 Once done, it was incorporated as Walter Baker & Company, Ltd.

Pierce was honored by the City of Boston when the school committee voted in 1892 to name the new grammar school just south of Codman Square in his honor.The school was designed by Boston city architect Harrison Henry Atwood (1863–1954) and was an enormous hammered granite building at the corner of Washington Street and Welles Avenue (now the site of the Codman Square Branch of the Boston Public Library).It was considered one of the most advanced schools in the Boston public school system, and after the Great Depression, its focus became that of a "Baking School," which offered trade classes.