Yale, ELIHU (1648-1721), an English merchant and philanthropist, born near Boston. His father was one of the original settlers of New Haven, Connecticut. The son was educated in England and began his career as a merchant, engaging in trade in India. From 1687 to 1692, he was governor of the East India Company's fort at Madras. He then returned to England. Mr. Yale became interested in the school founded at Saybrook and afterwards located at New Haven, Connecticut. During his life he made several bequests to this institution, and in 1718 he announced a large gift. The trustees then honored him by naming the school Yale College. This has since become Yale University.