The 47-54 Chevrolet Truck Factory Assembly Manual Shows:
R.P.O. 327 Solenoid Starter Equipment Instruction
Section 0, Sheet 3.00
Looking at starter it says,
part #1107109 motor assembly
1954 Chevrolet Car Spec sheet
PDF page 41 under starter motor it says same part #1107109
The above info tells me, the manual transmission 1954 Chevrolet passenger car starter w/solenoid part #1107109
will work on a 1954 Chevrolet manual tranny truck and probably any series truck.
The instruction shows a cover that is placed over the stomp starter floor button hole and
measurements to place a push to start button switch next to the headlight switch.
I'm not sure if this info applies to a 1940 Chevy 1.5 ton truck, but it does apply to 216, 235 & 261 engines.
Check attached photo
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