'"Reed's will suggested his wife could "devote some portion of my estate to benevolent objects, or to the cultivation, illustration, or development of the fine arts in the city of Portland, or to some other suitable purpose, which shall be of permanent value and contribute to the beauty of the city and to the intelligence, prosperity, and happiness of the inhabitants".Ladd's son, William Mead Ladd, donated 40 acres from the Ladd Estate Company to build the new college.