This memorial stone is in the main street of Bairnsdale, I guess on what you would call the median strip, although the strip is very wide and has beautiful garden beds all along the main street. There are several memorials at different spots along the main street.
The memorial was erected for the centenary of the founding of Bairnsdale. If you click on the photo you will be able to read the plaques.
I was intrigued by the one commemorating the birth of the first colonist’s child. I searched on the internet for more information and found that the caption in the state library says “the first white child” whereas the plaque has the more politically correct caption of “first colonist child”