From the plaque:
This is the site of the famous
What Cheer House, a unique hotel opened in 1852 by R.
B. Woodward and destroyed by the fire of 1906. The What
Cheer House catered to men only, permitted no liquor on
the premises, and housed San Francisco's first free library
and first museum.
Plaque placed by the California State Park Commission in cooperation with the California Historical Society and the American Trust Company, April 24, 1959.