That is very similar to my Canadian 1951 1 Ton. If that is a 216 then that is the short side cover version, Canadian 216. That fitting should connect to a steel line that goes along and up through the head to connect to the rocker arm. I believe there is a restriction in that fitting to regulate the flow of oil.
I don't understand what I am looking at around the cylinders. Are those pieces of the head gasket?