This has to be the dumbest award. The award goes to the goalie, playing in at least 25 games, on the team that has given up the fewest goals (so, sometimes it is shared).
So, it's really a team award, but they give it to an individual. I don't like a lot of goalie stats because I find most of them to be team oriented, however, if you want to give out an individual award for fewest goals against, why don't you give it to the goalie with the lowest GAA?
Harding and Elliott had significantly lower GAA stats than Quick. They both played more than 25 games, but not much. If you want to draw the line in the sand on it at 40 games, that's fine, Schneider had a GAA of 1.97 and Rask had 2.04, both lower than Quick.
What the award shows here is that Quick ended up having the worst GAA on his team.