Model Y designed by Dean B. Hammond for Bureau of Air Commerce safe airplane competition in 1934. Declared winner of contest in Nov, and Bureau contracted to purchase 25 aircraft at $3,190 each. Original design goal was for an airplane cost of $700--they cost $7150 later! First airplane not acceptable to the Bureau, and Lloyd Stearman was asked to re- engineer plane to improve performance and general workmanship. Resulting aircraft, Model Y, delivered Apr 36. Span 40 ft; length 26 ft 10 3/4 in; height 7 ft 7 in; weight 2150 lbs; max speed 120 mph; stall speed 42 mph.