Besides that bushing, you'll need to address the longer and lower water pump pulley on the later 50s 235s. There is an adapter you can install that allows you to use the 216 type water pump or you can get a shortened water pump. However that shortened pump, will put the fan to low, so you should check out the adapter. Seen them on Ebay, search 235 water pump, should do it.
Compare the fans/water pump loccations on both motors you'll see the issue.

Last edited by JiMerit Boltr#43; 01/20/2015 3:31 AM.

It's easier to get forgiveness than permission!
1946 1/2-Ton Chevy
1953 Chevy 3/4-ton Factory Stakebed