This is the part that you need to remove.
http://www.classicparts.com/1947-59-Steering-Column-Bearing-Upper/productinfo/76-811/#.VVynyvlViko

It is removed like this.
http://chevy.oldcarmanualproject.com/shop/1955truck2/55ctsm0905.htm
The column is not removable in the true sense. It is part of the steering box. A bit of fishing with some wire and string will help guide the wire back in place as you reassemble. The bushing might be OK. If you get it out and can repair the wire then that will work fine.


Steve H