1954/55-1st non-PCV valve covers had 4 slits in them for "breathing" (and they used non-breathing oil filler caps). Later 235s valve covers had no slits in them (and they used a vented oil filler-cap on non-PCV engines).

It was common for owners of slitted 54-55 valve covers to cover/seal the slits (and use a vented oil filler cap) because oil leaks out the slits and looks messy.