The Waker Cup was originally purchased for $500 from Cartier's in New York City in 1926 by George Blumenthal, who was a financier and philanthropist.

Blumenthal wanted a trophy named after his friend, and New York City Mayor Jimmy Walker.

The trophy was for the champion of the 3 teams playing at Madison Square Garden / MSG, Metropolitan Hockey League - St. Nick's Hockey Club, Crescent Athletic Club and the New York Athletic Club.

Mayor Walker was later involved in scandal and tendered his resignation. The Walker Cup was found in a pawn shop on Eighth Avenue, in New York, where Tom Lockhart, who was in charge of amateur Hockey at MSG and vice-president of the Metropolitan A.A.U. purchased the trophy for $80 on behalf of Col. J.R. Kilpatrick, President of MSG in December of 1933.

The Walker Cup was later used in the Eastern Amateur Hockey League / EAHL and later in the Eastern Hockey League / EHL as their championship trophy.