On this block, then on Yerba Buena's waterfront, stood the California headquarters of the Hudson's Bay Company. In 1841, their chief trader, William G. Rae, purchased the property and started operations. This venture caused wide speculation about British intentions. Inadequate profits, a declining fur catch, and pressure of U.S. expansion caused Hudson's Bay Company to end California operations.
California Registered Historical Landmark No. 819
Plaque placed by the State Department of Parks and Recreation in cooperation with the Redwood Coast Outpost of the "Westerners", April 17, 1968.