the classic default 60% cap
  • Certificate limit per player: 2 players — 33; 3 players — 26; 4 players — 20; 5 players — 16; 6 players — 13; 7 players — 11

Starting cash by player count

  • 2 players: £900 starting cash
  • 3 players: £700 starting cash
  • 4 players: £525 starting cash
  • 5 players: £420 starting cash
  • 6 players: £350 starting cash
  • 7 players: £300 starting cash
  • The bank always starts with £12,000, regardless of player count

End game triggers

  • The bank runs out of money: the current full operating round set is finished (or the next operating round, if it happens during a stock round)
  • A share price reaches the market cell marked "e" (700e): the game ends at the next end of an operating round
  • If nobody sells a single share in the very first stock round: immediate end (an exceptional safeguard)
  • Bankruptcy is disabled in this game (BANKRUPTCY_ALLOWED = false): it's not an end-game mechanism

Number of phases

  • 7 phases (1 through 7), triggered by the purchase of the first train of each type
  • Different train limits for minors and majors in each phase (for example, in phase 1: 2 for a minor, 4 for a major)
  • Phase 2: concessions can be converted into major companies
  • Phase 5: buying the first 5-train closes all unconverted concessions without compensation, and pending majors switch to floating at 50%
  • Phase 6: buying the first 6-train gives majors that float from then on full capitalization
  • Phase 7: buying the first 7-train closes privates P15 and P20 (phase-multiplied revenue) if they haven't been acquired yet

Train list and prices

  • L train — £60 (22 units; rusts once the first 3-train is bought); can be converted into a "2" train for £80 before it rusts (own variant, distance 2, £120, available from phase 1, rusts once the first 4-train is bought)
  • 3 train — £200 (9 units; rusts once the first 6-train is bought)
  • 4 train — £300 (6 units; rusts once the first 7-train is bought)
  • 5 train — £500 (3 units; buying it closes all pending concessions)
  • 6 train — £600 (3 units; buying it triggers full capitalization for new majors)
  • 7 train — £750 (unlimited; express variant "E", unlimited distance, ×2 multiplier, £1,000; buying it closes phase-revenue privates if not yet acquired)
  • Special trains granted by privates (not bought on the market): 2P (permanent 2-train, free, 2 units), LP (permanent L-train, free, 1 unit), 5P (extra 5-train, £500, 1 unit), P+ (Pullman car that upgrades a train into a "+" train, free, 2 units)

List of private companies

  • 21 privates (P1-P21), with no fixed price: they're won in a simultaneous auction using limited bidding tokens, not bought for a set starting price.
  • P1 (a normal 5-train), P2 (removes a small station, closes when used), P3 and P4 (permanent 2-trains), P5 (free token in the English Channel), P6 and P7 (mail contracts, +50% of a train's station values), P8 (discount on hills/mountains, or a free rough-terrain token), P9 (declares double cash on hand for turn order, or variable revenue if owned by a company), P10 (discount and free tokens on rivers/estuaries), P11 (advances access to the next tile color), P12 (extra tile or additional upgrade), P13 and P14 (Pullman cars), P15 (revenue ×10 per phase, closes in phase 7), P16 (Tax Haven: can never be acquired, buys shares for the owning player without counting against the 60% limit), P17 (moves a card within the concessions/minors/privates stack), P18 (swaps an exchange token for an available one), P19 (permanent L-train, from phase 1), P20 (revenue ×5 per phase, closes in phase 7), P21 (free construction of the Grimsby-Hull bridge)

