It was really all a matter of sponsoring junior teams, and MSG ownership was too cheap to do that. One problem was that during the 40s and 50s, the Norris family owned both the Red Wings and a major stake in MSG Corp., and they put all of their junior team apples in one basket (the Red Wings). The Rangers were viewed as a filler of dates in an arena that was focused on boxing and the circus. The Rangers did sponsor one great junior team in the 50s, the Guelph Biltmores, who produced Gilbert, Ratelle, Howell, Prentice and others.
The league as still skewed that even when the universal draft was begun in 1969, they let gave the CANADIENS the first pick so that they could take the top French Canadien player. Give me a break!