In the early days, this trophy was awarded to the sailors who had the best-corrected overall result between American and Canadian Yachts.
This trophy was to remain in the Port Credit Yacht Club if the Canadian sailors won the trophy, and the Rochester Yacht Club if the American sailors won. The fairest and most equitable method of determining the winners was to be decided after all the entries for the race were received. The methods of determining the winner was announced at the skippers meeting prior to the race.
This trophy was donated by Herman Schneider, one of the early participants in this race.
This trophy has not been awarded since 1993.