Members of the Yale Corp., expected to name a new university president today, first settled the school's four-month-old strike and then dodged a throng of reporters to interview final presidential candidates at a secret location yesterday.

The accord in the blue-collar-worker strike came only hours after 150 demonstrators had rallied for a settlement outside Woodbridge Hall, site of the corporation's meeting. Terms of the new agreement were not immediately disclosed. Vincent Sirabella, business manager of Local 35, Federation of University Employess (AFL-CIO), said, "we should be back to work by Christmas."

Meanwhile, corporation members, under pressure to pick a new president, avoided the press by adjourning for lunch and then reconvening at an undisclosed location. Sources said that at least two presidential candidates were interviewed yesterday, one of whom was Thomas Ehrlich, head of the Legal Services Foundation.

The corporation hopes to end Yale's long and embarrassing search for a new president this weekend. The post, considered one of the most pretigious in American education, has already been declined by three men: Henry Rosovsky, Dean of Harvard's faculty; Donald Kennedy, head of the Food and Drug Administration; and John Evans president of the University of Toronto.

Known to be in final consideraion for the job are Yale pharmacology professor Robert Handschumacher and Berkeley political science professor William Muir, both of whom were interviewed by the corporation at a special session in Washington last week.