3733950 is a block casting code from 55-57 (and, maybe other years). Where did you find it listed as a 1954 code?

3701887 is a 1953 truck head casting code (as you posted).
The extra coolant holes could have been drilled into the earlier head.
What is the date casting code on the head? It is under the valve cover on rearward driver's side of the head.

As you posted, the engine serial number is not a recognizable format. You might have a engine/block that was re-stamped when used a replacement?