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BUYS WALLACES CONTRACT LOUISVILLE, Ky., May 12.— The contract on apprentice George Wallace, who rode his first winner at Gulfstream Park on February 4 and who has been astride fifteen winners, three of which were during the Churchill Downs meeting, was purchased today by A. C. Ernst, Cleveland sportsman. The boy was developed by C. Hyde Smith, and Jack Skirvin acted for Ernst in the transaction. Wallace hails from Toronto, Ontario, Canada, and comes from a riding family that includes J. D. Mooney, who won the 1924 Kentucky Derby with Black Gold; Jimmy Wallace, now a trainer, and Cal Rainey. Wallaces victorious ride on A. C. Ernsts Alup two days ago was largely responsible for his new employer purchasing the papers on him.