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Port cities around the world, especially before modern ship to shore radio communications, merchants would have to wait in buildings for merchant ships to come in, to be among the first to buy the newly arrived items.
San Franciscos Merchants Exchange, on California Street, is actually its third location.
At the time of the 1906 Earthquake and fire, it was the tallest building, at 225 ft 69 m, and one of the few to have survived.
Of further historic interest, this location was originally the home and medical office for Dr John Townsend, the first doctor to come to California. He was also an early mayor of San Francisco. Townsend Street is named for him.
As seen 27 July 2022.