The Americans improved their record to escape last-place in the Canadian Division, but did not qualify for the playoffs.
Four players were picked up for cash from the Montreal Maroons: Frank Carson, Mike Neville, Hap Emms and Red Dutton.
Dutton would be with the club until its demise in 1942, becoming the team manager after the NHL took over.
Just before the start of the season, the Americans traded Lionel Conacher to the Maroons for cash.
The Americans signed three new players: John Keating, Vernon Ayres and Gord Kuhn.