I've been doing similar work to yours for a bit.
I'm 30 and this is my first house. The house was built in 1978 and i have done quite a bit of electrical work to it.
First, you need to figure out if they still make breakers for your house.
The breaker box that came with this house was a "Federal Pacific" box.
From what I understand all "Federal Pacific" breaker boxes were recalled in the 80's due to the fact that the circuits never break... they arc, melt wires, and burn down houses.
You may have an old breaker box that new breakers won't fit into.
However, if you do have all the correct stuff I have my trusty "Advanced Home Wiring" book next to me, by Black and Decker.
It says:
120/240-volt circuits:
Connect red and black wires to double-pole breaker. Connect white wire to neutral bus bar, and grounding wire to grounding bus bar.
For 240-volt circuits, attach white and black wires to double-pole breaker, tagging white wire with black tape. There is no neutral bus bar connection on this circuit.
Note:
Older 240-volt circuits use three wires; 2 hot and one neutral. Recent codes require four wires, the added wire is for grounding.
Also, all 240-volt circuits are dedicated circuits that use #10 wire.
You will want to get a book and read up on it, 240 volts will cook you awful quick.