Gary,

Yes, it is a 1954 truck 235 engine that originally came in a 3600 (3/4 ton) truck.

http://chevy.oldcarmanualproject.com/chevyresto/54057.htm

It would have the older style water pump: short shaft, with the pump body going a little above the bottom of the head. This is hard to determine from the photos - photo 2 almost shows this, if you look at the water-pump body relative to the manifolds (which bolt to the head).

The chromed valve cover is the 54/55-1st (only) design that originally would have been painted.

Tim
1954Advance-Design.com
1954 3106 Carryall Suburban
1954 3104 5-window pickup w/Hydra-Matic
The 216 and early 235 engines are not "splash oilers" -- this is a splash oiler.