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I do not have my research notes on Kirkwall to hand but from memory the initials should be GC Webster. His son spelt the short version of his name Alex and he took over William Swanney's licensed grocers in Victoria. After Alex' retirement Ally Bruce took over the business and despite ownership changes since then it is still called "Bruce's Stores." Alex Webster's son Duncan lives in Kirkwall and was a cousin of a great friend of mine Angus Campbell.
The iniator of what became the Auction Mart was Col. T.Smith Peace who became an auctioneer long before GC Webster and lived to a very old age. His father was John Peace cabinet maker, brother of W.B.Peace of the woodyard. Col. Peace took his nephew D.B.Peace Junr. into being an auctioneer. They started in Albert Street before moving to Junction Road Sorry I cannot identify the lady in the doorway. I should add that Webster took over the "Ola" from Mrs Geddes, widow of John Geddes from whom it had its original name "Geddes Hotel." He also ran a gig-hiring business from the hotel.

Having just checked up about the Mart in the Valuation Roll of 1902/03 I find that it attributes an Auction Mart in Junction Rd to GC Webster. Col.T Smith Peace began his career as an auctioneer in 1876 and his office was given as being in Albert St where he was until just before his death in 1930. It is about 1929 he appears as being in Junction Rd with the Auction Mart and his nephew DB Peace Junr. who had worked with him since 1907 succeeded him. So it seems as far as an "auction mart" is concerned Webster is the founder of Kirkwall' mart.