The Waterloo pictured in the late-fifties. It was the last building on Waterloo Street with Blackburn Road going up the centre of the picture and Halliwell Road off to the left.
The Waterloo Hotel – not to be confused with the Waterloo Tavern at the Folds Road end of Waterloo Street – opened in 1820 with Robert Brooks as its first landlord. The pub was situated on the corner of Waterloo Street and Blackburn Road though directories up to about the middle of the nineteenth century tend to give the address as Waterloo Place.
The pub was owned by the Manchester wine and spirit merchant Henry Carswell towards the end of the 19th century, but it was later sold to Magee, Marshall and Co. 
The Waterloo closed in the late-sixties. The Bolton Evening News printed this picture in 1965 when it was announced that the pub would be demolished as part of a slum clearance.
 Bolton Pubs 1800-2000, by Gordon Readyhough. Published by Neil Richardson.
A similar view to the above picture but taken in September 2014 (copyright Google Street View).