With the Wall Street crash of 1929 followed by the Great Depression, the owners found themselves having to sell off their star players to make ends meet.

Boxing promoter Benny Leonard, Dwyer's front man, then requested permission to temporarily move to Philadelphia as the Quakers (from the historical importance of the Quaker religious community in the founding of Philadelphia and Pennsylvania) until a new arena was built in Pittsburgh.

While the Senators came back for two years before moving to St. Louis, the Quakers franchise never iced a team again.

23 players – three goaltenders and 20 skaters – played for the Quakers during their lone season of existence.

Quakers' coach Cooper Smeaton was inducted in the Hall of Fame in 1961 as an on-ice official based on his two decades as the NHL's Referee in Chief and he also served as Trustee of the Stanley Cup from 1946 until 1978.