The Waker Trophy was originally purchased for $500 from Cartier's in New York City in 1925 by George Blumenthal, who was a financier and philanthropist.

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

The trophy was originally for the champion of the 6 teams playing at Madison Square Garden / MSG.
Metropolitan Amateur Hockey Association / Metropolitan Amateur Hockey League

St. Nick's Hockey Club / New York St. Nicholas
Crescent Athletic Club / Brooklyn Crescents
New York Athletic Club / New York AC
Knickerbocker Hockey Club / New York Knickerbockers
New York Canadian Club
Seventh Regiment

Mayor Walker was later involved in scandal and tendered his resignation.

The Walker Trophy was found in a pawn shop on Eighth Avenue, in New York City.

Tom Lockhart, who was in charge of amateur Hockey at MSG and vice-president of the Metropolitan A.A.U. and Col. J.R. Kilpatrick, President of MSG purchased the trophy in December of 1933 for $50 plus interest.

The Walker Trophy was later used in the Eastern Amateur Hockey League / EAHL and later in the Eastern Hockey League / EHL as their championship trophy. It was known as the Mayor James J. Walker Cup.