List of corporations

  • 10 major companies (10 shares each), each founded by converting a "concession" (C1-C10) won at auction: London and North Western Railway (LNWR) — London/M38; Great Western Railway (GWR) — London/M38; London, Brighton and South Coast Railway (LBSCR) — London/M38; South Eastern & Chatham Railway (SECR) — London/M38; Caledonian Railway (CR) — Glasgow/E6; Midland Railway (MR) — J29; Lancashire & Yorkshire Railway (LYR) — G22; North British Railway (NBR) — Edinburgh/H5; South Wales Railway (SWR) — H33; North Eastern Railway (NER) — L19
  • Up to 24 "minor" companies (M1-M24, and up to 30 with the 1822+ expansion), each a single-token 2-share company also won at auction and scattered across the whole map (Aberdeen, the Highlands, Edinburgh, Newcastle, Darlington, Barrow, Warrington, Sheffield, Grimsby, Birmingham, Peterborough, Ipswich, Maidstone, London, Southampton, Bournemouth, Cardiff, Pontypool, Merthyr Tydfil, Exeter, Cornwall, Swansea, Norwich, Hull, and with the expansion also Glasgow, Carlisle, Mid Wales and Plymouth). Minors can eventually merge into a major.

Game-specific mechanics

  • Every stock round opens with a simultaneous auction of privates, minors, and major concessions, with limited bidding tokens per player that force you to choose which auctions to compete in
  • A minor's par price isn't chosen by its founder: in phase 1 it's fixed (50); from phase 2 onward it comes from the winning bid (up to 200 treasury / 100 par)
  • Minors can merge into a major (after operating at least once), bringing their already-built track along; payment can be in treasury shares and/or cash
  • Stock round priority order is determined by how much cash each player has on hand, not a fixed turn order
  • Initial "L" trains (a single station) convertible into 2-trains for £80 before they rust

Emergency sell

Unlike 1830, running out of options here doesn't end in bankruptcy — it ends in debt. Four tiers apply in strict order: first the company's own treasury; then the director's personal cash; then, if that's still short, Emergency Money Raising — the director must sell their own shares (of any company they hold, in any order, at that turn's starting market price) until enough cash is raised, though their own certificate in the company being funded can never be sold; and only if even that fails does the director take a bank loan for the remainder, at a steep 50% interest (rounded up), which keeps compounding every stock round and locks the player out of buying shares or bidding until it's repaid. One more twist: if the company is instead forced to buy a train from another company rather than the bank, the director can't contribute any personal cash at all — the company has to manage alone.

Comparison with 1830

1. Setting and map
1830 covers the northeastern USA. 1822 takes place across all of Great Britain (England, Wales and Scotland), with a very extensive map and a much denser network of cities, designed for games of up to 7 players.

2. Everything is bought at auction: privates, minors, and major "concessions"
In 1830 only the privates go up for initial auction; major companies are founded freely afterward. In 1822, in every stock round, privates, "minor" companies (2 shares), and "concessions" to found major companies are all auctioned simultaneously, with limited bidding tokens per player.

3. A minor's par price depends on the auction, it isn't chosen
In 1830 the founder freely chooses the par price. In 1822, in phase 1, a minor always starts at a fixed price of 50, regardless of the winning bid. From phase 2 onward, the money from the winning bid goes into the minor's treasury and sets its par price.

4. Minors merge into majors to create or grow them
This concept doesn't exist in 1830. In 1822, a minor must have operated at least once before it can be absorbed by a major; payment to the minor's shareholder can be made with shares from the major's treasury and/or cash. As a result, many majors are "born" by absorbing infrastructure already built by a minor.

5. Initial "L" trains and conversion to 2-trains
In 1830 the first generation of trains is already the normal 2-city train. In 1822 the game starts with special "L" trains (a single station, cost £60) that can be converted into 2-trains for £80 before they become obsolete. This initial step has no equivalent in 1830.

6. Priority order by cash on hand, not by turn order
In 1830 buying priority in the stock round passes cyclically to the left of the previous buyer. In 1822, stock round priority order is determined by how much cash each player has, which rewards having spent heavily in earlier auctions.

7. Many more companies in play simultaneously
Between privates, minors, and majors available for auction each round, 1822 supports far more active entities at once than 1830, with a much more gradual and staggered pace of expansion.

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