57Heaven,
The "Captain Bars" are not a conclusive indicator that you have a 261, especially in 1954. Here is an extract from Jim Carter's Tech Article on the 261 (it has numbers and locations - the '54 location is different from other years):
"When you have found what you suspect might be a 261, check a few specifics to verify you have the real thing and not the visual almost identical 235. Casting numbers, not stamped numbers, on the 261 head are very visible beside the rocker arm cover. A different set of numbers relate to the 261 block. These seven digits are located on the right side between the fuel pump and starter except for 1954 where it is located forward of the fuel pump. See chart below.
Chart/Table with codes (from Jim Carter\'s site. Watch for the "Captain's Bars!" The 261 has two pairs of parallel raised 3/4 inch long bars cast in the block. This is not seen on a 235 except 1954. One pair is above the starter and the second pair is at the top middle of the left side of the block very close to the head. See photos below. The one exception is the early 261 produced in 1954 to mid 1955. It has only one "Captain Bar" above the starter but keeps the pair on the left side."
Tim