It was built by transplanted Bostonian Henry Meiggs to attract the lumber shipping trade as part of his real estate development plans for what would become the North Beach area of San Francisco.
The "Father of North Beach", tried to cover his shortfalls with illicitly obtained warrants against the San Francisco Street Fund.
Before his fraud was discovered he fled on October 6, 1854 on his brig America with his family and brother, John Meiggs, the newly elected City Controller.
He landed in Chile, where after losing $8,000 in stake money and pawning his pocket watch he would make another large fortune building Chilean and Peruvian railroads.
Stuffed with curios, it proved successful and served as an early social gathering spot for the entire city regardless of class.