Bingo!
Now you can either re-do the shadetree fix with copper line and fittings from NAPA or replace the stock line. Patrick's in Arizona, Tom Langdon at Stovebolt Engine Co, or National Chevy Assoc may have the stock line and block fittings.
Also, check on the driver's side of the block to see what they did to the oil lines. They may have disconnected the gauge and the shadetree fix when the oil filter was added. Oil filters were an option on a '54 235.
How much crud is stuck to the underside of the valve and pushrod covers? If not much, you can use 10w30 detergent motor oil. I would suggest changing the oil and filter if you haven't already.
Keep us posted
chip
