In 1862 the brothers Arthur and Walter Jervoise Scott entered into a partnership with George Dalrymple and Robert G W Herbert in the Valley of Lagoons run, a well situated tract of country in the newly opened upper Burdekin district of Queensland. The partnership became Scott Bros Dalrymple & Co with Dalrymple acting as manager. Walter Scott overlanded some of the first stock from the Darling Downs north to the property. Adapting well to the conditions, Walter became managing partner at the end of 1864, when Arthur returned to England and Dalrymple went into politics. Walter remained at the Valley of Lagoons until his death in 1890. The family abandoned the station after Arthur's death in 1895.

Walter Jervoise Scott was the second son of James Winter Scott MP, of Rotherfield Park, Alton, Hampshire, England. In 1862 Scott and his brother Arthur (1833-1895) with George Dalrymple and Robert G W Herbert became partners in the Valley of Lagoons run in the upper Burdekin district of Queensland. Arthur and Walter Scott arrived in Queensland early in 1863 with Walter becoming the managing partner at the end of 1864. Walter Scott died on 29 June 1890.