The cables keep the seat frame moving evenly when you put
pressure on one side.
Been ten years since I had mine out of the truck, but if I
remember correctly, my '50 was missing the rod also. But my
'54 did have one.
If you've ever worked on one of the old drafting tables, a lot
of them had a straight edge on a cable. It's the same idea as
the seat cable. But the adjusters need to lock in to a detent
on a truck seat.
dg