Fellows very little about this truck is original anymore. The tilt steering column is from a late model Chevy of unknown origin...with column ignition switch. So its harness along with the newer ATO fuse block have been integrated in the not so distant past.
Back to the single wire and rubber boot hanging just inside the grill on either side. Again, the Painless wires are marked for right turn signal, left turn signal and left and right parking lights. With only a single wire to attach either one of these. How did the factory in '59 achieve having a running and a turn signal lamp option with a single filament bulb.
I believe there must be an upgrade required to housings in order to have both. And certainly a dual filament 1034.
This is more than likely why the previous installer opted out of upgrading and just coiled up the excess running light wire.