In honor of the recent passing of Ogden Phipps, the New York Racing Association decided Wednesday to rename the grade I Hempstead Handicap the Ogden Phipps Handicap. The $250,000 purse was raised to $300,000. Phipps died April 22 at the age of 93.Phipps was one of the founders of NYRA and former chairman of The Jockey Club, which is headquartered in New York. "We thought it was most appropriate to re-name a grade I stakes after a man who has done so much for New York racing and racing nationwide," NYRA chairman Barry Schwartz said. "Mr. Phipps was renowned for his fillies and mares so we thought this would be an appropriate manner in which to honor him."The Hempstead, named after a town on Long Island, is an 8 1/2-furlong race for fillies and mares three years old and up. This year it is scheduled for June 22 at Belmont Park. Phipps won the race with Personal Ensign in 1988 and Fantastic Find in 1990.