I find this in the 1891 IOM census:

King Williams College, Malew, RG12/4690, folio 136, page 1

Frank Bridgwood Walters, Head, M, 39, Schoolmaster Principal of the College and clerk in Holy Orders, b.Devon, Buckland
Cecilia Frances Walters, Wife, M, 38, b.Cambridgeshire, Cambridge
Dorothy Frances Walters, Daughter, 11, b.Gloucestershire, Clifton
Elizabeth Mary Walters, Daughter, 10, b.Gloucestershire, Clifton
Enid Margaret Walters, Daughter, 8, b.Kent, Dover
Phyllis Harriett Walters, Daughter, 5, b.Kent, Dover
Fanny Edith Walters, Daughter, 4, b.Isle of Man, Castletown
Francis Paul Walters, Son, 2, b.Isle of Man, Castletown

Also residing are numerous teachers, servants and scholars.

From Brian Lawsons burial index (www.lawsons.ca)
WALTERS, Frank Bridgeman: Age - 48; buried Malew, 10 Aug 1899. (don't see any other burials of Walters that would fit this family)
Anf from the Wills index (same site)
WALTER, Frank B, 1899, Cas, Ref:271 Film: 0106533

Cheers,
Ruth