Career
In 1889, Runciman founded the South Shields Shipping Company, based in the port of South Shields, on the south bank at the mouth of the River Tyne, which was then part of County Durham but now in Tyne and Wear. Walter Runciman was Managing Director and Secretary, and John Elliott was the chairman. In 1892 the company offices moved up the River Tyne to the city-port of Newcastle.
Elliott died in 1898 and the elder Runciman held the position of Chairman until his death in 1937.
Runciman was created a baronet in 1906, and served as Liberal Member of Parliament for Hartlepool from 1914 to 1918. In 1910 he wrote "The Tragedy of Saint Helena", an account of Napoleon Bonaparte"s exile and death.
In 1933, he was raised to the peerage as Baron Runciman of Shoreston.
