While you would think that Victoria Italic would be the italic of Victoria, and while in practice it is, it actually differs from both Victoria and the related Atlanta (Central) in several important details (see, e.g., the cap 'R').
Identified by Loy (in his biographical sketch of Werner) as having been cut in its first eight sizes by the independent matrix engraving firm of Schroeder & Werner for the Central Type Foundry.  This would date these sizes to the period 1888/9 - 1891. In the same article, Loy goes on to say that after Schroeder left this partnership in 1891 Werner, working now by himself as an independent matrix engraver, cut the remainder of the series (presumably for Central, also presumably before he joined the Inland Type Foundry some time after its founding in 1895).
Mullen observes that Victoria Italic continued in production by ATF "and other type foundries until at least 1912."  Both Mullen and McGrew identify it by the ATF series number 311.
For ATF, it is shown at least as early as the 1895 Catalogue and Book of Specimens of Type Faces of the Cleveland branch. It was advertised in the November 1895 Inland Printer (see Annenberg's Typographical Journey through the Inland Printer). It was shown at least as late as the 1923 ATF Specimen Book and Catalogue (p. 516).
Atlanta (Central) was a lining face which, by design lined at the bottom, the top, and the center (this was emphasized in Central's specimen for it). It was uppercase only.
Victoria (Central, later ATF) was uppercase only and was probably a lining face which (again, probably) lined only at the bottom. (The ATF specimens I've seen which show it are silent on these matters.)
Victoria Italic is an uppercase-only lining face, lining at the bottom. (The 1897 ATF Handy Specimen Book specifically says "all sizes lining together at the bottom.")
Where Atlanta and Victoria were cut at only one face size per body size, Victoria Italic was (in the ATF specimens I've seen, at least; I have not seen a Central specimen) cut in multiple face sizes per body size (as many as six face sizes for the 6-point body size).
1. Werner, N. J. An Address by N. J. Werner of St. Louis. St. Louis: [St. Louis Club of Printing House Craftsmen, 1931. , reprinted as "St. Louis in Type-Founding History" Share Your Knowledge Review, Vol. 22, No. 3 (January 1941): 21-26.
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