The 1st picture is from 1954 Chevrolet Salesman Truck Data Book. The fuel filter was an accessory and it shows the fuel filter with the glass bowl on the bottom.
The 2nd picture is from 1954 Chevrolet Accessories Installation Manual. (Page 27, Figure 62) It is an illustration for a Cab Over Engine COE carburetor, it shows the fuel filter with the glass bowl on the bottom.
So I would say that the fuel filter is suppose to be installed with the glass bowl facing down. The fuel filter from the salesman data book mentions a cleanable filter, which sounds like the one to buy. (Non-corrosive unbreakable metallic element) Cleaned by compressed air.
