The C M Ross Co. Ltd was one of the foremost department stores in Palmerston North. The business was established by Charles Ross in 1883, and this building was constructed in 1927-1928, replacing a number of buildings on The Square. It linked through to Coleman Mall and George Street buildings. The business was sold in 1959 to Milne and Choyce and later was bought out by the DIC, then Arthur Barnetts. It was sold to the Palmerston North City Council and after extensive renovation opened as the Palmerston North City Library in 1996. The ornate structure to the right of Rosco's is the King Edward VII Coronation Fountain which was constructed in August 1902. It was originally placed in the centre of The Square but was moved in 1925 to make way for the War Memorial. It was relocated to the middle of the pond near the Coleman Mall corner of The Square, where it remained until it was again moved, close to the corner of The Square and Broadway in 2005.