Setup (2 6 players; recommended with 3, 4, 5 players)

- Place the shares and trains on the smaller boards except black. Black is on the main board.
- Place 1 train per company (excluding black) on the main board at their start hexes.
- Place 1 house each on the boxes 1 (Detroit), 3 (Wheeling) and 4 (Pittsburgh) on the Industrial City track.
- Place the round markers (except black) on $5, $6, $7, $8 of the income track based on their colors.
- Distribute $120 evenly to all players, e.g., $40 each for 3 players.
- Turn all dials to green.
Note: A companys +50 token is placed on its board only when its income exceeds $50.

General Note: A companys income can always be derived from the board at all times. The income tracker is just
there for convenience.

Object: Invest in and expand and develop the right companies to receive high dividends. The player with the most
cash wins.

End Game Condition

- When one of these conditions has been met:
- Three or more companies run out of trains.
- Three or more companies run out of shares.
- Three houses left.
- Detroits marker reaches 8.
- the game ends as soon as the next General Dividend (NOT reach Chicago Dividend Phase) has been paid out.
- Richest player wins. If tie, share victory.

Starting Auction
At the beginning of the game, auction one share from each company in the following order:
- PRR & start player (min $7), B&O (min $6), C&O (min $5), NYC (min $8).
Note: All players may bid or pass. A player who passes is out of the auction for that share. Bid is paid to the
company, winner starts next auction. If no one bids, the starting bidder gets the share for free.
Turn (Move dial, then take action. Only 1 action per turn)
Note: Players may do nothing after moving the dial.
Note: If two dials reach red, do Dividend Phase after taking action.
1. Dividend per share = company income / # shares in play, round up. Dividend is paid from the bank.
Example 1: Andy owns 2 NYC shares and Ben owns 1. If NYCs income is $16, Andy receives $12, Ben receives $6.
Example 2: Andy is the sole owner of NYC shares and he owns 2 of them. If NYCs income is $17, he receives $18.
2. Reset all dials to green.
3. Develop Detroit, i.e., move the house on Detroits income track to the right by one space.

Auction share (to get shares)

- Can auction any share except Wabash share (only available after any one company reaches Chicago).
- The selecting player starts the bidding. All players may bid or pass. A player who passes is out of the auction.
- Minimum bid = company income / # shares in play (including share currently being auctioned), round up.
- Bid is paid to the company.
- If no one bids, share is not sold.

Expand network (to increase company income or to reach Chicago)

- Must own at least one share in the company. Cost is paid by company.
- Cost = red (negative) number * # trains on hex (including new train). More train -> more expensive.
- Can lay up to 3 trains (must connect) for the same company, branching is allowed.
- Players may not lay trains on start hexes (except Wabash). Each Forest and Mountain hex allows only 1 train.
Other hexes allow 1 train(s).
- After laying the trains, increase the income of the company on the income track:
- City and Mountain hexes (no house): Black (positive) value on train symbol.
- City hexes (with house): Black (positive) value on train symbol + value on house symbol.
- Industrial Hexes: Value marked on industrial city track.
- Forest and Plain Fields: No income increase.
Note: A company may not have multiple trains on the same hex.
Note: Every time a company reaches Chicago, do the Chicago Phase (before General Dividend Phase if applicable).

Develop one hex or industrial city (Place house on hex or move house on industrial city track)
- City / Mountain / Forest hexes: At least one train must be on the hex. Each hex may only be developed once.
Place a house on the hex.
- Industrial City: At least one train must be on the industrial city. Move the marker piece one space to the right.
Note: Detroit is automatically developed at the end of the Dividend Phase and cant be developed by players.
- Effects of development
- City / Mountain hex: Increase income by the black (positive) value on house symbol.
- Industrial City: Increase income by difference between the new and old box on the industrial track.
- Forest hex: The company on the hex receives $2 immediately from the bank. Its income doesnt change.

Chicago Phase
- The company that has just reached Chicago pays out dividends to all its shareholders.
- If Wabash has not been started yet,
- Start it by placing a black train on Fort Wayne. Place its income marker on 1 (3 if Fort Wayne is developed).
- Auction the first share with the usual Auction share rules. If no one bids, the share is not sold.
- The remaining Wabash share is now available for selection if a player chooses the Auction share action.