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 Weatherford International Inc. said
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 it canceled plans for a preferred-stock swap 
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but may resume payment of dividends on the stock,
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 and added 
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that it expects to publicly offer about 10 million common shares.
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 The company said
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 it planned to offer an undetermined number of common shares in exchange for the 585,000 shares of its preferred stock outstanding.
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 The exchange ratio was never established.
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 Weatherford said 
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market conditions led to the cancellation of the planned exchange.
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 The energy-services concern said, however, 
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that in January 1990, it may resume payments of dividends on the preferred stock.
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 Weatherford suspended its preferred-dividend payment in October 1985 
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and said 
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it hasn't any plans
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 to catch up on dividends in arrears about $6 million, 
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but will do so some time in the future.
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 Additionally, the company said 
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it filed with the Securities and Exchange Commission for the proposed offering of 10 million shares of common stock,
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 expected to be offered in November.
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 The company said 
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Salomon Brothers Inc. and Howard, Weil, Labouisse, Friedrichs Inc., underwriters for the offering, were granted an option 
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to buy as much as an additional 1.5 million shares
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 to cover over-allotments.
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 Proceeds will be used 
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to eliminate and restructure bank debt.
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 Weatherford currently has approximately 11.1 million common shares outstanding.
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