Re: [Rails-devel] PublicCompany_1856

[John D. G. <jd...@di...>]

John A. Tamplin wrote:
> Erik Vos wrote:
>> - the next available train from the bank when the presidency was bought
>> (which determines the company capitalization rules at floating time and
>> later), and
>>   
> No, 1856 cares about the available train type at the point it first 
> tries to operate.  It is a common error to only buy 2 shares at the 
> beginning and find that by the time your company comes up in the 
> operating order, a 3 is available so you do not operate.

You're both right.  The available train type at the point your company
first "tries to operate" determines whether the company has floated,
but the available train type when the president's share is purchased
determines which of the three capitalization schemes applies to the
company (and, therefore, whether it ever needs to destinate).