Your 340 has an open center system. You will want an open center hydraulic valve.
Open center means that the fluid circulates under low pressure when all the spool valves are in the center position. This is how early hydraulic systems worked. If flow is blocked and can't go anywhere such as through a motor or into a cylinder, the relief valve pops off and relieves the pressure. If the relief valve fails, hoses blow, pump housings split, etc..
Closed center means the hydraulic fluid stays at high pressure and does not circulate. It is a much more complicated system requiring a variable-displacement pump and an accumulator, but it provides instant response to the hydraulics. Most tractors made from the 1980's on have closed center systems.
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Today's Featured Article - Tractor Profile: Earthmaster - by Staff. This tractor, manufactured by the Earthmaster Farm Equipment company in Burbank, California was made for only two years. The Model C came out in 1948 and was followed by the "CN" (narrow-width model), "CNH (narrow-width high-crop model), "CH" (high-crop), "D" and the "DH" (high-crop) in 1949. The main difference between the models was tire size, tractor width and cultivating height. The "D" series were about 20 inches wider overall than the
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