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StashAugustine
Mar 24, 2013

Do not trust in hope- it will betray you! Only faith and hatred sustain.






Pass

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Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

Lecher gets it. I pass on auctioning anything, Lecher to start the auction on Keystone Bridge or pass.

Known Lecher
Jan 4, 2016



Pass

Papes
Apr 13, 2010

There's always something at the bottom of the bag.

Pass

StashAugustine
Mar 24, 2013

Do not trust in hope- it will betray you! Only faith and hatred sustain.






Eh, Keystone for $40

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

Panzeh got skipped. Passing your turn is not like passing in an auction, he could come back.

StashAugustine
Mar 24, 2013

Do not trust in hope- it will betray you! Only faith and hatred sustain.






Mr. Squishy posted:

Panzeh got skipped. Passing your turn is not like passing in an auction, he could come back.

Okay, didn't catch that. I'll keep the offer if he passes

Panzeh
Nov 27, 2006



I'm autopassing through all further private auction rounds.

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

I pass on Stash's bid.

Known Lecher
Jan 4, 2016



I think it's to me, in which case pass, and if not uh....still pass.

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

It is, then papes, then stash gets it.

Papes
Apr 13, 2010

There's always something at the bottom of the bag.

Pass

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

Stash gets it for half price, that round ends, I'm PD for the 1st stock round, and wait a moment.

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

There's a little confusion because the Dev18 Board doesn't supply a company-key (or a working sheet), so I whipped one up. They're arranged in the same order as the sheet, which I also changed a little to closer hew to the companies (mostly name-changing to exactly match what's on the back of the token, a little palette swapping).


I also made potted histories of each company which can be seen here.
Auctions for starting companies can increment in any integer, and would ideally be exactly twice what its starting share price will be, as any difference is gobbled up by the bank.

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

Auction Kansas City Southern in San Antonio for 210.

Known Lecher
Jan 4, 2016



So the companies aren't tied to any specific location/region, like Squishy could have started KC Southern in Boston if he'd been so inclined, right?

Pass.

Panzeh
Nov 27, 2006



Known Lecher posted:

So the companies aren't tied to any specific location/region, like Squishy could have started KC Southern in Boston if he'd been so inclined, right?

Pass.

Correct- you can choose whichever company you want and have it start wherever you want.

Papes
Apr 13, 2010

There's always something at the bottom of the bag.

Pass

Panzeh
Nov 27, 2006



Pass.

StashAugustine
Mar 24, 2013

Do not trust in hope- it will betray you! Only faith and hatred sustain.






pass

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

I get it! I start the company with Boom Town and Land Grant, and pay the remaining 110 to the bank. As the bid is double the resulting share price of 105, the company takes the whole 110 out again.
And I picked KC because of their present-day extensive Mexican routes, though I am distressingly far from Kansas City.
e: I can't stand it, I'm changing the company to Southern Pacific. It's a cosmetic change so it shouldn't effect anything.

Mr. Squishy fucked around with this message at May 27, 2018 around 14:55

Known Lecher
Jan 4, 2016



I'll go for historical accuracy on this one:

Auction Great Northern Railway in Fargo for $125

Known Lecher fucked around with this message at May 27, 2018 around 15:13

Papes
Apr 13, 2010

There's always something at the bottom of the bag.

Pass

Panzeh
Nov 27, 2006



Pass.

StashAugustine
Mar 24, 2013

Do not trust in hope- it will betray you! Only faith and hatred sustain.






pass

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

132

Known Lecher
Jan 4, 2016



140

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

148

Known Lecher
Jan 4, 2016



156

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

164

Known Lecher
Jan 4, 2016



172

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

Pass

Known Lecher
Jan 4, 2016



I was tempted to just let you have it once you started to run the bid up on me.

I'll float with Great Northern Railway (surprise!) and Pettibone and Mulliken, plus the $40 subsidy, plus dig around in my pockets for $7 in quarters. $85+40+40+7=$172, which means a starting share price of $86 and $47 in the treasury. Assuming I did that correctly.

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

Not quite. Privates are used for their face price, not what was paid for them. So GNR is worth $60, not $85

Known Lecher
Jan 4, 2016



I asked that question earlier and thought it was answered in my favor but uh, now I'm not sure. I read this as an affirmative answer to my question when I think it was just not answered at all:

Panzeh posted:

Known Lecher posted:

Getting ahead to the stock round a bit, you can pay the cost of the president's share (to float a railroad) from the value of the privates you own, which means less money in the treasury.

From the 1817 rules, if you don't have $100+ in a company's treasury to start the first OR, it sounds like it's crucial to make sure a railroad has at least $5 actual cash in its treasury in order to pay the fees on a first-turn loan (or $10 for 2 loans) or you're forever screwed, since you can't force-buy trains with the president's money. I assume that's the same here, right?

And if we were greedy enough to bid a private beyond face value (hypothetically speaking, of course), our (over)bid is what counts for the private's equity and not its actual face value, right?

Actually, starting a company with $0 in the treasury works, it's just not recommended because the company will have a very slow start.

You can take a loan at any time except in the time between Pay Interest and Buy Trains. If you started with $0, you'd take 2 loans, pay $10 interest, and buy one train.

But, yes, you're correct, when you use a private to pay for a company, the company gets the private instead of that money in the treasury. It's entirely viable to just not buy any privates at the start and begin 2 fairly strong companies from the word 'go'.

You can't bid beyond face in 17 so the rules don't address it and the USA rules don't clarify either. Bummer because if that's the case I definitely would have considered bidding that differently.

I guess I'll float with GNR + PB + $40 subsidy + $32 of my own precious precious cash, leaving $72 in the treasury.

Known Lecher fucked around with this message at May 28, 2018 around 14:02

Mr. Squishy
Mar 22, 2010

A country where you can always get richer.

There's a lot of yeah's in Panzeh's post but I don't think he actually addressed your second q. I didn't catch your meaning when I read it either and I apologise for that. I took it to be asking for general reassurance if you're sunk or not for overbidding.
I think the 2 rulebooks are fairly clear: 18USA's rulebook contains all the changes made to 1817's rules. 'USA allows you to overbid in 4.6, but nowhere in 5.5 do they talk about the value of privates in IPOs, so we must defer to '17. '17 says they go for face price. It also makes sense if you imagine playing it physically where you don't have a sheet, or any other record of how much was paid. Played your way you'd have a card that's worth the number printed on it, or possibly more, who can remember.

Known Lecher
Jan 4, 2016



Yeah, that makes sense - playing on a computer it's easy to forget that at a table you'd just be staring at a card that says $60 with no record that you had actually paid $85. The sole passing reference in 5.1 (New Company IPO) of the USA rules is to the "value" of privates without clarifying, but it would be nice if they'd explicitly said something elsewhere since they let you bid beyond face value.

e: Not that I'm doubting you at all, it just would have been helpful if they'd clarified since they're bending the '17 rules and letting you bid beyond face in private auctions.

Known Lecher fucked around with this message at May 28, 2018 around 14:39

Papes
Apr 13, 2010

There's always something at the bottom of the bag.

Ill start the PRR in Salt Lake City for $240

Panzeh
Nov 27, 2006



Papes posted:

Ill start the PRR in Salt Lake City for $240

Pass.

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StashAugustine
Mar 24, 2013

Do not trust in hope- it will betray you! Only faith and hatred sustain.






pass

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