"Round the Horn" re-creates the annual race of grain-laden, square-rigged sailing cargo ships from Australia to London.
In the first phase of the game, each player draws Loading cards and discarding them until he has a "Lloyd's Certificate" designating the color of his craft and the amount of grain he must carry. Once a player has a certificate, he draws and keeps (or discards) Loading cards until he has the exact amount of cargo required.
Once fully loaded, a player enters the second phase of the game -- sailing. A player under sail chooses a sail state (full, 3/4, 1/2, storm), then draws a card and checks the resulting combination on their sailing wheel. There is a Total Loss card which, if followed by a second draw indicating bad weather or other calamity, can damage the player's ship or force him out of the game entirely.
The first player to arrive safely in London is the winner.
No copyright date is given, but a London game collector asserts the vintage for this game to be of the early 1930s. The subject matter is consistent with this estimate, in light of the Great Grain Race of 1932, and the box style (i.e., small label fixed to larger cover) fits that of the 1930s.