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Subject: Buying first certificate (major company) rss

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Manuel Ferreira
Spain
A Coruña
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Hi! When the 10% share price is established? When a player buys the first certificate of that company (it must be the "4 shares" certificate)? Or when the company is floated? I think the first one is the correct, but the rules are not that clear. (And I myself am not an experienced 18xx player).

Thanks,
Manuel
 
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Boris
Netherlands
Groningen
Nederland
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The PAR price is set at the moment the Presidency certificate is bought.

This seems to be the case for every 18xx I can think of*.
And certainly for 1830, which 1800 is based upon.


* Except for 18xx that don't have PAR prices of course.
 
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Manuel Ferreira
Spain
A Coruña
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Thanks, Boris.

So, it's not necessary that the company is floated: the PAR price is determined by the buyer of the first certificate (the President sertificate) and not by the president of the company (there's no president till the floating).
 
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Chris Laudermilk
United States
Orange County
California
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From the rules:
Quote:
The first certificate sold from each company must be the “4 Shares” certificate and means the player is buying 40% of that company. Once this certificate is sold, players may buy 10% shares one at a time. A company is “floated” as soon as 50% of its stock is owned by players.

I'm no 18XX expert, but this follows the method I've seen in other rules I've read. The first certificate purchased must be the President's one (usually 2 shares or 20%--in 1800's case 4 shares or 40%). Whoever is purchasing this certificate is who sets the PAR price. This first purchase does not float the company. However, the player who holds the majority of shares is the president.
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Manuel Ferreira
Spain
A Coruña
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That's what I tought, but I wasn't sure; It seemed to me a little odd.

Now it's cristal clear.

Thanks, Chris!
 
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Ron K
United States
jamesville
New York
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Per normal 1830 play, a person acquiring the president's cert is indeed the president of the company regardless of whether or not the company has floated yet.

When someone else acquires a higher percentage, the president's cert is swapped with that person for an equal percentage of smaller certs - so the president's cert is always with the president of the company.
-Ron
 
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