Prior to the start of the Ace Bailey Benefit Game at Maple Leaf Gardens on February 14, 1934, Ace himself handed out windbreakers and participation medals to the players.
L to R - Foster Hewitt, ?, Conn Smythe, Lester Patrick, Ace Bailey, Busher Jackson.
Conn Smythe donated the trophy for the winners, to be known as the Ace Bailey Trophy, and suggested that the all-star game should become an annual affair to raise money for a special emergency fund to help players injured during NHL games. Despite speculation that an all-star game would become an annual affair, the NHL did not begin holding a regular, annual all-star game until 1947.
Ace Bailey died in 1992 at the age of 88. He had outlived every single one of the all-stars who had been selected by the NHL to play in his 1934 benefit game.