53 series Detroit didn't come out until 1958, same time the V71 engines were introduced. Neither 318 cubic inch 6V53 diesel or the 318HP 8V71 diesel would be original engine in a 48-50 truck, or anything prior to 1958 or 59.
What year is the truck exactly?
That's a mighty nice looking truck, I'd sure like to see more of it!
Grigg