1830: Railways & Robber Barons

1. The reference game of the 18xx genre
1830 (Bill Dixon, Francis Tresham and Tom Lehmann, 1986) is the title that established the 18xx genre as we know it today. Practically every other title in the series (1817, 1846, 1822, 18Chesapeake, etc.) is still defined and explained today as a variation on this base game.

2. Setting, map and player count
The map covers the Northeastern United States, from Chicago to Boston and New York. It is designed for 2 to 6 players, with games typically lasting 3 to 5 hours depending on the group's experience.

3. Private companies and public companies
There are six private companies, auctioned off at the start of the game, which generate a fixed income each operating round until they close (either bought out by a public company or when a certain train phase is reached). Public companies each have 10 shares; the president must hold at least the double (president's) certificate (20%) to found one.

4. Round structure: stock + operating rounds
Each game cycle alternates a stock round (buying and selling shares) with one or more operating rounds (companies build track, buy trains and pay or withhold dividends). As the game progresses, up to three operating rounds can follow each stock round.

5. Stock market and company share price
Each share's price moves along a fixed grid based on sales and dividend decisions: paying out 100% of profit moves the price up, while withholding it (e.g. to pay for trains) moves it down. The share price directly determines how much each certificate costs to buy or sell.

6. Trains and obsolescence (rusting)
Companies buy increasingly powerful trains (2, 3, 4, 5, 6 and Diesel) as the game progresses. Once a sufficiently advanced train type is introduced, older trains "rust" (are removed from the game), forcing companies still relying on them to upgrade their fleet or lose earning capacity.

7. 60% ownership limit per shareholder
No player may hold more than 60% (6 certificates) of a given public company's shares, except temporarily as a result of the share pool. This necessarily spreads control of each company across several players.

8. Bankruptcy and limited liability of the company
If a company cannot afford a mandatory train and lacks the treasury for it, its president must cover the shortfall with personal funds; if that's not enough either, the company can be liquidated. Bankruptcy mainly affects the company and its president, not the other shareholders directly.

9. End of game
The game ends when the bank runs out of money (the bank pool is empty) or when the last available train of the last type is bought, depending on the ending rule in use. All shares still held by players are then valued to determine the winner.

10. Why it's the starting point of the genre
Almost every "new" mechanic found in other 18xx titles (loans, short selling, mergers, bigger or smaller maps, modified stock markets) is presented and understood as an addition to, or removal from, this base ruleset from 1830.

1830 — Schematic summary (base game)

SETTING

• Northeastern USA map (Chicago–Boston–New York)
• 2-6 players, 3-5 hour games

COMPANIES

• 6 private companies, with fixed income until they close
• Public companies with 10 shares each; president needs at least the double certificate (20%)
• 60% (6-certificate) ownership limit per shareholder in any single company

ROUND STRUCTURE

• Cycle: Stock round → 1-3 Operating rounds → (repeats)
• Share price set by a fixed grid, moved by dividend policy

TRAINS AND GAME END

• Trains 2/3/4/5/6/Diesel, with older types rusting once new ones are introduced
• Bankruptcy possible if a company can't afford a mandatory train
• Game ends when the bank runs dry or the last train of the final type is bought