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By the mid 1920's William Hofstra was a millionaire several times over. He made much of his money in lumber and pulp paper products, but was also the largest shareholder of Price Brothers stock outside of the Price family. Price Brothers Ltd., of Canada, manufactured and sold wood pulp and newsprint. It was estimated that the company owned almost 46 million cords of pulpwood sufficient to produce 31 million tons of newsprint paper. William Hofstra was the New York Director of the Company. 
William S. Hofstra died on May 11, 1932 leaving the bulk of his estate to his wife. In addition, he left approximately a quarter of a million dollars to his surviving daughter, Margaret Hofstra Angelin and her two sons. Bankers Trust Company was the administrator of the estate. 
Kate Mason Hofstra died on September 15, 1933 after being served her morning coffee by her housekeeper. She left a lengthy will with specific gift disbursements including those to Bide-a-wee, St. George's Church of Hempstead, and several friends and relatives. The remaining estate, however, was to be used to create a memorial to her husband. 
The trustees of the estate, Howard Brower and James Barnard were left with the task of finding a fitting tribute to the Hofstras. In the fall of 1934, Howard Brower and Truesdel Peck Calkins, the superintendent of Public Schools in the Village of Hempstead discussed the future of the Hofstra estate. Brower shared Calkins' enthusiasm for the idea of an institution of higher education. This led to the creation of Hofstra University. 
Although neither Mr. nor Mrs. Hofstra might have envisioned a University that bears their name, their opulent home, The Netherlands, is now the centerpiece of the campus. Their likeness hangs in the administration building, and their family name lives on. 
Hofstra's campus is now home to approximately 4,000 resident students with a full-time enrollment of over 8,000 students on 240 acres. The site is a registered member of the American Association of Botanical Gardens and Arboreta. |
