Walter Runciman, 1st Baron Runciman

The family moved to the coastguard station at Cresswell, Northumberland, because his father was appointed a position there.

After attending a church school, the younger Walter ran away from home to work at sea in 1859.

[1] This explains why he was referred to by his grandson Steven as "a Geordie of Scots descent who ran away to sea at 11, was a master mariner by 21 and founded a shipping line",[2] and, usefully for historians of a related area, Runciman wrote several books based on his years at sea.

Walter Runciman was Managing Director and Secretary, and John Elliott was the chairman.

In 1929 he sold her for scrap,[4] and replaced her with a new yacht, Sunbeam II, which he ordered from William Denny and Brothers.