Walton J. Greer, 67, a retired president of the Welex Electronics Corporation in Silver Spring, died of leukemia Saturday at the Miami Heart Institute in Miami Beach, Fla.

Mr. Greer moved to the Washington area in 1961, when he was named vice president for research of Welex, a subsidiary of the Halliburton Company of Houston, Tex. Welex has developed communications systems for the government and engaged in other electronic work. At the time of his retirement in 1974, Mr. Greer was president of the firm.

A native of Harleton, Tex., he grew up there and elsewhere in Texas. He graduated from Rice University in Houston in 1935 with a degree in electrical engineering. He had his own business in Houston until 1938, when he joined Halliburton, of which he became a vice president.

In the course of his career, he developed a device known as the "Halliburton Log," which is widely used in the petroleum industry to monitor oil wells.

Mr. Greer, who maintained homes in Bethesday and Boca Raton, Fla., was a member of the Institute of Electrical and Electronic Engineers and the National Society of Professional Engineers.

In private life, he was a member of the Concord-St. Andrews United Methodist Church in Bethesda, where he was chairman of the board of trustees, a member of the administrative committee and a youth counsellor. He also was a member of the Congressional Country Club.

Survivors include his wife, Mary, of Bethesda and Boca Raton; two daughters, Betsy Houston, of Chevy Chase, and Kathy Gulnac, of Brockway, Pa.; two sisters, Kathryn Kahle and Irene Robertson, both of Houston; one brother, W. Neal Greer Jr., of Hammond, La., and three grandchildren.

The family suggests that expressions of sympathy be in the form of contributions in Mr. Greer's name to the Memorial Fund, Concord-St. Andrews United Methodist Church Bethesda.