Page 1001 - Reading Mercury

He remained a Chief-Proprietor until 1966, when the publishing group owned by
Lord Thomson of Fleet obtained an 85% share-holding in a new company, Times
Newspapers, which was to publish “The Times” and “The Sunday Times.”
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Mr. Walter was in early years a patron of agriculture in Berkshire. Serving in the 4
Battalion The Royal Berkshire Regiment (T.A.), he became Captain and an honorary
Major.
Twice married, he leaves two sons and two daughters. His elder son, John, was born
in 1908.
Founder
John Walter I (1739-1812), founder of “The Times,” was a London coal-merchant’s
son who, succeeding to the business, became wealthy and took a leading part in
establishing the coal exchange. Then he changed to underwriting and was eventually a
member of Lloyds. The American War hit him hard, he experienced bankruptcy. In
1782, seeking to rebuild his fortunes he met Henry Johnson, inventor of a new method
of printing composing by means of “logo-types”—founts composed of complete
words instead of separate letters. Walter bought the patent and in 1784 purchased
premises in Printing House Square. There he commenced a book-printing business,
relying upon the “logographic” process. He also started a small newspaper, “The
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Daily Universal Register,” first published on January 1 , 1785, and printed
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logographically. Its 940 number was called “The Times, of Daily Universal
Register”, shortly afterwards, simply “The Times.”
Walter had troubles both as book-printer and newspaper publisher. Libels in “The
Times” on members of the Royal family caused him to be fined heavily, and sent to
prison. “An incautious insertion of my eldest son” brought him further conviction in
1799; he died thirteen years later at his Teddington residence.
William Walter, the eldest son was unsuccessful in the management of “The Times”
and he gave place to his younger brother, John, who took full charge in 1803. Yet
John had been destined for Holy Orders. He brought new virility and forcefulness to
the newspaper, antagonising the Government in so doing. This last particularly in his
building-up of the paper’s foreign intelligence. From the struggle, “The Times”
emerged as the leading European journal. He, not his father, might therefore be said to
have been the true creator of “The Times.”
During a strike in 1910, John Walter, in shirt-sleeves, worked at the type-setting
case and the press for 36 hours incessantly—and, despite all obstacles, the paper came
out. When, in 1814, he introduced a cylinder printing machine steam-powered, the
creation of German printer Koenig, this was described as “the greatest improvement
connected with printing since the discovery of the art itself.”
He bought the Berkshire estate and residence of Bear Wood. He was M.P. for
Berkshire from 1932 until 1837, and afterwards Member of Nottingham. He died at
Printing House Square in 1847, having moved there to be nearer his physicians.
Legal career
So his eldest son became chief proprietor. Born at Printing House Square, John was
later called to the Bar. His father’s death interrupted a legal career. But he likewise
served Berkshire and Nottingham in the House of Commons. A scholarly man, he had
a fine literary sense founded upon the classical.
He pioneered printing improvements with “The Times” that contributed greatly to
the development of a cheap Press. These innovations included the Walter Press of
1869, a steam-powered rotary employing stereotype plates and continuous rolls of
paper, turning out 12,000 copies an hour.

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