If you swap out for a newer 235 or 261 there are 54 owners on this site that would love to get that old engine. That particular engine is peculiar to the 54-55.1 series 235. 53 and earlier had babbitt bearings and 55.2 and newer had a different waterpump and engine mount set-up.

~~ Jethro
1954 3100
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In the Dity Gallery
1951 3100 (gone) / 1956 4400 (still in the neighborhood) / 1957 6400 with dump body (retired) / 1959 3100 panel (in the woods junked) / 1978 Custom Deluxe K10 / 1993 S-10 4.3 / 2004 Chevy Crew Cab / 1945 John Deere H / 1952 John Deere B / 1966 John Deere 2510 / 1967 John Deere 1020