modern three point controls, and a 340 with tel-a-depth would have the control lever not return to center. (i assume a 340 could have that system). THe lever"s position on the quadrant is relative to the positon of the hitch in its lift range. low is low, and high is high, and anywhere in between should be about the same between the control and the hitch. An aftermarket type 3-point usually has a spring to center type control valve because the mechanisms and valving to duplicate factory 3 point contols would be complicated, unreliable, and expensive on a tractor not originally designed for such a system.
The tel-a-depth system is complicated and unreliable compared to a modern factory 3 point lift. Many people who used those tractors from new had issues with the depth control not working as intended and many today do not work correctly at all because of maintenace and repair complications.
you"ll have to identify whether your single valve is a tel-a-depth or standard remote valve and whether your 3 point is factory or custom.
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