First presented in 1947 by David W. Price ‘42 to the winner of the McDonogh vs. Gilman game, the Price Memorial Trophy was a memorial to the graduates of the two schools who fought together in World War II. Henry H. Callard, the Gilman Headmaster at the time, said, “The two schools have very much in common, even though we fight it out for all we are worth on the athletic field. The War did a great deal to bring boys together, and I like to think that athletic contests will be followed by a friendly spirit and mutual interests.”
The winning school keeps the Price trophy until the next year. In the case of a tie score, as happened in 1957, each school holds the trophy for half a year, and a coin toss determines which team has the trophy for the first six months.