New Haven, Conn., March 3--$150,000 has been raised for a new home for the Yale Daily News, to be erected near the university as a memorial to the late Britten Hadden, Yale '20, former news editor and founder of the magazine, Time.

Funds have been provided as follows: The Hadden family, $50,000; Henry R. Luce, partner of Mr. Hadden in Time, $25,000, and an alumni committee headed by Edward S. Harkness, the remainder.

The site will be in the vicinity of Park Street, where the new Yale Record building, the Yale Theatre, and several fraternity houses have been erected on university property. The building will follow the Yale Gothic tradition and will contain ample office space and modern newspaper equipment.