In October 1854, the California Supreme Court upheld a lower-court ruling against Joshua Norton & Co. in Ruiz v. Norton — the famous “rice case.”
Details of the fallout from this ruling suggest that Joshua already was overextended and carrying heavy debt before the rice fiasco; that he was overinvested — and highly leveraged — in real estate; and that, in general, his wealth was much more fragile and precarious than often is supposed.
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Most people who see a connection between Emperor Norton and the site occupied by the new Transbay Transit Center see the connection only in terms of a beautiful Bay Bridge-oriented commemorative plaque that the fraternal society E Clampus Vitus commissioned and dedicated in 1939 and moved to the old Transbay Terminal some fifty years later, in 1986.
In fact, the new transit center is just a few steps from the former sites of some of the most important properties owned and used between 1850 and 1855 by the "pre-imperial" businessman known as Joshua Abraham Norton.
This points to an opportunity: The transit center is situated in the midst of the oldest of Old San Francisco. How about a prominent feature in the Center that would direct visitors to historically significant sites that are within walking distance? How about putting a plaque or some other historical marker on all of these sites?
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