Bears, wolves, and coyotes quarreling over their prey. That’s what it was like here long ago. Now, we’re standing on Montgomery Street, a vital thoroughfare in San Francisco.
Montgomery Street stretches from Telegraph Hill south through downtown. It ends at Market Street. South of Market, it becomes New Montgomery Street. New Montgomery continues for two blocks to Howard Street in the SOMA district.
Back in the 1830s, this area was at the edge of San Francisco Bay. Imagine good-sized fishes swimming. Picture the animals fighting over food. Hard to believe, isn’t it?
The Gold Rush changed everything. Land speculation boomed. People needed more usable land. Sandy bluffs were leveled. The shallows were filled. This created new building lots. Between 1849 and 1852, the waterfront advanced about four blocks. Montgomery Street is now about seven blocks from the water.
Montgomery Street is known as “the Wall Street of the West”. It has a high concentration of financial activity. Many banks and financial-services companies have offices here.
The corner of Montgomery and Clay holds historical significance. John B. Montgomery landed here. He came to hoist the U.S. flag after the Bear Flag Revolt of 1846. The Admission Day Monument stands at Montgomery and Market. It commemorates California’s entry into the Union on September 9, 1850.
Let’s talk about some notable buildings on Montgomery Street. The Transamerica Pyramid is at 600 Montgomery. It was once the headquarters of Transamerica Corporation. Wells Fargo’s world headquarters are at 420 Montgomery. Bank of the West is headquartered at 180 Montgomery Street.
Melvin Belli, “The King of Torts,” had his offices at 722-724 Montgomery. He would raise a Jolly Roger and fire a cannon every time he won a case. What a character.
The Montgomery Block once stood at 600 Montgomery. It was a center of early San Francisco law and literature.
Now, let’s shift our attention to New Montgomery Street. Before it existed, there was an inner street called Jane Street. In the 1870s, Montgomery Street South replaced it. It was intended as an extension of Montgomery Street. William Ralston, founder of the Bank of California, supported the extension. He wanted to expand San Francisco’s business district. Ralston started building the original Palace Hotel. It was the largest hotel in the Western United States at the time.
Ralston’s plan to connect Montgomery Street to the waterfront failed. Two property owners refused to sell their mansions on Rincon Hill. That’s why Montgomery Street South never reached past Howard Street.
Notable buildings on New Montgomery Street include the Palace Hotel. Also, there is the Sharon Building. The Montgomery building served as the headquarters of the San Francisco Call. We also have the Rialto Building and the PacBell Building.
The Montgomery at 74 New Montgomery Street is now a residential highrise. It once housed The San Francisco Call newspaper.
Today, Montgomery Street continues to be a hub of activity. Its history is etched into its very foundations. From a muddy waterfront to a financial powerhouse. Montgomery Street has seen it all.