Read HERE under.
Inspection
1. Check clearance between propeller shaft and its bushing.
Note: If this clearance exceeds .010" the bushing and oil seal should be replaced.

The thing is the propeller shaft may be worn too.
So replacing with the original bushing might not solve the clearance issue.

With the Oike bushing, the propeller shaft will ride on a different unworn spot.
Check out my Okie Bushing Photo Album

Also check out C h e v r o L E E, for Bushing Dimensions.

Vintage Auto Parts, Inc. might have Okie bushings in stock if you need one.
They call them Driveshaft Bushings and Seal Assemblies

1954 Chevrolet 3105 Deluxe Panel Truck
w/Factory HYDRA-MATIC