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According to Hanks & Hodges, the name is derived from an Old Norse medieval given name: "Thorsteinn", which is made up of the elements "Thor" (the Norse god of thunder) and "steinn" (meaning, "stone"). "Thor's stone".

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Alternately, the name may be a combination of "Thor" and the Old English word "tun", meaning a settlement or town. "From Thor's town".

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The namesake which springs quickest to my mind is Thurston Howell, III -- the castaway millionaire of *Gilligan's Island*.

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(And, no, I don't know whether Mr. Howell's momma was practicin' proper etty-ket when she tacked that "III" onto the end of his name...)

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-- Nanaea