No formal announcement seems to have been made. The earliest
mention (see above) was fairly casual in that there was no mention
of tourney formalities or of closing date. It was also published
together with the first tourney problem, which suggests that the first announcement may not have been public.
About half a year after the announcement, mottos are said to be allowed, but not required.
No announcement of closing date has been found.
Eleven problems were published, the last in v. 4, p. 95 (Sep.-Oct., 1876). No mention is made of how many problems or sets were received. As only two problems of the set "Better Late than Never" were published, it seems possible that problems found to be faulty were not published. No solutions were published.
The prize for best #2 was awarded to Tourney Problem 7, which was published under the motto "Better Late than Never". The first publication of this number was retracted as a mistake, and tourney prb. 8, under the same motto, was renumbered as 7.
Prize: S. Fleischmann
Key: [ 1. Qc7 ]
Source: The Globe, 3/7 (Oct., 1875), p. 111, tourney prb. 1
Key: [ 1. Rd2 ]
Source: The Globe, 3/8 (Nov., 1875), p. 127, tourney prb. 2