The league was founded by Tommy Lockhart, who served as its commissioner from 1937 to 1972.

Lockhart, who operated a small intramural hockey league at New York City's Madison Square Garden, offered his teams – and the use of the MSG ice – in exchange for joining the league.

It began with five teams and grew into two divisions for the 1959–60 season.

In its final season the league had twelve teams split into three divisions.

Some of its northern teams became the North American Hockey League, while most of its Southern teams became the Southern Hockey League.