There were only 6 teams in the NIT. It was the second year for that tournament.
1939 (6 teams) - Bradley, Long Island, Loyola (Chicago), New Mexico A&M, Roanoke, St. John's. Quarterfinals-Long Island beat New Mexico A&M, 52-45. St. John's beat Roanoke, 71-47. Semifinals-Long Island beat Bradley, 36-32. Loyola beat St. John's, 51-46 (ot). Championship-Long Island beat Loyola, 44-32. Third place-Bradley beat St. John's, 40-35.
http://www.nit.org/history/nit-postseason-results-1930s.html
Good work, Homer! That does read quite askew basketball-power wise. St. John’s I can see as a perpetual power and Bradley is often a surrpise, but...New Mexico A&M??!? I have to wonder if either tournament was even national in any real sense.