In Connecticut

Usually a willing autographer is Yale's Professor William Lyon Phelps. But when recently the New Haven Clearing House, raising $500,000 to help New Haven's Broadway Bank & Trust Co., asked him as a director for his personal note, he politely refused, resigned from the board. So did Director Charles Louis Kirschner, principal emeritus of New Haven High School. More helpful, Yale University took from the bank a $100.000 first mortgage on its building. But these aids were not enough. Last week Broadway Bank closed. Of its $2,200.000 in deposits, a good deal represented funds of Yale students and faculty members. Broadway President was Charles Gould Morris, thrice Democratic candidate for Governor, good friend of Governor Wilbur Lucius Cross, Yale Graduate School's dean emeritus.

The same day Broadway Bank closed, Merchants Trust Co. of Waterbury, Conn., failed to open. Six million dollars in deposits were tied up, making Connecticut the momentary storm-centre of U. S. banking troubles. In New Haven leading banks invoked a go-day restriction on withdrawals of over $100.

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