Jim Dixon.There was no pit in Walker as far as I am aware. The pit was in Byker and the shore relates to a shore line along the river Tyne at Walker.
Gulleys or drains are also known as shores throughout Ireland. I do not know why.
I do not know the origins of the area name of Walker but it goes back a very long time. There is an district call Wallsend a bit further down the Tyne which dates back to Roman times and was where the great North Wall ended. It was built by Hadrian and parts a still visible today. Worth a visit.