Ron,
Which of those codes make you think it is a 1954 engine/block?
If CON L159 is the block date casting code:
L = 12 = December
15 = 15th
9 = 1959
If I am incorrect, someone will post a correction.
My sources indicate the 3733950 block casting code was used from 1955-1957.
The 3836850 heads were used from 1956-1962.
What is the engine serial number and the head date casting code?