1817NA

1817NA — Summary

Capitalization type

• Incremental capitalization, same as base 1817: the company collects the par price each time one of its shares is actually sold.

Floating percentage and per-player share limits

• Companies float with 20% of shares sold (single threshold for all corporations), same as base 1817
• No player may hold more than 100% of a single corporation (the classic 60% cap doesn't apply)
• Certificate limit per player: 2 players — 21; 3 players — 16; 4 players — 13; 5 players — 11; 6 players — 9

Starting cash by player count

• 2 players: $420 starting cash
• 3 players: $315 starting cash
• 4 players: $252 starting cash
• 5 players: $210 starting cash
• 6 players: $180 starting cash
• The bank is practically unlimited (no fixed size)

End game triggers

• The final phase is reached (phase 8, triggered by the purchase of the first 8-train): one more full set of operating rounds is played, then the game ends
• A player goes bankrupt: immediate end, but only once all players but one have gone bankrupt

Number of phases

• 8 phases (2, 2+, 3, 4, 5, 6, 7, 8), triggered by the purchase of the first train of each type, with the same maximum-corporation-size progression as base 1817 (2 shares → 5 → 10)

Train list and prices

• 2 train — $100 (31 units; rusts once the first 4-train is bought)
• 2+ train — $100 (3 units; becomes obsolete once the first 4-train is bought, but isn't removed)
• 3 train — $250 (8 units; rusts once the first 6-train is bought)
• 4 train — $400 (6 units; rusts once the first 8-train is bought)
• 5 train — $600 (4 units; never rusts)
• 6 train — $750 (3 units; never rusts)
• 7 train — $900 (2 units; never rusts)
• 8 train — $1,100 (unlimited; buying it triggers the game's final phase)

List of private companies

• Denver Telecommunications (DTC) — $40 — may place a special yellow tile at Denver (F14) regardless of connectivity
• Mountain Engineers (ME) — $40 — the owning corp receives $20 after laying a yellow tile on a mountain hex
• Union Bridge Company (UBC) — $80 — two $10 bridge tokens at Winnipeg or New Orleans; skips the $10 river fee
• Train Station (TS) — $80 — an extra station marker for the owning corp
• Minor Coal Mine (MINC) — $30 — one mine marker; avoids mountain terrain cost and adds $10 extra revenue (doesn't count as a stop)
• Major Coal Mine (MAJC) — $90 — three mine markers (same ability)
• Minor Mail Contract (MINM) — $60 — pays $10 at the start of each operating round while the corp has a train
• Major Mail Contract (MAJM) — $120 — pays $20 at the start of each operating round

List of corporations

• 15 corporations (a fixed subset of base 1817's 20, not a random draw each game), all sharing the same format (floats at 20%, 100% of capital convertible from 2 to 5 and from 5 to 10 shares), with no fixed home
• Delaware, Lackawanna and Western Railroad (DL&W), Elgin, Joliet and Eastern Railway (J), Grand Trunk Western Railroad (GT), Housatonic Railroad (H), Morristown and Erie Railway (ME), New York, Ontario and Western Railway (NYOW), New York, Susquehanna and Western Railway (NYSW), Pittsburgh, Shawmut and Northern Railroad (PSNR), Pittsburgh and Lake Erie Railroad (PLE), Providence and Worcester Railroad (PW), Rutland Railroad (R), Strasburg Railroad (SR), Union Railroad (UR), Warren & Trumbull Railroad (WT), West Chester Railroad (WC)

Game-specific mechanics

• Corporate loans with variable interest, as in 1817, but the interest rises every 4 loans in circulation (instead of every 5 in base 1817)
• Initial private auction funded with $150 of "seed" money (less than base 1817's $200)
• Short selling: you can sell shares you don't own
• Dedicated merger and acquisition rounds (friendly or hostile) between operating companies
• 2-share "minor" companies that over time convert into 5-share, and later 10-share, companies
• Private companies never close: they keep generating revenue for the whole game
• A player who can't cover their own personal debts can be eliminated from the game

Emergency sell

Same as 1817: there's no train-related emergency sell mechanism, and the Cash Crisis forced-share-sale rule still applies only to unpaid loan interest or short-sale obligations. This official variant only trims the numbers — starting cash ($150 instead of $200) and a faster interest-rate ramp (climbing every 4 loans instead of 5).

Comparison with 1830

1. Setting, map and number of players
1830 covers the northeastern USA for 2-6 players. 1817NA keeps 1817's continental scope (all of North America) but on a much smaller map, with many cities reduced to simple "population zones" to keep things balanced. Unlike 1817, which wants 5-7 players, 1817NA works from as few as 2 up to 6 players — the same range as 1830.

2. "Minor" companies that merge up, but from a trimmed roster
As in 1817, there are 2-share "minor" companies that can be merged into 5-share and later 10-share companies, a progression that doesn't exist in 1830. 1817NA trims the total roster down to a fixed set of 15 companies (a subset of base 1817's 20), rather than the original game's full 20.

3. Corporate loans with variable interest
Absent from 1830: as in 1817, companies can take out loans that accrue interest, and the more debt circulates, the higher the general rate climbs. In 1817NA this interest rises every 4 loans in circulation (instead of every 5 in base 1817), with an initial auction funded by $150 of seed money.

4. Short selling
As in 1817 (and unlike 1830, where you can only sell what you actually own), players can short sell shares they don't hold, betting the price will drop.

5. Mergers, hostile takeovers and liquidations
Just like in 1817: dedicated rounds where two companies sharing a president merge amicably, while different presidents trigger a hostile takeover, with liquidation possible if debts can't be covered. None of this exists in 1830.

6. A private company roster rebuilt for the whole continent
1830 has 6 traditional privates. 1817NA uses 8, a smaller set than base 1817's 11: Denver Telecommunications (tied to Denver) replaces Pittsburgh Steel Mill, and the small Ohio Bridge Company, the mid-tier Coal Mine and the mid-tier Mail Contract are all gone. As in 1817, none of these privates ever close during the game.

7. Financial risk and personal elimination, as in 1817
Just like 1817 (and unlike 1830, where bankruptcy only affects the company): the combination of loans, short selling, and hostile takeovers can leave an 1817NA player unable to cover their own debts and get eliminated from the game.